Empire State Realty OP (ESBA) Operating Expenses (2012 - 2026)
Empire State Realty OP (ESBA) posted quarterly Operating Expenses of $47.7 million for Q1 2026, up 5.96% year-over-year from $45.1 million in Q1 2025, and little changed quarter-over-quarter from $47.8 million in Q4 2025.
Empire State Realty OP (ESBA) Operating Expenses (2012 - 2026) Analysis & Trends
Empire State Realty OP (ESBA) has reported Operating Expenses for 15 consecutive years, with $47.7 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 5.96% year-over-year to $47.7 million; the TTM figure through Mar 2026 stood at $298.6 million (down 58.4% YoY), while the FY2025 annual figure was $184.7 million, down 69.68% from the prior year.
- Operating Expenses held at $47.7 million in Q1 2026 per ESBA's latest filing, from $47.8 million in the prior quarter.
- Across five years, Operating Expenses topped out at $476.7 million in Q4 2024 and bottomed at -$299.8 million in Q4 2022.
- Historically, Operating Expenses has averaged $94.0 million across 5 years, with a median of $47.8 million in 2025.
- Annual changes were most pronounced in 2024 — Operating Expenses soared 1010.01% — and 2025, when it sank 89.97%.
- Empire State Realty OP's Operating Expenses stood at -$299.8 million in 2022, then jumped by 114.33% to $42.9 million in 2023, then jumped by 1010.01% to $476.7 million in 2024, then tumbled by 89.97% to $47.8 million in 2025, then fell by 0.15% to $47.7 million in 2026.
- Business Quant data shows ESBA's Operating Expenses at $47.7 million in Q1 2026, $47.8 million in Q4 2025, and $47.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alexandria Real Estate Equities | 9.06 Bn | 7.96 Bn | - | 835.39 Mn |
| 2 | Cousins Properties | 4.86 Bn | 4.86 Bn | 183.86 Mn | 249.25 Mn |
| 3 | Kilroy Realty | 4.28 Bn | 4.28 Bn | 212.24 Mn | 207.02 Mn |
| 4 | Copt Defense Properties | 4.18 Bn | 4.18 Bn | 191.37 Mn | 134.16 Mn |
| 5 | Sl Green Realty | 4.12 Bn | 4.12 Bn | 263.98 Mn | 60.25 Mn |
| 6 | Highwoods Properties | 3.47 Bn | 3.13 Bn | - | 159.11 Mn |
| 7 | Douglas Emmett | 1.99 Bn | 1.64 Bn | 178.95 Mn | 206.20 Mn |
| 8 | Empire State Realty OP | 1.25 Bn | 1.25 Bn | - | 335.61 Mn |
| 9 | Piedmont Realty Trust | 1.22 Bn | 1.22 Bn | 88.14 Mn | 123.54 Mn |
| 10 | Easterly Government Properties | 1.15 Bn | 1.15 Bn | 72.41 Mn | 70.43 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 335.61 Mn |
| Mar 31, 2026 | 47.74 Mn |
| Dec 31, 2025 | 47.82 Mn |
| Sep 30, 2025 | 46.96 Mn |
| Jun 30, 2025 | 156.13 Mn |
| Mar 31, 2025 | 45.06 Mn |
| Dec 31, 2024 | 476.68 Mn |
| Sep 30, 2024 | 45.95 Mn |
| Jun 30, 2024 | 150.18 Mn |
| Mar 31, 2024 | 150.12 Mn |
| Dec 31, 2023 | 42.94 Mn |
| Sep 30, 2023 | 149.27 Mn |
| Jun 30, 2023 | 144.35 Mn |
| Mar 31, 2023 | 42.04 Mn |
| Dec 31, 2022 | -299.76 Mn |
| Sep 30, 2022 | 42.80 Mn |
| Jun 30, 2022 | 151.52 Mn |
| Mar 31, 2022 | 157.99 Mn |
| Dec 31, 2021 | -278.74 Mn |
| Sep 30, 2021 | 33.36 Mn |