Easterly Government Properties, Inc.

DEA

Real EstateSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Easterly Government Properties, Inc. focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly's experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased to such agencies either directly or through the U.S. General Services Administration (GSA). Easterly Government Properties, Inc. was incorporated in 2011 in Maryland. Easterly Government Properties, Inc. is based in Washington, D.C.

Valuation

Market Cap$1.1B

Current Price$24.11as of Jun 23, 2026

P/E Ratio87.80

P/B Ratio0.86

EV / EBITDA13.79

EV / Sales8.29

Profitability

Operating Margin25.3%

Net Profit Margin3.9%

EBITDA Margin60.1%

Returns

ROE1.0%

ROCE3.0%

ROIC %-

ROA0.4%

Solvency

Current Ratio0.23

Debt / Equity1.26

Debt / Assets0.49

CFO / Net Profit19.93

Price History▲ 6.49% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$336M▲ 11.3%

EBITDA$202M▲ 12.6%

Net Profit$13M▼ 33.5%

Cash from Ops (CFO)$259M▲ 59.4%

Free Cash Flow (FCF)$259M▲ 59.4%

Revenue CAGR 3Y4.6%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-25.5%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$336M	$202M	$13M	$259M	1.0%	11.3%	-33.5%
2024	$302M	$179M	$20M	$163M	1.5%	5.2%	4.0%
2023	$287M	$162M	$19M	$114M	1.4%	-2.2%	-40.3%
2022	$294M	$181M	$31M	$126M	2.5%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	293.61	287.23	302.05	336.10
Operating Revenue	-	285.90	276.02	291.90	324.21
Cost Of Revenue	-	97.68	102.42	101.08	111.41
Gross Profit	-	195.92	184.80	200.98	224.69
Operating Expense	-	123.04	118.41	122.31	139.49
Selling General And Administration	-	24.78	27.12	24.45	26.04
Total Expenses	-	220.72	220.84	223.38	250.90
Operating Income	-	72.89	66.39	78.67	85.20
EBITDA	-	181.19	161.52	179.34	201.91
Normalized EBITDA	-	174.51	163.18	181.05	205.87
EBIT	-	82.94	70.23	83.01	88.01
Interest Expense	-	47.38	49.17	62.43	74.45
Net Interest Income	-	-47.38	-49.17	-62.43	-74.45
Other Income Expense	-	10.05	3.84	4.34	2.82
Interest Expense Non Operating	-	47.38	49.17	62.43	74.45
Net Non Operating Interest Income Expense	-	-47.38	-49.17	-62.43	-74.45
Pretax Income	-	35.56	21.06	20.58	13.56
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	1.40	-0.35	-0.36	-0.83
Net Income Continuous Operations	-	35.56	21.06	20.58	13.56
Net Income From Continuing And Discontinued Operation	-	31.47	18.80	19.55	13
Net Income From Continuing Operation Net Minority Interest	-	31.47	18.80	19.55	13
Net Income	-	31.47	18.80	19.55	13
Net Income Common Stockholders	-	30.93	18.20	19	12.32
Net Income Including Noncontrolling Interests	-	35.56	21.06	20.58	13.56
Normalized Income	-	26.20	20.12	20.90	16.14
Diluted NI Availto Com Stockholders	-	30.93	18.20	19	12.32
Basic Average Shares	-	36.25	37.71	41.38	44.92
Diluted Average Shares	-	36.38	37.82	41.50	45.06
Reconciled Depreciation	-	95.15	88.56	94.40	112.07
Reconciled Cost Of Revenue	-	100.79	105.16	103.01	113.24
Total Unusual Items	-	6.68	-1.66	-1.71	-3.96
Total Unusual Items Excluding Goodwill	-	6.68	-1.66	-1.71	-3.96
Minority Interests	-	-4.09	-2.26	-1.02	-0.55
Special Income Charges	-	-6.91	-1.66	-1.88	-3.96
Impairment Of Capital Assets	-	5.54	0	0	2.54
Restructuring And Mergern Acquisition	-	1.37	1.66	1.88	1.42
Gain On Sale Of Security	1.31	13.59	-	0.17	-
Depreciation Amortization Depletion Income Statement	-	98.25	91.29	96.33	113.90
Depreciation And Amortization In Income Statement	-	98.25	91.29	96.33	113.90
General And Administrative Expense	-	24.78	27.12	24.45	26.04
Other Gand A	-	24.78	27.12	24.45	26.04
Provision For Doubtful Accounts	-	0	0	1.53	-0.44
Otherunder Preferred Stock Dividend	-	0.55	0.60	0.55	0.68
Earnings From Equity Interest	-	3.37	5.50	6.05	6.78

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Easterly Government Properties, Inc.this co.	DEA	$1.1B	87.80↑ premium	0.86	1.0%	13.79
Arbor Realty Trust, Inc.	ABR	$1.2B	7.79	0.50	6.4%	-
Marcus & Millichap, Inc.	MMI	$1.1B	-	1.88	-0.3%	59.90
Piedmont Realty Trust, Inc.	PDM	$1.1B	-	0.75	-5.6%	12.39
Chimera Investment Corporation

Learn while you research

Hand-picked academy chapters to deepen your understanding of Easterly Government Properties, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$336M

$202M

$13M

$259M

1.0%

11.3%

-33.5%

2024

$302M

$179M

$20M

$163M

1.5%

5.2%

4.0%

2023

$287M

$162M

$19M

$114M

1.4%

-2.2%

-40.3%

2022

$294M

$181M

$31M

$126M

2.5%

Metric

2021

2022

2023

2024

2025

Total Revenue

293.61

287.23

302.05

336.10

Operating Revenue

285.90

276.02

291.90

324.21

Cost Of Revenue

97.68

102.42

101.08

111.41

Gross Profit

195.92

184.80

200.98

224.69

Operating Expense

123.04

118.41

122.31

139.49

Selling General And Administration

24.78

27.12

24.45

26.04

Total Expenses

220.72

220.84

223.38

250.90

Operating Income

72.89

66.39

78.67

85.20

EBITDA

181.19

161.52

179.34

201.91

Normalized EBITDA

174.51

163.18

181.05

205.87

EBIT

82.94

70.23

83.01

88.01

Interest Expense

47.38

49.17

62.43

74.45

Net Interest Income

-47.38

-49.17

-62.43

-74.45

Other Income Expense

10.05

3.84

4.34

2.82

Interest Expense Non Operating

47.38

49.17

62.43

74.45

Net Non Operating Interest Income Expense

-47.38

-49.17

-62.43

-74.45

Pretax Income

35.56

21.06

20.58

13.56

Tax Rate For Calcs

Tax Effect Of Unusual Items

1.40

-0.35

-0.36

-0.83

Net Income Continuous Operations

35.56

21.06

20.58

13.56

Net Income From Continuing And Discontinued Operation

31.47

18.80

19.55

Net Income From Continuing Operation Net Minority Interest

31.47

18.80

19.55

Net Income

31.47

18.80

19.55

Net Income Common Stockholders

30.93

18.20

12.32

Net Income Including Noncontrolling Interests

35.56

21.06

20.58

13.56

Normalized Income

26.20

20.12

20.90

16.14

Diluted NI Availto Com Stockholders

30.93

18.20

12.32

Basic Average Shares

36.25

37.71

41.38

44.92

Diluted Average Shares

36.38

37.82

41.50

45.06

Reconciled Depreciation

95.15

88.56

94.40

112.07

Reconciled Cost Of Revenue

100.79

105.16

103.01

113.24

Total Unusual Items

6.68

-1.66

-1.71

-3.96

Total Unusual Items Excluding Goodwill

6.68

-1.66

-1.71

-3.96

Minority Interests

-4.09

-2.26

-1.02

-0.55

Special Income Charges

-6.91

-1.66

-1.88

-3.96

Impairment Of Capital Assets

5.54

2.54

Restructuring And Mergern Acquisition

1.37

1.66

1.88

1.42

Gain On Sale Of Security

1.31

13.59

0.17

Depreciation Amortization Depletion Income Statement

98.25

91.29

96.33

113.90

Depreciation And Amortization In Income Statement

98.25

91.29

96.33

113.90

General And Administrative Expense

24.78

27.12

24.45

26.04

Other Gand A

24.78

27.12

24.45

26.04

Provision For Doubtful Accounts

1.53

-0.44

Otherunder Preferred Stock Dividend

0.55

0.60

0.55

0.68

Earnings From Equity Interest

3.37

5.50

6.05

6.78

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Easterly Government Properties, Inc.this co.

DEA

$1.1B

87.80↑ premium

0.86

1.0%

13.79

Arbor Realty Trust, Inc.

ABR

$1.2B

7.79

0.50

6.4%

Marcus & Millichap, Inc.

MMI

$1.1B

1.88

-0.3%

59.90

Piedmont Realty Trust, Inc.

PDM

$1.1B

0.75

-5.6%

12.39

Chimera Investment Corporation

Easterly Government Properties, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Easterly Government Properties, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on