Start with its own history
At 19.05×, HIW is 28.9% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · HIWREIT - OfficeUpdated Nov 5, 2026
Highwoods Properties, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
19.05×
28.9% belowthe 10-year annual average
Share price32.2
÷Earnings per share1.69
Price and EPS in quote currency. Calculation details
Investors are paying 19.05 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 26.81×
3-year average22.29×3 positive annual observations
5-year average20.12×5 positive annual observations
10-year average26.81×10 positive annual observations
Peer median · TTM22.47×6 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 17.81× | -45.3% |
| Dec 31, 2024 | 32.53× | +96.9% |
| Dec 31, 2023 | 16.52× | -12.0% |
| Dec 31, 2022 | 18.78× | +25.5% |
| Dec 31, 2021 | 14.96× | +25.4% |
| Dec 31, 2020 | 11.94× | -87.3% |
| Dec 31, 2019 | 94.06× | +303.6% |
| Dec 31, 2018 | 23.31× | -18.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 28.60× | +197.2% |
| Dec 31, 2016 | 9.62× | -77.9% |
| Dec 31, 2015 | 43.60× | +18.2% |
| Dec 31, 2014 | 36.90× | +46.9% |
| Dec 31, 2013 | 25.12× | -23.4% |
| Dec 31, 2012 | 32.79× | -40.3% |
| Dec 31, 2011 | 54.94× | +48.4% |
| Dec 31, 2010 | 37.03× | -15.6% |
| Dec 31, 2009 | 43.88× | -40.7% |
| Dec 31, 2008 | 73.95× | +234.7% |
| Dec 31, 2007 | 22.09× | -65.3% |
| Dec 31, 2006 | 63.69× | +29.8% |
| Dec 31, 2005 | 49.05× | -64.6% |
| Dec 31, 2004 | 138.50× | +20.0% |
| Dec 31, 2003 | 115.45× | +385.8% |
| Dec 31, 2002 | 23.76× | +34.6% |
| Dec 31, 2001 | 17.65× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How HIW compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 HIW This stockHighwoods Properties, Inc. | 19.05× |
 CDPCOPT Defense Properties | 22.07× |
 VNOVornado Realty Trust | N/M |
 OUTOutfront Media Inc. | 22.87× |
 BXMTBlackstone Mortgage Trust, Inc. | N/M |
 LXPLXP Industrial Trust | 31.37× |
 PSAPublic Storage | 35.78× |
 NMRKNewmark Group, Inc. | 14.73× |
 MPWMedical Properties Trust, Inc. | 4.91× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does HIW’s P/E tell you?
Compare like with like
The median of the 6 positive peer ratios above is 22.47×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take HIW into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("HIW", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 32.2 ÷ EPS 1.69 = 19.05×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
HIW P/E ratio: common questions
The essentials behind the numbers.
Highwoods Properties, Inc.'s current P/E is 19.05× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.