HIW (Highwoods Properties) EV-to-EBIT: 21.09 (As of Sep. 11, 2026) — 10% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HIW Highwoods Properties Inc HIW
72 GF Score
Price $30.93
GF Value $27.91
Valuation Modestly Overvalued
! 14 Warning Signs
View Full Analysis

What is Highwoods Properties EV-to-EBIT?

Highwoods Properties HIW +1.61% 72 EV-to-EBIT is 21.09 as of Sep. 11, 2026, which is 10% below its 10-year median of 23.41. GuruFocus rates HIW with a GF Score™ of 72/100 and a GF Value™ of $27.91 (Modestly Overvalued). The stock has 14 warning signs investors should review. Among 648 REITs companies, Highwoods Properties ranks worse than 57.25% on this metric.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Highwoods Properties's Enterprise Value is $7,067.5 Mil. Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $335.1 Mil. Therefore, Highwoods Properties's EV-to-EBIT for today is 21.09.

The historical rank and industry rank for Highwoods Properties's EV-to-EBIT or its related term are showing as below:

HIW' s EV-to-EBIT Range Over the Past 10 Years
Min: 13.58   Med: 23.41   Max: 39.47
Current: 21.09

During the past 13 years, the highest EV-to-EBIT of Highwoods Properties was 39.47. The lowest was 13.58. And the median was 23.41.

HIW's EV-to-EBIT is ranked worse than
57.25% of 648 companies
in the REITs industry
Industry Median: 17.595 vs HIW: 21.09

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %. Highwoods Properties's Enterprise Value for the quarter that ended in Jun. 2026 was $6,982.6 Mil. Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $335.1 Mil. Highwoods Properties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 4.80%.


Highwoods Properties  (NYSE:HIW) EV-to-EBIT Explanation

This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %.

Highwoods Properties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

Earnings Yield (Joel Greenblatt) % (Q: Jun. 2026 ) =EBIT / Enterprise Value (Q: Jun. 2026 )
=335.067/6982.58096
=4.80 %

Highwoods Properties's Enterprise Value for the quarter that ended in Jun. 2026 was $6,982.6 Mil.
Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $335.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Highwoods Properties EV-to-EBIT Related Terms


Highwoods Properties EV-to-EBIT Historical Data

* Premium members only.

The historical data trend for Highwoods Properties's EV-to-EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Highwoods Properties EV-to-EBIT Chart

Highwoods Properties Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.59 23.16 19.78 26.49 20.46

Highwoods Properties Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EV-to-EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 24.11 24.88 20.46 24.87 20.84

HIW vs SLG, CDP, KRC: EV-to-EBIT Comparison

For the REIT - Office subindustry, Highwoods Properties's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Highwoods Properties EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Highwoods Properties's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Highwoods Properties's EV-to-EBIT falls into.


HIW
72GF Score
Highwoods Properties Inc HIW
EV-to-EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Highwoods Properties EV-to-EBIT Calculation

Highwoods Properties's EV-to-EBIT for today is calculated as:

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=7067.524/335.067
=21.09

Highwoods Properties's current Enterprise Value is $7,067.5 Mil.
Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $335.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EV-to-EBIT →
What does a EV-to-EBIT of 21.09 mean?
Highwoods Properties (HIW) has a EV-to-EBIT of 21.09 as of Sep. 11, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Highwoods Properties and its competitors. This is 10% below median its historical median of 23.41. Over the past decade, Highwoods Properties' EV-to-EBIT has ranged from 13.58 to 39.47. According to the industry distribution chart, Highwoods Properties ranks #371 out of 648 companies in the REITs industry, placing it in the top 57.3%.
Is Highwoods Properties' EV-to-EBIT too high?
Highwoods Properties' current EV-to-EBIT of 21.09 is 10% below median its 10-year median of 23.41. Over the past 10 years, this metric has ranged from a low of 13.58 to a high of 39.47. The REITs industry median EV-to-EBIT is 17.60. Highwoods Properties' value of 21.09 is 19.9% above this industry median. Based on the distribution chart, Highwoods Properties ranks #371 out of 648 companies in the REITs industry, which is below the industry midpoint. Overall, Highwoods Properties has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Highwoods Properties' EV-to-EBIT compare to SLG and CDP?
According to the REITs industry distribution chart, Highwoods Properties ranks #371 out of 648 companies for EV-to-EBIT. This places Highwoods Properties in the lower half of its industry. The industry median EV-to-EBIT is 17.60. Highwoods Properties' value of 21.09 is 19.9% above this benchmark. Historically, Highwoods Properties' own EV-to-EBIT has ranged from 13.58 to 39.47 over the past decade. While the company's 10-year median is 23.41 vs. the industry median of 17.60, Highwoods Properties has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for a REITs company?
The median EV-to-EBIT among REITs companies is 17.60, based on 648 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Highwoods Properties's current EV-to-EBIT of 21.09 is 19.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Highwoods Properties and its competitors. For the REITs industry, the median EV-to-EBIT is 17.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Highwoods Properties's current EV-to-EBIT is 21.09, which is 10% below median its own 10-year median of 23.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Highwoods Properties stock overvalued right now?
Based on GuruFocus' analysis, Highwoods Properties (HIW) is currently considered Modestly Overvalued. The stock's GF Value™ is $27.91, compared to a current price of $30.93 — trading 10.8% above its estimated fair value. The current EV-to-EBIT is 21.09, which is 10% below median its 10-year median of 23.41 and 19.9% above the REITs industry median of 17.60. Highwoods Properties' overall GF Score™ is 72/100 with 14 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For Highwoods Properties (HIW), the current EV-to-EBIT is 21.09 as of Sep. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Highwoods Properties (HIW) Overvalued in 2026?

Based on GuruFocus' analysis, Highwoods Properties stock appears to be overvalued. The current stock price of $30.93 is trading 10.8% above its estimated GF Value™ of $27.91. GuruFocus considers Highwoods Properties to be Modestly Overvalued.

Key valuation signals for HIW:

  • EV-to-EBIT: 21.09 (10% below median its 10-year median of 23.41)
  • GF Value™: $27.91 vs. price of $30.93 (10.8% above fair value)
  • GF Score™: 72/100 with 14 warning signs
  • Industry Position: 19.9% above the REITs median (#371 of 648)

No single metric tells the full story. See the HIW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Highwoods Properties Business Description

Industry Real EstateREITs
Other Exchanges HQS:GermanyHIWP34:Brazil
Address 150 Fayetteville Street, Suite 1400, Raleigh, NC, USA, 27601
Highwoods Properties Inc is a fully integrated office REIT that owns, develops, acquires, leases, and manages office properties mainly in the best business districts of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa. Its principal business is the operation, acquisition, and development of rental office properties, with no material inter-segment transactions. The Company evaluates performance by geographic location, and the operating results by geographic grouping are regularly reviewed by the chief operating decision maker. The core portfolio consists mainly of office properties in its key markets, with the majority of revenue derived from its Raleigh properties.
72GF Score

Get the complete analysis for HIW

EV-to-EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$30.93
Price
$27.91
GF Value