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Empire State Realty TrustESRT +2.62%62 EV-to-EBITDA is 10.89 as of Jul. 15, 2026, which is 35% below its 10-year median of 16.81. GuruFocus rates ESRT with a GF Score™ of 62/100 and a GF Value™ of $8.84 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 683 REITs companies, Empire State Realty Trust ranks better than 75.55% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Empire State Realty Trust's enterprise value is $4,018.5 Mil.
Empire State Realty Trust's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $368.8 Mil. Therefore, Empire State Realty Trust's EV-to-EBITDA for today is 10.89.
The historical rank and industry rank for Empire State Realty Trust's EV-to-EBITDA or its related term are showing as below:
ESRT'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 10.53 Med: 16.81 Max: 25.21
Current: 10.89
During the past 13 years, the highest EV-to-EBITDA of Empire State Realty Trust was 25.21. The lowest was 10.53. And the median was 16.81.
ESRT's EV-to-EBITDA is ranked better than 75.55% of 683
companies
in the REITs industry
Industry Median: 15.35
vs ESRT: 10.89
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Empire State Realty Trust (NYSE:ESRT) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Empire State Realty Trust's PE Ratio (TTM) for today is calculated as:
Empire State Realty Trust's share price for today is $5.685.
Empire State Realty Trust's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.220.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
* 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.
For the REIT - Diversified subindustry, Empire State Realty Trust's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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.
Empire State Realty Trust EV-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Empire State Realty Trust's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Empire State Realty Trust's EV-to-EBITDA falls into.
Empire State Realty Trust's current Enterprise Value is $4,018.5 Mil.
Empire State Realty Trust's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $368.8 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.
Empire State Realty Trust (ESRT) has a EV-to-EBITDA of 10.89 as of Jul. 15, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Empire State Realty Trust. This is 35% below median its historical median of 16.81. Over the past decade, Empire State Realty Trust's EV-to-EBITDA has ranged from 10.53 to 25.21. According to the industry distribution chart, Empire State Realty Trust ranks #167 out of 683 companies in the REITs industry, placing it in the top 24.5%.
Is Empire State Realty Trust's EV-to-EBITDA too high?
Empire State Realty Trust's current EV-to-EBITDA of 10.89 is 35% below median its 10-year median of 16.81. Over the past 10 years, this metric has ranged from a low of 10.53 to a high of 25.21. The REITs industry median EV-to-EBITDA is 15.35. Empire State Realty Trust's value of 10.89 is 29.1% below this industry median. Based on the distribution chart, Empire State Realty Trust ranks #167 out of 683 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Empire State Realty Trust has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Empire State Realty Trust's EV-to-EBITDA compare to JBGS and CTO?
According to the REITs industry distribution chart, Empire State Realty Trust ranks #167 out of 683 companies for EV-to-EBITDA. This places Empire State Realty Trust in the top 25% of its industry — outperforming the majority of peers. The industry median EV-to-EBITDA is 15.35. Empire State Realty Trust's value of 10.89 is 29.1% below this benchmark. Historically, Empire State Realty Trust's own EV-to-EBITDA has ranged from 10.53 to 25.21 over the past decade. While the company's 10-year median is 16.81 vs. the industry median of 15.35, Empire State Realty Trust has consistently been below 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-EBITDA for a REITs company?
The median EV-to-EBITDA among REITs companies is 15.35, based on 683 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Empire State Realty Trust's current EV-to-EBITDA of 10.89 is 29.1% below 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-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Empire State Realty Trust. For the REITs industry, the median EV-to-EBITDA is 15.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Empire State Realty Trust's current EV-to-EBITDA is 10.89, which is 35% below median its own 10-year median of 16.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Empire State Realty Trust stock overvalued right now?
Based on GuruFocus' analysis, Empire State Realty Trust (ESRT) is currently considered Possible Value Trap. The stock's GF Value™ is $8.84, compared to a current price of $5.69 — trading 35.7% below its estimated fair value. The current EV-to-EBITDA is 10.89, which is 35% below median its 10-year median of 16.81 and 29.1% below the REITs industry median of 15.35. Empire State Realty Trust's overall GF Score™ is 62/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Empire State Realty Trust (ESRT), the current EV-to-EBITDA is 10.89 as of Jul. 15, 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 Empire State Realty Trust (ESRT) Overvalued in 2026?
Based on GuruFocus' analysis, Empire State Realty Trust stock appears to be undervalued.
The current stock price of $5.69 is trading 35.7% below its estimated GF Value™ of $8.84.
GuruFocus considers Empire State Realty Trust to be Possible Value Trap.
Key valuation signals for ESRT:
EV-to-EBITDA: 10.89 (35% below median its 10-year median of 16.81)
GF Value™: $8.84 vs. price of $5.69 (35.7% below fair value)
Industry Position: 29.1% below the REITs median (#167 of 683)
No single metric tells the full story. See the ESRT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Empire State Realty Trust Inc is a real estate investment trust (REIT) that owns and operates office, retail, and multifamily properties located in New York City, prominently in Manhattan. Its portfolio includes office and retail space as well as residential units. The company's objective is to maximize cash flow and total returns to its shareholders and to increase the value of the properties. Its reportable segments consist of a real estate segment and an Observatory segment. The majority of revenue is derived from the Real Estate segment, which includes all activities related to the ownership, management, operation, acquisition, redevelopment, repositioning and disposition of its traditional real estate assets.
62GF Score
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