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Empire State Realty TrustESRT +1.01%62 EV-to-OCF is 16.97 as of Jul. 23, 2026, which is 28% below its 10-year median of 23.46. GuruFocus rates ESRT with a GF Score™ of 62/100 and a GF Value™ of $8.85 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 934 REITs companies, Empire State Realty Trust ranks better than 54.71% on this metric.
The historical rank and industry rank for Empire State Realty Trust's EV-to-OCF or its related term are showing as below:
ESRT'
s EV-to-OCF Range Over the Past 10 Years
Min: 16.66 Med: 23.46 Max: 40.97
Current: 16.97
During the past 13 years, the highest EV-to-OCF of Empire State Realty Trust was 40.97. The lowest was 16.66. And the median was 23.46.
ESRT's EV-to-OCF is ranked better than 54.71% of 934
companies
in the REITs industry
Industry Median: 18.415
vs ESRT: 16.97
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 (NYSE:ESRT) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $5.485.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Empire State Realty Trust EV-to-OCF Related Terms
Empire State Realty Trust EV-to-OCF Historical Data
* 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-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs REITs Industry
For the REITs industry and Real Estate sector, Empire State Realty Trust's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Empire State Realty Trust's EV-to-OCF falls into.
Empire State Realty Trust's current Enterprise Value is $3,984.1 Mil.
Empire State Realty Trust's Cash Flow from Operations 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 $234.8 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-OCF of 16.97 as of Jul. 23, 2026. This is 28% below median its historical median of 23.46. Over the past decade, Empire State Realty Trust's EV-to-OCF has ranged from 16.66 to 40.97. According to the industry distribution chart, Empire State Realty Trust ranks #423 out of 934 companies in the REITs industry, placing it in the top 45.3%.
Is Empire State Realty Trust's EV-to-OCF too high?
Empire State Realty Trust's current EV-to-OCF of 16.97 is 28% below median its 10-year median of 23.46. Over the past 10 years, this metric has ranged from a low of 16.66 to a high of 40.97. The REITs industry median EV-to-OCF is 18.42. Empire State Realty Trust's value of 16.97 is 7.8% below this industry median. Based on the distribution chart, Empire State Realty Trust ranks #423 out of 934 companies in the REITs industry, which is above the industry midpoint. 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-OCF compare to JBGS and CTO?
According to the REITs industry distribution chart, Empire State Realty Trust ranks #423 out of 934 companies for EV-to-OCF. This puts Empire State Realty Trust in the upper half of its industry. The industry median EV-to-OCF is 18.42. Empire State Realty Trust's value of 16.97 is 7.8% below this benchmark. Historically, Empire State Realty Trust's own EV-to-OCF has ranged from 16.66 to 40.97 over the past decade. While the company's 10-year median is 23.46 vs. the industry median of 18.42, 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-OCF for a REITs company?
The median EV-to-OCF among REITs companies is 18.42, based on 934 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF 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-OCF of 16.97 is 7.8% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the REITs industry, the median EV-to-OCF is 18.42 — 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-OCF is 16.97, which is 28% below median its own 10-year median of 23.46. 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 $8.85, compared to a current price of $5.49 — trading 38% below its estimated fair value. The current EV-to-OCF is 16.97, which is 28% below median its 10-year median of 23.46 and 7.8% below the REITs industry median of 18.42. 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-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Empire State Realty Trust (ESRT), the current EV-to-OCF is 16.97 as of Jul. 23, 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 $5.49 is trading 38% below its estimated GF Value™ of $8.85.
GuruFocus considers Empire State Realty Trust to be Possible Value Trap.
Key valuation signals for ESRT:
EV-to-OCF: 16.97 (28% below median its 10-year median of 23.46)
GF Value™: $8.85 vs. price of $5.49 (38% below fair value)
Industry Position: 7.8% below the REITs median (#423 of 934)
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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