Empire State Realty TrustESRT +3.27%64 EV-to-FCF is 17.12 as of Jul. 04, 2026, which is 27% below its 10-year median of 23.55. GuruFocus rates ESRT with a GF Score™ of 64/100 and a GF Value™ of $8.82 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 738 REITs companies, Empire State Realty Trust ranks better than 66.26% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Empire State Realty Trust's Enterprise Value is $4,019.4 Mil.
Empire State Realty Trust's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $234.8 Mil. Therefore, Empire State Realty Trust's EV-to-FCF for today is 17.12.
The historical rank and industry rank for Empire State Realty Trust's EV-to-FCF or its related term are showing as below:
ESRT'
s EV-to-FCF Range Over the Past 10 Years
Min: 16.66 Med: 23.55 Max: 40.97
Current: 17.12
During the past 13 years, the highest EV-to-FCF of Empire State Realty Trust was 40.97. The lowest was 16.66. And the median was 23.55.
ESRT's EV-to-FCF is ranked better than 66.26% of 738
companies
in the REITs industry
Industry Median: 23.01
vs ESRT: 17.12
EV-to-FCF 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-FCF Explanation
EV-to-FCF 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 $5.69.
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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Empire State Realty Trust EV-to-FCF Related Terms
Empire State Realty Trust EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs REITs Industry
For the REITs industry and Real Estate sector, Empire State Realty Trust's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Empire State Realty Trust's EV-to-FCF falls into.
Empire State Realty Trust's current Enterprise Value is $4,019.4 Mil.
Empire State Realty Trust's Free Cash Flow 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-FCF of 17.12 as of Jul. 04, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Empire State Realty Trust and its competitors. This is 27% below median its historical median of 23.55. Over the past decade, Empire State Realty Trust's EV-to-FCF has ranged from 16.66 to 40.97. According to the industry distribution chart, Empire State Realty Trust ranks #249 out of 738 companies in the REITs industry, placing it in the top 33.7%.
Is Empire State Realty Trust's EV-to-FCF too high?
Empire State Realty Trust's current EV-to-FCF of 17.12 is 27% below median its 10-year median of 23.55. 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-FCF is 23.01. Empire State Realty Trust's value of 17.12 is 25.6% below this industry median. Based on the distribution chart, Empire State Realty Trust ranks #249 out of 738 companies in the REITs industry, which is above the industry midpoint. Overall, Empire State Realty Trust has a GF Score™ of 64/100 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-FCF compare to JBGS and CTO?
According to the REITs industry distribution chart, Empire State Realty Trust ranks #249 out of 738 companies for EV-to-FCF. This puts Empire State Realty Trust in the upper half of its industry. The industry median EV-to-FCF is 23.01. Empire State Realty Trust's value of 17.12 is 25.6% below this benchmark. Historically, Empire State Realty Trust's own EV-to-FCF has ranged from 16.66 to 40.97 over the past decade. While the company's 10-year median is 23.55 vs. the industry median of 23.01, 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-FCF for a REITs company?
The median EV-to-FCF among REITs companies is 23.01, based on 738 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF 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-FCF of 17.12 is 25.6% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Empire State Realty Trust and its competitors. For the REITs industry, the median EV-to-FCF is 23.01 — 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-FCF is 17.12, which is 27% below median its own 10-year median of 23.55. 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 $8.82, compared to a current price of $5.69 — trading 35.5% below its estimated fair value. The current EV-to-FCF is 17.12, which is 27% below median its 10-year median of 23.55 and 25.6% below the REITs industry median of 23.01. Empire State Realty Trust's overall GF Score™ is 64/100 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Empire State Realty Trust (ESRT), the current EV-to-FCF is 17.12 as of Jul. 04, 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 35.5% below its estimated GF Value™ of $8.82.
GuruFocus considers Empire State Realty Trust to be Possible Value Trap.
Key valuation signals for ESRT:
EV-to-FCF: 17.12 (27% below median its 10-year median of 23.55)
GF Value™: $8.82 vs. price of $5.69 (35.5% below fair value)
Industry Position: 25.6% below the REITs median (#249 of 738)
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.
64GF Score
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