Empire State Realty OP LP ES (ESBA) - Net Assets
Based on the latest financial reports, Empire State Realty OP LP ES (ESBA) has net assets worth $1.82 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($4.41 Billion) and total liabilities ($2.58 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check ESBA goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.82 Billion |
| % of Total Assets | 41.4% |
| Annual Growth Rate | N/A |
| 5-Year Change | 8.18% |
| 10-Year Change | -8.1% |
| Growth Volatility | 88.15 |
Empire State Realty OP LP ES - Net Assets Trend (2009–2025)
This chart illustrates how Empire State Realty OP LP ES's net assets have evolved over time, based on quarterly financial data. See Empire State Realty OP LP ES defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Empire State Realty OP LP ES (2009–2025)
The table below shows the annual net assets of Empire State Realty OP LP ES from 2009 to 2025. For live valuation and market cap data, see market value of Empire State Realty OP LP ES.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.82 Billion | +2.26% |
| 2024-12-31 | $1.78 Billion | +2.94% |
| 2023-12-31 | $1.73 Billion | +2.85% |
| 2022-12-31 | $1.68 Billion | -0.07% |
| 2021-12-31 | $1.68 Billion | -2.71% |
| 2020-12-31 | $1.73 Billion | -11.12% |
| 2019-12-31 | $1.95 Billion | -2.17% |
| 2018-12-31 | $1.99 Billion | +0.68% |
| 2017-12-31 | $1.98 Billion | -0.26% |
| 2016-12-31 | $1.98 Billion | +44.45% |
| 2015-12-31 | $1.37 Billion | -0.61% |
| 2014-12-31 | $1.38 Billion | +37.67% |
| 2013-12-31 | $1.00 Billion | +9338.28% |
| 2012-12-31 | $-10.86 Million | -319.55% |
| 2011-12-31 | $4.95 Million | +145.98% |
| 2010-12-31 | $-10.76 Million | +41.08% |
| 2009-12-31 | $-18.26 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Empire State Realty OP LP ES's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 3964800000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $1.71 Million | 0.16% |
| Other Comprehensive Income | $6.50 Million | 0.61% |
| Other Components | $1.09 Billion | 102.97% |
| Total Equity | $1.06 Billion | 100.00% |
Empire State Realty OP LP ES Competitors by Market Cap
The table below lists competitors of Empire State Realty OP LP ES ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Intech Biopharm Ltd
TWO:6461
|
$85.97 Million |
|
CanAlaska Uranium Ltd
V:CVV
|
$85.98 Million |
|
Tex Year Industries Inc
TW:4720
|
$86.05 Million |
|
Trans Power Marine Tbk
JK:TPMA
|
$86.05 Million |
|
Daishin Balance 1
KQ:217270
|
$85.86 Million |
|
Appeninn Vagyonkezelo Holding Nyilvanosan Mukodo Reszvenytarsasag
F:0AP
|
$85.84 Million |
|
Dilli Illustrate Inc
KQ:131180
|
$85.83 Million |
|
Nuveen California Select Tax Free Income Closed Fund
NYSE:NXC
|
$85.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Empire State Realty OP LP ES's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,030,696,000 to 1,060,002,000, a change of 29,306,000 (2.8%).
- Net income of 47,601,000 contributed positively to equity growth.
- Dividend payments of 27,927,000 reduced retained earnings.
- Share repurchases of 8,122,000 reduced equity.
- Other comprehensive income decreased equity by 3,433,000.
- Other factors increased equity by 21,187,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $47.60 Million | +4.49% |
| Dividends Paid | $27.93 Million | -2.63% |
| Share Repurchases | $8.12 Million | -0.77% |
| Other Comprehensive Income | $-3.43 Million | -0.32% |
| Other Changes | $21.19 Million | +2.0% |
| Total Change | $- | 2.84% |
Book Value vs Market Value Analysis
This analysis compares Empire State Realty OP LP ES's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.34x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | $-0.20 | $5.27 | x |
| 2010-12-31 | $-0.12 | $5.27 | x |
| 2011-12-31 | $0.01 | $5.27 | x |
| 2012-12-31 | $-0.12 | $5.27 | x |
| 2013-12-31 | $10.49 | $5.27 | x |
| 2014-12-31 | $5.43 | $5.27 | x |
| 2015-12-31 | $5.15 | $5.27 | x |
| 2016-12-31 | $7.14 | $5.27 | x |
| 2017-12-31 | $6.64 | $5.27 | x |
| 2018-12-31 | $6.70 | $5.27 | x |
| 2019-12-31 | $4.13 | $5.27 | x |
| 2020-12-31 | $3.72 | $5.27 | x |
| 2021-12-31 | $3.63 | $5.27 | x |
| 2022-12-31 | $3.54 | $5.27 | x |
| 2023-12-31 | $6.52 | $5.27 | x |
| 2024-12-31 | $3.83 | $5.27 | x |
| 2025-12-31 | $3.93 | $5.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Empire State Realty OP LP ES utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.49%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.20%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 4.22x
- Recent ROE (4.49%) is below the historical average (263.18%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 0.00% | 18.01% | 0.26x | 0.00x | $43.66 Million |
| 2010 | 0.00% | 18.71% | 0.27x | 0.00x | $47.19 Million |
| 2011 | 4435.63% | 19.47% | 0.29x | 779.46x | $57.27 Million |
| 2012 | 0.00% | 18.69% | 0.25x | 0.00x | $49.73 Million |
| 2013 | 3.79% | 12.19% | 0.13x | 2.47x | $-62.31 Million |
| 2014 | 1.97% | 4.27% | 0.19x | 2.39x | $-110.97 Million |
| 2015 | 2.53% | 5.27% | 0.20x | 2.40x | $-102.60 Million |
| 2016 | 2.64% | 7.73% | 0.17x | 1.96x | $-145.89 Million |
| 2017 | 3.21% | 8.92% | 0.18x | 1.99x | $-134.19 Million |
| 2018 | 3.34% | 9.10% | 0.17x | 2.11x | $-132.57 Million |
| 2019 | 4.17% | 7.00% | 0.19x | 3.20x | $-71.66 Million |
| 2020 | -1.19% | -2.05% | 0.15x | 3.93x | $-118.04 Million |
| 2021 | -0.65% | -1.07% | 0.14x | 4.29x | $-106.32 Million |
| 2022 | 4.26% | 5.75% | 0.17x | 4.36x | $-54.79 Million |
| 2023 | 4.87% | 11.40% | 0.18x | 2.44x | $-88.77 Million |
| 2024 | 5.01% | 6.77% | 0.17x | 4.38x | $-51.43 Million |
| 2025 | 4.49% | 6.20% | 0.17x | 4.22x | $-58.40 Million |
Industry Comparison
This section compares Empire State Realty OP LP ES's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $2,071,098,300
- Average return on equity (ROE) among peers: 18.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Empire State Realty OP LP ES (ESBA) | $1.82 Billion | 0.00% | 1.42x | $85.87 Million |
| Alexandria Real Estate Equities Inc (ARE) | $849.91 Million | 7.46% | 1.78x | $9.02 Billion |
| Brandywine Realty Trust (BDN) | $1.89 Billion | -0.24% | 1.41x | $528.08 Million |
| Boston Properties Inc (BXP) | $8.10 Billion | 5.71% | 1.39x | $10.43 Billion |
| COPT Defense Properties (CDP) | $620.80 Million | 5.97% | 1.79x | $3.65 Billion |
| City Office (CIO) | $870.60 Million | 55.64% | 0.84x | $3.63 Million |
| Creative Media & Community Trust Corporation (CMCT) | $377.73 Million | 1.57% | 0.83x | $9.74 Million |
| Cousins Properties Incorporated (CUZ) | $4.65 Billion | 3.59% | 0.62x | $4.40 Billion |
| Eerly Govt Ppty Inc (DEA) | $1.41 Billion | 1.33% | 1.04x | $1.10 Billion |
| Douglas Emmett Inc (DEI) | $17.05 Million | 98.95% | 140.66x | $2.03 Billion |
| Equity Commonwealth (EQC) | $1.93 Billion | 5.54% | 0.66x | $169.73 Million |
About Empire State Realty OP LP ES
Empire State Realty OP, L.P. operates as a subsidiary of Empire State Realty Trust, Inc.