DEA Real Estate

Easterly Government Properties, Inc.

$22.65-0.09%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Real Estate
Industry: REIT - Office
Country: United States
Market cap: 1.1B USD
Enterprise value: 2.7B USD
Full-time employees: 55

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.97 vs a peer median of 0.75), though less than the overall market, less short-term liquidity (current ratio 0.60 vs a peer median of 1.20) and more debt relative to equity (1.30× vs a peer median of 0.80×)higher risk: bigger price swings (beta 0.97 vs peers 0.75), less liquidity (current ratio 0.60 vs peers 1.20) and more debt vs equity (1.30× vs peers 0.80×)
About average: growth

Ranks #424 of 632 real estate companies (bottom 34%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 30% from December 2022 to July 2026.
Easterly Government Properties had 30% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Easterly Government Properties had 30% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Valuation signals disagree. Cheaper than 90% of peers on free cash flow, but only 26% on earnings.
Relative to its free cash flow, Easterly Government Properties looks cheaper than 90% of peers; relative to its earnings, cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.
Cash flow well above reported profit. Free cash flow is 25.4× reported profit.
Free cash flow is 25.4× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

76/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ FCF yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.91Sector median: 0.0535 · MAD: 0.0484

EBITDA yield7.6%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 1.08Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield24.2%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 3.99Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield122.7%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

47/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.3%

Why

Mixed versus peers:

▲ Revenue growth
▲ 3-yr revenue
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-44.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.78Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth7.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.44Sector median: 0.0378 · MAD: 0.0744

Revenue growth13.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.09Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

28/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.3%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score -0.07Sector median: 0.2683 · MAD: 0.2257

Return on assets0.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.35Sector median: 0.0211 · MAD: 0.0134

Return on invested capital2.4%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -0.52Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin77.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity0.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 21 → 20

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.97

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.69Sector median: 0.7490 · MAD: 0.3270

Current ratio0.60×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -0.82Sector median: 1.1950 · MAD: 0.7210

Debt / equity1.30×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.27Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Easterly Government Properties

Is Easterly Government Properties getting weaker?: Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Easterly Government Properties valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 76/100 against 762 real estate peers. Free cash flow yield 24.2% vs a peer median of 6.5% (stronger than 90% of peers).Free cash flow yield 24.2% vs peers 6.5% (stronger than 90% of peers). Earnings yield 1.0% vs a peer median of 5.3% (weaker than 74% of peers).Earnings yield 1.0% vs peers 5.3% (weaker than 74% of peers).
Is Easterly Government Properties growing?: At about the same pace as its peers. Growth scores 47/100 against 762 real estate peers. Revenue growth 13.0% vs a peer median of 3.0% (stronger than 77% of peers).Revenue growth 13.0% vs peers 3.0% (stronger than 77% of peers). Earnings per share growth -44.1% vs a peer median of 11.2% (weaker than 87% of peers).Earnings per share growth -44.1% vs peers 11.2% (weaker than 87% of peers).
How profitable is Easterly Government Properties?: Less profitable than most of its peers. Profitability scores 28/100 against 762 real estate peers. Return on assets 0.3% vs a peer median of 2.1% (weaker than 78% of peers).Return on assets 0.3% vs peers 2.1% (weaker than 78% of peers).
How risky is Easterly Government Properties?: Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 1.30× vs a peer median of 0.80× (weaker than 75% of peers).Debt / equity 1.30× vs peers 0.80× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 3, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	349.0M USD	357.2M USD	+2.3%
Net income (12 months)	11.2M USD	10.2M USD	−9.1%
Debt	1.7B USD	1.7B USD	−0.3%
Cash	2.0M USD	3.3M USD	+63.6%
Shares outstanding	46.4M	47.3M	+1.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Office companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	79.4%	77.3%	74.9%	76.8%	76.9%	▲ 0.2 pts
Net margin	10.9%	10.7%	6.5%	6.5%	3.9%	▼ 2.6 pts
Return on assets (ROA)	1.1%	1.1%	0.7%	0.6%	0.4%	▼ 0.2 pts
Return on equity (ROE)	2.3%	2.5%	1.4%	1.5%	1.0%	▼ 0.5 pts
Debt to equity	0.94×	1.01×	0.98×	1.21×	1.26×	▲ 4.1%

DEA price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

Dear Life Co.,Ltd.3245.T95/ 100

Sakura Development Co.,Ltd2539.TW94/ 100

Millrose Properties, Inc.MRP94/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.97 vs a peer median of 0.75), though less than the overall market, less short-term liquidity (current ratio 0.60 vs a peer median of 1.20) and more debt relative to equity (1.30× vs a peer median of 0.80×)higher risk: bigger price swings (beta 0.97 vs peers 0.75), less liquidity (current ratio 0.60 vs peers 1.20) and more debt vs equity (1.30× vs peers 0.80×)

About average: growth

Ranks #424 of 632 real estate companies (bottom 34%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 30% from December 2022 to July 2026.

Easterly Government Properties had 30% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Easterly Government Properties had 30% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Valuation signals disagree. Cheaper than 90% of peers on free cash flow, but only 26% on earnings.

Relative to its free cash flow, Easterly Government Properties looks cheaper than 90% of peers; relative to its earnings, cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.

Cash flow well above reported profit. Free cash flow is 25.4× reported profit.

Free cash flow is 25.4× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about Easterly Government Properties

Is Easterly Government Properties getting weaker?

Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Easterly Government Properties valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 76/100 against 762 real estate peers. Free cash flow yield 24.2% vs a peer median of 6.5% (stronger than 90% of peers).Free cash flow yield 24.2% vs peers 6.5% (stronger than 90% of peers). Earnings yield 1.0% vs a peer median of 5.3% (weaker than 74% of peers).Earnings yield 1.0% vs peers 5.3% (weaker than 74% of peers).

Is Easterly Government Properties growing?

At about the same pace as its peers. Growth scores 47/100 against 762 real estate peers. Revenue growth 13.0% vs a peer median of 3.0% (stronger than 77% of peers).Revenue growth 13.0% vs peers 3.0% (stronger than 77% of peers). Earnings per share growth -44.1% vs a peer median of 11.2% (weaker than 87% of peers).Earnings per share growth -44.1% vs peers 11.2% (weaker than 87% of peers).

How profitable is Easterly Government Properties?

Less profitable than most of its peers. Profitability scores 28/100 against 762 real estate peers. Return on assets 0.3% vs a peer median of 2.1% (weaker than 78% of peers).Return on assets 0.3% vs peers 2.1% (weaker than 78% of peers).

How risky is Easterly Government Properties?

Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 1.30× vs a peer median of 0.80× (weaker than 75% of peers).Debt / equity 1.30× vs peers 0.80× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

349.0M USD

357.2M USD

+2.3%

Net income (12 months)

11.2M USD

10.2M USD

−9.1%

Debt

1.7B USD

1.7B USD

−0.3%

Cash

2.0M USD

3.3M USD

+63.6%

Shares outstanding

46.4M

47.3M

+1.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

79.4%

77.3%

74.9%

76.8%

76.9%

▲ 0.2 pts

Net margin

10.9%

10.7%

6.5%

3.9%

▼ 2.6 pts

Return on assets (ROA)

1.1%

0.7%

0.6%

0.4%

▼ 0.2 pts

Return on equity (ROE)

2.3%

2.5%

1.4%

1.5%

1.0%

▼ 0.5 pts

Debt to equity

0.94×

1.01×

0.98×

1.21×

1.26×

▲ 4.1%