Highwoods Properties, Inc. (HIW)

Highwoods Properties Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	96.02	162.65	104.25	151.33	163.96	323.31
Depreciation & Amortization	301.09	294.95	299.05	299.41	287.61	259.26
Stock-Based Compensation	9.69	8.21	8	6.98	7.55	8.65
Other Adjustments	-30.5	-82.31	-11.57	-50.84	-20.87	-170.06
Change in Receivables	-2.99	1.44	-3.22	-0.55	-10.96	5.74
Changes in Other Operating Activities	-11.07	-25.74	7.08	-19.38	-5.52	-12.33
Operating Cash Flow	375.73	359.21	403.58	386.96	421.78	414.56
Operating Cash Flow Growth	-0.47%	-11.00%	4.30%	-8.25%	1.74%	15.75%
Capital Expenditures	-831.98	-646.22	-239.81	-228.99	-466.44	-525.2
Sale of Property, Plant & Equipment	97.49	195.16	100.93	101.83	130.04	374.02
Payments for Business Acquisitions	-	-	-	-	-	-127.34
Proceeds from Business Divestments	-	24.14	-	-	-	-
Other Investing Activities	-43.28	-13.75	-163.56	-42.52	-278.4	-9.15
Investing Cash Flow	-753.63	-440.66	-302.44	-169.69	-614.8	-287.68
Short-Term Debt Issued	494	476	339	249	675	380
Short-Term Debt Repaid	-469	-555	-255	-615	-359	-310
Net Short-Term Debt Issued (Repaid)	25	-79	84	-366	316	70
Long-Term Debt Issued	348.28	379.88	-	590.35	550	200
Long-Term Debt Repaid	-38.69	-38.87	-7.06	-206.73	-456.44	-353.78
Net Long-Term Debt Issued (Repaid)	309.59	341.01	-7.06	383.63	93.56	-153.78
Issuance of Common Stock	62.9	63.02	53.52	1.74	7.57	23.92
Repurchase of Common Stock	-1.89	-2.02	-1.44	-1.49	-5.92	-1.72
Net Common Stock Issued (Repurchased)	61.01	61	52.08	0.25	1.65	22.2
Repurchase of Preferred Stock	-2.18	-2.12	-	-0.01	-	-0.01
Net Preferred Stock Issued (Repurchased)	-2.18	-2.12	-	-0.01	-	-0.01
Common Dividends Paid	-217.87	-216.73	-212.35	-211.02	-210.18	-204.18
Preferred Share Dividends Paid	-2.31	-2.36	-2.49	-2.49	-2.49	-2.49
Other Financing Activities	186.17	-10.98	-13.23	-9.79	-10.61	-16.67
Financing Cash Flow	391.01	90.83	-99.04	-205.43	187.93	-284.93
Net Cash Flow	13.12	9.37	2.11	11.85	-5.09	-158.05
Free Cash Flow	-456.24	-287.01	163.77	157.97	-44.66	-110.65
Free Cash Flow Growth	-	-	3.67%	-	-	-
FCF Margin	-55.66%	-35.60%	19.83%	18.94%	-5.39%	-14.41%
Free Cash Flow Per Share	-4.11	-2.60	1.51	1.47	-0.42	-1.03
Levered Free Cash Flow	-116.2	42.26	243.02	214.89	381.78	-51.27
Unlevered Free Cash Flow	-340.82	-176.33	254.45	273.98	18.38	-46.52

Updated Apr 28, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q