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DEI

Douglas Emmett, Inc.

DEI

Douglas Emmett, Inc. • NYSE
$12.19 ▼ -0.57% (-0.07)
Market Cap $2.04 B
52w High $20.50
52w Low $11.43
Dividend Yield 0.76%
P/E 101.58
Volume 671.74K
Outstanding Shares 167.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $250.58M ▼ $111.976M ▼ $-10.854M ▼ -4.332% ▼ $-0.065 ▼ $152.817M ▲
Q2-2025 $252.434M ▲ $114M ▲ $-5.835M ▼ -2.311% ▼ $-0.037 ▼ $147.364M ▼
Q1-2025 $251.535M ▲ $109.3M ▲ $39.8M ▲ 15.823% ▲ $0.24 ▲ $202.497M ▲
Q4-2024 $244.979M ▼ $107.795M ▲ $-888K ▼ -0.362% ▼ $-0.007 ▼ $150.424M ▼
Q3-2024 $250.753M $107.289M $4.618M 1.842% $0.026 $153.744M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $408.483M ▼ $9.385B ▼ $5.862B ▲ $1.948B ▼
Q2-2025 $426.889M ▼ $9.434B ▼ $5.842B ▼ $1.999B ▼
Q1-2025 $525.696M ▲ $9.578B ▲ $5.924B ▲ $2.046B ▼
Q4-2024 $444.623M ▼ $9.404B ▼ $5.745B ▼ $2.059B ▼
Q3-2024 $544.227M $9.452B $5.794B $2.09B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-21.195M ▼ $109.769M ▲ $-83.784M ▼ $-44.391M ▲ $-18.406M ▲ $25.692M ▲
Q2-2025 $-15.063M ▼ $81.291M ▼ $-71.227M ▼ $-108.871M ▼ $-98.807M ▼ $8.186M ▼
Q1-2025 $44.579M ▲ $132.636M ▲ $-33.948M ▲ $-17.615M ▲ $81.073M ▲ $72.815M ▲
Q4-2024 $-7.514M ▼ $74.103M ▼ $-84.191M ▼ $-89.516M ▼ $-99.604M ▼ $-10.475M ▼
Q3-2024 $-260K $103.702M $-46.34M $-74.273M $-16.911M $56.396M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Tenant Recoveries
Tenant Recoveries
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Douglas Emmett’s revenues have been fairly steady over the last five years, with only modest growth and no sign of sharp swings. Operating performance has been consistently positive, suggesting the core portfolio still generates solid property-level profits. However, after several years of losses, the company has only recently returned to a small profit, which shows progress but also highlights that overall earnings remain thin and sensitive to any downturn in rents, occupancy, or costs.

Balance Sheet

Balance Sheet The balance sheet is asset-heavy, as expected for an office-focused REIT, and total assets have been broadly stable. Debt has crept higher over time while equity has edged down from prior peaks, meaning leverage is meaningful and leaves less room for major shocks. The company does keep a noticeable cash buffer, which helps liquidity, but the overall picture is one of a leveraged landlord that needs stable cash flows and access to financing markets to stay comfortable.

Cash Flow

Cash Flow Cash flow from operations has been reliable and fairly stable, which is a positive sign for a property owner that depends on rent collections. After funding capital expenditures, the company still generates positive free cash flow, although the cushion has narrowed recently. Investment spending on properties remains steady, indicating an ongoing commitment to keep the portfolio competitive, but it also limits how much cash is left over for debt reduction or other uses.

Competitive Edge

Competitive Edge Douglas Emmett’s strength lies in its sharp focus on a few, very high-barrier coastal markets—prime parts of Los Angeles and Honolulu—where it is one of the dominant office landlords. These areas are difficult and slow to build in, which helps support long-term pricing power and occupancy compared with more commoditized markets. The vertically integrated model and emphasis on smaller, diversified tenants can make revenue more resilient, but heavy exposure to office space leaves the company tied to long-term trends in how much space businesses actually want.

Innovation and R&D

Innovation and R&D While not a tech firm, the company has leaned into operational innovation: strong energy-efficiency initiatives, data-driven energy management, and a highly integrated in-house leasing, design, and construction platform. These efforts can lower ongoing costs and improve the tenant experience, supporting margins over time. The push into office-to-residential conversions and a pipeline of new multifamily units shows a willingness to adapt the portfolio to shifting demand, though execution risk and regulatory complexity remain important watchpoints.

Summary

Overall, Douglas Emmett looks like a focused, operationally disciplined office and multifamily REIT with stable cash flows and a strong foothold in scarce, high-end coastal markets. Its main financial positives are steady rental cash generation and a recent return to modest profitability, offset by fairly high leverage and thin net margins. Strategically, its concentration in high-barrier markets and integrated platform support a durable competitive position, but the reliance on office assets and elevated debt levels leave the company exposed if office fundamentals weaken further or financing becomes more expensive. The evolution of its conversion projects, multifamily developments, and sustainability initiatives will be key signals of how well it can navigate the changing real estate landscape.

NEWS

November 4, 2025 · 4:27 PM UTC

Douglas Emmett Releases Third Quarter 2025 Earnings Results

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October 1, 2025 · 5:00 PM UTC

Douglas Emmett Announces Dates for Its 2025 Third Quarter Earnings Results and Live Conference Call

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