Empire State Realty Trust, Inc. — Earnings Quality Grade F
ESRT · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 10 days, change -5 days YoY
AR growth -29.8% vs revenue growth 0.6%
Revenue 0.6%, CFFO -4.5%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
SG&A/Gross Profit = 18.1%, excellent (<30%)
Gross margin 52.5%, change -1.1pp. Stable
Cash Flow Quality
CFFO/NI = 5.23. Profits backed by cash
FCF $0.2B, FCF/NI = 5.23
Accruals ratio = -4.5%. Low accruals
Cash $0.1B covers only 6% of debt $2.4B
Balance Sheet Health
Goodwill+Intangibles $0.8B = 75% of equity. Over 50%
Debt/EBITDA = 6.4x (>4x). Interest coverage = 1.3x (<2x). Financial stress
Other assets -8.3% vs revenue 0.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.90 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score — Not Applicable
Empire State Realty Trust, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25