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Side-by-side financial comparison of Douglas Emmett Inc (DEI) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Douglas Emmett Inc is the larger business by last-quarter revenue ($249.4M vs $143.3M, roughly 1.7× Piedmont Realty Trust, Inc.). Douglas Emmett Inc runs the higher net margin — -2.7% vs -31.4%, a 28.7% gap on every dollar of revenue. On growth, Douglas Emmett Inc posted the faster year-over-year revenue change (1.8% vs 0.4%). Over the past eight quarters, Douglas Emmett Inc's revenue compounded faster (0.9% CAGR vs 0.0%).
Douglas Emmett Inc is a leading real estate investment trust (REIT) that owns, operates, and acquires high-quality office and multifamily residential properties. Its core operation areas are high-barrier-to-entry markets including Los Angeles in California and Honolulu in Hawaii, serving premium commercial and residential tenant segments.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
DEI vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $249.4M | $143.3M |
| Net Profit | $-6.8M | $-45.0M |
| Gross Margin | 62.2% | — |
| Operating Margin | — | — |
| Net Margin | -2.7% | -31.4% |
| Revenue YoY | 1.8% | 0.4% |
| Net Profit YoY | -670.7% | -27.9% |
| EPS (diluted) | $-0.04 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $143.3M | ||
| Q4 25 | $249.4M | $142.9M | ||
| Q3 25 | $250.6M | $139.2M | ||
| Q2 25 | $252.4M | $140.3M | ||
| Q1 25 | $251.5M | $142.7M | ||
| Q4 24 | $245.0M | $143.2M | ||
| Q3 24 | $250.8M | $139.3M | ||
| Q2 24 | $245.8M | $143.3M |
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $-6.8M | $-43.2M | ||
| Q3 25 | $-10.9M | $-13.5M | ||
| Q2 25 | $-5.8M | $-16.8M | ||
| Q1 25 | $39.8M | $-10.1M | ||
| Q4 24 | $-888.0K | $-30.0M | ||
| Q3 24 | $4.6M | $-11.5M | ||
| Q2 24 | $10.9M | $-9.8M |
| Q1 26 | — | — | ||
| Q4 25 | 62.2% | — | ||
| Q3 25 | 63.6% | — | ||
| Q2 25 | 63.2% | — | ||
| Q1 25 | 64.4% | — | ||
| Q4 24 | 63.5% | — | ||
| Q3 24 | 62.2% | — | ||
| Q2 24 | 66.2% | — |
| Q1 26 | — | -31.4% | ||
| Q4 25 | -2.7% | -30.3% | ||
| Q3 25 | -4.3% | -9.7% | ||
| Q2 25 | -2.3% | -12.0% | ||
| Q1 25 | 15.8% | -7.1% | ||
| Q4 24 | -0.4% | -20.9% | ||
| Q3 24 | 1.8% | -8.3% | ||
| Q2 24 | 4.4% | -6.8% |
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $-0.04 | $-0.34 | ||
| Q3 25 | $-0.07 | $-0.11 | ||
| Q2 25 | $-0.04 | $-0.14 | ||
| Q1 25 | $0.24 | $-0.08 | ||
| Q4 24 | $-0.01 | $-0.25 | ||
| Q3 24 | $0.03 | $-0.09 | ||
| Q2 24 | $0.06 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $340.8M | $2.3M |
| Total DebtLower is stronger | $5.5B | — |
| Stockholders' EquityBook value | $1.9B | $1.5B |
| Total Assets | $9.3B | $4.0B |
| Debt / EquityLower = less leverage | 2.91× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.3M | ||
| Q4 25 | $340.8M | $731.0K | ||
| Q3 25 | $408.5M | $3.0M | ||
| Q2 25 | $426.9M | $3.3M | ||
| Q1 25 | $525.7M | $2.9M | ||
| Q4 24 | $444.6M | $109.6M | ||
| Q3 24 | $544.2M | $133.6M | ||
| Q2 24 | $561.1M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $2.2B | ||
| Q3 25 | $5.6B | $2.2B | ||
| Q2 25 | $5.6B | $2.2B | ||
| Q1 25 | $5.6B | $2.2B | ||
| Q4 24 | $5.5B | $2.2B | ||
| Q3 24 | $5.5B | $2.2B | ||
| Q2 24 | $5.5B | $2.2B |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $2.0B | $1.6B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.2B | $1.7B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $9.3B | $4.0B | ||
| Q3 25 | $9.4B | $4.0B | ||
| Q2 25 | $9.4B | $4.0B | ||
| Q1 25 | $9.6B | $4.0B | ||
| Q4 24 | $9.4B | $4.1B | ||
| Q3 24 | $9.5B | $4.1B | ||
| Q2 24 | $9.6B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 2.91× | 1.49× | ||
| Q3 25 | 2.85× | 1.43× | ||
| Q2 25 | 2.78× | 1.41× | ||
| Q1 25 | 2.75× | 1.40× | ||
| Q4 24 | 2.67× | 1.40× | ||
| Q3 24 | 2.64× | 1.36× | ||
| Q2 24 | 2.56× | 1.34× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $386.9M | — |
| Free Cash FlowOCF − Capex | $194.5M | — |
| FCF MarginFCF / Revenue | 78.0% | — |
| Capex IntensityCapex / Revenue | 77.1% | 110.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $376.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $386.9M | $140.6M | ||
| Q3 25 | $109.8M | $35.8M | ||
| Q2 25 | $81.3M | $50.1M | ||
| Q1 25 | $132.6M | $3.7M | ||
| Q4 24 | $408.7M | $198.1M | ||
| Q3 24 | $103.7M | $42.9M | ||
| Q2 24 | $91.9M | $66.8M |
| Q1 26 | — | — | ||
| Q4 25 | $194.5M | — | ||
| Q3 25 | $61.9M | — | ||
| Q2 25 | $30.2M | — | ||
| Q1 25 | $90.3M | — | ||
| Q4 24 | $241.4M | — | ||
| Q3 24 | $63.2M | — | ||
| Q2 24 | $52.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 78.0% | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | 35.9% | — | ||
| Q4 24 | 98.5% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 21.2% | — |
| Q1 26 | — | 110.3% | ||
| Q4 25 | 77.1% | — | ||
| Q3 25 | 19.1% | — | ||
| Q2 25 | 20.3% | — | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 68.3% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 16.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 22.46× | — | ||
| Q2 24 | 8.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DEI
| Rental Revenue And Tenant Recovery Revenue | $169.4M | 68% |
| Multifamily Segment | $49.9M | 20% |
| Parking Revenue And Other Income | $30.2M | 12% |
PDM
Segment breakdown not available.
