Empire State Realty OP LP (OGCP) Income Statement
OGCP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOGCP revenue and net income
Where OGCP's revenue goes
2025Each bar shows an amount and its share of revenue. OGCP kept 6.2% of revenue as net income.
OGCP profit margins
OGCP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.0% | +1.9% | +4.7% | +1.6% |
| Gross profit | −96.7% | −67.7% | −46.7% | −27.9% |
| Operating income | −14.5% | +2.2% | +18.3% | −1.1% |
| Net income | −40.8% | −9.1% | — | −5.0% |
| EPS (diluted) | −7.1% | +13.0% | — | −2.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OGCP quarterly EPS vs estimates
Empire State Realty OP beat the analyst EPS estimate in 3 of the last 3 quarters.
OGCP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $768.3M | $767.9M | $739.6M | $727.0M | $624.1M | $609.2M | $731.3M | $732.7M | $712.5M | $678.0M |
| Cost of revenue | $754.5M | $354.2M | $339.0M | $321.4M | $683.1M | $291.1M | $334.0M | $319.5M | $305.6M | $289.1M |
| Gross profit | $13.7M | $413.8M | $400.6M | $405.7M | −$59.0M | $318.1M | $397.4M | $413.3M | $406.9M | $388.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $72.8M | $70.2M | $63.9M | $61.8M | $55.9M | $62.2M | $61.1M | $52.7M | $50.3M | $49.1M |
| Total operating expenses | −$121.9M | $255.1M | $253.8M | $278.7M | −$145.9M | $541.2M | $242.7M | $221.2M | $211.0M | $204.3M |
| Operating income | $135.6M | $158.7M | $146.7M | $127.0M | $79.1M | $58.7M | $154.7M | $192.1M | $195.8M | $184.5M |
| Interest income | $8.7M | $21.3M | $15.1M | $4.9M | $704,000 | $2.6M | $11.3M | $10.7M | — | — |
| Interest expense | $103.8M | $109.7M | $101.5M | $101.2M | $94.4M | $89.9M | $79.2M | $79.6M | $68.5M | $71.1M |
| Income before taxes | $75.5M | $83.0M | $87.1M | $64.8M | −$14.8M | −$29.9M | $86.7M | $121.9M | $124.9M | $113.4M |
| Income taxes | $2.6M | $2.7M | $2.7M | $1.5M | −$1.7M | −$7.0M | $2.4M | $4.6M | $6.7M | $6.1M |
| Net income | $47.6M | $80.4M | $84.3M | $63.5M | −$13.0M | −$22.9M | $84.3M | $66.5M | $63.6M | $107.2M |
| EBITDA | $374.1M | $343.5M | $383.9M | $378.7M | $283.4M | $255.3M | $347.6M | $371.7M | $341.6M | $338.2M |
| EPS (diluted) | $0.26 | $0.28 | $0.30 | $0.18 | −$0.07 | −$0.12 | $0.27 | $0.39 | $0.39 | $0.38 |
| Gross margin | 1.8% | 53.9% | 54.2% | 55.8% | −9.5% | 52.2% | 54.3% | 56.4% | 57.1% | 57.4% |
| Operating margin | 17.7% | 20.7% | 19.8% | 17.5% | 12.7% | 9.6% | 21.2% | 26.2% | 27.5% | 27.2% |
| Net margin | 6.2% | 10.5% | 11.4% | 8.7% | −2.1% | −3.8% | 11.5% | 9.1% | 8.9% | 15.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $196.9M | $190.3M | $199.2M | $197.7M | $191.2M | $180.1M | $197.6M | $199.6M | $189.5M | $181.2M | $192.9M | $191.5M |
| Cost of revenue | $194.8M | $193.0M | $551.4M | $33.2M | $32.6M | $137.3M | $91.4M | $43.9M | $84.7M | $134.1M | $136.0M | $86.6M |
| Gross profit | $2.1M | −$2.7M | −$352.1M | $164.5M | $158.6M | $42.7M | $106.2M | $155.7M | $104.9M | $47.0M | $56.9M | $104.9M |
| Sales, general & admin | $25.1M | $18.1M | $18.5M | $18.7M | $18.7M | $16.9M | $17.9M | $18.4M | $18.0M | $16.0M | $16.1M | $16.0M |
| Total operating expenses | −$25.3M | −$32.1M | −$32.1M | $125.2M | −$29.1M | −$233.7M | $63.2M | $110.4M | $54.7M | $16.0M | $16.1M | $62.6M |
| Operating income | $27.4M | $29.5M | $35.4M | $39.3M | $35.1M | $25.8M | $42.9M | $45.3M | $39.4M | $31.1M | $40.8M | $42.3M |
| Interest income | $1.6M | $613,000 | $1.9M | $1.1M | $1.9M | $3.8M | $5.1M | $7.0M | $5.1M | $4.2M | $4.7M | $4.5M |
| Interest expense | $27.8M | $28.1M | $25.9M | $25.2M | $25.1M | $27.6M | $29.3M | $29.3M | $26.0M | $25.1M | $25.4M | $25.4M |
| Income before taxes | −$40.3M | $1.9M | $33.2M | $15.3M | $11.9M | $15.2M | $19.9M | $24.2M | $29.3M | $9.6M | $17.6M | $21.3M |
| Income taxes | $767,000 | $1.1M | $1.1M | −$1.6M | $478,000 | −$619,000 | $1.2M | $1.4M | $750,000 | −$655,000 | $1.8M | $1.4M |
| Net income | −$24.8M | $3.0M | $20.7M | $13.6M | $11.4M | $10.3M | $18.8M | $14.6M | $17.1M | $10.2M | $15.8M | $19.8M |
| EBITDA | $37.9M | $80.3M | $110.9M | $89.2M | $85.9M | $75.7M | $88.3M | $92.7M | $81.1M | $78.6M | $90.4M | $132.2M |
| EPS (diluted) | −$0.24 | $0.01 | $0.12 | $0.05 | $0.04 | $0.05 | $0.06 | $0.08 | $0.10 | $0.03 | $0.06 | $0.07 |
| Gross margin | 1.1% | −1.4% | −176.8% | 83.2% | 83.0% | 23.7% | 53.7% | 78.0% | 55.3% | 26.0% | 29.5% | 54.8% |
| Operating margin | 13.9% | 15.5% | 17.8% | 19.9% | 18.4% | 14.3% | 21.7% | 22.7% | 20.8% | 17.1% | 21.1% | 22.1% |
| Net margin | −12.6% | 1.6% | 10.4% | 6.9% | 6.0% | 5.7% | 9.5% | 7.3% | 9.0% | 5.6% | 8.2% | 10.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OGCP's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OGCP financial results
In fiscal year 2025 (ended December 31, 2025), Empire State Realty OP reported revenue of $768.3 million, up 0.0% from the year before. It had net income of $47.6 million (down 40.8%), a net profit margin of 6.2%. Diluted earnings per share came to $0.26. Over five years revenue grew at an average rate of 4.7% a year.
See the OGCP stock overview for the latest quote and news, or the OGCP chart for price history and technical indicators.
OGCP income statement FAQ
What is Empire State Realty OP's annual revenue?
Empire State Realty OP reported total revenue of $768.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.0% from $767.9 million the previous year.
Is Empire State Realty OP profitable?
Yes. Empire State Realty OP reported net income of $47.6 million in fiscal 2025, a net profit margin of 6.2%; its operating margin was 17.7%.
What is Empire State Realty OP's gross margin?
Empire State Realty OP's gross margin was 1.8% in fiscal 2025: for every $100 of revenue, Empire State Realty OP kept $2 after the direct cost of its products and services.
How fast is Empire State Realty OP growing?
Revenue grew 4.7% a year on average over the last five fiscal years, from $609.2 million to $768.3 million.
What are Empire State Realty OP's earnings per share?
Empire State Realty OP earned $0.26 per diluted share in fiscal 2025, compared with $0.28 a year earlier.
When does Empire State Realty OP's fiscal year end?
Empire State Realty OP's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.