Piedmont Office Realty Trust, Inc. Financial Ratios — PDM

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	5.1	2.14	2.21	0.89	2.87	2.28	3.19	3.43	6.45	6.41	-0.03	3.66	-1.19	-1.94	-2.05
Return on Capital (%)	50.62	29.52	27.37	10.57	21.52	32.45	72.45	-199.32	-93.79	-120.77	- -	203.85	- -	- -	- -
Return on Invested Capital (%)	3.37	3.23	3.27	2.25	2.53	2.5	3.23	3.22	3	2.58	- -	2.21	- -	- -	- -
Gross Margin (%)	61.43	60.4	59.83	57.72	58.61	60.27	61.26	60.2	60.35	59.83	60.1	59.9	59.31	58.95	59.67
EBITDA Margin (%)	58.89	56.96	56.11	53.48	53.48	55.21	55.9	53.61	52.3	53.06	53	53.11	52.64	51.75	53.73
Operating Margin (%)	27.2	26.02	25.63	19.04	20.01	18.84	22.25	21.99	18.98	16.59	15.3	14.9	13.37	13.02	14.06
Incremental Operating Margin (%)	-1,466.53	166.67	18.71	-198.65	49.64	42.43	125	25.09	-200.29	-675.19	124.15	8.87	-48.37	40.68	-97.69
Pretax Margin (%)	16.01	11.43	13.14	7.08	0.27	1.13	23.26	24.77	43	43.49	-0.22	26.04	-8.37	-13.86	-14.8
Profit Margin (%)	42.86	17.9	17.96	7.44	22.45	17.95	23.26	24.77	43	43.49	-0.22	26.04	-8.37	-13.86	-14.8
Net Income to Common Margin (%)	42.86	17.9	17.96	7.44	22.45	17.95	23.26	24.77	43	43.49	-0.22	26.04	-8.37	-13.86	-14.8
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	262.14	229.02	183.21	312.26	8,069.58	1,456.07	91.57	141.3	46.43	45.69	-8,798.05	71.08	-192.53	-78.25	-36.94
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1,522	1,457	2,049	2,746	2,072	2,068	1,765	1,721	1,506	1,657	1,917	2,041	2,098	2,505	2,250
ST Debt	350	350	350	434	21	178	23	205	- -	- -	- -	- -	50	250	- -
LT Debt	1,172	1,107	1,699	2,312	2,051	1,890	1,742	1,516	1,506	1,657	1,917	2,041	2,047	2,255	2,250
Total Debt/EBITDA	4.92	4.91	6.65	9.07	6.63	6.74	5.5	6.1	5.4	5.84	6.84	6.82	6.9	8.49	7.41
Net Debt/EBITDA	4.31	4.73	6.47	8.89	6.47	6.56	5.36	5.96	5.26	5.69	6.68	6.57	6.75	8	7.33
Total Debt/EBIT	10.65	10.76	14.55	25.47	17.71	19.75	13.82	14.88	14.88	18.67	23.69	24.29	27.15	33.74	28.32
Net Debt/EBIT	9.33	10.36	14.16	24.96	17.3	19.23	13.46	14.53	14.5	18.19	23.11	23.41	26.58	31.83	27.99
EBITDA to Interest Expense	4.7	4.56	4.19	4.07	4.23	4.73	4.71	4.62	4.53	5.16	5.46	4.56	3	2.4	2.37
EBITDA-CapEx/Interest Expense	1.42	2.89	4.19	4.07	4.23	4.73	4.71	4.62	4.53	5.16	5.46	4.56	3	2.4	2.37
EBIT to Interest Expense	2.17	2.08	1.91	1.45	1.58	1.61	1.88	1.9	1.64	1.61	1.58	1.28	0.76	0.6	0.62
Interest Expense	66	65	74	74	74	65	68	61	62	55	51	66	101	123	128
Common Equity/Total Assets	-19.99	-24	-26.35	-28.49	-35.52	-36.16	-42.52	-55.15	-53.18	-47.43	-48.28	-45.4	-48.95	-51.69	-55.22
Long-Term Debt/Equity (%)	42.24	41.94	69.05	100.02	96.61	90.1	87.71	88.55	82.82	87.33	107.26	110.35	118.83	142	150.3
Long-Term Debt/Capital (%)	184.83	252.85	206.91	167.09	391.37	385.34	2,626.05	-586.92	-416.25	-1,447.66	9,168.49	1,087.99	1,809.12	593.91	9,022.32
Long-Term Debt/Total Assets (%)	26.34	26.02	36.42	48.3	47.03	43.27	43.56	42.2	42.84	44.32	48.77	49.95	50.46	54.81	55.8
Total Debt/Equity (%)	54.86	55.19	83.27	118.79	97.6	98.58	88.87	100.53	82.82	87.33	107.26	110.35	121.74	157.74	150.3
Total Debt/Capital (%)	240.05	332.77	249.52	198.44	395.38	421.63	2,660.72	-666.28	-416.25	-1,447.66	9,168.49	1,087.99	1,853.44	659.75	9,022.32
Total Debt/Total Assets (%)	34.21	34.25	43.92	57.36	47.51	47.34	44.13	47.91	42.84	44.32	48.77	49.95	51.7	60.88	55.8
Net Debt to Equity	48.06	53.16	81.07	116.42	95.32	95.99	86.56	98.18	80.7	85.07	104.64	106.37	119.2	148.77	148.59
Net Debt/Capital (%)	269.71	330.27	245.02	196.22	390.22	416.45	2,916.06	-639.37	-390.95	-1,325.44	13,863.84	1,150.22	1,828.11	874.84	9,189.24
EBITDA	309	297	308	303	313	307	321	282	279	284	280	299	304	295	304
EBITDA-CapEx	94	188	308	303	313	307	321	282	279	284	280	299	304	295	304
Operating Income (Loss)	143	135	141	108	117	105	128	116	101	89	81	84	77	74	79

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.28	0.03	0.01	0.08	0.03	0.02	0.03	0.01	0.08	0.04	0.03	0.08	- -	0.4	- -
Current Ratio	0.56	0.32	0.39	5.1	1.79	2.27	3.01	1.54	1.81	2.09	1.74	1	0.82	1.15	0.79
Quick Ratio	0.54	0.32	0.35	1.2	1.27	0.46	0.61	0.43	0.86	1.62	1.32	0.99	0.67	1.14	0.78
CFO/Avg Current Liab	0.87	0.44	0.43	0.66	1.34	0.85	0.76	0.65	0.78	1.09	1.22	1.03	0.87	0.71	0.51
Common Equity/Total Assets	-19.99	-24	-26.35	-28.49	-35.52	-36.16	-42.52	-55.15	-53.18	-47.43	-48.28	-45.4	-48.95	-51.69	-55.22
Long-Term Debt/Equity (%)	42.24	41.94	69.05	100.02	96.61	90.1	87.71	88.55	82.82	87.33	107.26	110.35	118.83	142	150.3
Long-Term Debt/Capital (%)	184.83	252.85	206.91	167.09	391.37	385.34	2,626.05	-586.92	-416.25	-1,447.66	9,168.49	1,087.99	1,809.12	593.91	9,022.32
Long-Term Debt/Total Assets (%)	26.34	26.02	36.42	48.3	47.03	43.27	43.56	42.2	42.84	44.32	48.77	49.95	50.46	54.81	55.8
Total Debt/Equity (%)	54.86	55.19	83.27	118.79	97.6	98.58	88.87	100.53	82.82	87.33	107.26	110.35	121.74	157.74	150.3
Total Debt/Capital (%)	240.05	332.77	249.52	198.44	395.38	421.63	2,660.72	-666.28	-416.25	-1,447.66	9,168.49	1,087.99	1,853.44	659.75	9,022.32
Total Debt/Total Assets (%)	34.21	34.25	43.92	57.36	47.51	47.34	44.13	47.91	42.84	44.32	48.77	49.95	51.7	60.88	55.8
CFO/Total Liabilities	15.95	13.68	9.75	8.77	9.99	10.21	12.06	10.79	12.28	10.49	11.3	9.62	9	7.84	5.55
CFO/CapEx	1.24	2.04	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.93	0.91	0.47	0.66	0.49	0.63	0.64	0.22	0.53	0.26	0.2	-0.14	-0.28	-0.25	-0.35

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	3.97	3.76	3.47	3.29	3.36	3.3	3.59	3.46	3.7	3.59	3.28	3.29	3.14	2.92	2.69
Days Sales Outstanding	92.04	97.04	105.14	110.82	108.69	110.7	101.7	105.54	98.62	101.59	111.45	110.84	116.1	124.82	135.58
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	3.29	1.65	1.72	1.82	1.84	1.5	1.59	2.01	2	1.87	1.86	2.01	1.94	1.67	1.42
Accounts Payable Turnover Days	110.82	221.5	211.68	200.32	197.91	242.9	229.94	181.85	182.37	194.86	195.93	181.45	187.73	218.7	257.83
Cash Conversion Cycle	-18.78	-124.46	-106.54	-89.5	-89.21	-132.2	-128.24	-76.31	-83.75	-93.28	-84.48	-70.61	-71.62	-93.88	-122.24
Inventory to Cash Days	92.04	97.04	105.14	110.82	108.69	110.7	101.7	105.54	98.62	101.59	111.45	110.84	116.1	124.82	135.58
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	2,944	3,024	2,601	2,907	2,747	3,037	2,792	2,151	2,797	2,010	2,262	1,132	880	1,134	1,038
- Cash & Cash Equivalents	140	13	7	12	5	7	7	5	14	7	7	17	1	110	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	2	2	2	2	1	2	2	2	2	2	2	2	2	2	2
+ Total Debt	1,522	1,457	2,049	2,746	2,072	2,068	1,765	1,721	1,506	1,657	1,917	2,041	2,098	2,505	2,250
Enterprise Value	4,327	4,470	4,645	5,643	4,815	5,100	4,551	3,869	4,292	3,662	4,173	3,158	2,978	3,531	3,288
Total Capital	634	438	821	1,384	524	490	66	-258	-362	-114	21	188	113	380	25
Total Debt/Capital (%)	240.05	332.77	249.52	198.44	395.38	421.63	2,660.72	-666.28	-416.25	-1,447.66	9,168.49	1,087.99	1,853.44	659.75	9,022.32
Total Debt / EV	0.35	0.33	0.44	0.49	0.43	0.41	0.39	0.44	0.35	0.45	0.46	0.65	0.7	0.71	0.68
EV/Sales	8.24	8.59	8.45	9.97	8.23	9.18	7.93	7.36	8.05	6.84	7.89	5.6	5.15	6.19	5.82
EV/EBITDA	13.99	15.07	15.06	18.64	15.4	16.62	14.18	13.72	15.39	12.9	14.9	10.55	9.79	11.96	10.83
EV/EBIT	30.3	33	32.97	52.34	41.15	48.72	35.63	33.45	42.4	41.25	51.58	37.58	38.54	47.56	41.39
EV/Cash Flow to Firm	13	15.63	16.09	19.35	16.18	17.19	14.64	14.66	15.89	14.75	14.22	11.24	9.56	11	12.24
EV/Free Cash Flow to Firm	7.89	11.33	16.09	19.35	16.18	17.19	14.64	14.66	15.89	14.75	14.22	11.24	9.56	11	12.24
Diluted Market Cap	2,948	3,076	2,728	2,912	2,849	3,045	2,851	2,226	2,806	2,047	2,279	1,133	880	1,134	1,038
Diluted Enterprise Value	4,331	4,522	4,772	5,648	4,917	5,108	4,611	3,944	4,301	3,698	4,190	3,158	2,978	3,531	3,288
EV per Share	25.05	26.68	29.5	36.57	33.09	35.11	31.97	30.65	34.12	29.57	33.91	25.58	24.07	28.49	26.42
TTM Sales	525	521	550	566	585	556	574	526	533	535	529	564	578	570	565
TTM EBITDA	309	297	308	303	313	307	321	282	279	284	280	299	304	295	304
TTM Operating Income	143	135	141	108	117	105	128	116	101	89	81	84	77	74	79
TTM Cash Flow to Firm	333	286	289	292	298	297	311	264	270	248	293	281	311	321	269
TTM Free Cash Flow to Firm	549	394	289	292	298	297	311	264	270	248	293	281	311	321	269

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	6.11	9.34	12.68	13.41	12.73	13.13	11.74	10.97	13.46	10.59	9.41	5.26	4.19	5.72	7.38
EV/EBIT	30.3	33	32.97	52.34	41.15	48.72	35.63	33.45	42.4	41.25	51.58	37.58	38.54	47.56	41.39
Enterprise Value	4,327	4,470	4,645	5,643	4,815	5,100	4,551	3,869	4,292	3,662	4,173	3,158	2,978	3,531	3,288
Low Price	14.91	16.1	14.62	15.83	16.54	16.93	19.1	16.43	16.69	11.26	15.1	8.72	4.91	5.93	5.46
EV/Sales	8.24	8.59	8.45	9.97	8.23	9.18	7.93	7.36	8.05	6.84	7.89	5.6	5.15	6.19	5.82
EV/EBITDA	13.99	15.07	15.06	18.64	15.4	16.62	14.18	13.72	15.39	12.9	14.9	10.55	9.79	11.96	10.83
Price/Earnings	13.08	32.45	26.35	68.98	20.92	30.45	20.9	16.51	12.2	8.64	- -	7.71	- -	- -	- -
Price/Earnings Average	14.42	31.32	29.46	66.97	20.39	29.36	22.27	18.14	11.26	9.09	-1,922.48	11.55	-18.35	-12.68	-11.62
Price/Earnings High	16.37	34	33.64	73.41	22.33	32.45	24.6	19.93	12.39	13.19	-2,172.26	16.68	-29.07	-17.43	-13.76
Price/Earnings Low	11.45	28.94	23.32	57.96	18.33	24.65	20.36	15.92	9.16	5.99	-1,611.85	7.33	-12.55	-9.3	-8.13
Price/Book Value	-3.31	-2.96	-2.12	-2.13	-1.77	-1.92	-1.64	-1.09	-1.5	-1.13	-1.19	-0.61	-0.44	-0.53	-0.47
Price/Book Value Average	-3.65	-2.86	-2.37	-2.07	-1.73	-1.85	-1.75	-1.19	-1.38	-1.19	-1.17	-0.91	-0.45	-0.47	-0.44
Price/Book Value High	-4.14	-3.1	-2.7	-2.27	-1.89	-2.05	-1.93	-1.31	-1.52	-1.73	-1.32	-1.32	-0.71	-0.65	-0.52
Price/Book Value Low	-2.9	-2.64	-1.87	-1.79	-1.55	-1.56	-1.6	-1.05	-1.12	-0.79	-0.98	-0.58	-0.31	-0.35	-0.31
Price/Tangible Book Value	1.14	1.23	1.14	1.36	1.36	1.52	1.48	1.33	1.63	1.12	1.34	0.64	0.53	0.74	0.72
Price/Tangible Book Value Average	1.25	1.19	1.28	1.32	1.33	1.47	1.58	1.47	1.5	1.18	1.31	0.96	0.53	0.65	0.67
Price/Tangible Book Value High	1.42	1.29	1.46	1.45	1.45	1.62	1.74	1.61	1.65	1.71	1.48	1.39	0.84	0.9	0.8
Price/Tangible Book Value Low	0.99	1.1	1.01	1.15	1.19	1.23	1.44	1.29	1.22	0.78	1.1	0.61	0.36	0.48	0.47
Price/Sales	5.61	5.81	4.73	5.13	4.7	5.46	4.86	4.09	5.25	3.76	4.28	2.01	1.52	1.99	1.84
Price/Sales Average	6.18	5.61	5.29	4.98	4.58	5.27	5.18	4.49	4.84	3.95	4.19	3.01	1.54	1.76	1.72
Price/Sales High	7.01	6.09	6.04	5.46	5.01	5.82	5.72	4.94	5.33	5.74	4.74	4.34	2.43	2.42	2.04
Price/Sales Low	4.91	5.18	4.19	4.31	4.12	4.42	4.74	3.94	3.94	2.61	3.52	1.91	1.05	1.29	1.2
Price/Cash Flow	11.02	13.69	12.09	13.39	12.28	13.1	11.5	10.6	13.42	10.4	9.34	5.26	4.19	5.72	7.38
Price/Cash Flow Average	12.15	13.21	13.52	13	11.97	12.63	12.25	11.65	12.38	10.94	9.15	7.88	4.23	5.06	6.91
Price/Cash Flow High	13.79	14.34	15.44	14.25	13.11	13.96	13.53	12.8	13.62	15.88	10.34	11.38	6.69	6.96	8.19
Price/Cash Flow Low	9.64	12.21	10.7	11.25	10.76	10.61	11.2	10.22	10.07	7.21	7.67	5	2.89	3.71	4.83
Price/Free Cash Flow Average	6.73	9.01	14.18	13.02	12.41	12.67	12.51	12.06	12.42	11.14	9.22	7.88	4.23	5.06	6.91
Price/Free Cash Flow High	7.64	9.78	16.19	14.27	13.59	14	13.82	13.25	13.67	16.17	10.42	11.39	6.69	6.96	8.19
Price/Free Cash Flow Low	5.34	8.33	11.23	11.27	11.16	10.63	11.44	10.58	10.1	7.35	7.73	5	2.89	3.71	4.83
EV/Sales Average	8.82	8.38	9.01	9.82	8.12	8.98	8.25	7.76	7.64	7.04	7.81	6.6	5.17	5.96	5.7
EV/Sales High	9.65	8.86	9.76	10.3	8.55	9.54	8.79	8.2	8.13	8.82	8.35	7.94	6.07	6.62	6.02
EV/Sales Low	7.54	7.96	7.91	9.15	7.65	8.14	7.8	7.21	6.74	5.69	7.13	5.5	4.68	5.49	5.19
EV/EBITDA Average	14.97	14.72	16.06	18.36	15.18	16.27	14.75	14.48	14.61	13.27	14.73	12.43	9.82	11.52	10.61
EV/EBITDA High	16.39	15.56	17.4	19.25	15.99	17.27	15.72	15.3	15.55	16.63	15.76	14.94	11.53	12.79	11.2
EV/EBITDA Low	12.8	13.97	14.09	17.1	14.31	14.74	13.95	13.45	12.89	10.73	13.45	10.36	8.9	10.61	9.65
EV/EBIT Average	32.42	32.22	35.15	51.55	40.56	47.68	37.06	35.29	40.26	42.44	51.01	44.29	38.65	45.8	40.56
EV/EBIT High	35.48	34.06	38.08	54.07	42.73	50.62	39.49	37.3	42.83	53.18	54.57	53.25	45.36	50.85	42.81
EV/EBIT Low	27.72	30.59	30.85	48.03	38.24	43.19	35.06	32.79	35.51	34.32	46.59	36.92	35.02	42.19	36.88
Last Price	17.04	18.05	16.52	18.84	18.88	20.91	19.61	17.04	22.24	16.23	18.38	9.17	7.11	9.15	8.34
High Price	21.32	18.91	21.09	20.05	20.15	22.28	23.08	20.57	22.58	24.78	20.35	19.84	11.37	11.12	9.25
Enterprise Value Average	4,630	4,365	4,952	5,559	4,746	4,991	4,735	4,082	4,075	3,767	4,128	3,721	2,986	3,400	3,222
Enterprise Value High	5,067	4,614	5,365	5,830	5,000	5,299	5,045	4,315	4,335	4,721	4,416	4,475	3,505	3,775	3,401
Enterprise Value Low	3,959	4,144	4,346	5,179	4,475	4,522	4,479	3,792	3,594	3,046	3,770	3,102	2,706	3,132	2,930

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	173	168	157	154	146	145	142	126	126	124	123	123	124	124	125
Diluted Weighted Avg Shares	173	170	165	155	151	146	145	131	126	126	124	124	124	124	124
Basic Weighted Avg Shares	173	168	157	154	146	145	142	126	126	124	123	123	124	124	124
Revenue per Share	3.04	3.11	3.49	3.67	4.02	3.83	4.03	4.17	4.24	4.32	4.3	4.57	4.67	4.6	4.54
EBITDA per Share	1.79	1.77	1.96	1.96	2.15	2.11	2.25	2.23	2.22	2.29	2.28	2.43	2.46	2.38	2.44
Operating Income per Share	0.83	0.81	0.89	0.7	0.8	0.72	0.9	0.92	0.8	0.72	0.66	0.68	0.62	0.6	0.64
Basic EPS, GAAP	1.3	0.56	0.63	0.27	0.9	0.69	0.94	1.03	1.82	1.88	-0.01	1.19	-0.39	-0.64	-0.67
Basic EPS from Cont Ops	0.49	0.36	0.46	0.26	0.01	0.04	0.94	1.03	1.82	1.88	-0.01	1.19	-0.39	-0.64	-0.67
Diluted EPS, GAAP	1.3	0.55	0.6	0.27	0.87	0.68	0.92	1	1.82	1.85	-0.01	1.19	-0.39	-0.64	-0.67
Diluted EPS from Cont Ops	0.49	0.35	0.44	0.26	0.01	0.04	0.92	1	1.82	1.85	-0.01	1.19	-0.39	-0.64	-0.67
Dividend per Share	1.28	0.81	0.84	0.81	0.87	0.63	0.86	1.46	0.85	0.86	0.84	0.85	0.75	0.5	0.25
Cash Flow per Share	1.55	1.32	1.37	1.41	1.54	1.6	1.71	1.61	1.66	1.56	1.97	1.74	1.7	1.6	1.13
Free Cash Flow per Basic Share	0.3	0.67	1.37	1.41	1.54	1.6	1.71	1.61	1.66	1.56	1.97	1.74	1.7	1.6	1.13
Cash & Equivalents per Share	0.81	0.08	0.04	0.08	0.04	0.05	0.05	0.04	0.11	0.06	0.06	0.13	0.01	0.88	0.01
Book Value per Share	-5.15	-6.09	-7.81	-8.84	-10.65	-10.87	-11.95	-15.7	-14.87	-14.32	-15.42	-15.02	-16.05	-17.16	-17.89
Tangible Book Value per Share	15.01	14.68	14.49	13.81	13.87	13.76	13.26	12.78	13.67	14.53	13.72	14.31	13.49	12.38	11.6

Piedmont Office Realty Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)