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AvalonBay vs Equity ResidentialAvalonBay vs Essex PropertyAvalonBay vs Invitation HomesAvalonBay vs Sun CommunitiesAvalonBay vs Mid-AmericaAvalonBay vs S&P 500 | Market

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Dec 2025

Income Metrics

Revenue 767.9M
Gross Profit 486.0M 63.29%
Operating Income 230.7M 30.05%
Net Income 166.0M 21.62%
EPS (Diluted) $1.17

Balance Sheet Metrics

Total Assets 22.2B
Total Liabilities 10.4B
Shareholders Equity 11.8B
Debt to Equity 0.88

Cash Flow Metrics

Operating Cash Flow 411.6M
Free Cash Flow 321.8M

Revenue & Profitability Trend

Quarter Income Flow i

Annual Income Flow i

AvalonBay Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue i 3.0B 2.9B 2.8B 2.6B 2.3B
Cost of Goods Sold i 1.1B 1.1B 988.1M 919.1M 853.9M
Gross Profit i 1.9B 1.8B 1.8B 1.7B 1.4B
Gross Margin % i 63.1% 63.2% 64.3% 64.6% 62.8%
Operating Expenses
Research & Development i - - - 16.6M 3.2M
Selling, General & Administrative i 86.7M 77.7M 76.5M 74.1M 69.6M
Other Operating Expenses i - - - - -
Total Operating Expenses i 86.7M 77.7M 76.5M 90.6M 72.8M
Operating Income i 919.8M 915.8M 886.3M 785.3M 612.7M
Operating Margin % i 30.2% 31.4% 32.0% 30.3% 26.7%
Non-Operating Items
Interest Income i 27.5M - - - -
Interest Expense i 259.2M 226.6M 206.0M 230.1M 220.4M
Other Non-Operating Income 367.4M 393.5M 258.3M 595.9M 617.8M
Pre-tax Income i 1.1B 1.1B 938.6M 1.2B 1.0B
Income Tax i -1.1M 445.0K 10.2M 14.6M 5.7M
Effective Tax Rate % i -0.1% 0.0% 1.1% 1.3% 0.6%
Net Income i 1.1B 1.1B 928.4M 1.1B 1.0B
Net Margin % i 34.7% 37.1% 33.5% 43.8% 43.8%
Key Metrics
EBITDA i 1.9B 1.8B 1.7B 1.7B 1.4B
EPS (Basic) i - $7.61 $6.56 $8.13 $7.19
EPS (Diluted) i - $7.60 $6.56 $8.12 $7.19
Basic Shares Outstanding i - 142272967 141307186 139891551 139681493
Diluted Shares Outstanding i - 142272967 141307186 139891551 139681493

Income Statement Trend

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AvalonBay Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets
Cash & Equivalents i 187.2M 108.6M 397.9M 613.2M 420.3M
Short-term Investments i - - - - -
Accounts Receivable i - - - - -
Inventory i - - - - -
Other Current Assets - - - 247.5M 211.5M
Total Current Assets i 353.1M 267.1M 531.0M 734.2M 577.5M
Non-Current Assets
Property, Plant & Equipment i 147.5M 154.7M 134.7M 143.3M 146.6M
Goodwill i - - - - -
Intangible Assets i - - - - -
Long-term Investments - - - - -
Other Non-Current Assets 691.8M 584.6M 419.6M 375.3M 251.9M
Total Non-Current Assets i 21.8B 20.7B 20.1B 19.7B 19.3B
Total Assets i 22.2B 21.0B 20.7B 20.5B 19.9B
Liabilities
Current Liabilities
Accounts Payable i 92.3M 86.0M 87.7M 72.8M 63.7M
Short-term Debt i 739.6M - - - -
Current Portion of Long-term Debt - - - - -
Other Current Liabilities - - - - 304.0K
Total Current Liabilities i 1.5B 746.3M 694.6M 659.1M 635.7M
Non-Current Liabilities
Long-term Debt i 8.8B 8.3B 8.1B 8.5B 8.3B
Deferred Tax Liabilities i - - - - -
Other Non-Current Liabilities 60.7M 62.8M 63.8M 63.7M 59.8M
Total Non-Current Liabilities i 8.8B 8.3B 8.2B 8.5B 8.3B
Total Liabilities i 10.4B 9.1B 8.9B 9.2B 9.0B
Equity
Common Stock i 1.4M 1.4M 1.4M 1.4M 1.4M
Retained Earnings i 371.2M 591.2M 478.2M 485.2M 240.8M
Treasury Stock i - - - - -
Other Equity - - - - -
Total Shareholders Equity i 11.8B 11.9B 11.8B 11.3B 10.9B
Key Metrics
Total Debt i 9.5B 8.3B 8.1B 8.5B 8.3B
Working Capital i -1.2B -479.2M -163.6M 75.1M -58.2M

Balance Sheet Composition

AvalonBay Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income i 1.1B 1.1B 928.4M 1.1B 1.0B
Depreciation & Amortization i 913.4M 846.9M 817.0M 815.0M 758.6M
Stock-Based Compensation i 26.5M 25.4M 27.1M 33.9M 25.5M
Working Capital Changes i -26.1M 0 0 0 0
Operating Cash Flow i 2.0B 2.0B 1.8B 2.0B 1.8B
Investing Activities
Capital Expenditures i - - - - -
Acquisitions i -40.0M -14.2M -18.9M -14.3M -53.5M
Investment Purchases i - - - - -
Investment Sales i - - - - -
Investing Cash Flow i -42.7M -105.8M -86.5M -30.5M -82.2M
Financing Activities
Share Repurchases i -488.1M 0 -1.9M 0 0
Dividends Paid i -992.3M -961.9M -922.7M -889.6M -888.3M
Debt Issuance i 1.3B 398.8M 399.8M 348.6M 1.1B
Debt Repayment i -836.5M -309.8M -797.0M -143.3M -571.7M
Financing Cash Flow i -192.7M -874.9M -834.4M -671.1M -348.9M
Free Cash Flow i 1.4B 1.4B 1.4B 1.2B 1.0B
Net Change in Cash i 1.8B 1.0B 902.5M 1.3B 1.4B

Cash Flow Trend

AvalonBay Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 23.29
Forward P/E 34.86
Price to Book 2.08
Price to Sales 7.89
PEG Ratio -0.57

Profitability Ratios

Profit Margin 34.57%
Operating Margin 30.64%
Return on Equity 8.89%
Return on Assets 2.70%

Financial Health

Current Ratio 0.41
Debt to Equity 80.26
Beta 0.76

Per Share Data

EPS (TTM) $7.40
Book Value per Share $82.99
Revenue per Share $21.46

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
AVB 24.0B 23.29 2.08 8.89% 34.57% 80.26
Equity Residential 24.4B 21.04 2.12 10.02% 36.20% 74.32
Essex Property 17.6B 24.34 2.94 12.24% 34.60% 119.43
Invitation Homes 16.6B 27.65 1.70 6.09% 21.63% 88.12
Sun Communities 16.6B 140.48 2.30 0.01% 59.22% 60.91
Mid-America 15.1B 33.26 2.60 7.65% 20.23% 93.31
Nippun Rana

Nippun Rana

Chasing the market trend!

Hi, I’m Nippun, a tech enthusiast from Haryana, India. I have been coding since 2010 and using my coding skills in the share market since 2020. I have been coding scripts in Pinescript that work on Tradingview app/web. I love learning about new technology and applying it to solve real-world problems. Coding and share-market are my passions, and I enjoy finding and fixing bugs in code. I aim to share my skill set and experience that can positively impact society. Feel free to connect with me, an...

Financial data is updated regularly. All figures are in the company's reporting currency.