UDR (UDR) | Financial Analysis & Statements
UDR Inc. Large-cap Real Estate
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
433.1M
Gross Profit
121.3M
28.00%
Operating Income
85.9M
19.84%
Net Income
238.3M
55.02%
EPS (Diluted)
$0.67
Balance Sheet Metrics
Total Assets
10.6B
Total Liabilities
6.5B
Shareholders Equity
4.1B
Debt to Equity
1.56
Cash Flow Metrics
Operating Cash Flow
447.4M
Free Cash Flow
185.6M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
UDR Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 1.7B | 1.7B | 1.6B | 1.5B | 1.3B |
| Cost of Goods Sold | 1.2B | 1.3B | 1.2B | 1.2B | 1.1B |
| Gross Profit | 464.1M | 417.0M | 392.5M | 331.0M | 228.0M |
| Gross Margin % | 27.1% | 24.9% | 24.1% | 21.8% | 17.7% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 85.1M | 84.3M | 69.9M | 64.1M | 57.5M |
| Other Operating Expenses | - | 30.4M | 20.2M | 17.5M | 21.6M |
| Total Operating Expenses | 85.1M | 114.7M | 90.2M | 81.6M | 79.2M |
| Operating Income | 322.4M | 282.9M | 287.0M | 235.1M | 135.7M |
| Operating Margin % | 18.8% | 16.9% | 17.6% | 15.5% | 10.5% |
| Non-Operating Items | |||||
| Interest Income | 19.2M | - | 17.8M | - | 15.1M |
| Interest Expense | 196.6M | 208.0M | 180.9M | 162.8M | 186.3M |
| Other Non-Operating Income | 259.6M | 21.9M | 352.7M | 20.7M | 198.0M |
| Pre-tax Income | 404.6M | 96.8M | 476.6M | 92.9M | 162.4M |
| Income Tax | 835.0K | 879.0K | 2.1M | 349.0K | 1.4M |
| Effective Tax Rate % | 0.2% | 0.9% | 0.4% | 0.4% | 0.9% |
| Net Income | 403.7M | 95.9M | 474.5M | 92.6M | 161.0M |
| Net Margin % | 23.6% | 5.7% | 29.2% | 6.1% | 12.5% |
| Key Metrics | |||||
| EBITDA | 1.0B | 998.6M | 1.0B | 919.6M | 836.2M |
| EPS (Basic) | $1.13 | $0.26 | $1.34 | $0.26 | $0.49 |
| EPS (Diluted) | $1.13 | $0.26 | $1.34 | $0.26 | $0.48 |
| Basic Shares Outstanding | 330322000 | 329290000 | 328765000 | 321671000 | 300326000 |
| Diluted Shares Outstanding | 330322000 | 329290000 | 328765000 | 321671000 | 300326000 |
Income Statement Trend
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UDR Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 1.2M | 1.3M | 2.9M | 1.2M | 967.0K |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | 186.9M | 283.3M | 263.7M | 84.9M | 55.3M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 187.6M | 187.0M | 190.6M | 194.1M | 197.5M |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 231.3M | 197.5M | 210.0M | 197.5M | 216.3M |
| Total Non-Current Assets | 10.4B | 10.6B | 11.1B | 11.0B | 10.7B |
| Total Assets | 10.6B | 10.9B | 11.4B | 11.0B | 10.8B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 142.1M | 115.1M | 141.3M | 153.2M | 137.0M |
| Short-term Debt | 471.4M | 299.3M | 412.7M | 328.0M | 249.5M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 924.0M | 726.7M | 848.9M | 751.8M | 645.7M |
| Non-Current Liabilities | |||||
| Long-term Debt | 5.5B | 5.7B | 5.6B | 5.3B | 5.4B |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | 52.0M | 55.4M |
| Total Non-Current Liabilities | 5.5B | 5.7B | 5.6B | 5.3B | 5.4B |
| Total Liabilities | 6.5B | 6.4B | 6.4B | 6.1B | 6.0B |
| Equity | |||||
| Common Stock | 3.3M | 3.3M | 3.3M | 3.3M | 3.2M |
| Retained Earnings | -4.2B | -4.2B | -3.6B | -3.5B | -3.5B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 4.1B | 4.5B | 5.0B | 4.9B | 4.8B |
| Key Metrics | |||||
| Total Debt | 6.0B | 6.0B | 6.0B | 5.7B | 5.6B |
| Working Capital | -737.0M | -443.4M | -585.2M | -666.9M | -590.5M |
Balance Sheet Composition
UDR Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 403.7M | 95.9M | 474.5M | 92.6M | 161.0M |
| Depreciation & Amortization | 680.0M | 695.5M | 691.8M | 679.6M | 619.8M |
| Stock-Based Compensation | 26.5M | 32.6M | 32.9M | 27.5M | 22.1M |
| Working Capital Changes | -22.3M | -35.9M | -36.4M | -3.3M | -22.0M |
| Operating Cash Flow | 1.1B | 815.2M | 1.2B | 828.1M | 800.1M |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | -83.0M | -49.3M | -72.4M | -201.4M | -112.3M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | 0 | 4.6M | 14.5M | 0 | 0 |
| Investing Cash Flow | -195.0M | -76.9M | -143.2M | -276.6M | -631.0K |
| Financing Activities | |||||
| Share Repurchases | -117.8M | 0 | -25.6M | -49.0M | 0 |
| Dividends Paid | -572.7M | -563.3M | -544.6M | -488.0M | -438.0M |
| Debt Issuance | 17.0M | 301.7M | 0 | 0 | 513.1M |
| Debt Repayment | -178.3M | -153.6M | -24.7M | -2.7M | -301.1M |
| Financing Cash Flow | -750.4M | -599.9M | -538.9M | 111.2M | 612.5M |
| Free Cash Flow | 613.9M | 605.2M | 520.3M | 584.1M | 497.4M |
| Net Change in Cash | 175.1M | 138.4M | 490.5M | 662.8M | 1.4B |
Cash Flow Trend
UDR Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
31.51
Forward P/E
63.60
Price to Book
3.54
Price to Sales
7.53
PEG Ratio
-0.01
Profitability Ratios
Profit Margin
21.60%
Operating Margin
22.20%
Return on Equity
9.38%
Return on Assets
2.09%
Financial Health
Current Ratio
0.16
Debt to Equity
144.73
Beta
0.72
Per Share Data
EPS (TTM)
$1.11
Book Value per Share
$9.89
Revenue per Share
$5.30
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| UDR | 13.2B | 31.51 | 3.54 | 9.38% | 21.60% | 144.73 |
| Equity Residential | 24.4B | 21.04 | 2.12 | 10.02% | 36.20% | 74.32 |
| AvalonBay | 24.0B | 23.29 | 2.08 | 8.89% | 34.57% | 80.26 |
| 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 |
Financial data is updated regularly. All figures are in the company's reporting currency.






