AvalonBay Communities

Real Estate Multi-Family Residential REITs Arlington, Virginia Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$3.0B
                    3y CAGR +5.4%
                    
                    P34
                    
                    +4.4%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +34.7%
                    
                    P76
                    
                    -2.4%
                    
                    Total assets
                    FY2025
                
$22.2B
                    ROA +4.8%
                    
                    P77
                    
                    +5.7%
                    
                    Operating cash flow
                    FY2025
                
$1.7B
                    FCF margin -15.9%
                    
                    P14
                    
                    +3.9%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

15 accounts · 10 years

Total assets $22.2B

Total liabilities $10.4B

Shareholders equity $11.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	-1.5%	-8.2%	+9.2%	+19.1%	+14.3%	+0.2%	-43.1%	-34.7%	-68.8%	—
Real Estate	+2.3%	+2.0%	+1.9%	+1.9%	+2.0%	+1.9%	+2.9%	+1.9%	+4.3%	—
Other Noncurrent Assets	+5.8%	+5.7%	+3.8%	+2.7%	+1.3%	+0.8%	-3.6%	-1.9%	-3.6%	—
Total Assets	+2.4%	+2.0%	+2.1%	+2.3%	+2.2%	+1.8%	+2.3%	+1.4%	+3.1%	—
Liabilities
Long Term Debt	+3.2%	+1.7%	+1.8%	+2.8%	+2.9%	+1.8%	+1.2%	+0.1%	+4.2%	—
Other Noncurrent Liabilities	+5.1%	+5.2%	+4.8%	+5.1%	+5.6%	+7.6%	+8.1%	+3.5%	+5.2%	—
Total Liabilities	+3.4%	+2.1%	+2.1%	+3.0%	+3.1%	+2.4%	+1.9%	+0.4%	+4.3%	—
Equity
Total Stockholders Equity	+1.5%	+2.0%	+2.1%	+1.7%	+1.5%	+1.4%	+2.6%	+2.2%	+2.1%	—
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+0.2%	+0.4%	+0.5%	+0.3%	+0.4%	+0.4%	+0.8%	+0.4%	+0.6%	—
Additional Paid In Capital	+1.2%	+1.4%	+1.6%	+1.1%	+1.2%	+1.4%	+2.0%	+1.0%	+1.3%	—
Retained Earnings	+16.4%	+25.7%	+26.0%	+31.3%	+20.5%	+7.3%	+43.9%	+92.3%	+98.7%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	—	—	—	—	—	—	—	—	—	—
Total Liabilitiesand Equity	+2.4%	+2.0%	+2.1%	+2.3%	+2.2%	+1.8%	+2.3%	+1.4%	+3.1%	—

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $3.0B

Operating income Not reported

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+4.5%	+4.5%	+4.4%	+4.0%	+2.3%	+3.0%	+4.4%	+5.7%	+5.5%	—
Expenses Property Operating Expenses	+5.6%	+5.7%	+5.2%	+4.7%	+3.6%	+3.5%	+2.5%	+4.8%	+4.7%	—
Expenses Depreciation and Amortization	—	—	—	—	—	—	—	—	—	—
Expenses Selling,General and Administrative	+7.4%	+6.8%	+7.6%	+8.4%	+8.7%	+7.2%	+8.2%	+14.8%	+17.3%	—
Other Income Expense Interest Expense	+3.7%	+2.4%	+1.4%	+3.5%	+3.3%	+3.4%	+2.8%	+8.6%	+6.5%	—
Other Income Expense Other Income/expense	—	—	—	—	—	-34.9%	—	-41.8%	-32.6%	—
Other Income Expense Income Before Tax	+0.2%	+0.6%	-1.4%	+1.8%	-0.5%	-5.5%	-8.2%	-2.9%	-15.2%	—
Income Tax Income Tax Expense	—	+4.8%	+65.0%	+90.6%	+79.8%	—	+249.3%	—	-53.8%	—
net Income Other Items Below Tax	+22.6%	+25.9%	+22.5%	+45.7%	+58.2%	—	—	-92.5%	-58.9%	—
net Income net Income	+0.2%	+0.6%	-1.5%	+1.6%	-0.6%	-5.4%	-8.7%	-2.9%	-15.2%	—
Earnings Per Share Basic Eps	-0.2%	+0.1%	-2.0%	+1.3%	-0.9%	-6.0%	-9.2%	-3.2%	-15.5%	—
Earnings Per Share Diluted Eps	-0.2%	+0.1%	-1.9%	+1.3%	-0.9%	-5.9%	-9.2%	-3.2%	-15.6%	—

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 10 years

Operating cash flow $1.7B

Investing cash flow $-1.4B

Financing cash flow $-192.7M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	+4.3%	+4.4%	+4.5%	+3.7%	+1.0%	+1.6%	+4.9%	+6.7%	+9.9%	—
Operating Activities net Income	+0.2%	+0.6%	-1.5%	+1.6%	-0.6%	-5.4%	-8.7%	-2.9%	-15.2%	—
Operating Activities Stock Based Compensation	+6.4%	+6.7%	+8.8%	+14.4%	+11.1%	+9.4%	+19.3%	+16.0%	+18.8%	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	+2.1%	-0.4%	-7.4%	+9.0%	+8.5%	+5.3%	-13.0%	+23.8%	-12.5%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+7.1%	-12.1%	-13.7%	-17.7%	-0.4%	+4.7%	-24.7%	-27.2%	+69.6%	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+34.7%	+37.1%	+33.5%	+43.8%	+43.8%	+36.0%	+33.8%	+42.6%	+40.6%	+50.5%
FCF margin	-15.9%	-0.0%	+9.5%	-7.6%	-16.0%	+11.6%	-12.3%	-11.4%	-12.0%	-25.6%
Growth
Revenue CAGR (3y)	+5.4%	+8.3%	+6.3%	+3.7%	+0.2%	+2.2%	+4.4%	+7.2%	+8.6%	+11.8%
Returns
ROE	+9.1%	+9.1%	+7.9%	+10.1%	+9.2%	+7.7%	+7.2%	+9.2%	+8.4%	+10.2%
ROA	+4.8%	+5.2%	+4.5%	+5.6%	+5.0%	+4.3%	+4.1%	+5.3%	+4.8%	+5.8%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	0.89x	0.76x	0.75x	0.82x	0.82x	0.79x	0.74x	0.73x	0.77x	0.76x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.14x	0.14x	0.13x	0.13x	0.12x	0.12x	0.12x	0.12x	0.12x	0.11x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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AvalonBay Communities

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