Equity Residential

Real Estate Multi-Family Residential REITs Chicago, Illinois Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2020
                
$2.6B
                    
                    -4.8%
                    
                    Net income
                    FY2025
                
$1.1B
                    
                    +8.1%
                    
                    Total assets
                    FY2025
                
$20.7B
                    ROA +5.4%
                    
                    P84
                    
                    -0.4%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    
                    +4.8%

20 yrs · FY2006–FY2025 1 quarantined 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 10 years

Total assets $20.7B

Total liabilities $9.3B

Shareholders equity $11.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	—	—	—	—	—	1.7%	1.7%	1.8%	2.0%	3.2%
Other Current Assets	—	—	—	—	—	11.3%	8.7%	15.7%	17.2%	16.4%
Property,Plant and Equipment	—	—	—	—	—	0.0%	0.0%	792.6%	799.9%	772.1%
Intangible Assets	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%
Long Term Investments	—	—	—	—	—	2.1%	1.9%	2.3%	—	—
Other Noncurrent Assets	—	—	—	—	—	11.3%	8.7%	15.7%	17.2%	16.4%
Total Assets	—	—	—	—	—	788.8%	783.9%	791.0%	832.3%	853.5%
Liabilities
Other Current Liabilities	—	—	—	—	—	13.4%	12.8%	13.9%	13.8%	14.4%
Total Current Liabilities	—	—	—	—	—	357.1%	376.3%	372.9%	393.7%	404.0%
Long Term Debt	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%
Other Noncurrent Liabilities	—	—	—	—	—	13.4%	12.8%	13.9%	13.8%	14.4%
Total Liabilities	—	—	—	—	—	357.1%	376.3%	372.9%	393.7%	404.0%
Equity
Preferred Stock	—	—	—	—	—	1.4%	1.4%	1.4%	1.5%	1.5%
Common Stock	—	—	—	—	—	0.1%	0.1%	0.1%	0.1%	0.2%
Additional Paid In Capital	—	—	—	—	—	355.0%	331.9%	346.5%	359.6%	361.1%
Retained Earnings	—	—	—	—	—	54.4%	51.3%	48.9%	56.8%	63.6%
Accumulated Other Comprehensive Income	—	—	—	—	—	-1.7%	-2.9%	-2.5%	-3.6%	-4.7%
Noncontrolling Interest	—	—	—	—	—	9.2%	8.5%	8.8%	9.4%	9.6%
Total Stockholders Equity	—	—	—	—	—	409.3%	381.9%	394.5%	414.4%	421.7%
Total Liabilitiesand Equity	—	—	—	—	—	788.8%	783.9%	791.0%	832.3%	853.5%

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $2.6B

Operating income $1.2B

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Expenses Cost of Revenue	—	—	—	—	—	69.4%	66.4%	66.7%	65.6%	64.7%
Expenses Selling,General and Administrative	—	—	—	—	—	1.9%	2.0%	2.1%	2.1%	2.4%
Expenses Share Based Compensation	—	—	—	—	—	0.9%	0.9%	1.1%	1.0%	1.3%
Expenses Operating Expenses	—	—	—	—	—	69.4%	66.4%	66.7%	65.6%	64.7%
Other Income Expense Interest Expense	—	—	—	—	—	14.2%	14.4%	16.0%	15.5%	19.9%
Other Income Expense Other Income/expense	—	—	—	—	—	0.7%	0.7%	0.7%	0.2%	0.4%
Other Income Expense Income Before Tax	—	—	—	—	—	36.3%	34.8%	26.7%	24.8%	17.2%
Income Tax Income Tax Expense	—	—	—	—	—	0.0%	-0.1%	0.0%	0.0%	0.1%
net Income net Income	—	—	—	—	—	35.5%	35.9%	25.5%	24.4%	176.9%
net Income Comprehensive Income	—	—	—	—	—	36.8%	35.5%	26.4%	25.4%	178.4%
Earnings Per Share Basic Eps	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	—	—	—	—	—	14.5%	13.7%	14.3%	14.8%	15.0%
Earnings Per Share Weighted Average Shares Diluted	—	—	—	—	—	15.0%	14.3%	14.9%	15.5%	15.7%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 10 years

Operating cash flow $1.6B

Investing cash flow $-321.4M

Financing cash flow $-1.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	—	—	—	—	—	35.5%	35.9%	25.5%	24.4%	176.9%
Operating Activities Depreciation and Amortization	—	—	—	—	—	31.9%	30.8%	30.5%	30.1%	29.1%
Operating Activities Stock Based Compensation	—	—	—	—	—	0.9%	0.9%	1.1%	1.0%	1.3%
Operating Activities Deferred Income Taxes	—	—	—	—	—	0.0%	-0.1%	0.0%	0.0%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—	-0.3%	0.5%	0.6%	-0.9%	-1.1%
Operating Activities Other Non Cash Items	—	—	—	—	—	0.1%	-0.0%	0.6%	-0.9%	-1.1%
Operating Activities net Cash From Operating Activities	—	—	—	—	—	49.2%	53.9%	52.6%	51.2%	50.1%
Investing Activities Proceeds From Sale of Investments	—	—	—	—	—	—	—	—	0.0%	3.0%
Investing Activities net Cash From Investing Activities	—	—	—	—	—	25.8%	-28.6%	-14.6%	-24.0%	243.4%
Financing Activities Repayment of Debt	—	—	—	—	—	0.3%	0.3%	0.3%	20.1%	61.8%
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	0.0%
Financing Activities Dividends Paid	—	—	—	—	—	34.4%	30.8%	30.3%	29.9%	196.7%
Financing Activities Proceeds From Stock Issuance	—	—	—	—	—	0.5%	2.9%	1.2%	1.3%	1.5%
Financing Activities Other Financing Activities	—	—	—	—	—	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%
Financing Activities net Cash From Financing Activities	—	—	—	—	—	-75.7%	-25.3%	-37.4%	-32.0%	-290.8%
Cash Reconciliation net Change In Cash	—	—	—	—	—	-0.7%	0.0%	0.6%	-4.8%	2.6%
Cash Reconciliation Cash At Beginning of Period	—	—	—	—	—	1.7%	1.7%	1.8%	4.1%	9.0%
Cash Reconciliation Cash At End of Period	—	—	—	—	—	1.7%	1.7%	1.8%	4.1%	9.0%

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	—	—	—	—	—	+30.6%	+33.6%	+33.3%	+34.4%	+35.3%
Operating margin	—	—	—	—	—	+51.2%	+50.2%	+43.2%	+40.6%	+35.3%
Net margin	—	—	—	—	—	+35.5%	+35.9%	+25.5%	+24.4%	+176.9%
FCF margin	—	—	—	—	—	—	+47.3%	+45.3%	+43.0%	+43.0%
Growth
Revenue CAGR (3y)	—	—	—	—	—	+1.3%	+3.6%	-2.1%	+126.5%	—
Returns
ROE	+10.1%	+9.4%	+7.5%	+7.0%	+12.2%	+8.7%	+9.4%	+6.5%	+5.9%	+42.0%
ROA	+5.4%	+5.0%	+4.2%	+3.8%	+6.3%	+4.5%	+4.6%	+3.2%	+2.9%	+20.7%
ROIC	—	—	+10.5%	+8.8%	+15.0%	+12.6%	+12.0%	+11.0%	+9.8%	+8.4%
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	0.85x	0.84x	0.76x	0.76x	0.87x	0.87x	0.99x	0.95x	0.95x	0.96x
Interest coverage	—	—	4.31x	3.94x	6.15x	3.61x	3.48x	2.70x	2.62x	1.78x
Efficiency
Asset turnover	—	—	—	—	—	0.13x	0.13x	0.13x	0.12x	0.12x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Equity Residential

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