Essex Property Trust

Real Estate Multi-Family Residential REITs San Mateo, California Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$1.9B
                    3y CAGR +5.5%
                    
                    P37
                    
                    +6.4%
                    
                    Net income
                    FY2025
                
$702.8M
                    Net margin +37.2%
                    
                    P83
                    
                    -13.4%
                    
                    Total assets
                    FY2025
                
$13.2B
                    ROA +5.3%
                    
                    P81
                    
                    +1.8%
                    
                    Operating cash flow
                    FY2025
                
$1.1B
                    
                    +0.6%

18 yrs · FY2008–FY2025 1 quarantined 9 filed · 0 derived · 0 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

19 accounts · 5 years

Total assets $13.2B

Total liabilities $7.4B

Shareholders equity $5.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+12.0%	+11.3%	+184.4%	-31.2%	—
Short Term Investments	-84.9%	-92.0%	-32.3%	-41.2%	—
Prepaid Expenses	+8.7%	+14.2%	+10.4%	+24.3%	—
Operating Lease Assets	-7.3%	-9.2%	-3.9%	-2.5%	—
Total Assets	+0.3%	-0.2%	-2.5%	-4.8%	—
Liabilities
Operating Lease Liabilities	-7.6%	-9.4%	-4.0%	-2.8%	—
Other Current Liabilities	+6.7%	+7.9%	+7.5%	+8.7%	—
Total Current Liabilities	+2.3%	+1.9%	-0.4%	-5.0%	—
Long Term Debt	—	—	—	—	—
Operating Lease Liabilities Noncurrent	-7.6%	-9.4%	-4.0%	-2.8%	—
Other Noncurrent Liabilities	+6.7%	+7.9%	+7.5%	+8.7%	—
Total Liabilities	+2.3%	+1.9%	-0.4%	-5.0%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	-3.8%	-5.0%	-7.4%	-14.3%	—
Additional Paid In Capital	-0.9%	-1.2%	-1.9%	-2.4%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Noncontrolling Interest	-2.2%	+0.1%	-3.2%	-2.3%	—
Total Stockholders Equity	-1.9%	-2.6%	-4.9%	-4.6%	—
Total Liabilitiesand Equity	+0.3%	-0.2%	-2.5%	-4.8%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $1.9B

Operating income $899.3M

Net income $702.8M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+7.0%	+7.2%	+7.7%	+11.5%	—
Expenses Cost of Revenue	+5.1%	+5.8%	+4.2%	+5.0%	—
Expenses Selling,General and Administrative	+8.5%	+24.0%	+10.7%	+9.1%	—
Expenses Depreciation and Amortization	+4.0%	+3.7%	+2.7%	+3.7%	—
Expenses Share Based Compensation	+7.2%	-0.7%	+4.8%	-1.4%	—
Expenses Operating Expenses	+5.1%	+5.8%	+4.2%	+5.0%	—
Other Income Expense Gross Profit	—	—	—	—	—
Other Income Expense Operating Income	+14.1%	+9.9%	+5.0%	+12.3%	—
net Income net Income	+8.0%	+16.3%	-8.6%	-16.0%	—
net Income Comprehensive Income	+6.9%	+13.8%	-11.2%	-7.5%	—
Earnings Per Share Basic Eps	+8.5%	+15.4%	-8.3%	-16.5%	—
Earnings Per Share Diluted Eps	+8.5%	+15.4%	-8.3%	-16.5%	—
Earnings Per Share Weighted Average Shares Basic	-0.3%	-0.4%	-0.6%	+0.0%	—
Earnings Per Share Weighted Average Shares Diluted	-0.3%	-0.4%	-0.6%	+0.0%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $1.1B

Investing cash flow $-552.5M

Financing cash flow $-512.2M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+8.0%	+16.3%	-8.6%	-16.0%	—
Operating Activities Depreciation and Amortization	+4.0%	+3.7%	+2.7%	+3.7%	—
Operating Activities Stock Based Compensation	+7.2%	-0.7%	+4.8%	-1.4%	—
Operating Activities Deferred Income Taxes	—	—	-78.9%	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—
Operating Activities Other Non Cash Items	—	—	-33.3%	+56.7%	—
Operating Activities net Cash From Operating Activities	+4.4%	+5.7%	+4.0%	+7.8%	—
Investing Activities Purchases of Investments	+1.7%	-65.2%	-6.6%	-23.9%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+11.4%	-9.4%	-10.4%	—	—
Financing Activities Repayment of Debt	-6.4%	-27.4%	-46.4%	-93.9%	—
Financing Activities Repurchase of Common Stock	—	—	+222.9%	+1968.5%	—
Financing Activities Dividends Paid	+5.1%	+5.1%	+4.5%	+4.2%	—
Financing Activities Proceeds From Stock Issuance	-37.5%	-40.5%	—	-66.6%	—
Financing Activities Tax Withholding On Stock Based Compensation	+10.5%	-16.1%	-16.2%	-59.3%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	+9.9%	+9.0%	+161.3%	-27.2%	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+9.9%	+9.0%	+161.3%	-27.2%	—
Cash Reconciliation Cash At End of Period	+9.9%	+9.0%	+161.3%	-27.2%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+31.8%	+29.7%	+31.5%	+31.2%	+26.9%
Operating margin	+47.6%	+39.6%	+35.0%	+37.0%	+36.8%
Net margin	+37.2%	+45.7%	+25.8%	+26.9%	+35.8%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+5.5%	+7.2%	+3.7%	+3.2%	+1.0%
Returns
ROE	+12.7%	+14.7%	+7.9%	+7.6%	+8.6%
ROA	+5.3%	+6.3%	+3.5%	+3.5%	+4.0%
ROIC	+16.5%	+12.9%	+11.6%	+10.5%	+8.9%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	—	—	—	—	—
Leverage
D/E	1.34x	1.30x	1.24x	1.13x	1.13x
Interest coverage	—	—	2.74x	2.91x	2.61x
Efficiency
Asset turnover	0.14x	0.14x	0.14x	0.13x	0.11x
Cash conversion cycle	—	—	—	—	—

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Essex Property Trust

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