UDR, Inc.

Real Estate Multi-Family Residential REITs Highlands Ranch, Colorado Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$1.7B
                    3y CAGR +4.2%
                    
                    P24
                    
                    +2.6%
                    
                    Net income
                    FY2025
                
$377.7M
                    Net margin +21.9%
                    
                    P55
                    
                    +321.6%
                    
                    Total assets
                    FY2025
                
$10.6B
                    ROA +3.6%
                    
                    P55
                    
                    -2.7%
                    
                    Operating cash flow
                    FY2025
                
$902.9M
                    FCF margin +26.6%
                    
                    P83
                    
                    +3.0%

18 yrs · FY2008–FY2025 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 total assets.

Balance Sheet

Assets, liabilities, and equity

15 accounts · 10 years

Total assets $10.6B

Total liabilities $6.5B

Shareholders equity $3.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	2.4%	0.0%	0.0%
Real Estate	85.9%	85.5%	85.8%	88.8%	89.1%	87.8%	87.9%	84.8%	88.5%	87.1%
Other Noncurrent Assets	14.1%	14.5%	14.2%	11.1%	10.9%	12.1%	12.0%	12.8%	11.4%	12.8%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Long Term Debt	54.9%	53.5%	51.0%	49.7%	50.2%	51.6%	48.9%	46.0%	47.5%	44.3%
Other Noncurrent Liabilities	6.0%	5.6%	5.5%	5.6%	5.5%	5.7%	5.4%	3.5%	3.6%	3.5%
Total Liabilities	60.9%	59.1%	56.5%	55.3%	55.7%	57.3%	54.3%	49.5%	51.1%	47.8%
Equity
Total Stockholders Equity	31.0%	31.6%	35.1%	37.1%	32.0%	33.6%	34.9%	37.7%	36.5%	40.3%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	70.5%	69.5%	65.9%	67.9%	63.9%	61.0%	60.0%	63.8%	60.1%	60.4%
Accumulated Other Comprehensive Income	0.0%	0.0%	0.0%	0.1%	-0.0%	-0.1%	-0.1%	-0.0%	-0.0%	-0.1%
Other Equity	-40.0%	-38.4%	-31.3%	-31.3%	-32.3%	-27.9%	-25.6%	-26.8%	-24.2%	-20.6%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.3%	0.3%	0.3%	0.2%	0.1%	0.1%
Temporary Equity and Other	8.1%	9.3%	8.5%	7.6%	12.1%	8.9%	10.6%	12.6%	12.3%	11.8%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $1.7B

Operating income $553.6M

Net income $377.7M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	16.3%	15.4%	14.4%	13.8%	12.0%	12.9%	12.0%	13.7%	13.0%	12.6%
Expenses Property Operating Expenses	2.9%	2.7%	2.4%	2.3%	2.0%	2.1%	1.9%	2.2%	2.1%	2.1%
Expenses Depreciation and Amortization	6.2%	6.2%	5.9%	6.0%	5.6%	6.3%	—	—	5.6%	5.5%
Expenses Selling,General and Administrative	0.8%	0.8%	0.6%	0.6%	0.5%	0.5%	0.5%	0.6%	0.6%	0.6%
Expenses Other Operating Expenses	3.0%	2.9%	2.7%	2.7%	2.5%	2.6%	2.1%	-11.1%	-11.2%	-0.9%
Other Income Expense Operating Income	5.2%	2.6%	5.6%	2.3%	2.5%	2.6%	2.3%	4.6%	2.9%	5.2%
Other Income Expense Interest Expense	1.9%	1.8%	1.6%	1.4%	1.7%	2.1%	1.8%	1.7%	1.7%	1.6%
Other Income Expense Other Income/expense	0.2%	-0.1%	0.2%	0.0%	0.1%	0.2%	—	—	0.0%	0.0%
Other Income Expense Income Before Tax	3.8%	0.9%	4.2%	0.8%	1.5%	0.7%	2.1%	2.9%	1.7%	4.3%
Income Tax Income Tax Expense	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.2%
net Income Other Items Below Tax	1.9%	-0.1%	2.7%	-0.0%	1.7%	1.2%	-5.2%	-4.0%	0.2%	0.3%
net Income net Income	3.6%	0.8%	3.9%	0.8%	1.4%	0.7%	1.9%	2.6%	1.6%	3.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	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%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.1%	3.0%	2.9%	2.9%	2.8%	3.1%	3.0%	3.5%	3.5%	3.5%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 10 years

Operating cash flow $902.9M

Investing cash flow $-151.0M

Financing cash flow $-750.4M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	8.5%	8.0%	7.3%	7.4%	6.2%	6.3%	6.5%	7.3%	6.7%	7.0%
Operating Activities net Income	3.8%	0.9%	4.2%	0.8%	1.5%	0.7%	2.1%	2.9%	1.7%	4.2%
Operating Activities Depreciation and Amortization	6.4%	6.4%	6.1%	6.2%	5.8%	6.4%	5.3%	5.6%	5.6%	5.5%
Operating Activities Stock Based Compensation	0.2%	0.3%	0.3%	0.2%	0.2%	0.2%	0.3%	0.2%	0.2%	0.2%
Operating Activities Other Non Cash Items	-2.0%	0.5%	-3.2%	0.2%	-1.3%	-1.1%	0.4%	0.3%	-0.4%	-2.9%
Investing Activities Capital Expenditures	-4.2%	-2.9%	-4.1%	-6.8%	-14.7%	-7.2%	-16.2%	-3.4%	-6.1%	-3.6%
Investing Activities Other Investing Activities	2.8%	0.4%	1.6%	-1.6%	2.8%	2.4%	-1.3%	1.9%	0.8%	4.2%
Investing Activities net Cash From Investing Activities	-1.4%	-2.5%	-2.5%	-8.4%	-11.8%	-4.8%	-17.5%	-1.5%	-5.3%	-1.5%
Financing Activities Repayment of Debt	-0.1%	-2.5%	0.7%	0.7%	-2.9%	-9.2%	-6.7%	-6.5%	-4.2%	-7.8%
Financing Activities Dividends Paid	-5.8%	-5.6%	-5.1%	-4.7%	-4.4%	-4.7%	-4.3%	-4.9%	-4.7%	-4.5%
Financing Activities Repurchase of Common Stock	-1.1%	—	-0.2%	-0.4%	—	-0.2%	—	-0.3%	—	—
Financing Activities Other Financing Activities	-0.1%	-0.2%	-0.1%	5.5%	8.2%	0.9%	7.1%	3.4%	-0.3%	2.1%
Financing Activities net Cash From Financing Activities	-7.1%	-5.5%	-4.7%	1.0%	5.7%	-1.6%	9.1%	-3.4%	-1.4%	-5.6%
Cash Reconciliation net Change In Cash	0.0%	0.0%	0.0%	0.0%	0.0%	-0.1%	-1.8%	2.4%	-0.0%	-0.1%

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	+32.1%	+16.9%	+38.9%	+16.5%	+20.7%	+20.1%	+19.2%	+33.5%	+22.6%	+41.3%
Net margin	+21.9%	+5.3%	+27.2%	+5.7%	+11.6%	+5.2%	+16.1%	+19.2%	+12.1%	+30.1%
FCF margin	+26.6%	+33.3%	+22.2%	+4.3%	-70.6%	-7.1%	-80.9%	+28.2%	+4.8%	+27.0%
Growth
Revenue CAGR (3y)	+4.2%	+9.0%	+9.6%	+9.7%	+7.0%	+7.2%	+5.9%	+5.8%	+7.2%	+8.6%
Returns
ROE	+11.5%	+2.6%	+11.1%	+2.1%	+4.4%	+2.0%	+5.5%	+7.0%	+4.3%	+9.5%
ROA	+3.6%	+0.8%	+3.9%	+0.8%	+1.4%	+0.7%	+1.9%	+2.6%	+1.6%	+3.8%
ROIC	+6.1%	+3.0%	+6.5%	+2.6%	+3.0%	+2.9%	+2.7%	+5.6%	+3.5%	+6.0%
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	1.96x	1.87x	1.61x	1.49x	1.74x	1.71x	1.56x	1.31x	1.40x	1.19x
Interest coverage	2.82x	1.45x	3.51x	1.61x	1.44x	1.23x	1.29x	2.64x	1.77x	3.26x
Efficiency
Asset turnover	0.16x	0.15x	0.14x	0.14x	0.12x	0.13x	0.12x	0.14x	0.13x	0.13x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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FY2025 fundamentals · no price

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UDR, Inc.

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