Apartment Investment and Management Company (AIV) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Residential
EV/EBITDA
↓
2.01
↓-92% vs avg
5yr avg: 24.46
30Y Low0.9·High36.7
P/FCF
N/A
—
5yr avg: N/A
30Y Low1.4·High55.7
P/B Ratio
↓
1.15
↓-47% vs avg
5yr avg: 2.17
30Y Low0.0·High4.0
ROE
↑
133.1%
↓+591% vs avg
5yr avg: 19.3%
30Y Low-24%·High133%
Debt/EBITDA
↓
N/A
—
5yr avg: 17.01
30Y Low0.1·High23.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AIV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Apartment Investment and Management Company trades at 1.1x earnings, 86% below its 5-year average of 8.0x, sitting at the 24th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a discount of 95%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $596M | $838M | $1.3B | $1.1B | $1.1B | $1.2B | $784M | $826M | $871M | $895M | $917M |
| Enterprise Value | $201M | $443M | $2.3B | $2.3B | $2.0B | $2.5B | $1.6B | $1.4B | $886M | $1.1B | $978M |
| P/E Ratio → | 1.10 | 1.53 | — | — | 14.53 | — | — | 2752.00 | 268.35 | 2.83 | 14.40 |
| P/S Ratio | — | — | 6.03 | 6.01 | 5.64 | 6.79 | 5.18 | 5.71 | 6.59 | 0.89 | 0.92 |
| P/B Ratio | 1.15 | 1.61 | 4.03 | 1.90 | 1.36 | 1.94 | 1.39 | 1.59 | 0.09 | 0.09 | 0.09 |
| P/FCF | — | — | — | — | — | — | 32.74 | 44.39 | 55.67 | 26.35 | 29.51 |
| P/OCF | 73.60 | 103.53 | 26.79 | 22.28 | 5.26 | 91.69 | 16.40 | 14.25 | 16.28 | 2.28 | 2.43 |
P/E links to full P/E history page with 30-year chart
AIV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Apartment Investment and Management Company's enterprise value stands at 2.0x EBITDA, 92% below its 5-year average of 24.5x. The Real Estate sector median is 16.7x, placing the stock at a 88% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 11.07 | 12.13 | 10.67 | 14.94 | 10.33 | 9.54 | 6.70 | 1.05 | 0.98 |
| EV / EBITDA | 2.01 | 4.43 | 27.23 | 28.21 | 25.74 | 36.72 | 17.46 | 9.57 | 1.14 | 0.92 | 0.90 |
| EV / EBIT | 4.81 | 10.16 | — | — | 11.08 | 73.84 | 134.90 | 86.22 | 38.00 | 4.59 | 3.96 |
| EV / FCF | — | — | — | — | — | — | 65.27 | 74.16 | 56.64 | 31.06 | 31.46 |
AIV Profitability
Margins and return-on-capital ratios measuring operating efficiency
Operating margins have compressed from 6.2% to -0.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 133.1% is exceptionally high, though this is partly amplified by negative book value driven by aggressive share buybacks. ROIC of 4.2% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | 56.4% | 60.6% | 62.3% | 60.2% | 59.4% | 60.2% | 59.5% | 28.3% | 30.7% |
| Operating Margin | — | — | -0.7% | 6.2% | -42.1% | -9.2% | — | 55.3% | 17.8% | 36.4% | 33.4% |
| Net Profit Margin | — | — | -49.1% | -88.9% | 39.8% | -3.5% | -3.3% | 0.2% | 2.5% | 31.5% | 6.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 133.1% | 133.1% | -22.7% | -24.0% | 10.9% | -1.0% | -0.9% | 0.0% | 0.0% | 3.2% | 1.1% |
| ROA | 30.5% | 30.5% | -5.1% | -7.8% | 3.3% | -0.3% | -0.3% | 0.0% | 0.1% | 9.8% | 2.0% |
| ROIC | 4.2% | 4.2% | -0.1% | 0.5% | -3.2% | -0.7% | — | 1.1% | 0.2% | 2.7% | 3.2% |
| ROCE | 2.3% | 2.3% | -0.1% | 0.6% | -3.6% | -0.8% | — | 15.1% | 0.9% | 13.8% | 11.5% |
AIV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $395M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 3.85 | 2.14 | 1.47 | 2.71 | 1.90 | 1.08 | 0.01 | 0.03 | 0.02 |
| Debt / EBITDA | — | — | 14.16 | 15.75 | 14.74 | 23.39 | 11.94 | 3.88 | 0.11 | 0.26 | 0.18 |
| Net Debt / Equity | — | -0.76 | 3.37 | 1.93 | 1.21 | 2.32 | 1.38 | 1.07 | 0.00 | 0.02 | 0.01 |
| Net Debt / EBITDA | -3.95 | -3.95 | 12.39 | 14.22 | 12.12 | 20.02 | 8.70 | 3.84 | 0.02 | 0.14 | 0.06 |
| Debt / FCF | — | — | — | — | — | — | 32.53 | 29.77 | 0.96 | 4.71 | 1.95 |
| Interest Coverage | 0.70 | 0.70 | -0.02 | 0.31 | -1.08 | -0.30 | — | 4.30 | 1.19 | 1.88 | 1.70 |
Net cash position: cash ($395M) exceeds total debt ($0)
AIV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio has declined from 1.79x to 1.51x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 1.51 | 1.79 | 2.73 | 3.19 | 4.64 | 0.44 | 0.34 | 0.33 | 0.29 |
| Quick Ratio | — | — | 1.51 | 1.79 | 2.73 | 3.19 | 4.64 | 0.44 | 0.23 | 0.30 | 0.02 |
| Cash Ratio | — | — | 0.40 | 1.01 | 1.94 | 2.40 | 3.78 | 0.16 | 0.17 | 0.25 | 0.24 |
| Asset Turnover | — | — | 0.11 | 0.09 | 0.09 | 0.07 | 0.08 | 0.11 | 0.54 | 0.17 | 2.87 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 1.26 | 40.13 | 4.63 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
AIV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Apartment Investment and Management Company returns 69.4% to shareholders annually — split between a 69.3% dividend yield and 0.0% buyback yield. The earnings yield of 91.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 69.3% | 49.6% | — | — | 0.3% | — | — | — | 28.3% | 26.1% | 23.6% |
| Payout Ratio | — | — | — | — | 4.0% | — | — | — | — | 74.0% | 336.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 91.1% | 65.2% | — | — | 6.9% | — | — | 0.0% | 0.4% | 35.4% | 6.9% |
| FCF Yield | — | — | — | — | — | — | 3.1% | 2.3% | 1.8% | 3.8% | 3.4% |
| Buyback Yield | 0.0% | 0.0% | 3.2% | 4.3% | 2.2% | 0.0% | 0.0% | 0.0% | 42.9% | 0.0% | 3.8% |
| Total Shareholder Yield | 69.4% | 49.6% | 3.2% | 4.3% | 2.5% | 0.0% | 0.0% | 0.0% | 71.2% | 26.1% | 27.4% |
| Shares Outstanding | — | $141M | $138M | $144M | $151M | $149M | $149M | $120M | $149M | $154M | $152M |
Peer Comparison
Compare AIV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AIVYou | $596M | 1.1 | 2.0 | — | — | — | 133.1% | 4.2% | — |
 AVB | $26B | 25.1 | 19.1 | 18.2 | 67.0% | 30.1% | 8.9% | 3.3% | 5.1 |
 EQR | $25B | 22.8 | 15.7 | 19.2 | 46.3% | 36.3% | 9.7% | 4.2% | 4.1 |
 UDR | $12B | 32.7 | 18.1 | 19.6 | 25.6% | 18.8% | 8.8% | 2.3% | 6.2 |
 CPT | $11B | 29.6 | 16.5 | 28.4 | 61.4% | 18.4% | 8.4% | 2.6% | 4.3 |
 ESS | $17B | 25.6 | 16.7 | 16.0 | 68.8% | 43.9% | 11.7% | 5.0% | 4.8 |
 MAA | $15B | 34.4 | 16.5 | 21.1 | 31.8% | 28.0% | 7.5% | 4.2% | 4.4 |
 NXRT | $748M | -23.4 | 18.5 | 9.0 | 84.3% | 11.1% | -8.9% | 1.1% | 12.6 |
 IRT | $4B | 68.8 | 16.8 | 26.5 | -14.9% | 18.4% | 1.6% | 1.6% | 6.3 |
 BRT | $272M | -21.9 | 20.2 | 25.1 | 0.2% | 11.4% | -6.3% | 1.3% | 13.6 |
 ELME | $192M | -1.2 | — | 3.1 | — | — | -23.3% | -15.3% | — |
| Real Estate Median | — | 24.1 | 16.7 | 15.4 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAIV — Frequently Asked Questions
Quick answers to the most common questions about buying AIV stock.
What is Apartment Investment and Management Company's P/E ratio?
Apartment Investment and Management Company's current P/E ratio is 1.1x. The historical average is 6.5x. This places it at the 24th percentile of its historical range.
What is Apartment Investment and Management Company's EV/EBITDA?
Apartment Investment and Management Company's current EV/EBITDA is 2.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
What is Apartment Investment and Management Company's ROE?
Apartment Investment and Management Company's return on equity (ROE) is 133.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.3%.
Is AIV stock overvalued?
Based on historical data, Apartment Investment and Management Company is trading at a P/E of 1.1x. This is at the 24th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Apartment Investment and Management Company's dividend yield?
Apartment Investment and Management Company's current dividend yield is 69.32%.