Last 46 quarters of trend data · Real Estate · REIT - Residential
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
American Homes 4 Rent's quarterly P/E stands at 30.8x, down 35.8% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 28.7% YoY to 17.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 29.89 | 30.79 | 32.21 | 31.51 | 28.35 | 47.99 | 37.16 | 30.65 | 42.81 | 42.11 | 32.82 | 24.57 | 31.40 |
| — | -35.8% | -13.3% | +2.8% | -33.8% | +14.0% | +13.2% | +24.7% | +36.4% | -28.1% | -40.7% | -60.7% | -59.7% | |
| P/S Ratio | 6.87 | 6.45 | 7.31 | 7.63 | 7.93 | 7.93 | 8.06 | 7.97 | 7.99 | 7.25 | 8.12 | 7.13 | 7.01 |
| — | -18.7% | -9.2% | -4.2% | -0.9% | +9.4% | -0.8% | +11.7% | +14.1% | -0.9% | -5.0% | -26.8% | -35.5% | |
| P/B Ratio | 1.51 | 1.57 | 1.71 | 1.79 | 1.76 | 1.83 | 1.77 | 1.75 | 1.71 | 1.62 | 1.70 | 1.51 | 1.49 |
| — | -14.2% | -3.6% | +2.0% | +3.3% | +13.2% | +4.0% | +16.1% | +14.8% | +0.9% | -4.2% | -22.6% | -31.7% | |
| P/FCF | 17.22 | 18.51 | 13.88 | 18.21 | 56.15 | 17.43 | 13.77 | 18.96 | 37.33 | 18.10 | 17.91 | 16.80 | 92.94 |
| — | +6.2% | +0.8% | -4.0% | +50.4% | -3.7% | -23.1% | +12.8% | -59.8% | +9.1% | +10.4% | -34.8% | +64.3% | |
| EV / EBITDA | 12.39 | 17.65 | 18.76 | 13.21 | 13.23 | 13.71 | 13.47 | 13.76 | 13.40 | 13.12 | 13.75 | 12.56 | 12.22 |
| — | +28.7% | +39.3% | -4.0% | -1.3% | +4.5% | -2.0% | +9.5% | +9.7% | -1.4% | -7.8% | -23.2% | -28.6% | |
| EV / EBIT | 19.11 | 25.99 | 26.83 | 42.97 | 43.83 | 46.44 | 45.12 | 46.94 | 45.43 | 47.41 | 50.13 | 46.00 | 45.87 |
| — | -44.0% | -40.5% | -8.5% | -3.5% | -2.1% | -10.0% | +2.1% | -0.9% | -5.0% | -12.5% | -24.2% | -26.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
American Homes 4 Rent's operating margin was 24.3% in Q3 2025, down 1.1 pp QoQ and down 24.7 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 38.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.6% | 55.1% | 57.5% | 55.4% | 57.5% | 53.6% | 56.4% | 55.0% | 56.4% | 52.3% | 55.2% | 54.0% | 55.2% |
| — | +2.8% | +2.0% | +0.8% | +2.0% | +2.5% | +2.2% | +1.8% | +2.2% | -0.3% | +1.7% | +1.0% | -0.2% | |
| Operating Margin | 50.6% | 24.3% | 25.4% | 50.9% | 52.6% | 49.0% | 51.1% | 49.6% | 51.7% | 47.7% | 49.9% | 49.3% | 51.9% |
| — | -50.4% | -50.3% | +2.5% | +1.7% | +2.7% | +2.2% | +0.6% | -0.4% | -0.4% | +2.3% | +1.9% | +0.6% | |
| Net Margin | 23.9% | 21.5% | 23.8% | 24.7% | 29.0% | 17.4% | 22.6% | 26.6% | 19.6% | 18.4% | 25.7% | 30.4% | 23.9% |
| — | +23.8% | +5.5% | -7.2% | +48.1% | -5.6% | -12.0% | -12.5% | -18.0% | +33.0% | +40.3% | +75.5% | +50.0% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 1.3% | 1.4% | 1.4% | 1.6% | 1.0% | 1.2% | 1.5% | 1.1% | 1.0% | 1.3% | 1.6% | 1.3% |
| — | +30.7% | +12.1% | -1.5% | +54.7% | -2.4% | -7.9% | -10.8% | -17.1% | +33.7% | +43.2% | +84.8% | +57.2% | |
| ROA | 3.2% | 0.8% | 0.8% | 0.9% | 1.0% | 0.6% | 0.7% | 0.9% | 0.6% | 0.6% | 0.8% | 1.0% | 0.8% |
| — | +29.6% | +10.6% | -4.0% | +52.3% | -4.4% | -9.9% | -9.9% | -15.4% | +36.7% | +43.2% | +78.6% | +49.5% | |
| ROIC | 5.3% | 0.7% | 0.7% | 1.4% | 1.4% | 1.4% | 1.3% | 1.3% | 1.3% | 1.3% | 1.3% | 1.3% | 1.3% |
| — | -49.4% | -49.1% | +5.9% | +5.2% | +6.4% | +6.3% | +3.3% | +3.1% | +3.4% | +6.6% | +5.5% | +1.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
American Homes 4 Rent's Debt/EBITDA ratio is 20.0x, down from 21.3x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 48.7% YoY to 0.39x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.62 | 0.66 | 0.63 | 0.64 | 0.59 | 0.65 | 0.59 | 0.59 | 0.58 | 0.58 | 0.59 | 0.63 |
| — | +5.2% | +1.5% | +7.4% | +9.4% | +1.3% | +11.5% | +0.2% | -7.4% | -5.7% | -8.1% | +5.3% | +9.3% | |
| Debt / EBITDA | 3.73 | 20.01 | 21.30 | 13.82 | 14.25 | 13.45 | 15.04 | 13.90 | 13.73 | 13.93 | 14.18 | 14.28 | 14.64 |
| — | +48.7% | +41.6% | -0.6% | +3.8% | -3.4% | +6.1% | -2.6% | -6.2% | -6.4% | -9.9% | -2.0% | +1.6% | |
| Current Ratio | 1.00 | 0.39 | 1.07 | 0.33 | 1.00 | 0.75 | 2.07 | 0.81 | 0.52 | 0.60 | 0.90 | 1.18 | 0.54 |
| — | -48.7% | -48.2% | -59.3% | +89.8% | +25.5% | +131.6% | -31.5% | -2.7% | -13.1% | +40.1% | +204.5% | +29.1% | |
| Quick Ratio | 1.00 | 0.39 | 1.07 | 0.33 | 1.00 | 0.75 | 2.07 | 0.81 | 0.52 | 0.60 | 0.90 | 1.18 | 0.54 |
| — | -48.7% | -48.2% | -59.3% | +89.8% | +25.5% | +131.6% | -31.5% | -2.7% | -13.1% | +40.1% | +204.5% | +29.1% | |
| Interest Coverage | 5.29 | 2.41 | 2.51 | 5.15 | 5.16 | 5.01 | 5.59 | 5.45 | 4.28 | 5.86 | 5.67 | 5.47 | 5.45 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 46 years · Updated daily
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American Homes 4 Rent's current P/E is 29.9x. The average P/E over the last 4 quarters is 30.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
American Homes 4 Rent's current operating margin is 50.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking American Homes 4 Rent's business trajectory between earnings reports.