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6Apr 28, 2026·SEC
Apr 15, 2026·SEC
Mar 2, 2026·SEC
Equity Residential (EQR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Equity Residential (EQR) stock price & volume — 10-year historical chart
Equity Residential (EQR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Equity Residential (EQR) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.24vs $0.28-14.5% | $780Mvs $782M-0.2% |
| Q1 2026 | Feb 5, 2026 | $1.03vs $1.04-1.0% | $782Mvs $786M-0.5% |
| Q4 2025 | Oct 28, 2025 | $1.02vs $1.02+0.0% | $782Mvs $786M-0.5% |
| Q3 2025 | Aug 4, 2025 | $0.99vs $0.99+0.0% | $769Mvs $781M-1.5% |
Equity Residential (EQR) competitors in Diversified apartment REITs — business model, growth, and fundamentals comparison
Equity Residential (EQR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Equity Residential (EQR) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 2.47B | 2.58B | 2.7B | 2.57B | 2.46B | 2.74B | 2.87B | 2.98B | 3.1B | 3.12B |
Revenue Growth % | 1.88% | 4.3% | 4.77% | -4.78% | -4.19% | 11.01% | 5.07% | 3.69% | 4.06% | 3.65% |
Property Operating Expenses | 826.27M | 879.63M | 908.33M | 916.38M | 948.79M | 982.58M | 1.05B | 1.09B | 1.66B | 1.68B |
Net Operating Income (NOI) | 1.65B▲ 0% | 1.7B▲ 3.2% | 1.79B▲ 5.6% | 1.66B▼ 7.6% | 1.52B▼ 8.5% | 1.75B▲ 15.7% | 1.83B▲ 4.3% | 1.89B▲ 3.2% | 1.44B▼ 23.8% | 1.45B▲ 0% |
NOI Margin % | 66.57% | 65.88% | 66.37% | 64.37% | 61.49% | 64.08% | 63.59% | 63.27% | 46.32% | 46.32% |
Operating Expenses | 640.61M | 583.43M | 436.2M | 337.33M | -160.64M | 58.71M | 60.72M | 61.65M | 309.84M | 555.95M |
G&A Expenses | 52.22M | 53.81M | 52.76M | 48.3M | 56.51M | 58.71M | 60.72M | 61.65M | 51.45M | 50.06M |
EBITDA | 1.75B | 1.9B | 2.19B | 2.14B | 2.51B | 2.59B | 2.67B | 2.79B | 2.14B | 1.89B |
EBITDA Margin % | 70.9% | 73.89% | 80.99% | 83.17% | 102.03% | 94.63% | 92.84% | 93.64% | 69.01% | 60.69% |
Depreciation & Amortization | 747.58M | 790.12M | 831.08M | 820.83M | 838.27M | 894.33M | 901.5M | 966.74M | 1.01B | 1B |
D&A / Revenue % | 30.25% | 30.65% | 30.77% | 31.92% | 34.02% | 32.7% | 31.37% | 32.44% | 32.69% | 32.19% |
Operating Income | 1B▲ 0% | 1.11B▲ 11.0% | 1.36B▲ 21.7% | 1.32B▼ 2.8% | 1.68B▲ 27.2% | 1.69B▲ 1.1% | 1.77B▲ 4.3% | 1.82B▲ 3.2% | 1.13B▼ 38.2% | 889.15M▲ 0% |
Operating Margin % | 40.65% | 43.24% | 50.22% | 51.25% | 68.01% | 61.93% | 61.47% | 61.2% | 36.33% | 28.5% |
Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 285.74M | 237.35M | 4M |
Interest Coverage | - | - | - | - | - | - | - | 3.05x | 5.58x | - |
Non-Operating Income | 155.36M | 256.11M | 447.64M | 531.81M | 1.06B | 882.17M | 888.71M | 952.19M | -198.44M | -455.19M |
Pretax Income | 628.86M▲ 0% | 686.07M▲ 9.1% | 1.01B▲ 46.8% | 963.35M▼ 4.4% | 1.4B▲ 45.1% | 807.89M▼ 42.2% | 869.64M▲ 7.6% | 1.07B▲ 23.3% | 1.16B▲ 8.0% | 988.89M▲ 0% |
Pretax Margin % | 25.45% | 26.62% | 37.3% | 37.46% | 56.72% | 29.54% | 30.26% | 35.98% | 37.36% | 31.69% |
Income Tax | 478K | 878K | -2.28M | 852K | 915K | 900K | 1.15M | 1.26M | 6.58M | 8.62M |
Effective Tax Rate % | 0.08% | 0.13% | -0.23% | 0.09% | 0.07% | 0.11% | 0.13% | 0.12% | 0.57% | 0.87% |
Net Income | 603.45M▲ 0% | 657.53M▲ 9.0% | 970.38M▲ 47.6% | 913.64M▼ 5.8% | 1.33B▲ 45.9% | 776.91M▼ 41.7% | 835.44M▲ 7.5% | 1.04B▲ 24.0% | 1.12B▲ 8.1% | 953.58M▲ 0% |
Net Margin % | 24.42% | 25.51% | 35.93% | 35.53% | 54.09% | 28.4% | 29.07% | 34.76% | 36.12% | 30.56% |
Net Income Growth % | -85.94% | 8.96% | 47.58% | -5.85% | 45.88% | -41.71% | 7.53% | 23.99% | 8.13% | -4.32% |
Funds From Operations (FFO) | 1.35B▲ 0% | 1.45B▲ 7.2% | 1.8B▲ 24.4% | 1.73B▼ 3.7% | 2.17B▲ 25.2% | 1.67B▼ 23.0% | 1.74B▲ 3.9% | 2B▲ 15.3% | 2.13B▲ 6.5% | 1.96B▲ 0% |
FFO Margin % | 54.67% | 56.16% | 66.7% | 67.44% | 88.11% | 61.1% | 60.44% | 67.2% | 68.8% | 62.75% |
FFO Growth % | -72.99% | 7.15% | 24.44% | -3.72% | 25.18% | -23.02% | 3.93% | 15.29% | 6.55% | 10.18% |
FFO per Share | 3.53 | 3.77 | 4.66 | 4.49 | 5.59 | 4.29 | 4.44 | 5.13 | 5.49 | 5.08 |
FFO Payout Ratio % | 54.73% | 54.03% | 46.14% | 50.96% | 41.47% | 55.75% | 57.01% | 50.89% | 49.03% | 40.34% |
EPS (Diluted) | 1.58▲ 0% | 1.71▲ 8.2% | 2.50▲ 46.2% | 2.27▼ 9.2% | 3.54▲ 55.9% | 2.05▼ 42.1% | 2.13▲ 3.9% | 2.72▲ 27.7% | 2.91▲ 7.0% | 2.48▲ 0% |
EPS Growth % | -85.94% | 8.23% | 46.2% | -9.2% | 55.95% | -42.09% | 3.9% | 27.7% | 6.99% | -4.62% |
EPS (Basic) | 1.64 | 1.79 | 2.61 | 2.36 | 3.56 | 2.06 | 2.20 | 2.73 | 2.97 | - |
Diluted Shares Outstanding | 382.68M | 383.69M | 386.33M | 385.87M | 388.09M | 389.45M | 390.9M | 390.74M | 388.75M | 385.11M |
Equity Residential (EQR) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 20.57B | 20.39B | 21.17B | 20.29B | 21.17B | 20.22B | 20.03B | 20.83B | 20.75B | 20.52B |
Asset Growth % | -0.65% | -0.86% | 3.82% | -4.18% | 4.35% | -4.49% | -0.91% | 3.99% | -0.42% | 6.33% |
Real Estate & Other Assets | 20.41B | 20.22B | 20.49B | 19.64B | 20.21B | 19.34B | 19.16B | 19.83B | -19.87B | 319.05M |
PP&E (Net) | 19.89B | 19.72B | 512.77M | 499.29M | 474.71M | 462.96M | 457.27M | 455.44M | 454.92M | 452.32M |
Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Total Current Assets | 100.76M | 116.31M | 117M | 99.73M | 360.24M | 137.17M | 140M | 160.17M | 55.9M | 34.68M |
Cash & Equivalents | 50.65M | 47.44M | 45.75M | 42.59M | 123.83M | 53.87M | 50.74M | 62.3M | 55.9M | 34.68M |
Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 0 |
Other Current Assets | 50.12M | 68.87M | 71.25M | 57.14M | 236.4M | 83.3M | 89.25M | 97.86M | -14.64M | 0 |
Intangible Assets | 170.74M | 166.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Liabilities | 9.73B | 9.62B | 10.16B | 9.18B | 9.48B | 8.52B | 8.46B | 9.25B | 9.34B | 9.5B |
Total Debt | 8.96B | 8.82B | 9.37B | 8.37B | 8.65B | 7.73B | 7.7B | 8.43B | 8.78B | 8.64B |
Net Debt | 8.91B | 8.77B | 9.32B | 8.33B | 8.53B | 7.68B | 7.65B | 8.36B | 8.73B | 8.61B |
Long-Term Debt | 8.66B | 8.32B | 8.02B | 7.63B | 8.03B | 7.3B | 6.98B | 7.58B | 7.29B | 6.99B |
Short-Term Borrowings | 299.76M | 499.18M | 1.02B | 414.83M | 315.03M | 129.96M | 409.13M | 543.68M | 1.19B | 1.35B |
Capital Lease Obligations | 0 | 0 | 331.33M | 329.13M | 312.33M | 308.75M | 311.64M | 304.9M | 304.57M | 1.22B |
Total Current Liabilities | 665.39M | 870.88M | 1.4B | 820.35M | 725.05M | 536.91M | 821.46M | 980.7M | 1.19B | 1.35B |
Accounts Payable | 114.77M | 102.47M | 94.35M | 107.37M | 107.01M | 96.03M | 87.38M | 99.35M | 0 | 0 |
Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Liabilities | 406.86M | 425.82M | 417.02M | 405.54M | 419.24M | 375.88M | 341.77M | 386.17M | 552.73M | 851.94M |
Total Equity | 10.84B▲ 0% | 10.78B▼ 0.6% | 11.01B▲ 2.1% | 11.1B▲ 0.9% | 11.69B▲ 5.3% | 11.7B▲ 0.1% | 11.58B▼ 1.0% | 11.58B▲ 0.1% | 11.41B▼ 1.5% | 11.02B▲ 0% |
Equity Growth % | -0.57% | -0.57% | 2.13% | 0.86% | 5.26% | 0.13% | -1.05% | 0.05% | -1.51% | -5.72% |
Shareholders Equity | 10.24B | 10.17B | 10.32B | 10.53B | 10.95B | 11.17B | 11.09B | 11.04B | 11.04B | 10.67B |
Minority Interest | 598.35M | 605.55M | 692.42M | 576.79M | 731.24M | 527.51M | 492.55M | 539.79M | 367.63M | 350.97M |
Common Stock | 3.68M | 3.69M | 3.72M | 3.72M | 3.75M | 3.78M | 3.79M | 3.79M | 3.78M | 3.75M |
Additional Paid-in Capital | 8.89B | 8.94B | 8.97B | 9.13B | 9.12B | 9.48B | 9.6B | 9.61B | 9.82B | 9.85B |
Retained Earnings | 1.4B | 1.26B | 1.39B | 1.4B | 1.83B | 1.66B | 1.44B | 1.41B | 1.19B | 800.7M |
Preferred Stock | 37.28M | 37.28M | 37.28M | 37.28M | 37.28M | 37.28M | 37.28M | 17.16M | 17.16M | 17.16M |
Return on Assets (ROA) | 2.92% | 3.21% | 4.67% | 4.41% | 6.43% | 3.75% | 4.15% | 5.07% | 5.39% | 4.58% |
Return on Equity (ROE) | 5.55% | 6.08% | 8.91% | 8.26% | 11.7% | 6.64% | 7.18% | 8.94% | 9.74% | 8.4% |
Debt / Assets | 43.54% | 43.24% | 44.25% | 41.27% | 40.88% | 38.25% | 38.44% | 40.45% | 42.34% | 42.13% |
Debt / Equity | 0.83x | 0.82x | 0.85x | 0.75x | 0.74x | 0.66x | 0.67x | 0.73x | 0.77x | 0.78x |
Net Debt / EBITDA | 5.08x | 4.60x | 4.26x | 3.90x | 3.39x | 2.97x | 2.87x | 3.00x | 4.08x | 4.55x |
Book Value per Share | 28.33 | 28.09 | 28.49 | 28.77 | 30.11 | 30.04 | 29.62 | 29.65 | 29.35 | 28.62 |
Equity Residential (EQR) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 1.27B | 1.36B | 1.46B | 1.27B | 1.26B | 1.45B | 1.53B | 1.57B | 1.65B | 1.62B |
Operating CF Growth % | 4.26% | 7.15% | 7.42% | -13.14% | -0.42% | 15.44% | 5.36% | 2.66% | 4.78% | 12.71% |
Operating CF / Revenue % | 51.22% | 52.62% | 53.95% | 49.21% | 51.14% | 53.19% | 53.33% | 52.8% | 53.17% | 52.04% |
Net Income | 628.38M | 685.19M | 1.01B | 962.5M | 1.4B | 807M | 868.49M | 1.07B | 1.12B | 953.58M |
Depreciation & Amortization | 747.58M | 790.12M | 842.78M | 832.44M | 851.38M | 894.33M | 901.5M | 966.74M | 1.01B | 1.01B |
Stock-Based Compensation | 25M | 27.13M | 24.45M | 23.17M | 27.81M | 29.51M | 31.82M | 31.29M | 0 | 26.2M |
Other Non-Cash Items | -122.26M | -171.79M | -449.49M | -478.54M | -1.05B | -271.38M | -271.17M | -534.53M | -528.03M | -287.04M |
Working Capital Changes | -12.91M | 25.65M | 29.54M | -74.04M | 29.73M | -4.69M | 2.16M | 39.13M | 46.3M | 13.85M |
Cash from Investing | -594.3M | -376.83M | -771.82M | 663.59M | -434.62M | 107.79M | -409.5M | -1.18B | -321.36M | -510.86M |
Acquisitions (Net) | -6.03M | -6.57M | -9.6M | -5.78M | -79.79M | -159.7M | -47.87M | -109.72M | 0 | -105.32M |
Purchase of Investments | 0 | 0 | -269K | -773K | -168.29M | -2.06M | -2.5M | 0 | 0 | 0 |
Sale of Investments | 0 | 0 | 0 | 0 | 191.4M | 3.58M | 3.04M | 15.04M | 0 | 396.07M |
Other Investing | -586.76M | -365.76M | -757M | 690.23M | -376.24M | 270.02M | -360.32M | -1.08B | -321.36M | -801.25M |
Cash from Financing | -789.82M | -963.91M | -684.47M | -1.95B | -565.06M | -1.79B | -1.12B | -376.95M | -1.33B | -787.22M |
Dividends Paid | -742.47M | -785.99M | -834.2M | -887.03M | -903.56M | -934.1M | -993.24M | -1.02B | -1.05B | -790.91M |
Common Dividends | -739.38M | -782.12M | -831.11M | -883.94M | -900.47M | -931.78M | -990.15M | -1.02B | -1.05B | -789.85M |
Debt Issuance (Net) | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -49.1M | -38.47M | -280.72M | -280.72M |
Other Financing | -17.48M | -16.01M | -24.6M | -57.28M | 47.05M | -61.8M | 8.41M | -19M | -52.41M | -513.8M |
Net Change in Cash | -118.33M▲ 0% | 15.55M▲ 113.1% | 686K▼ 95.6% | -17.27M▼ 2617.6% | 260.51M▲ 1608.4% | -223.06M▼ 185.6% | 2.82M▲ 101.3% | 20.17M▲ 614.5% | -1.31M▼ 106.5% | 17.31M▲ 0% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 219.09M | 100.76M | 116.31M | 117M | 99.73M | 360.24M | 137.17M | 140M | 160.17M | 0 |
Cash at End | 100.76M | 116.31M | 117M | 99.73M | 360.24M | 137.17M | 140M | 160.17M | 158.85M | 0 |
Free Cash Flow | 1.04B▲ 0% | 1.16B▲ 11.7% | 1.27B▲ 9.5% | 1.1B▼ 13.2% | 1.09B▼ 0.7% | 1.22B▲ 12.0% | 1.2B▼ 1.9% | 1.25B▲ 4.6% | 1.29B▲ 2.8% | 1.33B▲ 0% |
FCF Growth % | 5.14% | 11.75% | 9.48% | -13.22% | -0.71% | 12% | -1.9% | 4.64% | 2.77% | 4.86% |
FCF / Revenue % | 41.89% | 44.89% | 46.9% | 42.75% | 44.3% | 44.7% | 41.73% | 42.11% | 41.59% | 42.67% |
Equity Residential (EQR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 3.53 | 3.77 | 4.66 | 4.49 | 5.59 | 4.29 | 4.44 | 5.13 | 5.49 | 5.08 |
FFO Payout Ratio | 54.73% | 54.03% | 46.14% | 50.96% | 41.47% | 55.75% | 57.01% | 50.89% | 49.03% | 40.34% |
NOI Margin | 66.57% | 65.88% | 66.37% | 64.37% | 61.49% | 64.08% | 63.59% | 63.27% | 46.32% | 46.32% |
Net Debt / EBITDA | 5.08x | 4.60x | 4.26x | 3.90x | 3.39x | 2.97x | 2.87x | 3.00x | 4.08x | 4.55x |
Debt / Assets | 43.54% | 43.24% | 44.25% | 41.27% | 40.88% | 38.25% | 38.44% | 40.45% | 42.34% | 42.13% |
Interest Coverage | - | - | - | - | - | - | - | 3.05x | 5.58x | - |
Book Value / Share | 28.33 | 28.09 | 28.49 | 28.77 | 30.11 | 30.04 | 29.62 | 29.65 | 29.35 | 28.62 |
Revenue Growth | 1.88% | 4.3% | 4.77% | -4.78% | -4.19% | 11.01% | 5.07% | 3.69% | 4.06% | 3.65% |
Equity Residential (EQR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 28, 2026·SEC
Apr 15, 2026·SEC
Mar 2, 2026·SEC
Equity Residential (EQR) stock FAQ — growth, dividends, profitability & financials explained
Equity Residential (EQR) reported $3.12B in revenue for fiscal year 2025. This represents a 552% increase from $478.4M in 1996.
Equity Residential (EQR) grew revenue by 4.1% over the past year. Growth has been modest.
Yes, Equity Residential (EQR) is profitable, generating $953.6M in net income for fiscal year 2025 (36.1% net margin).
Yes, Equity Residential (EQR) pays a dividend with a yield of 4.20%. This makes it attractive for income-focused investors.
Equity Residential (EQR) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
Equity Residential (EQR) generated Funds From Operations (FFO) of $1.96B in the trailing twelve months. FFO is the primary profitability metric for REITs.
Equity Residential (EQR) offers a 4.20% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.