Essex Property Trust, Inc. (ESS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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ESS Revenue Growth
Revenue Breakdown (FY 2023)
ESS's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
By Geography
ESS Revenue Analysis (2014–2025)
As of May 6, 2026, Essex Property Trust, Inc. (ESS) generated trailing twelve-month (TTM) revenue of $1.91 billion, reflecting modest growth of +1.5% year-over-year. The most recent quarter (Q1 2026) recorded $484.8 million in revenue, up 1.1% sequentially.
Looking at the longer-term picture, ESS's 5-year compound annual growth rate (CAGR) stands at +4.9%, indicating moderate growth over time. The company achieved its highest annual revenue of $1.90 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows ESS's business is primarily driven by Management And Other Fees From Affiliates Income (100%). With over half of revenue concentrated in Management And Other Fees From Affiliates Income, the company maintains significant focus in this area while developing other growth vectors.
When compared to Real Estate sector peers including EQR (+3.7% YoY), AVB (+4.3% YoY), and UDR (+2.1% YoY), ESS has underperformed the peer group in terms of revenue growth. Compare ESS vs EQR →
ESS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ESSCurrent | $1.9B | +1.5% | +4.9% | 43.9% | |
 EQR | $3.1B | +3.7% | +3.8% | 36.3% | |
 AVB | $3.0B | +4.3% | +5.7% | 30.1% | |
 UDR | $1.7B | +2.1% | +6.6% | 18.8% | |
 CPT | $1.6B | -23.7% | +8.6% | 18.4% | |
 MAA | $2.2B | +0.8% | +5.7% | 28.0% |
ESS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.90B | +7.1% | $1.31B | 68.8% | $834.0M | 43.9% |
| 2024 | $1.77B | +6.3% | $1.21B | 68.1% | $703.1M | 39.6% |
| 2023 | $1.67B | +3.9% | $1.14B | 68.1% | $584.3M | 35.0% |
| 2022 | $1.61B | +11.5% | $1.11B | 69.0% | $595.2M | 37.0% |
| 2021 | $1.44B | -3.7% | $1.21B | 83.9% | $530.0M | 36.8% |
| 2020 | $1.50B | +2.4% | $1.28B | 85.9% | $491.4M | 32.9% |
| 2019 | $1.46B | +4.3% | $1.27B | 87.0% | $481.1M | 32.9% |
| 2018 | $1.40B | +2.7% | $1.22B | 86.9% | $512.0M | 36.6% |
| 2017 | $1.36B | +5.4% | $1.19B | 87.1% | $472.9M | 34.7% |
| 2016 | $1.29B | +8.3% | $1.12B | 86.9% | $420.8M | 32.5% |
Full ESS Stock Analysis
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Start ComparisonESS — Frequently Asked Questions
Quick answers to the most common questions about buying ESS stock.
Is ESS's revenue growth accelerating or slowing?
ESS revenue growth slowed to +1.5%, below the 5-year CAGR of +4.9%. TTM revenue is $1.9B. The deceleration marks a shift from historical growth rates.
What is ESS's long-term revenue growth rate?
Essex Property Trust, Inc.'s 5-year revenue CAGR of +4.9% reflects the variable expansion pattern. Current YoY growth of +1.5% is near this long-term average.
How is ESS's revenue distributed by segment?
ESS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.