What is Avalonbay Cmntys Inc's earnings per share (EPS)?

Avalonbay Cmntys Inc (AVB) reported diluted earnings per share of $7.40 for fiscal year 2025. This represents a -2.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Avalonbay Cmntys Inc Financials

AVB

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Avalonbay Cmntys Inc (AVB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AVB FY2025 2026-05-07

AvalonBay's property earnings look flatter than its cash generation because depreciation and reinvestment dominate the income statement.

From FY2023 to FY2025, operating cash flow rose from $1.56B to $1.67B even as reported earnings stayed near the same level, so the business's underlying cash engine improved more than net income suggests. With depreciation reaching $913M in FY2025 and interest expense also moving higher, more of the economics showed up in cash flow while net margin took the pressure.

Operating margin widened from 64.7% in FY2023 to 66.5% in FY2025, which means added revenue was dropping through to profit more efficiently rather than being absorbed by operating costs. That is the pattern of an asset base already carrying much of its overhead, not a model that needs spending to rise in lockstep with revenue.

The balance sheet also became more debt-funded: debt to equity reached 0.8x in FY2025 and long-term debt climbed to $9.33B. With cash at only $187M and share buybacks of $488M, AvalonBay was using financing capacity and operating inflows to fund investment and capital returns instead of building a large liquidity buffer.

Financial Health Signals

Financial Profile 43/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Avalonbay Cmntys Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

100

Avalonbay Cmntys Inc has an operating margin of 66.5%, meaning the company retains $66 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 65.5% the prior year.

Growth

Avalonbay Cmntys Inc's revenue grew a modest 4.4% year-over-year to $3.0B. This slow but positive growth earns a score of 41/100.

Leverage

Avalonbay Cmntys Inc carries a low D/E ratio of 0.80, meaning only $0.80 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Returns

Avalonbay Cmntys Inc's ROE of 9.1% shows moderate profitability relative to equity, earning a score of 31/100. This is up from 9.1% the prior year.

Piotroski F-Score Neutral

4/9

Avalonbay Cmntys Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.58x

For every $1 of reported earnings, Avalonbay Cmntys Inc generates $1.58 in operating cash flow ($1.7B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

7.8x

Avalonbay Cmntys Inc earns $7.8 in operating income for every $1 of interest expense ($2.0B vs $259.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.0B

YoY+4.4%

5Y CAGR+5.7%

10Y CAGR+5.1%

Avalonbay Cmntys Inc generated $3.0B in revenue in fiscal year 2025. This represents an increase of 4.4% from the prior year.

EBITDA

$2.9B

YoY+6.4%

5Y CAGR+6.1%

10Y CAGR+5.6%

Avalonbay Cmntys Inc's EBITDA was $2.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.4% from the prior year.

Net Income

$1.1B

YoY-2.3%

5Y CAGR+5.0%

10Y CAGR+3.6%

Avalonbay Cmntys Inc reported $1.1B in net income in fiscal year 2025. This represents a decrease of 2.3% from the prior year.

EPS (Diluted)

$7.40

YoY-2.6%

5Y CAGR+4.7%

10Y CAGR+3.0%

Avalonbay Cmntys Inc earned $7.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 2.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$187.2M

YoY+72.4%

5Y CAGR-2.9%

10Y CAGR-7.3%

Avalonbay Cmntys Inc held $187.2M in cash against $9.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

$7.00

YoY+2.9%

5Y CAGR+1.9%

10Y CAGR+3.4%

Avalonbay Cmntys Inc paid $7.00 per share in dividends in fiscal year 2025. This represents an increase of 2.9% from the prior year.

Shares Outstanding

140M

YoY-1.5%

5Y CAGR+0.1%

10Y CAGR+0.2%

Avalonbay Cmntys Inc had 140M shares outstanding in fiscal year 2025. This represents a decrease of 1.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

66.5%

YoY+0.9pp

5Y CAGR+2.5pp

10Y CAGR+1.0pp

Avalonbay Cmntys Inc's operating margin was 66.5% in fiscal year 2025, reflecting core business profitability. This is up 0.9 percentage points from the prior year.

Net Margin

34.8%

YoY-2.4pp

5Y CAGR-1.2pp

10Y CAGR-5.2pp

Avalonbay Cmntys Inc's net profit margin was 34.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.

Return on Equity

9.1%

YoY+0.0pp

5Y CAGR+1.4pp

10Y CAGR+1.6pp

Avalonbay Cmntys Inc's ROE was 9.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$488.1M

5Y CAGR+21.6%

Avalonbay Cmntys Inc spent $488.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

AVB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.0B+4.4%	$2.9B+5.3%	$2.8B+6.7%	$2.6B+13.0%	$2.3B-0.3%	$2.3B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$86.7M+11.6%	$77.7M+1.5%	$76.5M+3.3%	$74.1M+6.4%	$69.6M+15.4%	$60.3M
Operating Income	$2.0B+5.8%	$1.9B+6.7%	$1.8B+5.3%	$1.7B+16.8%	$1.5B-1.1%	$1.5B
Interest Expense	$259.2M+14.4%	$226.6M+10.0%	$206.0M-10.5%	$230.1M+4.4%	$220.4M+2.9%	$214.2M
Income Tax	-$1.1M-355.1%	$445K-95.6%	$10.2M-30.7%	$14.6M+155.5%	$5.7M+276.6%	-$3.2M
Net Income	$1.1B-2.3%	$1.1B+16.5%	$928.8M-18.3%	$1.1B+13.2%	$1.0B+21.3%	$827.7M
EPS (Diluted)	$7.40-2.6%	$7.60+15.9%	$6.56-19.2%	$8.12+12.9%	$7.19+22.1%	$5.89

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$770.3M+0.3%	$767.9M+0.1%	$766.8M+0.9%	$760.2M+1.9%	$745.9M+0.7%	$740.5M+0.9%	$734.3M+1.1%	$726.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$22.1M+0.9%	$21.9M-0.7%	$22.0M-4.2%	$23.0M+16.3%	$19.8M+11.8%	$17.7M-11.9%	$20.1M+2.6%	$19.6M
Operating Income	$517.5M+2.0%	$507.1M+0.7%	$503.8M-1.9%	$513.7M+3.5%	$496.4M+6.3%	$467.1M-2.8%	$480.6M-0.6%	$483.3M
Interest Expense	$71.5M+3.4%	$69.1M+5.7%	$65.4M+0.9%	$64.8M+8.2%	$59.9M+1.5%	$59.0M+5.8%	$55.8M-2.3%	$57.1M
Income Tax	-$294K+0.3%	-$295K-52.8%	-$193K+63.7%	-$531K-357.8%	-$116K+54.2%	-$253K-132.4%	$782K+1361.3%	-$62K
Net Income	$325.7M+91.6%	$170.0M-55.4%	$381.3M+41.9%	$268.7M+13.6%	$236.6M-16.1%	$282.1M-24.3%	$372.5M+46.7%	$253.9M
EPS (Diluted)	$2.33	N/A	$2.68+42.6%	$1.88+13.3%	$1.66	N/A	$2.61+46.6%	$1.78

AVB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$22.2B+5.7%	$21.0B+1.6%	$20.7B+1.1%	$20.5B+2.8%	$19.9B+3.7%	$19.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$187.2M+72.4%	$108.6M-72.7%	$397.9M-35.1%	$613.2M+45.9%	$420.3M+93.7%	$217.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$10.4B+14.3%	$9.1B+1.9%	$8.9B-3.3%	$9.2B+2.6%	$9.0B+6.2%	$8.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$9.3B+15.5%	$8.1B+1.2%	$8.0B-4.0%	$8.3B+2.6%	$8.1B+6.2%	$7.6B
Total Equity	$11.6B-2.8%	$11.9B+1.3%	$11.8B+4.7%	$11.3B+2.9%	$10.9B+1.7%	$10.8B
Retained Earnings	$371.2M-37.2%	$591.3M+23.7%	$478.2M-1.5%	$485.2M+101.5%	$240.8M+91.1%	$126.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$22.1B-0.3%	$22.2B+1.1%	$21.9B+0.5%	$21.8B+2.9%	$21.2B+1.0%	$21.0B-1.4%	$21.3B+1.3%	$21.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$121.2M-35.3%	$187.2M+51.8%	$123.3M+19.9%	$102.8M+93.1%	$53.3M-51.0%	$108.6M-80.3%	$552.4M+1.2%	$545.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$10.4B+0.5%	$10.4B+5.8%	$9.8B+1.2%	$9.7B+4.0%	$9.3B+2.6%	$9.1B-3.9%	$9.4B+1.4%	$9.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$9.4B+0.3%	$9.3B+6.9%	$8.7B+0.8%	$8.7B+4.3%	$8.3B+2.8%	$8.1B-3.6%	$8.4B0.0%	$8.4B
Total Equity	$11.5B-1.0%	$11.6B-2.7%	$11.9B-0.1%	$11.9B+0.3%	$11.9B-0.2%	$11.9B+0.5%	$11.9B+1.2%	$11.7B
Retained Earnings	$339.6M-8.5%	$371.2M-41.9%	$638.9M+7.3%	$595.5M+3.3%	$576.5M-2.5%	$591.3M+7.2%	$551.4M+30.9%	$421.1M

AVB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.7B+3.9%	$1.6B+3.1%	$1.6B+9.7%	$1.4B+18.2%	$1.2B-1.3%	$1.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.4B-39.7%	-$996.9M-7.3%	-$929.0M-65.8%	-$560.4M+10.2%	-$624.1M-247.8%	-$179.4M
Financing Cash Flow	-$192.7M+78.0%	-$874.9M-4.9%	-$834.4M-24.3%	-$671.1M-92.4%	-$348.9M+59.2%	-$854.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$488.1M	$0-100.0%	$1.9M	$0	$0-100.0%	$183.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$418.9M+4.6%	$400.4M-16.0%	$477.0M+26.2%	$377.8M-9.2%	$415.9M+26.5%	$328.8M-32.4%	$486.2M+27.9%	$380.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$49.0M+89.5%	-$467.3M-358.7%	-$101.9M+74.2%	-$395.3M+7.6%	-$427.9M-36.1%	-$314.3M-43.6%	-$218.8M-10.5%	-$198.0M
Financing Cash Flow	-$431.9M-540.5%	$98.1M+128.1%	-$348.6M-471.6%	$93.8M+360.5%	-$36.0M+93.3%	-$539.9M-124.7%	-$240.3M-250.4%	$159.8M
Dividends Paid	$250.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$198.5M-41.0%	$336.3M	N/A	N/A	$0	$0	$0	$0

AVB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	66.5%+0.9pp	65.5%+0.8pp	64.7%-0.9pp	65.6%+2.1pp	63.5%-0.5pp	64.0%
Net Margin	34.8%-2.4pp	37.1%+3.6pp	33.6%-10.3pp	43.8%+0.1pp	43.8%+7.8pp	36.0%
Return on Equity	9.1%+0.0pp	9.1%+1.2pp	7.9%-2.2pp	10.1%+0.9pp	9.2%+1.5pp	7.7%
Return on Assets	4.8%-0.4pp	5.1%+0.7pp	4.5%-1.1pp	5.6%+0.5pp	5.1%+0.7pp	4.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.80+0.1	0.680.0	0.68-0.1	0.740.0	0.74+0.0	0.71
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	67.2%+1.1pp	66.0%+0.3pp	65.7%-1.9pp	67.6%+1.0pp	66.5%+3.5pp	63.1%-2.4pp	65.5%-1.1pp	66.6%
Net Margin	42.3%+20.1pp	22.1%-27.6pp	49.7%+14.4pp	35.3%+3.6pp	31.7%-6.4pp	38.1%-12.6pp	50.7%+15.7pp	35.0%
Return on Equity	2.8%+1.4pp	1.5%-1.7pp	3.2%+0.9pp	2.3%+0.3pp	2.0%-0.4pp	2.4%-0.8pp	3.1%+1.0pp	2.2%
Return on Assets	1.5%+0.7pp	0.8%-1.0pp	1.7%+0.5pp	1.2%+0.1pp	1.1%-0.2pp	1.3%-0.4pp	1.8%+0.5pp	1.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.81+0.0	0.80+0.1	0.730.0	0.72+0.0	0.70+0.0	0.68-0.0	0.700.0	0.71
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Avalonbay Cmntys Inc's annual revenue?

Avalonbay Cmntys Inc (AVB) reported $3.0B in total revenue for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Avalonbay Cmntys Inc's revenue growing?

Avalonbay Cmntys Inc (AVB) revenue grew by 4.4% year-over-year, from $2.9B to $3.0B in fiscal year 2025.

Is Avalonbay Cmntys Inc profitable?

Yes, Avalonbay Cmntys Inc (AVB) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 34.8%.

What is Avalonbay Cmntys Inc's EBITDA?

Avalonbay Cmntys Inc (AVB) had EBITDA of $2.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Avalonbay Cmntys Inc have?

As of fiscal year 2025, Avalonbay Cmntys Inc (AVB) had $187.2M in cash and equivalents against $9.3B in long-term debt.

What is Avalonbay Cmntys Inc's operating margin?

Avalonbay Cmntys Inc (AVB) had an operating margin of 66.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Avalonbay Cmntys Inc's net profit margin?

Avalonbay Cmntys Inc (AVB) had a net profit margin of 34.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Avalonbay Cmntys Inc pay dividends?

Yes, Avalonbay Cmntys Inc (AVB) paid $7.00 per share in dividends during fiscal year 2025.

What is Avalonbay Cmntys Inc's return on equity (ROE)?

Avalonbay Cmntys Inc (AVB) has a return on equity of 9.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Avalonbay Cmntys Inc's operating cash flow?

Avalonbay Cmntys Inc (AVB) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Avalonbay Cmntys Inc's total assets?

Avalonbay Cmntys Inc (AVB) had $22.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Avalonbay Cmntys Inc buy back shares?

Yes, Avalonbay Cmntys Inc (AVB) spent $488.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Avalonbay Cmntys Inc have outstanding?

Avalonbay Cmntys Inc (AVB) had 140M shares outstanding as of fiscal year 2025.

What is Avalonbay Cmntys Inc's debt-to-equity ratio?

Avalonbay Cmntys Inc (AVB) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Avalonbay Cmntys Inc's return on assets (ROA)?

Avalonbay Cmntys Inc (AVB) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Avalonbay Cmntys Inc's Piotroski F-Score?

Avalonbay Cmntys Inc (AVB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Avalonbay Cmntys Inc's earnings high quality?

Avalonbay Cmntys Inc (AVB) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Avalonbay Cmntys Inc cover its interest payments?

Avalonbay Cmntys Inc (AVB) has an interest coverage ratio of 7.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Avalonbay Cmntys Inc?

Avalonbay Cmntys Inc (AVB) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.