American Homes 4 Rent (AMH) Financials

$36.10 +0.22 (+0.60%)

Closing price 03:59 PM Eastern

Extended Trading

$36.64 +0.55 (+1.51%)

As of 07:37 PM Eastern

Annual Income Statements for American Homes 4 Rent

This table shows American Homes 4 Rent's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-22	23	86	85	135	251	366	398
Consolidated Net Income / (Loss)	74	112	156	155	211	310	432	468
Net Income / (Loss) Continuing Operations	76	111	156	155	211	310	432	468
Total Pre-Tax Income	80	111	156	155	207	303	422	446
Total Operating Income	85	120	236	231	157	167	213	226
Total Gross Profit	536	585	611	632	717	826	901	973
Total Revenue	960	1,073	1,132	1,173	1,304	1,491	1,624	1,729
Operating Revenue	960	1,073	1,132	1,173	1,304	1,491	1,624	1,729
Total Cost of Revenue	425	487	521	540	587	665	723	755
Operating Cost of Revenue	425	487	521	540	587	665	723	755
Total Operating Expenses	450	465	376	401	560	659	688	747
Selling, General & Admin Expense	35	37	43	49	56	68	75	84
Depreciation Expense	297	319	329	343	373	427	457	477
Other Operating Expenses / (Income)	117	128	3.22	9.30	131	164	157	186
Total Other Income / (Expense), net	-5.01	-8.71	-79	-77	50	136	210	219
Interest Expense	-	1.45	128	117	-	0.00	0.00	6.32
Other Income / (Expense), net	-5.01	-7.27	48	40	50	136	210	226
Other Gains / (Losses), net	-6.56	-	-	-	3.99	6.87	9.80	22
Preferred Stock Dividends Declared	100	85	55	55	54	22	14	14
Net Income / (Loss) Attributable to Noncontrolling Interest	-4.51	4.17	15	14	21	37	52	56
Basic Earnings per Share	($0.08)	$0.08	$0.29	$0.28	$0.42	$0.72	$1.01	$1.08
Weighted Average Basic Shares Outstanding	264.25M	293.64M	299.42M	306.61M	324.25M	349.29M	362.02M	367.45M
Diluted Earnings per Share	($0.08)	$0.08	$0.29	$0.28	$0.41	$0.71	$1.01	$1.08
Weighted Average Diluted Shares Outstanding	264.25M	294.27M	299.92M	307.07M	325.52M	349.79M	362.48M	367.99M
Weighted Average Basic & Diluted Shares Outstanding	-	296.65M	300.80M	316.75M	348.25M	361.77M	366.13M	370.13M
Cash Dividends to Common per Share	$0.20	-	-	-	-	$0.72	$0.88	$1.04

This table shows American Homes 4 Rent's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	51	88	117	98	74	77	109	92	74	123
Consolidated Net Income / (Loss)	62	104	138	115	88	91	128	109	88	144
Net Income / (Loss) Continuing Operations	62	104	138	115	88	91	128	109	88	144
Total Pre-Tax Income	61	98	133	115	88	86	125	109	88	125
Total Operating Income	37	-16	48	85	87	-8.09	57	99	96	-25
Total Gross Profit	210	216	220	222	224	235	236	242	241	255
Total Revenue	392	381	398	396	422	409	424	423	445	437
Operating Revenue	392	381	398	396	422	409	424	423	445	437
Total Cost of Revenue	182	165	178	173	198	174	187	182	204	182
Operating Cost of Revenue	182	165	178	173	198	174	187	182	204	182
Total Operating Expenses	173	232	172	137	137	243	180	142	145	280
Selling, General & Admin Expense	17	15	18	20	18	18	22	22	19	21
Depreciation Expense	109	113	113	113	115	116	116	118	120	124
Other Operating Expenses / (Income)	47	104	41	4.18	3.40	109	42	2.94	6.51	135
Total Other Income / (Expense), net	24	114	85	30	0.82	94	68	9.13	-7.96	150
Interest Expense	-	-	0.00	35	34	-69	0.95	39	49	-82
Other Income / (Expense), net	24	51	85	65	35	25	69	48	41	68
Preferred Stock Dividends Declared	3.49	3.49	3.49	3.49	3.49	3.49	3.49	3.49	3.49	3.49
Net Income / (Loss) Attributable to Noncontrolling Interest	7.46	13	17	14	10	11	15	13	10	17
Basic Earnings per Share	$0.14	$0.26	$0.33	$0.27	$0.20	$0.21	$0.30	$0.25	$0.20	$0.33
Weighted Average Basic Shares Outstanding	348.94M	349.29M	360.35M	362.15M	362.43M	362.02M	366.51M	366.78M	366.98M	367.45M
Diluted Earnings per Share	$0.14	$0.25	$0.32	$0.27	$0.20	$0.22	$0.30	$0.25	$0.20	$0.33
Weighted Average Diluted Shares Outstanding	349.34M	349.79M	360.67M	362.48M	362.92M	362.48M	366.97M	367.31M	367.60M	367.99M
Weighted Average Basic & Diluted Shares Outstanding	353.44M	361.77M	361.78M	362.00M	362.06M	366.13M	366.32M	366.50M	369.51M	370.13M

This table details how cash moves in and out of American Homes 4 Rent's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-77	-12	-11	101	-73	26	3.90	128
Net Cash From Operating Activities	386	411	458	474	595	666	739	812
Net Cash From Continuing Operating Activities	386	411	480	478	595	666	739	812
Net Income / (Loss) Continuing Operations	76	112	156	155	211	310	432	468
Consolidated Net Income / (Loss)	76	112	156	155	211	310	432	468
Depreciation Expense	297	319	329	343	373	427	457	477
Amortization Expense	12	10	7.46	7.43	8.79	12	12	11
Non-Cash Adjustments To Reconcile Net Income	15	-0.23	-13	-28	-34	-107	-182	-186
Changes in Operating Assets and Liabilities, net	-15	-31	0.13	1.21	37	24	20	41
Net Cash From Investing Activities	-837	-674	-377	-643	-1,733	-1,426	-693	-826
Net Cash From Continuing Investing Activities	-837	-674	-399	326	-1,733	-1,426	-693	-826
Purchase of Property, Plant & Equipment	-140	-110	-99	-17	-1,020	-832	-174	-156
Acquisitions	-8.94	-6.58	-20	-	-29	-25	-7.69	-14
Sale of Property, Plant & Equipment	87	106	222	-	132	293	469	573
Sale and/or Maturity of Investments	-	-	0.00	358	59	102	48	117
Other Investing Activities, net	-775	-664	-502	-15	-875	-963	-1,028	-1,346
Net Cash From Financing Activities	384	256	-92	270	1,065	786	-42	143
Net Cash From Continuing Financing Activities	375	252	-92	270	1,065	786	-42	143
Repayment of Debt	-695	-605	-375	-23	-1,102	-871	-264	-1,467
Repurchase of Preferred Equity	-	-	0.00	0.00	-499	-155	0.00	0.00
Repurchase of Common Equity	-29	-43	0.00	-	-0.20	-0.20	-0.40	-0.26
Payment of Dividends	-93	-137	-126	-127	-207	-306	-379	-451
Issuance of Debt	227	902	398	-	2,147	1,497	200	1,994
Issuance of Common Equity	695	0.00	0.00	421	733	566	405	149
Other Financing Activities, net	0.55	20	11	-1.65	-6.68	55	-3.97	-82
Cash Interest Paid	101	105	113	110	96	116	128	128

This table details how cash moves in and out of American Homes 4 Rent's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	36	-40	191	-47	-119	-21	61	598	-564	32
Net Cash From Operating Activities	218	69	200	215	208	115	202	274	234	102
Net Cash From Continuing Operating Activities	218	69	200	215	208	115	202	274	234	102
Net Income / (Loss) Continuing Operations	62	104	138	115	88	91	128	109	88	144
Consolidated Net Income / (Loss)	62	104	138	115	88	91	128	109	88	144
Depreciation Expense	109	113	113	113	115	116	116	118	120	124
Amortization Expense	3.09	3.09	3.04	3.07	3.09	3.09	3.06	2.90	3.01	2.52
Non-Cash Adjustments To Reconcile Net Income	-18	-53	-80	-52	-28	-23	-57	-32	-21	-76
Changes in Operating Assets and Liabilities, net	62	-98	27	35	29	-72	12	77	44	-92
Net Cash From Investing Activities	-314	-158	-73	-165	-227	-227	-68	-40	-185	-533
Net Cash From Continuing Investing Activities	-314	-158	-73	-165	-227	-227	-68	-40	-185	-533
Purchase of Property, Plant & Equipment	-653	-70	-43	-39	-54	-38	-39	-39	-44	-33
Acquisitions	-11	-8.01	0.00	-3.72	-8.80	4.83	-1.12	-8.60	-5.83	1.34
Sale of Property, Plant & Equipment	50	129	185	127	72	85	156	124	103	190
Sale and/or Maturity of Investments	21	10	11	2.54	22	13	0.24	115	0.47	1.07
Other Investing Activities, net	279	-219	-225	-252	-259	-292	-184	-231	-238	-693
Net Cash From Financing Activities	132	49	63	-97	-99	91	-72	365	-613	463
Net Cash From Continuing Financing Activities	132	49	63	-97	-99	91	-72	365	-613	463
Repayment of Debt	-76	-5.71	-137	-6.23	-5.53	-116	-561	-9.30	-489	-408
Repurchase of Common Equity	-	-	0.00	-	-	-0.40	-0.03	-	-	-0.22
Payment of Dividends	-76	-77	-95	-95	-95	-95	-113	-112	-112	-113
Issuance of Debt	70	130	0.00	-	-	200	599	497	-	897
Issuance of Common Equity	187	1.61	298	3.55	0.87	102	35	2.03	0.42	112
Other Financing Activities, net	26	-0.00	-3.77	-0.04	-0.03	-0.12	-32	-13	-12	-26
Cash Interest Paid	40	27	40	25	38	25	38	20	51	18

This table presents American Homes 4 Rent's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2018	2019	2020	2021	2022	2023	2024
Total Assets	6,751	9,001	9,100	9,594	10,962	12,175	12,688	13,381
Total Current Assets	58	204	194	307	233	266	265	399
Cash & Equivalents	58	30	38	137	48	69	59	199
Restricted Cash	-	145	127	128	144	149	162	151
Accounts Receivable	-	29	30	42	42	48	43	48
Plant, Property, & Equipment, net	6,290	8,493	8,552	8,885	10,245	11,325	11,757	12,366
Plant, Property & Equipment, gross	6,706	9,669	10,014	10,639	12,317	13,711	14,477	15,415
Accumulated Depreciation	416	1,176	1,462	1,754	2,073	2,386	2,720	3,049
Total Noncurrent Assets	404	305	355	402	485	585	666	617
Long-Term Investments	-	-	68	93	122	107	114	159
Goodwill	121	120	120	120	120	120	120	120
Other Noncurrent Operating Assets	269	184	167	189	242	357	432	337
Total Liabilities & Shareholders' Equity	6,751	9,001	9,100	9,594	10,962	12,175	12,688	13,381
Total Liabilities	2,816	3,028	3,081	3,121	4,224	5,000	5,035	5,533
Total Current Liabilities	159	219	243	299	344	484	574	522
Accounts Payable	155	219	243	299	344	484	574	522
Total Noncurrent Liabilities	2,657	2,809	2,838	2,822	3,880	4,516	4,462	5,011
Long-Term Debt	2,524	2,804	2,833	2,817	3,880	4,516	4,462	5,011
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,935	5,974	6,019	6,472	6,738	7,175	7,653	7,849
Total Preferred & Common Equity	3,259	5,252	5,335	5,789	6,060	6,496	6,968	7,160
Preferred Stock	0.17	0.35	0.35	0.35	0.15	0.09	0.09	0.09
Total Common Equity	3,259	5,252	5,335	5,789	6,059	6,496	6,967	7,160
Common Stock	3,556	5,735	5,794	6,226	6,496	6,935	7,361	7,533
Retained Earnings	-297	-491	-465	-444	-439	-441	-395	-381
Accumulated Other Comprehensive Income / (Loss)	-0.10	7.39	6.66	5.84	1.81	1.33	0.84	7.85
Noncontrolling Interest	676	722	683	683	679	679	685	689

This table presents American Homes 4 Rent's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	12,099	12,420	12,522	12,559	12,761	13,304	12,844
Total Current Assets	308	458	408	296	328	925	368
Cash & Equivalents	97	256	200	70	125	718	162
Restricted Cash	160	153	162	173	158	163	155
Accounts Receivable	50	49	46	54	45	43	50
Plant, Property, & Equipment, net	11,219	11,368	11,501	11,628	11,806	11,726	11,823
Plant, Property & Equipment, gross	13,529	13,831	14,054	14,267	14,613	14,622	14,786
Accumulated Depreciation	2,310	2,463	2,553	2,639	2,807	2,897	2,962
Total Noncurrent Assets	572	594	614	635	627	653	654
Long-Term Investments	110	109	108	117	115	150	155
Goodwill	120	120	120	120	120	120	120
Other Noncurrent Operating Assets	341	365	385	398	392	383	378
Total Liabilities & Shareholders' Equity	12,099	12,420	12,522	12,559	12,761	13,304	12,844
Total Liabilities	4,956	4,902	4,972	5,009	5,056	5,592	5,149
Total Current Liabilities	567	520	594	634	553	599	630
Accounts Payable	567	520	594	634	553	599	630
Total Noncurrent Liabilities	4,389	4,382	4,378	4,375	4,503	4,993	4,519
Long-Term Debt	4,389	4,382	4,378	4,375	4,503	4,993	4,519
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,142	7,518	7,550	7,551	7,705	7,712	7,696
Total Preferred & Common Equity	6,467	6,834	6,864	6,865	7,017	7,025	7,011
Preferred Stock	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Total Common Equity	6,467	6,834	6,863	6,865	7,017	7,025	7,011
Common Stock	6,930	7,236	7,248	7,255	7,398	7,410	7,416
Retained Earnings	-464	-403	-385	-391	-382	-385	-407
Accumulated Other Comprehensive Income / (Loss)	1.46	1.21	1.09	0.97	0.72	0.60	2.76
Noncontrolling Interest	675	684	687	686	687	687	684

This table displays calculated financial ratios and metrics derived from American Homes 4 Rent's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	216.18%	-30.31%	0.00%	11.71%	5.53%	3.57%	11.20%	14.32%	8.93%	6.47%
EBITDA Growth	141.93%	36.65%	-16.11%	13.53%	40.50%	0.27%	-5.50%	26.04%	20.21%	5.56%
EBIT Growth	428.17%	69.99%	-46.62%	40.48%	152.09%	-4.28%	-24.02%	46.76%	39.31%	7.07%
NOPAT Growth	625.47%	119.90%	-42.30%	40.75%	96.48%	-1.81%	-32.20%	6.26%	27.48%	6.57%
Net Income Growth	-189.79%	110.89%	0.00%	52.66%	38.97%	-0.92%	35.99%	47.24%	39.39%	8.33%
EPS Growth	-17.65%	65.00%	0.00%	200.00%	262.50%	-3.45%	46.43%	73.17%	42.25%	6.93%
Operating Cash Flow Growth	20.97%	31.35%	0.00%	6.46%	11.44%	3.54%	25.54%	11.81%	10.99%	9.86%
Free Cash Flow Firm Growth	-318.13%	47.39%	825.72%	-210.23%	102.56%	-136.80%	-1,420.14%	26.56%	77.55%	-72.03%
Invested Capital Growth	48.21%	18.87%	-100.00%	0.00%	0.21%	3.61%	15.38%	10.29%	3.63%	4.85%
Revenue Q/Q Growth	119.37%	-48.01%	1.86%	0.00%	0.00%	0.00%	36.62%	2.96%	1.74%	1.64%
EBITDA Q/Q Growth	37.09%	-32.05%	52.41%	0.00%	85.28%	80.26%	-8.40%	12.25%	-1.74%	3.72%
EBIT Q/Q Growth	571.35%	3.03%	-56.30%	0.00%	0.00%	0.00%	-23.45%	27.12%	-4.25%	6.13%
NOPAT Q/Q Growth	628.62%	44.65%	-59.00%	0.00%	0.00%	0.00%	-30.57%	18.90%	3.91%	-7.05%
Net Income Q/Q Growth	-105.82%	118.04%	22.63%	0.00%	0.00%	0.00%	36.35%	15.87%	-2.89%	12.75%
EPS Q/Q Growth	-2.56%	44.00%	0.00%	0.00%	0.00%	0.00%	17.14%	16.39%	-2.88%	11.34%
Operating Cash Flow Q/Q Growth	6.26%	-50.76%	226.31%	0.00%	0.67%	1.98%	9.23%	-4.08%	6.73%	-1.59%
Free Cash Flow Firm Q/Q Growth	67.88%	-135.25%	56,188.23%	-1,188.41%	243.32%	62.31%	-48.34%	26.68%	-1.52%	-610.10%
Invested Capital Q/Q Growth	-38.73%	0.90%	-100.00%	2.47%	0.87%	1.98%	5.10%	1.81%	1.84%	5.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	55.85%	55.77%	54.56%	54.00%	53.93%	54.98%	55.40%	55.48%	56.31%
EBITDA Margin	26.92%	52.79%	40.53%	41.18%	54.83%	53.09%	45.11%	49.74%	54.89%	54.42%
Operating Margin	7.61%	16.80%	8.87%	11.18%	20.81%	19.73%	12.03%	11.18%	13.09%	13.10%
EBIT Margin	7.01%	17.10%	8.35%	10.50%	25.09%	23.19%	15.84%	20.34%	26.01%	26.16%
Profit (Net Income) Margin	-7.60%	1.19%	7.67%	10.48%	13.80%	13.20%	16.15%	20.80%	26.62%	27.08%
Tax Burden Percent	106.04%	174.01%	91.83%	101.09%	100.00%	100.00%	101.93%	102.26%	102.32%	104.99%
Interest Burden Percent	-102.31%	4.00%	100.00%	98.72%	55.01%	56.95%	100.00%	100.00%	100.00%	98.60%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.25%	2.11%	2.24%	2.79%	2.74%	2.64%	1.63%	1.54%	1.84%	1.88%
ROIC Less NNEP Spread (ROIC-NNEP)	-11.21%	-3.23%	1.37%	2.22%	-0.30%	-0.39%	3.41%	5.23%	7.12%	7.48%
Return on Net Nonoperating Assets (RNNOA)	-3.62%	-1.87%	0.00%	0.98%	-0.13%	-0.16%	1.56%	2.92%	3.99%	4.16%
Return on Equity (ROE)	-2.37%	0.24%	0.00%	3.76%	2.61%	2.48%	3.19%	4.46%	5.83%	6.04%
Cash Return on Invested Capital (CROIC)	-37.59%	-15.13%	202.24%	-197.21%	2.53%	-0.91%	-12.65%	-8.25%	-1.73%	-2.86%
Operating Return on Assets (OROA)	1.36%	2.02%	0.00%	2.50%	3.14%	2.91%	2.01%	2.62%	3.40%	3.47%
Return on Assets (ROA)	-1.48%	0.14%	0.00%	2.50%	1.73%	1.66%	2.05%	2.68%	3.48%	3.59%
Return on Common Equity (ROCE)	-1.96%	0.20%	0.00%	3.31%	2.30%	2.21%	2.86%	4.02%	5.29%	5.50%
Return on Equity Simple (ROE_SIMPLE)	-2.94%	0.25%	0.00%	2.14%	2.93%	2.67%	3.47%	4.77%	6.20%	6.54%
Net Operating Profit after Tax (NOPAT)	67	148	85	120	236	231	157	167	213	226
NOPAT Margin	5.32%	16.80%	8.87%	11.18%	20.81%	19.73%	12.03%	11.18%	13.09%	13.10%
Net Nonoperating Expense Percent (NNEP)	12.46%	5.34%	0.87%	0.57%	3.04%	3.03%	-1.78%	-3.70%	-5.28%	-5.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.43%	1.75%	1.76%
Cost of Revenue to Revenue	0.00%	44.15%	44.23%	45.44%	46.00%	46.07%	45.02%	44.60%	44.52%	43.69%
SG&A Expenses to Revenue	4.26%	3.76%	3.62%	3.41%	3.82%	4.14%	4.33%	4.57%	4.60%	4.84%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	92.39%	39.05%	46.90%	43.38%	33.19%	34.20%	42.94%	44.22%	42.39%	43.21%
Earnings before Interest and Taxes (EBIT)	88	150	80	113	284	272	207	303	422	452
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	340	464	389	442	621	622	588	741	891	941
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.00	1.10	0.00	1.03	1.37	1.53	2.26	1.55	1.82	1.93
Price to Tangible Book Value (P/TBV)	1.04	1.14	0.00	1.05	1.40	1.56	2.31	1.58	1.85	1.96
Price to Revenue (P/Rev)	2.59	5.26	5.92	5.02	6.44	7.53	10.52	6.77	7.80	8.00
Price to Earnings (P/E)	0.00	0.00	0.00	229.55	84.81	103.63	101.43	40.26	34.58	34.70
Dividend Yield	1.29%	1.01%	1.01%	1.10%	0.83%	0.72%	1.10%	2.52%	2.52%	2.78%
Earnings Yield	0.00%	0.00%	0.00%	0.44%	1.18%	0.96%	0.99%	2.48%	2.89%	2.88%
Enterprise Value to Invested Capital (EV/IC)	1.00	1.06	0.00	1.02	1.23	1.34	1.74	1.32	1.48	1.54
Enterprise Value to Revenue (EV/Rev)	5.08	9.15	5.92	8.15	9.34	10.22	13.78	10.04	10.76	11.00
Enterprise Value to EBITDA (EV/EBITDA)	18.89	17.33	14.61	19.78	17.03	19.24	30.55	20.19	19.61	20.22
Enterprise Value to EBIT (EV/EBIT)	72.55	53.52	70.90	77.56	37.22	44.06	86.98	49.37	41.37	42.05
Enterprise Value to NOPAT (EV/NOPAT)	95.50	54.46	66.74	72.86	44.86	51.76	114.54	89.78	82.23	83.97
Enterprise Value to Operating Cash Flow (EV/OCF)	30.20	28.84	14.73	21.27	23.09	25.26	30.19	22.49	23.66	23.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.74	0.00	48.61	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.59	0.00	0.47	0.47	0.44	0.58	0.63	0.58	0.64
Long-Term Debt to Equity	0.64	0.59	0.00	0.47	0.47	0.44	0.58	0.63	0.58	0.64
Financial Leverage	0.32	0.58	0.00	0.44	0.44	0.41	0.46	0.56	0.56	0.56
Leverage Ratio	1.60	1.67	0.00	1.51	1.51	1.50	1.56	1.66	1.68	1.68
Compound Leverage Factor	-1.64	0.07	0.00	1.49	0.83	0.85	1.56	1.66	1.68	1.66
Debt to Total Capital	39.08%	37.18%	0.00%	31.94%	32.01%	30.33%	36.54%	38.63%	36.83%	38.97%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	39.08%	37.18%	0.00%	31.94%	32.01%	30.33%	36.54%	38.63%	36.83%	38.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.46%	9.47%	0.00%	8.22%	7.72%	7.36%	6.39%	5.81%	5.66%	5.35%
Common Equity to Total Capital	50.45%	53.34%	0.00%	59.83%	60.27%	62.31%	57.06%	55.56%	57.51%	55.68%
Debt to EBITDA	7.43	6.30	0.00	6.35	4.56	4.53	6.60	6.09	5.01	5.33
Net Debt to EBITDA	7.26	5.76	0.00	5.95	4.19	3.95	6.06	5.65	4.63	4.79
Long-Term Debt to EBITDA	7.43	6.30	0.00	6.35	4.56	4.53	6.60	6.09	5.01	5.33
Debt to NOPAT	37.59	19.79	0.00	23.37	12.02	12.18	24.74	27.09	21.00	22.13
Net Debt to NOPAT	36.73	18.10	0.00	21.91	11.04	10.63	22.74	25.14	19.41	19.88
Long-Term Debt to NOPAT	37.59	19.79	0.00	23.37	12.02	12.18	24.74	27.09	21.00	22.13
Altman Z-Score	0.85	0.99	0.00	1.15	1.57	1.85	2.06	1.34	1.67	1.69
Noncontrolling Interest Sharing Ratio	17.22%	16.02%	0.00%	12.09%	11.72%	10.95%	10.32%	9.76%	9.20%	8.86%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.36	1.41	0.00	0.93	0.80	1.03	0.68	0.55	0.46	0.76
Quick Ratio	0.36	0.67	0.00	0.27	0.28	0.60	0.26	0.24	0.18	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,015	-1,060	7,695	-8,482	217	-80	-1,217	-893	-201	-345
Operating Cash Flow to CapEx	27.08%	102.50%	722.29%	10,691.70%	0.00%	2,794.08%	67.01%	123.37%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-11.27	-7.35	0.00	-5,861.87	1.70	-0.68	0.00	0.00	0.00	-54.58
Operating Cash Flow to Interest Expense	1.19	1.93	0.00	283.95	3.58	4.05	0.00	0.00	0.00	128.35
Operating Cash Flow Less CapEx to Interest Expense	-3.20	0.05	0.00	281.30	4.54	3.91	0.00	0.00	0.00	194.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.12	0.00	0.24	0.13	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	38.61	32.95	31.37	33.37	35.85	37.88
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.21	0.13	0.00	0.00	0.13	0.13	0.14	0.14	0.14	0.14
Accounts Payable Turnover	0.00	2.34	0.00	0.00	2.25	1.99	1.83	1.61	1.37	1.38
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	9.45	11.08	11.64	10.94	10.18	9.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	156.13	0.00	0.00	162.05	183.17	199.72	227.29	267.14	264.72
Cash Conversion Cycle (CCC)	0.00	-156.13	0.00	0.00	-152.60	-172.09	-188.09	-216.35	-256.96	-255.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,402	7,610	0.00	8,602	8,620	8,932	10,305	11,365	11,778	12,350
Invested Capital Turnover	0.24	0.13	0.25	0.25	0.13	0.13	0.14	0.14	0.14	0.14
Increase / (Decrease) in Invested Capital	2,082	1,208	-7,610	8,602	18	311	1,374	1,060	413	572
Enterprise Value (EV)	6,413	8,042	5,687	8,738	10,572	11,977	17,969	14,966	17,474	19,017
Market Capitalization	3,270	4,625	5,687	5,388	7,286	8,834	13,723	10,097	12,663	13,827
Book Value per Share	$15.66	$17.58	$0.00	$17.88	$17.74	$18.30	$18.12	$18.38	$19.24	$19.38
Tangible Book Value per Share	$15.08	$17.08	$0.00	$17.47	$17.34	$17.92	$17.76	$18.04	$18.91	$19.05
Total Capital	6,460	7,860	0.00	8,777	8,852	9,290	10,619	11,691	12,115	12,859
Total Debt	2,524	2,923	0.00	2,804	2,833	2,817	3,880	4,516	4,462	5,011
Total Long-Term Debt	2,524	2,923	0.00	2,804	2,833	2,817	3,880	4,516	4,462	5,011
Net Debt	2,467	2,672	0.00	2,628	2,601	2,459	3,567	4,191	4,126	4,501
Capital Expenditures (CapEx)	784	272	53	3.84	-122	17	888	539	-295	-417
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-159	-177	0.00	-190	-214	-257	-302	-437	-531	-473
Debt-free Net Working Capital (DFNWC)	-101	73	0.00	-15	-49	7.67	-110	-219	-309	-123
Net Working Capital (NWC)	-101	73	0.00	-15	-49	7.67	-110	-219	-309	-123
Net Nonoperating Expense (NNE)	163	137	12	7.50	79	77	-54	-143	-220	-242
Net Nonoperating Obligations (NNO)	2,467	2,672	0.00	2,628	2,601	2,459	3,567	4,191	4,126	4,501
Total Depreciation and Amortization (D&A)	251	314	309	329	337	351	382	438	469	488
Debt-free, Cash-free Net Working Capital to Revenue	-12.60%	-20.16%	0.00%	-17.73%	-18.86%	-21.95%	-23.16%	-29.29%	-32.70%	-27.38%
Debt-free Net Working Capital to Revenue	-8.02%	8.31%	0.00%	-1.40%	-4.37%	0.65%	-8.45%	-14.67%	-19.03%	-7.12%
Net Working Capital to Revenue	-8.02%	8.31%	0.00%	-1.40%	-4.37%	0.65%	-8.45%	-14.67%	-19.03%	-7.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.40)	($0.14)	$0.00	$0.00	$0.29	$0.28	$0.42	$0.72	$1.01	$1.08
Adjusted Weighted Average Basic Shares Outstanding	206.55M	243.64M	0.00	0.00	299.42M	306.61M	324.25M	349.29M	362.02M	367.45M
Adjusted Diluted Earnings per Share	($0.40)	($0.14)	$0.00	$0.00	$0.29	$0.28	$0.41	$0.71	$1.01	$1.08
Adjusted Weighted Average Diluted Shares Outstanding	206.55M	243.64M	0.00	0.00	299.92M	307.07M	325.52M	349.79M	362.48M	367.99M
Adjusted Basic & Diluted Earnings per Share	($0.40)	($0.14)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	210.60M	234.01M	0.00	0.00	300.80M	316.75M	348.25M	361.77M	366.13M	370.13M
Normalized Net Operating Profit after Tax (NOPAT)	67	103	60	71	165	162	110	117	149	159
Normalized NOPAT Margin	5.32%	11.76%	6.29%	6.65%	14.57%	13.81%	8.42%	7.83%	9.16%	9.17%
Pre Tax Income Margin	-7.17%	0.68%	8.35%	10.37%	13.80%	13.20%	15.84%	20.34%	26.01%	25.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.49	1.04	0.00	77.87	2.22	2.32	0.00	0.00	0.00	71.52
NOPAT to Interest Expense	0.38	1.02	0.00	82.89	1.84	1.98	0.00	0.00	0.00	35.82
EBIT Less CapEx to Interest Expense	-3.89	-0.84	0.00	75.21	3.18	2.18	0.00	0.00	0.00	137.53
NOPAT Less CapEx to Interest Expense	-4.01	-0.86	0.00	80.23	2.80	1.83	0.00	0.00	0.00	101.83
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-91.75%	955.08%	126.75%	121.51%	80.42%	81.75%	98.47%	98.84%	87.59%	96.29%
Augmented Payout Ratio	-151.59%	2,029.78%	166.66%	159.77%	80.42%	81.75%	98.56%	98.91%	87.68%	96.34%

This table displays calculated financial ratios and metrics derived from American Homes 4 Rent's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.33%	12.67%	11.68%	9.30%	7.68%	7.28%	6.50%	7.07%	5.54%	6.84%
EBITDA Growth	-1.87%	115.00%	24.37%	22.92%	38.77%	-10.44%	-1.74%	0.47%	7.83%	24.93%
EBIT Growth	-23.56%	220.77%	36.26%	37.40%	101.28%	-52.94%	-5.53%	-1.99%	11.50%	156.92%
NOPAT Growth	-47.66%	62.23%	-34.03%	16.59%	138.13%	49.73%	17.41%	16.93%	9.55%	-212.40%
Net Income Growth	27.14%	69.25%	96.67%	54.80%	42.86%	-12.38%	-6.97%	-5.96%	-0.51%	58.21%
EPS Growth	27.27%	66.67%	100.00%	68.75%	42.86%	-12.00%	-6.25%	-7.41%	0.00%	50.00%
Operating Cash Flow Growth	30.88%	-29.15%	26.28%	-2.29%	-4.63%	67.78%	0.66%	27.32%	12.46%	-11.38%
Free Cash Flow Firm Growth	-35.45%	24.00%	62.06%	78.30%	76.19%	60.86%	38.50%	67.45%	74.47%	-41.70%
Invested Capital Growth	13.86%	10.29%	6.07%	3.98%	3.60%	3.63%	3.76%	1.87%	1.52%	4.85%
Revenue Q/Q Growth	8.22%	-2.73%	4.40%	-0.54%	6.61%	-3.09%	3.65%	-0.01%	5.09%	-1.90%
EBITDA Q/Q Growth	-20.09%	-12.67%	64.39%	7.16%	-9.79%	-43.64%	80.36%	9.57%	-3.18%	-34.70%
EBIT Q/Q Growth	-44.36%	-41.86%	275.85%	13.01%	-18.49%	-86.41%	654.49%	17.24%	-7.28%	-68.68%
NOPAT Q/Q Growth	-49.74%	-143.89%	400.33%	76.00%	2.65%	-109.27%	801.39%	75.28%	-3.83%	-126.42%
Net Income Q/Q Growth	-17.29%	68.31%	32.67%	-16.18%	-23.67%	3.23%	40.86%	-15.27%	-19.25%	64.16%
EPS Q/Q Growth	-12.50%	78.57%	28.00%	-15.63%	-25.93%	10.00%	36.36%	-16.67%	-20.00%	65.00%
Operating Cash Flow Q/Q Growth	-1.12%	-68.44%	191.67%	7.35%	-3.49%	-44.48%	74.98%	35.79%	-14.76%	-56.25%
Free Cash Flow Firm Q/Q Growth	18.97%	18.60%	43.93%	41.33%	11.06%	-33.79%	11.90%	68.95%	30.24%	-642.49%
Invested Capital Q/Q Growth	1.31%	1.81%	0.15%	0.67%	0.94%	1.84%	0.27%	-1.16%	0.59%	5.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.58%	56.61%	55.28%	56.21%	53.09%	57.44%	55.77%	57.06%	54.16%	58.31%
EBITDA Margin	44.24%	39.72%	62.54%	67.38%	57.01%	33.16%	57.70%	63.23%	58.25%	38.77%
Operating Margin	9.36%	-4.22%	12.15%	21.49%	20.70%	-1.98%	13.39%	23.47%	21.48%	-5.79%
EBIT Margin	15.54%	9.29%	33.43%	37.99%	29.04%	4.07%	29.66%	34.78%	30.68%	9.80%
Profit (Net Income) Margin	15.75%	27.25%	34.62%	29.18%	20.89%	22.25%	30.24%	25.63%	19.69%	32.95%
Tax Burden Percent	101.35%	106.19%	103.56%	100.00%	100.00%	105.90%	102.75%	100.00%	100.00%	115.04%
Interest Burden Percent	100.00%	276.30%	100.00%	76.81%	71.93%	515.79%	99.24%	73.69%	64.18%	292.38%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.29%	-0.58%	1.68%	2.99%	2.91%	-0.28%	1.90%	3.40%	3.14%	-0.83%
ROIC Less NNEP Spread (ROIC-NNEP)	1.98%	2.51%	4.07%	3.76%	2.93%	2.10%	3.70%	3.64%	2.94%	3.09%
Return on Net Nonoperating Assets (RNNOA)	1.05%	1.40%	2.08%	2.06%	1.60%	1.18%	1.94%	1.87%	1.55%	1.72%
Return on Equity (ROE)	2.34%	0.82%	3.77%	5.06%	4.51%	0.90%	3.84%	5.28%	4.69%	0.89%
Cash Return on Invested Capital (CROIC)	-11.62%	-8.25%	-4.61%	-2.54%	-1.74%	-1.73%	-1.78%	0.18%	0.58%	-2.86%
Operating Return on Assets (OROA)	1.99%	1.20%	4.29%	4.88%	3.76%	0.53%	3.89%	4.52%	4.11%	1.30%
Return on Assets (ROA)	2.02%	3.51%	4.45%	3.75%	2.70%	2.91%	3.96%	3.33%	2.64%	4.37%
Return on Common Equity (ROCE)	2.11%	0.74%	3.42%	4.58%	4.09%	0.82%	3.49%	4.80%	4.27%	0.81%
Return on Equity Simple (ROE_SIMPLE)	4.14%	0.00%	5.53%	6.10%	6.48%	0.00%	6.02%	5.92%	5.92%	0.00%
Net Operating Profit after Tax (NOPAT)	37	-16	48	85	87	-8.09	57	99	96	-25
NOPAT Margin	9.36%	-4.22%	12.15%	21.49%	20.70%	-1.98%	13.39%	23.47%	21.48%	-5.79%
Net Nonoperating Expense Percent (NNEP)	-0.69%	-3.09%	-2.39%	-0.76%	-0.02%	-2.38%	-1.79%	-0.23%	0.20%	-3.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.14%	-	-	-	-0.07%	-	-	-	-0.20%
Cost of Revenue to Revenue	46.42%	43.39%	44.72%	43.79%	46.91%	42.56%	44.23%	42.94%	45.84%	41.69%
SG&A Expenses to Revenue	4.34%	3.92%	4.49%	5.04%	4.35%	4.52%	5.17%	5.12%	4.32%	4.76%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	44.22%	60.84%	43.13%	34.71%	32.39%	59.42%	42.38%	33.59%	32.68%	64.10%
Earnings before Interest and Taxes (EBIT)	61	35	133	150	122	17	126	147	137	43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	173	151	249	267	240	136	244	268	259	169
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.69	1.55	1.61	1.82	1.73	1.82	1.88	1.94	2.01	1.93
Price to Tangible Book Value (P/TBV)	1.72	1.58	1.64	1.85	1.76	1.85	1.92	1.97	2.04	1.96
Price to Revenue (P/Rev)	7.54	6.77	7.19	7.98	7.44	7.80	8.01	8.12	8.27	8.00
Price to Earnings (P/E)	51.66	40.26	35.25	35.30	31.48	34.58	36.92	38.65	39.99	34.70
Dividend Yield	2.04%	2.52%	2.50%	2.32%	2.56%	2.52%	2.52%	2.58%	2.60%	2.78%
Earnings Yield	1.94%	2.48%	2.84%	2.83%	3.18%	2.89%	2.71%	2.59%	2.50%	2.88%
Enterprise Value to Invested Capital (EV/IC)	1.40	1.32	1.37	1.49	1.43	1.48	1.53	1.56	1.60	1.54
Enterprise Value to Revenue (EV/Rev)	10.79	10.04	10.15	10.91	10.38	10.76	10.92	10.89	11.05	11.00
Enterprise Value to EBITDA (EV/EBITDA)	23.64	20.19	19.69	20.34	18.27	19.61	20.31	20.56	20.73	20.22
Enterprise Value to EBIT (EV/EBIT)	65.47	49.37	45.95	45.02	37.57	41.37	43.40	44.32	44.12	42.05
Enterprise Value to NOPAT (EV/NOPAT)	111.38	89.78	109.72	111.01	81.04	82.23	81.53	77.60	77.16	83.97
Enterprise Value to Operating Cash Flow (EV/OCF)	22.51	22.49	22.00	24.33	23.95	23.66	24.34	22.86	22.80	23.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	883.42	277.88	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.63	0.58	0.58	0.58	0.58	0.58	0.65	0.59	0.64
Long-Term Debt to Equity	0.61	0.63	0.58	0.58	0.58	0.58	0.58	0.65	0.59	0.64
Financial Leverage	0.53	0.56	0.51	0.55	0.55	0.56	0.52	0.52	0.53	0.56
Leverage Ratio	1.65	1.66	1.63	1.68	1.68	1.68	1.65	1.69	1.67	1.68
Compound Leverage Factor	1.65	4.59	1.63	1.29	1.21	8.65	1.64	1.25	1.07	4.92
Debt to Total Capital	38.06%	38.63%	36.82%	36.70%	36.69%	36.83%	36.89%	39.30%	37.00%	38.97%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	38.06%	38.63%	36.82%	36.70%	36.69%	36.83%	36.89%	39.30%	37.00%	38.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.85%	5.81%	5.75%	5.76%	5.75%	5.66%	5.63%	5.41%	5.60%	5.35%
Common Equity to Total Capital	56.08%	55.56%	57.43%	57.54%	57.56%	57.51%	57.48%	55.30%	57.40%	55.68%
Debt to EBITDA	6.65	6.09	5.55	5.21	4.82	5.01	5.08	5.62	4.98	5.33
Net Debt to EBITDA	6.09	5.65	4.89	4.65	4.43	4.63	4.63	4.46	4.46	4.79
Long-Term Debt to EBITDA	6.65	6.09	5.55	5.21	4.82	5.01	5.08	5.62	4.98	5.33
Debt to NOPAT	31.31	27.09	30.90	28.45	21.39	21.00	20.38	21.22	18.55	22.13
Net Debt to NOPAT	28.68	25.14	27.25	25.39	19.63	19.41	18.58	16.83	16.61	19.88
Long-Term Debt to NOPAT	31.31	27.09	30.90	28.45	21.39	21.00	20.38	21.22	18.55	22.13
Altman Z-Score	1.38	1.27	1.45	1.61	1.51	1.57	1.67	1.61	1.74	1.59
Noncontrolling Interest Sharing Ratio	9.85%	9.76%	9.31%	9.40%	9.26%	9.20%	9.01%	9.00%	8.99%	8.86%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.54	0.55	0.88	0.69	0.47	0.46	0.59	1.54	0.58	0.76
Quick Ratio	0.26	0.24	0.59	0.41	0.19	0.18	0.31	1.27	0.34	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,322	-1,076	-603	-354	-315	-421	-371	-115	-80	-597
Operating Cash Flow to CapEx	36.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-10.16	-9.16	0.00	-389.00	-2.97	-1.64	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	6.18	6.04	0.00	211.51	7.07	4.77	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	8.71	6.59	0.00	334.16	9.25	5.97	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	27.89	33.37	32.85	37.32	30.64	35.85	35.03	37.54	32.86	37.88
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.15	0.14
Accounts Payable Turnover	1.35	1.61	1.49	1.28	1.19	1.37	1.36	1.24	1.18	1.38
Days Sales Outstanding (DSO)	13.09	10.94	11.11	9.78	11.91	10.18	10.42	9.72	11.11	9.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	269.90	227.29	244.35	285.56	306.91	267.14	267.57	293.98	308.69	264.72
Cash Conversion Cycle (CCC)	-256.81	-216.35	-233.24	-275.78	-295.00	-256.96	-257.15	-284.26	-297.58	-255.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,163	11,365	11,382	11,458	11,566	11,778	11,810	11,673	11,742	12,350
Invested Capital Turnover	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.15	0.15	0.14
Increase / (Decrease) in Invested Capital	1,359	1,060	652	439	402	413	428	215	176	572
Enterprise Value (EV)	15,615	14,966	15,558	17,083	16,573	17,474	18,011	18,260	18,800	19,017
Market Capitalization	10,918	10,097	11,009	12,488	11,872	12,663	13,219	13,613	14,070	13,827
Book Value per Share	$18.56	$18.38	$18.89	$18.97	$18.96	$19.24	$19.15	$19.18	$19.13	$19.38
Tangible Book Value per Share	$18.22	$18.04	$18.56	$18.64	$18.63	$18.91	$18.82	$18.85	$18.80	$19.05
Total Capital	11,532	11,691	11,900	11,928	11,926	12,115	12,208	12,705	12,214	12,859
Total Debt	4,389	4,516	4,382	4,378	4,375	4,462	4,503	4,993	4,519	5,011
Total Long-Term Debt	4,389	4,516	4,382	4,378	4,375	4,462	4,503	4,993	4,519	5,011
Net Debt	4,021	4,191	3,864	3,908	4,015	4,126	4,105	3,961	4,046	4,501
Capital Expenditures (CapEx)	603	-59	-141	-88	-19	-47	-117	-84	-59	-157
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-517	-437	-471	-548	-580	-531	-508	-556	-580	-473
Debt-free Net Working Capital (DFNWC)	-259	-219	-62	-186	-337	-309	-225	326	-262	-123
Net Working Capital (NWC)	-259	-219	-62	-186	-337	-309	-225	326	-262	-123
Net Nonoperating Expense (NNE)	-25	-120	-89	-30	-0.82	-99	-71	-9.13	7.96	-169
Net Nonoperating Obligations (NNO)	4,021	4,191	3,864	3,908	4,015	4,126	4,105	3,961	4,046	4,501
Total Depreciation and Amortization (D&A)	112	116	116	116	118	119	119	121	123	127
Debt-free, Cash-free Net Working Capital to Revenue	-35.70%	-29.29%	-30.74%	-35.01%	-36.35%	-32.70%	-30.83%	-33.14%	-34.11%	-27.38%
Debt-free Net Working Capital to Revenue	-17.90%	-14.67%	-4.05%	-11.91%	-21.14%	-19.03%	-13.65%	19.42%	-15.42%	-7.12%
Net Working Capital to Revenue	-17.90%	-14.67%	-4.05%	-11.91%	-21.14%	-19.03%	-13.65%	19.42%	-15.42%	-7.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.26	$0.33	$0.27	$0.20	$0.21	$0.30	$0.25	$0.20	$0.33
Adjusted Weighted Average Basic Shares Outstanding	348.94M	349.29M	360.35M	362.15M	362.43M	362.02M	366.51M	366.78M	366.98M	367.45M
Adjusted Diluted Earnings per Share	$0.14	$0.25	$0.32	$0.27	$0.20	$0.22	$0.30	$0.25	$0.20	$0.33
Adjusted Weighted Average Diluted Shares Outstanding	349.34M	349.79M	360.67M	362.48M	362.92M	362.48M	366.97M	367.31M	367.60M	367.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	353.44M	361.77M	361.78M	362.00M	362.06M	366.13M	366.32M	366.50M	369.51M	370.13M
Normalized Net Operating Profit after Tax (NOPAT)	26	-11	34	60	61	-5.66	40	70	67	-18
Normalized NOPAT Margin	6.55%	-2.96%	8.50%	15.05%	14.49%	-1.39%	9.37%	16.43%	15.04%	-4.05%
Pre Tax Income Margin	15.54%	25.66%	33.43%	29.18%	20.89%	21.01%	29.43%	25.63%	19.69%	28.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	4.31	3.56	0.00	131.67	3.80	2.79	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	2.44	2.54	0.00	59.45	2.57	1.95	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	6.85	4.11	0.00	254.32	5.98	3.99	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	4.97	3.09	0.00	182.10	4.74	3.15	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	102.69%	98.84%	85.60%	81.55%	80.98%	87.59%	93.88%	99.71%	104.10%	96.29%
Augmented Payout Ratio	102.69%	98.91%	85.60%	81.55%	80.98%	87.68%	93.98%	99.82%	104.21%	96.34%

Frequently Asked Questions About American Homes 4 Rent's Financials

When does American Homes 4 Rent's financial year end?

According to the most recent income statement we have on file, American Homes 4 Rent's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has American Homes 4 Rent's net income changed over the last 7 years?

American Homes 4 Rent's net income appears to be on an upward trend, with a most recent value of $468.14 million in 2024, rising from $73.65 million in 2017. The previous period was $432.14 million in 2023.

What is American Homes 4 Rent's operating income?

American Homes 4 Rent's total operating income in 2024 was $226.47 million, based on the following breakdown:

Total Gross Profit: $973.49 million
Total Operating Expenses: $747.03 million

How has American Homes 4 Rent revenue changed over the last 7 years?

Over the last 7 years, American Homes 4 Rent's total revenue changed from $960.40 million in 2017 to $1.73 billion in 2024, a change of 80.0%.

How much debt does American Homes 4 Rent have?

American Homes 4 Rent's total liabilities were at $5.53 billion at the end of 2024, a 9.9% increase from 2023, and a 96.5% increase since 2015.

How much cash does American Homes 4 Rent have?

In the past 7 years, American Homes 4 Rent's cash and equivalents has ranged from $30.28 million in 2018 to $199.41 million in 2024, and is currently $199.41 million as of their latest financial filing in 2024.

How has American Homes 4 Rent's book value per share changed over the last 9 years?

Over the last 9 years, American Homes 4 Rent's book value per share changed from 15.66 in 2015 to 19.38 in 2024, a change of 23.7%.

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This page (NYSE:AMH) was last updated on 4/15/2025 by MarketBeat.com Staff

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American Homes 4 Rent (AMH) Financials

Frequently Asked Questions About American Homes 4 Rent's Financials

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American Homes 4 Rent (AMH) Financials

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