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Equity Residential (EQR) Financials

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$69.50 +0.57 (+0.83%)
Closing price 04/23/2025 03:59 PM Eastern
Extended Trading
$69.16 -0.34 (-0.50%)
As of 09:19 AM Eastern
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Annual Income Statements for Equity Residential

Annual Income Statements for Equity Residential

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
863 4,289 600 654 967 911 1,330 774 832 1,033
Consolidated Net Income / (Loss)
908 4,480 628 685 1,010 963 1,397 807 868 1,071
Net Income / (Loss) Continuing Operations
908 4,480 609 682 1,006 963 1,397 807 868 1,071
Total Pre-Tax Income
558 417 613 689 939 932 1,401 813 875 1,081
Total Operating Income
1,009 856 1,005 1,115 1,356 1,318 1,676 1,116 1,161 1,418
Total Gross Profit
2,266 2,019 2,064 2,148 2,254 2,131 1,613 2,251 2,359 2,450
Total Revenue
2,745 2,426 2,471 2,578 2,701 2,572 2,464 2,735 2,874 2,980
Operating Revenue
2,745 2,426 2,471 2,578 2,701 2,572 2,464 2,735 2,874 2,980
Total Cost of Revenue
479 407 408 429 447 441 851 484 515 530
Operating Cost of Revenue
479 407 408 429 447 441 851 484 515 530
Total Operating Expenses
921 -2,881 1,062 1,034 898 813 -62 1,135 1,199 1,032
Selling, General & Admin Expense
65 58 52 54 53 48 57 59 61 62
Depreciation Expense
766 706 744 786 831 821 838 882 889 952
Other Operating Expenses / (Income)
426 399 264 450 461 475 98 499 532 565
Other Special Charges / (Income)
-335 -4,044 - -257 -448 -532 -1,072 -304 -283 -547
Total Other Income / (Expense), net
-451 -439 -391 -426 -417 -386 -275 -303 -286 -337
Interest Expense
444 482 384 425 402 374 281 292 278 294
Interest & Investment Income
7.37 66 6.14 16 3.20 5.94 26 2.19 22 30
Other Income / (Expense), net
-14 -23 -14 -17 -18 -18 -19 -14 -29 -74
Income Tax Expense
0.92 1.61 0.48 0.88 -2.28 0.85 0.92 0.90 1.15 1.26
Other Gains / (Losses), net
15 21 -3.37 -5.40 65 31 -3.40 -5.03 -5.38 -8.97
Extraordinary Income / (Loss), net
- - - - - - 0.01 0.00 0.00 0.00
Preferred Stock Dividends Declared
6.84 3.09 3.09 3.09 3.09 3.09 3.09 3.09 3.09 3.06
Net Income / (Loss) Attributable to Noncontrolling Interest
38 188 23 25 36 49 64 30 33 35
Basic Earnings per Share
$2.37 $11.75 $1.64 $1.78 $2.61 $2.45 $3.56 $2.06 $2.20 $2.73
Weighted Average Basic Shares Outstanding
363.50M 365.00M 366.97M 368.05M 370.46M 371.79M 373.83M 376.21M 378.77M 378.80M
Diluted Earnings per Share
$2.36 $11.68 $1.63 $1.77 $2.60 $2.45 $3.54 $2.05 $2.20 $2.72
Weighted Average Diluted Shares Outstanding
380.62M 381.99M 382.68M 383.70M 386.33M 385.87M 388.09M 389.45M 390.90M 390.74M
Weighted Average Basic & Diluted Shares Outstanding
365.14M 367.10M 368.17M 369.93M 371.98M 372.66M 375.92M 378.60M 379.55M 379.71M
Cash Dividends to Common per Share
$2.21 $13.02 $2.02 $2.16 - - - $2.50 $2.65 $2.70

Quarterly Income Statements for Equity Residential

This table shows Equity Residential'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
322 158 211 138 172 311 294 177 143 419
Consolidated Net Income / (Loss)
335 165 220 145 181 322 305 184 149 434
Net Income / (Loss) Continuing Operations
335 165 220 145 181 322 305 182 147 436
Total Pre-Tax Income
336 167 222 146 183 324 307 186 150 438
Total Operating Income
414 242 0.00 0.00 0.00 1,161 0.00 0.00 0.00 1,418
Total Gross Profit
471 681 568 593 595 604 596 608 613 633
Total Revenue
695 700 705 717 724 728 731 734 748 767
Operating Revenue
695 700 705 717 724 728 731 734 748 767
Total Cost of Revenue
224 18 138 125 129 123 135 126 135 133
Operating Cost of Revenue
224 18 138 125 129 123 135 126 135 133
Total Operating Expenses
57 439 270 374 343 212 198 342 390 102
Selling, General & Admin Expense
13 12 16 19 14 12 16 19 15 13
Depreciation Expense
214 214 216 221 225 227 226 224 238 264
Other Operating Expenses / (Income)
26 213 138 134 131 129 144 139 137 144
Other Special Charges / (Income)
-197 0.02 -100 0.09 -27 -156 -188 -40 0.17 -319
Total Other Income / (Expense), net
-78 -75 -76 -72 -69 -68 -92 -80 -73 -93
Interest Expense
75 68 68 68 72 71 69 68 75 82
Interest & Investment Income
0.72 -2.65 1.54 2.13 7.63 11 9.33 1.33 16 3.83
Other Income / (Expense), net
-3.76 -4.47 -9.00 -6.56 -4.96 -8.90 -32 -13 -14 -15
Income Tax Expense
0.15 0.18 0.30 0.34 0.26 0.26 0.30 0.33 0.29 0.33
Other Gains / (Losses), net
-1.03 -1.58 -1.38 -1.22 -1.24 -1.53 -1.70 -2.74 -2.55 -1.98
Preferred Stock Dividends Declared
0.77 0.77 0.77 0.77 0.77 0.77 1.99 0.36 0.36 0.36
Net Income / (Loss) Attributable to Noncontrolling Interest
12 6.33 8.04 5.66 8.78 11 9.25 5.00 4.01 17
Basic Earnings per Share
$0.86 $0.42 $0.56 $0.37 $0.45 $0.82 $0.78 $0.47 $0.38 $1.10
Weighted Average Basic Shares Outstanding
375.85M 376.21M 378.34M 378.64M 378.85M 378.77M 378.81M 378.58M 378.76M 378.80M
Diluted Earnings per Share
$0.86 $0.41 $0.56 $0.37 $0.45 $0.82 $0.77 $0.47 $0.38 $1.10
Weighted Average Diluted Shares Outstanding
389.30M 389.45M 390.66M 391.19M 391.35M 390.90M 390.56M 390.54M 391.03M 390.74M
Weighted Average Basic & Diluted Shares Outstanding
377.92M 378.60M 378.90M 379.03M 379.72M 379.55M 378.97M 379.14M 379.43M 379.71M

Annual Cash Flow Statements for Equity Residential

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
-5.35 64 -118 16 0.69 -17 261 -223 2.82 20
Net Cash From Operating Activities
1,357 1,214 1,266 1,356 1,457 1,266 1,260 1,455 1,533 1,574
Net Cash From Continuing Operating Activities
1,357 1,214 1,266 1,356 1,457 1,266 1,260 1,455 1,533 1,574
Net Income / (Loss) Continuing Operations
908 4,480 628 685 1,010 963 1,397 807 868 1,071
Consolidated Net Income / (Loss)
908 4,480 628 685 1,010 963 1,397 807 868 1,071
Depreciation Expense
766 706 744 786 831 821 838 882 889 952
Amortization Expense
22 40 35 57 56 61 37 37 30 30
Non-Cash Adjustments To Reconcile Net Income
-303 -3,986 -126 -195 -467 -516 -1,035 -264 -256 -512
Changes in Operating Assets and Liabilities, net
-36 -26 -15 23 26 -63 24 -7.49 1.92 33
Net Cash From Investing Activities
-696 5,904 -594 -377 -772 664 -435 108 -410 -1,176
Net Cash From Continuing Investing Activities
-698 5,904 -594 -377 -772 669 -435 108 -412 -1,176
Purchase of Property, Plant & Equipment
-517 -384 -669 -897 -1,702 -205 -1,865 -338 -646 -1,899
Acquisitions
-23 -5.27 -6.03 -6.57 0.00 0.00 -80 -160 -2.80 -110
Purchase of Investments
- - 0.00 0.00 -0.27 -0.77 -168 -2.06 -2.50 0.00
Sale of Property, Plant & Equipment
505 6,825 385 692 1,065 1,114 1,708 720 374 960
Sale and/or Maturity of Investments
51 87 0.33 0.00 78 1.64 193 3.88 3.08 16
Other Investing Activities, net
-714 -618 -304 -165 -212 -240 -222 -116 -138 -144
Net Cash From Financing Activities
-666 -7,054 -790 -964 -684 -1,946 -565 -1,786 -1,120 -377
Net Cash From Continuing Financing Activities
-663 -7,054 -790 -964 -684 -1,946 -565 -1,786 -1,120 -376
Repayment of Debt
-7,964 -4,190 -7,159 -17,674 -22,526 -10,711 -7,714 -6,735 -5,852 -33,385
Repurchase of Preferred Equity
-13 - - - - - - 0.00 0.00 -20
Repurchase of Common Equity
-0.08 -0.31 -0.05 -0.03 -0.99 0.00 -0.43 -0.78 -49 -38
Payment of Dividends
-826 -4,998 -778 -824 -871 -931 -941 -1,015 -1,033 -1,058
Issuance of Debt
8,449 2,683 6,912 17,933 23,445 9,840 7,659 6,084 6,697 33,508
Issuance of Common Equity
4.40 3.69 3.87 4.00 10 4.93 5.66 144 3.53 4.11
Other Financing Activities, net
-314 -552 232 -403 -742 -149 426 -264 -886 614
Cash Interest Paid
437 482 360 358 342 321 253 268 249 241
Cash Income Taxes Paid
1.26 1.49 0.64 0.85 -0.59 -1.04 1.18 0.75 1.09 1.34

Quarterly Cash Flow Statements for Equity Residential

This table details how cash moves in and out of Equity Residential'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
2.82 16 82 -94 2.09 13 57 -58 -12 34
Net Cash From Operating Activities
429 335 393 353 443 344 421 397 401 354
Net Cash From Continuing Operating Activities
433 331 393 353 437 350 421 399 406 347
Net Income / (Loss) Continuing Operations
335 165 220 145 181 322 305 184 149 434
Consolidated Net Income / (Loss)
335 165 220 145 181 322 305 184 149 434
Depreciation Expense
214 214 216 221 225 227 226 224 238 264
Amortization Expense
12 7.30 7.09 7.20 8.25 7.02 7.02 7.02 8.69 7.28
Non-Cash Adjustments To Reconcile Net Income
-186 4.62 -88 14 -29 -152 -183 -20 3.12 -312
Changes in Operating Assets and Liabilities, net
58 -60 39 -35 52 -54 67 3.97 8.10 -46
Net Cash From Investing Activities
289 -136 44 -315 -197 59 136 -138 -1,361 187
Net Cash From Continuing Investing Activities
289 -136 44 -315 -197 57 136 -138 -1,361 187
Purchase of Property, Plant & Equipment
-60 -81 -56 -267 -233 -90 -75 -143 -1,335 -347
Acquisitions
-0.75 -110 -14 -12 25 -1.81 -7.81 -23 - -78
Sale of Property, Plant & Equipment
464 - 134 - 58 182 247 83 31 600
Sale and/or Maturity of Investments
0.15 0.29 0.46 0.01 2.50 0.12 0.02 7.46 1.39 7.58
Other Investing Activities, net
-115 57 -20 -34 -50 -34 -29 -62 -59 5.46
Net Cash From Financing Activities
-715 -183 -355 -132 -243 -390 -500 -317 948 -508
Net Cash From Continuing Financing Activities
-715 -183 -355 -132 -243 -390 -499 -318 948 -506
Repayment of Debt
-2,800 -965 -1,453 -875 -1,702 -1,822 -1,370 -2,401 -4,668 -24,946
Repurchase of Preferred Equity
- - 0.00 - - - -20 -1.44 - 1.44
Payment of Dividends
-244 -243 -248 -264 -259 -262 -263 -264 -264 -267
Issuance of Debt
2,327 906 1,337 1,068 2,561 1,731 1,187 2,346 5,874 24,102
Issuance of Common Equity
0.90 141 1.45 0.68 0.47 0.93 1.88 1.03 0.38 0.82
Other Financing Activities, net
1.48 -22 7.45 -62 -843 11 3.68 1.36 6.13 603
Cash Interest Paid
84 46 80 46 81 43 77 44 77 43
Cash Income Taxes Paid
0.04 0.02 0.35 0.56 0.12 0.06 0.41 0.47 0.22 0.24

Annual Balance Sheets for Equity Residential

This table presents Equity Residential'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 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets
23,110 20,704 20,339 20,394 21,173 20,287 21,169 20,218 20,035 20,834
Total Current Assets
98 219 51 47 46 100 360 137 140 160
Cash & Equivalents
42 77 51 47 46 43 124 54 51 62
Restricted Cash
56 142 - - - 57 236 83 89 98
Plant, Property, & Equipment, net
20,277 20,026 19,493 19,389 20,257 19,344 19,919 19,061 18,902 19,558
Plant, Property & Equipment, gross
25,182 25,386 25,533 26,085 27,534 27,203 28,273 28,089 28,713 29,971
Accumulated Depreciation
4,905 5,360 6,040 6,696 7,277 7,860 8,354 9,028 9,810 10,412
Total Noncurrent Assets
2,735 459 796 505 870 843 890 1,020 992 1,116
Long-Term Investments
68 60 58 58 52 53 127 279 282 387
Other Noncurrent Operating Assets
2,667 399 738 899 818 791 763 741 710 729
Total Liabilities & Shareholders' Equity
23,110 20,704 20,571 20,394 21,173 20,287 21,169 20,218 20,035 20,834
Total Liabilities
11,847 9,801 9,730 9,615 10,165 9,184 9,483 8,517 8,456 9,250
Total Current Liabilities
209 360 193 207 161 232 234 846 1,133 1,286
Short-Term Debt
- 20 - - - - - 130 409 544
Accounts Payable
- 147 - - 94 - - 96 87 99
Dividends Payable
209 192 193 207 - 232 234 245 259 263
Other Current Liabilities
- - - - - - - 309 312 305
Other Current Nonoperating Liabilities
- - - - 67 - - 66 66 74
Total Noncurrent Liabilities
11,638 9,380 9,537 9,409 10,004 8,952 9,250 7,672 7,323 7,964
Long-Term Debt
10,534 8,967 8,658 8,319 8,019 7,629 8,026 7,296 6,981 7,578
Other Noncurrent Operating Liabilities
1,104 413 879 1,090 1,985 1,323 1,223 376 342 386
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
567 442 367 379 463 339 499 318 289 339
Total Equity & Noncontrolling Interests
10,696 10,461 10,474 10,400 10,545 10,763 11,187 11,383 11,289 11,246
Total Preferred & Common Equity
10,470 10,229 10,242 10,173 10,316 10,526 10,955 11,173 11,086 11,045
Preferred Stock
37 37 37 37 37 37 37 37 37 17
Total Common Equity
10,433 10,192 10,205 10,136 10,278 10,488 10,918 11,136 11,049 11,027
Common Stock
8,576 8,762 8,890 8,939 8,969 9,132 9,125 9,480 9,606 9,616
Retained Earnings
2,009 1,544 1,404 1,262 1,386 1,400 1,827 1,659 1,437 1,408
Accumulated Other Comprehensive Income / (Loss)
-152 -114 -89 -65 -78 -44 -34 -2.55 5.70 4.21
Noncontrolling Interest
226 232 231 - 229 238 232 209 203 201

Quarterly Balance Sheets for Equity Residential

This table presents Equity Residential'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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Total Assets
20,265 20,218 20,103 20,146 20,109 20,035 19,895 19,780 20,926 20,834
Total Current Assets
121 137 219 125 127 140 197 138 127 160
Cash & Equivalents
45 54 133 36 39 51 45 38 29 62
Restricted Cash
77 83 86 89 87 89 152 100 98 98
Plant, Property, & Equipment, net
19,168 19,061 18,889 18,961 18,995 18,902 18,723 18,634 19,723 19,558
Plant, Property & Equipment, gross
27,982 28,089 28,096 28,389 28,629 28,713 28,701 28,798 30,110 29,971
Accumulated Depreciation
8,814 9,028 9,207 9,429 9,634 9,810 9,978 10,164 10,387 10,412
Total Noncurrent Assets
975 1,020 994 1,061 987 992 975 1,007 1,076 1,116
Long-Term Investments
256 279 292 305 313 282 289 342 360 387
Other Noncurrent Operating Assets
719 741 702 756 674 710 686 665 716 729
Total Liabilities & Shareholders' Equity
20,265 20,218 20,103 20,146 20,109 20,035 19,895 19,780 20,926 20,834
Total Liabilities
8,633 8,517 8,433 8,564 8,565 8,456 8,323 8,272 9,521 9,250
Total Current Liabilities
967 846 259 942 1,283 1,133 995 924 1,573 1,286
Short-Term Debt
190 130 - 184 498 409 226 171 787 544
Accounts Payable
176 96 - 118 165 87 146 114 166 99
Dividends Payable
243 245 259 259 260 259 264 264 263 263
Other Current Liabilities
310 309 - 314 313 312 310 309 306 305
Other Current Nonoperating Liabilities
50 66 - 66 48 66 49 66 51 74
Total Noncurrent Liabilities
7,666 7,672 8,174 7,622 7,283 7,323 7,328 7,349 7,948 7,964
Long-Term Debt
7,309 7,296 7,312 7,258 6,982 6,981 6,984 6,986 7,579 7,578
Other Noncurrent Operating Liabilities
357 376 861 364 301 342 344 362 369 386
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
371 318 324 355 278 289 298 328 352 339
Total Equity & Noncontrolling Interests
11,262 11,383 11,346 11,227 11,266 11,289 11,274 11,180 11,054 11,246
Total Preferred & Common Equity
11,045 11,173 11,137 11,024 11,062 11,086 11,068 10,976 10,854 11,045
Preferred Stock
37 37 37 37 37 37 17 17 17 17
Total Common Equity
11,007 11,136 11,100 10,987 11,025 11,049 11,051 10,959 10,837 11,027
Common Stock
9,271 9,480 9,492 9,476 9,593 9,606 9,608 9,594 9,588 9,616
Retained Earnings
1,737 1,659 1,619 1,506 1,427 1,437 1,437 1,358 1,245 1,408
Accumulated Other Comprehensive Income / (Loss)
-0.87 -2.55 -11 3.71 5.10 5.70 6.31 6.91 3.53 4.21
Noncontrolling Interest
217 209 209 203 204 203 206 204 200 201

Annual Metrics and Ratios for Equity Residential

This table displays calculated financial ratios and metrics derived from Equity Residential's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
4.98% -11.63% 1.88% 4.30% 4.77% -4.78% -4.19% 11.01% 5.07% 3.69%
EBITDA Growth
6.30% -11.47% 12.09% 9.65% 14.71% -1.94% 16.00% -20.14% 1.38% 13.53%
EBIT Growth
10.43% -16.31% 18.93% 10.75% 21.93% -2.80% 27.38% -33.45% 2.61% 18.85%
NOPAT Growth
9.67% -15.36% 17.70% 10.90% 22.12% -3.14% 27.18% -33.43% 3.97% 22.24%
Net Income Growth
37.85% 393.39% -85.97% 9.04% 47.36% -4.68% 45.11% -42.22% 7.62% 23.31%
EPS Growth
36.42% 394.92% -86.04% 8.59% 46.89% -5.77% 44.49% -42.09% 7.32% 23.64%
Operating Cash Flow Growth
2.46% -10.50% 4.26% 7.15% 7.42% -13.14% -0.42% 15.44% 5.36% 2.66%
Free Cash Flow Firm Growth
-18.46% 203.95% -46.36% -16.57% 23.39% -3.89% -31.52% 50.97% -15.66% -39.52%
Invested Capital Growth
0.35% -9.05% -2.58% -0.79% -1.05% -0.97% 3.44% -2.25% -0.79% 3.31%
Revenue Q/Q Growth
1.42% -3.87% 1.03% 0.83% 1.19% -2.66% 1.30% 2.04% 0.98% 1.34%
EBITDA Q/Q Growth
1.62% -3.62% 10.20% -6.82% 9.69% -2.48% 12.99% -16.71% 82.43% 14.21%
EBIT Q/Q Growth
3.92% -6.54% 16.75% -11.73% 15.53% -4.01% 20.88% -26.41% 420.38% 23.05%
NOPAT Q/Q Growth
3.74% -6.93% 17.44% -12.15% 16.73% -4.13% 20.55% -26.38% 378.95% 22.23%
Net Income Q/Q Growth
-1.45% 2.02% -21.52% -1.11% 21.54% -3.83% 27.12% -32.90% 22.05% 11.63%
EPS Q/Q Growth
-1.67% 1.83% -20.87% -1.67% 22.07% -3.92% 25.53% -32.57% 22.91% 11.48%
Operating Cash Flow Q/Q Growth
-1.20% 9.12% -6.78% 0.69% 3.61% -9.42% 4.20% 3.75% 0.64% 0.64%
Free Cash Flow Firm Q/Q Growth
-18.55% -4.95% 19.63% -93.90% 108.54% 9.33% -19.66% -23.62% 229.72% 75.65%
Invested Capital Q/Q Growth
-0.56% -0.19% -0.71% 0.00% -2.35% -3.30% -0.53% -0.12% -0.10% -0.52%
Profitability Metrics
- - - - - - - - - -
Gross Margin
82.54% 83.23% 83.51% 83.34% 83.45% 82.85% 65.48% 82.31% 82.10% 82.22%
EBITDA Margin
64.96% 65.07% 71.59% 75.26% 82.40% 84.85% 102.73% 73.91% 71.31% 78.07%
Operating Margin
36.77% 35.29% 40.65% 43.24% 50.22% 51.25% 68.01% 40.80% 40.38% 47.60%
EBIT Margin
36.27% 34.34% 40.09% 42.57% 49.54% 50.57% 67.23% 40.30% 39.36% 45.11%
Profit (Net Income) Margin
33.08% 184.69% 25.43% 26.58% 37.39% 37.43% 56.68% 29.50% 30.22% 35.94%
Tax Burden Percent
162.62% 1,075.37% 102.50% 99.48% 107.48% 103.23% 99.69% 99.27% 99.25% 99.05%
Interest Burden Percent
56.09% 50.01% 61.87% 62.76% 70.21% 71.70% 84.57% 73.74% 77.36% 80.42%
Effective Tax Rate
0.16% 0.39% 0.08% 0.13% -0.24% 0.09% 0.07% 0.11% 0.13% 0.12%
Return on Invested Capital (ROIC)
4.62% 4.09% 5.12% 5.78% 7.12% 6.97% 8.75% 5.79% 6.12% 7.39%
ROIC Less NNEP Spread (ROIC-NNEP)
3.68% 41.22% 0.82% 0.72% 2.86% 2.45% 5.16% 1.72% 2.14% 2.84%
Return on Net Nonoperating Assets (RNNOA)
3.46% 36.33% 0.66% 0.56% 2.15% 1.74% 3.51% 1.11% 1.34% 1.86%
Return on Equity (ROE)
8.08% 40.42% 5.78% 6.34% 9.27% 8.71% 12.26% 6.90% 7.46% 9.25%
Cash Return on Invested Capital (CROIC)
4.27% 13.57% 7.74% 6.57% 8.18% 7.94% 5.37% 8.07% 6.91% 4.13%
Operating Return on Assets (OROA)
4.32% 3.80% 4.83% 5.39% 6.44% 6.27% 7.99% 5.33% 5.62% 6.58%
Return on Assets (ROA)
3.94% 20.45% 3.06% 3.36% 4.86% 4.64% 6.74% 3.90% 4.32% 5.24%
Return on Common Equity (ROCE)
7.46% 37.61% 5.42% 5.96% 8.69% 8.18% 11.51% 6.51% 7.11% 8.81%
Return on Equity Simple (ROE_SIMPLE)
8.67% 43.80% 6.14% 6.74% 9.79% 9.14% 12.75% 7.22% 7.83% 9.70%
Net Operating Profit after Tax (NOPAT)
1,008 853 1,004 1,113 1,359 1,317 1,675 1,115 1,159 1,417
NOPAT Margin
36.71% 35.15% 40.61% 43.19% 50.34% 51.20% 67.97% 40.76% 40.33% 47.54%
Net Nonoperating Expense Percent (NNEP)
0.94% -37.13% 4.30% 5.06% 4.26% 4.51% 3.59% 4.08% 3.98% 4.55%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - 5.93% 6.21% 7.32%
Cost of Revenue to Revenue
17.46% 16.77% 16.49% 16.66% 16.55% 17.15% 34.52% 17.69% 17.90% 17.78%
SG&A Expenses to Revenue
2.36% 2.38% 2.11% 2.09% 1.95% 1.88% 2.29% 2.15% 2.11% 2.07%
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
33.57% -118.77% 42.96% 40.10% 33.24% 31.60% -2.54% 41.51% 41.71% 34.63%
Earnings before Interest and Taxes (EBIT)
995 833 991 1,097 1,338 1,300 1,657 1,102 1,131 1,344
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,783 1,578 1,769 1,940 2,225 2,182 2,531 2,021 2,049 2,327
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
1.81 1.77 1.82 1.96 2.46 1.85 2.81 1.84 2.02 2.45
Price to Tangible Book Value (P/TBV)
1.81 1.77 1.82 1.96 2.46 1.85 2.81 1.84 2.02 2.45
Price to Revenue (P/Rev)
6.86 7.44 7.50 7.72 9.37 7.53 12.46 7.50 7.77 9.05
Price to Earnings (P/E)
21.83 4.21 30.87 30.39 26.16 21.28 23.09 26.52 26.84 26.12
Dividend Yield
4.27% 20.29% 4.00% 4.00% 3.33% 4.63% 2.94% 4.60% 4.50% 3.78%
Earnings Yield
4.58% 23.77% 3.24% 3.29% 3.82% 4.70% 4.33% 3.77% 3.73% 3.83%
Enterprise Value to Invested Capital (EV/IC)
1.38 1.38 1.43 1.49 1.79 1.46 2.01 1.48 1.58 1.80
Enterprise Value to Revenue (EV/Rev)
10.94 11.32 11.22 11.06 12.57 10.68 15.83 10.27 10.38 11.78
Enterprise Value to EBITDA (EV/EBITDA)
16.85 17.40 15.67 14.70 15.26 12.59 15.41 13.90 14.56 15.09
Enterprise Value to EBIT (EV/EBIT)
30.17 32.97 27.98 25.99 25.38 21.12 23.55 25.49 26.38 26.11
Enterprise Value to NOPAT (EV/NOPAT)
29.81 32.21 27.62 25.62 24.98 20.86 23.30 25.21 25.75 24.78
Enterprise Value to Operating Cash Flow (EV/OCF)
22.14 22.62 21.90 21.03 23.30 21.70 30.96 19.32 19.47 22.31
Enterprise Value to Free Cash Flow (EV/FCFF)
32.28 9.71 18.27 22.53 21.74 18.30 37.96 18.11 22.80 44.35
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.94 0.82 0.80 0.77 0.73 0.69 0.69 0.63 0.64 0.70
Long-Term Debt to Equity
0.94 0.82 0.80 0.77 0.73 0.69 0.69 0.62 0.60 0.65
Financial Leverage
0.94 0.88 0.80 0.78 0.75 0.71 0.68 0.65 0.63 0.66
Leverage Ratio
2.05 1.98 1.89 1.88 1.91 1.88 1.82 1.77 1.73 1.76
Compound Leverage Factor
1.15 0.99 1.17 1.18 1.34 1.34 1.54 1.31 1.34 1.42
Debt to Total Capital
48.33% 45.18% 44.40% 43.56% 42.15% 40.73% 40.72% 38.82% 38.96% 41.21%
Short-Term Debt to Total Capital
0.00% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.68% 2.16% 2.76%
Long-Term Debt to Total Capital
48.33% 45.08% 44.40% 43.56% 42.15% 40.73% 40.72% 38.14% 36.80% 38.46%
Preferred Equity to Total Capital
0.17% 0.19% 0.19% 0.20% 0.20% 0.20% 0.19% 0.19% 0.20% 0.09%
Noncontrolling Interests to Total Capital
3.64% 3.39% 3.07% 1.99% 3.64% 3.08% 3.71% 2.76% 2.60% 2.74%
Common Equity to Total Capital
47.86% 51.24% 52.34% 53.07% 54.02% 55.99% 55.38% 58.22% 58.25% 55.96%
Debt to EBITDA
5.91 5.69 4.89 4.29 3.60 3.50 3.17 3.67 3.61 3.49
Net Debt to EBITDA
5.81 5.52 4.83 4.23 3.56 3.43 2.98 3.47 3.40 3.26
Long-Term Debt to EBITDA
5.91 5.68 4.89 4.29 3.60 3.50 3.17 3.61 3.41 3.26
Debt to NOPAT
10.45 10.54 8.63 7.47 5.90 5.79 4.79 6.66 6.38 5.73
Net Debt to NOPAT
10.29 10.21 8.52 7.38 5.83 5.68 4.50 6.29 6.01 5.35
Long-Term Debt to NOPAT
10.45 10.52 8.63 7.47 5.90 5.79 4.79 6.54 6.02 5.35
Altman Z-Score
1.33 1.45 1.51 1.62 1.91 1.69 2.45 1.83 1.96 2.14
Noncontrolling Interest Sharing Ratio
7.65% 6.95% 6.19% 5.91% 6.30% 6.08% 6.07% 5.70% 4.70% 4.69%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
0.47 0.61 0.26 0.23 0.28 0.43 1.54 0.16 0.12 0.12
Quick Ratio
0.20 0.21 0.26 0.23 0.28 0.18 0.53 0.06 0.04 0.05
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
931 2,829 1,517 1,266 1,562 1,501 1,028 1,552 1,309 792
Operating Cash Flow to CapEx
10,688.84% 0.00% 445.05% 661.39% 228.50% 0.00% 802.16% 0.00% 564.21% 167.60%
Free Cash Flow to Firm to Interest Expense
2.09 5.87 3.95 2.98 3.89 4.01 3.66 5.32 4.70 2.70
Operating Cash Flow to Interest Expense
3.05 2.52 3.30 3.19 3.63 3.38 4.48 4.99 5.50 5.36
Operating Cash Flow Less CapEx to Interest Expense
3.02 15.87 2.56 2.71 2.04 5.81 3.92 6.30 4.53 2.16
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.12 0.11 0.12 0.13 0.13 0.12 0.12 0.13 0.14 0.15
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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
0.13 0.12 0.13 0.13 0.14 0.13 0.13 0.14 0.15 0.16
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.61 5.67
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65.05 64.33
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -65.05 -64.33
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
21,840 19,864 19,351 19,198 18,996 18,812 19,458 19,021 18,872 19,497
Invested Capital Turnover
0.13 0.12 0.13 0.13 0.14 0.14 0.13 0.14 0.15 0.16
Increase / (Decrease) in Invested Capital
77 -1,976 -513 -153 -202 -184 647 -437 -150 625
Enterprise Value (EV)
30,039 27,466 27,718 28,519 33,953 27,466 39,017 28,099 29,841 35,104
Market Capitalization
18,841 18,047 18,534 19,889 25,303 19,375 30,710 20,525 22,343 26,972
Book Value per Share
$28.64 $27.87 $27.77 $27.54 $27.68 $28.18 $29.11 $29.47 $29.10 $29.06
Tangible Book Value per Share
$28.64 $27.87 $27.77 $27.54 $27.68 $28.18 $29.11 $29.47 $29.10 $29.06
Total Capital
21,797 19,890 19,498 19,098 19,027 18,732 19,713 19,127 18,969 19,706
Total Debt
10,534 8,987 8,658 8,319 8,019 7,629 8,026 7,426 7,390 8,122
Total Long-Term Debt
10,534 8,967 8,658 8,319 8,019 7,629 8,026 7,296 6,981 7,578
Net Debt
10,368 8,708 8,549 8,213 7,921 7,477 7,539 7,010 6,968 7,575
Capital Expenditures (CapEx)
13 -6,441 284 205 638 -909 157 -382 272 939
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-209 -340 -193 -207 -161 -232 -234 -716 -724 -742
Debt-free Net Working Capital (DFNWC)
-111 -121 -142 -159 -115 -133 127 -579 -584 -582
Net Working Capital (NWC)
-111 -141 -142 -159 -115 -133 127 -708 -993 -1,125
Net Nonoperating Expense (NNE)
100 -3,627 375 428 350 354 278 308 291 346
Net Nonoperating Obligations (NNO)
10,577 8,961 8,510 8,420 7,988 7,709 7,772 7,320 7,293 7,913
Total Depreciation and Amortization (D&A)
788 745 778 843 887 882 875 919 918 982
Debt-free, Cash-free Net Working Capital to Revenue
-7.63% -14.01% -7.80% -8.02% -5.97% -9.03% -9.48% -26.17% -25.19% -24.90%
Debt-free Net Working Capital to Revenue
-4.05% -4.98% -5.75% -6.17% -4.27% -5.15% 5.14% -21.15% -20.32% -19.52%
Net Working Capital to Revenue
-4.05% -5.80% -5.75% -6.17% -4.27% -5.15% 5.14% -25.90% -34.56% -37.76%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$2.37 $11.75 $1.64 $1.78 $2.61 $2.45 $3.56 $2.06 $2.20 $2.73
Adjusted Weighted Average Basic Shares Outstanding
363.50M 365.00M 366.97M 368.05M 370.46M 371.79M 373.83M 376.21M 378.77M 378.80M
Adjusted Diluted Earnings per Share
$2.36 $11.68 $1.63 $1.77 $2.60 $2.45 $3.54 $2.05 $2.20 $2.72
Adjusted Weighted Average Diluted Shares Outstanding
380.62M 381.99M 382.68M 383.70M 386.33M 385.87M 388.09M 389.45M 390.90M 390.74M
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
365.14M 367.10M 368.17M 369.93M 371.98M 372.66M 375.92M 378.60M 379.55M 379.71M
Normalized Net Operating Profit after Tax (NOPAT)
673 -3,176 1,005 857 636 785 620 811 877 871
Normalized NOPAT Margin
24.52% -130.91% 40.68% 33.26% 23.55% 30.54% 25.16% 29.64% 30.51% 29.22%
Pre Tax Income Margin
20.34% 17.17% 24.81% 26.72% 34.79% 36.26% 56.86% 29.72% 30.45% 36.28%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
2.24 1.73 2.58 2.58 3.33 3.48 5.89 3.78 4.06 4.58
NOPAT to Interest Expense
2.27 1.77 2.61 2.62 3.38 3.52 5.96 3.82 4.16 4.83
EBIT Less CapEx to Interest Expense
2.21 15.08 1.84 2.10 1.74 5.91 5.33 5.09 3.09 1.38
NOPAT Less CapEx to Interest Expense
2.24 15.12 1.87 2.14 1.80 5.95 5.40 5.13 3.19 1.63
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
90.92% 111.57% 123.82% 120.25% 86.25% 96.74% 67.35% 125.78% 118.94% 98.80%
Augmented Payout Ratio
90.92% 111.58% 123.83% 120.26% 86.35% 96.74% 67.38% 125.87% 124.59% 102.39%

Quarterly Metrics and Ratios for Equity Residential

This table displays calculated financial ratios and metrics derived from Equity Residential'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
11.54% 8.46% 7.92% 4.41% 4.17% 3.97% 3.65% 2.35% 3.35% 5.40%
EBITDA Growth
-14.32% -46.89% -44.51% -58.93% -64.15% 201.54% -6.05% -1.78% 2.04% 20.89%
EBIT Growth
-20.82% -62.45% -106.13% -102.13% -101.21% 384.12% -252.84% -103.92% -181.79% 21.87%
NOPAT Growth
-20.61% -62.27% -100.00% -100.00% -100.00% 378.99% 0.00% 0.00% 0.00% 22.23%
Net Income Growth
-25.07% -70.52% 198.21% -37.74% -45.91% 94.90% 38.61% 26.71% -18.08% 34.63%
EPS Growth
-25.22% -70.71% 194.74% -37.29% -47.67% 100.00% 37.50% 27.03% -15.56% 34.15%
Operating Cash Flow Growth
6.78% 18.64% 6.85% 9.26% 3.07% 2.91% 7.06% 12.54% -9.29% 2.89%
Free Cash Flow Firm Growth
126.30% 13,165.79% 209.53% 266.94% -83.36% 92.80% -85.09% -29.10% -557.36% -39.51%
Invested Capital Growth
-2.64% -2.25% -4.15% -2.95% -0.81% -0.79% -0.65% -2.15% 3.75% 3.31%
Revenue Q/Q Growth
1.17% 0.66% 0.77% 1.73% 0.94% 0.47% 0.46% 0.46% 1.93% 2.46%
EBITDA Q/Q Growth
17.66% -27.75% -53.44% 3.77% 2.72% 507.61% -82.27% 8.49% 6.71% 619.89%
EBIT Q/Q Growth
33.39% -42.01% -103.78% 27.03% 24.47% 23,328.78% -103.53% 57.83% -4.38% 10,146.09%
NOPAT Q/Q Growth
33.69% -41.49% -100.00% 0.00% 0.00% 0.00% -100.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth
44.05% -50.66% 33.09% -34.17% 25.14% 77.77% -5.35% -39.82% -19.09% 192.14%
EPS Q/Q Growth
45.76% -52.33% 36.59% -33.93% 21.62% 82.22% -6.10% -38.96% -19.15% 189.47%
Operating Cash Flow Q/Q Growth
33.00% -22.09% 17.56% -10.32% 25.47% -22.21% 22.30% -5.72% 1.13% -11.76%
Free Cash Flow Firm Q/Q Growth
370.73% -27.07% 19.52% -29.26% -73.02% 745.19% -88.56% 236.47% -274.05% 211.79%
Invested Capital Q/Q Growth
-2.31% -0.12% -1.53% 1.02% -0.16% -0.10% -1.39% -0.51% 5.86% -0.52%
Profitability Metrics
- - - - - - - - - -
Gross Margin
67.72% 97.40% 80.49% 82.61% 82.17% 83.07% 81.58% 82.77% 81.93% 82.60%
EBITDA Margin
91.49% 65.67% 30.34% 30.95% 31.49% 190.45% 27.50% 29.70% 31.09% 218.44%
Operating Margin
59.56% 34.64% 0.00% 0.00% 0.00% 159.53% 0.00% 0.00% 0.00% 184.99%
EBIT Margin
59.02% 34.00% -1.28% -0.92% -0.68% 158.31% -4.34% -1.82% -1.87% 183.04%
Profit (Net Income) Margin
48.22% 23.63% 31.21% 20.20% 25.04% 44.30% 41.74% 25.00% 19.85% 56.58%
Tax Burden Percent
99.65% 98.95% 99.24% 98.94% 99.18% 99.45% 99.35% 98.92% 98.81% 98.99%
Interest Burden Percent
81.98% 70.24% -2,465.27% -2,230.67% -3,686.69% 28.14% -967.40% -1,386.33% -1,075.80% 31.23%
Effective Tax Rate
0.05% 0.10% 0.13% 0.23% 0.14% 0.08% 0.10% 0.18% 0.19% 0.08%
Return on Invested Capital (ROIC)
8.27% 4.92% 0.00% 0.00% 0.00% 24.18% 0.00% 0.00% 0.00% 28.72%
ROIC Less NNEP Spread (ROIC-NNEP)
7.26% 3.90% 2.92% 1.89% 2.46% 12.72% 4.33% 2.56% 1.91% 15.78%
Return on Net Nonoperating Assets (RNNOA)
4.95% 2.52% 1.90% 1.26% 1.56% 7.98% 2.62% 1.59% 1.29% 10.36%
Return on Equity (ROE)
13.21% 7.44% 1.90% 1.26% 1.56% 32.16% 2.62% 1.59% 1.29% 39.07%
Cash Return on Invested Capital (CROIC)
10.53% 8.07% 9.29% 6.40% 2.09% 6.91% 6.86% 8.37% 2.34% 4.13%
Operating Return on Assets (OROA)
7.73% 4.49% -0.17% -0.13% -0.10% 22.61% -0.63% -0.27% -0.27% 26.69%
Return on Assets (ROA)
6.32% 3.12% 4.25% 2.79% 3.53% 6.33% 6.05% 3.65% 2.84% 8.25%
Return on Common Equity (ROCE)
12.45% 7.01% 1.79% 1.19% 1.49% 30.65% 2.50% 1.51% 1.23% 37.24%
Return on Equity Simple (ROE_SIMPLE)
10.89% 0.00% 8.56% 7.85% 6.43% 0.00% 8.61% 9.04% 8.84% 0.00%
Net Operating Profit after Tax (NOPAT)
414 242 0.00 0.00 0.00 1,160 0.00 0.00 0.00 1,417
NOPAT Margin
59.53% 34.60% 0.00% 0.00% 0.00% 159.40% 0.00% 0.00% 0.00% 184.85%
Net Nonoperating Expense Percent (NNEP)
1.01% 1.02% -2.92% -1.89% -2.46% 11.46% -4.33% -2.56% -1.91% 12.94%
Return On Investment Capital (ROIC_SIMPLE)
- 1.29% - - - 6.21% - - - 7.32%
Cost of Revenue to Revenue
32.28% 2.61% 19.51% 17.39% 17.83% 16.93% 18.42% 17.23% 18.07% 17.40%
SG&A Expenses to Revenue
1.92% 1.67% 2.29% 2.63% 1.95% 1.59% 2.15% 2.54% 1.94% 1.66%
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
8.15% 62.76% 38.28% 52.15% 47.36% 29.12% 27.04% 46.62% 52.12% 13.29%
Earnings before Interest and Taxes (EBIT)
410 238 -9.00 -6.56 -4.96 1,152 -32 -13 -14 1,404
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
636 459 214 222 228 1,385 201 218 233 1,675
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
2.13 1.84 1.94 2.18 1.94 2.02 2.15 2.37 2.61 2.45
Price to Tangible Book Value (P/TBV)
2.13 1.84 1.94 2.18 1.94 2.02 2.15 2.37 2.61 2.45
Price to Revenue (P/Rev)
8.75 7.50 7.73 8.51 7.51 7.77 8.18 8.92 9.60 9.05
Price to Earnings (P/E)
20.54 26.52 23.55 28.86 31.46 26.84 25.94 27.29 30.52 26.12
Dividend Yield
3.97% 4.60% 4.46% 4.07% 4.63% 4.50% 4.26% 3.88% 3.61% 3.78%
Earnings Yield
4.87% 3.77% 4.25% 3.46% 3.18% 3.73% 3.86% 3.66% 3.28% 3.83%
Enterprise Value to Invested Capital (EV/IC)
1.64 1.48 1.54 1.67 1.53 1.58 1.66 1.80 1.87 1.80
Enterprise Value to Revenue (EV/Rev)
11.64 10.27 10.38 11.21 10.17 10.38 10.68 11.40 12.47 11.78
Enterprise Value to EBITDA (EV/EBITDA)
12.85 13.90 15.64 20.62 25.76 14.56 15.21 16.36 18.00 15.09
Enterprise Value to EBIT (EV/EBIT)
20.83 25.49 30.55 49.91 133.14 26.38 27.95 30.18 33.57 26.11
Enterprise Value to NOPAT (EV/NOPAT)
20.60 25.21 29.96 48.15 119.59 25.75 26.72 28.68 31.64 24.78
Enterprise Value to Operating Cash Flow (EV/OCF)
22.25 19.32 19.54 20.91 19.00 19.47 19.85 20.72 23.46 22.31
Enterprise Value to Free Cash Flow (EV/FCFF)
15.36 18.11 16.28 25.67 72.91 22.80 24.20 21.23 81.39 44.35
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.64 0.63 0.63 0.64 0.65 0.64 0.62 0.62 0.73 0.70
Long-Term Debt to Equity
0.63 0.62 0.63 0.63 0.60 0.60 0.60 0.61 0.66 0.65
Financial Leverage
0.68 0.65 0.65 0.66 0.64 0.63 0.61 0.62 0.68 0.66
Leverage Ratio
1.78 1.77 1.76 1.76 1.74 1.73 1.72 1.73 1.79 1.76
Compound Leverage Factor
1.46 1.24 -43.49 -39.35 -64.23 0.49 -16.65 -23.97 -19.24 0.55
Debt to Total Capital
39.20% 38.82% 38.52% 39.12% 39.32% 38.96% 38.39% 38.35% 42.31% 41.21%
Short-Term Debt to Total Capital
0.99% 0.68% 0.00% 0.97% 2.62% 2.16% 1.20% 0.92% 3.98% 2.76%
Long-Term Debt to Total Capital
38.20% 38.14% 38.52% 38.15% 36.70% 36.80% 37.18% 37.43% 38.33% 38.46%
Preferred Equity to Total Capital
0.19% 0.19% 0.20% 0.20% 0.20% 0.20% 0.09% 0.09% 0.09% 0.09%
Noncontrolling Interests to Total Capital
3.07% 2.76% 2.81% 2.93% 2.53% 2.60% 2.69% 2.85% 2.79% 2.74%
Common Equity to Total Capital
57.54% 58.22% 58.48% 57.75% 57.95% 58.25% 58.84% 58.71% 54.81% 55.96%
Debt to EBITDA
3.09 3.67 3.95 4.86 6.66 3.61 3.54 3.52 4.11 3.49
Net Debt to EBITDA
2.93 3.47 3.68 4.58 6.27 3.40 3.30 3.29 3.87 3.26
Long-Term Debt to EBITDA
3.01 3.61 3.95 4.74 6.21 3.41 3.43 3.44 3.72 3.26
Debt to NOPAT
4.95 6.66 7.57 11.35 30.91 6.38 6.22 6.17 7.22 5.73
Net Debt to NOPAT
4.70 6.29 7.04 10.70 29.09 6.01 5.80 5.76 6.80 5.35
Long-Term Debt to NOPAT
4.83 6.54 7.57 11.07 28.85 6.02 6.02 6.03 6.54 5.35
Altman Z-Score
1.90 1.69 1.78 1.87 1.67 1.96 1.90 2.08 1.92 2.14
Noncontrolling Interest Sharing Ratio
5.80% 5.70% 5.71% 5.39% 4.94% 4.70% 4.70% 4.95% 4.74% 4.69%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
0.13 0.16 0.85 0.13 0.10 0.12 0.20 0.15 0.08 0.12
Quick Ratio
0.05 0.06 0.52 0.04 0.03 0.04 0.04 0.04 0.02 0.05
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
931 679 812 574 155 1,309 121 407 -709 792
Operating Cash Flow to CapEx
0.00% 412.00% 0.00% 132.11% 252.96% 0.00% 0.00% 661.04% 30.79% 0.00%
Free Cash Flow to Firm to Interest Expense
12.48 9.97 11.87 8.49 2.15 18.55 1.75 6.01 -9.49 9.66
Operating Cash Flow to Interest Expense
5.75 4.91 5.75 5.22 6.15 4.88 6.09 5.86 5.38 4.32
Operating Cash Flow Less CapEx to Interest Expense
11.18 3.72 6.89 1.27 3.72 6.18 8.58 4.97 -12.09 7.40
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.13 0.13 0.14 0.14 0.14 0.14 0.15 0.15 0.14 0.15
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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 0.15 0.15 0.15 0.15 0.16 0.15 0.16
Accounts Payable Turnover
0.00 0.00 0.00 4.25 2.40 5.61 0.00 4.41 3.14 5.67
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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 0.00 0.00 85.91 151.83 65.05 0.00 82.74 116.20 64.33
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 -85.91 -151.83 -65.05 0.00 -82.74 -116.20 -64.33
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
19,045 19,021 18,730 18,921 18,890 18,872 18,609 18,513 19,599 19,497
Invested Capital Turnover
0.14 0.14 0.15 0.15 0.15 0.15 0.16 0.16 0.15 0.16
Increase / (Decrease) in Invested Capital
-517 -437 -812 -574 -155 -150 -121 -407 709 625
Enterprise Value (EV)
31,199 28,099 28,923 31,572 28,941 29,841 30,977 33,248 36,678 35,104
Market Capitalization
23,453 20,525 21,552 23,963 21,383 22,343 23,731 26,022 28,230 26,972
Book Value per Share
$29.27 $29.47 $29.32 $29.00 $29.09 $29.10 $29.17 $28.92 $28.58 $29.06
Tangible Book Value per Share
$29.27 $29.47 $29.32 $29.00 $29.09 $29.10 $29.17 $28.92 $28.58 $29.06
Total Capital
19,130 19,127 18,982 19,025 19,023 18,969 18,782 18,664 19,771 19,706
Total Debt
7,498 7,426 7,312 7,443 7,479 7,390 7,210 7,157 8,366 8,122
Total Long-Term Debt
7,309 7,296 7,312 7,258 6,982 6,981 6,984 6,986 7,579 7,578
Net Debt
7,120 7,010 6,801 7,014 7,039 6,968 6,724 6,677 7,879 7,575
Capital Expenditures (CapEx)
-405 81 -78 267 175 -92 -172 60 1,304 -253
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-778 -716 -259 -757 -785 -724 -769 -753 -786 -742
Debt-free Net Working Capital (DFNWC)
-656 -579 -40 -633 -658 -584 -573 -614 -659 -582
Net Working Capital (NWC)
-846 -708 -40 -817 -1,156 -993 -799 -785 -1,446 -1,125
Net Nonoperating Expense (NNE)
79 77 -220 -145 -181 837 -305 -184 -149 984
Net Nonoperating Obligations (NNO)
7,413 7,320 7,060 7,339 7,346 7,293 7,037 7,006 8,193 7,913
Total Depreciation and Amortization (D&A)
226 222 223 229 233 234 233 231 247 271
Debt-free, Cash-free Net Working Capital to Revenue
-29.01% -26.17% -9.29% -26.88% -27.58% -25.19% -26.53% -25.81% -26.73% -24.90%
Debt-free Net Working Capital to Revenue
-24.48% -21.15% -1.43% -22.46% -23.12% -20.32% -19.75% -21.07% -22.42% -19.52%
Net Working Capital to Revenue
-31.55% -25.90% -1.43% -29.00% -40.61% -34.56% -27.54% -26.93% -49.17% -37.76%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.86 $0.42 $0.56 $0.37 $0.45 $0.82 $0.78 $0.47 $0.38 $1.10
Adjusted Weighted Average Basic Shares Outstanding
375.85M 376.21M 378.34M 378.64M 378.85M 378.77M 378.81M 378.58M 378.76M 378.80M
Adjusted Diluted Earnings per Share
$0.86 $0.41 $0.56 $0.37 $0.45 $0.82 $0.77 $0.47 $0.38 $1.10
Adjusted Weighted Average Diluted Shares Outstanding
389.30M 389.45M 390.66M 391.19M 391.35M 390.90M 390.56M 390.54M 391.03M 390.74M
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
377.92M 378.60M 378.90M 379.03M 379.72M 379.55M 378.97M 379.14M 379.43M 379.71M
Normalized Net Operating Profit after Tax (NOPAT)
217 242 -100 0.09 -27 1,004 -188 -40 0.16 1,099
Normalized NOPAT Margin
31.27% 34.60% -14.19% 0.01% -3.71% 138.05% -25.72% -5.41% 0.02% 143.29%
Pre Tax Income Margin
48.39% 23.88% 31.45% 20.41% 25.24% 44.54% 42.01% 25.28% 20.08% 57.16%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
5.50 3.49 -0.13 -0.10 -0.07 16.31 -0.46 -0.20 -0.19 17.11
NOPAT to Interest Expense
5.54 3.55 0.00 0.00 0.00 16.43 0.00 0.00 0.00 17.28
EBIT Less CapEx to Interest Expense
10.92 2.30 1.01 -4.05 -2.50 17.62 2.04 -1.08 -17.65 20.19
NOPAT Less CapEx to Interest Expense
10.97 2.36 1.14 -3.95 -2.43 17.74 2.49 -0.89 -17.46 20.36
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
83.78% 125.78% 106.19% 115.47% 142.50% 118.94% 109.88% 105.61% 109.77% 98.80%
Augmented Payout Ratio
83.86% 125.87% 106.26% 115.50% 142.51% 124.59% 119.07% 114.43% 118.90% 102.39%

Frequently Asked Questions About Equity Residential's Financials

When does Equity Residential's fiscal year end?

According to the most recent income statement we have on file, Equity Residential's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Equity Residential's net income changed over the last 9 years?

Equity Residential's net income appears to be on a downward trend, with a most recent value of $1.07 billion in 2024, rising from $908.02 million in 2015. The previous period was $868.49 million in 2023.

What is Equity Residential's operating income?
Equity Residential's total operating income in 2024 was $1.42 billion, based on the following breakdown:
  • Total Gross Profit: $2.45 billion
  • Total Operating Expenses: $1.03 billion
How has Equity Residential revenue changed over the last 9 years?

Over the last 9 years, Equity Residential's total revenue changed from $2.74 billion in 2015 to $2.98 billion in 2024, a change of 8.6%.

How much debt does Equity Residential have?

Equity Residential's total liabilities were at $9.25 billion at the end of 2024, a 9.4% increase from 2023, and a 21.9% decrease since 2015.

How much cash does Equity Residential have?

In the past 9 years, Equity Residential's cash and equivalents has ranged from $42.28 million in 2015 to $123.83 million in 2021, and is currently $62.30 million as of their latest financial filing in 2024.

How has Equity Residential's book value per share changed over the last 9 years?

Over the last 9 years, Equity Residential's book value per share changed from 28.64 in 2015 to 29.06 in 2024, a change of 1.5%.



This page (NYSE:EQR) was last updated on 4/24/2025 by MarketBeat.com Staff
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