Equity Residential Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	3,094	2,980	2,874	2,735	2,464
Revenue	3,094	2,980	2,874	2,735	2,464
Revenue Growth (YoY)	3.82%	3.69%	5.07%	11.01%	-4.19%
Property Expenses	698.07	662.48	634.38	594.17	551.69
Total Property Expenses	698.07	662.48	634.38	594.17	551.69
Property Taxes	450.45	432.09	412.11	388.41	397.11
Gross Profit	1,945	1,886	1,827	1,753	1,515
Selling, General & Admin	65.28	61.65	60.72	58.71	56.51
Depreciation & Amortization Expenses	1,010	952.19	888.71	882.17	838.27
Operating Income	869.75	871.7	878.05	811.72	620.43
Net Gains on Disposal of Properties	626.31	546.8	282.54	304.33	1,072
Interest Income	33.53	21.36	16.97	-2.84	22.27
Interest Expense	-315.57	-293.57	-278.5	-291.65	-281.21
Other Non-Operating Income (Expense)	-60.49	-74.05	-29.42	-13.66	-36.04
Total Non-Operating Income (Expense)	283.78	200.53	-8.41	-3.83	777.2
Pretax Income	1,154	1,072	869.64	807.9	1,398
Provision for Income Taxes	1.59	1.26	1.15	0.9	0.92
Net Income	1,119	1,033	832.35	773.82	1,330
Minority Interest in Earnings	31.86	35.14	33.05	30.08	63.86
Net Income Attributable to Preferred Dividends	1.42	3.06	3.09	3.09	3.09
Net Income to Common	1,119	1,033	832.35	773.82	1,330
Net Income Growth	8.32%	24.08%	7.56%	-41.81%	46.04%
Shares Outstanding (Basic)	380	379	379	376	374
Shares Outstanding (Diluted)	390	391	391	389	388
Shares Change (YoY)	-0.08%	-0.04%	0.37%	0.35%	0.57%
EPS (Basic)	2.95	2.73	2.20	2.06	3.56
EPS (Diluted)	2.94	2.72	2.20	2.05	3.54
EPS Growth	8.09%	23.64%	7.32%	-42.09%	44.49%
Free Cash Flow	516.3	-470	796.56	1,000	-827.02
Free Cash Flow Growth	-	-	-20.35%	-	-
Free Cash Flow Per Share	1.32	-1.20	2.04	2.57	-2.13
Dividends Per Share	2.770	2.700	2.650	2.500	2.410
Dividend Growth	2.59%	1.89%	6.00%	3.73%	-
Gross Margin	62.88%	63.27%	63.59%	64.08%	61.49%
Operating Margin	28.11%	29.25%	30.55%	29.68%	25.18%
Profit Margin	37.23%	35.94%	30.22%	29.50%	56.68%
FCF Margin	16.69%	-15.77%	27.72%	36.57%	-33.56%
EBITDA	1,889	1,832	1,776	1,703	1,467
EBITDA Margin	61.05%	61.47%	61.79%	62.25%	59.56%
EBIT	869.75	871.7	878.05	811.72	620.43
EBIT Margin	28.11%	29.25%	30.55%	29.68%	25.18%
Effective Tax Rate	0.14%	0.12%	0.13%	0.11%	0.07%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.