American Homes 4 Rent 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	1,850	1,729	1,624	1,491	1,304
Revenue	1,850	1,729	1,624	1,491	1,304
Revenue Growth (YoY)	7.03%	6.47%	8.93%	14.31%	11.20%
Property Expenses	798.76	755.2	722.82	664.79	587.07
Total Property Expenses	798.76	755.2	722.82	664.79	587.07
Gross Profit	1,051	973.49	900.78	825.75	716.81
Selling, General & Admin	83.01	83.59	74.62	68.06	56.44
Depreciation & Amortization Expenses	504.34	477.01	456.55	426.53	372.85
Other Operating Expenses	12.26	21.08	16.91	29.59	15.75
Operating Income	451.87	391.82	352.71	301.57	271.77
Net Gains on Disposal of Properties	231.46	225.76	209.83	136.46	49.7
Interest Expense	-185.2	-165.35	-140.2	-134.87	-114.89
Other Non-Operating Income (Expense)	15.26	15.92	9.8	6.87	3.99
Total Non-Operating Income (Expense)	61.53	76.33	79.43	8.45	-61.21
Pretax Income	513.39	468.14	432.14	310.03	210.56
Net Income	439.03	398.48	366.22	250.78	135.29
Minority Interest in Earnings	60.42	55.72	51.97	36.89	21.47
Net Income Attributable to Preferred Dividends	13.94	13.94	13.94	22.36	53.8
Net Income to Common	439.03	398.48	366.22	250.78	135.29
Net Income Growth	10.18%	8.81%	46.03%	85.37%	58.70%
Shares Outstanding (Basic)	371	367	362	348	326
Shares Outstanding (Diluted)	371	368	362	353	326
Shares Change (YoY)	0.79%	1.52%	2.62%	8.51%	6.92%
EPS (Basic)	1.18	1.08	1.01	0.72	0.42
EPS (Diluted)	1.18	1.08	1.01	0.71	0.41
EPS Growth	9.26%	6.93%	42.25%	73.17%	46.43%
Free Cash Flow	-128.62	-686.03	-428.26	-1,088	-1,249
Free Cash Flow Per Share	-0.35	-1.86	-1.18	-	-3.84
Dividends Per Share	1.200	1.040	0.880	0.720	0.400
Dividend Growth	15.38%	18.18%	22.22%	80.00%	100.00%
Gross Margin	56.83%	56.31%	55.48%	55.40%	54.98%
Operating Margin	24.42%	22.67%	21.72%	20.23%	20.84%
Profit Margin	27.75%	27.08%	26.62%	20.80%	16.15%
FCF Margin	-6.95%	-39.68%	-26.38%	-72.99%	-95.82%
EBITDA	956.21	868.83	809.26	728.1	644.62
EBITDA Margin	51.68%	50.26%	49.84%	48.85%	49.44%
EBIT	451.87	391.82	352.71	301.57	271.77
EBIT Margin	24.42%	22.67%	21.72%	20.23%	20.84%

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