American Homes 4 Rent Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,863	1,850	1,729	1,624	1,491	1,304
Revenue	1,863	1,850	1,729	1,624	1,491	1,304
Revenue Growth (YoY)	5.59%	7.03%	6.47%	8.93%	14.31%	11.20%
Property Expenses	799.04	798.76	755.2	722.82	664.79	587.07
Total Property Expenses	799.04	798.76	755.2	722.82	664.79	587.07
Gross Profit	1,064	1,051	973.49	900.78	825.75	716.81
Selling, General & Admin	84.67	83.01	83.59	74.62	68.06	56.44
Depreciation & Amortization Expenses	506.76	504.34	477.01	456.55	426.53	372.85
Other Operating Expenses	12.26	12.26	21.08	16.91	29.59	15.75
Operating Income	460.26	451.87	391.82	352.71	301.57	271.77
Net Gains on Disposal of Properties	247.89	231.46	225.76	209.83	136.46	49.7
Interest Expense	-187.99	-185.2	-165.35	-140.2	-134.87	-114.89
Other Non-Operating Income (Expense)	13.37	15.26	15.92	9.8	6.87	3.99
Total Non-Operating Income (Expense)	73.27	61.53	76.33	79.43	8.45	-61.21
Pretax Income	533.52	513.39	468.14	432.14	310.03	210.56
Net Income	456.83	439.03	398.48	366.22	250.78	135.29
Minority Interest in Earnings	62.75	60.42	55.72	51.97	36.89	21.47
Net Income Attributable to Preferred Dividends	13.94	13.94	13.94	13.94	22.36	53.8
Net Income to Common	456.83	439.03	398.48	366.22	250.78	135.29
Net Income Growth	14.45%	10.18%	8.81%	46.03%	85.37%	58.70%
Shares Outstanding (Basic)	369	371	367	362	348	326
Shares Outstanding (Diluted)	369	371	368	362	353	326
Shares Change (YoY)	0.12%	0.79%	1.52%	2.62%	8.51%	6.92%
EPS (Basic)	1.23	1.18	1.08	1.01	0.72	0.42
EPS (Diluted)	1.23	1.18	1.08	1.01	0.71	0.41
EPS Growth	13.89%	9.26%	6.93%	42.25%	73.17%	46.43%
Shares Outstanding	363.8	366.66	369.62	364.93	353.52	338
Free Cash Flow	-91.01	-128.62	-686.03	-428.26	-1,088	-1,249
Free Cash Flow Per Share	-0.25	-0.35	-1.86	-1.18	-3.08	-3.84
Dividends Per Share	1.230	1.200	1.040	0.880	0.720	0.400
Dividend Growth	2.50%	15.38%	18.18%	22.22%	80.00%	100.00%
Gross Margin	57.11%	56.83%	56.31%	55.48%	55.40%	54.98%
Operating Margin	24.71%	24.42%	22.67%	21.72%	20.23%	20.84%
Profit Margin	28.64%	27.75%	27.08%	26.62%	20.80%	16.15%
FCF Margin	-4.89%	-6.95%	-39.68%	-26.38%	-72.99%	-95.82%
EBITDA	967.01	956.21	868.83	809.26	728.1	644.62
EBITDA Margin	51.91%	51.68%	50.26%	49.84%	48.85%	49.44%
EBIT	460.26	451.87	391.82	352.71	301.57	271.77
EBIT Margin	24.71%	24.42%	22.67%	21.72%	20.23%	20.84%

Updated May 7, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

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