American Homes 4 Rent (AMH)

American Homes 4 Rent Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	412.43	380.17	273.14	189.09	140.37
Depreciation & Amortization	473.61	453.55	423.83	368.95	339.05
Other Amortization	14.89	15.28	14.37	12.69	11.53
Gain (Loss) on Sale of Assets	-225.76	-209.83	-136.46	-49.7	-38.77
Stock-Based Compensation	30.98	25.37	27.31	17.79	9.83
Income (Loss) on Equity Investments	1.95	2.12	2.65	-1.61	0.77
Change in Accounts Receivable	-1.71	0.88	-8.15	-4.89	-15.63
Change in Accounts Payable	34.36	44.26	43.62	44.51	14.19
Change in Other Net Operating Assets	8.74	-25.08	-11.67	-3.11	-1.71
Other Operating Activities	62.04	51.97	36.89	21.47	14.46
Operating Cash Flow	811.54	738.69	665.52	595.2	474.1
Operating Cash Flow Growth	9.86%	11.00%	11.81%	25.54%	3.54%
Acquisition of Real Estate Assets	-1,498	-1,167	-1,753	-1,845	-955.3
Sale of Real Estate Assets	573.72	470.16	326.6	133.33	228.57
Net Sale / Acq. of Real Estate Assets	-923.84	-696.78	-1,427	-1,711	-726.74
Investment in Marketable & Equity Securities	96.63	35.12	43	28.29	99.17
Other Investing Activities	-24.33	-30.92	-41.71	-50.53	-15.36
Investing Cash Flow	-825.88	-692.58	-1,426	-1,733	-642.93
Long-Term Debt Issued	1,994	200	1,497	2,147	130
Long-Term Debt Repaid	-1,442	-264.47	-862.58	-1,084	-152.5
Net Debt Issued (Repaid)	551.86	-64.47	634.23	1,063	-22.5
Issuance of Common Stock	149.5	405.14	566.41	733.04	421.11
Repurchase of Common Stock	-9.02	-3.97	-4.81	-2.68	-1.65
Preferred Share Repurchases	-	-	-155	-498.75	-
Common Dividends Paid	-383.54	-319.5	-252.51	-146.24	-61.07
Preferred Dividends Paid	-13.94	-13.94	-17.08	-37.92	-55.13
Total Dividends Paid	-397.48	-333.44	-269.59	-184.17	-116.2
Other Financing Activities	-152.17	-45.47	14.94	-45.37	-10.98
Net Cash Flow	128.36	3.9	26.19	-73.31	100.96
Cash Interest Paid	128.06	128.03	116.4	95.79	109.68
Levered Free Cash Flow	605.65	751.49	634.66	206.83	412.61
Unlevered Free Cash Flow	697.5	826.83	707.28	269.85	478.33
Change in Working Capital	41.39	20.06	23.8	36.52	-3.15

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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