Equity Residential (EQR)

Equity Residential Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	3,079	2,980	2,874	2,735	2,464	2,572
Total Revenue	3,079	2,980	2,874	2,735	2,464	2,572
Revenue Growth (YoY	4.69%	3.69%	5.07%	11.01%	-4.19%	-4.78%
Property Expenses	1,139	1,095	1,046	982.58	948.79	916.39
Selling, General & Administrative	64.2	61.65	60.72	58.71	56.51	48.31
Depreciation & Amortization	1,016	952.19	888.71	882.17	838.27	820.83
Total Operating Expenses	2,220	2,108	1,996	1,923	1,844	1,786
Operating Income	859.33	871.7	878.05	811.72	620.43	786.18
Interest Expense	-315.96	-293.57	-278.5	-291.65	-281.21	-374.01
Interest & Investment Income	34.98	12.44	7.38	0.13	2.23	5.94
Income (Loss) on Equity Investments	-19.5	-8.97	-5.38	-5.03	-3.4	-3.28
Other Non-Operating Income	-54.86	-74.05	-29.42	-13.66	-19.28	-17.51
EBT Excluding Unusual Items	503.98	507.55	572.13	501.51	318.78	397.31
Gain (Loss) on Sale of Investments	17.89	17.89	14.97	2.06	23.43	-
Gain (Loss) on Sale of Assets	674.01	546.8	282.54	304.33	1,072	566.04
Asset Writedown	-	-	-	-	-16.77	-
Pretax Income	1,196	1,072	869.64	807.9	1,398	963.35
Income Tax Expense	1.56	1.26	1.15	0.9	0.92	0.85
Earnings From Continuing Operations	1,194	1,071	868.49	807	1,397	962.5
Net Income to Company	1,194	1,071	868.49	807	1,397	962.5
Minority Interest in Earnings	-37.21	-35.14	-33.05	-30.08	-63.86	-48.87
Net Income	1,157	1,036	835.44	776.91	1,333	913.64
Preferred Dividends & Other Adjustments	2.87	3.06	3.09	3.09	3.09	3.09
Net Income to Common	1,154	1,033	832.35	773.82	1,330	910.55
Net Income Growth	24.63%	23.99%	7.53%	-41.71%	45.88%	-5.85%
Basic Shares Outstanding	380	379	379	376	374	372
Diluted Shares Outstanding	391	391	391	389	388	386
Shares Change (YoY)	0.13%	-0.04%	0.37%	0.35%	0.57%	-0.12%
EPS (Basic)	3.04	2.73	2.20	2.06	3.56	2.45
EPS (Diluted)	3.03	2.72	2.20	2.05	3.54	2.45
EPS Growth	24.20%	23.65%	6.96%	-42.04%	44.81%	-5.75%
Dividend Per Share	0.675	2.700	2.650	2.500	2.410	2.410
Dividend Growth	-74.88%	1.89%	6.00%	3.73%	-	6.17%
Operating Margin	27.91%	29.25%	30.55%	29.68%	25.18%	30.57%
Profit Margin	37.49%	34.66%	28.96%	28.29%	53.97%	35.41%
EBITDA	1,848	1,826	1,769	1,695	1,459	1,607
EBITDA Margin	60.03%	61.27%	61.54%	61.98%	59.19%	62.49%
D&A For Ebitda	988.76	954.14	890.49	883.56	838.12	820.76
EBIT	859.33	871.7	878.05	811.72	620.43	786.18
EBIT Margin	27.91%	29.25%	30.55%	29.68%	25.18%	30.57%
Funds From Operations (FFO)	1,470	1,470	1,464	1,374	1,151	1,238
FFO Per Share	-	3.76	3.75	-	-	-
Adjusted Funds From Operations (AFFO)	-	1,470	1,464	1,374	1,151	1,238
AFFO Per Share	-	3.76	3.75	-	-	-
FFO Payout Ratio	-	69.34%	67.63%	67.82%	78.26%	71.39%
Effective Tax Rate	0.13%	0.12%	0.13%	0.11%	0.07%	0.09%

Updated Oct 28, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q