Equity Residential (EQR)

Equity Residential Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Property Revenue	3,113	3,094	2,980	2,874	2,735	2,464
Revenue	3,113	3,094	2,980	2,874	2,735	2,464
Revenue Growth (YoY)	3.42%	3.82%	3.69%	5.07%	11.01%	-4.19%
Property Expenses	703.08	698.07	662.48	634.38	594.17	551.69
Total Property Expenses	703.08	698.07	662.48	634.38	594.17	551.69
Property Taxes	455.73	450.45	432.09	412.11	388.41	397.11
Gross Profit	1,954	1,945	1,886	1,827	1,753	1,515
Selling, General & Admin	63.89	65.28	61.65	60.72	58.71	56.51
Depreciation & Amortization Expenses	1,001	1,010	952.19	888.71	882.17	838.27
Operating Income	889.15	869.75	871.7	878.05	811.72	620.43
Net Gains on Disposal of Properties	472.2	626.31	546.8	282.54	304.33	1,072
Interest Income	38.44	33.53	21.36	16.97	-2.84	22.27
Interest Expense	-320.82	-315.57	-293.57	-278.5	-291.65	-281.21
Other Non-Operating Income (Expense)	-97.12	-60.49	-74.05	-29.42	-13.66	-36.04
Total Non-Operating Income (Expense)	92.7	283.78	200.53	-8.41	-3.83	777.2
Pretax Income	981.85	1,154	1,072	869.64	807.9	1,398
Provision for Income Taxes	1.59	1.59	1.26	1.15	0.9	0.92
Net Income	952.15	1,119	1,033	832.35	773.82	1,330
Minority Interest in Earnings	26.68	31.86	35.14	33.05	30.08	63.86
Net Income Attributable to Preferred Dividends	1.42	1.42	3.06	3.09	3.09	3.09
Net Income to Common	952.15	1,119	1,033	832.35	773.82	1,330
Net Income Growth	-4.33%	8.32%	24.08%	7.56%	-41.81%	46.04%
Shares Outstanding (Basic)	379	380	379	379	376	374
Shares Outstanding (Diluted)	389	390	391	391	389	388
Shares Change (YoY)	-0.49%	-0.08%	-0.04%	0.37%	0.35%	0.57%
EPS (Basic)	2.52	2.95	2.73	2.20	2.06	3.56
EPS (Diluted)	2.50	2.94	2.72	2.20	2.05	3.54
EPS Growth	-4.58%	8.09%	23.64%	7.32%	-42.09%	44.49%
Shares Outstanding	374.68	377.81	379.48	390.87	390.86	388.19
Free Cash Flow	766.93	516.3	-470	796.56	1,000	-827.02
Free Cash Flow Growth	48.54%	-	-	-20.35%	-	-
Free Cash Flow Per Share	1.97	1.32	-1.20	2.04	2.57	-2.13
Dividends Per Share	2.780	2.770	2.700	2.650	2.500	2.410
Dividend Growth	0.36%	2.59%	1.89%	6.00%	3.73%	-
Gross Margin	62.78%	62.88%	63.27%	63.59%	64.08%	61.49%
Operating Margin	28.56%	28.11%	29.25%	30.55%	29.68%	25.18%
Profit Margin	31.49%	37.23%	35.94%	30.22%	29.50%	56.68%
FCF Margin	24.64%	16.69%	-15.77%	27.72%	36.57%	-33.56%
EBITDA	1,899	1,889	1,832	1,776	1,703	1,467
EBITDA Margin	61.00%	61.05%	61.47%	61.79%	62.25%	59.56%
EBIT	889.15	869.75	871.7	878.05	811.72	620.43
EBIT Margin	28.56%	28.11%	29.25%	30.55%	29.68%	25.18%
Effective Tax Rate	0.16%	0.14%	0.12%	0.13%	0.11%	0.07%

Updated Apr 30, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q