Equity Residential (EQR)

Equity Residential Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,152	1,071	868.49	807	1,397
Depreciation & Amortization	1,019	960.03	897.65	890.9	847.01
Stock-Based Compensation	32.21	31.29	31.82	29.51	27.81
Other Adjustments	-600.86	-527.81	-267.31	-267.96	-1,041
Changes in Other Operating Activities	46.3	39.13	2.16	-4.69	29.73
Operating Cash Flow	1,649	1,574	1,533	1,455	1,260
Operating Cash Flow Growth	4.78%	2.66%	5.37%	15.44%	-0.42%
Capital Expenditures	-1,132	-2,044	-736.23	-454.63	-2,087
Sale of Property, Plant & Equipment	1,107	960.4	374.02	720.3	1,708
Purchases of Investments	-86.04	-109.72	-52.48	-161.76	-248.08
Proceeds from Sale of Investments	14.92	16.45	3.08	3.88	192.91
Other Investing Activities	-225.04	-	2.11	-	-
Investing Cash Flow	-321.36	-1,176	-409.5	107.79	-434.62
Short-Term Debt Issued	47,905	33,508	6,124	6,036	7,600
Short-Term Debt Repaid	-47,862	-33,374	-5,845	-6,221	-7,700
Net Short-Term Debt Issued (Repaid)	42.97	134.55	279.18	-185.08	-99.8
Long-Term Debt Issued	498.58	597.95	572.9	48.05	555.9
Long-Term Debt Repaid	-494.74	-6.1	-935.95	-789.85	-164.28
Net Long-Term Debt Issued (Repaid)	3.84	591.85	-363.06	-741.8	391.62
Issuance of Common Stock	8.22	26.52	27.15	168.87	89.71
Repurchase of Common Stock	-280.72	-38.47	-49.11	-	-
Net Common Stock Issued (Repurchased)	-272.5	-11.95	-21.96	168.87	89.71
Repurchase of Preferred Stock	-	-20.13	-	-	-
Net Preferred Stock Issued (Repurchased)	-	-20.13	-	-	-
Common Dividends Paid	-1,046	-1,019	-990.15	-931.78	-900.47
Preferred Share Dividends Paid	-1.42	-2.39	-3.09	-2.32	-3.09
Other Financing Activities	-55.35	-49.84	-21.4	-93.51	-43.03
Financing Cash Flow	-1,329	-376.95	-1,120	-1,786	-565.06
Net Cash Flow	-1.31	20.17	2.82	-223.06	260.51
Free Cash Flow	516.3	-470	796.56	1,000	-827.02
Free Cash Flow Growth	-	-	-20.35%	-	-
FCF Margin	16.69%	-15.77%	27.72%	36.57%	-33.56%
Free Cash Flow Per Share	1.32	-1.20	2.04	2.57	-2.13
Levered Free Cash Flow	1,098	714.72	912.04	278.52	411.11
Unlevered Free Cash Flow	801.56	-173.77	1,040	1,242	-590.44

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

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