Essex Property Trust, Inc. (ESS)

Essex Property Trust Income 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
Rental Revenue	1,764	1,658	1,596	1,431	1,486
Property Management Fees	10.27	11.13	11.14	9.14	9.6
Other Revenue	51.8	10.56	26.03	111.72	66.51
Total Revenue	1,826	1,680	1,633	1,552	1,562
Revenue Growth (YoY	8.71%	2.89%	5.19%	-0.64%	-1.36%
Property Expenses	567.82	531.95	510.11	481.65	476.56
Selling, General & Administrative	98.9	63.47	56.58	51.84	65.39
Depreciation & Amortization	580.22	548.44	539.32	520.07	525.5
Total Operating Expenses	1,247	1,144	1,106	1,054	1,067
Operating Income	579.31	536.1	526.84	498.72	494.81
Interest Expense	-235.53	-212.91	-204.8	-203.13	-220.63
Interest & Investment Income	28.76	36.25	25.7	57.3	7.2
Other Non-Operating Income	3.28	3.15	7.91	10.77	10.73
EBT Excluding Unusual Items	375.82	362.59	355.65	363.67	292.11
Gain (Loss) on Sale of Investments	216.24	9.31	-17.89	23.1	266.88
Gain (Loss) on Sale of Assets	175.58	59.24	94.42	142.99	64.97
Total Insurance Settlements	43.66	-	-	-	0.08
Asset Writedown	-	-	-	-	-1.83
Other Unusual Items	-	-0.43	0.81	-14.07	-22.88
Pretax Income	811.31	430.71	432.99	515.69	599.33
Earnings From Continuing Operations	811.31	430.71	432.99	515.69	599.33
Minority Interest in Earnings	-69.78	-24.88	-24.67	-27.14	-30.46
Net Income	741.52	405.83	408.32	488.55	568.87
Net Income to Common	741.52	405.83	408.32	488.55	568.87
Net Income Growth	82.72%	-0.61%	-16.42%	-14.12%	29.50%
Basic Shares Outstanding	64	64	65	65	65
Diluted Shares Outstanding	64	64	65	65	66
Shares Change (YoY)	-0.00%	-1.30%	0.01%	-0.73%	-0.57%
EPS (Basic)	11.55	6.32	6.27	7.51	8.69
EPS (Diluted)	11.54	6.32	6.27	7.51	8.69
EPS Growth	82.71%	0.74%	-16.51%	-13.56%	30.46%
Dividend Per Share	9.800	9.240	8.800	8.360	8.310
Dividend Growth	6.06%	5.00%	5.26%	0.60%	6.54%
Operating Margin	31.72%	31.91%	32.27%	32.13%	31.67%
Profit Margin	40.60%	24.16%	25.01%	31.47%	36.41%
Free Cash Flow Margin	-	58.34%	59.75%	58.32%	51.41%
EBITDA	1,155	1,085	1,066	1,019	1,020
EBITDA Margin	63.25%	64.56%	65.29%	65.63%	65.31%
D&A For Ebitda	575.71	548.44	539.32	520.07	525.5
EBIT	579.31	536.1	526.84	498.72	494.81
EBIT Margin	31.72%	31.91%	32.27%	32.13%	31.67%
Funds From Operations (FFO)	1,064	1,014	923.36	941.05	865.27
FFO Per Share	15.99	15.24	13.70	13.98	12.78
Adjusted Funds From Operations (AFFO)	1,064	1,014	923.36	941.05	865.27
AFFO Per Share	15.99	15.24	13.70	13.98	12.78
FFO Payout Ratio	-	57.90%	61.29%	57.69%	61.96%
Revenue as Reported	1,774	1,669	1,607	1,441	1,496

Source: S&P Capital IQ. Real Estate template. Financial Sources.