Essex Property Trust, Inc. (ESS)

Essex Property Trust 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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	1,802	1,764	1,658	1,596	1,431	1,486
Property Management Fees	10.05	10.27	11.13	11.14	9.14	9.6
Other Revenue	49.05	48.21	10.56	26.03	111.72	66.51
Total Revenue	1,861	1,823	1,680	1,633	1,552	1,562
Revenue Growth (YoY	9.74%	8.49%	2.89%	5.19%	-0.64%	-1.36%
Property Expenses	581.1	567.82	531.95	510.11	481.65	476.56
Selling, General & Administrative	98.02	98.9	63.47	56.58	51.84	65.39
Depreciation & Amortization	591.77	580.22	548.44	539.32	520.07	525.5
Total Operating Expenses	1,271	1,247	1,144	1,106	1,054	1,067
Operating Income	590.25	575.72	536.1	526.84	498.72	494.81
Interest Expense	-242.33	-235.53	-212.91	-204.8	-203.13	-220.63
Interest & Investment Income	16.18	30.1	28.55	21.5	57.3	7.2
Other Non-Operating Income	3.5	3.1	3.15	7.91	10.77	10.73
EBT Excluding Unusual Items	367.6	373.39	354.89	351.45	363.67	292.11
Gain (Loss) on Sale of Investments	85.49	219.83	9.31	-17.89	23.1	266.88
Gain (Loss) on Sale of Assets	286.61	175.58	59.24	94.42	142.99	64.97
Total Insurance Settlements	-	-	-	-	-	0.08
Asset Writedown	-	-	-	-	-	-1.83
Total Legal Settlements	-	42.5	7.7	4.2	-	-
Other Unusual Items	-0.76	-	-0.43	0.81	-14.07	-22.88
Pretax Income	738.94	811.31	430.71	432.99	515.69	599.33
Earnings From Continuing Operations	738.94	811.31	430.71	432.99	515.69	599.33
Minority Interest in Earnings	-67.04	-69.78	-24.88	-24.67	-27.14	-30.46
Net Income	671.9	741.52	405.83	408.32	488.55	568.87
Net Income to Common	671.9	741.52	405.83	408.32	488.55	568.87
Net Income Growth	27.98%	82.72%	-0.61%	-16.42%	-14.12%	29.50%
Basic Shares Outstanding	64	64	64	65	65	65
Diluted Shares Outstanding	64	64	64	65	65	66
Shares Change (YoY)	0.15%	-0.00%	-1.30%	0.01%	-0.73%	-0.57%
EPS (Basic)	10.46	11.55	6.32	6.27	7.51	8.69
EPS (Diluted)	10.45	11.54	6.32	6.27	7.51	8.69
EPS Growth	27.78%	82.71%	0.74%	-16.51%	-13.56%	30.46%
Dividend Per Share	9.920	9.800	9.240	8.800	8.360	8.310
Dividend Growth	5.76%	6.06%	5.00%	5.26%	0.60%	6.54%
Operating Margin	31.71%	31.59%	31.91%	32.27%	32.13%	31.67%
Profit Margin	36.10%	40.68%	24.16%	25.01%	31.47%	36.41%
EBITDA	1,182	1,156	1,085	1,066	1,019	1,020
EBITDA Margin	63.51%	63.42%	64.56%	65.30%	65.63%	65.31%
D&A For Ebitda	591.77	580.22	548.44	539.32	520.07	525.5
EBIT	590.25	575.72	536.1	526.84	498.72	494.81
EBIT Margin	31.71%	31.59%	31.91%	32.27%	32.13%	31.67%
Funds From Operations (FFO)	1,023	1,064	1,014	923.36	941.05	865.27
FFO Per Share	15.36	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	61.55%	58.32%	57.90%	61.29%	57.69%	61.96%
Revenue as Reported	1,812	1,774	1,669	1,607	1,441	1,496

Updated Feb 21, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q