What is AvalonBay Communities, Inc.'s earnings per share (EPS)?

AvalonBay Communities, Inc. (AVB) reported diluted earnings per share of $7.40 for fiscal year 2025. This represents a -2.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AvalonBay Communities, Inc. (AVB) Financials

AVB

Trailing 12 months to June 30, 2026

Revenue $3.1B +3.4% YoY

Net Income $1.0B -11.0% YoY

EPS (Diluted) $7.30 -10.2% YoY

Operating Cash Flow $1.7B +3.2% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AVB SEC filings page.

AvalonBay Communities, Inc. (AVB) reported $3.1B in revenue over the twelve months to Jun 30, 2026, up 3.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AVB FY2025 2026-10-03

AvalonBay turns growing revenue into cash, while FY2025 investment coincided with a more leveraged balance sheet.

In FY2025, operating cash flow of $1.7B exceeded net income of $1.1B by roughly $614M, while depreciation and amortization was $913M. That combination points to an asset-heavy model in which reported earnings absorb substantial noncash depreciation, making cash generation more informative than net income alone.

Revenue increased from $2.8B in FY2023 to $3.0B in FY2025, showing continued expansion. Over the same span, operating margin widened from 64.7% to 66.5%, indicating that operating costs did not rise as quickly as revenue.

Leverage increased: debt-to-equity moved from 0.7x in FY2023 to 0.8x in FY2025, making the capital structure less conservative. FY2025 investing cash flow of -$1.4B absorbed most of the $1.7B operating cash flow, indicating that maintaining or expanding the asset base consumed much of internally generated cash.

Financial Health Signals

Financial Health Score 65/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of AvalonBay Communities, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. AvalonBay Communities, Inc. scores 82/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. AvalonBay Communities, Inc. scores 51/100 on it among other REITs.

Leverage

AvalonBay Communities, Inc.'s net debt of $9.1B, being $9.3B of long-term debt less $187.2M of cash, came to 3.12 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and AvalonBay Communities, Inc. scores 79/100 among other REITs.

Interest Cov.

AvalonBay Communities, Inc.'s operating income of $2.0B covered its interest expense of $259.2M 7.80 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and AvalonBay Communities, Inc. scores 95/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. AvalonBay Communities, Inc. scores 83/100 on it among other REITs.

Dividend Cov.

Not available for AvalonBay Communities, Inc., and counted as zero in the overall score.

Piotroski F-Score Partial

4/7

AvalonBay Communities, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.58x

For every $1 of reported earnings, AvalonBay Communities, Inc. generates $1.58 in operating cash flow ($1.7B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

7.80x

AvalonBay Communities, Inc. earns $7.80 in operating income for every $1 of interest expense ($2.0B vs $259.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$777.8M

YoY+2.3%

QoQ+1.0%

5Y CAGR+6.7%

10Y CAGR+4.5%

AvalonBay Communities, Inc. generated $777.8M in revenue in Q2 2026. This represents an increase of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

EBITDA

$762.2M

YoY+3.4%

QoQ+1.5%

5Y CAGR+7.0%

AvalonBay Communities, Inc.'s EBITDA was $762.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 1.5%.

Net Income

$155.7M

YoY-42.0%

QoQ-52.2%

5Y CAGR-19.0%

10Y CAGR-2.3%

AvalonBay Communities, Inc. reported $155.7M in net income in Q2 2026. This represents a decrease of 42.0% from the same quarter a year earlier. Against the prior quarter it is down 52.2%.

EPS (Diluted)

$1.11

YoY-41.0%

QoQ-52.4%

5Y CAGR-19.1%

10Y CAGR-2.6%

AvalonBay Communities, Inc. earned $1.11 per diluted share (EPS) in Q2 2026. This represents a decrease of 41.0% from the same quarter a year earlier. Against the prior quarter it is down 52.4%.

Cash & Balance Sheet

Cash & Debt

$80.7M

YoY-21.5%

QoQ-33.4%

5Y CAGR-22.9%

10Y CAGR-7.8%

AvalonBay Communities, Inc. held $80.7M in cash against $9.0B in long-term debt as of Q2 2026.

Dividends Per Share

$1.78

YoY+1.7%

QoQ0.0%

AvalonBay Communities, Inc. paid $1.78 per share in dividends in Q2 2026. This represents an increase of 1.7% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

143M

YoY+0.3%

QoQ+2.6%

5Y CAGR+0.5%

10Y CAGR+0.4%

AvalonBay Communities, Inc. had 143M shares outstanding in Q2 2026. This represents an increase of 0.3% from the same quarter a year earlier. Against the prior quarter it is up 2.6%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Operating Margin

68.0%

YoY+1.5pp

QoQ+0.9pp

5Y change+4.0pp

AvalonBay Communities, Inc.'s operating margin was 68.0% in Q2 2026, reflecting core business profitability. This is up 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.

Net Margin

20.0%

YoY-15.3pp

QoQ-22.3pp

5Y change-59.7pp

10Y change-19.3pp

AvalonBay Communities, Inc.'s net profit margin was 20.0% in Q2 2026, showing the share of revenue converted to profit. This is down 15.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 22.3 percentage points.

Return on Equity

1.3%

YoY-0.9pp

QoQ-1.5pp

5Y change-2.8pp

10Y change-0.7pp

AvalonBay Communities, Inc.'s ROE was 1.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

QoQ-100.0%

AvalonBay Communities, Inc. repurchased no shares in Q2 2026. Against the prior quarter it is down 100.0%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

AVB Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVB quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.1B	$3.0B+4.4%	$2.9B+5.3%	$2.8B+6.7%	$2.6B+13.0%	$2.3B-0.3%	$2.3B-1.0%	$2.3B+1.8%	$2.3B+5.8%	$2.2B+5.5%	$2.0B+10.2%	$1.9B+10.1%	$1.7B+15.2%	$1.5B+46.2%	$1.0B+11.2%	$900.1M
SG&A Expenses	$93.1M	$86.7M+11.6%	$77.7M+1.5%	$76.5M+3.3%	$74.1M+6.4%	$69.6M+15.4%	$60.3M+4.0%	$58.0M-3.9%	$60.4M+12.4%	$53.7M+17.3%	$45.8M+7.0%	$42.8M+3.3%	$41.4M+4.7%	$39.6M+16.0%	$34.1M+16.1%	$29.4M
Operating Income	$2.1B	$2.0B+5.8%	$1.9B+6.7%	$1.8B+5.3%	$1.7B+16.8%	$1.5B-1.1%	$1.5B-5.1%	$1.6B+4.5%	$1.5B+6.2%	$1.4B+6.5%	$1.3B+8.1%	$1.2B+10.6%	$1.1B+13.8%	$966.1M+44.6%	$667.9M+11.3%	$599.9M
EBITDA	N/A	$2.9B+6.4%	$2.8B+5.7%	$2.6B+3.6%	$2.5B+13.6%	$2.2B+1.6%	$2.2B-1.5%	$2.2B+4.6%	$2.1B+6.7%	$2.0B+7.5%	$1.8B+9.0%	$1.7B+9.8%	$1.5B+1.0%	$1.5B+67.4%	$911.6M+10.3%	$826.7M
Interest Expense	$276.1M	$259.2M+14.4%	$226.6M+10.0%	$206.0M-10.5%	$230.1M+4.4%	$220.4M+2.9%	$214.2M+5.2%	$203.6M-7.9%	$221.0M+10.7%	$199.7M+6.5%	$187.5M+6.8%	$175.6M-2.8%	$180.6M+4.8%	$172.4M+25.9%	$136.9M-18.4%	$167.8M
Income Tax	-$712K	-$1.1M-355.1%	$445K-95.6%	$10.2M-30.7%	$14.6M+155.5%	$5.7M+276.6%	-$3.2M-125.0%	$13.0M+8226.9%	-$160K-213.5%	$141K-53.8%	$305K-79.4%	$1.5M-84.2%	$9.4M	$0	$0	N/A
Net Income	$1.0B	$1.1B-2.3%	$1.1B+16.5%	$928.8M-18.3%	$1.1B+13.2%	$1.0B+21.3%	$827.7M+5.3%	$786.1M-19.3%	$974.5M+11.1%	$876.9M-15.2%	$1.0B+39.3%	$742.0M+8.6%	$683.6M+93.6%	$353.1M-16.7%	$423.9M-3.8%	$440.4M
EPS (Basic)	N/A	$7.40-2.8%	$7.61+16.0%	$6.56-19.3%	$8.13+13.1%	$7.19+22.1%	$5.89+4.4%	$5.64-20.0%	$7.05+10.8%	$6.36-15.5%	$7.53+35.9%	$5.54+6.1%	$5.22+87.8%	$2.78-35.9%	$4.34-11.2%	$4.89
EPS (Diluted)	$7.30	$7.40-2.6%	$7.60+15.9%	$6.56-19.2%	$8.12+12.9%	$7.19+22.1%	$5.89+4.6%	$5.63-20.1%	$7.05+11.0%	$6.35-15.6%	$7.52+36.5%	$5.51+5.8%	$5.21+87.4%	$2.78-35.6%	$4.32-11.3%	$4.87
Diluted Shares (Avg)	N/A	143M+0.3%	142M+0.6%	142M+1.2%	140M+0.2%	140M-0.5%	140M+0.6%	140M+0.9%	138M+0.2%	138M+0.4%	137M+2.1%	135M+2.6%	131M+3.1%	127M+29.8%	98M+8.0%	91M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$777.8M+2.3%	$770.3M+3.3%	$767.9M+3.7%	$766.8M+4.4%	$760.2M+4.7%	$745.9M+4.6%	$740.5M+5.1%	$734.3M+5.3%
SG&A Expenses	$27.1M+18.0%	$22.1M+11.6%	$21.9M+23.6%	$22.0M+9.7%	$23.0M+17.4%	$19.8M-2.7%	$17.7M-1.7%	$20.1M-1.8%
Operating Income	$529.2M+4.6%	$517.5M+4.3%	$515.0M+10.3%	$503.8M+4.8%	$505.7M+4.7%	$496.4M+3.6%	$467.1M+18.1%	$480.6M+2.9%
EBITDA	$762.2M+3.4%	$750.6M+5.1%	$748.4M+9.6%	$734.1M+6.0%	$737.5M+6.9%	$714.3M+3.3%	$682.6M+12.6%	$692.7M+3.7%
Interest Expense	$70.1M+8.1%	$71.5M+19.4%	$69.1M+17.2%	$65.4M+17.3%	$64.8M+13.5%	$59.9M+9.3%	$59.0M+19.2%	$55.8M+15.9%
Income Tax	$70K+113.2%	-$294K-153.4%	-$295K-16.6%	-$193K-124.7%	-$531K-756.5%	-$116K-427.3%	-$253K-110.4%	$782K-82.1%
Net Income	$155.7M-42.0%	$325.7M+37.7%	$170.0M-39.7%	$381.3M+2.4%	$268.7M+5.8%	$236.6M+36.4%	$282.1M+16.3%	$372.5M+116.8%
EPS (Basic)	$1.11-41.3%	$2.33+40.4%	$1.17-41.2%	$2.68+2.3%	$1.89+6.2%	$1.66+36.1%	$1.99+17.1%	$2.62+116.5%
EPS (Diluted)	$1.11-41.0%	$2.33+40.4%	$1.18-40.4%	$2.68+2.7%	$1.88+5.6%	$1.66+36.1%	$1.98+16.5%	$2.61+115.7%
Diluted Shares (Avg)	142M-1.0%	141M-1.2%	N/A	144M+0.7%	143M+0.6%	142M+0.2%	N/A	143M+0.2%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

AVB Balance Sheet

AVB quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$22.2B+5.7%	$21.0B+1.6%	$20.7B+1.1%	$20.5B+2.8%	$19.9B+3.7%	$19.2B+0.4%	$19.1B+4.0%	$18.4B-0.2%	$18.4B+3.1%	$17.9B+5.5%	$16.9B+4.9%	$16.1B+5.3%	$15.3B+37.3%	$11.2B+31.6%	$8.5B
Cash & Equivalents	$187.2M+72.4%	$108.6M-72.7%	$397.9M-35.1%	$613.2M+45.9%	$420.3M+93.7%	$217.0M+446.7%	$39.7M-56.7%	$91.7M+36.6%	$67.1M-68.8%	$215.0M-46.3%	$400.5M-21.4%	$509.5M+81.1%	$281.4M-89.7%	$2.7B+343.2%	$616.9M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$10.4B+14.3%	$9.1B+1.9%	$8.9B-3.3%	$9.2B+2.6%	$9.0B+6.2%	$8.4B+3.9%	$8.1B+4.9%	$7.7B-3.4%	$8.0B+4.3%	$7.7B+8.6%	$7.1B0.0%	$7.1B+5.5%	$6.7B+55.6%	$4.3B+5.9%	$4.1B
Long-Term Debt	$9.3B+15.5%	$8.1B+1.2%	$8.0B-4.0%	$8.3B+2.6%	$8.1B+6.2%	$7.6B+3.7%	$7.4B+3.6%	$7.1B-4.1%	$7.4B+4.6%	$7.1B+9.2%	$6.5B+0.5%	$6.4B+7.1%	$6.0B+56.2%	$3.9B+7.1%	$3.6B
Total Equity	$11.6B-2.8%	$11.9B+1.3%	$11.8B+4.7%	$11.3B+2.9%	$10.9B+1.7%	$10.8B-2.2%	$11.0B+3.4%	$10.6B+2.4%	$10.4B+2.1%	$10.2B+3.4%	$9.8B+8.8%	$9.0B+5.2%	$8.6B+25.7%	$6.8B+55.6%	$4.4B
Retained Earnings	$371.2M-37.2%	$591.3M+23.7%	$478.2M-1.5%	$485.2M+101.5%	$240.8M+91.1%	$126.0M-55.5%	$282.9M-19.3%	$350.8M+86.0%	$188.6M+98.7%	$94.9M+147.9%	-$198.0M+25.9%	-$267.1M+22.6%	-$345.3M-142.6%	-$142.3M+17.1%	-$171.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$22.3B+2.1%	$22.1B+4.3%	$22.2B+5.7%	$21.9B+3.0%	$21.8B+3.8%	$21.2B+2.8%	$21.0B+1.6%	$21.3B+2.9%
Cash & Equivalents	$80.7M-21.5%	$121.2M+127.6%	$187.2M+72.4%	$123.3M-77.7%	$102.8M-81.2%	$53.3M-81.5%	$108.6M-72.7%	$552.4M+8.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$10.1B+4.2%	$10.4B+12.0%	$10.4B+14.3%	$9.8B+3.9%	$9.7B+4.0%	$9.3B+4.2%	$9.1B+1.9%	$9.4B+5.6%
Long-Term Debt	$9.0B+4.2%	$9.4B+12.7%	$9.3B+15.5%	$8.7B+4.2%	$8.7B+3.4%	$8.3B+4.0%	$8.1B+1.2%	$8.4B+5.4%
Total Equity	$12.0B+0.6%	$11.5B-3.6%	$11.6B-2.8%	$11.9B+0.4%	$11.9B+1.8%	$11.9B+1.7%	$11.9B+1.3%	$11.9B+0.9%
Retained Earnings	$242.2M-59.3%	$339.6M-41.1%	$371.2M-37.2%	$638.9M+15.9%	$595.5M+41.4%	$576.5M+40.8%	$591.3M+23.7%	$551.4M+17.1%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.

AVB Cash Flow Statement

AVB quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.7B	$1.7B+3.9%	$1.6B+3.1%	$1.6B+9.7%	$1.4B+18.2%	$1.2B-1.3%	$1.2B-7.7%	$1.3B+1.6%	$1.3B+3.6%	$1.3B+8.3%	$1.2B+8.0%	$1.1B+21.2%	$886.6M+22.4%	$724.3M+33.9%	$540.8M+26.0%	$429.4M
Depreciation & Amortization	N/A	$913.4M+7.9%	$846.9M+3.7%	$817.0M+0.2%	$815.0M+7.4%	$758.6M+7.2%	$707.3M+6.9%	$661.6M+4.8%	$631.2M+8.1%	$584.1M+9.9%	$531.4M+11.2%	$477.9M+8.0%	$442.7M-21.0%	$560.2M+129.9%	$243.7M+7.5%	$226.7M
Stock-Based Compensation	N/A	$26.5M+4.3%	$25.4M-6.5%	$27.1M-19.8%	$33.9M+32.8%	$25.5M+18.1%	$21.6M-15.7%	$25.6M+26.3%	$20.3M+13.2%	$17.9M+18.8%	$15.1M-1.6%	$15.3M+10.0%	$13.9M-8.1%	$15.2M+74.1%	$8.7M+20.2%	$7.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$5.3M+58.4%	$3.3M-62.3%	$8.8M+49.8%	$5.9M-23.6%	$7.7M+29.9%	$5.9M+169.2%	$2.2M-28.5%	$3.1M-62.9%	$8.3M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.3B+1.4%	$1.3B+4.0%	$1.2B+8.1%	$1.2B+8.2%	$1.1B+21.1%	$880.7M+22.0%	$722.1M+34.3%	$537.7M+27.7%	$421.1M
Investing Cash Flow	-$1.0B	-$1.4B-39.7%	-$996.9M-7.3%	-$929.0M-65.8%	-$560.4M+10.2%	-$624.1M-247.8%	-$179.4M+85.0%	-$1.2B-100.1%	-$596.7M+38.2%	-$965.4M+6.5%	-$1.0B+13.9%	-$1.2B-46.9%	-$816.8M+30.9%	-$1.2B-89.5%	-$623.4M-40.7%	-$443.1M
Financing Cash Flow	-$674.7M	-$192.7M+78.0%	-$874.9M-4.9%	-$834.4M-24.3%	-$671.1M-92.4%	-$348.9M+59.2%	-$854.3M-291.5%	-$218.2M+68.3%	-$688.5M-64.3%	-$418.9M-38.1%	-$303.3M-1308.6%	$25.1M-84.1%	$158.2M+107.9%	-$2.0B-190.7%	$2.2B+574.2%	$326.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$839.6M+4.3%	$805.2M+4.2%	$772.7M+6.3%	$726.7M+10.9%	$655.2M+10.4%	$593.6M+12.8%	$526.0M+43.9%	$365.6M+14.9%	$318.2M
Share Buybacks	$686.6M	$488.1M	$0-100.0%	$1.9M	$0	$0-100.0%	$183.9M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$364.1M-3.6%	$418.9M+0.7%	$400.4M+21.8%	$477.0M-1.9%	$377.8M-0.6%	$415.9M+0.7%	$328.8M-5.0%	$486.2M+3.2%
Depreciation & Amortization	$233.0M+0.5%	$233.1M+7.0%	$233.4M+8.3%	$230.4M+8.6%	$231.7M+12.0%	$217.9M+2.6%	$215.5M+2.3%	$212.1M+5.5%
Stock-Based Compensation	N/A	$5.7M+0.7%	N/A	N/A	N/A	$5.7M-3.5%	N/A	N/A
Investing Cash Flow	-$416.9M-5.5%	-$49.0M+88.6%	-$467.3M-48.7%	-$101.9M+53.4%	-$395.3M-99.7%	-$427.9M-61.0%	-$314.3M+9.2%	-$218.8M+23.2%
Financing Cash Flow	$7.8M-91.7%	-$431.9M-1099.6%	$98.1M+118.2%	-$348.6M-45.1%	$93.8M-41.3%	-$36.0M+85.9%	-$539.9M-116.6%	-$240.3M+32.0%
Dividends Paid	$255.0M	$250.8M	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$198.5M	$336.3M	$151.8M	$0	$0	$0	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

AVB Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVB quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	66.5%+0.9pp	65.5%+0.8pp	64.7%-0.9pp	65.6%+2.1pp	63.5%-0.5pp	64.0%-2.8pp	66.8%+1.7pp	65.0%+0.2pp	64.8%+0.6pp	64.3%-1.3pp	65.5%+0.2pp	65.3%-0.8pp	66.0%-0.7pp	66.8%+0.1pp	66.6%
Net Margin	34.8%-2.4pp	37.1%+3.6pp	33.6%-10.3pp	43.8%+0.1pp	43.8%+7.8pp	36.0%+2.2pp	33.8%-8.8pp	42.7%+2.0pp	40.6%-9.9pp	50.6%+10.6pp	40.0%-0.6pp	40.6%+16.4pp	24.1%-18.2pp	42.4%-6.6pp	48.9%
Return on Equity	9.1%0.0pp	9.1%+1.2pp	7.9%-2.2pp	10.1%+0.9pp	9.2%+1.5pp	7.7%+0.6pp	7.1%-2.0pp	9.2%+0.7pp	8.4%-1.7pp	10.2%+2.6pp	7.5%0.0pp	7.6%+3.5pp	4.1%-2.1pp	6.2%-3.8pp	10.0%
Return on Assets	4.8%-0.4pp	5.1%+0.7pp	4.5%-1.1pp	5.6%+0.5pp	5.1%+0.7pp	4.3%+0.2pp	4.1%-1.2pp	5.3%+0.5pp	4.8%-1.0pp	5.8%+1.4pp	4.4%+0.1pp	4.2%+1.9pp	2.3%-1.5pp	3.8%-1.4pp	5.2%
Debt-to-Equity	0.80+0.1x	0.680.0x	0.68-0.1x	0.740.0x	0.740.0x	0.710.0x	0.670.0x	0.670.0x	0.710.0x	0.700.0x	0.66-0.1x	0.710.0x	0.70+0.1x	0.56-0.3x	0.82
Asset Turnover	0.140.0x	0.140.0x	0.130.0x	0.130.0x	0.120.0x	0.120.0x	0.120.0x	0.120.0x	0.120.0x	0.110.0x	0.110.0x	0.100.0x	0.100.0x	0.090.0x	0.11
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	56.6%-0.2pp	56.8%-1.0pp	57.8%+1.3pp	56.4%-1.0pp	57.5%+5.2pp	52.3%+2.9pp	49.4%-4.4pp	53.7%+7.0pp	46.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	68.0%+1.5pp	67.2%+0.6pp	67.1%+4.0pp	65.7%+0.3pp	66.5%0.0pp	66.5%-0.7pp	63.1%+6.9pp	65.5%-1.5pp
Net Margin	20.0%-15.3pp	42.3%+10.6pp	22.1%-16.0pp	49.7%-1.0pp	35.3%+0.4pp	31.7%+7.4pp	38.1%+3.7pp	50.7%+26.1pp
Return on Equity	1.3%-0.9pp	2.8%+0.8pp	1.5%-0.9pp	3.2%+0.1pp	2.3%+0.1pp	2.0%+0.5pp	2.4%+0.3pp	3.1%+1.7pp
Return on Assets	0.7%-0.5pp	1.5%+0.3pp	0.8%-0.6pp	1.7%0.0pp	1.2%0.0pp	1.1%+0.3pp	1.3%+0.2pp	1.8%+0.9pp
Debt-to-Equity	0.750.0x	0.81+0.1x	0.80+0.1x	0.730.0x	0.720.0x	0.700.0x	0.680.0x	0.700.0x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.040.0x	0.040.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
AvalonBay Communities, Inc. AVB	FY2025	$3.0B	$1.1B	34.8%	$26.3B	65/100
Equity Residential EQR	FY2025	N/A	$1.1B	N/A	$23.9B	—
Essex Property Trust, Inc ESS	FY2025	$1.9B	$702.8M	37.2%	$17.5B	57/100
Invitation Homes Inc. INVH	FY2025	$2.7B	$587.9M	21.5%	$15.6B	40/100
Mid-America Apartment Communities, Inc. MAA	FY2025	$2.2B	$446.9M	20.2%	$13.6B	41/100
Sun Communities, Inc SUI	FY2025	$2.3B	$1.4B	61.3%	$13.7B	42/100

Where AvalonBay Communities, Inc. Ranks

Frequently Asked Questions

What is AvalonBay Communities, Inc.'s annual revenue?

AvalonBay Communities, Inc. (AVB) reported $3.0B in total revenue for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is AvalonBay Communities, Inc.'s revenue growing?

AvalonBay Communities, Inc. (AVB) revenue grew by 4.4% year-over-year, from $2.9B to $3.0B in fiscal year 2025.

Is AvalonBay Communities, Inc. profitable?

Yes, AvalonBay Communities, Inc. (AVB) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 34.8%.

What is AvalonBay Communities, Inc.'s EBITDA?

AvalonBay Communities, Inc. (AVB) had EBITDA of $2.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does AvalonBay Communities, Inc. have?

As of fiscal year 2025, AvalonBay Communities, Inc. (AVB) had $187.2M in cash and equivalents against $9.3B in long-term debt.

What is AvalonBay Communities, Inc.'s operating margin?

AvalonBay Communities, Inc. (AVB) had an operating margin of 66.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is AvalonBay Communities, Inc.'s net profit margin?

AvalonBay Communities, Inc. (AVB) had a net profit margin of 34.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does AvalonBay Communities, Inc. pay dividends?

Yes, AvalonBay Communities, Inc. (AVB) paid $7.00 per share in dividends during fiscal year 2025.

What is AvalonBay Communities, Inc.'s return on equity (ROE)?

AvalonBay Communities, Inc. (AVB) has a return on equity of 9.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is AvalonBay Communities, Inc.'s operating cash flow?

AvalonBay Communities, Inc. (AVB) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are AvalonBay Communities, Inc.'s total assets?

AvalonBay Communities, Inc. (AVB) had $22.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Does AvalonBay Communities, Inc. buy back shares?

Yes, AvalonBay Communities, Inc. (AVB) spent $488.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does AvalonBay Communities, Inc. have outstanding?

AvalonBay Communities, Inc. (AVB) had 140M shares outstanding as of fiscal year 2025.

What is AvalonBay Communities, Inc.'s debt-to-equity ratio?

AvalonBay Communities, Inc. (AVB) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is AvalonBay Communities, Inc.'s return on assets (ROA)?

AvalonBay Communities, Inc. (AVB) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is AvalonBay Communities, Inc.'s Piotroski F-Score?

AvalonBay Communities, Inc. (AVB) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are AvalonBay Communities, Inc.'s earnings high quality?

AvalonBay Communities, Inc. (AVB) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can AvalonBay Communities, Inc. cover its interest payments?

AvalonBay Communities, Inc. (AVB) has an interest coverage ratio of 7.80x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is AvalonBay Communities, Inc.?

AvalonBay Communities, Inc. (AVB) scores 65 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.