Avalonbay Cmntys Inc Financials
Avalonbay Cmntys Inc (AVB) reported $3.0B in revenue for fiscal year 2025, up 4.4% from the prior fiscal year. 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).
AvalonBay's property earnings look flatter than its cash generation because depreciation and reinvestment dominate the income statement.
From FY2023 to FY2025, operating cash flow rose from$1.56B to$1.67B even as reported earnings stayed near the same level, so the business's underlying cash engine improved more than net income suggests. With depreciation reaching$913M in FY2025 and interest expense also moving higher, more of the economics showed up in cash flow while net margin took the pressure.
Operating margin widened from
The balance sheet also became more debt-funded: debt to equity reached 0.8x in FY2025 and long-term debt climbed to
Financial Health Signals
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 Cmntys 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.
Not available for Avalonbay Cmntys Inc, and counted as zero in the overall score.
Avalonbay Cmntys 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.
For every $1 of reported earnings, Avalonbay Cmntys 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.
Avalonbay Cmntys 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
Earnings & Revenue
Avalonbay Cmntys Inc generated $3.0B in revenue in fiscal year 2025. This represents an increase of 4.4% from the prior year.
Avalonbay Cmntys Inc's EBITDA was $2.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.4% from the prior year.
Avalonbay Cmntys Inc reported $1.1B in net income in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
Avalonbay Cmntys Inc earned $7.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 2.6% from the prior year.
Cash & Balance Sheet
Avalonbay Cmntys Inc held $187.2M in cash against $9.3B in long-term debt as of fiscal year 2025.
Avalonbay Cmntys Inc paid $7.00 per share in dividends in fiscal year 2025. This represents an increase of 2.9% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Avalonbay Cmntys Inc's operating margin was 66.5% in fiscal year 2025, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Avalonbay Cmntys Inc's net profit margin was 34.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.
Avalonbay Cmntys Inc's ROE was 9.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. That is unchanged from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Avalonbay Cmntys Inc spent $488.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
AVB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 (Diluted) | — | $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 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AVB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.
AVB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AVB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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% |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
Similar Companies
Where Avalonbay Cmntys Inc Ranks
Frequently Asked Questions
What is Avalonbay Cmntys Inc's annual revenue?
Avalonbay Cmntys 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 Cmntys Inc's revenue growing?
Avalonbay Cmntys Inc (AVB) revenue grew by 4.4% year-over-year, from $2.9B to $3.0B in fiscal year 2025.
Is Avalonbay Cmntys Inc profitable?
Yes, Avalonbay Cmntys Inc (AVB) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 34.8%.
What is Avalonbay Cmntys Inc's EBITDA?
Avalonbay Cmntys Inc (AVB) had EBITDA of $2.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Avalonbay Cmntys Inc have?
As of fiscal year 2025, Avalonbay Cmntys Inc (AVB) had $187.2M in cash and equivalents against $9.3B in long-term debt.
What is Avalonbay Cmntys Inc's operating margin?
Avalonbay Cmntys 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 Cmntys Inc's net profit margin?
Avalonbay Cmntys 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 Cmntys Inc pay dividends?
Yes, Avalonbay Cmntys Inc (AVB) paid $7.00 per share in dividends during fiscal year 2025.
What is Avalonbay Cmntys Inc's return on equity (ROE)?
Avalonbay Cmntys 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 Cmntys Inc's operating cash flow?
Avalonbay Cmntys Inc (AVB) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Avalonbay Cmntys Inc's total assets?
Avalonbay Cmntys Inc (AVB) had $22.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Avalonbay Cmntys Inc's debt-to-equity ratio?
Avalonbay Cmntys 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 Cmntys Inc's return on assets (ROA)?
Avalonbay Cmntys 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 Cmntys Inc's Piotroski F-Score?
Avalonbay Cmntys 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 Cmntys Inc's earnings high quality?
Avalonbay Cmntys 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 Cmntys Inc cover its interest payments?
Avalonbay Cmntys 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 Cmntys Inc?
Avalonbay Cmntys Inc (AVB) scores 64 out of 100 on our Financial Health Score, indicating moderate 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.