Equity Residential Financials
Equity Residential (EQR) reported $1.9B in revenue for fiscal year 2009, down 1.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Cash generation funded balance-sheet repair while operating margins recovered despite essentially flat revenue and persistent interest costs.
Between FY2008 and FY2009, revenue fell1.6% while operating margin widened4.0 percentage points , pointing to operating efficiency or mix rather than volume as the main driver. Net margin still narrowed to19.7% as interest expense reached$503.8M , showing financing costs captured much of the operating recovery.
Operating cash flow conversion was stronger than the income statement alone suggests: FY2009 operating cash flow of
Liabilities declined between FY2008 and FY2009, while debt-to-equity moved from 2.1x to 1.8x. That combination suggests financing outflows coincided with a less debt-intensive balance sheet, rather than representing only a reduction in available liquidity.
Financial Health Signals
Equity Residential does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Equity Residential passes 4 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Equity Residential generates $1.76 in operating cash flow ($672.5M OCF vs $382.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Equity Residential earns $1.05 in operating income for every $1 of interest expense ($529.4M vs $503.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Equity Residential generated $1.9B in revenue in fiscal year 2009. This represents a decrease of 1.6% from the prior year.
Equity Residential's EBITDA was $1.1B in fiscal year 2009, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.2% from the prior year.
Equity Residential reported $382.6M in net income in fiscal year 2009. This represents a decrease of 11.8% from the prior year.
Not reported for fiscal year 2009.
Cash & Balance Sheet
Equity Residential held $193.3M in cash as of fiscal year 2009; long-term debt is not reported for that period.
Not reported for fiscal year 2009.
Not reported for fiscal year 2009.
Margins & Returns
Equity Residential's operating margin was 27.2% in fiscal year 2009, reflecting core business profitability. This is up 4.0 percentage points from the prior year.
Equity Residential's net profit margin was 19.7% in fiscal year 2009, showing the share of revenue converted to profit. This is down 2.3 percentage points from the prior year.
Equity Residential's ROE was 7.0% in fiscal year 2009, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.
Not reported for fiscal year 2009.
Capital Allocation
None of these metrics is reported for fiscal year 2009.
EQR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY09 | FY08 | FY07 |
|---|---|---|---|
| Revenue | $1.9B-1.6% | $2.0B+8.3% | $1.8B |
| SG&A Expenses | $39.0M-13.3% | $45.0M-3.9% | $46.8M |
| Operating Income | $529.4M+15.5% | $458.2M-7.5% | $495.4M |
| Interest Expense | $503.8M+2.9% | $489.5M0.0% | $489.3M |
| Income Tax | $2.8M-46.9% | $5.3M+109.8% | $2.5M |
| Net Income | $382.6M-11.8% | $433.8M-58.5% | $1.0B |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EPS (Diluted).
EQR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY09 | FY08 | FY07 |
|---|---|---|---|
| Total Assets | $15.4B-6.8% | $16.5B | N/A |
| Cash & Equivalents | $193.3M-78.3% | $890.8M+1652.5% | $50.8M |
| Total Liabilities | $10.0B-10.9% | $11.2B | N/A |
| Total Equity | $5.4B+1.9% | $5.3B | N/A |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Long-Term Debt, Retained Earnings.
EQR 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 | FY09 | FY08 | FY07 |
|---|---|---|---|
| Operating Cash Flow | $672.5M-11.0% | $755.3M-4.8% | $793.2M |
| Investing Cash Flow | $103.6M+130.1% | -$344.0M-71.4% | -$200.7M |
| Financing Cash Flow | -$1.5B-443.7% | $428.7M+153.5% | -$801.9M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
EQR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY09 | FY08 | FY07 |
|---|---|---|---|
| Operating Margin | 27.2%+4.0pp | 23.2%-4.0pp | 27.2% |
| Net Margin | 19.7%-2.3pp | 22.0%-35.3pp | 57.3% |
| Return on Equity | 7.0%-1.1pp | 8.1% | N/A |
| Return on Assets | 2.5%-0.1pp | 2.6% | N/A |
| Debt-to-Equity | 1.84-0.3x | 2.10 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
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Where Equity Residential Ranks
Frequently Asked Questions
What is Equity Residential's annual revenue?
Equity Residential (EQR) reported $1.9B in total revenue for fiscal year 2009. This represents a -1.6% 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 Equity Residential's revenue growing?
Equity Residential (EQR) revenue declined by 1.6% year-over-year, from $2.0B to $1.9B in fiscal year 2009.
Is Equity Residential profitable?
Yes, Equity Residential (EQR) reported a net income of $382.6M in fiscal year 2009, with a net profit margin of 19.7%.
What is Equity Residential's EBITDA?
Equity Residential (EQR) had EBITDA of $1.1B in fiscal year 2009, measuring earnings before interest, taxes, depreciation, and amortization.
What is Equity Residential's operating margin?
Equity Residential (EQR) had an operating margin of 27.2% in fiscal year 2009, reflecting the profitability of core business operations before interest and taxes.
What is Equity Residential's net profit margin?
Equity Residential (EQR) had a net profit margin of 19.7% in fiscal year 2009, representing the share of revenue converted into profit after all expenses.
What is Equity Residential's return on equity (ROE)?
Equity Residential (EQR) has a return on equity of 7.0% for fiscal year 2009, measuring how efficiently the company generates profit from shareholder equity.
What is Equity Residential's operating cash flow?
Equity Residential (EQR) generated $672.5M in operating cash flow during fiscal year 2009, representing cash generated from core business activities.
What are Equity Residential's total assets?
Equity Residential (EQR) had $15.4B in total assets as of fiscal year 2009, including both current and long-term assets.
What is Equity Residential's debt-to-equity ratio?
Equity Residential (EQR) had a debt-to-equity ratio of 1.84 as of fiscal year 2009, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Equity Residential's return on assets (ROA)?
Equity Residential (EQR) had a return on assets of 2.5% for fiscal year 2009, measuring how efficiently the company uses its assets to generate profit.
What is Equity Residential's Piotroski F-Score?
Equity Residential (EQR) has a Piotroski F-Score of 4 out of 5 computable signals; 4 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 Equity Residential's earnings high quality?
Equity Residential (EQR) has an earnings quality ratio of 1.76x, 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 Equity Residential cover its interest payments?
Equity Residential (EQR) has an interest coverage ratio of 1.05x, meaning it can struggle to 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.