Essex Ppty Tr Inc Financials
Essex Ppty Tr Inc (ESS) reported $1.9B in revenue for fiscal year 2025, up 6.4% 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).
Steady property cash flow is doing most of the work, while accounting earnings move around a much smoother engine.
Across the recent period, operating cash flow stayed in a tight band of$980M to$1.07B while net income swung far more, so the asset base is producing steadier cash than earnings alone suggest. With annual depreciation above$607M , reported profit is shaped heavily by non-cash charges, which is why cash generation looks more stable than the headline earnings line.
Because gross margin held near
The balance sheet remains asset-heavy and leveraged: cash is only
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 Essex Ppty Tr 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 Essex Ppty Tr Inc, and counted as zero in the overall score.
Not available for Essex Ppty Tr Inc, and counted as zero in the overall score.
Essex Ppty Tr 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, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Essex Ppty Tr Inc generates $1.53 in operating cash flow ($1.1B OCF vs $702.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Essex Ppty Tr Inc earns $3.48 in operating income for every $1 of interest expense ($899.3M vs $258.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Essex Ppty Tr Inc generated $1.9B in revenue in fiscal year 2025. This represents an increase of 6.4% from the prior year.
Essex Ppty Tr Inc's EBITDA was $1.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.4% from the prior year.
Essex Ppty Tr Inc reported $702.8M in net income in fiscal year 2025. This represents a decrease of 13.4% from the prior year.
Essex Ppty Tr Inc earned $10.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 9.9% from the prior year.
Cash & Balance Sheet
Essex Ppty Tr Inc held $76.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Essex Ppty Tr Inc paid $10.28 per share in dividends in fiscal year 2025. This represents an increase of 4.9% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Essex Ppty Tr Inc's gross margin was 69.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Essex Ppty Tr Inc's operating margin was 47.6% in fiscal year 2025, reflecting core business profitability. This is up 8.0 percentage points from the prior year.
Essex Ppty Tr Inc's net profit margin was 37.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.5 percentage points from the prior year.
Essex Ppty Tr Inc's ROE was 12.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.0 percentage points from the prior year.
Capital Allocation
Essex Ppty Tr Inc repurchased no shares in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
ESS 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 | $1.9B | $1.9B+6.4% | $1.8B+6.3% | $1.7B+3.9% | $1.6B+11.5% | $1.4B-3.7% | $1.5B+2.4% | $1.5B+4.3% | $1.4B+2.7% | $1.4B+5.4% | $1.3B+8.3% | $1.2B+23.0% | $970.9M+59.0% | $610.6M+14.1% | $535.2M+13.3% | $472.5M |
| Gross Profit | $1.4B | $1.3B+6.1% | $1.2B+6.2% | $1.2B+3.7% | $1.1B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $131.7M | $71.9M-27.3% | $98.9M+55.8% | $63.5M+12.2% | $56.6M+9.1% | $51.8M-20.7% | $65.4M+20.5% | $54.3M+1.5% | $53.5M+29.2% | $41.4M+1.6% | $40.8M+1.6% | $40.1M-1.9% | $40.9M+53.2% | $26.7M+8.6% | $24.6M+18.7% | $20.7M |
| Operating Income | $627.1M | $899.3M+27.9% | $703.1M+20.3% | $584.3M-1.8% | $595.2M+12.3% | $530.0M+7.8% | $491.4M+2.1% | $481.1M-6.0% | $512.0M+8.3% | $472.9M+12.4% | $420.8M+27.1% | $331.2M+64.3% | $201.5M+6.8% | $188.7M+13.0% | $167.0M+22.3% | $136.5M |
| Interest Expense | $262.8M | $258.4M+9.7% | $235.5M+10.6% | $212.9M+4.0% | $204.8M+0.8% | $203.1M-7.9% | $220.6M+1.5% | $217.3M-1.4% | $220.5M-1.1% | $222.9M+1.5% | $219.7M+7.2% | $204.8M+24.5% | $164.6M+41.2% | $116.5M+4.1% | $111.9M+22.0% | $91.7M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0+100.0% | -$1.7M |
| Net Income | $437.6M | $702.8M-13.4% | $811.3M+88.4% | $430.7M-0.5% | $433.0M-16.0% | $515.7M-14.0% | $599.3M+29.0% | $464.4M+19.0% | $390.2M-9.9% | $433.1M+4.4% | $415.0M+78.8% | $232.1M+90.0% | $122.2M-21.8% | $156.3M+24.7% | $125.3M+166.2% | $47.1M |
| EPS (Diluted) | — | $10.40-9.9% | $11.54+82.6% | $6.32+0.8% | $6.27-16.5% | $7.51-13.6% | $8.69+30.5% | $6.66+12.9% | $5.90-10.2% | $6.57+4.8% | $6.27+79.7% | $3.49+69.4% | $2.06 | $4.04+18.5% | $3.41+175.0% | $1.24 |
Not reported in any period shown, so not listed: Cost of Revenue, 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.
ESS 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 | $13.2B+1.8% | $12.9B+4.6% | $12.4B-0.1% | $12.4B-4.8% | $13.0B+0.5% | $12.9B+1.8% | $12.7B+2.6% | $12.4B-0.9% | $12.5B+2.3% | $12.2B+1.7% | $12.0B+4.2% | $11.5B+122.2% | $5.2B+7.0% | $4.8B+20.1% | $4.0B |
| Cash & Equivalents | $76.2M+14.1% | $66.8M-82.9% | $391.7M+1076.6% | $33.3M-31.2% | $48.4M-34.2% | $73.6M+5.1% | $70.1M-47.9% | $134.5M+201.4% | $44.6M-31.3% | $64.9M+118.7% | $29.7M+15.9% | $25.6M+38.5% | $18.5M-0.6% | $18.6M+44.4% | $12.9M |
| Total Liabilities | $7.4B+3.4% | $7.2B+6.5% | $6.7B+4.4% | $6.5B-5.0% | $6.8B+1.0% | $6.7B+7.3% | $6.3B+5.2% | $6.0B-1.7% | $6.1B+3.0% | $5.9B+4.5% | $5.6B+4.8% | $5.4B+68.6% | $3.2B+7.5% | $3.0B+19.5% | $2.5B |
| Long-Term Debt | N/A | N/A | N/A | N/A | $639.0M-0.7% | $643.5M-35.0% | $990.7M-45.2% | $1.8B-10.0% | $2.0B-8.4% | $2.2B-1.1% | $2.2B-0.9% | $2.2B+59.1% | $1.4B-10.3% | $1.6B-10.3% | $1.7B |
| Total Equity | $5.5B+0.1% | $5.5B+2.1% | $5.4B-5.1% | $5.7B-4.6% | $6.0B-0.1% | $6.0B-3.5% | $6.2B-0.7% | $6.3B-0.2% | $6.3B+1.4% | $6.2B-0.7% | $6.2B+3.6% | $6.0B+219.6% | $1.9B+6.8% | $1.8B+22.8% | $1.4B |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Retained Earnings.
ESS 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 | $1.1B | $1.1B+0.6% | $1.1B+9.0% | $980.1M+0.5% | $975.6M+7.8% | $905.3M+12.7% | $803.1M-12.6% | $919.1M+11.2% | $826.6M+7.4% | $769.6M+7.4% | $716.8M+16.0% | $618.2M+25.3% | $493.3M+61.8% | $305.0M+14.0% | $267.5M+23.5% | $216.6M |
| Investing Cash Flow | -$275.0M | -$552.5M+43.2% | -$973.1M-570.4% | -$145.1M-199.4% | $146.0M+136.7% | -$397.4M+4.7% | -$416.9M+21.0% | -$527.7M-781.1% | -$59.9M+89.5% | -$567.9M-37.5% | -$413.1M+43.1% | -$725.6M+36.8% | -$1.1B-152.8% | -$453.7M+44.1% | -$812.1M-90.7% | -$425.8M |
| Financing Cash Flow | -$844.5M | -$512.2M-22.0% | -$419.7M+12.1% | -$477.3M+58.0% | -$1.1B-113.3% | -$533.3M-39.1% | -$383.3M+17.0% | -$461.7M+31.7% | -$676.4M-117.6% | -$310.8M-21.2% | -$256.5M-338.7% | $107.5M-79.4% | $520.6M+250.3% | $148.6M-73.0% | $550.4M+164.2% | $208.3M |
| Share Buybacks | N/A | $0 | $0-100.0% | $95.7M-49.6% | $189.7M+1968.5% | $9.2M-96.6% | $269.3M+372.6% | $57.0M+11.2% | $51.2M | $0-100.0% | $1.0M | $0 | $0 | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
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.
ESS 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9%-0.1pp | 70.0%-0.1pp | 70.1%-0.1pp | 70.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 47.6%+8.0pp | 39.6%+4.6pp | 35.0%-2.0pp | 37.0%+0.3pp | 36.8%+3.9pp | 32.9%-0.1pp | 33.0%-3.6pp | 36.6%+1.9pp | 34.7%+2.2pp | 32.5%+4.8pp | 27.7%+7.0pp | 20.8%-10.2pp | 30.9%-0.3pp | 31.2%+2.3pp | 28.9% |
| Net Margin | 37.2%-8.5pp | 45.7%+19.9pp | 25.8%-1.2pp | 27.0%-8.8pp | 35.8%-4.3pp | 40.1%+8.3pp | 31.8%+3.9pp | 27.9%-3.9pp | 31.8%-0.3pp | 32.1%+12.6pp | 19.4%+6.9pp | 12.6%-13.0pp | 25.6%+2.2pp | 23.4%+13.5pp | 10.0% |
| Return on Equity | 12.7%-2.0pp | 14.6%+6.7pp | 7.9%+0.4pp | 7.6%-1.0pp | 8.6%-1.4pp | 10.0%+2.5pp | 7.5%+1.2pp | 6.2%-0.7pp | 6.9%+0.2pp | 6.7%+3.0pp | 3.7%+1.7pp | 2.0%-6.3pp | 8.3%+1.2pp | 7.1%+3.8pp | 3.3% |
| Return on Assets | 5.3%-0.9pp | 6.3%+2.8pp | 3.5%0.0pp | 3.5%-0.5pp | 4.0%-0.7pp | 4.6%+1.0pp | 3.7%+0.5pp | 3.1%-0.3pp | 3.5%+0.1pp | 3.4%+1.5pp | 1.9%+0.9pp | 1.1%-1.9pp | 3.0%+0.4pp | 2.6%+1.4pp | 1.2% |
| Debt-to-Equity | 1.340.0x | 1.30+0.1x | 1.24+0.1x | 1.13+1.0x | 0.110.0x | 0.11-0.1x | 0.16-0.1x | 0.290.0x | 0.320.0x | 0.350.0x | 0.360.0x | 0.37-0.4x | 0.74-0.1x | 0.89-0.3x | 1.21 |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
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Where Essex Ppty Tr Inc Ranks
Frequently Asked Questions
What is Essex Ppty Tr Inc's annual revenue?
Essex Ppty Tr Inc (ESS) reported $1.9B in total revenue for fiscal year 2025. This represents a 6.4% 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 Essex Ppty Tr Inc's revenue growing?
Essex Ppty Tr Inc (ESS) revenue grew by 6.4% year-over-year, from $1.8B to $1.9B in fiscal year 2025.
Is Essex Ppty Tr Inc profitable?
Yes, Essex Ppty Tr Inc (ESS) reported a net income of $702.8M in fiscal year 2025, with a net profit margin of 37.2%.
What is Essex Ppty Tr Inc's EBITDA?
Essex Ppty Tr Inc (ESS) had EBITDA of $1.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Essex Ppty Tr Inc's gross margin?
Essex Ppty Tr Inc (ESS) had a gross margin of 69.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Essex Ppty Tr Inc's operating margin?
Essex Ppty Tr Inc (ESS) had an operating margin of 47.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Essex Ppty Tr Inc's net profit margin?
Essex Ppty Tr Inc (ESS) had a net profit margin of 37.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Essex Ppty Tr Inc pay dividends?
Yes, Essex Ppty Tr Inc (ESS) paid $10.28 per share in dividends during fiscal year 2025.
What is Essex Ppty Tr Inc's return on equity (ROE)?
Essex Ppty Tr Inc (ESS) has a return on equity of 12.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Essex Ppty Tr Inc's operating cash flow?
Essex Ppty Tr Inc (ESS) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Essex Ppty Tr Inc's total assets?
Essex Ppty Tr Inc (ESS) had $13.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Essex Ppty Tr Inc's debt-to-equity ratio?
Essex Ppty Tr Inc (ESS) had a debt-to-equity ratio of 1.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Essex Ppty Tr Inc's return on assets (ROA)?
Essex Ppty Tr Inc (ESS) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Essex Ppty Tr Inc's Piotroski F-Score?
Essex Ppty Tr Inc (ESS) 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 Essex Ppty Tr Inc's earnings high quality?
Essex Ppty Tr Inc (ESS) has an earnings quality ratio of 1.53x, 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 Essex Ppty Tr Inc cover its interest payments?
Essex Ppty Tr Inc (ESS) has an interest coverage ratio of 3.48x, meaning it can adequately 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 Essex Ppty Tr Inc?
Essex Ppty Tr Inc (ESS) scores 57 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.