AVB Financials AvalonBay Communities

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 4, 2026, 19:38 UTC Overview →

Growth & profitability

Revenue has grown 13.0% per year over the past 5 years.
Net income has grown slower than revenue (5.0% vs 13.0% per year).
Operating margin has contracted, at 28698.5% in the latest year.
Free cash flow has grown 8.4% per year over the past 5 years.

Financial health

Total debt ($10.1B) exceeds cash ($187M); net debt is $9.9B.
Total debt has grown slower than revenue (5.7% vs 13.0% per year).
Operating income covered interest expense 7.8× in the latest year, up from 6.9× 5 years ago.
Total debt is 5.0× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$7M	$1.1B	0.0%	28698.5%	9.1%	4.8%	—	$10.1B	$187M
2024	$7M	$1.1B	0.0%	26974.7%	9.1%	5.2%	—	$8.1B	$109M
2023	$8M	$928M	0.0%	23190.7%	7.9%	4.5%	—	$8.0B	$398M
2022	$6M	$1.1B	0.0%	26865.9%	10.1%	5.6%	—	$8.3B	$613M
2021	$3M	$1.0B	0.0%	47239.8%	9.2%	5.0%	—	$8.1B	$420M
2020	$4M	$828M	0.0%	38555.1%	7.7%	4.3%	—	$7.6B	$217M
2019	$5M	$786M	0.0%	31288.1%	7.2%	4.1%	$1.3B	$7.4B	$40M
2018	$4M	$974M	0.0%	41577.0%	9.2%	5.3%	$1.3B	$7.1B	$92M
2017	$4M	$877M	0.0%	33734.7%	—	4.8%	$1.2B	$7.4B	$67M
2016	$6M	$1.0B	0.0%	23468.2%	—	5.8%	$1.2B	$7.1B	$215M
2015	—	$742M	—	—	—	4.4%	$1.1B	$6.5B	$401M
2014	—	$697M	—	—	7.7%	4.3%	$881M	$6.4B	$509M
2013	—	$353M	—	—	4.1%	2.3%	$722M	$6.0B	$281M
2012	—	$424M	—	—	6.2%	3.8%	$538M	$3.9B	$2.7B
2011	—	$441M	—	—	10.0%	5.2%	$421M	$3.6B	$617M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$2M	$156M	0.0%	29699.4%	1.3%	0.7%	—	$9.9B	$81M
Mar '26	$2M	$326M	0.0%	28232.0%	2.8%	1.5%	—	$10.1B	$121M
Dec '25	$2M	—	0.0%	27716.3%	0.0%	0.0%	—	$10.1B	$187M
Sep '25	$2M	$381M	0.0%	26939.9%	3.2%	1.7%	—	$9.0B	$123M
Jun '25	$2M	$269M	0.0%	31728.1%	2.2%	1.2%	—	$9.3B	$103M
Mar '25	$2M	$237M	0.0%	28495.7%	—	1.1%	—	$8.5B	$53M
Dec '24	$2M	$282M	0.0%	27769.3%	2.4%	1.3%	—	$8.1B	$109M
Sep '24	$2M	$373M	0.0%	28006.5%	—	1.7%	—	$8.4B	$552M
Jun '24	$2M	$254M	0.0%	26407.6%	—	1.2%	—	$8.4B	$546M
Mar '24	$2M	$173M	0.0%	26692.0%	—	0.8%	—	$8.0B	$288M
Dec '23	$2M	—	0.0%	23402.5%	0.0%	0.0%	—	$8.0B	$398M
Sep '23	$2M	—	0.0%	24150.1%	0.0%	0.0%	—	$8.0B	$509M
Jun '23	$3M	—	0.0%	17170.8%	0.0%	0.0%	—	$8.1B	$770M
Mar '23	$1M	—	0.0%	43374.0%	0.0%	0.0%	—	$8.1B	$254M
Dec '22	$3M	—	0.0%	14014.0%	0.0%	0.0%	—	$8.3B	$613M
Sep '22	$1M	—	0.0%	31665.3%	0.0%	0.0%	—	$8.1B	$201M
Jun '22	$904000	—	0.0%	48195.2%	0.0%	0.0%	—	$8.1B	$153M
Mar '22	$752000	—	0.0%	54483.1%	0.0%	0.0%	—	$8.1B	$343M
Dec '21	$704000	—	0.0%	57175.1%	0.0%	0.0%	—	$8.1B	$420M
Sep '21	$695000	—	0.0%	53512.7%	0.0%	0.0%	—	$7.8B	$322M

Valuation over time

How the market has priced AVB against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 21.1× (Mar '23) to 24.9× (Aug '26).
The price-to-sales ratio has fallen from 3794.2× (Mar '23) to 3733.0× (Aug '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is AVB growing its revenue and profit?

Over the past 5 years, AvalonBay Communities's revenue has grown 13.0% per year, and net income grown 5.0% per year. These are computed facts, not advice.

How much debt does AVB have?

As of FY2025, AvalonBay Communities reported $10.1B of total debt against $187M of cash; operating income covered interest expense 7.8×.

What is AVB's profit margin?

In FY2025, gross margin was —, operating margin 28698.5%, and net margin 15004.2%.

What is AVB's P/E ratio?

AvalonBay Communities's P/E (TTM) is 24.88 as of the 2026-08-14 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AVB stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.9× as of Aug '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.