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EQR Financials Equity Residential

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 Overview →

Growth & profitability

  • Revenue has grown 0.7% per year over the past 5 years.
  • Net income has grown faster than revenue (4.2% vs 0.7% per year).
  • Free cash flow has declined 0.0% per year over the past 5 years.

Financial health

  • Total debt ($8.8B) exceeds cash ($56M); net debt is $8.8B.
  • Total debt has grown in line with revenue (0.7% vs 0.7% per year).

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 93.4% of earnings.
  • The dividend has grown 3.4% per year over the past 5 years.
Revenue & net income
$0 $2B $4B 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 88% 177% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $676M $1B 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $5B $10B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$7B -$575M $6B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 — $1.1B — — — $8.8B $56M
2024 — $1.0B — — — $8.7B $62M
2023 — $835M — — — $7.9B $51M
2022 — $777M — — — $9.0B $54M
2021 — $1.3B — — — $9.4B $124M
2020 — $914M — — — $8.5B $43M
2019 $2.7B $970M 0.0% 50.2% — $10.1B $46M
2018 $2.6B $658M 0.0% 43.2% $1.4B $9.4B $47M
2017 $2.5B $603M 0.0% 40.6% $1.3B $9.1B $51M
2016 $2.4B $4.3B 0.0% 35.3% $1.2B — $77M
2015 $2.7B $870M 0.0% 36.8% $1.4B — $42M
2014 $2.6B $631M 0.0% 35.2% — — $40M
2013 $2.4B $1.8B 0.0% 21.5% — — $54M
2012 $1.7B $842M 0.0% 29.4% — — $613M
2011 $1.5B $894M 0.0% 26.7% — — $384M

Valuation over time

How the market has priced EQR 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.

Price / earnings (P/E)
0.0 17.2 34.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Dividend yield (%)
0.0 2.4 4.7 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is EQR growing its revenue and profit?

Over the past 5 years, Equity Residential's revenue has grown 0.7% per year, and net income grown 4.2% per year. These are computed facts, not advice.

How much debt does EQR have?

As of FY2025, Equity Residential reported $8.8B of total debt against $56M of cash.

What is EQR's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin —.

What is EQR's P/E ratio?

As of Jun '26, Equity Residential traded at a price-to-earnings ratio of about 22.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.