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 declined 0.5% per year over the past 5 years.
Net income has grown faster than revenue (3.2% vs -0.5% per year).
Operating margin has expanded, at 9586.6% in the latest year.
Financial health
Total debt has grown slower than revenue (-21.8% vs -0.5% per year).
Operating income covered interest expense 3.5× in the latest year.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
2025
$9M
$703M
14060.1%
9586.6%
—
—
$76M
2024
$10M
$811M
12105.7%
6849.4%
—
—
$67M
2023
$11M
$431M
10515.7%
5249.7%
—
—
$392M
2022
$11M
$433M
10130.2%
5343.6%
—
—
$33M
2021
$9M
$516M
0.0%
5799.9%
—
$639M
$48M
2020
$10M
$599M
0.0%
5120.2%
—
$644M
$74M
2019
$10M
$464M
0.0%
5050.0%
—
$991M
$70M
2018
$9M
$414M
0.0%
5575.4%
—
$1.8B
$134M
2017
—
$458M
—
—
—
$2.0B
$45M
2016
—
$438M
—
—
—
$2.2B
$65M
2015
—
$248M
—
—
—
$2.2B
$30M
2014
—
$134M
—
—
—
$2.2B
$26M
2013
—
$172M
—
—
—
$1.4B
$18M
2012
—
$140M
—
—
—
$1.6B
$19M
2011
—
$58M
—
—
—
$1.7B
$13M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$2M
$112M
14750.8%
6709.6%
—
$6.8B
$38M
Dec '25
$2M
$86M
14582.0%
6606.0%
—
—
$76M
Sep '25
$2M
$173M
13871.5%
8911.4%
—
$6.4B
$66M
Jun '25
$2M
$232M
14942.9%
12582.1%
—
$6.4B
$59M
Mar '25
$2M
$213M
12969.8%
10308.0%
—
$6.8B
$99M
Dec '24
$2M
$302M
13176.4%
12603.3%
—
—
$67M
Sep '24
$3M
$125M
12225.6%
5025.0%
—
$6.4B
$71M
Jun '24
$3M
$99M
12174.4%
5342.0%
—
$6.2B
$55M
Mar '24
$3M
$285M
10973.7%
4878.7%
—
$6.6B
$499M
Dec '23
$3M
$70M
0.0%
4650.1%
—
—
$392M
Sep '23
$3M
$93M
0.0%
4731.9%
—
$6.2B
$392M
Jun '23
$3M
$106M
0.0%
4853.6%
—
$5.9B
$61M
Mar '23
$3M
$162M
0.0%
6777.0%
—
$5.9B
$68M
Dec '22
$3M
$194M
0.0%
8073.0%
—
—
$33M
Sep '22
$3M
$99M
0.0%
4456.3%
—
$6.0B
$43M
Jun '22
$3M
$62M
0.0%
4697.9%
—
$6.0B
$38M
Mar '22
$3M
$78M
0.0%
4085.2%
—
$6.0B
$98M
Dec '21
$2M
$144M
0.0%
4165.4%
—
$639M
$48M
Sep '21
$2M
$125M
0.0%
6167.7%
—
$6.1B
$50M
Jun '21
$2M
$70M
0.0%
4204.5%
—
$6.1B
$48M
Valuation over time
How the market has priced ESS 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 fallen from 31.1× (Mar '23) to 26.1× (Jun '26).
The price-to-sales ratio has risen from 1207.4× (Mar '23) to 1955.6× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is ESS growing its revenue and profit?
Over the past 5 years, Essex Property Trust's revenue has declined 0.5% per year, and net income grown 3.2% per year. These are computed facts, not advice.
How much debt does ESS have?
As of FY2025, Essex Property Trust reported — of total debt against $76M of cash; operating income covered interest expense 3.5×.
What is ESS's profit margin?
In FY2025, gross margin was 14060.1%, operating margin 9586.6%, and net margin 7491.5%.
What is ESS's P/E ratio?
As of Jun '26, Essex Property Trust traded at a price-to-earnings ratio of about 26.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S 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.