financial statements

The full income statement, balance sheet, and cash-flow statement for Equity Residential Common Shares of Beneficial Interest (EQR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.02B YoY+5.5%	962M YoY+3.8%	927M YoY+6.2%	872M YoY+2.5%	851M
Selling, general & administrative	65.3M YoY+5.9%	61.7M YoY+1.5%	60.7M YoY+3.4%	58.7M YoY+3.9%	56.5M YoY+17.0%
General & administrative	65.3M YoY+5.9%	61.7M YoY+1.5%	60.7M YoY+3.4%	58.7M YoY+3.9%	56.5M YoY+17.0%
Operating income	—	—	1.16B YoY+4.0%	1.12B YoY-33.4%	1.68B YoY+27.2%
Equity-method income	-18.9M YoY-110.8%	-8.97M YoY-66.9%	-5.38M YoY-6.9%	-5.03M YoY-48.1%	-3.40M YoY-3.5%
Pre-tax income	1.17B YoY+8.4%	1.08B YoY+23.6%	875M YoY+7.6%	813M YoY-42.0%	1.40B YoY+50.3%
Income tax	1.58M YoY+26.2%	1.26M YoY+9.4%	1.15M YoY+27.6%	900K YoY-1.6%	915K YoY+7.4%
	1.12B YoY+8.1%	1.04B YoY+24.0%	835M YoY+7.5%	777M YoY-41.7%	1.33B YoY+45.9%
Net income to non-controlling interest	27.4M YoY-5.3%	28.9M YoY+8.3%	26.7M YoY+1.5%	26.3M YoY-42.7%	45.9M YoY+35.0%
Preferred dividends	1.42M YoY-11.8%	1.61M YoY-47.8%	3.09M YoY+0.0%	3.09M YoY+0.0%	3.09M YoY+0.0%
Net income to common	1.12B YoY+8.3%	1.03B YoY+24.1%	832M YoY+7.6%	774M YoY-41.8%	1.33B YoY+46.0%
	$2.94 YoY+8.1%	$2.72 YoY+23.6%	$2.20 YoY+7.3%	$2.05 YoY-42.1%	$3.54 YoY+44.5%
EPS (basic)	$2.95 YoY+8.1%	$2.73 YoY+24.1%	$2.20 YoY+6.8%	$2.06 YoY-42.1%	$3.56 YoY+45.3%
Weighted-avg shares (basic)	380M YoY+0.2%	379M YoY+0.0%	379M YoY+0.7%	376M YoY+0.6%	374M YoY+0.5%
Weighted-avg shares (diluted)	390M YoY-0.1%	391M YoY-0.0%	391M YoY+0.4%	389M YoY+0.4%	388M YoY+0.6%
Dividends per share	$2.77 YoY+2.6%	$2.70 YoY+1.9%	$2.65 YoY+6.0%	$2.50	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	55.9M YoY-10.3%	62.3M YoY+22.8%	50.7M YoY-5.8%	53.9M YoY-56.5%	124M YoY+190.7%
	20.7B YoY-0.4%	20.8B YoY+4.0%	20.0B YoY-0.9%	20.2B YoY-4.5%	21.2B YoY+4.3%
Operating lease right-of-use	364M YoY+0.3%	363M YoY-0.0%	363M YoY-21.6%	463M YoY-2.5%	475M YoY-4.9%
Intangible assets	163M YoY+0.0%	163M YoY+0.0%	163M YoY+0.0%	163M YoY+0.0%	163M YoY+0.0%
	9.34B YoY+0.9%	9.25B YoY+9.4%	8.46B YoY-0.7%	8.52B YoY-10.2%	9.48B YoY+3.3%
Long-term debt	8.24B YoY+0.6%	8.19B YoY+9.8%	7.46B YoY-0.4%	7.49B YoY-11.0%	8.42B YoY+3.6%
	11.0B YoY-0.0%	11.0B YoY-0.4%	11.1B YoY-0.8%	11.2B YoY+2.0%	11.0B YoY+4.1%
Preferred stock	17.2M YoY+0.0%	17.2M YoY-54.0%	37.3M YoY+0.0%	37.3M YoY+0.0%	37.3M YoY+0.0%
Common stock	3.78M YoY-0.4%	3.79M YoY+0.1%	3.79M YoY+0.2%	3.78M YoY+0.8%	3.75M YoY+0.9%
Additional paid-in capital	9.82B YoY+2.2%	9.61B YoY+0.1%	9.60B YoY+1.3%	9.48B YoY+3.9%	9.12B YoY-0.1%
Retained earnings	1.19B YoY-15.2%	1.41B YoY-2.1%	1.44B YoY-13.4%	1.66B YoY-9.2%	1.83B YoY+30.5%
Accumulated other comprehensive income	2.17M YoY-48.4%	4.21M YoY-26.1%	5.70M YoY+323.9%	-2.55M YoY+92.6%	-34.3M YoY+21.5%
Non-controlling interest	191M YoY-4.9%	201M YoY-1.0%	203M YoY-2.8%	209M YoY-9.9%	232M YoY-2.3%
Total equity incl. non-controlling	11.2B YoY-0.1%	11.2B YoY-0.4%	11.3B YoY-0.8%	11.4B YoY+1.7%	11.2B YoY+3.9%
Total liabilities & equity	20.7B YoY-0.4%	20.8B YoY+4.0%	20.0B YoY-0.9%	20.2B YoY-4.5%	21.2B YoY+4.3%
Common shares issued	378M YoY-0.4%	379M YoY+0.0%	379M YoY+0.2%	378M YoY+0.8%	376M YoY+0.9%
Common shares outstanding	378M YoY-0.4%	379M YoY+0.0%	379M YoY+0.2%	378M YoY+0.8%	376M YoY+0.9%
Shares outstanding (cover)	380M YoY+0.3%	379M YoY-0.1%	380M YoY+0.5%	378M YoY+0.8%	375M YoY+0.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.65B YoY+4.8%	1.57B YoY+2.7%	1.53B YoY+5.4%	1.45B YoY+15.4%	1.26B YoY-0.4%
Depreciation & amortization	1.01B YoY+6.1%	952M YoY+7.1%	889M YoY+0.7%	882M YoY+5.2%	838M YoY+2.1%
Share-based compensation	32.2M YoY+3.0%	31.3M YoY-1.7%	31.8M YoY+7.8%	29.5M YoY+6.1%	27.8M YoY+20.0%
Cash from investing	-321M YoY+72.7%	-1.18B YoY-187.3%	-410M YoY-479.9%	108M YoY+124.8%	-435M YoY-165.5%
	-1.33B YoY-252.5%	-377M YoY+66.4%	-1.12B YoY+37.3%	-1.79B YoY-216.0%	-565M YoY+71.0%
Long-term debt repaid	6.80M YoY+11.5%	6.10M YoY+81.9%	3.35M YoY-1.1%	3.39M YoY-54.6%	7.46M YoY-3.8%
Common stock issued	—	—	—	140M	—
Common stock repurchased	281M YoY+629.6%	38.5M YoY-21.6%	49.1M	—	—
Dividends paid	1.05B YoY+2.7%	1.02B YoY+2.9%	990M YoY+6.3%	932M YoY+3.5%	900M YoY+1.9%
Other financing activities	-105K YoY-11.7%	-94.0K YoY-25.3%	-75.0K YoY-19.0%	-63.0K YoY+0.0%	-63.0K YoY+0.0%
Interest paid	274M YoY+13.7%	241M YoY-3.2%	249M YoY-7.0%	268M YoY+5.8%	253M YoY-21.2%
Income taxes paid	1.12M YoY-16.3%	1.34M YoY+22.7%	1.09M YoY+45.9%	748K YoY-36.6%	1.18M YoY+213.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	24.0B YoY-11.9%	27.2B YoY+17.2%	23.2B YoY+4.2%	22.3B YoY-34.3%	33.9B YoY+53.8%
P/E	21.4× YoY-18.5%	26.3× YoY-22.6%	34.0× YoY+75.2%	19.4× YoY-23.9%	25.5× YoY+5.4%
P/B	2.2× YoY-11.9%	2.5× YoY+17.6%	2.1× YoY+4.3%	2.0× YoY-35.1%	3.1× YoY+47.8%
P/FCF	14.5× YoY-15.9%	17.3× YoY+13.7%	15.2× YoY-3.8%	15.8× YoY-41.2%	26.9× YoY+54.5%
Earnings yield	4.7% YoY+22.8%	3.8% YoY+29.2%	2.9% YoY-42.9%	5.2% YoY+31.4%	3.9% YoY-5.1%
FCF yield	6.9% YoY+18.9%	5.8% YoY-12.0%	6.6% YoY+4.0%	6.3% YoY+70.2%	3.7% YoY-35.3%
Dividend yield	4.4% YoY+16.8%	3.8% YoY-13.2%	4.3% YoY+2.3%	4.2%	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EQR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EQR filings on SEC EDGAR → Not investment advice.

EQR▼ financial statements

About this data

financial statements