AvalonBay Communities, Inc.(AVB)Earnings, Financials & Key Ratios

AVB•NYSE•REIT / Real Estate

$195.39

26.4× P/E·Price updated Jul 7, 2026

SectorReal Estate IndustryResidential REITs Sub-IndustryDiversified apartment REITs

AboutAs of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the Expansion Markets).Show more

Revenue$3.04B+4.3%
FFO$1.97B+1.9%
FFO/Share13.85+2.3%
FFO Payout50.48%+1.2%
FFO per Share13.85+2.3%
NOI Margin66.99%+6.1%
FFO Margin64.69%-2.3%
ROE8.85%-2.9%
ROA4.87%-6.1%

AVB Price & Volume

AvalonBay Communities, Inc. (AVB) stock price & volume — 10-year historical chart

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Development Pipeline Growth Offsets Margin Volatility Risks

Investment Thesis • Updated 2026Q1

VerdictNeutral

Growth:Stable

Profitability:Strong

Financial:Healthy

Cash Flow:Mixed

Primary Risk:Development pipeline capital intensity

Key Thesis Takeaways

AvalonBay Communities leverages a vertically integrated development platform to drive top-line expansion, evidenced by revenue growth from $704.7 million in 2023Q4 to $770.3 million in 2026Q1.
While the company maintains a conservative capital structure with a 0.80 debt-to-equity ratio, investors should monitor the impact of high development-related capital expenditures, which reached $336.8 million in 2026Q1, on overall cash flow quality.
The persistent gap between Net Income and FFO suggests that non-cash depreciation and interest capitalization practices continue to obscure the company's underlying economic earnings capacity.

Verdict Logic

while the company maintains a conservative 0.80 debt-to-equity ratio and consistent revenue growth, the high development-related capital expenditure of $336.8 million in 2026Q1 warrants caution regarding future cash flow conversion and margin stability.

AVB Growth Metrics

AvalonBay Communities, Inc. (AVB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.05%

5 Years5.72%

3 Years5.43%

TTM3.95%

Profit CAGR

10 Years3.56%

5 Years4.93%

3 Years-2.53%

TTM-0.3%

EPS CAGR

10 Years2.98%

5 Years4.68%

3 Years-3.05%

TTM0.12%

Return on Capital

10 Years4.3%

5 Years4.13%

3 Years4.46%

Last Year4.38%

AVB Recent Earnings

AvalonBay Communities, Inc. (AVB) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (75%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

Apr 27, 2026

Metric

Actual

Est

EPS

$2.33+83.5%

$1.27

Rev

$705M-8.3%

$769M

Q1 2026

Feb 4, 2026

Metric

Actual

Est

EPS

$1.17-4.9%

$1.23

Rev

$679M-11.3%

$766M

Q4 2025

Oct 29, 2025

Metric

Actual

Est

EPS

$2.75-2.1%

$2.81

Rev

$765M-0.2%

$766M

Q3 2025

Jul 30, 2025

Metric

Actual

Est

EPS

$2.82+0.7%

$2.80

Rev

$760M-0.8%

$766M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 27, 2026	$2.33vs $1.27+83.5%	$705Mvs $769M-8.3%
Q1 2026	Feb 4, 2026	$1.17vs $1.23-4.9%	$679Mvs $766M-11.3%
Q4 2025	Oct 29, 2025	$2.75vs $2.81-2.1%	$765Mvs $766M-0.2%
Q3 2025	Jul 30, 2025	$2.82vs $2.80+0.7%	$760Mvs $766M-0.8%

Based on last 12 quarters of dataView full earnings history →

Latest AVB News

Recent stock market news and headlines for AvalonBay Communities, Inc. (AVB)

Business Wire·Jun 24, 2026

Aerwave Launches First Wi-Fi 7 Community with AvalonBay at Kanso Twinbrook

DALLAS--(BUSINESS WIRE)--Aerwave today announced the launch of its first Wi-Fi 7 community at AvalonBay's Kanso Twinbrook in Rockville, Maryland, bringing next-generation managed connectivity to a property widely recognized as a model for the future of apartment living without a traditional leasing office. AvalonBay's Kanso brand was recently profiled by Multifamily Executive as “the future of apartment buildings,” highlighting the brand's digital-first, self-service operating model and technolo.

Peers Comparison

Key metrics vs top competitors for AvalonBay Communities, Inc. (AVB)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
AVBAvalonBay Communities, Inc.Current	$195.39	$27.72B	26.44	4.29%	34.64%	8.85%	3.58%
EQREquity Residential	$70.15	$26.28B	24.11	4.06%	30.56%	8.4%	—
ESSEssex Property Trust, Inc.	$298.32	$19.23B	28.66	7.11%	30.17%	9.99%	—
UDRUDR, Inc.	$41.24	$13.44B	36.50	2.42%	28.6%	12.37%	—
CPTCamden Property Trust	$117.58	$12.31B	33.21	1.92%	32.81%	8.71%	—
MAAMid-America Apartment Communities, Inc.	$141.71	$16.49B	37.49	0.83%	18.19%	6.81%	—

Compare AVB vs Peers

AvalonBay Communities, Inc. (AVB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EQR

Most directly comparable listed peer for AVB.

Scale Benchmark

vs PLD

Larger-name benchmark to compare AVB against a more recognizable public peer.

Peer Set

Compare Top 5

vs EQR, ESS, UDR, CPT

AVB SEC Filings & Documents

AvalonBay Communities, Inc. (AVB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Jun 8, 2026·SEC

Material company update

May 22, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

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AVB Frequently Asked Questions

AvalonBay Communities, Inc. (AVB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is AvalonBay Communities, Inc.'s revenue?

AvalonBay Communities, Inc. (AVB) reported $3.06B in revenue for fiscal year 2025. This represents a 3609% increase from $82.6M in 1996.

How fast is AvalonBay Communities, Inc. growing?

AvalonBay Communities, Inc. (AVB) grew revenue by 4.3% over the past year. Growth has been modest.

Is AVB profitable?

Yes, AvalonBay Communities, Inc. (AVB) is profitable, generating $1.14B in net income for fiscal year 2025 (34.6% net margin).

Dividend & Returns

Does AVB pay dividends?

Yes, AvalonBay Communities, Inc. (AVB) pays a dividend with a yield of 3.58%. This makes it attractive for income-focused investors.

What is AVB's return on equity?

AvalonBay Communities, Inc. (AVB) has a return on equity (ROE) of 8.9%. This is below average, suggesting room for improvement.

Industry Metrics

What is AvalonBay Communities, Inc.'s FFO?

AvalonBay Communities, Inc. (AVB) generated Funds From Operations (FFO) of $2.07B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is AVB a good dividend stock?

AvalonBay Communities, Inc. (AVB) offers a 3.58% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in AVB back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

Apr 27, 2026

$2.33vs $1.27+83.5%

$705Mvs $769M-8.3%

Q1 2026

Feb 4, 2026

$1.17vs $1.23-4.9%

$679Mvs $766M-11.3%

Q4 2025

Oct 29, 2025

$2.75vs $2.81-2.1%

$765Mvs $766M-0.2%

Q3 2025

Jul 30, 2025

$2.82vs $2.80+0.7%

$760Mvs $766M-0.8%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

AVBAvalonBay Communities, Inc.Current

$195.39

$27.72B

26.44

4.29%

34.64%

8.85%

3.58%

EQREquity Residential

$70.15

$26.28B

24.11

4.06%

30.56%

8.4%

—

ESSEssex Property Trust, Inc.

$298.32

$19.23B

28.66

7.11%

30.17%

9.99%

—

UDRUDR, Inc.

$41.24

$13.44B

36.50

2.42%

28.6%

12.37%

—

CPTCamden Property Trust

$117.58

$12.31B

33.21

1.92%

32.81%

8.71%

—

MAAMid-America Apartment Communities, Inc.

$141.71

$16.49B

37.49

0.83%

18.19%

6.81%

—