American Homes 4 Rent (AMH) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 472.02M | 459.26M | 478.46M | 457.5M | 459.28M | 436.59M | 445.06M | 423.49M | 423.56M | 408.66M | 421.7M | 395.55M | 397.7M | 380.93M | 391.63M | 361.88M | 356.11M | 338.09M | 339.56M | 313.65M |
| Revenue Growth % | 2.78% | 5.19% | 7.51% | 8.03% | 8.43% | 6.84% | 5.54% | 7.07% | 6.5% | 7.28% | 7.68% | 9.3% | 11.68% | 12.67% | 15.33% | 15.37% | 13.93% | 14.01% | 10.27% | 11.74% |
| Property Operating Expenses | 455.56M | 438.36M | 214.99M | 194.5M | 204.77M | 185.34M | 206.61M | 184.79M | 190.65M | 178.17M | 201.22M | 177.39M | 182.94M | 170.61M | 186.29M | 165.7M | 165.65M | 151.08M | 162.53M | 141.96M |
| Net Operating Income (NOI) | 16.46M | 20.9M | 263.48M | 263M | 254.5M | 251.25M | 238.45M | 238.71M | 232.9M | 230.49M | 220.47M | 218.15M | 214.76M | 210.32M | 205.34M | 196.18M | 190.45M | 187.01M | 177.03M | 171.69M |
| NOI Margin % | 3.49% | 4.55% | 55.07% | 57.49% | 55.41% | 57.55% | 53.58% | 56.37% | 54.99% | 56.4% | 52.28% | 55.15% | 54% | 55.21% | 52.43% | 54.21% | 53.48% | 55.31% | 52.13% | 54.74% |
| Operating Expenses | -101.83M | -95M | 147.16M | 146.95M | 20.77M | 21.66M | 20.15M | 22.49M | 22.68M | 19.29M | 19.14M | 20.64M | 18.55M | 12.74M | 17.69M | 19.55M | 18.08M | 12.7M | 13.65M | 13.89M |
| G&A Expenses | 0 | 22.82M | 20.5M | 20.01M | 20.77M | 21.66M | 20.15M | 22.49M | 22.68M | 19.29M | 19.14M | 20.64M | 18.55M | 12.74M | 17.69M | 19.55M | 18.08M | 12.7M | 13.65M | 13.89M |
| EBITDA | 245.64M | 241.72M | 242.97M | 242.99M | 357.56M | 352.67M | 337.09M | 333.01M | 325.14M | 326.17M | 315.4M | 310.02M | 308.22M | 309.92M | 296.27M | 280.35M | 271.53M | 270.68M | 256.88M | 247.82M |
| EBITDA Margin % | 52.04% | 52.63% | 50.78% | 53.11% | 77.85% | 80.78% | 75.74% | 78.64% | 76.77% | 79.82% | 74.79% | 78.38% | 77.5% | 81.36% | 75.65% | 77.47% | 76.25% | 80.06% | 75.65% | 79.01% |
| Depreciation & Amortization | 127.34M | 125.82M | 126.66M | 126.94M | 123.83M | 123.09M | 118.79M | 116.8M | 114.93M | 114.97M | 114.06M | 112.5M | 112.02M | 112.34M | 108.62M | 103.72M | 99.15M | 96.37M | 93.49M | 90.02M |
| D&A / Revenue % | 26.98% | 27.4% | 26.47% | 27.75% | 26.96% | 28.19% | 26.69% | 27.58% | 27.13% | 28.13% | 27.05% | 28.44% | 28.17% | 29.49% | 27.74% | 28.66% | 27.84% | 28.5% | 27.53% | 28.7% |
| Operating Income | 118.3M | 115.91M | 116.32M | 116.06M | 233.73M | 229.58M | 218.3M | 216.21M | 210.22M | 211.2M | 201.34M | 197.52M | 196.2M | 197.58M | 187.66M | 176.63M | 172.37M | 174.31M | 163.38M | 157.8M |
| Operating Margin % | 25.06% | 25.24% | 24.31% | 25.37% | 50.89% | 52.59% | 49.05% | 51.05% | 49.63% | 51.68% | 47.74% | 49.94% | 49.33% | 51.87% | 47.92% | 48.81% | 48.4% | 51.56% | 48.12% | 50.31% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 3.43x | 4.19x | 3.42x | 3.67x | 2.42x | 2.39x | 2.28x | 2.57x | 2.47x | 1.95x | 2.54x | 2.44x | 2.35x | 2.28x | 2.18x | 2.10x | 2.66x | 2.62x | 2.25x | 2.46x |
| Non-Operating Income | -91.76M | -73.62M | -48.68M | -53.87M | 123.83M | 123.09M | 118.79M | 116.8M | 114.93M | 114.97M | 114.06M | 112.5M | 112.02M | 115.04M | 108.62M | 103.72M | 99.15M | 100.27M | 93.49M | 90.02M |
| Pretax Income | 148.84M | 144.25M | 116.8M | 123.62M | 128.71M | 143.87M | 87.64M | 108.53M | 128.09M | 90.94M | 88.09M | 115.41M | 137.7M | 103.79M | 61.66M | 74.56M | 70.01M | 61.32M | 48.5M | 51.81M |
| Pretax Margin % | 31.53% | 31.41% | 24.41% | 27.02% | 28.03% | 32.95% | 19.69% | 25.63% | 30.24% | 22.25% | 20.89% | 29.18% | 34.62% | 27.25% | 15.75% | 20.6% | 19.66% | 18.14% | 14.28% | 16.52% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 131.25M | 127.29M | 102.86M | 109.04M | 113.46M | 126.72M | 77.31M | 95.63M | 112.78M | 80.1M | 77.6M | 101.52M | 120.95M | 91.02M | 54.2M | 66.21M | 61.7M | 53.87M | 42.63M | 48.6M |
| Net Margin % | 27.81% | 27.72% | 21.5% | 23.83% | 24.7% | 29.02% | 17.37% | 22.58% | 26.63% | 19.6% | 18.4% | 25.66% | 30.41% | 23.9% | 13.84% | 18.3% | 17.33% | 15.93% | 12.55% | 15.49% |
| Net Income Growth % | 15.69% | 0.46% | 33.06% | 14.02% | 0.61% | 58.19% | -0.38% | -5.8% | -6.76% | -12% | 43.17% | 53.32% | 96.02% | 68.97% | 27.14% | 36.25% | 40.24% | 31.83% | 17.33% | 66.7% |
| Funds From Operations (FFO) | 258.6M | 253.11M | 229.52M | 235.98M | 237.29M | 249.81M | 196.1M | 212.43M | 227.7M | 195.07M | 191.66M | 214.01M | 232.97M | 203.37M | 162.82M | 169.93M | 160.86M | 150.23M | 136.13M | 138.61M |
| FFO Margin % | 54.78% | 55.11% | 47.97% | 51.58% | 51.67% | 57.22% | 44.06% | 50.16% | 53.76% | 47.74% | 45.45% | 54.11% | 58.58% | 53.39% | 41.58% | 46.96% | 45.17% | 44.44% | 40.09% | 44.19% |
| FFO Growth % | 8.98% | 1.32% | 17.04% | 11.08% | 4.21% | 28.06% | 2.31% | -0.74% | -2.26% | -4.08% | 17.71% | 25.94% | 44.83% | 35.37% | 19.61% | 22.59% | 20.88% | 17.04% | 11.28% | 22.79% |
| FFO per Share | 0.71 | 0.68 | 0.62 | 0.64 | 0.64 | 0.68 | 0.53 | 0.58 | 0.62 | 0.54 | 0.53 | 0.59 | 0.65 | 0.57 | 0.47 | 0.49 | 0.46 | 0.45 | 0.42 | 0.43 |
| FFO Payout Ratio % | 0% | 45.1% | 48.65% | 47.29% | 47.36% | 38.59% | 48.76% | 45% | 42.12% | 40.96% | 41.68% | 37.32% | 34.27% | 31.38% | 38.64% | 37.16% | 38.94% | 22.61% | 23.8% | 23.32% |
| EPS (Diluted) | 0.35 | 0.33 | 0.27 | 0.28 | 0.30 | 0.33 | 0.20 | 0.25 | 0.30 | 0.21 | 0.20 | 0.27 | 0.32 | 0.24 | 0.14 | 0.16 | 0.16 | 0.14 | 0.11 | 0.06 |
| EPS Growth % | 16.67% | 0% | 35% | 12% | 0% | 57.14% | 0% | -7.41% | -6.25% | -12.5% | 42.86% | 68.75% | 100% | 71.43% | 27.27% | 166.67% | 77.78% | 63.93% | 57.14% | 20% |
| EPS (Basic) | 0.35 | 0.33 | 0.27 | 0.28 | 0.30 | 0.33 | 0.20 | 0.25 | 0.30 | 0.21 | 0.20 | 0.27 | 0.33 | 0.25 | 0.14 | 0.16 | 0.16 | 0.14 | 0.11 | 0.06 |
| Diluted Shares Outstanding | 364.5M | 370.18M | 371.08M | 371.06M | 370.76M | 369.91M | 367.6M | 367.31M | 366.97M | 363.4M | 362.92M | 362.48M | 360.67M | 354.19M | 349.34M | 349M | 346.48M | 336.6M | 326.21M | 320.81M |