AvalonBay Communities, Inc. (AVB) 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 | 770.28M | 767.86M | 764.93M | 760.2M | 745.88M | 740.55M | 734.31M | 726.04M | 712.86M | 704.71M | 697.63M | 690.86M | 674.71M | 669.67M | 665.29M | 644.56M | 613.93M | 601.2M | 580.77M | 561.74M |
| Revenue Growth % | 3.27% | 3.69% | 4.17% | 4.7% | 4.63% | 5.09% | 5.26% | 5.09% | 5.65% | 5.23% | 4.86% | 7.18% | 9.9% | 11.39% | 14.55% | 14.74% | 11.39% | 8.17% | 2.36% | -2.54% |
| Property Operating Expenses | 248.59M | 243.92M | 213.23M | 276.97M | 268.86M | 281.65M | 275.46M | 260.65M | 255.7M | 250.38M | 253.59M | 244.84M | 239.33M | 229.14M | 240.67M | 227.25M | 222.05M | 211.05M | 221.04M | 212.4M |
| Net Operating Income (NOI) | 521.68M | 523.94M | 551.7M | 483.22M | 477.02M | 458.9M | 458.85M | 465.39M | 457.16M | 454.33M | 444.05M | 446.02M | 435.38M | 440.53M | 424.62M | 417.31M | 391.88M | 390.15M | 359.74M | 349.35M |
| NOI Margin % | 67.73% | 68.23% | 72.12% | 63.57% | 63.95% | 61.97% | 62.49% | 64.1% | 64.13% | 64.47% | 63.65% | 64.56% | 64.53% | 65.78% | 63.82% | 64.74% | 63.83% | 64.9% | 61.94% | 62.19% |
| Operating Expenses | 303.15M | 295.83M | 333.79M | 254.73M | 237.67M | 233.23M | 232.21M | 226.51M | 232.6M | 228.69M | 221.45M | 218.22M | 225.14M | 227.97M | 221.27M | 220.59M | 219.21M | 213.52M | 211.1M | 202.94M |
| G&A Expenses | 22.08M | 21.87M | 22.03M | 23M | 19.78M | 17.69M | 20.09M | 19.59M | 20.33M | 17.99M | 20.47M | 17.68M | 20.4M | 20.74M | 14.61M | 21.29M | 17.42M | 16.48M | 17.31M | 18.46M |
| EBITDA | 451.64M | 461.49M | 448.28M | 460.23M | 457.24M | 441.21M | 438.76M | 445.8M | 436.83M | 436.33M | 423.58M | 428.35M | 414.98M | 419.79M | 410.01M | 396.01M | 374.46M | 373.67M | 342.43M | 330.88M |
| EBITDA Margin % | 58.63% | 60.1% | 58.6% | 60.54% | 61.3% | 59.58% | 59.75% | 61.4% | 61.28% | 61.92% | 60.72% | 62% | 61.51% | 62.69% | 61.63% | 61.44% | 60.99% | 62.15% | 58.96% | 58.9% |
| Depreciation & Amortization | 233.1M | 233.39M | 230.37M | 231.73M | 217.89M | 215.54M | 212.12M | 206.92M | 212.27M | 210.69M | 200.98M | 200.55M | 204.74M | 207.23M | 206.66M | 199.3M | 201.79M | 197.04M | 193.79M | 184.47M |
| D&A / Revenue % | 30.26% | 30.39% | 30.12% | 30.48% | 29.21% | 29.11% | 28.89% | 28.5% | 29.78% | 29.9% | 28.81% | 29.03% | 30.35% | 30.95% | 31.06% | 30.92% | 32.87% | 32.77% | 33.37% | 32.84% |
| Operating Income | 218.53M | 228.1M | 217.91M | 228.5M | 239.35M | 225.67M | 226.64M | 238.88M | 224.56M | 225.64M | 222.6M | 227.8M | 210.24M | 212.56M | 203.35M | 196.71M | 172.67M | 176.63M | 148.63M | 146.41M |
| Operating Margin % | 28.37% | 29.71% | 28.49% | 30.06% | 32.09% | 30.47% | 30.86% | 32.9% | 31.5% | 32.02% | 31.91% | 32.97% | 31.16% | 31.74% | 30.57% | 30.52% | 28.13% | 29.38% | 25.59% | 26.06% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 0.63x | 3.40x | 6.87x | 5.16x | 4.95x | 5.78x | 7.69x | 5.45x | 4.17x | 5.94x | 4.66x | 8.13x | 3.65x | 5.31x | 9.73x | 3.35x | 5.68x | 7.10x | 2.45x | 8.98x |
| Non-Operating Income | 173.47M | -6.69M | -231.47M | -105.63M | -56.99M | -115.14M | -202.43M | -72.14M | -3.74M | -68.33M | -1.68M | -191.37M | 3.08M | -92.75M | -354.23M | -492K | -148.4M | -218.68M | 11.62M | -357.68M |
| Pretax Income | 328M | 165.69M | 383.97M | 269.32M | 236.48M | 281.84M | 373.3M | 253.94M | 173.53M | 244.5M | 176.16M | 367.59M | 150.34M | 247.85M | 500.28M | 138.41M | 264.55M | 339.6M | 81.03M | 447.99M |
| Pretax Margin % | 42.58% | 21.58% | 50.2% | 35.43% | 31.7% | 38.06% | 50.84% | 34.98% | 24.34% | 34.7% | 25.25% | 53.21% | 22.28% | 37.01% | 75.2% | 21.47% | 43.09% | 56.49% | 13.95% | 79.75% |
| Income Tax | -294K | -295K | -193K | -531K | -116K | -253K | 782K | -62K | -22K | 2.44M | 4.37M | -217K | 3.56M | 6.68M | 5.65M | -159K | 2.47M | 4.3M | 2.18M | 10K |
| Effective Tax Rate % | -0.09% | -0.18% | -0.05% | -0.2% | -0.05% | -0.09% | 0.21% | -0.02% | -0.01% | 1% | 2.48% | -0.06% | 2.37% | 2.7% | 1.13% | -0.11% | 0.93% | 1.27% | 2.69% | 0% |
| Net Income | 325.73M | 165.99M | 381.31M | 268.67M | 236.6M | 282.09M | 372.52M | 253.93M | 173.45M | 241.97M | 172.03M | 367.92M | 146.9M | 241.29M | 494.75M | 138.44M | 262.04M | 334.55M | 78.75M | 447.05M |
| Net Margin % | 42.29% | 21.62% | 49.85% | 35.34% | 31.72% | 38.09% | 50.73% | 34.98% | 24.33% | 34.34% | 24.66% | 53.26% | 21.77% | 36.03% | 74.37% | 21.48% | 42.68% | 55.65% | 13.56% | 79.58% |
| Net Income Growth % | 37.67% | -41.16% | 2.36% | 5.8% | 36.41% | 16.58% | 116.54% | -30.98% | 18.07% | 0.28% | -65.23% | 165.76% | -43.94% | -27.88% | 528.22% | -69.03% | 84.67% | -1.7% | -46.56% | 162.3% |
| Funds From Operations (FFO) | 558.83M | 399.37M | 611.68M | 500.39M | 454.49M | 497.63M | 584.64M | 460.86M | 385.72M | 452.66M | 373.01M | 568.47M | 351.64M | 448.52M | 701.4M | 337.75M | 463.83M | 531.59M | 272.55M | 631.52M |
| FFO Margin % | 72.55% | 52.01% | 79.97% | 65.82% | 60.93% | 67.2% | 79.62% | 63.48% | 54.11% | 64.23% | 53.47% | 82.28% | 52.12% | 66.98% | 105.43% | 52.4% | 75.55% | 88.42% | 46.93% | 112.42% |
| FFO Growth % | 22.96% | -19.75% | 4.62% | 8.58% | 17.83% | 9.93% | 56.73% | -18.93% | 9.69% | 0.92% | -46.82% | 68.31% | -24.19% | -15.63% | 157.35% | -46.52% | 42.63% | 2.59% | -15.54% | 82.16% |
| FFO per Share | 3.97 | 2.81 | 4.26 | 3.49 | 3.19 | 3.49 | 4.10 | 3.24 | 2.71 | 3.18 | 2.62 | 4.00 | 2.51 | 3.20 | 5.01 | 2.41 | 3.31 | 3.80 | 1.95 | 4.52 |
| FFO Payout Ratio % | 44.61% | 62.46% | 40.91% | 49.75% | 53.62% | 48.59% | 41.33% | 52.41% | 61.45% | 51.73% | 62.78% | 40.61% | 63.55% | 49.54% | 31.67% | 65.78% | 48.09% | 41.75% | 81.4% | 35.13% |
| EPS (Diluted) | 2.31 | 1.17 | 2.68 | 1.88 | 1.66 | 1.98 | 2.61 | 1.78 | 1.22 | 1.70 | 1.21 | 2.58 | 1.05 | 1.72 | 3.53 | 0.99 | 1.87 | 2.40 | 0.56 | 3.21 |
| EPS Growth % | 39.16% | -40.91% | 2.68% | 5.62% | 36.07% | 16.47% | 115.7% | -31.01% | 16.19% | -1.16% | -65.72% | 160.61% | -43.85% | -28.33% | 530.36% | -69.16% | 83.33% | -1.64% | -46.67% | 165.29% |
| EPS (Basic) | 2.33 | 1.17 | 2.68 | 1.89 | 1.66 | 1.98 | 2.62 | 1.78 | 1.22 | 1.70 | 1.21 | 2.59 | 1.05 | 1.72 | 3.54 | 0.99 | 1.88 | 2.40 | 0.57 | 3.21 |
| Diluted Shares Outstanding | 140.81M | 141.99M | 143.54M | 143.29M | 142.49M | 142.71M | 142.52M | 142.39M | 142.22M | 142.23M | 142.2M | 142.12M | 140.02M | 140.01M | 139.98M | 139.93M | 139.98M | 139.93M | 139.74M | 139.66M |