Equity Residential (EQR) 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 | 779.85M | 789.03M | 782.41M | 768.83M | 760.81M | 766.78M | 748.35M | 734.16M | 730.82M | 727.5M | 724.07M | 717.31M | 705.09M | 699.7M | 695.1M | 687.03M | 653.35M | 645.13M | 623.21M | 598.06M |
| Revenue Growth % | 2.5% | 2.9% | 4.55% | 4.72% | 4.1% | 5.4% | 3.35% | 2.35% | 3.65% | 3.97% | 4.17% | 4.41% | 7.92% | 8.46% | 11.54% | 14.88% | 9.33% | 5.17% | 0.12% | -8.49% |
| Property Operating Expenses | 301.82M | 803.27M | 286.54M | 283.39M | 291.54M | 277.38M | 272.59M | 265.58M | 279.01M | 252.13M | 260.11M | 258.53M | 275.71M | 231.37M | 250.14M | 244.76M | 256.31M | 235.39M | 237.14M | 229.6M |
| Net Operating Income (NOI) | 478.02M | -14.23M | 495.87M | 485.44M | 469.27M | 489.4M | 475.76M | 468.58M | 451.8M | 475.37M | 463.95M | 458.78M | 429.37M | 468.33M | 444.96M | 442.27M | 397.04M | 409.74M | 386.06M | 368.46M |
| NOI Margin % | 61.3% | -1.8% | 63.38% | 63.14% | 61.68% | 63.82% | 63.57% | 63.83% | 61.82% | 65.34% | 64.08% | 63.96% | 60.9% | 66.93% | 64.01% | 64.37% | 60.77% | 63.51% | 61.95% | 61.61% |
| Operating Expenses | 264.36M | -237.16M | 269.32M | 259.42M | 18.25M | 12.75M | 14.55M | 18.63M | 15.72M | 11.58M | 14.09M | 18.88M | 16.16M | 225.97M | 30.95M | 132.33M | 247.3M | -232.15M | -135.49M | -8.39M |
| G&A Expenses | 16.86M | 0 | 14.66M | 18.53M | 18.25M | 12.75M | 14.55M | 18.63M | 15.72M | 11.58M | 14.09M | 18.88M | 16.16M | 11.68M | 13.37M | 16.42M | 17.24M | 13.4M | 13.04M | 14.68M |
| EBITDA | 461.16M | 481.03M | 481.2M | 470.11M | 707.76M | 744.02M | 699.16M | 674.35M | 661.78M | 692.35M | 674.6M | 661.26M | 629.04M | 459.67M | 628.14M | 533.74M | 379.7M | 864.12M | 736.95M | 577.52M |
| EBITDA Margin % | 59.13% | 60.96% | 61.5% | 61.15% | 93.03% | 97.03% | 93.43% | 91.85% | 90.55% | 95.17% | 93.17% | 92.19% | 89.21% | 65.69% | 90.37% | 77.69% | 58.12% | 133.95% | 118.25% | 96.57% |
| Depreciation & Amortization | 247.5M | 258.11M | 254.66M | 244.09M | 256.75M | 267.38M | 237.95M | 224.4M | 225.69M | 228.57M | 224.74M | 221.35M | 215.83M | 217.31M | 214.13M | 223.81M | 229.96M | 222.24M | 215.4M | 200.67M |
| D&A / Revenue % | 31.74% | 32.71% | 32.55% | 31.75% | 33.75% | 34.87% | 31.8% | 30.57% | 30.88% | 31.42% | 31.04% | 30.86% | 30.61% | 31.06% | 30.81% | 32.58% | 35.2% | 34.45% | 34.56% | 33.55% |
| Operating Income | 213.66M | 222.92M | 226.55M | 226.01M | 451.01M | 476.64M | 461.21M | 449.95M | 436.08M | 463.78M | 449.86M | 439.9M | 413.21M | 242.36M | 414.01M | 309.93M | 149.74M | 641.88M | 521.55M | 376.84M |
| Operating Margin % | 27.4% | 28.25% | 28.95% | 29.4% | 59.28% | 62.16% | 61.63% | 61.29% | 59.67% | 63.75% | 62.13% | 61.33% | 58.6% | 34.64% | 59.56% | 45.11% | 22.92% | 99.5% | 83.69% | 63.01% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | 2.69x | 5.78x | 4.71x | 3.71x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | 0 | -250.83M | -150.86M | -53.5M | 256.75M | 264.15M | 237.95M | 224.4M | 225.69M | 226.79M | 224.74M | 221.35M | 215.83M | -21K | 196.55M | 107.9M | -102K | 467.79M | 363.93M | 223.74M |
| Pretax Income | 95.56M | 391.86M | 297.26M | 204.2M | 265.22M | 434.2M | 148.81M | 183.89M | 305.34M | 322.52M | 181.54M | 145.2M | 220.37M | 165.53M | 335.32M | 232.97M | 74.08M | 561.21M | 447.62M | 328.28M |
| Pretax Margin % | 12.25% | 49.66% | 37.99% | 26.56% | 34.86% | 56.63% | 19.88% | 25.05% | 41.78% | 44.33% | 25.07% | 20.24% | 31.25% | 23.66% | 48.24% | 33.91% | 11.34% | 86.99% | 71.82% | 54.89% |
| Income Tax | 2.46M | 361K | 395K | 5.4M | 422K | 331K | 290K | 331K | 304K | 256K | 258K | 336K | 298K | 175K | 152K | 291K | 282K | 236K | 284K | 242K |
| Effective Tax Rate % | 2.58% | 0.09% | 0.13% | 2.65% | 0.16% | 0.08% | 0.19% | 0.18% | 0.1% | 0.08% | 0.14% | 0.23% | 0.14% | 0.11% | 0.05% | 0.12% | 0.38% | 0.04% | 0.06% | 0.07% |
| Net Income | 90.08M | 382.09M | 289.05M | 192.36M | 256.59M | 419.12M | 143.45M | 177.48M | 295.79M | 311.69M | 172.51M | 139.2M | 212.03M | 159.02M | 323.02M | 224.1M | 70.77M | 526.97M | 431.95M | 316.39M |
| Net Margin % | 11.55% | 48.43% | 36.94% | 25.02% | 33.73% | 54.66% | 19.17% | 24.17% | 40.47% | 42.84% | 23.82% | 19.41% | 30.07% | 22.73% | 46.47% | 32.62% | 10.83% | 81.68% | 69.31% | 52.9% |
| Net Income Growth % | -64.89% | -8.83% | 101.51% | 8.38% | -13.25% | 34.46% | -16.85% | 27.5% | 39.5% | 96.01% | -46.6% | -37.88% | 199.63% | -69.82% | -25.22% | -29.17% | 22.99% | 108.41% | 373.18% | 21.27% |
| Funds From Operations (FFO) | 337.57M | 640.2M | 543.71M | 436.45M | 513.34M | 686.49M | 381.39M | 401.88M | 521.48M | 540.26M | 397.24M | 360.56M | 427.87M | 376.33M | 537.15M | 447.91M | 300.73M | 749.21M | 647.35M | 517.06M |
| FFO Margin % | 43.29% | 81.14% | 69.49% | 56.77% | 67.47% | 89.53% | 50.96% | 54.74% | 71.36% | 74.26% | 54.86% | 50.27% | 60.68% | 53.78% | 77.28% | 65.19% | 46.03% | 116.13% | 103.87% | 86.46% |
| FFO Growth % | -34.24% | -6.74% | 42.56% | 8.6% | -1.56% | 27.07% | -3.99% | 11.46% | 21.88% | 43.56% | -26.05% | -19.5% | 42.28% | -49.77% | -17.02% | -13.37% | 16.79% | 64.78% | 121.78% | 10.75% |
| FFO per Share | 0.88 | 1.65 | 1.39 | 1.11 | 1.31 | 1.75 | 0.98 | 1.03 | 1.34 | 1.38 | 1.05 | 0.95 | 1.13 | 1.00 | 1.38 | 1.15 | 0.77 | 1.93 | 1.67 | 1.33 |
| FFO Payout Ratio % | 0% | 41.19% | 48.4% | 60.27% | 49.95% | 37.3% | 67.09% | 63.64% | 48.2% | 46.56% | 63.21% | 69.59% | 55.29% | 62.47% | 43.76% | 52.46% | 75.36% | 30.16% | 34.84% | 43.45% |
| EPS (Diluted) | 0.24 | 1.00 | 0.74 | 0.50 | 0.67 | 1.10 | 0.38 | 0.45 | 0.77 | 0.80 | 0.45 | 0.37 | 0.56 | 0.42 | 0.83 | 0.59 | 0.18 | 1.35 | 1.11 | 0.82 |
| EPS Growth % | -64.18% | -9.09% | 94.74% | 11.11% | -12.99% | 37.5% | -15.56% | 21.62% | 37.5% | 90.48% | -45.78% | -37.29% | 211.11% | -68.89% | -25.23% | -28.05% | 20% | 104.55% | 362.5% | 20.59% |
| EPS (Basic) | 0.24 | 1.01 | 0.76 | 0.51 | 0.69 | 1.10 | 0.39 | 0.47 | 0.78 | 0.82 | 0.45 | 0.37 | 0.56 | 0.42 | 0.86 | 0.59 | 0.19 | 1.41 | 1.15 | 0.85 |
| Diluted Shares Outstanding | 385.11M | 388.75M | 390.97M | 391.5M | 391.18M | 391.19M | 391.03M | 390.54M | 390.56M | 390.79M | 378.85M | 378.64M | 378.34M | 377.69M | 389.3M | 389.36M | 389.63M | 389M | 388.37M | 387.82M |