Essex Property Trust, Inc. (ESS) 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 | 484.76M | 479.63M | 473.3M | 469.83M | 477.79M | 454.47M | 462.35M | 442.36M | 439.29M | 421.75M | 419.18M | 416.04M | 412.42M | 415.18M | 409.75M | 399.98M | 381.9M | 371.6M | 362.86M | 350.98M |
| Revenue Growth % | 1.46% | 5.54% | 2.37% | 6.21% | 8.76% | 7.76% | 10.3% | 6.32% | 6.52% | 1.58% | 2.3% | 4.02% | 7.99% | 11.73% | 12.92% | 13.96% | 7.54% | 2.63% | -2.15% | -5.27% |
| Property Operating Expenses | 141.26M | 150.8M | 143.44M | 147.42M | 150.95M | 388.82M | 146.4M | 137.35M | 137.66M | 58.51M | 58.38M | 130.68M | 57.96M | 56.5M | 56.78M | 53.94M | 57.41M | 54.03M | 54.86M | 53.34M |
| Net Operating Income (NOI) | 343.5M | 328.83M | 329.87M | 322.42M | 326.84M | 65.65M | 315.94M | 305.01M | 301.63M | 363.24M | 360.8M | 285.37M | 354.46M | 358.69M | 352.97M | 346.04M | 324.49M | 317.57M | 308M | 297.64M |
| NOI Margin % | 70.86% | 68.56% | 69.69% | 68.62% | 68.41% | 14.44% | 68.34% | 68.95% | 68.66% | 86.13% | 86.07% | 68.59% | 85.95% | 86.39% | 86.14% | 86.52% | 84.97% | 85.46% | 84.88% | 84.8% |
| Operating Expenses | 188.31M | 183.3M | 178.15M | 42.72M | 69.76M | -238.85M | 187.16M | 167.56M | 169.27M | 232.9M | 229.02M | 150.54M | 167.07M | 130.54M | 224.36M | 217.41M | 214.64M | 216.31M | 170.02M | 204.26M |
| G&A Expenses | 33.41M | 17.14M | 18.06M | 17.16M | 16.29M | 31.53M | 29.07M | 21.14M | 17.17M | 19.74M | 14.61M | 13.81M | 15.31M | 16.04M | 15.17M | 13.13M | 12.24M | 17.09M | 12.71M | 12.22M |
| EBITDA | 310.09M | 298.8M | 303.21M | 431.2M | 408.37M | 452.93M | 275.23M | 283.06M | 272.09M | 268.36M | 269.14M | 271.55M | 323.73M | 363.9M | 264.12M | 263.14M | 243.38M | 233.44M | 268.54M | 222.12M |
| EBITDA Margin % | 63.97% | 62.3% | 64.06% | 91.78% | 85.47% | 99.66% | 59.53% | 63.99% | 61.94% | 63.63% | 64.21% | 65.27% | 78.5% | 87.65% | 64.46% | 65.79% | 63.73% | 62.82% | 74.01% | 63.29% |
| Depreciation & Amortization | 154.9M | 153.26M | 151.49M | 151.5M | 151.29M | 148.44M | 146.44M | 145.61M | 139.73M | 138.02M | 137.36M | 136.72M | 136.35M | 135.76M | 135.51M | 134.52M | 133.53M | 132.18M | 130.56M | 128.74M |
| D&A / Revenue % | 31.95% | 31.95% | 32.01% | 32.25% | 31.66% | 32.66% | 31.67% | 32.92% | 31.81% | 32.72% | 32.77% | 32.86% | 33.06% | 32.7% | 33.07% | 33.63% | 34.96% | 35.57% | 35.98% | 36.68% |
| Operating Income | 155.19M | 145.53M | 151.72M | 279.7M | 257.08M | 304.5M | 128.79M | 137.45M | 132.36M | 130.34M | 131.78M | 134.83M | 187.38M | 228.14M | 128.61M | 128.63M | 109.85M | 101.26M | 137.97M | 93.38M |
| Operating Margin % | 32.01% | 30.34% | 32.06% | 59.53% | 53.81% | 67% | 27.86% | 31.07% | 30.13% | 30.9% | 31.44% | 32.41% | 45.44% | 54.95% | 31.39% | 32.16% | 28.76% | 27.25% | 38.02% | 26.61% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 2.42x | 2.25x | 3.65x | 4.55x | 2.54x | 1.96x | 2.37x | 2.67x | 2.59x | 3.64x | 4.14x | 3.01x | 5.61x | 7.62x | 3.95x | 2.84x | 3.49x | 5.39x | 4.95x | 3.64x |
| Non-Operating Income | 0 | 0 | -84.33M | -17.09M | 97.82M | 184.52M | -11.65M | -20.66M | -12.37M | -70.03M | -92.41M | -23.52M | -99.14M | -74.75M | -101.98M | -63.64M | -92.57M | -170.62M | -109.63M | -92.31M |
| Pretax Income | 112.21M | 80.93M | 172.72M | 231.53M | 212.78M | 301.69M | 125.49M | 98.99M | 285.14M | 145.28M | 170.03M | 105.76M | 235.48M | 263.13M | 172.15M | 124.59M | 144.48M | 221.4M | 197.58M | 134.72M |
| Pretax Margin % | 23.15% | 16.87% | 36.49% | 49.28% | 44.53% | 66.38% | 27.14% | 22.38% | 64.91% | 34.45% | 40.56% | 25.42% | 57.1% | 63.38% | 42.01% | 31.15% | 37.83% | 59.58% | 54.45% | 38.38% |
| Income Tax | 0 | 257K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.37M | 0 | -6.86M | -2.75M | 10.28M | 3.04M | 1.84M |
| Effective Tax Rate % | 0% | 0.32% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.9% | 0% | -5.51% | -1.91% | 4.64% | 1.54% | 1.37% |
| Net Income | 106.19M | 83.39M | 164.62M | 221.36M | 203.11M | 257.45M | 118.42M | 92.91M | 272.73M | 65.39M | 87.28M | 99.62M | 153.53M | 185.16M | 92.84M | 57.05M | 73.25M | 136.87M | 118.39M | 64.85M |
| Net Margin % | 21.91% | 17.39% | 34.78% | 47.12% | 42.51% | 56.65% | 25.61% | 21% | 62.08% | 15.5% | 20.82% | 23.94% | 37.23% | 44.6% | 22.66% | 14.26% | 19.18% | 36.83% | 32.63% | 18.48% |
| Net Income Growth % | -47.72% | -67.61% | 39.01% | 138.24% | -25.53% | 293.71% | 35.68% | -6.73% | 77.64% | -64.69% | -5.99% | 74.61% | 109.59% | 35.28% | -21.58% | -12.02% | -56.51% | 42.96% | 60.72% | -23.22% |
| Funds From Operations (FFO) | 261.08M | 236.66M | 316.11M | 372.86M | 354.4M | 405.89M | 264.86M | 238.53M | 412.46M | 203.41M | 224.64M | 236.34M | 289.88M | 320.92M | 228.35M | 191.57M | 206.79M | 269.05M | 248.95M | 193.58M |
| FFO Margin % | 53.86% | 49.34% | 66.79% | 79.36% | 74.17% | 89.31% | 57.29% | 53.92% | 93.89% | 48.23% | 53.59% | 56.81% | 70.29% | 77.3% | 55.73% | 47.9% | 54.15% | 72.4% | 68.61% | 55.16% |
| FFO Growth % | -26.33% | -41.69% | 19.35% | 56.32% | -14.08% | 99.54% | 17.91% | 0.93% | 42.29% | -36.62% | -1.63% | 23.37% | 40.18% | 19.28% | -8.28% | -1.04% | -30.38% | 19.12% | 22.12% | -11.23% |
| FFO per Share | 4.05 | 3.67 | 4.91 | 5.79 | 5.51 | 6.32 | 4.12 | 3.71 | 6.42 | 3.17 | 3.50 | 3.68 | 4.50 | 4.96 | 3.51 | 2.93 | 3.16 | 4.12 | 3.82 | 2.97 |
| FFO Payout Ratio % | 0% | 69.95% | 52.38% | 44.37% | 44.44% | 38.8% | 59.39% | 65.96% | 35.96% | 72.9% | 66.01% | 62.74% | 49.03% | 44.4% | 62.75% | 75.04% | 65.96% | 50.56% | 54.58% | 70.19% |
| EPS (Diluted) | 1.65 | 1.25 | 2.56 | 3.44 | 3.16 | 4.01 | 1.84 | 1.45 | 4.25 | 1.02 | 1.36 | 1.55 | 2.38 | 2.86 | 1.43 | 0.87 | 1.12 | 2.10 | 1.82 | 1.00 |
| EPS Growth % | -47.78% | -68.83% | 39.13% | 137.24% | -25.65% | 293.14% | 35.29% | -6.45% | 78.57% | -64.34% | -4.9% | 78.16% | 112.5% | 36.19% | -21.43% | -13% | -56.76% | 42.86% | 61.06% | -22.48% |
| EPS (Basic) | 1.65 | 1.25 | 2.56 | 3.44 | 3.16 | 4.01 | 1.84 | 1.45 | 4.25 | 1.02 | 1.36 | 1.55 | 2.38 | 2.86 | 1.43 | 0.87 | 1.12 | 2.10 | 1.82 | 1.00 |
| Diluted Shares Outstanding | 64.46M | 64.46M | 64.42M | 64.39M | 64.31M | 64.25M | 64.27M | 64.23M | 64.21M | 64.19M | 64.19M | 64.18M | 64.46M | 64.73M | 65.07M | 65.29M | 65.34M | 65.33M | 65.15M | 65.08M |