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AvalonBay Communities (AVB) Financials

AvalonBay Communities logo
$201.51 +3.48 (+1.76%)
Closing price 05/27/2025 03:59 PM Eastern
Extended Trading
$201.46 -0.05 (-0.03%)
As of 05/27/2025 06:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for AvalonBay Communities

Annual Income Statements for AvalonBay Communities

This table shows AvalonBay Communities' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
1,082 929 1,137 1,004 828 786 975 877 1,034 742
Consolidated Net Income / (Loss)
1,082 928 1,136 1,004 828 786 974 877 1,034 742
Net Income / (Loss) Continuing Operations
1,024 928 1,077 1,004 828 786 974 877 1,034 742
Total Pre-Tax Income
1,083 939 1,151 1,010 824 799 974 877 1,034 743
Total Operating Income
906 885 782 590 701 836 809 567 772 724
Total Gross Profit
2,161 2,469 1,957 1,721 2,301 2,325 1,760 1,658 2,045 1,856
Total Revenue
2,907 2,776 2,587 2,292 2,301 2,325 2,285 2,159 2,045 1,856
Operating Revenue
2,907 2,776 2,587 2,292 2,301 2,325 2,285 2,159 2,045 1,856
Total Cost of Revenue
746 307 630 571 0.00 0.00 525 501 0.00 0.00
Operating Cost of Revenue
746 307 630 571 - - 525 501 - -
Total Operating Expenses
1,254 1,584 1,175 1,131 1,600 1,488 951 1,091 1,274 1,132
Selling, General & Admin Expense
78 77 74 70 60 58 60 54 46 43
Depreciation Expense
847 817 815 759 707 662 631 584 531 478
Other Operating Expenses / (Income)
328 681 291 301 823 768 242 447 683 642
Impairment Charge
2.94 9.12 0.00 3.12 0.00 0.00 0.22 6.25 -3.94 -11
Other Special Charges / (Income)
-0.75 0.15 -5.13 -1.12 9.33 0.60 17 - 7.08 -27
Total Other Income / (Expense), net
118 48 309 417 123 -37 165 310 262 20
Interest Expense
227 206 230 220 214 204 221 - 188 176
Other Income / (Expense), net
345 254 539 599 331 158 371 239 385 125
Income Tax Expense
0.45 10 15 5.73 -3.25 13 -0.16 0.14 0.31 1.48
Net Income / (Loss) Attributable to Noncontrolling Interest
0.18 -0.39 -0.34 0.06 0.08 0.13 -0.35 -0.26 -0.29 -0.31
Basic Earnings per Share
$7.61 $6.56 $8.13 $7.19 $5.89 $5.64 $7.05 $6.36 $7.53 $5.54
Weighted Average Basic Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Diluted Earnings per Share
$7.60 $6.56 $8.12 $7.19 $5.89 $5.63 $7.05 $6.35 $7.52 $5.51
Weighted Average Diluted Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Weighted Average Basic & Diluted Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Cash Dividends to Common per Share
$6.80 $6.60 $6.36 $6.36 $6.36 $6.08 $5.88 $5.68 $5.40 $5.00

Quarterly Income Statements for AvalonBay Communities

This table shows AvalonBay Communities' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
237 282 373 254 173 242 172 368 147 241 495
Consolidated Net Income / (Loss)
237 282 373 254 174 242 172 368 147 241 495
Net Income / (Loss) Continuing Operations
237 224 373 254 174 242 172 368 147 181 495
Total Pre-Tax Income
236 282 373 254 174 245 176 368 150 248 500
Total Operating Income
235 222 225 237 222 235 219 225 205 -255 520
Total Gross Profit
746 364 540 545 713 753 522 518 675 507 500
Total Revenue
746 737 733 724 713 715 698 688 675 664 665
Operating Revenue
746 737 733 724 713 715 698 688 675 664 665
Total Cost of Revenue
0.00 373 193 180 0.00 -38 175 170 0.00 157 166
Total Operating Expenses
511 141 314 307 491 518 303 293 470 762 -20
Selling, General & Admin Expense
20 18 20 20 20 18 20 18 20 21 15
Depreciation Expense
218 216 212 207 212 211 201 201 205 207 207
Other Operating Expenses / (Income)
274 -92 82 81 256 288 79 75 239 72 77
Impairment Charge
0.00 - 0.00 0.00 2.94 0.57 3.50 0.00 5.05 - 0.00
Total Other Income / (Expense), net
1.87 5.23 146 15 -48 6.56 -43 139 -55 444 -20
Interest Expense
60 59 56 57 55 49 48 52 57 57 57
Interest & Investment Income
5.11 - 31 4.82 11 - 1.93 4.97 4.85 - 44
Other Income / (Expense), net
57 111 171 67 -4.17 68 3.16 186 -2.88 548 -6.20
Income Tax Expense
-0.12 -0.25 0.78 -0.06 -0.02 2.44 4.37 -0.22 3.56 6.68 5.65
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 - 0.00 0.07 0.11 0.10 -0.24 -0.12 -0.13 -0.13 -0.12
Basic Earnings per Share
$1.66 $1.99 $2.62 $1.78 $1.22 $1.71 $1.21 $2.59 $1.05 $1.73 $3.54
Weighted Average Basic Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M
Diluted Earnings per Share
$1.66 $1.99 $2.61 $1.78 $1.22 $1.71 $1.21 $2.59 $1.05 $1.73 $3.53
Weighted Average Diluted Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M
Weighted Average Basic & Diluted Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M

Annual Cash Flow Statements for AvalonBay Communities

This table details how cash moves in and out of AvalonBay Communities' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
-264 -203 190 230 186 -90 16 -128 -175 -100
Net Cash From Operating Activities
1,608 1,560 1,422 1,203 1,220 1,322 1,301 1,256 1,160 1,075
Net Cash From Continuing Operating Activities
1,608 1,560 1,422 1,203 1,220 1,322 1,301 1,256 1,160 1,075
Net Income / (Loss) Continuing Operations
1,082 928 1,136 1,004 828 786 974 877 1,034 742
Consolidated Net Income / (Loss)
1,082 928 1,136 1,004 828 786 974 877 1,034 742
Depreciation Expense
847 817 815 759 707 662 631 584 531 478
Amortization Expense
13 13 11 10 9.33 8.94 9.64 1.74 -11 -17
Non-Cash Adjustments To Reconcile Net Income
-341 -216 -551 -577 -296 -124 -334 -242 -408 -170
Changes in Operating Assets and Liabilities, net
6.76 18 10 7.34 -28 -10 20 36 14 42
Net Cash From Investing Activities
-997 -929 -560 -624 -179 -1,194 -597 -965 -1,032 -1,200
Net Cash From Continuing Investing Activities
-997 -929 -560 -624 -179 -1,194 -597 -965 -1,032 -1,200
Purchase of Property, Plant & Equipment
-662 -413 -712 -925 -137 -561 -84 -74 -466 -56
Acquisitions
-14 -19 -14 -54 -36 -10 -350 -487 -9.75 -6.58
Sale of Property, Plant & Equipment
712 467 1,055 977 623 425 936 503 533 282
Divestitures
11 5.47 51 63 11 10 36 89 112 109
Other Investing Activities, net
-1,043 -970 -941 -686 -641 -1,058 -1,135 -997 -1,201 -1,528
Net Cash From Financing Activities
-875 -834 -671 -349 -854 -218 -689 -419 -303 25
Net Cash From Continuing Financing Activities
-875 -834 -671 -349 -854 -218 -689 -419 -303 25
Repayment of Debt
-314 -801 -158 -581 -1,097 -238 -530 -1,631 -689 -861
Repurchase of Common Equity
0.00 -1.91 0.00 0.00 -184 0.00 0.00 - - -
Payment of Dividends
-962 -923 -890 -888 -884 -840 -807 -775 -727 -657
Issuance of Debt
399 400 349 1,099 1,348 480 595 1,904 1,122 873
Issuance of Common Equity
11 497 20 32 3.46 410 52 111 16 690
Other Financing Activities, net
-8.75 -5.29 7.60 -10 -40 -28 0.97 -28 -23 -6.08
Cash Interest Paid
213 188 212 204 197 188 202 208 194 189

Quarterly Cash Flow Statements for AvalonBay Communities

This table details how cash moves in and out of AvalonBay Communities' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-48 -525 27 342 -107 -249 -167 571 -358 247 227
Net Cash From Operating Activities
416 329 486 380 413 346 471 346 396 341 440
Net Cash From Continuing Operating Activities
416 329 486 380 413 346 471 346 396 341 440
Net Income / (Loss) Continuing Operations
237 282 373 254 174 242 172 368 147 241 495
Consolidated Net Income / (Loss)
237 282 373 254 174 242 172 368 147 241 495
Depreciation Expense
218 216 212 207 212 211 201 201 205 207 207
Amortization Expense
3.23 3.29 3.39 3.33 3.28 3.28 3.10 3.12 3.23 3.12 2.77
Non-Cash Adjustments To Reconcile Net Income
-43 -101 -188 -59 6.00 -59 7.91 -177 12 -74 -346
Changes in Operating Assets and Liabilities, net
1.62 -72 86 -26 18 -51 87 -48 29 -36 82
Net Cash From Investing Activities
-428 -314 -219 -198 -266 -346 -285 -31 -267 -212 8.02
Net Cash From Continuing Investing Activities
-428 -314 -219 -198 -266 -346 -285 -31 -267 -212 8.02
Purchase of Property, Plant & Equipment
-236 -243 -270 -111 -39 -195 -136 -47 -34 554 -1,030
Acquisitions
-2.40 -4.81 -4.43 -2.85 -2.09 -5.22 -4.72 -3.33 -5.60 -2.77 -3.45
Sale of Property, Plant & Equipment
64 208 326 173 3.92 108 107 249 3.96 172 574
Other Investing Activities, net
-253 -279 -278 -257 -229 -254 -252 -233 -231 -950 434
Net Cash From Financing Activities
-36 -540 -240 160 -254 -249 -353 255 -487 118 -221
Net Cash From Continuing Financing Activities
-36 -540 -240 160 -254 -249 -353 255 -487 118 -221
Repayment of Debt
-1.17 -301 -1.34 -11 -1.02 -425 -118 -6.50 -252 -53 1.75
Payment of Dividends
-244 -242 -242 -241 -238 -234 -234 -230 -224 -222 -222
Issuance of Debt
225 - 0.00 - - 400 - - - - -
Issuance of Common Equity
0.69 3.30 3.26 3.61 0.37 1.90 -0.15 495 0.14 18 -0.05
Other Financing Activities, net
-17 -0.80 -0.58 8.92 -16 7.87 -0.55 -2.30 -10 24 -0.49
Cash Interest Paid
40 78 33 65 37 57 36 60 34 67 38

Annual Balance Sheets for AvalonBay Communities

This table presents AvalonBay Communities' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
21,001 20,678 20,458 19,902 19,199 19,121 18,380 18,415 17,867 16,931
Total Current Assets
808 927 1,051 649 441 40 92 320 493 617
Cash & Equivalents
109 398 613 420 217 40 92 67 215 401
Restricted Cash
159 133 121 - - - - - - -
Prepaid Expenses
541 396 317 211 208 - - 253 257 199
Plant, Property, & Equipment, net
19,767 19,343 18,993 18,398 17,840 17,936 17,591 17,649 16,928 15,440
Plant, Property & Equipment, gross
27,931 26,865 25,871 24,607 23,540 23,101 22,192 21,868 20,671 18,744
Accumulated Depreciation
8,164 7,522 6,879 6,209 5,700 5,164 4,601 4,218 3,744 3,304
Total Noncurrent Assets
426 408 414 855 918 1,145 698 445 447 874
Long-Term Investments
227 220 212 216 203 166 217 163 175 217
Other Noncurrent Operating Assets
198 188 202 638 715 979 425 282 272 657
Total Liabilities & Shareholders' Equity
21,001 20,678 20,458 19,902 19,199 19,121 18,380 18,415 17,867 16,931
Total Liabilities
9,060 8,893 9,202 8,966 8,444 8,128 7,744 8,021 7,688 7,081
Total Current Liabilities
357 311 306 296 275 274 298 308 275 261
Accrued Expenses
357 311 306 296 275 274 298 308 275 260
Total Noncurrent Liabilities
8,703 8,583 8,895 8,670 8,170 7,854 7,447 7,713 7,413 6,820
Long-Term Debt
8,077 7,982 8,316 8,104 7,564 7,296 7,040 7,329 7,031 6,457
Other Noncurrent Operating Liabilities
625 601 579 566 605 557 406 383 382 363
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 1.47 2.69 3.37 2.68 3.25 3.24 6.06 7.77 10.00
Total Equity & Noncontrolling Interests
11,941 11,783 11,254 10,933 10,752 10,990 10,633 10,388 10,171 9,841
Total Preferred & Common Equity
11,941 11,783 11,253 10,933 10,752 10,990 10,633 10,388 10,171 9,841
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
11,941 11,783 11,253 10,933 10,752 10,990 10,633 10,388 10,171 9,841
Common Stock
11,316 11,289 10,767 10,718 10,666 10,738 10,308 10,237 10,107 10,070
Retained Earnings
591 478 485 241 126 283 351 189 95 -198
Accumulated Other Comprehensive Income / (Loss)
34 16 1.42 -26 -40 -32 -26 -37 -31 -31

Quarterly Balance Sheets for AvalonBay Communities

This table presents AvalonBay Communities' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
21,216 21,001 21,308 21,037 20,641 20,678 20,703 20,806 20,175 20,458 20,165
Total Current Assets
778 808 1,304 1,220 861 927 1,142 1,281 563 1,051 475
Cash & Equivalents
53 109 552 546 288 398 509 770 254 613 201
Restricted Cash
166 159 240 220 136 133 272 177 - 121 -
Prepaid Expenses
559 541 512 455 438 396 362 334 297 317 274
Plant, Property, & Equipment, net
20,002 19,767 19,570 19,413 19,373 19,343 19,143 19,062 18,854 18,993 18,949
Plant, Property & Equipment, gross
28,354 27,931 27,560 27,224 27,093 26,865 26,492 26,255 25,912 25,871 25,621
Accumulated Depreciation
8,352 8,164 7,990 7,812 7,721 7,522 7,349 7,193 7,058 6,879 6,672
Total Noncurrent Assets
435 426 434 404 407 408 417 463 758 414 741
Long-Term Investments
227 227 228 222 220 220 217 217 219 212 217
Other Noncurrent Operating Assets
208 198 207 182 187 188 200 247 538 202 524
Total Liabilities & Shareholders' Equity
21,216 21,001 21,308 21,037 20,641 20,678 20,703 20,806 20,175 20,458 20,165
Total Liabilities
9,299 9,060 9,424 9,296 8,925 8,893 8,924 8,989 9,003 9,202 8,951
Total Current Liabilities
352 357 403 316 324 311 758 645 323 306 340
Accrued Expenses
352 357 403 316 324 311 425 319 323 306 339
Total Noncurrent Liabilities
8,948 8,703 9,021 8,980 8,601 8,583 8,165 8,344 8,680 8,895 8,612
Long-Term Debt
8,078 8,077 8,375 8,374 7,983 7,982 7,877 8,063 8,067 8,316 7,968
Other Noncurrent Operating Liabilities
869 625 646 606 618 601 288 281 613 579 644
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
11,916 11,941 11,885 11,741 11,714 11,783 11,778 11,816 11,169 11,254 11,211
Total Preferred & Common Equity
11,916 11,941 11,885 11,741 11,714 11,783 11,778 11,815 11,169 11,253 11,210
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
11,916 11,941 11,885 11,741 11,714 11,783 11,778 11,815 11,169 11,253 11,210
Common Stock
11,309 11,316 11,305 11,292 11,281 11,289 11,280 11,271 10,766 10,767 10,740
Retained Earnings
576 591 551 421 409 478 471 534 402 485 467
Accumulated Other Comprehensive Income / (Loss)
30 34 28 28 24 16 26 11 1.44 1.42 3.04

Annual Metrics And Ratios for AvalonBay Communities

This table displays calculated financial ratios and metrics derived from AvalonBay Communities' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
4.72% 7.29% 12.89% -0.41% -1.01% 1.75% 5.83% 5.54% 10.20% 10.15%
EBITDA Growth
7.27% -8.34% 9.71% 11.93% 5.06% -8.57% 30.79% -16.99% 28.06% 40.21%
EBIT Growth
9.89% -13.82% 11.15% 15.18% 3.84% -15.74% 46.36% -30.31% 36.26% 63.31%
NOPAT Growth
3.54% 13.29% 31.71% -16.68% -14.44% 1.71% 42.65% -26.50% 6.84% 68.43%
Net Income Growth
16.56% -18.30% 13.15% 21.34% 5.29% -19.31% 11.12% -15.19% 39.36% 6.37%
EPS Growth
15.85% -19.21% 12.93% 22.07% 4.62% -20.14% 11.02% -15.56% 36.48% 5.76%
Operating Cash Flow Growth
3.07% 9.71% 18.18% -1.35% -7.73% 1.59% 3.57% 8.27% 7.97% 21.21%
Free Cash Flow Firm Growth
-18.11% -8.91% 541.48% -90.82% 1,709.45% -94.95% 885.09% 64.51% 8.15% -40.26%
Invested Capital Growth
2.67% 2.09% 1.30% 2.81% -1.11% 4.46% -1.04% 4.13% 7.19% 7.61%
Revenue Q/Q Growth
1.30% 1.87% 2.62% 1.91% -1.64% 0.65% 1.03% 1.75% 1.86% 2.21%
EBITDA Q/Q Growth
2.44% 0.70% -8.08% 6.58% 11.59% -13.72% 28.59% -10.87% 4.23% 21.32%
EBIT Q/Q Growth
3.77% 0.89% -13.11% 9.32% 20.42% -21.80% 51.87% -19.22% 4.52% 34.52%
NOPAT Q/Q Growth
0.54% 125.24% -38.43% 14.60% -8.36% -4.44% 69.00% -32.19% 0.70% 37.16%
Net Income Q/Q Growth
3.84% 0.10% -7.65% -0.58% 26.51% -21.71% 17.94% -0.53% 9.17% 1.76%
EPS Q/Q Growth
3.83% -0.30% -7.62% -0.55% 26.94% -22.13% 18.09% -0.78% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
-1.07% 0.30% 3.65% 2.90% -3.89% -1.02% -0.15% 1.86% 1.68% 3.38%
Free Cash Flow Firm Q/Q Growth
-28.71% 89.40% 7.90% -82.04% 67.79% -93.44% 922.58% -211.67% -79.80% 30.58%
Invested Capital Q/Q Growth
1.48% 0.63% -0.74% 2.13% -0.40% 2.02% -1.79% 1.43% 1.67% 0.73%
Profitability Metrics
- - - - - - - - - -
Gross Margin
74.34% 88.95% 75.64% 75.09% 100.00% 100.00% 77.02% 76.79% 100.00% 100.00%
EBITDA Margin
72.65% 70.92% 83.01% 85.42% 76.00% 71.61% 79.69% 64.48% 81.98% 70.55%
Operating Margin
31.19% 31.88% 30.24% 25.74% 30.47% 35.98% 35.40% 26.27% 37.73% 38.98%
EBIT Margin
43.05% 41.03% 51.08% 51.87% 44.85% 42.76% 51.64% 37.34% 56.55% 45.73%
Profit (Net Income) Margin
37.23% 33.45% 43.93% 43.82% 35.97% 33.82% 42.64% 40.61% 50.54% 39.96%
Tax Burden Percent
99.96% 98.92% 98.73% 99.43% 100.39% 98.37% 100.02% 99.98% 99.97% 99.80%
Interest Burden Percent
86.51% 82.42% 87.11% 84.96% 79.87% 80.39% 82.56% 108.78% 89.40% 87.56%
Effective Tax Rate
0.04% 1.08% 1.27% 0.57% -0.39% 1.63% -0.02% 0.02% 0.03% 0.20%
Return on Invested Capital (ROIC)
4.70% 4.65% 4.17% 3.23% 3.91% 4.65% 4.65% 3.31% 4.75% 4.78%
ROIC Less NNEP Spread (ROIC-NNEP)
7.08% 5.38% 9.09% 8.97% 5.66% 4.12% 7.05% 7.82% 8.97% 5.12%
Return on Net Nonoperating Assets (RNNOA)
4.42% 3.41% 6.07% 6.03% 3.70% 2.62% 4.62% 5.22% 5.57% 3.07%
Return on Equity (ROE)
9.12% 8.06% 10.24% 9.26% 7.61% 7.27% 9.26% 8.52% 10.32% 7.85%
Cash Return on Invested Capital (CROIC)
2.06% 2.58% 2.88% 0.46% 5.03% 0.28% 5.69% -0.74% -2.19% -2.56%
Operating Return on Assets (OROA)
6.01% 5.54% 6.55% 6.08% 5.39% 5.30% 6.41% 4.44% 6.65% 5.13%
Return on Assets (ROA)
5.19% 4.51% 5.63% 5.14% 4.32% 4.19% 5.30% 4.83% 5.94% 4.49%
Return on Common Equity (ROCE)
9.12% 8.06% 10.24% 9.26% 7.61% 7.27% 9.26% 8.52% 10.31% 7.84%
Return on Equity Simple (ROE_SIMPLE)
9.06% 7.88% 10.10% 9.19% 7.70% 7.15% 9.16% 8.44% 10.16% 7.54%
Net Operating Profit after Tax (NOPAT)
906 875 772 586 704 823 809 567 771 722
NOPAT Margin
31.17% 31.53% 29.86% 25.59% 30.59% 35.39% 35.41% 26.27% 37.72% 38.91%
Net Nonoperating Expense Percent (NNEP)
-2.38% -0.73% -4.91% -5.73% -1.74% 0.53% -2.40% -4.51% -4.21% -0.35%
Return On Investment Capital (ROIC_SIMPLE)
4.53% 4.43% 3.95% - - - - - - -
Cost of Revenue to Revenue
25.66% 11.05% 24.36% 24.91% 0.00% 0.00% 22.98% 23.21% 0.00% 0.00%
SG&A Expenses to Revenue
2.67% 2.76% 2.86% 3.04% 2.62% 2.50% 2.64% 2.49% 2.24% 2.30%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
43.15% 57.07% 45.40% 49.35% 69.53% 64.02% 41.62% 50.52% 62.27% 61.02%
Earnings before Interest and Taxes (EBIT)
1,251 1,139 1,321 1,189 1,032 994 1,180 806 1,157 849
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
2,112 1,969 2,148 1,958 1,749 1,665 1,821 1,392 1,677 1,309
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
2.62 2.18 1.87 2.96 1.85 2.27 1.87 1.90 1.86 1.93
Price to Tangible Book Value (P/TBV)
2.62 2.18 1.87 2.96 1.85 2.27 1.87 1.90 1.86 1.93
Price to Revenue (P/Rev)
10.76 9.27 8.14 14.11 8.65 10.75 8.72 9.13 9.23 10.22
Price to Earnings (P/E)
28.92 27.69 18.52 32.19 24.06 31.79 20.45 22.48 18.25 25.56
Dividend Yield
3.09% 3.64% 4.23% 2.75% 4.46% 3.40% 4.08% 3.98% 3.93% 3.61%
Earnings Yield
3.46% 3.61% 5.40% 3.11% 4.16% 3.15% 4.89% 4.45% 5.48% 3.91%
Enterprise Value to Invested Capital (EV/IC)
1.99 1.73 1.53 2.16 1.51 1.77 1.54 1.53 1.52 1.58
Enterprise Value to Revenue (EV/Rev)
13.37 11.87 10.99 17.36 11.76 13.80 11.67 12.42 12.48 13.37
Enterprise Value to EBITDA (EV/EBITDA)
18.41 16.74 13.24 20.33 15.47 19.27 14.65 19.27 15.22 18.95
Enterprise Value to EBIT (EV/EBIT)
31.06 28.94 21.51 33.47 26.22 32.28 22.60 33.27 22.06 29.24
Enterprise Value to NOPAT (EV/NOPAT)
42.90 37.66 36.80 67.86 38.45 39.00 32.96 47.30 33.08 34.37
Enterprise Value to Operating Cash Flow (EV/OCF)
24.18 21.12 19.99 33.08 22.19 24.27 20.49 21.35 21.99 23.09
Enterprise Value to Free Cash Flow (EV/FCFF)
97.74 67.86 53.33 478.84 29.89 641.25 26.94 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.68 0.68 0.74 0.74 0.70 0.66 0.66 0.71 0.69 0.66
Long-Term Debt to Equity
0.68 0.68 0.74 0.74 0.70 0.66 0.66 0.71 0.69 0.66
Financial Leverage
0.62 0.63 0.67 0.67 0.65 0.64 0.66 0.67 0.62 0.60
Leverage Ratio
1.76 1.79 1.82 1.80 1.76 1.73 1.75 1.76 1.74 1.75
Compound Leverage Factor
1.52 1.47 1.58 1.53 1.41 1.39 1.44 1.92 1.55 1.53
Debt to Total Capital
40.35% 40.38% 42.49% 42.56% 41.29% 39.89% 39.83% 41.35% 40.85% 39.60%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
40.35% 40.38% 42.49% 42.56% 41.29% 39.89% 39.83% 41.35% 40.85% 39.60%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.03% 0.05% 0.06%
Common Equity to Total Capital
59.65% 59.61% 57.50% 57.42% 58.69% 60.09% 60.15% 58.61% 59.10% 60.34%
Debt to EBITDA
3.83 4.05 3.87 4.14 4.33 4.38 3.87 5.27 4.19 4.93
Net Debt to EBITDA
3.59 3.67 3.43 3.81 4.09 4.26 3.70 5.10 3.96 4.46
Long-Term Debt to EBITDA
3.83 4.05 3.87 4.14 4.33 4.38 3.87 5.27 4.19 4.93
Debt to NOPAT
8.91 9.12 10.77 13.82 10.75 8.87 8.70 12.93 9.11 8.94
Net Debt to NOPAT
8.37 8.26 9.54 12.73 10.15 8.62 8.32 12.52 8.61 8.09
Long-Term Debt to NOPAT
8.91 9.12 10.77 13.82 10.75 8.87 8.70 12.93 9.11 8.94
Altman Z-Score
2.47 2.12 1.79 2.51 1.73 2.14 1.89 1.75 1.82 1.89
Noncontrolling Interest Sharing Ratio
0.01% 0.02% 0.03% 0.03% 0.03% 0.03% 0.04% 0.07% 0.09% 0.12%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
2.26 2.98 3.43 2.19 1.61 0.14 0.31 1.04 1.79 2.37
Quick Ratio
0.30 1.28 2.00 1.42 0.79 0.14 0.31 0.22 0.78 1.54
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
398 486 533 83 905 50 990 -126 -355 -387
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 967.72% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
1.76 2.36 2.32 0.38 4.23 0.25 4.48 0.00 -1.89 -2.20
Operating Cash Flow to Interest Expense
7.10 7.57 6.18 5.46 5.70 6.49 5.89 0.00 6.19 6.12
Operating Cash Flow Less CapEx to Interest Expense
7.31 7.84 7.67 5.70 7.97 5.82 9.75 0.00 6.54 7.41
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.14 0.13 0.13 0.12 0.12 0.12 0.12 0.12 0.12 0.11
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.15 0.14 0.14 0.13 0.13 0.13 0.13 0.12 0.13 0.12
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
19,524 19,016 18,626 18,387 17,883 18,085 17,312 17,493 16,800 15,673
Invested Capital Turnover
0.15 0.15 0.14 0.13 0.13 0.13 0.13 0.13 0.13 0.12
Increase / (Decrease) in Invested Capital
508 390 239 503 -201 773 -181 693 1,127 1,109
Enterprise Value (EV)
38,871 32,955 28,430 39,796 27,062 32,083 26,663 26,817 25,517 24,817
Market Capitalization
31,288 25,723 21,057 32,325 19,914 24,988 19,928 19,712 18,869 18,968
Book Value per Share
$83.95 $82.97 $80.44 $78.23 $77.01 $78.69 $76.92 $75.23 $74.07 $71.89
Tangible Book Value per Share
$83.95 $82.97 $80.44 $78.23 $77.01 $78.69 $76.92 $75.23 $74.07 $71.89
Total Capital
20,018 19,767 19,572 19,040 18,319 18,290 17,676 17,724 17,210 16,307
Total Debt
8,077 7,982 8,316 8,104 7,564 7,296 7,040 7,329 7,031 6,457
Total Long-Term Debt
8,077 7,982 8,316 8,104 7,564 7,296 7,040 7,329 7,031 6,457
Net Debt
7,583 7,231 7,370 7,467 7,145 7,091 6,731 7,099 6,641 5,840
Capital Expenditures (CapEx)
-49 -54 -344 -52 -486 137 -853 -429 -67 -226
Debt-free, Cash-free Net Working Capital (DFCFNWC)
184 86 11 -67 -50 -274 -298 -55 2.30 -44
Debt-free Net Working Capital (DFNWC)
451 617 745 353 167 -234 -206 12 217 357
Net Working Capital (NWC)
451 617 745 353 167 -234 -206 12 217 357
Net Nonoperating Expense (NNE)
-176 -53 -364 -418 -124 37 -165 -310 -262 -20
Net Nonoperating Obligations (NNO)
7,583 7,231 7,370 7,450 7,128 7,091 6,676 7,099 6,621 5,823
Total Depreciation and Amortization (D&A)
860 830 826 769 717 671 641 586 520 461
Debt-free, Cash-free Net Working Capital to Revenue
6.33% 3.08% 0.41% -2.94% -2.19% -11.79% -13.04% -2.54% 0.11% -2.37%
Debt-free Net Working Capital to Revenue
15.52% 22.21% 28.79% 15.39% 7.24% -10.08% -9.03% 0.57% 10.62% 19.21%
Net Working Capital to Revenue
15.52% 22.21% 28.79% 15.39% 7.24% -10.08% -9.03% 0.57% 10.62% 19.21%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$7.61 $6.56 $8.13 $7.19 $5.89 $5.64 $7.05 $6.36 $7.53 $5.54
Adjusted Weighted Average Basic Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Adjusted Diluted Earnings per Share
$7.60 $6.56 $8.12 $7.19 $5.89 $5.63 $7.05 $6.35 $7.52 $5.51
Adjusted Weighted Average Diluted Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
142.25M 142.03M 139.92M 139.75M 139.53M 140.64M 138.51M 138.10M 137.33M 137.00M
Normalized Net Operating Profit after Tax (NOPAT)
908 884 767 588 497 823 578 573 785 692
Normalized NOPAT Margin
31.25% 31.86% 29.66% 25.68% 21.61% 35.42% 25.32% 26.56% 38.36% 37.27%
Pre Tax Income Margin
37.25% 33.82% 44.49% 44.07% 35.83% 34.38% 42.64% 40.62% 50.56% 40.04%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
5.52 5.53 5.74 5.39 4.82 4.88 5.34 0.00 6.17 4.83
NOPAT to Interest Expense
4.00 4.25 3.36 2.66 3.29 4.04 3.66 0.00 4.11 4.11
EBIT Less CapEx to Interest Expense
5.74 5.79 7.24 5.63 7.09 4.21 9.20 0.00 6.52 6.12
NOPAT Less CapEx to Interest Expense
4.22 4.51 4.85 2.90 5.56 3.37 7.52 0.00 4.47 5.40
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
88.89% 99.38% 78.28% 88.45% 106.77% 106.81% 82.82% 88.42% 70.35% 88.54%
Augmented Payout Ratio
88.89% 99.58% 78.28% 88.45% 128.98% 106.81% 82.82% 88.42% 70.35% 88.54%

Quarterly Metrics And Ratios for AvalonBay Communities

This table displays calculated financial ratios and metrics derived from AvalonBay Communities' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
4.63% 3.06% 5.01% 5.24% 5.65% 7.69% 4.86% 6.76% 10.04% 11.03% 14.55%
EBITDA Growth
18.32% 6.75% 43.63% -16.34% 5.54% 2.71% -41.07% 55.08% -21.77% -27.27% 121.68%
EBIT Growth
33.93% 9.92% 78.58% -26.03% 7.49% 3.42% -56.77% 111.32% -36.78% -40.50% 295.44%
NOPAT Growth
7.96% -4.39% 5.27% 5.20% 10.65% 193.84% -58.47% 14.54% -36.95% -209.34% 311.51%
Net Income Growth
36.32% 16.54% 116.85% -30.94% 18.25% 0.37% -65.27% 165.44% -44.00% -28.07% 527.33%
EPS Growth
36.07% 16.37% 115.70% -31.27% 16.19% -1.16% -65.72% 161.62% -43.85% -27.92% 530.36%
Operating Cash Flow Growth
0.73% -5.02% 3.16% 9.68% 4.24% 1.37% 7.01% 16.90% 15.26% 17.18% 28.35%
Free Cash Flow Firm Growth
-207.98% -82.38% -245.90% 134.88% 38.50% 67.85% 133.00% 58.39% 44.77% -76.32% -424.47%
Invested Capital Growth
2.59% 2.67% 1.82% 0.92% 1.61% 2.09% 0.70% 2.18% 1.79% 1.30% 4.22%
Revenue Q/Q Growth
1.20% 0.60% 1.16% 1.59% 1.88% 2.51% 1.38% 1.99% 1.60% -0.18% 3.22%
EBITDA Q/Q Growth
-7.15% -9.86% 18.95% 18.85% -13.61% 21.29% -30.72% 49.93% -18.47% -30.41% 82.32%
EBIT Q/Q Growth
-12.54% -16.05% 30.31% 39.97% -24.30% 36.39% -46.02% 103.40% -30.93% -42.99% 163.86%
NOPAT Q/Q Growth
5.45% -0.97% -5.28% 7.05% 13.20% 9.04% -5.34% 12.60% 180.74% -148.26% 161.06%
Net Income Q/Q Growth
-16.13% -24.27% 46.66% 46.35% -28.30% 40.91% -53.29% 150.59% -39.14% -51.24% 256.96%
EPS Q/Q Growth
-16.58% -23.75% 46.63% 45.90% -28.66% 41.32% -53.28% 146.67% -39.31% -50.99% 256.57%
Operating Cash Flow Q/Q Growth
26.49% -32.37% 27.94% -7.97% 19.27% -26.54% 36.02% -12.54% 16.00% -22.46% 48.60%
Free Cash Flow Firm Q/Q Growth
9.29% -140.82% -289.68% 178.27% 58.74% -292.65% 145.34% -38.03% 73.33% -97.74% 42.83%
Invested Capital Q/Q Growth
0.13% 1.48% 0.58% 0.38% 0.21% 0.63% -0.30% 1.07% 0.68% -0.74% 1.16%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
100.00% 49.36% 73.65% 75.20% 100.00% 105.35% 74.89% 75.32% 100.00% 76.38% 75.11%
EBITDA Margin
68.69% 74.87% 83.56% 71.06% 60.74% 72.28% 61.09% 89.39% 60.81% 75.78% 108.71%
Operating Margin
31.45% 30.17% 30.74% 32.76% 31.09% 32.88% 31.38% 32.76% 30.41% -38.40% 78.16%
EBIT Margin
39.05% 45.18% 54.14% 42.03% 30.50% 42.36% 31.84% 59.80% 29.99% 44.11% 77.23%
Profit (Net Income) Margin
31.72% 38.27% 50.85% 35.07% 24.35% 33.85% 24.62% 53.45% 21.75% 36.31% 74.35%
Tax Burden Percent
100.05% 100.09% 99.79% 100.02% 100.01% 99.00% 97.52% 100.06% 97.63% 97.30% 98.87%
Interest Burden Percent
81.20% 84.64% 94.12% 83.43% 79.80% 80.71% 79.31% 89.33% 74.31% 84.62% 97.37%
Effective Tax Rate
-0.05% -0.09% 0.21% -0.02% -0.01% 1.00% 2.48% -0.06% 2.37% 2.70% 1.13%
Return on Invested Capital (ROIC)
4.79% 4.56% 4.62% 4.88% 4.60% 4.80% 4.43% 4.71% 4.23% -5.22% 10.60%
ROIC Less NNEP Spread (ROIC-NNEP)
4.82% 5.36% 6.66% 5.11% 3.96% 4.93% 3.86% 6.63% 3.52% 1.38% 10.33%
Return on Net Nonoperating Assets (RNNOA)
3.05% 3.35% 4.07% 3.15% 2.58% 3.12% 2.46% 4.31% 2.39% 0.92% 6.93%
Return on Equity (ROE)
7.85% 7.90% 8.69% 8.03% 7.18% 7.92% 6.89% 9.01% 6.62% -4.30% 17.53%
Cash Return on Invested Capital (CROIC)
2.22% 2.06% 2.93% 3.76% 3.06% 2.58% 1.36% 1.50% 1.76% 2.88% 2.69%
Operating Return on Assets (OROA)
5.48% 6.30% 7.40% 5.69% 4.18% 5.72% 4.25% 7.94% 3.97% 5.65% 9.82%
Return on Assets (ROA)
4.46% 5.34% 6.95% 4.75% 3.34% 4.57% 3.28% 7.09% 2.88% 4.66% 9.46%
Return on Common Equity (ROCE)
7.84% 7.90% 8.69% 8.03% 7.18% 7.92% 6.89% 9.01% 6.61% -4.30% 17.52%
Return on Equity Simple (ROE_SIMPLE)
9.61% 0.00% 8.77% 7.17% 8.15% 0.00% 7.88% 10.58% 9.14% 0.00% 10.98%
Net Operating Profit after Tax (NOPAT)
235 223 225 237 222 233 214 226 200 -248 514
NOPAT Margin
31.47% 30.20% 30.68% 32.77% 31.09% 32.56% 30.61% 32.78% 29.69% -37.36% 77.28%
Net Nonoperating Expense Percent (NNEP)
-0.03% -0.80% -2.04% -0.23% 0.64% -0.13% 0.57% -1.93% 0.71% -6.60% 0.26%
Return On Investment Capital (ROIC_SIMPLE)
1.17% 1.11% - - - 1.18% - - - -1.27% -
Cost of Revenue to Revenue
0.00% 50.64% 26.35% 24.80% 0.00% -5.35% 25.11% 24.68% 0.00% 23.62% 24.89%
SG&A Expenses to Revenue
2.65% 2.40% 2.74% 2.70% 2.85% 2.52% 2.93% 2.57% 3.02% 3.12% 2.20%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
68.55% 19.19% 42.90% 42.44% 68.91% 72.46% 43.50% 42.56% 69.59% 114.77% -3.05%
Earnings before Interest and Taxes (EBIT)
291 333 397 304 217 303 222 411 202 293 514
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
512 552 612 515 433 517 426 615 410 503 723
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.56 2.62 2.70 2.51 2.23 2.18 2.00 2.19 2.01 1.87 2.15
Price to Tangible Book Value (P/TBV)
2.56 2.62 2.70 2.51 2.23 2.18 2.00 2.19 2.01 1.87 2.15
Price to Revenue (P/Rev)
10.39 10.76 11.16 10.38 9.34 9.27 8.65 9.63 8.49 8.14 9.57
Price to Earnings (P/E)
26.66 28.92 30.75 34.96 27.36 27.69 25.40 20.72 22.01 18.52 19.61
Dividend Yield
3.19% 3.09% 3.00% 3.24% 3.61% 3.64% 3.94% 3.55% 4.00% 4.23% 3.69%
Earnings Yield
3.75% 3.46% 3.25% 2.86% 3.66% 3.61% 3.94% 4.83% 4.54% 5.40% 5.10%
Enterprise Value to Invested Capital (EV/IC)
1.95 1.99 2.05 1.92 1.76 1.73 1.61 1.73 1.60 1.53 1.69
Enterprise Value to Revenue (EV/Rev)
12.98 13.37 13.73 12.98 11.96 11.87 11.18 12.19 11.36 10.99 12.57
Enterprise Value to EBITDA (EV/EBITDA)
17.42 18.41 19.11 19.63 16.94 16.74 15.58 14.58 14.79 13.24 13.56
Enterprise Value to EBIT (EV/EBIT)
28.80 31.06 32.66 35.68 29.40 28.94 26.98 23.11 24.99 21.51 20.83
Enterprise Value to NOPAT (EV/NOPAT)
41.33 42.90 43.70 41.33 38.05 37.66 78.38 47.78 45.79 36.80 25.25
Enterprise Value to Operating Cash Flow (EV/OCF)
23.69 24.18 24.24 22.85 21.23 21.12 19.58 21.53 20.40 19.99 23.10
Enterprise Value to Free Cash Flow (EV/FCFF)
88.87 97.74 70.61 51.41 57.89 67.86 118.78 116.38 92.13 53.33 64.13
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.68 0.68 0.70 0.71 0.68 0.68 0.67 0.68 0.72 0.74 0.71
Long-Term Debt to Equity
0.68 0.68 0.70 0.71 0.68 0.68 0.67 0.68 0.72 0.74 0.71
Financial Leverage
0.63 0.62 0.61 0.62 0.65 0.63 0.64 0.65 0.68 0.67 0.67
Leverage Ratio
1.77 1.76 1.78 1.78 1.78 1.79 1.78 1.78 1.81 1.82 1.80
Compound Leverage Factor
1.44 1.49 1.67 1.48 1.42 1.44 1.41 1.59 1.34 1.54 1.75
Debt to Total Capital
40.40% 40.35% 41.34% 41.63% 40.53% 40.38% 40.07% 40.56% 41.93% 42.49% 41.54%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
40.40% 40.35% 41.34% 41.63% 40.53% 40.38% 40.07% 40.56% 41.93% 42.49% 41.54%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.00% 0.01% 0.01% 0.02%
Common Equity to Total Capital
59.60% 59.65% 58.66% 58.37% 59.47% 59.61% 59.92% 59.44% 58.06% 57.50% 58.44%
Debt to EBITDA
3.69 3.83 4.06 4.47 4.04 4.05 4.03 3.58 3.97 3.87 3.41
Net Debt to EBITDA
3.48 3.59 3.57 3.94 3.71 3.67 3.52 3.06 3.73 3.43 3.23
Long-Term Debt to EBITDA
3.69 3.83 4.06 4.47 4.04 4.05 4.03 3.58 3.97 3.87 3.41
Debt to NOPAT
8.75 8.91 9.29 9.40 9.07 9.12 20.27 11.74 12.28 10.77 6.35
Net Debt to NOPAT
8.27 8.37 8.16 8.29 8.34 8.26 17.71 10.04 11.56 9.54 6.02
Long-Term Debt to NOPAT
8.75 8.91 9.29 9.40 9.07 9.12 20.27 11.74 12.28 10.77 6.35
Altman Z-Score
2.22 2.33 2.32 2.16 1.99 1.99 1.81 2.00 1.70 1.62 1.87
Noncontrolling Interest Sharing Ratio
0.01% 0.01% 0.01% 0.00% 0.02% 0.02% 0.02% 0.02% 0.03% 0.03% 0.03%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
2.21 2.26 3.24 3.86 2.66 2.98 1.51 1.99 1.74 3.43 1.40
Quick Ratio
0.15 0.30 1.37 1.73 0.89 1.28 0.67 1.19 0.79 2.00 0.59
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-259 -286 -119 63 -80 -157 81 -179 -130 -487 -247
Operating Cash Flow to CapEx
241.48% 949.61% 0.00% 0.00% 1,187.60% 396.04% 1,587.65% 0.00% 1,297.98% 0.00% 96.58%
Free Cash Flow to Firm to Interest Expense
-4.33 -4.85 -2.13 1.10 -1.46 -3.17 1.69 -3.48 -2.29 -8.48 -4.30
Operating Cash Flow to Interest Expense
6.95 5.58 8.72 6.66 7.54 7.00 9.79 6.72 6.97 5.94 7.69
Operating Cash Flow Less CapEx to Interest Expense
4.07 4.99 9.73 7.75 6.90 5.23 9.18 10.63 6.43 18.56 -0.27
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.14 0.14 0.14 0.14 0.14 0.13 0.13 0.13 0.13 0.13 0.13
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.15 0.15 0.15 0.15 0.15 0.14 0.14 0.14 0.14 0.14 0.14
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
19,549 19,524 19,240 19,128 19,055 19,016 18,896 18,953 18,753 18,626 18,764
Invested Capital Turnover
0.15 0.15 0.15 0.15 0.15 0.15 0.14 0.14 0.14 0.14 0.14
Increase / (Decrease) in Invested Capital
494 508 343 175 302 390 132 405 330 239 761
Enterprise Value (EV)
38,163 38,871 39,389 36,803 33,476 32,955 30,455 32,823 30,077 28,430 31,685
Market Capitalization
30,531 31,288 32,034 29,417 26,135 25,723 23,573 25,924 22,481 21,057 24,132
Book Value per Share
$83.77 $83.95 $83.57 $82.58 $82.39 $82.97 $82.93 $83.21 $79.83 $80.44 $80.17
Tangible Book Value per Share
$83.77 $83.95 $83.57 $82.58 $82.39 $82.97 $82.93 $83.21 $79.83 $80.44 $80.17
Total Capital
19,995 20,018 20,260 20,116 19,699 19,767 19,656 19,878 19,239 19,572 19,181
Total Debt
8,078 8,077 8,375 8,374 7,983 7,982 7,877 8,063 8,067 8,316 7,968
Total Long-Term Debt
8,078 8,077 8,375 8,374 7,983 7,982 7,877 8,063 8,067 8,316 7,968
Net Debt
7,633 7,583 7,355 7,387 7,339 7,231 6,879 6,899 7,593 7,370 7,550
Capital Expenditures (CapEx)
172 35 -56 -62 35 87 30 -202 31 -725 456
Debt-free, Cash-free Net Working Capital (DFCFNWC)
207 184 109 139 114 86 -396 -311 -14 11 -65
Debt-free Net Working Capital (DFNWC)
427 451 902 905 537 617 384 636 240 745 136
Net Working Capital (NWC)
427 451 902 905 537 617 384 636 240 745 136
Net Nonoperating Expense (NNE)
-1.87 -59 -148 -17 48 -9.25 42 -142 54 -489 19
Net Nonoperating Obligations (NNO)
7,633 7,583 7,355 7,387 7,339 7,231 7,117 7,138 7,581 7,370 7,551
Total Depreciation and Amortization (D&A)
221 219 216 210 216 214 204 204 208 210 209
Debt-free, Cash-free Net Working Capital to Revenue
7.06% 6.33% 3.81% 4.91% 4.07% 3.08% -14.53% -11.55% -0.53% 0.41% -2.60%
Debt-free Net Working Capital to Revenue
14.51% 15.52% 31.42% 31.91% 19.20% 22.21% 14.10% 23.63% 9.08% 28.79% 5.38%
Net Working Capital to Revenue
14.51% 15.52% 31.42% 31.91% 19.20% 22.21% 14.10% 23.63% 9.08% 28.79% 5.38%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.66 $1.99 $2.62 $1.78 $1.22 $1.71 $1.21 $2.59 $1.05 $1.73 $3.54
Adjusted Weighted Average Basic Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M
Adjusted Diluted Earnings per Share
$1.66 $1.99 $2.61 $1.78 $1.22 $1.71 $1.21 $2.59 $1.05 $1.73 $3.53
Adjusted Weighted Average Diluted Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
142.37M 142.25M 142.24M 142.22M 142.19M 142.03M 142.02M 142.02M 142.00M 139.92M 139.90M
Normalized Net Operating Profit after Tax (NOPAT)
164 156 224 166 157 233 217 158 205 -248 199
Normalized NOPAT Margin
22.02% 21.12% 30.64% 22.91% 22.05% 32.63% 31.09% 22.90% 30.42% -37.36% 29.98%
Pre Tax Income Margin
31.71% 38.24% 50.96% 35.07% 24.34% 34.19% 25.25% 53.42% 22.28% 37.32% 75.20%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
4.86 5.65 7.11 5.33 3.97 6.12 4.62 7.98 3.56 5.10 8.97
NOPAT to Interest Expense
3.92 3.77 4.03 4.16 4.05 4.71 4.44 4.37 3.53 -4.32 8.97
EBIT Less CapEx to Interest Expense
1.99 5.06 8.12 6.42 3.34 4.36 4.00 11.89 3.02 17.72 1.01
NOPAT Less CapEx to Interest Expense
1.04 3.19 5.04 5.25 3.41 2.94 3.82 8.28 2.99 8.30 1.01
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
84.58% 88.89% 91.57% 112.53% 98.00% 99.38% 98.15% 71.86% 87.21% 78.28% 72.27%
Augmented Payout Ratio
84.58% 88.89% 91.57% 112.53% 98.08% 99.58% 98.35% 72.01% 87.32% 78.28% 72.27%

Frequently Asked Questions About AvalonBay Communities' Financials

When does AvalonBay Communities's fiscal year end?

According to the most recent income statement we have on file, AvalonBay Communities' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has AvalonBay Communities' net income changed over the last 9 years?

AvalonBay Communities' net income appears to be on an upward trend, with a most recent value of $1.08 billion in 2024, rising from $741.73 million in 2015. The previous period was $928.44 million in 2023. See where experts think AvalonBay Communities is headed by visiting AvalonBay Communities' forecast page.

What is AvalonBay Communities's operating income?
AvalonBay Communities's total operating income in 2024 was $906.49 million, based on the following breakdown:
  • Total Gross Profit: $2.16 billion
  • Total Operating Expenses: $1.25 billion
How has AvalonBay Communities revenue changed over the last 9 years?

Over the last 9 years, AvalonBay Communities' total revenue changed from $1.86 billion in 2015 to $2.91 billion in 2024, a change of 56.6%.

How much debt does AvalonBay Communities have?

AvalonBay Communities' total liabilities were at $9.06 billion at the end of 2024, a 1.9% increase from 2023, and a 27.9% increase since 2015.

How much cash does AvalonBay Communities have?

In the past 9 years, AvalonBay Communities' cash and equivalents has ranged from $39.69 million in 2019 to $613.19 million in 2022, and is currently $108.58 million as of their latest financial filing in 2024.

How has AvalonBay Communities' book value per share changed over the last 9 years?

Over the last 9 years, AvalonBay Communities' book value per share changed from 71.89 in 2015 to 83.95 in 2024, a change of 16.8%.



This page (NYSE:AVB) was last updated on 5/28/2025 by MarketBeat.com Staff
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