Essex Property Trust (ESS) Financials

$287.98 -4.84 (-1.65%)

Closing price 03:59 PM Eastern

Extended Trading

$288.25 +0.27 (+0.09%)

As of 06:20 PM Eastern

Annual Income Statements for Essex Property Trust

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	227	411	433	390	439	569	489	408	406	742
Consolidated Net Income / (Loss)	248	438	458	414	464	599	516	433	431	811
Net Income / (Loss) Continuing Operations	242	438	371	414	464	599	532	416	431	601
Total Pre-Tax Income	242	438	371	412	464	601	532	416	431	601
Total Operating Income	331	421	473	512	481	491	530	595	584	703
Total Gross Profit	959	1,294	1,135	1,167	1,219	1,232	1,176	1,323	1,370	1,448
Total Revenue	1,194	1,294	1,364	1,400	1,460	1,496	1,441	1,607	1,669	1,774
Operating Revenue	1,194	1,294	1,364	1,400	1,460	1,496	1,441	1,607	1,669	1,774
Total Cost of Revenue	235	0.00	229	233	241	264	265	283	300	326
Operating Cost of Revenue	235	-	229	233	241	264	265	283	300	326
Total Operating Expenses	634	873	662	655	738	741	646	728	785	745
Selling, General & Admin Expense	40	41	41	53	54	65	52	57	63	99
Depreciation Expense	453	442	469	480	484	525	520	539	548	580
Other Operating Expenses / (Income)	129	389	176	184	192	146	217	225	232	242
Restructuring Charge	6.21	1.84	1.57	0.19	0.17	1.59	0.20	2.13	0.60	0.07
Other Special Charges / (Income)	-	-	-26	-62	-	-	-143	-94	-59	-176
Total Other Income / (Expense), net	-83	18	-102	-100	-17	108	2.45	-180	-154	-102
Interest Expense	211	220	223	220	214	244	104	224	167	155
Interest & Investment Income	47	88	121	121	167	77	122	34	14	51
Other Income / (Expense), net	81	150	0.00	0.00	30	274	-16	10	-0.70	0.93
Other Adjustments to Consolidated Net Income / (Loss)	-	0.00	87	1.25	-	-	-17	17	0.00	211
Net Income / (Loss) Attributable to Noncontrolling Interest	16	23	25	23	25	30	27	25	25	70
Basic Earnings per Share	$3.50	$6.28	$6.58	$5.91	$13.34	$8.69	$7.51	$6.27	$6.32	$11.55
Weighted Average Basic Shares Outstanding	64.87M	65.47M	65.83M	66.04M	65.84M	65.45M	65.05M	65.08M	64.25M	64.23M
Diluted Earnings per Share	$3.49	$6.27	$6.57	$5.90	$13.32	$8.69	$7.51	$6.27	$6.32	$11.54
Weighted Average Diluted Shares Outstanding	65.06M	65.59M	65.90M	66.09M	65.94M	65.56M	65.09M	65.10M	64.25M	64.25M
Weighted Average Basic & Diluted Shares Outstanding	64.87M	65.47M	65.83M	66.04M	65.84M	65.45M	65.28M	64.52M	64.20M	64.33M
Cash Dividends to Common per Share	$5.76	$6.40	$7.00	$7.44	$7.80	$8.31	$8.36	$8.80	$9.24	$9.80

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	93	185	154	100	87	65	273	93	118	257	203
Consolidated Net Income / (Loss)	99	194	162	106	93	70	285	99	125	302	213
Net Income / (Loss) Continuing Operations	81	194	162	106	93	70	147	99	94	261	213
Total Pre-Tax Income	81	194	162	106	93	70	147	99	94	261	213
Total Operating Income	129	228	187	135	132	130	132	137	129	304	257
Total Gross Profit	336	344	339	342	342	347	348	364	365	371	379
Total Revenue	410	415	412	416	419	422	427	442	451	454	465
Operating Revenue	410	415	412	416	419	422	427	442	451	454	465
Total Cost of Revenue	73	71	74	74	77	75	79	79	85	83	86
Operating Cost of Revenue	73	71	74	74	77	75	79	79	85	83	86
Total Operating Expenses	208	116	151	207	210	216	216	226	237	67	121
Selling, General & Admin Expense	15	16	15	14	15	20	17	21	29	32	16
Depreciation Expense	136	136	136	137	137	138	140	146	146	148	151
Other Operating Expenses / (Income)	57	56	58	57	58	59	59	59	61	62	65
Restructuring Charge	0.23	1.88	0.34	0.01	0.03	0.22	0.07	0.00	0.00	0.00	0.00
Other Special Charges / (Income)	0.00	-94	-59	0.00	0.00	-	0.00	0.00	0.00	-176	-111
Total Other Income / (Expense), net	-47	-34	-26	-29	-39	-60	14	-38	-35	-43	-44
Interest Expense	58	40	39	40	50	38	-1.34	50	48	59	58
Interest & Investment Income	13	3.47	12	13	11	-23	13	10	12	15	14
Other Income / (Expense), net	-1.76	2.37	0.90	-1.73	-0.40	0.54	-0.05	0.81	0.44	-0.27	0.16
Other Adjustments to Consolidated Net Income / (Loss)	17	-	0.00	0.00	0.00	-	138	0.00	32	41	-0.43
Net Income / (Loss) Attributable to Noncontrolling Interest	5.86	9.06	8.06	6.14	5.73	4.96	12	6.07	7.06	44	9.67
Basic Earnings per Share	$1.43	$2.85	$2.38	$1.55	$1.36	$1.03	$4.25	$1.45	$1.84	$4.01	$3.16
Weighted Average Basic Shares Outstanding	65.06M	65.08M	64.46M	64.18M	64.18M	64.25M	64.21M	64.21M	64.23M	64.23M	64.31M
Diluted Earnings per Share	$1.43	$2.85	$2.38	$1.55	$1.36	$1.03	$4.25	$1.45	$1.84	$4.00	$3.16
Weighted Average Diluted Shares Outstanding	65.07M	65.10M	64.46M	64.18M	64.19M	64.25M	64.21M	64.23M	64.27M	64.25M	64.35M
Weighted Average Basic & Diluted Shares Outstanding	64.75M	64.52M	64.18M	64.18M	64.18M	64.20M	64.21M	64.22M	64.27M	64.33M	64.39M
Cash Dividends to Common per Share	$2.20	-	$2.31	$2.31	$2.31	-	$2.45	$2.45	$2.45	-	$2.57

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.07	47	-109	90	-70	2.95	-25	-16	358	-324
Net Cash From Operating Activities	618	717	770	827	919	803	905	976	980	1,068
Net Cash From Continuing Operating Activities	618	717	770	827	919	803	905	976	980	1,068
Net Income / (Loss) Continuing Operations	248	438	458	414	464	599	516	433	431	811
Consolidated Net Income / (Loss)	248	438	458	414	464	599	516	433	431	811
Depreciation Expense	453	442	469	480	484	525	520	539	548	580
Amortization Expense	-32	-29	-21	-20	-23	-12	9.54	6.71	6.91	7.80
Non-Cash Adjustments To Reconcile Net Income	-45	-138	-120	-47	-45	-296	-173	-0.91	-4.34	-386
Changes in Operating Assets and Liabilities, net	-6.72	4.54	-17	0.17	39	-13	33	-2.46	-1.65	55
Net Cash From Investing Activities	-726	-413	-568	-60	-528	-417	-397	146	-145	-973
Net Cash From Continuing Investing Activities	-726	-413	-568	-60	-528	-417	-397	146	-145	-973
Purchase of Property, Plant & Equipment	-830	-456	-279	-97	-172	-659	-324	-213	-173	-1,080
Acquisitions	-	-184	-293	-162	-402	-114	-306	-163	-37	-34
Purchase of Investments	-142	-19	-68	-38	-339	-83	-24	-18	-21	-1.00
Sale of Property, Plant & Equipment	319	239	132	348	-	339	297	158	99	247
Sale and/or Maturity of Investments	41	107	198	115	613	185	171	247	104	68
Other Investing Activities, net	-113	-101	-258	-225	-228	-85	-211	135	-117	-173
Net Cash From Financing Activities	107	-256	-311	-676	-462	-383	-533	-1,138	-477	-420
Net Cash From Continuing Financing Activities	107	-256	-311	-676	-462	-383	-533	-1,138	-477	-420
Repayment of Debt	-1,197	-1,018	-1,491	-1,152	-2,912	-2,029	-1,781	-1,730	-1,199	-1,933
Repurchase of Common Equity	-8.03	-8.97	-9.65	-56	-68	-284	-22	-193	-97	-10
Payment of Dividends	-391	-439	-506	-515	-572	-570	-581	-608	-619	-708
Issuance of Debt	1,346	1,265	1,580	1,042	2,985	2,491	1,796	1,376	1,442	2,222
Issuance of Common Equity	332	-0.38	89	-0.92	73	-0.30	1.45	-0.19	-0.35	-0.30
Other Financing Activities, net	26	19	26	5.34	34	9.20	53	17	-3.83	9.10
Cash Interest Paid	197	216	226	223	-219	226	200	201	208	223

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	5.11	-11	34	-8.04	331	-0.16	108	-444	16	-4.42	32
Net Cash From Operating Activities	299	167	277	211	288	204	315	219	316	218	282
Net Cash From Continuing Operating Activities	299	167	277	211	288	204	315	219	316	218	282
Net Income / (Loss) Continuing Operations	99	194	162	106	93	70	285	99	125	302	213
Consolidated Net Income / (Loss)	99	194	162	106	93	70	285	99	125	302	213
Depreciation Expense	136	136	136	137	137	138	140	146	146	148	151
Amortization Expense	1.58	1.80	1.28	1.89	1.86	1.88	2.34	1.85	1.80	1.81	0.22
Non-Cash Adjustments To Reconcile Net Income	17	-110	-63	6.95	15	37	-147	-0.44	-26	-213	-110
Changes in Operating Assets and Liabilities, net	46	-55	40	-40	41	-43	35	-27	68	-21	27
Net Cash From Investing Activities	-171	215	55	-90	-68	-43	-397	-225	-221	-129	-267
Net Cash From Continuing Investing Activities	-171	215	55	-90	-68	-43	-397	-225	-221	-129	-267
Purchase of Property, Plant & Equipment	-76	-61	-21	-63	-40	-49	-383	-170	-240	-287	-381
Acquisitions	-63	-3.73	-7.97	-7.60	-17	-5.24	-2.07	-1.73	-1.17	-29	-3.93
Purchase of Investments	-0.59	-5.35	-11	-0.23	-0.25	-9.23	-0.16	-0.17	-0.09	-0.57	-6.31
Sale of Property, Plant & Equipment	-	158	99	-	-	-	0.00	-	-	247	126
Sale and/or Maturity of Investments	8.40	55	27	24	11	42	0.01	15	15	38	8.01
Other Investing Activities, net	-40	72	-31	-43	-22	-21	-12	-68	5.08	-98	-10
Net Cash From Financing Activities	-123	-393	-298	-130	111	-161	190	-438	-79	-93	18
Net Cash From Continuing Financing Activities	-123	-393	-298	-130	111	-161	190	-438	-79	-93	18
Repayment of Debt	-249	-531	-379	-668	-150	-0.78	-0.76	-818	-628	-485	-760
Repurchase of Common Equity	-98	-34	-96	-0.19	-1.32	-0.06	-2.69	-0.31	-6.04	-1.05	-3.06
Payment of Dividends	-160	-151	-150	-157	-156	-156	-157	-166	-167	-219	-174
Issuance of Debt	383	323	328	701	413	0.03	349	547	712	615	949
Issuance of Common Equity	-0.11	-	-0.07	-0.05	-0.11	-0.12	-0.01	-0.11	-0.47	0.28	0.00
Other Financing Activities, net	0.16	0.12	0.00	-6.01	6.01	-3.83	0.96	-	11	-3.22	5.51
Cash Interest Paid	52	51	53	49	58	48	58	50	56	59	61

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	12,008	12,217	12,496	12,384	12,705	12,936	12,998	12,373	12,361	12,927
Total Current Assets	322	399	391	472	401	474	656	226	654	379
Cash & Equivalents	30	65	45	134	70	74	48	33	392	67
Restricted Cash	93	105	17	17	11	10	10	9.39	8.59	9.05
Note & Lease Receivable	19	41	101	72	134	195	341	103	175	207
Prepaid Expenses	42	48	39	39	41	47	65	81	79	97
Plant, Property, & Equipment, net	11,687	11,818	12,104	11,911	12,230	12,390	12,272	11,966	11,556	12,427
Plant, Property & Equipment, gross	13,637	14,130	14,874	15,121	15,920	16,524	16,919	17,119	17,221	18,577
Accumulated Depreciation	1,950	2,312	2,769	3,210	3,689	4,134	4,647	5,152	5,665	6,151
Total Noncurrent Assets	0.00	191	356	0.00	75	72	69	180	152	121
Long-Term Investments	-	-	-	-	-	-	-	113	88	70
Noncurrent Note & Lease Receivables	-	-	-	0.00	75	-	69	67	64	52
Total Liabilities & Shareholders' Equity	12,008	12,217	12,496	12,384	12,705	12,936	12,998	12,373	12,361	12,927
Total Liabilities	5,626	5,880	6,060	5,954	6,264	6,721	6,787	6,451	6,735	7,176
Total Current Liabilities	288	409	516	315	397	356	730	432	418	610
Short-Term Debt	15	125	179	0.00	55	0.00	341	52	0.00	138
Accounts Payable	172	174	179	186	207	184	210	189	197	227
Dividends Payable	100	110	121	129	135	142	143	149	156	165
Other Current Liabilities	-	0.00	37	-	-	-	36	43	65	79
Total Noncurrent Liabilities	5,338	5,471	5,543	5,639	5,867	6,365	6,057	6,018	6,317	6,566
Long-Term Debt	5,304	5,438	5,510	5,606	5,754	6,252	5,946	5,906	6,206	6,464
Capital Lease Obligations	-	-	-	0.00	77	74	71	69	65	52
Other Noncurrent Operating Liabilities	35	33	33	33	37	39	40	43	46	50
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	45	45	39	35	37	32	35	27	32	31
Total Equity & Noncontrolling Interests	6,337	6,292	6,397	6,394	6,404	6,183	6,177	5,895	5,594	5,720
Total Preferred & Common Equity	6,238	6,192	6,277	6,267	6,220	6,000	5,994	5,716	5,423	5,537
Total Common Equity	6,164	6,192	6,277	6,267	6,220	6,000	5,994	5,716	5,423	5,537
Common Stock	7,003	7,030	7,130	7,093	7,122	6,876	6,916	6,750	6,657	6,668
Accumulated Other Comprehensive Income / (Loss)	-42	-32	-18	-13	-14	-15	-5.55	46	34	25
Other Equity Adjustments	-	-	-	-	-	-	-917	-	-1,268	-1,156
Noncontrolling Interest	99	100	119	127	183	183	183	179	171	183

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	12,624	12,373	12,280	12,245	12,498	12,361	12,885	12,509	12,647	12,927	13,186
Total Current Assets	465	226	136	303	641	654	774	383	359	379	336
Cash & Equivalents	43	33	68	61	392	392	499	55	71	67	99
Restricted Cash	11	9.39	-	8.17	8.50	8.59	8.83	8.93	8.98	9.05	9.13
Note & Lease Receivable	198	103	-	150	165	175	183	234	200	207	134
Prepaid Expenses	72	81	69	83	76	79	83	86	78	97	94
Plant, Property, & Equipment, net	12,093	11,966	10,687	11,775	11,702	11,556	11,957	11,988	12,161	12,427	12,721
Plant, Property & Equipment, gross	17,141	17,119	15,942	17,166	17,230	17,221	17,761	17,935	18,165	18,577	18,893
Accumulated Depreciation	5,048	5,152	5,255	5,391	5,528	5,665	5,804	5,946	6,004	6,151	6,172
Total Noncurrent Assets	67	180	1,456	168	155	152	154	138	128	121	129
Long-Term Investments	-	113	1,238	102	90	88	91	84	75	70	76
Noncurrent Note & Lease Receivables	67	67	121	66	65	64	63	53	52	52	53
Total Liabilities & Shareholders' Equity	12,624	12,373	12,280	12,245	12,498	12,361	12,885	12,509	12,647	12,927	13,186
Total Liabilities	6,714	6,451	6,453	6,452	6,761	6,735	7,129	6,821	6,985	7,176	7,406
Total Current Liabilities	656	432	208	433	444	418	464	564	524	610	512
Short-Term Debt	219	52	-	34	0.00	0.00	-	129	7.89	138	0.00
Accounts Payable	248	189	208	195	238	197	235	201	270	227	253
Accrued Expenses	-	-	-	-	-	-	-	-	1.21	-	0.64
Dividends Payable	150	149	-	156	156	156	165	165	166	165	174
Other Current Liabilities	38	43	-	48	51	65	64	68	80	79	84
Total Noncurrent Liabilities	6,058	6,018	6,245	6,019	6,317	6,317	6,665	6,257	6,461	6,566	6,894
Long-Term Debt	5,948	5,906	5,907	5,907	6,205	6,206	6,553	6,153	6,358	6,464	6,790
Capital Lease Obligations	68	69	-	67	66	65	64	55	54	52	54
Other Noncurrent Operating Liabilities	43	43	337	44	46	46	48	49	49	50	50
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	29	27	30	31	30	32	32	34	34	31	34
Total Equity & Noncontrolling Interests	5,881	5,895	5,797	5,762	5,706	5,594	5,724	5,655	5,628	5,720	5,746
Total Preferred & Common Equity	5,703	5,716	5,619	5,585	5,532	5,423	5,548	5,482	5,434	5,537	5,570
Total Common Equity	5,703	5,716	5,619	5,585	5,532	5,423	5,548	5,482	5,434	5,537	5,570
Common Stock	6,776	6,750	6,657	6,657	6,661	6,657	6,659	6,659	6,671	6,668	6,672
Accumulated Other Comprehensive Income / (Loss)	51	46	37	51	55	34	41	39	18	25	16
Other Equity Adjustments	-1,123	-	-1,075	-	-	-1,268	-	-	-	-1,156	-1,118
Noncontrolling Interest	178	179	178	177	175	171	176	173	195	183	176

This table displays calculated financial ratios and metrics derived from Essex Property Trust's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.02%	8.34%	5.40%	2.65%	4.29%	2.44%	-3.69%	11.54%	3.89%	6.29%
EBITDA Growth	42.81%	17.86%	-6.35%	5.53%	0.05%	31.53%	-18.36%	10.30%	-1.09%	13.44%
EBIT Growth	66.64%	38.41%	-17.17%	8.26%	-0.16%	49.77%	-32.82%	17.72%	-3.60%	20.63%
NOPAT Growth	64.34%	27.06%	12.39%	8.26%	-6.03%	2.15%	7.85%	12.31%	-1.83%	20.32%
Net Income Growth	84.65%	76.61%	4.48%	-9.70%	12.29%	29.04%	-13.96%	-16.04%	-0.53%	88.37%
EPS Growth	69.42%	79.66%	4.78%	-10.20%	125.76%	-34.76%	-13.58%	-16.51%	0.80%	82.59%
Operating Cash Flow Growth	25.31%	15.95%	7.37%	7.40%	11.19%	-12.62%	12.72%	7.78%	0.45%	9.00%
Free Cash Flow Firm Growth	98.42%	375.97%	-31.64%	295.04%	-93.28%	485.06%	87.43%	114.67%	-13.61%	-116.36%
Invested Capital Growth	3.83%	1.39%	2.52%	-1.61%	3.68%	1.75%	0.09%	-4.17%	-3.17%	7.44%
Revenue Q/Q Growth	2.71%	1.43%	1.19%	0.58%	1.54%	-0.88%	0.67%	2.79%	0.39%	1.88%
EBITDA Q/Q Growth	15.24%	19.33%	4.76%	1.29%	-0.42%	27.41%	-24.19%	20.31%	-7.87%	16.57%
EBIT Q/Q Growth	30.24%	40.12%	7.57%	2.04%	-0.42%	54.25%	-40.34%	45.92%	-14.58%	32.66%
NOPAT Q/Q Growth	9.50%	3.27%	7.57%	2.04%	-6.28%	-0.98%	-1.97%	27.09%	-14.34%	32.93%
Net Income Q/Q Growth	19.76%	37.15%	-17.16%	3.71%	2.37%	-5.30%	8.98%	13.08%	-22.34%	39.89%
EPS Q/Q Growth	21.18%	39.02%	-17.77%	3.87%	104.92%	-44.93%	8.53%	13.59%	-22.36%	34.66%
Operating Cash Flow Q/Q Growth	-0.79%	0.85%	1.28%	-0.08%	7.83%	-7.22%	6.56%	-3.79%	3.90%	1.39%
Free Cash Flow Firm Q/Q Growth	-182.12%	-37.54%	109.78%	24.80%	209.35%	-42.47%	-29.74%	88.29%	-13.25%	-243.86%
Invested Capital Q/Q Growth	-0.24%	1.23%	0.69%	-0.40%	-1.37%	0.24%	1.95%	-1.30%	-0.92%	2.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.33%	100.00%	83.20%	83.37%	83.47%	82.38%	81.61%	82.37%	82.05%	81.62%
EBITDA Margin	69.84%	75.98%	67.51%	69.40%	66.58%	85.49%	72.47%	71.66%	68.23%	72.81%
Operating Margin	27.73%	32.52%	34.68%	36.57%	32.95%	32.86%	36.79%	37.04%	35.00%	39.62%
EBIT Margin	34.54%	44.12%	34.68%	36.57%	35.01%	51.19%	35.70%	37.68%	34.96%	39.68%
Profit (Net Income) Margin	20.78%	33.88%	33.58%	29.54%	31.81%	40.07%	35.80%	26.95%	25.80%	45.72%
Tax Burden Percent	102.53%	100.00%	123.44%	100.30%	100.00%	99.75%	96.85%	104.19%	100.00%	135.05%
Interest Burden Percent	58.69%	76.79%	78.46%	80.54%	90.86%	78.48%	103.52%	68.64%	73.80%	85.33%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.92%	3.62%	3.99%	4.30%	4.00%	3.98%	4.25%	4.88%	4.97%	5.86%
ROIC Less NNEP Spread (ROIC-NNEP)	1.28%	3.96%	3.72%	2.50%	3.70%	5.77%	4.03%	2.23%	2.40%	7.58%
Return on Net Nonoperating Assets (RNNOA)	1.04%	3.27%	3.18%	2.13%	3.21%	5.49%	4.05%	2.26%	2.49%	8.40%
Return on Equity (ROE)	3.96%	6.89%	7.17%	6.43%	7.22%	9.47%	8.30%	7.14%	7.46%	14.26%
Cash Return on Invested Capital (CROIC)	-0.83%	2.25%	1.51%	5.92%	0.39%	2.24%	4.17%	9.13%	8.19%	-1.31%
Operating Return on Assets (OROA)	3.51%	4.71%	3.83%	4.12%	4.08%	5.97%	3.97%	4.77%	4.72%	5.57%
Return on Assets (ROA)	2.11%	3.62%	3.71%	3.32%	3.70%	4.67%	3.98%	3.41%	3.48%	6.42%
Return on Common Equity (ROCE)	3.82%	6.70%	7.00%	6.27%	7.00%	9.15%	8.01%	6.89%	7.19%	13.74%
Return on Equity Simple (ROE_SIMPLE)	3.98%	7.08%	7.30%	6.60%	7.47%	9.99%	8.60%	7.57%	7.94%	14.65%
Net Operating Profit after Tax (NOPAT)	331	421	473	512	481	491	530	595	584	703
NOPAT Margin	27.73%	32.52%	34.68%	36.57%	32.95%	32.86%	36.79%	37.04%	35.00%	39.62%
Net Nonoperating Expense Percent (NNEP)	1.64%	-0.33%	0.27%	1.80%	0.30%	-1.79%	0.23%	2.64%	2.57%	-1.72%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.99%	4.93%	5.68%
Cost of Revenue to Revenue	19.67%	0.00%	16.80%	16.63%	16.53%	17.62%	18.39%	17.63%	17.95%	18.38%
SG&A Expenses to Revenue	3.36%	3.15%	3.03%	3.82%	3.72%	4.37%	3.60%	3.52%	3.80%	5.57%
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	53.11%	67.48%	48.53%	46.80%	50.52%	49.52%	44.82%	45.32%	47.05%	42.00%
Earnings before Interest and Taxes (EBIT)	413	571	473	512	511	766	514	605	584	704
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	834	983	921	972	972	1,279	1,044	1,151	1,139	1,292
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.95	1.93	2.05	2.15	2.73	2.28	3.48	2.22	2.83	3.28
Price to Tangible Book Value (P/TBV)	1.95	1.93	2.05	2.15	2.73	2.28	3.48	2.22	2.83	3.28
Price to Revenue (P/Rev)	10.07	9.21	9.41	9.62	11.61	9.16	14.47	7.90	9.19	10.25
Price to Earnings (P/E)	53.02	29.00	29.65	34.51	38.60	24.09	42.68	31.09	37.81	24.53
Dividend Yield	3.16%	3.52%	3.60%	3.65%	3.04%	3.95%	2.61%	4.49%	3.86%	3.41%
Earnings Yield	1.89%	3.45%	3.37%	2.90%	2.59%	4.15%	2.34%	3.22%	2.64%	4.08%
Enterprise Value to Invested Capital (EV/IC)	1.50	1.48	1.54	1.60	1.87	1.61	2.18	1.57	1.84	2.00
Enterprise Value to Revenue (EV/Rev)	14.49	13.39	13.52	13.48	15.64	13.38	18.86	11.68	12.78	14.04
Enterprise Value to EBITDA (EV/EBITDA)	20.75	17.62	20.02	19.42	23.49	15.65	26.03	16.30	18.73	19.28
Enterprise Value to EBIT (EV/EBIT)	41.95	30.34	38.98	36.86	44.68	26.14	52.84	31.00	36.55	35.38
Enterprise Value to NOPAT (EV/NOPAT)	52.25	41.17	38.98	36.86	47.47	40.73	51.27	31.53	36.51	35.43
Enterprise Value to Operating Cash Flow (EV/OCF)	27.99	24.17	23.95	22.83	24.85	24.92	30.02	19.24	21.77	23.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	66.40	103.36	26.78	482.46	72.27	52.35	16.84	22.16	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.88	0.88	0.87	0.91	1.02	1.02	1.02	1.11	1.16
Long-Term Debt to Equity	0.83	0.86	0.86	0.87	0.91	1.02	0.97	1.01	1.11	1.13
Financial Leverage	0.81	0.83	0.86	0.85	0.87	0.95	1.00	1.01	1.04	1.11
Leverage Ratio	1.88	1.90	1.93	1.93	1.95	2.03	2.09	2.09	2.14	2.22
Compound Leverage Factor	1.10	1.46	1.52	1.56	1.77	1.59	2.16	1.44	1.58	1.90
Debt to Total Capital	45.45%	46.75%	46.92%	46.58%	47.75%	50.44%	50.58%	50.44%	52.71%	53.64%
Short-Term Debt to Total Capital	0.13%	1.05%	1.48%	0.00%	0.45%	0.00%	2.72%	0.44%	0.00%	1.11%
Long-Term Debt to Total Capital	45.33%	45.70%	45.44%	46.58%	47.30%	50.44%	47.87%	50.00%	52.71%	52.53%
Preferred Equity to Total Capital	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.24%	1.22%	1.31%	1.35%	1.79%	1.71%	1.73%	1.72%	1.71%	1.73%
Common Equity to Total Capital	52.68%	52.03%	51.77%	52.07%	50.46%	47.85%	47.68%	47.84%	45.58%	44.63%
Debt to EBITDA	6.38	5.66	6.18	5.77	6.05	4.95	6.09	5.23	5.51	5.15
Net Debt to EBITDA	6.06	5.34	5.91	5.40	5.82	4.77	5.85	5.10	5.08	5.04
Long-Term Debt to EBITDA	6.36	5.53	5.98	5.77	6.00	4.95	5.76	5.19	5.51	5.04
Debt to NOPAT	16.06	13.22	12.03	10.95	12.23	12.87	12.00	10.13	10.73	9.46
Net Debt to NOPAT	15.27	12.49	11.50	10.24	11.77	12.40	11.52	9.86	9.90	9.26
Long-Term Debt to NOPAT	16.02	12.92	11.65	10.95	12.12	12.87	11.35	10.04	10.73	9.27
Altman Z-Score	1.41	1.38	1.40	1.53	1.77	1.45	2.08	1.33	1.68	1.82
Noncontrolling Interest Sharing Ratio	3.42%	2.86%	2.38%	2.49%	2.97%	3.44%	3.48%	3.49%	3.54%	3.67%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	0.97	0.76	1.50	1.01	1.33	0.90	0.52	1.56	0.62
Quick Ratio	0.65	0.60	0.65	1.32	0.88	1.17	0.80	0.32	1.35	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-95	261	178	705	47	277	519	1,114	963	-157
Operating Cash Flow to CapEx	120.92%	331.11%	523.66%	0.00%	534.40%	250.88%	3,352.07%	1,780.67%	1,325.25%	128.34%
Free Cash Flow to Firm to Interest Expense	-0.45	1.18	0.80	3.20	0.22	1.14	4.97	4.98	5.78	-1.02
Operating Cash Flow to Interest Expense	2.93	3.25	3.45	3.75	4.30	3.30	8.67	4.36	5.88	6.91
Operating Cash Flow Less CapEx to Interest Expense	0.51	2.27	2.79	4.89	3.50	1.98	8.41	4.11	5.44	1.53
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.11	0.11	0.11	0.12	0.12	0.11	0.13	0.14	0.14
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	0.10	0.11	0.11	0.12	0.12	0.12	0.12	0.13	0.14	0.15
Accounts Payable Turnover	1.39	0.00	1.30	1.27	1.23	1.35	1.34	1.42	1.55	1.54
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)	262.87	0.00	281.55	286.72	297.44	270.84	271.58	256.67	234.88	237.37
Cash Conversion Cycle (CCC)	-262.87	0.00	-281.55	-286.72	-297.44	-270.84	-271.58	-256.67	-234.88	-237.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,541	11,701	11,995	11,803	12,237	12,451	12,462	11,943	11,565	12,425
Invested Capital Turnover	0.11	0.11	0.12	0.12	0.12	0.12	0.12	0.13	0.14	0.15
Increase / (Decrease) in Invested Capital	426	160	295	-193	434	214	11	-519	-378	861
Enterprise Value (EV)	17,305	17,323	18,435	18,871	22,839	20,014	27,175	18,770	21,332	24,910
Market Capitalization	12,029	11,924	12,838	13,464	16,958	13,705	20,850	12,693	15,346	18,187
Book Value per Share	$93.34	$94.51	$95.06	$94.86	$94.13	$92.02	$92.08	$88.28	$84.49	$86.16
Tangible Book Value per Share	$93.34	$94.51	$95.06	$94.86	$94.13	$92.02	$92.08	$88.28	$84.49	$86.16
Total Capital	11,701	11,900	12,125	12,035	12,327	12,541	12,569	11,949	11,897	12,405
Total Debt	5,319	5,563	5,689	5,606	5,886	6,326	6,358	6,027	6,271	6,654
Total Long-Term Debt	5,304	5,438	5,510	5,606	5,831	6,326	6,017	5,975	6,271	6,516
Net Debt	5,058	5,254	5,438	5,245	5,660	6,094	6,108	5,871	5,783	6,508
Capital Expenditures (CapEx)	511	216	147	-251	172	320	27	55	74	832
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-212	-195	-197	-204	-167	-114	17	-197	-164	-168
Debt-free Net Working Capital (DFNWC)	49	115	54	157	58	118	268	-154	236	-92
Net Working Capital (NWC)	34	-10	-125	157	3.27	118	-73	-206	236	-230
Net Nonoperating Expense (NNE)	83	-18	15	98	17	-108	14	162	154	-108
Net Nonoperating Obligations (NNO)	5,158	5,364	5,559	5,374	5,796	6,236	6,251	6,021	5,938	6,674
Total Depreciation and Amortization (D&A)	422	412	448	460	461	513	530	546	555	588
Debt-free, Cash-free Net Working Capital to Revenue	-17.72%	-15.06%	-14.47%	-14.54%	-11.44%	-7.59%	1.20%	-12.23%	-9.85%	-9.48%
Debt-free Net Working Capital to Revenue	4.10%	8.86%	3.94%	11.24%	3.99%	7.90%	18.59%	-9.57%	14.13%	-5.21%
Net Working Capital to Revenue	2.84%	-0.80%	-9.18%	11.24%	0.22%	7.90%	-5.10%	-12.81%	14.13%	-12.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.50	$6.28	$6.58	$5.91	$6.67	$8.69	$7.51	$6.27	$6.32	$11.55
Adjusted Weighted Average Basic Shares Outstanding	64.87M	65.47M	65.83M	66.04M	65.84M	65.45M	65.05M	65.08M	64.25M	64.23M
Adjusted Diluted Earnings per Share	$3.49	$6.27	$6.57	$5.90	$6.66	$8.69	$7.51	$6.27	$6.32	$11.54
Adjusted Weighted Average Diluted Shares Outstanding	65.06M	65.59M	65.90M	66.09M	65.94M	65.56M	65.09M	65.10M	64.25M	64.25M
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	65.41M	65.55M	66.04M	65.69M	66.17M	64.99M	65.28M	64.52M	64.20M	64.33M
Normalized Net Operating Profit after Tax (NOPAT)	236	296	314	315	342	346	271	352	368	369
Normalized NOPAT Margin	19.77%	22.86%	23.00%	22.52%	23.41%	23.16%	18.82%	21.91%	22.04%	20.81%
Pre Tax Income Margin	20.27%	33.88%	27.21%	29.45%	31.81%	40.17%	36.96%	25.86%	25.80%	33.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.96	2.59	2.12	2.32	2.39	3.14	4.93	2.70	3.50	4.55
NOPAT to Interest Expense	1.57	1.91	2.12	2.32	2.25	2.02	5.08	2.66	3.51	4.55
EBIT Less CapEx to Interest Expense	-0.47	1.61	1.46	3.46	1.59	1.83	4.67	2.46	3.06	-0.83
NOPAT Less CapEx to Interest Expense	-0.85	0.93	1.46	3.46	1.45	0.70	4.82	2.41	3.06	-0.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	157.48%	100.13%	110.42%	124.41%	123.22%	95.14%	112.61%	140.45%	143.76%	87.29%
Augmented Payout Ratio	160.72%	102.18%	112.52%	137.86%	137.86%	142.52%	116.87%	184.99%	166.38%	88.53%

This table displays calculated financial ratios and metrics derived from Essex Property Trust's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.92%	11.73%	7.99%	4.02%	2.30%	1.58%	3.52%	6.32%	7.52%	7.76%	8.82%
EBITDA Growth	-5.45%	111.90%	31.52%	0.01%	2.52%	-26.43%	-15.81%	5.16%	2.54%	67.84%	48.97%
EBIT Growth	-13.66%	476.74%	67.21%	-1.77%	3.57%	-43.22%	-29.73%	3.88%	-1.64%	132.44%	94.43%
NOPAT Growth	-6.79%	125.30%	70.58%	4.82%	2.47%	-42.87%	-29.37%	1.94%	-2.27%	133.61%	94.23%
Net Income Growth	-21.04%	34.76%	106.18%	71.43%	-5.77%	-63.78%	76.45%	-6.40%	34.92%	328.85%	-25.38%
EPS Growth	-21.43%	35.71%	112.50%	78.16%	-4.90%	-63.86%	78.57%	-6.45%	35.29%	288.35%	-25.65%
Operating Cash Flow Growth	10.07%	-18.73%	-12.13%	8.75%	-3.72%	22.02%	13.70%	3.56%	9.77%	7.19%	-10.59%
Free Cash Flow Firm Growth	-25.01%	726.91%	750.86%	20.13%	121.87%	-31.93%	-171.63%	-128.57%	-151.98%	-209.32%	69.67%
Invested Capital Growth	-1.01%	-4.17%	-14.28%	-2.32%	-3.53%	-3.17%	14.49%	2.17%	3.59%	7.44%	5.65%
Revenue Q/Q Growth	2.44%	1.33%	-0.67%	0.88%	0.75%	0.61%	1.23%	3.61%	1.89%	0.84%	2.23%
EBITDA Q/Q Growth	-2.84%	39.45%	-11.45%	-16.63%	-0.41%	0.07%	1.33%	4.13%	-2.89%	63.79%	-10.06%
EBIT Q/Q Growth	-6.38%	81.72%	-18.32%	-29.31%	-1.29%	-0.38%	1.09%	4.49%	-6.53%	135.41%	-15.44%
NOPAT Q/Q Growth	-0.02%	77.39%	-17.87%	-28.05%	-2.26%	-1.10%	1.55%	3.85%	-6.30%	136.43%	-15.57%
Net Income Q/Q Growth	59.99%	96.78%	-16.80%	-34.55%	-12.05%	-24.36%	305.32%	-65.29%	26.77%	140.42%	-29.47%
EPS Q/Q Growth	64.37%	99.30%	-16.49%	-34.87%	-12.26%	-24.26%	312.62%	-65.88%	26.90%	117.39%	-21.00%
Operating Cash Flow Q/Q Growth	53.90%	-44.21%	65.91%	-23.66%	36.26%	-29.30%	54.59%	-30.47%	44.43%	-30.95%	28.94%
Free Cash Flow Firm Q/Q Growth	-26.98%	196.45%	157.47%	-78.45%	34.86%	-9.05%	-370.96%	91.40%	-145.36%	-91.29%	24.83%
Invested Capital Q/Q Growth	0.28%	-1.30%	-12.68%	13.02%	-0.97%	-0.92%	3.24%	0.87%	0.41%	2.76%	1.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.07%	82.83%	82.09%	82.25%	81.63%	82.23%	81.51%	82.20%	81.07%	81.70%	81.48%
EBITDA Margin	64.42%	88.65%	79.02%	65.31%	64.55%	64.20%	64.27%	64.59%	61.56%	100.00%	87.98%
Operating Margin	31.39%	54.95%	45.44%	32.41%	31.44%	30.90%	31.00%	31.07%	28.58%	67.00%	55.34%
EBIT Margin	30.96%	55.52%	45.65%	31.99%	31.34%	31.03%	30.99%	31.25%	28.67%	66.94%	55.37%
Profit (Net Income) Margin	24.09%	46.78%	39.18%	25.42%	22.19%	16.68%	66.79%	22.38%	27.84%	66.38%	45.80%
Tax Burden Percent	121.43%	100.00%	100.00%	100.00%	100.00%	100.00%	194.22%	100.00%	133.63%	115.57%	99.80%
Interest Burden Percent	64.07%	84.25%	85.82%	79.46%	70.79%	53.75%	110.96%	71.60%	72.66%	85.81%	82.88%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.03%	7.24%	6.59%	4.49%	4.40%	4.39%	4.67%	4.46%	4.19%	9.91%	8.17%
ROIC Less NNEP Spread (ROIC-NNEP)	3.55%	6.68%	6.10%	4.01%	3.76%	3.39%	7.50%	3.84%	4.14%	9.87%	7.49%
Return on Net Nonoperating Assets (RNNOA)	3.60%	6.76%	5.38%	4.07%	3.91%	3.51%	6.98%	4.13%	4.49%	10.94%	8.45%
Return on Equity (ROE)	7.63%	13.99%	11.96%	8.57%	8.31%	7.90%	11.65%	8.59%	8.67%	20.85%	16.62%
Cash Return on Invested Capital (CROIC)	4.87%	9.13%	21.33%	8.04%	9.34%	8.19%	-8.77%	2.32%	0.92%	-1.31%	1.24%
Operating Return on Assets (OROA)	3.81%	7.03%	5.97%	4.27%	4.15%	4.19%	4.15%	4.32%	3.97%	9.39%	7.70%
Return on Assets (ROA)	2.96%	5.93%	5.12%	3.39%	2.94%	2.25%	8.94%	3.09%	3.86%	9.32%	6.37%
Return on Common Equity (ROCE)	7.36%	13.51%	11.54%	8.26%	8.02%	7.62%	11.23%	8.28%	8.35%	20.08%	16.01%
Return on Equity Simple (ROE_SIMPLE)	6.71%	0.00%	9.19%	10.03%	10.03%	0.00%	9.99%	9.99%	10.67%	0.00%	13.27%
Net Operating Profit after Tax (NOPAT)	129	228	187	135	132	130	132	137	129	304	257
NOPAT Margin	31.39%	54.95%	45.44%	32.41%	31.44%	30.90%	31.00%	31.07%	28.58%	67.00%	55.34%
Net Nonoperating Expense Percent (NNEP)	0.49%	0.55%	0.49%	0.48%	0.64%	1.00%	-2.83%	0.62%	0.05%	0.04%	0.68%
Return On Investment Capital (ROIC_SIMPLE)	-	1.91%	-	-	-	1.10%	-	-	-	2.46%	2.04%
Cost of Revenue to Revenue	17.93%	17.17%	17.91%	17.75%	18.37%	17.77%	18.49%	17.80%	18.93%	18.30%	18.52%
SG&A Expenses to Revenue	3.70%	3.86%	3.71%	3.32%	3.49%	4.68%	4.02%	4.78%	6.45%	6.94%	3.51%
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	50.69%	27.88%	36.65%	49.84%	50.19%	51.33%	50.51%	51.13%	52.50%	14.70%	26.15%
Earnings before Interest and Taxes (EBIT)	127	231	188	133	131	131	132	138	129	304	257
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	264	368	326	272	271	271	274	286	277	454	409
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.58	2.22	2.29	2.59	2.37	2.83	2.81	3.19	3.49	3.28	3.54
Price to Tangible Book Value (P/TBV)	2.58	2.22	2.29	2.59	2.37	2.83	2.81	3.19	3.49	3.28	3.54
Price to Revenue (P/Rev)	9.40	7.90	7.84	8.74	7.89	9.19	9.25	10.22	10.89	10.25	10.88
Price to Earnings (P/E)	40.80	31.09	26.28	27.21	24.96	37.81	29.66	33.72	34.53	24.53	29.35
Dividend Yield	3.85%	4.49%	4.48%	4.01%	4.47%	3.86%	3.87%	3.50%	3.27%	3.41%	3.24%
Earnings Yield	2.45%	3.22%	3.81%	3.67%	4.01%	2.64%	3.37%	2.97%	2.90%	4.08%	3.41%
Enterprise Value to Invested Capital (EV/IC)	1.73	1.57	1.69	1.74	1.64	1.84	1.83	1.98	2.11	2.00	2.11
Enterprise Value to Revenue (EV/Rev)	13.39	11.68	10.78	12.40	11.49	12.78	12.95	13.96	14.62	14.04	14.67
Enterprise Value to EBITDA (EV/EBITDA)	21.87	16.30	14.35	16.67	15.45	18.73	20.04	21.67	22.97	19.28	18.64
Enterprise Value to EBIT (EV/EBIT)	50.46	31.00	25.91	30.20	27.96	36.55	41.31	44.81	47.98	35.38	32.08
Enterprise Value to NOPAT (EV/NOPAT)	44.70	31.53	26.23	30.19	28.01	36.51	41.18	44.88	48.14	35.43	32.12
Enterprise Value to Operating Cash Flow (EV/OCF)	20.64	19.24	18.83	21.48	20.25	21.77	21.41	23.28	24.17	23.32	25.69
Enterprise Value to Free Cash Flow (EV/FCFF)	35.38	16.84	7.33	21.38	17.22	22.16	0.00	86.50	232.64	0.00	174.09
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.05	1.02	1.01	1.04	1.09	1.11	1.15	1.11	1.13	1.16	1.18
Long-Term Debt to Equity	1.02	1.01	1.01	1.03	1.09	1.11	1.15	1.09	1.13	1.13	1.18
Financial Leverage	1.01	1.01	0.88	1.02	1.04	1.04	0.93	1.08	1.08	1.11	1.13
Leverage Ratio	2.10	2.09	2.09	2.10	2.16	2.14	2.17	2.16	2.21	2.22	2.26
Compound Leverage Factor	1.35	1.76	1.79	1.67	1.53	1.15	2.41	1.54	1.60	1.91	1.87
Debt to Total Capital	51.34%	50.44%	50.34%	50.91%	52.23%	52.71%	53.48%	52.70%	53.13%	53.64%	54.22%
Short-Term Debt to Total Capital	1.81%	0.44%	0.00%	0.29%	0.00%	0.00%	0.00%	1.08%	0.07%	1.11%	0.00%
Long-Term Debt to Total Capital	49.53%	50.00%	50.34%	50.62%	52.23%	52.71%	53.48%	51.62%	53.07%	52.53%	54.22%
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	1.70%	1.72%	1.78%	1.76%	1.71%	1.71%	1.68%	1.72%	1.89%	1.73%	1.66%
Common Equity to Total Capital	46.96%	47.84%	47.88%	47.32%	46.07%	45.58%	44.84%	45.58%	44.98%	44.63%	44.12%
Debt to EBITDA	6.51	5.23	4.80	4.89	5.07	5.51	6.08	5.75	5.79	5.15	4.80
Net Debt to EBITDA	6.31	5.10	3.74	4.75	4.68	5.08	5.53	5.62	5.65	5.04	4.67
Long-Term Debt to EBITDA	6.29	5.19	4.80	4.86	5.07	5.51	6.08	5.64	5.78	5.04	4.80
Debt to NOPAT	13.31	10.13	8.78	8.85	9.19	10.73	12.50	11.91	12.14	9.46	8.27
Net Debt to NOPAT	12.90	9.86	6.84	8.60	8.47	9.90	11.37	11.63	11.84	9.26	8.05
Long-Term Debt to NOPAT	12.84	10.04	8.78	8.80	9.19	10.73	12.50	11.67	12.12	9.27	8.27
Altman Z-Score	1.45	1.23	1.37	1.37	1.22	1.56	1.38	1.56	1.65	1.71	1.78
Noncontrolling Interest Sharing Ratio	3.50%	3.49%	3.58%	3.55%	3.54%	3.54%	3.59%	3.61%	3.80%	3.67%	3.62%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.71	0.52	0.65	0.70	1.44	1.56	1.67	0.68	0.68	0.62	0.66
Quick Ratio	0.58	0.32	0.33	0.49	1.25	1.35	1.47	0.51	0.52	0.45	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	252	747	1,924	415	559	509	-1,378	-118	-291	-556	-418
Operating Cash Flow to CapEx	393.89%	0.00%	0.00%	333.60%	719.96%	416.72%	82.20%	128.85%	131.74%	553.34%	110.40%
Free Cash Flow to Firm to Interest Expense	4.31	18.79	49.85	10.26	11.24	13.42	0.00	-2.39	-6.08	-9.49	-7.15
Operating Cash Flow to Interest Expense	5.12	4.20	7.18	5.23	5.79	5.37	0.00	4.42	6.62	3.73	4.82
Operating Cash Flow Less CapEx to Interest Expense	3.82	6.63	9.20	3.66	4.99	4.08	0.00	0.99	1.59	3.05	0.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.13	0.13	0.13	0.13	0.14	0.13	0.14	0.14	0.14	0.14
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	0.13	0.13	0.14	0.14	0.14	0.14	0.15	0.14	0.15	0.15	0.15
Accounts Payable Turnover	1.11	1.42	1.24	1.47	1.22	1.55	1.38	1.56	1.25	1.54	1.36
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)	327.82	256.67	294.58	248.09	299.60	234.88	265.24	233.34	291.33	237.37	267.85
Cash Conversion Cycle (CCC)	-327.82	-256.67	-294.58	-248.09	-299.60	-234.88	-265.24	-233.34	-291.33	-237.37	-267.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,100	11,943	10,428	11,787	11,672	11,565	11,939	12,043	12,092	12,425	12,614
Invested Capital Turnover	0.13	0.13	0.14	0.14	0.14	0.14	0.15	0.14	0.15	0.15	0.15
Increase / (Decrease) in Invested Capital	-123	-519	-1,737	-280	-428	-378	1,511	256	419	861	675
Enterprise Value (EV)	20,936	18,770	17,650	20,500	19,104	21,332	21,798	23,873	25,464	24,910	26,591
Market Capitalization	14,689	12,693	12,840	14,454	13,120	15,346	15,572	17,478	18,971	18,187	19,720
Book Value per Share	$87.58	$88.28	$87.09	$87.02	$86.19	$84.49	$86.41	$85.37	$84.62	$86.16	$86.59
Tangible Book Value per Share	$87.58	$88.28	$87.09	$87.02	$86.19	$84.49	$86.41	$85.37	$84.62	$86.16	$86.59
Total Capital	12,145	11,949	11,734	11,802	12,007	11,897	12,373	12,026	12,082	12,405	12,624
Total Debt	6,235	6,027	5,907	6,009	6,271	6,271	6,617	6,337	6,419	6,654	6,844
Total Long-Term Debt	6,016	5,975	5,907	5,974	6,271	6,271	6,617	6,208	6,412	6,516	6,844
Net Debt	6,040	5,871	4,601	5,838	5,780	5,783	6,018	6,189	6,264	6,508	6,661
Capital Expenditures (CapEx)	76	-97	-78	63	40	49	383	170	240	39	255
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-166	-197	-140	-165	-204	-164	-198	-115	-238	-168	-284
Debt-free Net Working Capital (DFNWC)	29	-154	-72	-96	196	236	310	-51	-157	-92	-176
Net Working Capital (NWC)	-191	-206	-72	-130	196	236	310	-180	-165	-230	-176
Net Nonoperating Expense (NNE)	30	34	26	29	39	60	-153	38	3.30	2.80	44
Net Nonoperating Obligations (NNO)	6,189	6,021	4,601	5,993	5,936	5,938	6,183	6,354	6,430	6,674	6,834
Total Depreciation and Amortization (D&A)	137	138	138	139	139	140	142	147	148	150	152
Debt-free, Cash-free Net Working Capital to Revenue	-10.65%	-12.23%	-8.52%	-9.98%	-12.27%	-9.85%	-11.73%	-6.73%	-13.64%	-9.48%	-15.67%
Debt-free Net Working Capital to Revenue	1.85%	-9.57%	-4.39%	-5.80%	11.81%	14.13%	18.43%	-2.98%	-9.03%	-5.21%	-9.71%
Net Working Capital to Revenue	-12.20%	-12.81%	-4.39%	-7.89%	11.81%	14.13%	18.43%	-10.54%	-9.49%	-12.98%	-9.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.43	$2.85	$2.38	$1.55	$1.36	$1.03	$4.25	$1.45	$1.84	$4.01	$3.16
Adjusted Weighted Average Basic Shares Outstanding	65.06M	65.08M	64.46M	64.18M	64.18M	64.25M	64.21M	64.21M	64.23M	64.23M	64.31M
Adjusted Diluted Earnings per Share	$1.43	$2.85	$2.38	$1.55	$1.36	$1.03	$4.25	$1.45	$1.84	$4.00	$3.16
Adjusted Weighted Average Diluted Shares Outstanding	65.07M	65.10M	64.46M	64.18M	64.19M	64.25M	64.21M	64.23M	64.27M	64.25M	64.35M
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	64.75M	64.52M	64.18M	64.18M	64.18M	64.20M	64.21M	64.22M	64.27M	64.33M	64.39M
Normalized Net Operating Profit after Tax (NOPAT)	90	95	90	94	92	91	93	96	90	90	102
Normalized NOPAT Margin	22.01%	22.86%	21.81%	22.69%	22.01%	21.67%	21.71%	21.75%	20.00%	19.86%	22.01%
Pre Tax Income Margin	19.84%	46.78%	39.18%	25.42%	22.19%	16.68%	34.39%	22.38%	20.84%	57.44%	45.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.17	5.80	4.88	3.29	2.64	3.45	0.00	2.79	2.70	5.19	4.40
NOPAT to Interest Expense	2.20	5.74	4.86	3.34	2.65	3.44	0.00	2.77	2.70	5.20	4.40
EBIT Less CapEx to Interest Expense	0.87	8.23	6.91	1.73	1.84	2.16	0.00	-0.64	-2.32	4.52	0.04
NOPAT Less CapEx to Interest Expense	0.90	8.17	6.88	1.77	1.84	2.15	0.00	-0.65	-2.33	4.52	0.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	156.83%	140.45%	119.02%	110.19%	110.71%	143.76%	112.91%	115.99%	111.36%	87.29%	98.21%
Augmented Payout Ratio	198.27%	184.99%	174.94%	150.85%	134.44%	166.38%	113.68%	116.79%	112.93%	88.53%	99.62%

Frequently Asked Questions About Essex Property Trust's Financials

When does Essex Property Trust's financial year end?

According to the most recent income statement we have on file, Essex Property Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Essex Property Trust's net income changed over the last 9 years?

Essex Property Trust's net income appears to be on an upward trend, with a most recent value of $811.31 million in 2024, rising from $248.24 million in 2015. The previous period was $430.71 million in 2023. Check out Essex Property Trust's forecast to explore projected trends and price targets.

What is Essex Property Trust's operating income?

Essex Property Trust's total operating income in 2024 was $703.10 million, based on the following breakdown:

Total Gross Profit: $1.45 billion
Total Operating Expenses: $745.24 million

How has Essex Property Trust revenue changed over the last 9 years?

Over the last 9 years, Essex Property Trust's total revenue changed from $1.19 billion in 2015 to $1.77 billion in 2024, a change of 48.6%.

How much debt does Essex Property Trust have?

Essex Property Trust's total liabilities were at $7.18 billion at the end of 2024, a 6.5% increase from 2023, and a 27.6% increase since 2015.

How much cash does Essex Property Trust have?

In the past 9 years, Essex Property Trust's cash and equivalents has ranged from $29.68 million in 2015 to $391.75 million in 2023, and is currently $66.80 million as of their latest financial filing in 2024.

How has Essex Property Trust's book value per share changed over the last 9 years?

Over the last 9 years, Essex Property Trust's book value per share changed from 93.34 in 2015 to 86.16 in 2024, a change of -7.7%.

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

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Essex Property Trust (ESS) Financials

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Essex Property Trust (ESS) Financials

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