UDR (UDR) Financials

$39.50 -0.60 (-1.50%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$40.78 +1.29 (+3.26%)

As of 05/23/2025 05:45 PM Eastern

Annual Income Statements for UDR

This table shows UDR's 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	85	440	83	146	60	181	199	118	289	337
Consolidated Net Income / (Loss)	96	474	93	161	69	200	222	133	320	357
Net Income / (Loss) Continuing Operations	96	474	93	161	69	200	222	133	320	357
Total Pre-Tax Income	97	477	93	162	72	203	222	132	332	102
Total Operating Income	285	635	251	268	249	221	355	228	401	160
Total Gross Profit	1,063	1,049	979	813	800	776	703	674	651	603
Total Revenue	1,672	1,628	1,517	1,291	1,241	1,152	1,047	996	960	895
Operating Revenue	1,672	1,628	1,517	1,291	1,241	1,152	1,047	996	960	895
Total Cost of Revenue	609	579	539	478	441	376	344	322	309	292
Operating Cost of Revenue	609	579	539	478	441	376	344	322	309	292
Total Operating Expenses	778	414	728	545	551	555	349	446	250	443
Selling, General & Admin Expense	84	70	64	58	50	52	47	49	50	60
Depreciation Expense	695	692	680	620	619	508	436	436	426	381
Other Operating Expenses / (Income)	15	3.14	9.73	-132	2.13	0.47	2.12	4.34	0.73	2.34
Other Special Charges / (Income)	-17	-351	-25	-	-119	-5.28	-136	-43	-226	-
Total Other Income / (Expense), net	-188	-158	-158	-106	-178	-18	-132	-95	-69	-58
Interest Expense	196	181	156	186	203	171	134	129	123	122
Interest & Investment Income	20	4.69	4.95	66	19	138	-5.06	31	52	62
Other Income / (Expense), net	-12	18	-6.93	15	6.27	15	6.74	1.97	1.93	1.55
Income Tax Expense	0.88	2.11	0.35	1.44	2.55	3.84	0.69	-0.24	12	-3.89
Preferred Stock Dividends Declared	4.84	4.85	4.41	4.23	4.23	4.10	3.87	3.71	3.72	3.72
Net Income / (Loss) Attributable to Noncontrolling Interest	6.29	30	5.66	11	4.70	15	18	11	28	17
Basic Earnings per Share	$0.26	$1.34	$0.26	$0.49	$0.20	$0.63	$0.74	$0.44	$1.09	$1.30
Weighted Average Basic Shares Outstanding	329.29M	328.77M	321.67M	300.33M	294.55M	285.25M	268.18M	267.02M	265.39M	258.67M
Diluted Earnings per Share	$0.26	$1.34	$0.26	$0.48	$0.20	$0.63	$0.74	$0.44	$1.08	$1.29
Weighted Average Diluted Shares Outstanding	330.12M	329.10M	322.70M	301.70M	294.93M	286.02M	269.48M	268.83M	267.31M	263.75M
Weighted Average Basic & Diluted Shares Outstanding	331.13M	329.22M	329.17M	318.26M	296.82M	294.63M	275.61M	268.16M	267.37M	262.13M
Cash Dividends to Common per Share	$1.70	$1.64	$1.50	$1.45	$1.42	$1.35	$1.28	$1.23	$1.16	$1.09

This table shows UDR's 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	76	-6.24	21	28	42	32	32	346	30	43	22
Consolidated Net Income / (Loss)	82	-5.52	24	31	46	36	35	370	33	47	25
Net Income / (Loss) Continuing Operations	82	-5.52	24	31	46	36	35	370	33	47	25
Total Pre-Tax Income	82	-5.21	24	31	47	36	36	372	33	47	26
Total Operating Income	122	66	70	69	80	94	78	397	66	89	63
Total Gross Profit	266	270	267	265	261	265	263	261	261	261	250
Total Revenue	422	423	420	415	414	413	410	405	400	400	391
Operating Revenue	422	423	420	415	414	413	410	405	400	400	391
Total Cost of Revenue	156	153	154	150	152	149	148	144	139	138	141
Operating Cost of Revenue	156	153	154	150	152	149	148	144	139	138	141
Total Operating Expenses	143	204	197	196	181	170	184	-136	195	172	187
Selling, General & Admin Expense	19	25	21	20	18	21	15	16	17	17	16
Depreciation Expense	168	172	174	175	174	175	171	173	173	172	170
Other Operating Expenses / (Income)	3.30	23	1.47	1.00	-11	-0.22	-1.93	1.13	4.16	8.52	0.90
Other Special Charges / (Income)	-48	-	0.00	0.00	-	-	0.00	-326	-	-25	0.00
Total Other Income / (Expense), net	-40	-71	-46	-37	-33	-58	-42	-25	-33	-42	-37
Interest Expense	48	50	50	48	48	47	45	45	44	43	40
Interest & Investment Income	5.81	8.98	-1.88	4.05	9.09	-20	5.51	9.70	9.71	0.76	10
Other Income / (Expense), net	1.92	-31	6.16	6.50	5.87	9.37	-3.07	10	1.01	0.00	-7.50
Income Tax Expense	0.16	0.31	-0.16	0.39	0.34	0.09	0.43	1.35	0.23	-0.68	0.38
Preferred Stock Dividends Declared	1.21	1.20	1.20	1.21	1.23	1.22	1.22	1.22	1.18	1.11	1.11
Net Income / (Loss) Attributable to Noncontrolling Interest	5.35	-0.48	1.48	2.13	3.16	2.98	2.56	23	1.96	2.94	1.54
Basic Earnings per Share	$0.23	($0.01)	$0.06	$0.08	$0.13	$0.10	$0.10	$1.05	$0.09	$0.14	$0.07
Weighted Average Basic Shares Outstanding	330.63M	329.29M	329.42M	329.06M	328.82M	328.77M	328.76M	328.96M	328.79M	321.67M	324.70M
Diluted Earnings per Share	$0.23	($0.01)	$0.06	$0.08	$0.13	$0.10	$0.10	$1.05	$0.09	$0.14	$0.07
Weighted Average Diluted Shares Outstanding	331.72M	330.12M	330.56M	329.57M	328.95M	329.10M	329.20M	332.48M	329.42M	322.70M	325.69M
Weighted Average Basic & Diluted Shares Outstanding	331.30M	331.13M	329.96M	329.82M	329.31M	329.22M	328.93M	329.48M	329.17M	329.17M	325.54M

This table details how cash moves in and out of UDR's 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	0.56	4.67	1.78	4.25	-9.12	-176	187	-0.28	-5.43	-8.48
Net Cash From Operating Activities	877	833	820	664	604	631	561	519	537	459
Net Cash From Continuing Operating Activities	877	833	820	664	606	631	561	519	537	459
Net Income / (Loss) Continuing Operations	96	474	93	161	69	200	222	133	320	357
Consolidated Net Income / (Loss)	96	474	93	161	69	200	222	133	320	357
Depreciation Expense	695	692	680	620	619	508	436	436	426	381
Non-Cash Adjustments To Reconcile Net Income	94	-306	19	-114	-46	-84	-109	-57	-207	-269
Changes in Operating Assets and Liabilities, net	-8.80	-27	28	-2.83	-35	7.25	13	7.18	-1.99	-11
Net Cash From Investing Activities	-276	-289	-930	-1,272	-461	-1,687	-114	-407	-113	-265
Net Cash From Continuing Investing Activities	-276	-289	-930	-1,272	-461	-1,687	-114	-407	-113	-265
Purchase of Property, Plant & Equipment	-272	-330	-577	-1,411	-582	-1,555	-117	-223	-259	-362
Acquisitions	1.00	-1.00	0.00	0.00	-1.53	-12	-1.00	0.00	0.00	-
Purchase of Investments	-83	-157	-277	-0.63	-83	-204	-135	-124	-43	-220
Sale of Property, Plant & Equipment	99	326	41	280	278	38	247	71	302	388
Sale and/or Maturity of Investments	41	14	81	37	49	72	43	116	66	32
Other Investing Activities, net	-63	-141	-198	-178	-121	-25	-150	-249	-178	-103
Net Cash From Financing Activities	-600	-539	111	613	-153	880	-260	-112	-429	-202
Net Cash From Continuing Financing Activities	-600	-539	111	613	-153	880	-260	-112	-429	-202
Repayment of Debt	-173	-42	-27	-356	-790	-887	-342	-647	-610	-541
Repurchase of Common Equity	0.00	-25	-49	0.00	-20	0.00	-20	0.00	0.00	-
Payment of Dividends	-606	-580	-522	-472	-456	-419	-379	-363	-342	-298
Issuance of Debt	179	108	80	542	1,010	1,461	181	898	350	427
Issuance of Common Equity	0.00	0.00	630	899	102	725	300	0.00	173	210
Cash Interest Paid	192	184	155	137	159	161	132	126	125	130
Cash Income Taxes Paid	1.04	1.91	1.15	4.78	1.03	1.52	0.63	1.66	0.69	-1.01

This table details how cash moves in and out of UDR's 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	-2.11	-0.13	1.17	2.42	-2.90	2.41	2.07	1.17	-0.98	0.30	1.21
Net Cash From Operating Activities	156	241	230	238	168	219	204	242	168	217	205
Net Cash From Continuing Operating Activities	156	241	230	238	168	219	204	242	168	217	205
Net Income / (Loss) Continuing Operations	82	-5.52	24	31	46	36	35	370	33	47	25
Consolidated Net Income / (Loss)	82	-5.52	24	31	46	36	35	370	33	47	25
Depreciation Expense	168	172	174	175	174	175	171	173	173	172	170
Non-Cash Adjustments To Reconcile Net Income	-42	67	33	8.35	-14	9.71	5.52	-324	2.86	-14	-0.24
Changes in Operating Assets and Liabilities, net	-53	7.49	-1.44	24	-39	-1.64	-8.58	24	-41	12	9.43
Net Cash From Investing Activities	18	-49	-148	-98	18	-73	-156	57	-117	-91	-264
Net Cash From Continuing Investing Activities	18	-49	-148	-98	18	-73	-156	57	-117	-91	-264
Purchase of Property, Plant & Equipment	-62	-67	-74	-74	-57	-78	-99	-95	-59	-79	-70
Purchase of Investments	-119	-5.31	-68	-8.08	-1.38	-57	-21	-60	-18	-17	-157
Sale of Property, Plant & Equipment	204	-	-	-	99	78	-	248	0.00	41	-
Sale and/or Maturity of Investments	3.73	27	4.90	4.45	4.29	5.08	3.60	2.61	3.11	3.61	2.13
Other Investing Activities, net	-8.84	-4.30	-12	-21	-26	-21	-38	-40	-42	-39	-40
Net Cash From Financing Activities	-176	-192	-81	-138	-189	-144	-46	-297	-52	-126	60
Net Cash From Continuing Financing Activities	-176	-192	-81	-138	-189	-144	-46	-297	-52	-126	60
Repayment of Debt	15	-39	-86	-27	-21	-23	-2.43	5.73	-22	-14	8.87
Payment of Dividends	-152	-153	-152	-152	-150	-149	-149	-148	-134	-133	-133
Issuance of Debt	-40	-0.10	157	40	-18	28	130	-155	105	-125	100
Cash Interest Paid	72	26	69	28	69	28	66	26	65	23	60
Cash Income Taxes Paid	0.00	-0.02	0.17	0.95	-0.05	-0.00	0.25	1.46	0.21	0.13	0.35

This table presents UDR's 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	10,898	11,373	11,038	10,775	9,638	9,636	7,712	7,733	7,680	7,664
Total Current Assets	35	35	30	28	24	33	209	22	22	28
Cash & Equivalents	1.33	2.92	1.19	0.97	1.41	8.11	185	2.04	2.11	6.74
Restricted Cash	34	32	29	27	23	25	24	20	20	21
Plant, Property, & Equipment, net	9,312	9,756	9,808	9,604	8,466	8,471	6,542	6,847	6,692	6,543
Plant, Property & Equipment, gross	16,149	15,999	15,570	14,740	13,057	12,602	10,196	10,173	9,615	9,189
Accumulated Depreciation	6,837	6,243	5,762	5,137	4,591	4,131	3,654	3,326	2,923	2,646
Total Noncurrent Assets	1,550	1,582	1,201	1,143	1,147	1,132	961	864	965	1,093
Long-Term Investments	917	953	754	702	600	588	781	721	827	939
Noncurrent Note & Lease Receivables	248	229	55	27	158	154	42	19	20	17
Other Noncurrent Operating Assets	384	401	392	414	389	391	138	124	119	137
Total Liabilities & Shareholders' Equity	10,898	11,373	11,038	10,775	9,638	9,636	7,712	7,733	7,680	7,664
Total Liabilities	6,437	6,421	6,100	6,001	5,523	5,228	3,816	3,950	3,673	3,817
Total Current Liabilities	427	436	424	396	351	322	268	278	272	246
Accounts Payable	115	141	153	137	111	90	76	103	104	81
Accrued Expenses	99	95	84	79	75	123	59	52	47	48
Customer Deposits	62	51	52	55	49	-	35	32	34	36
Dividends Payable	152	150	134	125	116	109	98	91	87	80
Total Noncurrent Liabilities	6,009	5,985	5,677	5,605	5,172	4,906	3,548	3,672	3,401	3,571
Long-Term Debt	5,827	5,799	5,487	5,413	4,977	4,708	3,548	3,672	3,401	3,571
Capital Lease Obligations	182	186	189	192	196	199	-	-	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Redeemable Noncontrolling Interest	1,017	961	840	1,299	856	1,019	973	948	909	946
Total Equity & Noncontrolling Interests	3,444	3,991	4,098	3,474	3,259	3,389	2,923	2,835	3,097	2,901
Total Preferred & Common Equity	3,443	3,991	4,098	3,443	3,234	3,359	2,906	2,826	3,093	2,900
Preferred Stock	43	45	45	45	45	46	46	46	46	46
Total Common Equity	3,400	3,947	4,053	3,398	3,189	3,312	2,859	2,780	3,047	2,853
Common Stock	7,576	7,497	7,497	6,887	5,884	5,785	4,923	4,654	4,638	4,450
Accumulated Other Comprehensive Income / (Loss)	3.64	4.91	8.34	-4.26	-9.14	-10	-0.07	-2.68	-5.61	-13
Other Equity Adjustments	-4,179	-3,555	-3,452	-3,485	-2,686	-2,462	-2,064	-1,872	-1,586	-1,584
Noncontrolling Interest	0.34	0.21	0.21	31	24	31	17	9.56	3.86	0.86

This table presents UDR's 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	10,745	10,898	11,080	11,118	11,190	11,373	11,420	11,086	10,968	11,038	11,098
Total Current Assets	33	35	36	34	32	35	32	30	29	30	30
Cash & Equivalents	1.25	1.33	2.29	2.77	2.12	2.92	1.62	1.54	1.17	1.19	1.53
Restricted Cash	32	34	33	32	30	32	31	29	28	29	28
Plant, Property, & Equipment, net	9,059	9,312	9,413	9,498	9,584	9,756	9,801	9,497	9,716	9,808	9,862
Plant, Property & Equipment, gross	16,056	16,149	16,152	16,071	15,991	15,999	15,919	15,449	15,642	15,570	15,457
Accumulated Depreciation	6,997	6,837	6,740	6,573	6,407	6,243	6,117	5,952	5,927	5,762	5,595
Total Noncurrent Assets	1,653	1,550	1,632	1,586	1,574	1,582	1,586	1,558	1,223	1,201	1,206
Long-Term Investments	920	917	966	959	954	953	964	963	751	754	761
Noncurrent Note & Lease Receivables	366	248	280	242	235	229	209	184	71	55	40
Other Noncurrent Operating Assets	368	384	385	385	385	401	413	411	400	392	405
Total Liabilities & Shareholders' Equity	10,745	10,898	11,080	11,118	11,190	11,373	11,420	11,086	10,968	11,038	11,098
Total Liabilities	6,357	6,437	6,467	6,373	6,334	6,421	6,362	6,030	6,145	6,100	6,227
Total Current Liabilities	364	427	418	413	387	436	422	415	380	424	410
Accounts Payable	93	115	119	121	120	141	126	124	112	153	136
Accrued Expenses	65	99	98	92	65	95	96	86	62	84	87
Customer Deposits	52	62	50	49	50	51	51	57	58	52	54
Dividends Payable	154	152	152	152	152	150	150	148	148	134	133
Total Noncurrent Liabilities	5,993	6,009	6,048	5,960	5,947	5,985	5,940	5,615	5,765	5,677	5,816
Long-Term Debt	5,811	5,827	5,865	5,776	5,762	5,799	5,753	5,427	5,577	5,487	5,626
Capital Lease Obligations	181	182	183	184	185	186	187	188	188	189	190
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	1,057	1,017	1,099	1,022	937	961	907	936	902	840	920
Total Equity & Noncontrolling Interests	3,331	3,444	3,514	3,723	3,919	3,991	4,151	4,120	3,921	4,098	3,951
Total Preferred & Common Equity	3,331	3,443	3,514	3,722	3,919	3,991	4,151	4,120	3,921	4,098	3,951
Preferred Stock	43	43	43	43	45	45	45	45	45	45	45
Total Common Equity	3,288	3,400	3,471	3,679	3,874	3,947	4,106	4,075	3,876	4,053	3,906
Common Stock	7,578	7,576	7,530	7,512	7,503	7,497	7,491	7,512	7,497	7,497	7,335
Accumulated Other Comprehensive Income / (Loss)	2.47	3.64	4.61	7.91	9.24	4.91	8.36	9.12	6.82	8.34	8.78
Other Equity Adjustments	-4,293	-4,179	-4,064	-3,841	-3,638	-3,555	-3,393	-3,446	-3,628	-3,452	-3,438
Noncontrolling Interest	0.34	0.34	0.34	0.34	0.34	0.21	0.21	0.21	0.21	0.21	0.21

This table displays calculated financial ratios and metrics derived from UDR's 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	2.72%	7.26%	17.56%	4.00%	7.72%	10.06%	5.13%	3.74%	7.29%	9.36%
EBITDA Growth	-28.03%	-27.20%	2.28%	106.61%	17.41%	-6.62%	19.63%	-19.56%	52.72%	7.93%
EBIT Growth	-58.30%	33.83%	-27.68%	121.67%	8.00%	-34.58%	57.24%	-42.93%	149.94%	16.25%
NOPAT Growth	-55.40%	153.01%	-5.92%	10.55%	10.77%	-38.67%	54.89%	-40.98%	133.47%	-90.66%
Net Income Growth	-79.79%	412.52%	-84.99%	133.42%	-65.44%	-9.91%	67.01%	-58.59%	-10.30%	123.45%
EPS Growth	-80.60%	415.38%	-45.83%	140.00%	-68.25%	-14.86%	68.18%	-59.26%	-16.28%	118.64%
Operating Cash Flow Growth	5.31%	1.54%	47.02%	9.87%	-4.18%	12.49%	8.05%	-3.29%	16.99%	15.44%
Free Cash Flow Firm Growth	-93.20%	7,971.80%	98.73%	-4,082.27%	112.97%	-435.40%	765.18%	-74.32%	158.22%	-124.27%
Invested Capital Growth	-4.26%	-49.33%	-49.02%	11.33%	-0.27%	34.36%	-3.71%	2.38%	1.74%	10.76%
Revenue Q/Q Growth	0.57%	0.84%	3.51%	3.68%	-0.20%	3.33%	1.43%	1.00%	0.57%	3.24%
EBITDA Q/Q Growth	-6.87%	1.31%	93.03%	114.04%	5.18%	-5.53%	4.41%	-21.03%	40.25%	2.91%
EBIT Q/Q Growth	-20.03%	2.25%	73.70%	131.93%	18.59%	-25.44%	11.28%	-44.53%	148.29%	1.29%
NOPAT Q/Q Growth	-9.34%	0.62%	-11.87%	17.86%	18.34%	-26.78%	10.55%	-42.42%	131.85%	-5.10%
Net Income Q/Q Growth	-30.20%	-2.37%	-45.94%	153.93%	-52.65%	8.49%	6.74%	-58.12%	34.73%	44.16%
EPS Q/Q Growth	-29.73%	-2.90%	-46.94%	140.00%	-55.56%	6.78%	5.71%	-58.49%	30.12%	43.33%
Operating Cash Flow Q/Q Growth	2.51%	0.20%	4.68%	5.24%	-4.14%	3.25%	4.53%	-4.39%	0.12%	8.90%
Free Cash Flow Firm Q/Q Growth	9.39%	1,962.75%	50.19%	-1,643.33%	135.41%	-191.94%	93.73%	-66.25%	152.56%	-222.49%
Invested Capital Q/Q Growth	-1.45%	-0.52%	98.69%	106.19%	1.46%	14.25%	-2.39%	1.48%	2.00%	12.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.56%	64.44%	64.50%	146.09%	64.49%	67.32%	67.18%	67.67%	67.80%	67.39%
EBITDA Margin	57.88%	82.62%	121.72%	139.90%	70.42%	64.61%	76.15%	66.91%	86.30%	60.63%
Operating Margin	17.02%	39.02%	16.53%	41.52%	20.07%	19.19%	33.88%	22.89%	41.76%	17.84%
EBIT Margin	16.28%	40.11%	32.14%	43.86%	20.58%	20.52%	34.53%	23.08%	41.96%	18.01%
Profit (Net Income) Margin	5.73%	29.15%	12.20%	24.95%	5.56%	17.32%	21.16%	13.32%	33.38%	39.92%
Tax Burden Percent	99.09%	99.56%	199.25%	198.23%	96.44%	98.11%	99.69%	100.18%	96.51%	351.55%
Interest Burden Percent	35.54%	73.01%	76.21%	57.39%	28.00%	86.03%	61.48%	57.60%	82.42%	63.05%
Effective Tax Rate	0.91%	0.44%	0.75%	0.89%	3.56%	1.89%	0.31%	-0.18%	3.49%	-3.83%
Return on Invested Capital (ROIC)	2.85%	4.21%	1.69%	2.86%	2.73%	2.83%	5.30%	3.40%	5.87%	2.67%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.74%	2.14%	-0.80%	0.70%	-1.05%	2.33%	0.64%	0.01%	3.37%	9.55%
Return on Net Nonoperating Assets (RNNOA)	-0.82%	3.28%	-1.24%	1.52%	-1.11%	1.98%	0.47%	0.01%	2.29%	7.74%
Return on Equity (ROE)	2.04%	7.49%	2.15%	7.24%	1.62%	4.81%	5.77%	3.41%	8.16%	10.40%
Cash Return on Invested Capital (CROIC)	7.20%	69.68%	-0.90%	-113.22%	3.00%	-26.49%	9.08%	1.04%	4.14%	-7.54%
Operating Return on Assets (OROA)	2.44%	5.83%	2.24%	5.55%	2.65%	2.73%	4.68%	2.98%	5.25%	2.22%
Return on Assets (ROA)	0.86%	4.23%	1.70%	3.15%	0.72%	2.30%	2.87%	1.72%	4.18%	4.93%
Return on Common Equity (ROCE)	1.59%	6.06%	0.82%	5.37%	1.23%	3.57%	4.24%	2.55%	6.13%	8.40%
Return on Equity Simple (ROE_SIMPLE)	2.78%	11.89%	2.26%	4.68%	2.13%	5.94%	7.62%	4.69%	10.36%	12.32%
Net Operating Profit after Tax (NOPAT)	282	632	250	266	240	217	354	228	387	166
NOPAT Margin	16.87%	38.85%	16.47%	20.58%	19.36%	18.82%	33.78%	22.93%	40.30%	18.52%
Net Nonoperating Expense Percent (NNEP)	3.59%	2.08%	2.09%	4.46%	3.78%	0.49%	4.65%	3.38%	2.50%	-6.88%
Return On Investment Capital (ROIC_SIMPLE)	2.98%	6.34%	2.56%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	36.44%	35.56%	70.99%	74.02%	35.51%	32.68%	32.82%	32.33%	32.20%	32.61%
SG&A Expenses to Revenue	5.04%	4.30%	4.23%	4.46%	4.02%	4.47%	4.49%	4.88%	5.18%	6.67%
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	46.54%	25.42%	47.97%	104.57%	44.42%	48.14%	33.30%	44.78%	26.04%	49.55%
Earnings before Interest and Taxes (EBIT)	272	653	488	566	255	236	361	230	403	161
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	968	1,345	1,847	1,806	874	744	797	666	828	542
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.17	3.03	2.83	9.87	3.09	3.43	3.00	2.89	2.41	2.52
Price to Tangible Book Value (P/TBV)	4.17	3.03	2.83	9.87	3.09	3.43	3.00	2.89	2.41	2.52
Price to Revenue (P/Rev)	8.48	7.34	7.56	12.93	7.95	9.87	8.19	8.07	7.66	8.04
Price to Earnings (P/E)	167.27	27.18	138.97	229.94	164.36	62.89	43.04	68.22	25.45	21.37
Dividend Yield	3.95%	4.52%	4.27%	2.68%	5.32%	3.48%	4.00%	4.08%	4.22%	3.98%
Earnings Yield	0.60%	3.68%	0.72%	1.75%	0.61%	1.59%	2.32%	1.47%	3.93%	4.68%
Enterprise Value to Invested Capital (EV/IC)	2.10	1.78	1.73	2.35	1.75	1.90	1.86	1.76	1.64	1.65
Enterprise Value to Revenue (EV/Rev)	12.14	11.03	11.36	35.66	12.36	14.54	11.62	12.02	11.32	12.06
Enterprise Value to EBITDA (EV/EBITDA)	20.97	13.35	18.67	50.97	17.55	22.51	15.27	17.97	13.12	19.89
Enterprise Value to EBIT (EV/EBIT)	74.54	27.50	143.52	162.59	60.07	70.85	33.67	52.09	26.98	66.97
Enterprise Value to NOPAT (EV/NOPAT)	71.97	28.39	69.01	86.38	63.86	77.25	34.41	52.44	28.09	65.13
Enterprise Value to Operating Cash Flow (EV/OCF)	23.14	21.56	21.03	69.32	25.38	26.56	21.70	23.07	20.25	23.53
Enterprise Value to Free Cash Flow (EV/FCFF)	28.51	1.72	0.00	0.00	58.17	0.00	20.07	170.83	39.82	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.35	1.21	2.30	1.17	1.26	1.11	0.91	0.97	0.85	0.93
Long-Term Debt to Equity	1.35	1.21	1.15	2.35	1.26	1.11	0.91	0.97	0.85	0.93
Financial Leverage	1.10	1.54	1.55	1.09	1.06	0.85	0.74	0.73	0.68	0.81
Leverage Ratio	2.37	2.27	2.25	4.59	2.26	2.09	2.01	1.98	1.95	2.11
Compound Leverage Factor	0.84	1.65	0.86	2.64	0.63	1.80	1.24	1.14	1.61	1.33
Debt to Total Capital	57.39%	54.72%	106.96%	108.01%	55.69%	52.67%	47.66%	49.25%	45.92%	48.14%
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	57.39%	54.72%	106.96%	108.01%	55.69%	52.67%	47.66%	49.25%	45.92%	48.14%
Preferred Equity to Total Capital	0.41%	0.41%	0.85%	0.87%	0.48%	0.50%	0.62%	0.62%	0.63%	0.63%
Noncontrolling Interests to Total Capital	9.72%	8.79%	15.97%	25.89%	9.48%	11.27%	13.30%	12.85%	12.33%	12.77%
Common Equity to Total Capital	32.47%	36.08%	77.07%	66.10%	34.34%	35.56%	38.42%	37.28%	41.13%	38.47%
Debt to EBITDA	6.21	4.45	12.29	12.42	5.92	6.59	4.45	5.51	4.11	6.58
Net Debt to EBITDA	5.23	3.72	10.59	10.80	5.20	5.76	3.21	4.40	3.08	4.80
Long-Term Debt to EBITDA	6.21	4.45	6.15	12.42	5.92	6.59	4.45	5.51	4.11	6.58
Debt to NOPAT	21.31	9.47	45.44	42.21	21.53	22.62	10.03	16.08	8.79	21.55
Net Debt to NOPAT	17.93	7.90	19.58	36.71	18.93	19.75	7.23	12.83	6.60	15.72
Long-Term Debt to NOPAT	21.31	9.47	45.44	42.21	21.53	22.62	10.03	16.08	8.79	21.55
Altman Z-Score	1.51	1.41	1.30	1.83	1.25	1.47	1.63	1.41	1.46	1.28
Noncontrolling Interest Sharing Ratio	21.96%	19.12%	23.27%	51.78%	23.71%	25.67%	26.57%	25.21%	24.87%	19.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.08	0.08	0.22	0.23	0.07	0.10	0.78	0.08	0.08	0.11
Quick Ratio	0.00	0.01	0.00	0.00	0.00	0.03	0.69	0.01	0.01	0.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	712	10,462	-133	-10,502	264	-2,034	606	70	273	-469
Operating Cash Flow to CapEx	506.74%	18,804.52%	152.90%	117.42%	198.75%	41.57%	0.00%	342.14%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	3.64	57.84	-0.85	-56.38	1.30	-11.90	4.52	0.54	2.22	-3.85
Operating Cash Flow to Interest Expense	4.48	4.60	10.52	7.13	2.98	3.69	4.18	4.03	4.36	3.76
Operating Cash Flow Less CapEx to Interest Expense	3.60	4.58	3.64	-2.51	1.48	-5.19	5.15	2.85	4.71	3.97
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.28	0.13	0.13	0.13	0.14	0.13	0.13	0.12
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	0.18	0.17	0.16	0.14	0.15	0.15	0.16	0.15	0.15	0.14
Accounts Payable Turnover	4.75	3.93	3.71	7.71	4.38	4.53	3.83	3.11	3.34	3.38
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)	76.82	92.87	196.64	302.21	83.25	80.65	95.25	117.23	109.34	107.99
Cash Conversion Cycle (CCC)	-76.82	-92.87	-98.32	-94.72	-83.25	-80.65	-95.25	-117.23	-109.34	-107.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,669	10,099	19,929	19,546	8,778	8,802	6,551	6,804	6,646	6,532
Invested Capital Turnover	0.17	0.11	0.21	0.28	0.14	0.15	0.16	0.15	0.15	0.14
Increase / (Decrease) in Invested Capital	-430	-9,830	1,037	10,767	-23	2,251	-253	158	114	634
Enterprise Value (EV)	20,293	17,949	17,243	22,942	15,340	16,754	12,169	11,973	10,867	10,791
Market Capitalization	14,176	11,947	11,466	16,692	9,867	11,374	8,575	8,040	7,355	7,193
Book Value per Share	$10.30	$12.00	$12.45	$21.98	$10.83	$11.30	$10.65	$10.38	$11.40	$10.89
Tangible Book Value per Share	$10.30	$12.00	$25.05	$21.98	$10.83	$11.30	$10.65	$10.38	$11.40	$10.89
Total Capital	10,470	10,937	10,615	10,379	9,287	9,314	7,443	7,455	7,408	7,418
Total Debt	6,009	5,985	11,353	11,211	5,172	4,906	3,548	3,672	3,401	3,571
Total Long-Term Debt	6,009	5,985	5,677	11,211	5,172	4,906	3,548	3,672	3,401	3,571
Net Debt	5,056	4,997	9,784	9,749	4,548	4,285	2,558	2,929	2,552	2,604
Capital Expenditures (CapEx)	173	4.43	1,073	2,262	304	1,517	-130	152	-43	-25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-427	-436	-424	-579	-351	-322	-268	-278	-272	-246
Debt-free Net Working Capital (DFNWC)	-392	-401	-563	-522	-326	-289	-60	-256	-250	-218
Net Working Capital (NWC)	-392	-401	-394	-522	-326	-289	-60	-256	-250	-218
Net Nonoperating Expense (NNE)	186	158	157	209	171	17	132	96	66	-191
Net Nonoperating Obligations (NNO)	5,208	5,146	10,052	9,998	4,664	4,394	2,656	3,020	2,639	2,685
Total Depreciation and Amortization (D&A)	695	692	1,359	1,240	619	508	436	436	426	381
Debt-free, Cash-free Net Working Capital to Revenue	-25.57%	-26.81%	-41.10%	-30.69%	-28.24%	-27.98%	-25.64%	-27.93%	-28.30%	-27.50%
Debt-free Net Working Capital to Revenue	-23.45%	-24.66%	-37.12%	-40.46%	-26.29%	-25.09%	-5.69%	-25.74%	-26.00%	-24.42%
Net Working Capital to Revenue	-23.45%	-24.66%	-25.94%	-40.46%	-26.29%	-25.09%	-5.69%	-25.74%	-26.00%	-24.42%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.26	$1.34	$0.26	$0.49	$0.20	$0.63	$0.74	$0.44	$1.09	$1.30
Adjusted Weighted Average Basic Shares Outstanding	329.29M	328.77M	321.67M	300.33M	294.55M	285.25M	268.18M	267.02M	265.39M	258.67M
Adjusted Diluted Earnings per Share	$0.26	$1.34	$0.26	$0.48	$0.20	$0.63	$0.74	$0.44	$1.08	$1.29
Adjusted Weighted Average Diluted Shares Outstanding	330.12M	329.10M	322.70M	301.70M	294.93M	286.02M	269.48M	268.83M	267.31M	263.75M
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	331.13M	329.22M	329.17M	318.26M	296.82M	294.63M	275.61M	268.16M	267.37M	262.13M
Normalized Net Operating Profit after Tax (NOPAT)	265	283	224	531	125	212	218	129	169	112
Normalized NOPAT Margin	15.87%	17.36%	31.26%	41.15%	10.09%	18.37%	20.81%	12.97%	17.56%	12.49%
Pre Tax Income Margin	5.79%	29.28%	6.12%	25.17%	5.76%	17.65%	21.23%	13.30%	34.58%	11.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.39	3.61	1.56	3.04	1.26	1.38	2.69	1.79	3.27	1.32
NOPAT to Interest Expense	1.44	3.50	3.21	2.85	1.19	1.27	2.64	1.77	3.14	1.36
EBIT Less CapEx to Interest Expense	0.51	3.58	-3.75	-4.55	-0.24	-7.49	3.66	0.61	3.62	1.53
NOPAT Less CapEx to Interest Expense	0.56	3.47	-3.68	-9.29	-0.31	-7.61	3.60	0.60	3.49	1.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	632.20%	122.28%	1,128.25%	585.95%	660.58%	209.80%	170.86%	273.33%	106.85%	83.31%
Augmented Payout Ratio	632.20%	127.55%	1,234.16%	585.95%	689.29%	209.80%	179.89%	273.33%	106.85%	83.31%

This table displays calculated financial ratios and metrics derived from UDR's 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	2.01%	2.29%	2.45%	2.66%	3.53%	3.41%	4.81%	9.58%	11.84%	14.78%	18.66%
EBITDA Growth	12.62%	-25.62%	-49.17%	-78.40%	-45.91%	-46.69%	7.35%	416.68%	13.20%	-11.31%	16.25%
EBIT Growth	44.95%	-65.81%	-49.33%	-90.77%	-36.29%	16.07%	26.76%	2,829.20%	195.68%	-29.26%	185.80%
NOPAT Growth	54.02%	-50.64%	-8.85%	-82.83%	-39.75%	3.79%	48.88%	723.95%	180.90%	-26.83%	92.08%
Net Income Growth	77.22%	-115.36%	-32.02%	-91.62%	40.65%	-24.24%	40.86%	6,801.25%	125.47%	-62.37%	32.06%
EPS Growth	76.92%	-110.00%	-40.00%	-92.38%	44.44%	-28.57%	42.86%	10,400.00%	125.00%	-62.16%	16.67%
Operating Cash Flow Growth	-6.79%	9.80%	13.09%	-1.45%	-0.25%	0.75%	-0.93%	4.14%	4.34%	20.27%	33.68%
Free Cash Flow Firm Growth	-94.92%	1,275.30%	566.07%	-97.39%	2,129.40%	59.81%	-100.49%	-92.91%	93.66%	88.42%	143.87%
Invested Capital Growth	-3.88%	-4.26%	-3.35%	0.38%	-49.93%	1.35%	1.21%	-0.75%	-49.00%	1.96%	-47.10%
Revenue Q/Q Growth	-0.18%	0.61%	1.17%	0.41%	0.09%	0.77%	1.38%	2.50%	-0.03%	2.14%	5.99%
EBITDA Q/Q Growth	41.17%	-17.20%	0.00%	-3.64%	-6.77%	-43.42%	-115.02%	141.34%	-8.11%	27.86%	212.34%
EBIT Q/Q Growth	250.31%	-53.39%	1.13%	-12.22%	-17.37%	-30.92%	-163.14%	1,011.27%	50.54%	-24.57%	254.40%
NOPAT Q/Q Growth	162.84%	-34.01%	3.67%	-14.35%	-15.77%	21.86%	-80.47%	200.58%	90.23%	92.22%	58.57%
Net Income Q/Q Growth	1,585.99%	-122.94%	-22.36%	-33.03%	28.78%	1.53%	-90.43%	2,048.64%	-61.27%	177.55%	737.55%
EPS Q/Q Growth	2,400.00%	-116.67%	-25.00%	-38.46%	30.00%	0.00%	-180.95%	1,066.67%	-71.43%	200.00%	1,200.00%
Operating Cash Flow Q/Q Growth	-35.06%	4.47%	-3.44%	42.28%	-23.50%	7.60%	-15.86%	44.02%	-45.46%	6.30%	-13.72%
Free Cash Flow Firm Q/Q Growth	6.89%	16.16%	1,258.85%	-99.70%	24,832.63%	53.94%	-107.60%	334.37%	-498.50%	-101.12%	203.81%
Invested Capital Q/Q Growth	-0.90%	-1.45%	-0.52%	-1.07%	-1.28%	-0.52%	3.32%	-100.53%	199.67%	-0.66%	0.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.92%	63.87%	63.43%	63.80%	63.14%	64.02%	164.02%	164.47%	65.27%	65.35%	63.86%
EBITDA Margin	69.34%	49.03%	59.58%	60.27%	62.81%	67.43%	60.04%	286.52%	120.21%	65.39%	57.66%
Operating Margin	28.96%	15.68%	16.63%	16.53%	19.28%	22.81%	38.07%	196.02%	33.13%	22.34%	16.08%
EBIT Margin	29.42%	8.38%	18.09%	18.10%	20.70%	25.07%	36.58%	201.19%	33.64%	22.34%	14.16%
Profit (Net Income) Margin	19.45%	-1.31%	5.73%	7.47%	11.20%	8.70%	17.27%	183.01%	8.24%	11.88%	6.43%
Tax Burden Percent	99.81%	105.99%	100.65%	98.77%	99.28%	99.74%	197.61%	199.27%	198.59%	202.92%	197.05%
Interest Burden Percent	66.25%	-14.71%	31.47%	41.77%	54.48%	34.79%	95.59%	182.59%	49.35%	104.82%	46.05%
Effective Tax Rate	0.19%	0.00%	-0.65%	1.23%	0.72%	0.26%	1.19%	0.36%	0.71%	-2.92%	2.95%
Return on Invested Capital (ROIC)	4.97%	1.86%	2.79%	2.74%	2.10%	3.69%	3.01%	31.89%	1.74%	3.48%	1.60%
ROIC Less NNEP Spread (ROIC-NNEP)	4.19%	0.85%	2.19%	2.24%	1.68%	2.55%	2.19%	30.85%	2.65%	2.62%	1.13%
Return on Net Nonoperating Assets (RNNOA)	4.67%	0.94%	3.48%	3.35%	2.66%	2.62%	2.27%	30.27%	2.13%	2.71%	1.90%
Return on Equity (ROE)	9.64%	2.80%	6.26%	6.09%	4.77%	6.31%	15.06%	61.69%	7.73%	6.19%	3.50%
Cash Return on Invested Capital (CROIC)	7.29%	7.20%	6.52%	102.66%	70.87%	104.29%	10.05%	20.07%	-130.27%	-1.35%	-1.84%
Operating Return on Assets (OROA)	4.51%	1.26%	2.67%	2.69%	3.07%	3.64%	2.62%	29.06%	4.85%	3.11%	1.93%
Return on Assets (ROA)	2.98%	-0.20%	0.85%	1.11%	1.66%	1.26%	1.24%	26.44%	2.37%	1.65%	0.88%
Return on Common Equity (ROCE)	7.47%	2.18%	4.91%	4.82%	3.82%	5.11%	4.26%	24.52%	2.95%	4.75%	2.65%
Return on Equity Simple (ROE_SIMPLE)	3.95%	0.00%	3.91%	3.99%	12.45%	0.00%	11.71%	11.55%	2.83%	0.00%	4.33%
Net Operating Profit after Tax (NOPAT)	122	46	70	68	79	94	77	395	131	91	62
NOPAT Margin	28.90%	10.98%	16.73%	16.33%	19.14%	22.75%	18.81%	97.66%	32.90%	22.66%	15.84%
Net Nonoperating Expense Percent (NNEP)	0.77%	1.00%	0.60%	0.50%	0.43%	1.14%	2.51%	1.04%	0.88%	0.86%	0.48%
Return On Investment Capital (ROIC_SIMPLE)	1.31%	0.49%	-	-	-	0.94%	-	-	-	0.93%	-
Cost of Revenue to Revenue	37.08%	36.13%	36.57%	36.20%	36.86%	35.98%	35.98%	71.06%	69.47%	34.65%	36.14%
SG&A Expenses to Revenue	4.62%	6.02%	4.97%	4.85%	4.31%	5.04%	8.52%	9.19%	9.51%	4.21%	4.05%
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	33.96%	48.19%	46.81%	47.27%	43.85%	41.22%	125.94%	-33.54%	132.14%	43.01%	47.78%
Earnings before Interest and Taxes (EBIT)	124	35	76	75	86	104	150	814	134	89	118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	293	207	250	250	260	279	492	1,159	480	523	459
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.50	4.17	4.27	3.64	3.11	3.03	2.71	6.72	3.27	2.83	3.19
Price to Tangible Book Value (P/TBV)	4.50	4.17	4.27	3.64	3.11	3.03	2.71	6.72	3.27	5.78	3.19
Price to Revenue (P/Rev)	8.81	8.48	8.91	8.12	7.33	7.34	6.90	8.40	8.12	7.56	8.50
Price to Earnings (P/E)	125.06	167.27	120.65	100.83	26.66	27.18	24.67	30.30	127.09	284.19	80.10
Dividend Yield	3.80%	3.95%	3.76%	4.14%	4.59%	4.52%	9.43%	3.83%	3.95%	4.27%	3.87%
Earnings Yield	0.80%	0.60%	0.83%	0.99%	3.75%	3.68%	4.05%	3.30%	0.79%	1.42%	1.25%
Enterprise Value to Invested Capital (EV/IC)	2.19	2.10	2.14	1.97	1.80	1.78	3.41	1.93	1.87	1.73	1.84
Enterprise Value to Revenue (EV/Rev)	12.46	12.14	12.63	11.77	10.95	11.03	10.55	11.91	11.93	23.07	12.58
Enterprise Value to EBITDA (EV/EBITDA)	20.93	20.97	20.21	18.78	13.18	13.35	12.83	14.54	9.77	18.95	19.28
Enterprise Value to EBIT (EV/EBIT)	67.39	74.54	61.69	57.28	26.79	27.50	26.67	15.35	70.02	35.35	65.69
Enterprise Value to NOPAT (EV/NOPAT)	64.38	71.97	67.51	61.12	27.85	28.39	54.95	62.91	34.63	140.08	65.06
Enterprise Value to Operating Cash Flow (EV/OCF)	24.20	23.14	24.55	23.46	21.61	21.56	20.49	22.83	22.49	21.03	23.54
Enterprise Value to Free Cash Flow (EV/FCFF)	29.40	28.51	32.27	1.92	1.70	1.72	33.57	47.93	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.37	1.35	1.31	1.26	1.22	1.21	1.17	2.22	1.20	1.15	1.19
Long-Term Debt to Equity	1.37	1.35	1.31	1.26	1.22	1.21	2.35	1.11	2.39	2.30	1.19
Financial Leverage	1.11	1.10	1.59	1.50	1.59	1.03	2.06	1.99	1.62	2.06	1.69
Leverage Ratio	2.37	2.37	2.33	2.27	2.29	2.27	4.54	2.22	2.28	2.25	2.34
Compound Leverage Factor	1.57	-0.35	0.73	0.95	1.25	0.79	2.17	4.06	2.25	2.35	1.08
Debt to Total Capital	57.72%	57.39%	56.73%	55.68%	55.05%	54.72%	108.01%	105.24%	54.45%	53.48%	54.42%
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	57.72%	57.39%	56.73%	55.68%	55.05%	54.72%	108.01%	105.24%	108.90%	53.48%	54.42%
Preferred Equity to Total Capital	0.42%	0.41%	0.41%	0.40%	0.41%	0.41%	0.41%	0.84%	0.85%	0.85%	0.42%
Noncontrolling Interests to Total Capital	10.19%	9.72%	10.31%	9.55%	8.68%	8.79%	16.65%	8.77%	8.52%	7.91%	8.61%
Common Equity to Total Capital	31.67%	32.47%	32.55%	34.37%	35.86%	36.08%	37.34%	77.07%	36.61%	77.07%	36.55%
Debt to EBITDA	5.99	6.21	5.82	5.76	4.36	4.45	4.48	8.59	3.03	3.07	6.08
Net Debt to EBITDA	5.04	5.23	4.86	4.80	3.64	3.72	7.45	7.07	2.62	5.30	5.25
Long-Term Debt to EBITDA	5.99	6.21	5.82	5.76	4.36	4.45	4.48	4.30	6.06	6.15	6.08
Debt to NOPAT	18.42	21.31	19.45	18.74	9.21	9.47	18.91	18.31	10.74	22.72	20.52
Net Debt to NOPAT	15.49	17.93	16.23	15.62	7.68	7.90	15.73	7.54	18.56	19.58	17.73
Long-Term Debt to NOPAT	18.42	21.31	19.45	18.74	9.21	9.47	9.45	18.31	10.74	22.72	20.52
Altman Z-Score	1.55	1.44	1.51	1.39	1.27	1.25	1.17	1.56	2.79	1.25	1.31
Noncontrolling Interest Sharing Ratio	22.53%	21.96%	21.66%	20.87%	19.93%	19.12%	19.31%	41.02%	47.56%	23.27%	24.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.09	0.08	0.09	0.08	0.08	0.08	0.18	0.25	0.08	0.07	0.07
Quick Ratio	0.00	0.00	0.01	0.01	0.01	0.01	0.00	0.01	0.01	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	509	476	410	30	10,022	-41	-88	1,157	-494	-101	8,991
Operating Cash Flow to CapEx	0.00%	361.17%	309.90%	323.81%	0.00%	235,560.22%	412.04%	0.00%	285.33%	1,147.37%	582.43%
Free Cash Flow to Firm to Interest Expense	10.67	9.60	8.17	0.63	208.52	-0.86	-0.98	12.70	-5.96	-2.33	225.32
Operating Cash Flow to Interest Expense	3.27	4.85	4.59	4.99	3.49	4.63	4.56	5.36	7.68	5.03	5.13
Operating Cash Flow Less CapEx to Interest Expense	6.25	3.51	3.11	3.45	4.35	4.63	2.35	8.76	4.99	4.15	3.37
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.15	0.15	0.15	0.15	0.14	0.29	0.29	0.28	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	0.18	0.18	0.17	0.17	0.17	0.17	0.16	0.17	0.16	0.16	0.15
Accounts Payable Turnover	5.76	4.75	4.94	4.89	5.12	3.93	4.34	4.30	4.79	3.71	4.22
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)	63.40	76.82	73.94	74.71	71.32	92.87	84.06	84.87	76.16	98.32	86.55
Cash Conversion Cycle (CCC)	-63.40	-76.82	-73.94	-74.71	-71.32	-92.87	-84.06	-84.87	-76.16	-98.32	-86.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,582	9,669	9,811	9,863	9,969	10,099	10,151	9,825	19,912	9,964	10,030
Invested Capital Turnover	0.17	0.17	0.17	0.17	0.11	0.16	0.16	0.16	0.11	0.15	0.10
Increase / (Decrease) in Invested Capital	-387	-430	-340	38	-9,943	135	10,113	-178	392	654	-8,929
Enterprise Value (EV)	20,941	20,293	20,999	19,442	17,983	17,949	17,027	18,995	18,599	17,243	18,445
Market Capitalization	14,801	14,176	14,810	13,410	12,040	11,947	11,132	13,393	12,668	11,466	12,455
Book Value per Share	$9.93	$10.30	$10.52	$11.17	$11.78	$12.00	$12.46	$24.76	$11.78	$12.45	$12.02
Tangible Book Value per Share	$9.93	$10.30	$10.52	$11.17	$11.78	$12.00	$24.93	$24.76	$23.57	$12.45	$12.02
Total Capital	10,381	10,470	10,661	10,705	10,804	10,937	10,998	21,341	21,176	10,615	10,688
Total Debt	5,993	6,009	6,048	5,960	5,947	5,985	11,879	11,230	5,765	5,677	5,816
Total Long-Term Debt	5,993	6,009	6,048	5,960	5,947	5,985	11,879	11,230	11,531	5,677	5,816
Net Debt	5,039	5,056	5,047	4,967	4,961	4,997	9,886	4,621	4,985	4,892	5,025
Capital Expenditures (CapEx)	-142	67	74	74	-42	0.09	99	-153	118	38	140
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-364	-427	-418	-413	-387	-436	-725	-586	-518	-624	-410
Debt-free Net Working Capital (DFNWC)	-331	-392	-383	-379	-355	-401	-660	-526	-460	-563	-380
Net Working Capital (NWC)	-331	-392	-383	-379	-355	-401	-390	-385	-460	-394	-380
Net Nonoperating Expense (NNE)	40	52	46	37	33	58	42	50	33	43	37
Net Nonoperating Obligations (NNO)	5,193	5,208	5,198	5,118	5,113	5,146	10,186	9,539	10,266	5,026	5,159
Total Depreciation and Amortization (D&A)	168	172	174	175	174	175	342	345	173	172	340
Debt-free, Cash-free Net Working Capital to Revenue	-21.66%	-25.57%	-25.16%	-25.00%	-23.55%	-26.81%	-26.16%	-36.76%	-33.21%	-41.10%	-27.99%
Debt-free Net Working Capital to Revenue	-19.68%	-23.45%	-23.02%	-22.92%	-21.60%	-24.66%	-24.15%	-32.95%	-22.46%	-25.94%	-25.95%
Net Working Capital to Revenue	-19.68%	-23.45%	-23.02%	-22.92%	-21.60%	-24.66%	-24.15%	-32.95%	-29.46%	-37.12%	-25.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.23	($0.01)	$0.06	$0.08	$0.13	$0.10	$0.10	$1.05	$0.09	$0.14	$0.07
Adjusted Weighted Average Basic Shares Outstanding	330.63M	329.29M	329.42M	329.06M	328.82M	328.77M	328.76M	328.96M	328.79M	321.67M	324.70M
Adjusted Diluted Earnings per Share	$0.23	($0.01)	$0.06	$0.08	$0.13	$0.10	$0.10	$1.05	$0.09	$0.14	$0.07
Adjusted Weighted Average Diluted Shares Outstanding	331.72M	330.12M	330.56M	329.57M	328.95M	329.10M	329.20M	332.48M	329.42M	322.70M	325.69M
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	331.30M	331.13M	329.96M	329.82M	329.31M	329.22M	328.93M	329.48M	329.17M	329.17M	325.54M
Normalized Net Operating Profit after Tax (NOPAT)	74	46	49	68	79	94	77	465	131	45	62
Normalized NOPAT Margin	17.56%	10.98%	11.64%	16.33%	19.14%	22.75%	18.81%	115.05%	32.90%	11.17%	15.84%
Pre Tax Income Margin	19.49%	-1.23%	5.69%	7.56%	11.28%	8.72%	8.74%	183.68%	16.60%	11.71%	6.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.60	0.71	1.51	1.57	1.78	2.19	1.68	18.04	1.54	2.06	1.39
NOPAT to Interest Expense	2.56	0.94	1.40	1.42	1.65	1.99	3.45	8.76	1.50	2.09	1.55
EBIT Less CapEx to Interest Expense	5.57	-0.63	0.03	0.03	2.65	2.19	-0.53	12.42	0.38	1.19	-0.37
NOPAT Less CapEx to Interest Expense	5.53	-0.41	-0.08	-0.12	2.51	1.98	-0.49	24.31	0.16	1.22	-0.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	461.84%	632.20%	438.56%	403.01%	122.11%	122.28%	116.16%	115.44%	959.96%	1,128.25%	297.80%
Augmented Payout Ratio	461.84%	632.20%	438.56%	403.01%	122.11%	127.55%	256.56%	115.44%	959.96%	617.08%	306.64%

Frequently Asked Questions About UDR's Financials

When does UDR's fiscal year end?

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

How has UDR's net income changed over the last 9 years?

UDR's net income appears to be on a downward trend, with a most recent value of $95.88 million in 2024, falling from $357.16 million in 2015. The previous period was $474.49 million in 2023. View UDR's forecast to see where analysts expect UDR to go next.

What is UDR's operating income?

UDR's total operating income in 2024 was $284.57 million, based on the following breakdown:

Total Gross Profit: $1.06 billion
Total Operating Expenses: $778.09 million

How has UDR revenue changed over the last 9 years?

Over the last 9 years, UDR's total revenue changed from $894.64 million in 2015 to $1.67 billion in 2024, a change of 86.9%.

How much debt does UDR have?

UDR's total liabilities were at $6.44 billion at the end of 2024, a 0.2% increase from 2023, and a 68.6% increase since 2015.

How much cash does UDR have?

In the past 9 years, UDR's cash and equivalents has ranged from $967 thousand in 2021 to $185.22 million in 2018, and is currently $1.33 million as of their latest financial filing in 2024.

How has UDR's book value per share changed over the last 9 years?

Over the last 9 years, UDR's book value per share changed from 10.89 in 2015 to 10.30 in 2024, a change of -5.4%.

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This page (NYSE:UDR) was last updated on 5/25/2025 by MarketBeat.com Staff

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UDR (UDR) Financials

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UDR (UDR) Financials

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