AI Takeaway
EQR delivered solid FY2025 results with net income rising 8.1% to $1.12B and operating cash flow growing 4.8% to $1.65B, while significantly accelerating share buybacks to $280.7M, reflecting management's confidence in the company's financial position.
EPS (Basic)
$2.95
++8.06% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
EQR's net income increased 8.1% year-over-year to $1.12B in FY2025 from $1.04B in the prior year, demonstrating continued earnings momentum in its residential apartment portfolio.
Source: Source: 10-K Income Statement
Operating cash flow grew 4.8% to $1.65B in FY2025 versus $1.57B in FY2024, underscoring the resilience and cash-generative nature of EQR's multifamily real estate operations.
Source: Source: 10-K Cash Flow Statement
EQR dramatically increased share repurchases by 629.6% to $280.7M in FY2025 compared to just $38.5M in FY2024, signaling management's view that shares represent an attractive use of capital.
Source: Source: 10-K Cash Flow Statement
2 more insights available
Upgrade to unlockEQR carries $8.24B in long-term debt, making it sensitive to interest rate fluctuations that could increase refinancing costs. Rising rates could compress net operating income and reduce distributable cash flow to shareholders.
Source: Source: 10-K Balance Sheet
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $1.00 versus the $0.39 analyst consensus — a +155.7% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Income | $1.12B | $1.04B | +8.13% |
EPS (Basic) | $2.95 | $2.73 | +8.06% |
EPS (Diluted) | $2.94 | $2.72 | +8.09% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $20.75B | $20.83B | -0.42% |
Total Liabilities | $9.34B | $9.25B | +0.94% |
Stockholders' Equity | $11.04B | $11.04B | -0.03% |
Cash & Equivalents | $55.9M | $62.3M | -10.27% |
Long-Term Debt | $8.24B | $8.19B | +0.59% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $1.65B | $1.57B | +4.78% |
Investing Cash Flow | $-321.36M | $-1.18B | +72.68% |
Financing Cash Flow | $-1.33B | $-376.95M | -252.49% |
Share Buybacks | $280.72M | $38.47M | +629.64% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
ROE | 10.1% | — | — |
ROA | 5.4% | — | — |
Debt to Equity | $0.846 | — | — |
Other companies in Multi-Family Residential REITs
EQR delivered solid FY2025 results with net income rising 8.1% to $1.12B and basic EPS growing to $2.95 from $2.73. Operating cash flow also increased 4.8% to $1.65B, reflecting healthy performance from its multifamily apartment portfolio.
Yes, EQR dramatically accelerated share repurchases in FY2025, buying back $280.7M worth of shares compared to just $38.5M in FY2024, a 629.6% increase. This signals management's confidence in the company's valuation and financial strength.
EQR's long-term debt stood at $8.24B as of FY2025, with a debt-to-equity ratio of 0.85x, indicating moderate and manageable leverage. However, cash reserves are thin at just $55.9M, so the company relies on its strong operating cash flow of $1.65B to meet obligations.
Based on the financial data, key risks include interest rate sensitivity on $8.24B of long-term debt, a sharp increase in financing outflows to -$1.33B, and very low cash reserves of $55.9M relative to total liabilities of $9.34B. Concentration in residential real estate also exposes EQR to rental demand fluctuations in its target markets.
EQR's investing cash outflows narrowed significantly to -$321.4M in FY2025 from -$1.18B in FY2024, a 72.7% improvement. This likely reflects a more selective acquisition strategy or higher proceeds from property dispositions compared to the prior year.