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MARKETS / Real estate / Real estate investment trusts / AVB
REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Avalonbay Communities Inc. AVB

19 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$3.0B
▲ 4.4% YoY
$1.1B
▼ 2.3% YoY
$461.7M
▼ 29.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

We develop, redevelop, acquire, own and operate apartment communities in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in our expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. At January 31, 2026, we had 3,041 employees, of which approximately 99% were employed on a full-time basis. Approximately 61% of our associates work on-site at our operating communities.

Written from the business description in AvalonBay Communities, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 3.0B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.0 · Net income 1.1
2B3B
2007201020132016201920222025
Compound annual growth
+5.4%
+5.7%
+5.1%
+8.9%
−2.4%
+5.0%
−3.0%
+4.7%
+3.0%
+8.9%
+3.2%
+1.9%
+3.4%
+4.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.7% a year over the five years to FY2025 — but profit grew slower: net income at +5.0%, earnings per share at +4.7%.

The share count rose from 0.14B to 0.14B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

35 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 66.5% · Net 34.7%
20%40%60%
200720162025
ROE
FY2025 · ROE 9.0%
5%10%
200720162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin·
Operating margin66.5%
Net margin34.7%
EBITDAUSD 2.9B

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 401.5M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 0.5
0.5B1.0B
200720162025
Net buybacks $M Dividends $M
FY2025 · Dividends · · Net buybacks 401.5
300M600M-200M-400MDividendsNet buybacks
2007201020132016201920222025
Dividends paid·
Net buybacksUSD 401.5M
Share of profit38.0%
Consecutive raises3 years

USD 401.5M in buybacks — 38% of the year's profit went back to shareholders.

Total assetsUSD 22.2B
EquityUSD 11.6B
CashUSD 187.2M
Gross debtUSD 9.3B
Net debtUSD 9.1B

Net debt stands at 79% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
AVB, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B3.02.92.82.62.32.32.32.32.22.01.91.71.51.00.90.80.80.80.7
Operating income $B2.01.91.81.71.51.51.61.51.41.31.21.11.00.70.60.5◌◌◌
EBITDA $B2.92.82.62.52.22.22.22.12.01.81.71.51.50.90.8◌◌◌◌
Income tax $B−0.00.00.00.00.0−0.00.0−0.00.00.00.00.00.00.0◌◌◌◌◌
Net income $B1.11.10.91.11.00.80.81.00.91.00.70.70.40.40.40.20.20.40.4
Free cash flow $B0.50.70.70.50.50.40.30.21.21.21.10.90.70.50.40.30.40.40.5
EPS, diluted $7.407.606.568.127.195.895.637.056.357.525.515.212.784.324.872.071.935.174.38
Dividend / sh $7.006.806.606.366.366.366.085.885.685.405.004.644.283.883.573.573.575.383.40
Payout %——————107838870888714986721691826875
ROE %9.09.18.110.29.37.67.39.38.510.37.97.74.67.511.45.55.213.911.8
Shares out B0.140.140.140.140.140.140.140.140.140.140.140.130.130.110.100.09◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

BN · CBRE · JLL · WELL · AMT · CWK
Provenance

Company facts, as filed

How we verify · 0 failures in 55 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: cost of revenue is not tagged before 2009. One check was skipped: the share count is not tagged before 2008. One check was skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onnot stated in the filings
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2007

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