MARKETS / NYSE / AVB

NYSE · 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

Revenue

$7.0M

▼ 0.6% YoY

Net income

$1.1B

▼ 2.3% YoY

Free cash flow

$461.7M

▼ 29.7% YoY

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 7.0M

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 0.0 · Net income 1.1

Compound annual growth

Revenue

+3.6%

+13.0%

−42.7%

−27.3%

Net income

−2.4%

+5.0%

EPS, diluted

−3.0%

+4.7%

+3.0%

+8.9%

Dividend / share

+3.2%

+1.9%

+3.4%

+4.6%

Returned to shareholders

+17.3%

−4.8%

+2.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +13.0% a year over five years — 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

15004 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 28698.5% · Net 15004.2%

ROE

FY2025 · ROE 9.0%

Gross margin—

Operating margin28698.5%

Net margin15004.2%

Return on assets4.9%

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

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 401.5

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

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.9	1.7	1.5	1.0	0.9	0.8	0.8	0.8	0.7
Operating income $B	2.0	1.9	1.8	1.7	1.5	1.5	1.6	1.5	1.4	1.3	1.2	1.1	1.0	0.7	0.6	0.5	·	·	·
EBITDA $B	2.9	2.8	2.6	2.5	2.2	2.2	2.2	2.1	2.0	1.8	1.7	1.5	1.5	0.9	0.8	·	·	·	·
Income tax $B	−0.0	0.0	0.0	0.0	0.0	−0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·	·	·	·
Net income $B	1.1	1.1	0.9	1.1	1.0	0.8	0.8	1.0	0.9	1.0	0.7	0.7	0.4	0.4	0.4	0.2	0.2	0.4	0.4
Free cash flow $B	0.5	0.7	0.7	0.5	0.5	0.4	0.3	0.2	1.2	1.2	1.1	0.9	0.7	0.5	0.4	0.3	0.4	0.4	0.5
EPS, diluted $	7.40	7.60	6.56	8.12	7.19	5.89	5.63	7.05	6.35	7.52	5.51	5.21	2.78	4.32	4.87	2.07	1.93	5.17	4.38
Dividend / sh $	7.00	6.80	6.60	6.36	6.36	6.36	6.08	5.88	5.68	5.40	5.00	4.64	4.28	3.88	3.57	3.57	3.57	5.38	3.40
Payout %	·	·	·	·	·	·	107	83	88	70	88	87	149	86	72	169	182	68	75
ROE %	9.0	9.1	8.1	10.2	9.3	7.6	7.3	9.2	·	·	8.2	7.7	4.6	7.5	11.4	5.5	5.2	13.9	11.8
Shares out B	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.13	0.13	0.11	0.10	0.09	·	·	·

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

Provenance

Company facts, as filed

How we verify · 0 failures in 55 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 18 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNYSE

Incorporated inMaryland

Fiscal year endsDecember 31

Data on record since2007