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AvalonBay Communities, Inc., a member of the S&P 500, is an equity REIT. The firm develops, redevelops, acquires and manages communities in leading metropolitan areas 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 the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. As of December 31, 2025, the Company owned or held a direct or indirect ownership interest in 320 communities containing 98,694 apartment homes in 11 states and the District of Columbia, of which 24 communities were under development. AvalonBay Communities, Inc. was incorporated in 1978 in Maryland, USA.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.0B | $2.2B | $1.1B | $1.4B | 9.1% | 4.4% | -2.8% |
| 2024 | $2.9B | $2.2B | $1.1B | $1.4B | 9.1% | 5.3% | 16.5% |
| 2023 | $2.8B | $2.0B | $929M | $1.4B | 7.9% | 6.7% | -18.3% |
| 2022 | $2.6B | $2.2B | $1.1B | $1.2B | 10.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 3,040.72 |
| Operating Revenue | 3,040.72 |
| Cost Of Revenue | 1,120.91 |
| Gross Profit | 1,919.81 |
| Operating Expense | 1,000.06 |
| Research And Development | - |
| Selling General And Administration | 86.68 |
| Total Expenses | 2,120.97 |
| Operating Income | 919.76 |
| EBITDA | 2,228.02 |
| Normalized EBITDA | 1,893.58 |
| EBIT | 1,314.64 |
| Interest Income | 27.48 |
| Interest Expense | 259.18 |
| Net Interest Income | -231.70 |
| Other Non Operating Income Expenses | -6.72 |
| Other Income Expense | 367.41 |
| Interest Income Non Operating | 27.48 |
| Interest Expense Non Operating | 259.18 |
| Net Non Operating Interest Income Expense | -231.70 |
| Pretax Income | 1,055.46 |
| Tax Provision | -1.14 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 70.23 |
| Net Income Continuous Operations | 1,056.60 |
| Net Income From Continuing And Discontinued Operation | 1,051.30 |
| Net Income | 1,051.30 |
| Net Income Common Stockholders | 1,049.33 |
| Net Income Including Noncontrolling Interests | 1,056.60 |
| Normalized Income | 787.10 |
| Diluted NI Availto Com Stockholders | 1,056.60 |
| Basic Average Shares | 142.01 |
| Diluted Average Shares | 142.83 |
| Reconciled Depreciation | 913.38 |
| Reconciled Cost Of Revenue | 1,120.91 |
| Total Unusual Items | 334.44 |
| Total Unusual Items Excluding Goodwill | 334.44 |
| Minority Interests | -5.30 |
| Special Income Charges | 334.44 |
| Other Special Charges | 1.28 |
| Restructuring And Mergern Acquisition | - |
| Gain On Sale Of Security | - |
| Depreciation Amortization Depletion Income Statement | 913.38 |
| Depreciation And Amortization In Income Statement | 913.38 |
| General And Administrative Expense | 86.68 |
| Other Gand A | 86.68 |
| Gain On Sale Of Ppe | 335.71 |
| Otherunder Preferred Stock Dividend | 1.97 |
| Earnings From Equity Interest | 39.69 |
| Average Dilution Earnings | 7.27 |
| Depreciation Income Statement | 913.38 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| AvalonBay Communities, Inc.this co. | AVB | $26.8B | 25.53 | 2.31 | 9.1% | 16.22 |
| Extra Space Storage Inc. | EXR | $32.2B | 33.05 | 2.40 | 7.3% | 19.07 |
| VICI Properties Inc. | VICI | $29.3B | 10.56 | 1.05 | 10.0% | 12.66 |
| Equity Residential | EQR | $26.2B | 23.42 | 2.38 | 10.2% | 13.85 |
| SBA Communications Corporation | SBAC |
| - |
| - |
| - |
| - |
| - |
| - |
| $22.0B |
| 20.92 |
| -4.54 |
| -21.7% |
| 18.45 |
| Essex Property Trust, Inc. | ESS | $19.6B | 29.29 | 3.54 | 12.1% | 16.82 |
| Weyerhaeuser Company | WY | $17.8B | 54.97 | 1.89 | 3.4% | 22.02 |
| Invitation Homes Inc. | INVH | $17.5B | 29.84 | 1.84 | 6.2% | 15.24 |
| Host Hotels & Resorts, Inc. | HST | $17.0B | 22.17 | 2.59 | 11.7% | 11.82 |
| Peer Median | - | 26.36 | 2.13 | 8.6% | 16.03 | |