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Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust. The firm acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 259 apartment communities comprising over 63,000 apartment homes with an additional property in active development. Essex Property Trust, Inc. was incorporated in 1971 in Maryland, USA.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $1.6B | $670M | $934M | 12.1% | 6.4% | -9.7% |
| 2024 | $1.8B | $1.6B | $742M | $932M | 13.4% | 6.3% | 82.7% |
| 2023 | $1.7B | $1.2B | $406M | $840M | 7.5% | 3.9% | -0.6% |
| 2022 | $1.6B | $1.2B | $408M | $812M | 7.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,606.81 | 1,669.40 | 1,774.45 | 1,887.34 |
| Cost Of Revenue | - | 507.97 | 531.35 | 566.82 | 608.04 |
| Gross Profit | - | 1,098.84 | 1,138.04 | 1,207.64 | 1,279.31 |
| Operating Expense | - | 585.66 | 611.91 | 679.12 | 677.39 |
| Operating Income | - | 513.18 | 525.43 | 528.51 | 601.91 |
| EBITDA | - | 1,196.14 | 1,192.05 | 1,627.06 | 1,568.72 |
| EBIT | - | 656.82 | 643.61 | 1,046.84 | 961.18 |
| Pretax Income | - | 432.98 | 430.71 | 811.31 | 702.77 |
| Tax Provision | 15.67 | -10.24 | - | - | - |
| Net Income | - | 408.32 | 405.82 | 741.52 | 669.67 |
| Net Income Common Stockholders | - | 408.32 | 405.82 | 741.52 | 669.67 |
| Total Expenses | - | 1,093.63 | 1,143.96 | 1,245.94 | 1,285.43 |
| Interest Expense | - | 223.84 | 212.90 | 235.53 | 258.40 |
| Interest Income | 98.74 | - | 46.26 | 80.95 | 20 |
| Selling General And Administration | - | 56.58 | 63.47 | 98.90 | 71.95 |
| Normalized EBITDA | - | 1,052.50 | 1,120.13 | 1,189.68 | 1,229.46 |
| Normalized Income | - | 294.84 | 349.01 | 396 | 401.65 |
| Market Cap | 16,465.52 | 16,465.52 | 16,465.52 | 16,465.52 | 16,465.52 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Essex Property Trust, Inc.this co. | ESS | $16.4B | 24.59↓ discount | 2.97 | 12.1% | 14.82 |
| Weyerhaeuser Company | WY | $18.0B | 55.70 | 1.91 | 3.4% | 22.25 |
| Kimco Realty Corporation | KIM | $16.9B | 27.32 | 1.54 | 5.6% | 16.59 |
| Regency Centers Corporation | REG | $15.0B | 28.42 | 2.24 | 7.9% | 17.55 |
| Mid-America Apartment Communities, Inc. | MAA |
| - |
| - |
| - |
| - |
| - |
| - |
| $14.8B |
| 32.71 |
| 2.57 |
| 7.9% |
| 15.77 |
| Host Hotels & Resorts, Inc. | HST | $14.4B | 18.78 | 2.19 | 11.7% | 10.41 |
| CoStar Group, Inc. | CSGP | $12.7B | 2206.30 | 1.85 | 0.1% | 78.51 |
| Healthpeak Properties, Inc. | DOC | $11.7B | 160.11 | 1.52 | 1.0% | 12.80 |
| UDR, Inc. | UDR | $11.6B | 34.66 | 4.03 | 11.6% | 14.90 |
| Peer Median | - | 33.69 | 2.05 | 6.7% | 16.18 | |