UDR, Inc.

UDR

Real EstateLarge CapUS Equities · NYSE / NASDAQ

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Company Profile

UDR, Inc. is a S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of December 31, 2025, UDR owned or had an ownership position in 60,941 apartment homes, including 300 apartment homes under development. For over 53 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates. UDR, Inc. was incorporated in 1972 in Maryland, USA.

Valuation

Market Cap$14.4B

Current Price$38.09as of Jun 23, 2026

P/E Ratio38.16

P/B Ratio4.44

EV / EBITDA15.94

EV / Sales11.92

Profitability

Operating Margin18.8%

Net Profit Margin22.1%

EBITDA Margin74.8%

Returns

ROE11.6%

ROCE3.3%

ROIC %-

ROA3.6%

Solvency

Current Ratio0.20

Debt / Equity1.85

Debt / Assets0.57

CFO / Net Profit2.39

Price History▼ 7.97% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$1.7B▲ 2.4%

EBITDA$1.3B▲ 28.1%

Net Profit$378M▲ 321.6%

Cash from Ops (CFO)$903M▲ 3.0%

Free Cash Flow (FCF)$614M▲ 1.5%

Revenue CAGR 3Y4.1%

Revenue CAGR 5Y-

Net Profit CAGR 3Y63.2%

Net Profit CAGR 5Y-

Historical Growth

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	$1.7B	$1.3B	$378M	$614M	11.6%	2.4%	321.6%
2024	$1.7B	$1.0B	$90M	$605M	2.6%	2.7%	-79.8%
2023	$1.6B	$1.3B	$444M	$520M	11.3%	7.3%	411.2%
2022	$1.5B	$935M	$87M	$584M	2.1%	-	-
2021	-	-	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	1,517.39	1,627.50	1,671.84	1,712.32
Operating Revenue	-	1,517.39	1,627.50	1,671.84	1,712.32
Cost Of Revenue	-	1,186.35	1,234.98	1,254.84	1,248.19
Gross Profit	-	331.03	392.52	417.01	464.13
Operating Expense	-	95.98	105.57	134.13	141.75
Selling General And Administration	-	64.14	69.93	84.30	85.10
Total Expenses	-	1,282.33	1,340.55	1,388.96	1,389.94
Operating Income	-	235.05	286.95	282.88	322.38
Total Operating Income As Reported	-	250.81	635.01	284.57	553.61
EBITDA	-	935.33	1,349.30	1,000.28	1,281.20
Normalized EBITDA	-	919.57	1,001.24	998.59	1,049.97
EBIT	-	255.76	657.46	304.80	601.17
Interest Income	15.08	-	17.76	-	19.18
Interest Expense	-	162.83	180.87	208.05	196.62
Net Interest Income	-	-162.83	-163.11	-208.05	-177.44
Other Non Operating Income Expenses	-	-6.93	-	-	-
Other Income Expense	-	20.71	352.75	21.92	259.62
Interest Income Non Operating	15.08	-	17.76	-	19.18
Interest Expense Non Operating	-	162.83	180.87	208.05	196.62
Net Non Operating Interest Income Expense	-	-162.83	-163.11	-208.05	-177.44
Pretax Income	-	92.93	476.59	96.76	404.55
Tax Provision	-	0.35	2.11	0.88	0.84
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0.06	1.54	0.02	0.48
Net Income Continuous Operations	-	92.58	474.49	95.88	403.72
Net Income From Continuing And Discontinued Operation	-	86.92	444.35	89.58	377.70
Net Income From Continuing Operation Net Minority Interest	-	86.92	444.35	89.58	377.70
Net Income	-	86.92	444.35	89.58	377.70
Net Income Common Stockholders	-	82.51	439.50	84.75	372.86
Net Income Including Noncontrolling Interests	-	92.58	474.49	95.88	403.72
Normalized Income	-	71.22	97.84	87.91	146.95
Diluted NI Availto Com Stockholders	-	82.51	439.50	84.75	372.86
Basic Average Shares	-	321.67	328.76	329.29	330.32
Diluted Average Shares	-	322.70	329.10	330.12	331.05
Reconciled Depreciation	-	679.57	691.84	695.47	680.04
Reconciled Cost Of Revenue	-	521.12	558.56	578.77	594.07
Total Unusual Items	-	15.76	348.06	1.69	231.23
Total Unusual Items Excluding Goodwill	-	15.76	348.06	1.69	231.23
Preferred Stock Dividends	-	4.41	4.85	4.84	4.84
Minority Interests	-	-5.66	-30.14	-6.29	-26.01
Special Income Charges	-	-9.73	-3.14	-15.18	-11.68
Other Special Charges	-	9.73	3.14	15.18	11.68
Gain On Sale Of Security	-	25.49	351.19	16.87	242.91
Depreciation Amortization Depletion Income Statement	-	14.34	15.42	19.40	25.91
Depreciation And Amortization In Income Statement	-	14.34	15.42	19.40	25.91
General And Administrative Expense	-	64.14	69.93	84.30	85.10
Other Gand A	-	64.14	69.93	84.30	85.10
Rent Expense Supplemental	-	221.66	232.15	232.13	233.82
Other Operating Expenses	-	17.49	20.22	30.42	30.73
Earnings From Equity Interest	-	4.95	4.69	20.24	28.39

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
UDR, Inc.this co.	UDR	$14.4B	38.16↑ premium	4.44	11.6%	15.94
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
Mid-America Apartment Communities, Inc.	MAA	$16.3B	36.87	2.87	7.8%	17.12
Kimco Realty Corporation	KIM	$16.2B

Learn while you research

Hand-picked academy chapters to deepen your understanding of UDR, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$1.7B

$1.3B

$378M

$614M

11.6%

2.4%

321.6%

2024

$1.7B

$1.0B

$90M

$605M

2.6%

2.7%

-79.8%

2023

$1.6B

$1.3B

$444M

$520M

11.3%

7.3%

411.2%

2022

$1.5B

$935M

$87M

$584M

2.1%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

1,517.39

1,627.50

1,671.84

1,712.32

Operating Revenue

1,517.39

1,627.50

1,671.84

1,712.32

Cost Of Revenue

1,186.35

1,234.98

1,254.84

1,248.19

Gross Profit

331.03

392.52

417.01

464.13

Operating Expense

95.98

105.57

134.13

141.75

Selling General And Administration

64.14

69.93

84.30

85.10

Total Expenses

1,282.33

1,340.55

1,388.96

1,389.94

Operating Income

235.05

286.95

282.88

322.38

Total Operating Income As Reported

250.81

635.01

284.57

553.61

EBITDA

935.33

1,349.30

1,000.28

1,281.20

Normalized EBITDA

919.57

1,001.24

998.59

1,049.97

EBIT

255.76

657.46

304.80

601.17

Interest Income

15.08

17.76

19.18

Interest Expense

162.83

180.87

208.05

196.62

Net Interest Income

-162.83

-163.11

-208.05

-177.44

Other Non Operating Income Expenses

-6.93

Other Income Expense

20.71

352.75

21.92

259.62

Interest Income Non Operating

15.08

17.76

19.18

Interest Expense Non Operating

162.83

180.87

208.05

196.62

Net Non Operating Interest Income Expense

-162.83

-163.11

-208.05

-177.44

Pretax Income

92.93

476.59

96.76

404.55

Tax Provision

0.35

2.11

0.88

0.84

Tax Rate For Calcs

Tax Effect Of Unusual Items

0.06

1.54

0.02

0.48

Net Income Continuous Operations

92.58

474.49

95.88

403.72

Net Income From Continuing And Discontinued Operation

86.92

444.35

89.58

377.70

Net Income From Continuing Operation Net Minority Interest

86.92

444.35

89.58

377.70

Net Income

86.92

444.35

89.58

377.70

Net Income Common Stockholders

82.51

439.50

84.75

372.86

Net Income Including Noncontrolling Interests

92.58

474.49

95.88

403.72

Normalized Income

71.22

97.84

87.91

146.95

Diluted NI Availto Com Stockholders

82.51

439.50

84.75

372.86

Basic Average Shares

321.67

328.76

329.29

330.32

Diluted Average Shares

322.70

329.10

330.12

331.05

Reconciled Depreciation

679.57

691.84

695.47

680.04

Reconciled Cost Of Revenue

521.12

558.56

578.77

594.07

Total Unusual Items

15.76

348.06

1.69

231.23

Total Unusual Items Excluding Goodwill

15.76

348.06

1.69

231.23

Preferred Stock Dividends

4.41

4.85

4.84

Minority Interests

-5.66

-30.14

-6.29

-26.01

Special Income Charges

-9.73

-3.14

-15.18

-11.68

Other Special Charges

9.73

3.14

15.18

11.68

Gain On Sale Of Security

25.49

351.19

16.87

242.91

Depreciation Amortization Depletion Income Statement

14.34

15.42

19.40

25.91

Depreciation And Amortization In Income Statement

14.34

15.42

19.40

25.91

General And Administrative Expense

64.14

69.93

84.30

85.10

Other Gand A

64.14

69.93

84.30

85.10

Rent Expense Supplemental

221.66

232.15

232.13

233.82

Other Operating Expenses

17.49

20.22

30.42

30.73

Earnings From Equity Interest

4.95

4.69

20.24

28.39

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

UDR, Inc.this co.

UDR

$14.4B

38.16↑ premium

4.44

11.6%

15.94

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

Mid-America Apartment Communities, Inc.

MAA

$16.3B

36.87

2.87

7.8%

17.12

Kimco Realty Corporation

KIM

$16.2B

UDR, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

UDR, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on