EQR EQUITY RESIDENTIAL

Overview and Growth

Fiscal 2025 results for EQUITY RESIDENTIAL included net income of $1.12B. Diluted earnings per share were $2.94, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $2.72 in fiscal 2024, the current result was 8.1% higher. The diluted weighted-average share count was 390.41M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 0.1% from 390.74M in fiscal 2024, leaving the current share base lower year over year. At period end, total assets were $20.75B, framing the scale of the company’s operating and financing commitments.

Profitability

Net income came to $1.12B, completing the progression from revenue through gross and operating profitability to the final reported result. The reported income-tax provision was $1.58M, the amount recognized between pretax income and the final net-income result. The relationship between net income and period-end equity was 10.0%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 5.4%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $1.04B to $1.12B, with the current outcome ending above that comparison.

Liquidity and Capital Structure

At period end, the $20.75B asset base was financed through $9.34B of liabilities and $11.23B of equity. Cash and equivalents totaled $55.90M, identifying the most liquid reported component available within the broader current-asset balance. Total debt was $8.24B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.73x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 39.7%, showing how much of the asset base was matched by borrowing. The equity-to-assets relationship was 54.1%, placing book capital against the total resource base. The liabilities-to-assets relationship was 45.0%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.3% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 0.4% from $20.83B in fiscal 2024, leaving current total assets lower year over year. Against $11.25B of equity in fiscal 2024, the current book-equity balance moved 0.1% and ended lower. Cash and equivalents were 10.3% lower than fiscal 2024 cash of $62.30M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported $1.65B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.47x of net income, showing how strongly accounting earnings converted into cash from operations. Operating cash flow of $1.65B finished above fiscal 2024 operating cash flow of $1.57B, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.