Equity Residential (EQR) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Equity Residential reported revenue of $3.09B, up 3.8% from $2.98B the year before. Net income was $1.12B (a 36.2% net margin), or $2.94 per diluted share. Gross margin was 28.1% and operating margin was -4.7%. Operating activities generated $1.65B of cash. At fiscal year end, Equity Residential held $20.75B in total assets against $9.34B in total liabilities, including $55.9M of cash and equivalents.
Open the full interactive Equity Residential financials → Quarterly statements, key ratios, valuation history and price charts.
Equity Residential Key Stats
| Share Price | $61.20 |
|---|---|
| Market Cap | $23.49B |
| P/E Ratio | 20.8 |
| Revenue YoY Growth | +3.8% |
| 52-Week Range | $56.03 – $69.33 |
| Shares Outstanding | 374.2 million (basic, 2026 Q2) |
Equity Residential Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.57B | $2.46B | $2.74B | $2.87B | $2.98B | $3.09B |
| Cost of Goods Sold | $1.79B | $1.84B | $1.92B | $2.00B | $2.11B | $2.22B |
| Gross Profit | $786.2M | $620.4M | $811.7M | $878.0M | $871.7M | $869.8M |
| Operating Income | $1.32B | $1.68B | $1.12B | $1.16B | -$90.1M | -$145.4M |
| Pre-Tax Income | $932.4M | $1.40B | $812.9M | $875.0M | $1.08B | $1.17B |
| Income Tax | $852,000 | $915,000 | $900,000 | $1.1M | $1.3M | $1.6M |
| Net Income | $913.6M | $1.33B | $776.9M | $835.4M | $1.04B | $1.12B |
| Diluted EPS | $2.45 | $3.54 | $2.05 | $2.20 | $2.72 | $2.94 |
Equity Residential Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $782.4M | $781.9M | $779.8M | $785.0M |
| Net Income | $289.1M | $382.1M | $90.1M | $114.1M |
| Diluted EPS | $0.76 | $0.98 | $0.24 | $0.30 |
Equity Residential Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $42.6M | $123.8M | $53.9M | $50.7M | $62.3M | $55.9M |
| Total Assets | $20.29B | $21.17B | $20.22B | $20.03B | $20.83B | $20.75B |
| Total Long-Term Debt | $8.13B | $8.42B | $7.49B | $7.46B | $8.19B | $8.24B |
| Total Liabilities | $9.18B | $9.48B | $8.52B | $8.46B | $9.25B | $9.34B |
| Shareholders' Equity | $10.53B | $10.95B | $11.17B | $11.09B | $11.04B | $11.04B |
Equity Residential Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.27B | $1.26B | $1.45B | $1.53B | $1.57B | $1.65B |
| Cash From Investing | $663.6M | -$434.6M | $107.8M | -$409.5M | -$1.18B | -$321.4M |
| Cash From Financing | -$1.95B | -$565.1M | -$1.79B | -$1.12B | -$377.0M | -$1.33B |
Figures from Equity Residential's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Equity Residential financials page for every line item.
Equity Residential Company Profile
| Ticker | EQR |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | Chicago, Illinois |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000906107 |
Frequently Asked Questions
What was Equity Residential's revenue in fiscal 2025?
Equity Residential (EQR) reported revenue of $3.09B for fiscal 2025.
What is Equity Residential's annual revenue history?
Equity Residential's annual revenue by fiscal year: 2020: $2.57B; 2021: $2.46B; 2022: $2.74B; 2023: $2.87B; 2024: $2.98B; 2025: $3.09B.
What was Equity Residential's net income in fiscal 2025?
Equity Residential reported net income of $1.12B for fiscal 2025.
What was Equity Residential's earnings per share (EPS) in fiscal 2025?
Equity Residential's diluted EPS was $2.94 for fiscal 2025 (adjusted for any later stock splits).
What was Equity Residential's revenue last quarter?
In its most recent reported quarter (2026 Q2), Equity Residential reported revenue of $785.0M.
How much debt does Equity Residential have?
Equity Residential reported $8.24B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Equity Residential are outstanding?
Equity Residential reported a weighted average of 374.2 million basic shares outstanding in 2026 Q2.
What is Equity Residential's market cap?
Based on its latest closing price, Equity Residential (EQR) has a market capitalization of about $23.49B.
When does Equity Residential's fiscal year end?
Equity Residential's fiscal year end, as registered with the SEC, is December 31.
Where is Equity Residential headquartered?
Equity Residential lists its business address in Chicago, Illinois in its SEC filings.