American Homes 4 Rent

AMH Real Estate Reit Residential

American Homes 4 Rent’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 7.03% from fiscal 2024. In the quarter to June 2026, revenue grew 2.75%, EPS grew 10.7%, free cash flow grew 24.8% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for ten; insiders bought in the last twelve months.

31.28 0.31 +1.00%
Market cap
$11.1B
P/E
24.8×
Fwd P/E
44.5×
Dividend yield
4.12%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total buys 1.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 1 — 4 2 — 2 — — 3 1 —
Sell — — — — — — — — — — — —
Insider Ownership 8.60%

Capital & Financial Ratios $m

Market Cap 11,140.00
Revenue 1,875.58
Net Income 542.82
Free Cash Flow 1,494.61
Net Debt 4,872.42
Current Ratio 0.59
Debt/Equity 0.69
P/E ratio 24.83
Fwd P/E 44.50 (above 35: high)
P/S ratio 6.01
P/B ratio 1.51
Past 5Y EPS Growth 33.34% (at or above 15%: strong)
This Y EPS Growth (14.23%) (below 0%: weak)
Next Y EPS Growth (21.01%) (below 0%: weak)
Next Y revenue growth 2.91%
Next 5Y EPS Growth (15.31%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 2.52%
10-year low 10-year high
P/S against its own 10 years 17.95%
10-year low 10-year high
P/B against its own 10 years 53.56%
10-year low 10-year high
EV/Sales against its own 10 years 16.70%
10-year low 10-year high
EV/FCF against its own 10 years 1.21%
10-year low 10-year high

Dividends

Payout Ratio 1.02
Annual Dividend Rate 1.29
Annual Dividend Yield 4.12%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.32
0.33
0.33
0.33
2025 1.20
0.30
0.30
0.30
0.30
2024 1.04
0.26
0.26
0.26
0.26
2023 0.88
0.22
0.22
0.22
0.22
2022 0.72
0.18
0.18
0.18
0.18
2021 0.40
0.10
0.10
0.10
0.10
2020 0.20
0.05
0.05
0.05
0.05
2019 0.20
0.05
0.05
0.05
0.05
2018 0.25
0.05
0.05
0.05
0.05
0.05
2017 0.20
0.05
0.05
0.05
0.05
2016 0.20
0.05
0.05
0.05
0.05
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 222 350 231 258
Receivables 43 48 43 45
Inventory — — — —
Other — — — —
265 399 274 303
2023 2024 2025 Q'26
Payables 574 522 437 512
ST’ Debt — — — —
Other — — — —
574 522 437 512

Compound Annual Growth %

10y 5y 3y
Sales 11.37% 9.55% 7.47%
Cash Flow 15.07% 12.76% 9.10%
Earnings 0.00% 38.79% 20.52%
Book Value 6.96% 3.56% 2.43%

Revenue $m

Mar Jun Sep Dec Year
’26 472 470 — — —
’25 459 458 478 455 1,850
’24 424 423 445 437 1,729
’23 398 396 422 409 1,624
’22 356 362 392 381 1,491
’21 313 314 340 338 1,304
’20 287 281 308 297 1,173
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 203 293 — — —
’25 223 272 223 146 864
’24 202 274 234 102 812
’23 200 215 208 115 739
’22 159 220 218 69 666
’21 152 180 166 97 595
’20 126 153 148 47 474
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 379 471 — — —
’25 331 378 322 323 1,353
’24 330 369 301 (232) 768
’23 350 307 241 164 1,062
’22 (101) 43 173 143 258
’21 82 (23) (199) (138) (277)
’20 82 136 (52) 164 329
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.35 0.31 — — —
’25 0.30 0.28 0.27 0.33 1.18
’24 0.30 0.25 0.20 0.33 1.08
’23 0.32 0.27 0.20 0.21 1.01
’22 0.16 0.16 0.14 0.25 0.71
’21 0.09 0.06 0.11 0.14 0.41
’20 0.07 0.05 0.07 0.09 0.28
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 13.16 20.10 18.39 19.33 17.50 28.63 29.31 28.79 33.75 30.11

Analyst estimates 2026–2028

Powerpack
High 22.99 23.98 23.34 27.14 32.04 44.07 43.89 37.97 41.41 39.49
People
People Employees 953 1,135 1,234 1,324 1,447 1,538 1,794 1,725 1,730 1,598
Revenue/emp, $m 0.92 0.85 0.87 0.86 0.81 0.85 0.83 0.94 1.00 1.16
Income, $m
Income, $m Revenue 879 960 1,073 1,132 1,173 1,304 1,491 1,624 1,729 1,850
Gross margin, % 55.85 55.77 54.56 54.00 53.93 54.98 55.40 55.48 56.31 56.83
EBT 10 76 112 156 155 211 310 432 468 513
EBT margin, % 1.19 7.96 10.48 13.80 13.20 16.15 20.80 26.62 27.08 27.75
Net income 10 76 112 156 155 211 310 432 468 513
Depreciation 314 309 329 337 351 382 438 469 488 514
Per share, $
Per share, $ Revenue 3.76 3.63 3.65 3.78 3.82 4.02 4.27 4.48 4.70 4.99
Earnings (0.14) (0.08) 0.08 0.29 0.28 0.42 0.72 1.01 1.08 1.18
Cash flow 1.19 1.46 1.40 1.53 1.55 1.84 1.91 2.04 2.21 2.33
Capex (0.87) (2.99) (1.50) (0.66) (0.47) (2.69) (1.17) 0.89 (0.12) 1.32
Free cash flow 0.32 (1.53) (0.10) 0.87 1.07 (0.85) 0.74 2.93 2.09 3.65
Book value 21.10 22.24 20.34 20.10 21.11 20.78 20.54 21.14 21.36 20.81
Shares, m 234 264 294 299 307 324 349 362 367 371
Valuation, ×
Valuation, × P/E 0.00 0.00 248.13 90.38 107.14 106.37 41.92 36.18 34.65 27.20
P/S 5.53 5.91 5.43 6.93 7.85 10.84 6.97 8.15 7.95 6.43
P/B 0.98 0.97 0.98 1.30 1.42 2.10 1.45 1.73 1.75 1.54
EV/Sales 8.57 8.30 7.88 9.29 10.02 13.67 9.86 10.76 10.65 9.06
EV/FCF 101.11 (19.72) (279.97) 40.48 35.76 (64.34) 56.91 16.45 23.98 12.39
Cash, $m
Cash, $m Operating cash flow 279 386 411 458 474 595 666 739 812 864
Capex (204) (790) (441) (198) (146) (872) (407) 323 (44) 489
Free cash flow 75 (404) (30) 260 329 (277) 258 1,062 768 1,353
Balance, $m
Balance, $m Working capital 91 (10) (15) (49) 8 (110) (219) (309) (123) (163)
Total debt 2,923 2,476 2,804 2,833 2,817 3,880 4,516 4,462 5,011 5,096
Net debt 2,672 2,293 2,628 2,669 2,552 3,689 4,298 4,240 4,661 4,865
Shareholders’ equity 4,938 5,876 5,974 6,019 6,472 6,738 7,175 7,653 7,849 7,710
Returns, %
Returns, % ROA (0.45) (0.26) 0.27 0.95 0.91 1.32 2.17 2.95 3.06 3.30
ROIC 1.11 1.42 1.58 1.70 1.60 1.63 1.64 1.85 1.96 2.25
ROE (0.76) (0.41) 0.40 1.43 1.36 2.05 3.61 4.94 5.14 5.64
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

American Homes 4 Rent vs peers in Reit Residential (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ESS Essex Property Trust, Inc. $17.9B 41.9× 47.4× +4.09% (above 0%: growing) −71.80% (below 0%: shrinking) +21.02% (above 0%: growing) 68.42% 22.36% Compare
UDR United Dominion Realty Trust, Inc. $17.9B 21.7× 46.5× 0.00% +90.91% (above 0%: growing) −27.77% (below 0%: shrinking) 62.41% 27.23% Compare
INVH Invitation Home $15.8B 24.8× 39.7× +9.71% (above 0%: growing) +60.87% (above 0%: growing) +41.97% (above 0%: growing) 55.10% 24.62% Compare
SUI Sun Communities, Inc. $14.1B — (loss-making) 54.0× +8.02% (above 0%: growing) n/m −12.76% (below 0%: shrinking) 55.40% 12.25% Compare
MAA Mid-America Apartment Communities, Inc. $13.8B 34.1× 40.5× +0.95% (above 0%: growing) +13.04% (above 0%: growing) −3.86% (below 0%: shrinking) 57.37% 25.36% Compare
CPT Camden Property Trust $13.3B 32.7× 102× −0.90% (below 0%: shrinking) −75.68% (below 0%: shrinking) −1,195.62% (below 0%: shrinking) 64.13% 12.20% Compare
ELS Equity Lifestyle Properties, Inc. $12.1B 29.4× 30.8× +5.56% (above 0%: growing) +19.05% (above 0%: growing) +14.74% (above 0%: growing) 51.52% 32.00% Compare
AMH American Homes 4 Rent $11.1B 24.8× 44.5× +2.75% (above 0%: growing) +10.71% (above 0%: growing) +24.76% (above 0%: growing) 58.35% 25.92%
IRT Independence Realty Trust, Inc. $3.6B 80.1× 120× +3.12% (above 0%: growing) −51.67% (below 0%: shrinking) −14.38% (below 0%: shrinking) 57.36% 15.51% Compare
Median of peers $14.0B 32.7× 47.0× +3.61% +13.04% −8.31% 57.37% 23.49%

All 19 Reit Residential stocks →

American Homes 4 Rent (AMH) key facts

  • Strength: American Homes 4 Rent’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 7.03% from fiscal 2024.
  • American Homes 4 Rent (AMH) is a Reit Residential company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, AMH traded at $31.28, a market capitalization of $11.1 billion.
  • American Homes 4 Rent pays an annual dividend of $1.29 per share, a yield of 4.12%, with a payout ratio of 102.4%.
  • Return on equity was 5.64% and debt-to-equity 0.69.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

American Homes 4 Rent (AMH) Latest News

7 May

Impact 4 · transcript

8 Jan

Impact 4 ·
stockrow.com/AMH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com