Essex Property Trust, Inc.
ESS Real Estate Reit Residential
Essex Property Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 6.36% from fiscal 2024. In the quarter to June 2026, revenue grew 4.09%, EPS fell 71.8%, free cash flow grew 21.0% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for three, operating cash flow growth for five.
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Essex Property Trust, Inc. (ESS) Operating margin
Essex Property Trust, Inc.'s operating margin over the twelve months to 30 June 2026 was 32.6%, down 15.1 percentage points from fiscal 2025 (47.7%). Over the past ten years it has ranged from 27.7% (fiscal 2015) to 47.7% (fiscal 2025) — the current reading is the highest in ten years. That is above the Reit Residential industry median of 20.6% and above the Real Estate sector median of 18.8%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 47.7% | 8.03 |
| FY2024 | 39.6% | 4.62 |
| FY2023 | 35.0% | (2.04) |
| FY2022 | 37.0% | 0.25 |
| FY2021 | 36.8% | 3.93 |
| FY2020 | 32.9% | (0.09) |
| FY2019 | 33.0% | (3.62) |
| FY2018 | 36.6% | 3.83 |
| FY2017 | 32.7% | 0.22 |
| FY2016 | 32.5% | 4.79 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 22.4% | (9.65) |
| Mar 2026 | 32.0% | 0.29 |
| Dec 2025 | 31.7% | (12.73) |
| Sep 2025 | 44.5% | (15.08) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| VMRK Vivmark Residential compare | 40.9% |
| UDR United Dominion Realty Trust, Inc. compare | 40.8% |
| ELS Equity Lifestyle Properties, Inc. compare | 34.5% |
| ESS Essex Property Trust, Inc. | 32.6% |
| MAA Mid-America Apartment Communities, Inc. compare | 26.9% |
| INVH Invitation Home compare | 25.5% |
| AMH American Homes 4 Rent compare | 25.0% |
| SUI Sun Communities, Inc. compare | 20.6% |
| CPT Camden Property Trust compare | 17.9% |
| Reit Residential industry median | 20.6% |
| Real Estate sector median | 18.8% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on ESS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement