Saturday 17 October 2026 Export ESS’s income statement to Excel — free account

Essex Property Trust, Inc.

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.

269.43 0.23 −0.09%

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Market cap: $17.9B
P/E: 41.9×
Fwd P/E: 47.4×
Dividend yield: 3.84%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 0.17

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	1	—	—	—	—	—

Insider Ownership 0.80%

Capital & Financial Ratios $m

Market Cap 17,920.00

Revenue 1,926.73

Net Income 437.61

Free Cash Flow 728.45

Net Debt 6,632.16

Current Ratio 0.60

Debt/Equity 1.22

P/E ratio 41.90

Fwd P/E 47.40

P/S ratio 8.99

P/B ratio 3.16

Past 5Y EPS Growth 3.66%

This Y EPS Growth (46.47%)

Next Y EPS Growth 13.80%

Next Y revenue growth 3.69%

Next 5Y EPS Growth (13.08%)

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 57.10%

10-year low 10-year high

P/S against its own 10 years 13.23%

10-year low 10-year high

P/B against its own 10 years 75.30%

10-year low 10-year high

EV/Sales against its own 10 years 9.29%

10-year low 10-year high

EV/FCF against its own 10 years 26.10%

10-year low 10-year high

Dividends

Payout Ratio 1.61

Annual Dividend Rate 10.34

Annual Dividend Yield 3.84%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	10.34	2.57 2.59 2.59 2.59
2025	10.16	2.45 2.57 2.57 2.57
2024	7.35	2.45 2.45 2.45
2023	11.55	2.31 2.31 2.31 2.31 2.31
2022	8.80	2.20 2.20 2.20 2.20
2021	8.36	2.09 2.09 2.09 2.09
2020	8.31	2.08 2.08 2.08 2.08
2019	7.80	1.95 1.95 1.95 1.95
2018	7.44	1.86 1.86 1.86 1.86
2017	7.00	1.75 1.75 1.75 1.75
2016	6.40	1.60 1.60 1.60 1.60

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	400	76	86	66
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	575	283	227	163

	2023	2024	2025	Q'26
Payables	176	213	221	270
ST’ Debt	—	—	—	—
Other	—	—	—	—
	176	213	221	270

Compound Annual Growth %

	10y	5y	3y
Sales	4.68%	4.76%	5.51%
Cash Flow	5.68%	5.99%	3.27%
Earnings	11.43%	3.32%	17.93%
Book Value	(1.04%)	(1.58%)	(1.07%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	485	489	—	—	—
’25	465	470	473	480	1,887
’24	427	442	451	454	1,774
’23	412	416	419	422	1,669
’22	382	400	410	415	1,607
’21	355	351	363	372	1,441
’20	392	370	371	362	1,496

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	287	254	—	—	—
’25	282	216	343	234	1,074
’24	315	219	316	218	1,068
’23	277	211	288	204	980
’22	315	194	299	167	976
’21	195	233	272	205	905
’20	267	159	227	150	803

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	242	183	—	—	—
’25	14	151	296	8	469
’24	(80)	36	56	152	165
’23	330	131	234	138	834
’22	265	121	203	235	824
’21	392	158	177	90	817
’20	(253)	323	207	156	434

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.65	0.97	—	—	—
’25	3.16	3.44	2.56	1.25	10.40
’24	4.25	1.45	1.84	4.00	11.54
’23	2.38	1.55	1.36	1.02	6.32
’22	1.12	0.87	1.43	2.86	6.27
’21	2.59	1.00	1.82	2.10	7.51
’20	4.76	1.29	1.13	1.47	8.69

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	191.25	218.41	214.03	235.51	175.81	226.79	205.24	195.03	223.06	243.25	Analyst estimates 2026–2028 Powerpack
	High	240.55	270.04	267.41	334.17	329.74	357.90	363.36	252.85	317.73	316.29
People
People	Employees	1,799	1,835	1,826	1,822	1,799	1,757	1,772	1,750	1,715	1,689
	Revenue/emp, $m	0.72	0.74	0.77	0.80	0.83	0.82	0.91	0.95	1.03	1.12
Income, $m
Income, $m	Revenue	1,294	1,364	1,400	1,460	1,496	1,441	1,607	1,669	1,774	1,887
	Gross margin, %	69.94	70.27	70.26	70.51	68.25	66.58	68.39	68.17	68.00	67.78
	EBT	438	458	414	464	599	516	433	431	811	703
	EBT margin, %	33.88	33.58	29.54	31.81	40.07	35.80	26.95	25.80	45.72	37.24
	Net income	438	458	414	464	599	516	433	431	811	703
	Depreciation	412	448	460	461	513	530	546	555	588	615
Per share, $
Per share, $	Revenue	19.76	20.72	21.20	22.18	22.85	22.15	24.69	25.98	27.63	29.32
	Earnings	6.28	6.58	5.91	6.67	8.69	7.51	6.27	6.32	11.55	10.40
	Cash flow	10.95	11.69	12.52	13.96	12.27	13.92	14.99	15.25	16.63	16.69
	Capex	(4.59)	(5.39)	(0.08)	(6.70)	(5.64)	(1.36)	(2.33)	(2.28)	(14.06)	(9.41)
	Free cash flow	6.36	6.30	12.44	7.26	6.63	12.55	12.66	12.97	2.57	7.28
	Book value	96.11	97.17	96.82	97.26	94.47	94.95	90.58	87.06	89.06	88.67
	Shares, m	65	66	66	66	65	65	65	64	64	64
Valuation, ×
Valuation, ×	P/E	36.56	36.43	41.49	45.11	27.42	46.90	33.65	39.60	24.71	25.14
	P/S	11.60	11.59	11.57	13.57	10.39	15.91	8.56	9.62	10.33	8.93
	P/B	2.39	2.47	2.53	3.09	2.51	3.71	2.33	2.87	3.20	2.95
	EV/Sales	15.77	15.71	15.46	17.49	14.51	20.23	12.24	13.09	14.01	12.48
	EV/FCF	49.00	51.65	26.36	53.40	50.02	35.69	23.86	26.23	150.38	50.25
Cash, $m
Cash, $m	Operating cash flow	717	770	827	919	803	905	976	980	1,068	1,074
	Capex	(300)	(355)	(5)	(441)	(369)	(89)	(152)	(147)	(903)	(606)
	Free cash flow	416	415	821	478	434	817	824	834	165	469
Balance, $m
Balance, $m	Working capital	73	35	96	57	126	219	(20)	399	70	6
	Total debt	5,563	5,689	5,606	5,809	6,252	6,287	5,958	6,206	6,602	6,800
	Net debt	5,393	5,628	5,455	5,728	6,167	6,229	5,916	5,805	6,526	6,715
	Shareholders’ equity	6,292	6,397	6,394	6,404	6,183	6,177	5,895	5,594	5,720	5,709
Returns, %
Returns, %	ROA	3.39	3.50	3.14	3.50	4.44	3.77	3.22	3.28	5.86	5.13
	ROIC	2.25	2.32	2.70	2.48	2.49	2.67	3.15	3.20	3.59	4.52
	ROE	6.55	6.83	6.10	6.87	9.04	7.91	6.76	7.06	13.11	11.72

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
VMRK Vivmark Residential	$47.3B	26.5×	49.7×	+2.11% (above 0%: growing)	−41.18% (below 0%: shrinking)	+298.73% (above 0%: growing)	61.38%	25.75%	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%
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%	Compare
Median of peers	$14.0B	26.5×	45.5×	+2.43%	+13.04%	+5.44%	57.86%	25.56%

All 19 Reit Residential stocks →

Essex Property Trust, Inc. (ESS) key facts

Concern: Net income was $702.8 million, or $10.40 per share (basic), a net margin of 35.5%.
Strength: Essex Property Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 6.36% from fiscal 2024.
Essex Property Trust, Inc. (ESS) is a Reit Residential company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, ESS traded at $269.43, a market capitalization of $17.9 billion.
At that price the stock trades at 41.9× trailing-twelve-month earnings and 9.0× sales; its P/E is higher than 57% of its own readings over the past ten years.
Essex Property Trust, Inc. pays an annual dividend of $10.34 per share, a yield of 3.84%, with a payout ratio of 160.8%.
Return on equity was 11.7% and debt-to-equity 1.22.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.