AvalonBay Communities, Inc. financials

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AVB CIK 0000915912

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T09:55:13Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 1.41B 1.41B 1.38B 1.26B 1.06B 1.11B
EBITDA 2.93B 2.76B 2.61B 2.52B 2.22B 2.18B
Net Debt 10.05B 8.14B 7.74B 7.87B 7.92B 7.59B
Operating Margin 28698.51% 26974.72% 23190.70% 26865.88% 47239.79% 38555.15%
Net Margin 15004.25% 15280.24% 12028.30% 17944.70% 32566.67% 21673.37%
Return on Equity (ROE) 9.10% 9.06% 7.88% 10.10% 9.19% 7.70%
Return on Assets (ROA) 4.76% 5.15% 4.49% 5.55% 5.05% 4.31%
Debt-to-Equity 0.8814 0.6909 0.6904 0.7534 0.7626 0.7265
Effective Tax Rate -0.11% 0.04% 1.08% 1.27% 0.57% -0.39%
Cash Conversion Ratio 1.5816 1.486 1.6796 1.2512 1.198 1.4735
Accruals Ratio -0.0277 -0.025 -0.0305 -0.014 -0.01 -0.0204
SBC % of Revenue 375.72% 358.33% 351.49% 534.72% 827.01% 565.67%
CapEx Coverage 6.3839 8.316 8.7489 8.8697 8.4322 11.2375
Free Cash Flow Per Share $9.87 $9.93 $9.75 $9.01 $7.59 $7.91

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 24.5014 28.9434 28.5396 19.8916 35.1307 27.2377
P/FCF 18.3745 22.1534 19.1924 17.9204 33.2784 20.2776
FCF Yield 5.44% 4.51% 5.21% 5.58% 3.00% 4.93%
EV / EBITDA 12.0793 14.3034 13.1635 12.1066 19.5067 13.7532
P/S 3,606.6492 4,419.0958 3,443.4092 3,568.5098 — 5,861.289
P/B 2.1873 2.6205 2.2566 2.0082 3.2289 2.082

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 7.04M 7.08M 7.72M 6.33M 3.08M 3.82M
Revenues 3.04B 2.91B 2.77B 2.59B 2.29B 2.30B
Operating Income (Loss) 2.02B 1.91B 1.79B 1.70B 1.46B 1.47B
Income Tax Expense (Benefit) -1.14M 445.00K 10.15M 14.65M 5.73M -3.25M
Net Income (Loss) Attributable to Parent — 1.08B 928.83M — — —
Earnings Per Share, Basic $7.40 $7.61 $6.56 $8.13 $7.19 $5.89
Weighted Average Number of Shares Outstanding, Basic 141.74M 142.00M 141.31M 139.63M 139.39M 140.09M
Earnings Per Share, Diluted $7.40 $7.60 $6.56 $8.12 $7.19 $5.89
Weighted Average Number of Shares Outstanding, Diluted 142.83M 142.46M 141.64M 139.98M 139.72M 140.44M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 187.23M 108.58M 397.89M 613.19M 420.25M 216.98M
Assets 22.19B 21.00B 20.68B 20.46B 19.90B 19.20B
Long-term Debt 9.33B 8.08B 7.98B 8.32B 8.10B 7.63B
Liabilities 10.36B 9.06B 8.89B 9.20B 8.97B 8.44B
Stockholders' Equity Attributable to Parent 11.61B 11.94B 11.78B 11.25B 10.93B 10.75B
Common Stock, Shares, Outstanding 140.08M 142.25M 142.03M 139.92M 139.75M 139.53M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 1.67B 1.61B 1.56B 1.42B 1.20B 1.22B
Net Cash Provided by (Used in) Investing Activities -1.39B -996.86M -928.96M -560.42M -624.05M -179.43M
Payments for Repurchase of Common Stock 488.12M 0 1.91M 0 0 183.88M
Net Cash Provided by (Used in) Financing Activities -192.73M -874.90M -834.36M -671.06M -348.86M -854.26M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

Income Statement

29 concepts 3 units
Unit US$ · 23 concepts
Label Value Period
Revenue from Contract with Customer, Excluding Assessed Tax 7.04M 2025-01-01 → 2025-12-31
Interest Expense 259.18M 2025-01-01 → 2025-12-31
Operating Lease, Lease Income 3.03B 2025-01-01 → 2025-12-31
Revenues 3.04B 2025-01-01 → 2025-12-31
Cost of Other Property Operating Expense 778.17M 2025-01-01 → 2025-12-31
Costs and Expenses 2.39B 2025-01-01 → 2025-12-31
Impairment of Long-Lived Assets Held-for-use 0 2025-01-01 → 2025-12-31
Impairment of Real Estate 1.28M 2025-01-01 → 2025-12-31
Operating Lease, Expense 14.83M 2025-01-01 → 2025-12-31
Real Estate Tax Expense 342.74M 2025-01-01 → 2025-12-31
General and Administrative Expense 86.68M 2025-01-01 → 2025-12-31
Accounts Receivable, Credit Loss Expense (Reversal) 47.24M 2025-01-01 → 2025-12-31
Gain (Loss) on Disposition of Other Assets 4.13M 2025-01-01 → 2025-12-31
Operating Income (Loss) 2.02B 2025-01-01 → 2025-12-31
Other Nonoperating Income (Expense) -10.85M 2025-01-01 → 2025-12-31
Gain (Loss) on Extinguishment of Debt 0 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1.06B 2025-01-01 → 2025-12-31
Income Tax Expense (Benefit) -1.14M 2025-01-01 → 2025-12-31
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 1.06B 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest 1.06B 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Noncontrolling Interest 5.30M 2025-01-01 → 2025-12-31
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic 1.97M 2025-01-01 → 2025-12-31
Net Income (Loss) Available to Common Stockholders, Basic 1.05B 2025-01-01 → 2025-12-31
Unit shares · 3 concepts
Label Value Period
Weighted Average Number of Shares Outstanding, Basic 141.74M 2025-01-01 → 2025-12-31
Weighted Average Number of Shares Outstanding, Diluted 142.83M 2025-01-01 → 2025-12-31
Weighted Average Number Diluted Shares Outstanding Adjustment 1.09M 2025-01-01 → 2025-12-31
Unit US$ / share · 3 concepts
Label Value Period
Earnings Per Share, Basic $7.40 2025-01-01 → 2025-12-31
Earnings Per Share, Diluted $7.40 2025-01-01 → 2025-12-31
Common Stock, Dividends, Per Share, Declared $7.00 2025-01-01 → 2025-12-31

Comprehensive Income

3 concepts 1 unit

Balance Sheet

47 concepts 3 units
Unit US$ · 38 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 187.23M as of 2025-12-31
Investment Building and Building Improvements 21.25B as of 2025-12-31
Restricted Cash and Cash Equivalents 165.85M as of 2025-12-31
Land Available for Development 123.75M as of 2025-12-31
Real Estate Investment Property, at Cost 27.76B as of 2025-12-31
Real Estate Investment Property, Accumulated Depreciation 8.69B as of 2025-12-31
Real Estate Investment Property, Net 20.81B as of 2025-12-31
Fixtures and Equipment, Gross 1.55B as of 2025-12-31
Other Deferred Costs, Net 73.24M as of 2025-12-31
Disposal Group, Including Discontinued Operation, Assets, Current 150.26M as of 2025-12-31
Operating Lease, Right-of-Use Asset 119.89M as of 2025-12-31
Finance Lease, Right-of-Use Asset, after Accumulated Amortization 27.65M as of 2025-12-31
Land and Land Improvements 4.96B as of 2025-12-31
Construction in Progress, Gross 1.46B as of 2025-12-31
Prepaid Expense and Other Assets 618.60M as of 2025-12-31
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 193.44M as of 2025-12-31
Security Deposit Liability 60.69M as of 2025-12-31
Interest Payable 68.59M as of 2025-12-31
Dividends Payable 250.55M as of 2025-12-31
Accrued Liabilities 391.97M as of 2025-12-31
Operating Lease, Liability 145.32M as of 2025-12-31
Secured Debt 709.56M as of 2025-12-31
Assets 22.19B as of 2025-12-31
Unsecured Debt 7.88B as of 2025-12-31
Long-term Line of Credit 0 as of 2025-12-31
Commercial Paper 740.00M as of 2025-12-31
Long-term Debt 9.33B as of 2025-12-31
Finance Lease, Liability 19.88M as of 2025-12-31
Liabilities 10.36B as of 2025-12-31
Preferred Stock, Value, Issued 0 as of 2025-12-31
Common Stock, Value, Issued 1.40M as of 2025-12-31
Additional Paid in Capital 11.21B as of 2025-12-31
Accumulated Other Comprehensive Income (Loss), Net of Tax 26.49M as of 2025-12-31
Retained Earnings (Accumulated Deficit) 371.16M as of 2025-12-31
Stockholders' Equity Attributable to Parent 11.61B as of 2025-12-31
Stockholders' Equity Attributable to Noncontrolling Interest 222.98M as of 2025-12-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 11.83B as of 2025-12-31
Liabilities and Equity 22.19B as of 2025-12-31
Unit shares · 6 concepts
Label Value Period
Preferred Stock, Shares Authorized 50.00M as of 2025-12-31
Preferred Stock, Shares Issued 0 as of 2025-12-31
Preferred Stock, Shares Outstanding 0 as of 2025-12-31
Common Stock, Shares Authorized 280.00M as of 2025-12-31
Common Stock, Shares, Issued 140.08M as of 2025-12-31
Common Stock, Shares, Outstanding 140.08M as of 2025-12-31
Unit US$ / share · 3 concepts
Label Value Period
Preferred Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31
Preferred Stock, Liquidation Preference Per Share $25.00 as of 2025-12-31
Common Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31

Cash Flow Statement

32 concepts 1 unit
Unit US$ · 32 concepts
Label Value Period
Gain (Loss) on Sale of Properties 339.95M 2025-01-01 → 2025-12-31
Gains (Losses) on Sales of Investment Real Estate 335.71M 2025-01-01 → 2025-12-31
Depreciation 913.38M 2025-01-01 → 2025-12-31
Amortization of Debt Issuance Costs and Discounts 13.69M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Noncash Expense 26.46M 2025-01-01 → 2025-12-31
Noncash Project Abandonment Costs 10.85M 2025-01-01 → 2025-12-31
Interest Paid, Excluding Capitalized Interest, Operating Activities 236.55M 2025-01-01 → 2025-12-31
Increase (Decrease) in Accrued Interest Receivable, Net 26.12M 2025-01-01 → 2025-12-31
Increase (Decrease) in Prepaid Expense and Other Assets 3.18M 2025-01-01 → 2025-12-31
Payments to Acquire Other Real Estate 682.16M 2025-01-01 → 2025-12-31
Payments to Develop Real Estate Assets 1.21B 2025-01-01 → 2025-12-31
Increase (Decrease) in Accrued Liabilities 43.03M 2025-01-01 → 2025-12-31
Payments to Acquire Mortgage Notes Receivable 24.08M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Operating Activities 1.67B 2025-01-01 → 2025-12-31
Payments for Capital Improvements 261.77M 2025-01-01 → 2025-12-31
Proceeds from Sale of Real Estate Held-for-investment 799.42M 2025-01-01 → 2025-12-31
Proceeds from Sale and Collection of Notes Receivable 15.05M 2025-01-01 → 2025-12-31
ProceedsFromSaleOfEquitySecuritiesFvNi 7.50M 2025-01-01 → 2025-12-31
Payments to Acquire Businesses and Interest in Affiliates 40.01M 2025-01-01 → 2025-12-31
Proceeds from Unsecured Notes Payable 1.35B 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Investing Activities -1.39B 2025-01-01 → 2025-12-31
Repayments of Notes Payable 11.46M 2025-01-01 → 2025-12-31
Repayments of Unsecured Debt 825.00M 2025-01-01 → 2025-12-31
Payments of Financing Costs 23.15M 2025-01-01 → 2025-12-31
Payments for (Proceeds from) Hedge, Financing Activities -4.34M 2025-01-01 → 2025-12-31
Proceeds from Issuance of Common Stock 86.64M 2025-01-01 → 2025-12-31
Payments for Repurchase of Common Stock 488.12M 2025-01-01 → 2025-12-31
Payments of Ordinary Dividends 992.33M 2025-01-01 → 2025-12-31
Payment, Tax Withholding, Share-based Payment Arrangement 16.71M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Financing Activities -192.73M 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 86.01M 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 353.08M as of 2025-12-31

Stockholders' Equity

1 concepts 1 unit
Unit US$ · 1 concept
Label Value Period
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders 4.97M 2025-01-01 → 2025-12-31

Notes

57 concepts 7 units
Unit US$ · 46 concepts
Label Value Period
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross 29.64B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation 8.83B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Depreciation Expense 913.38M 2025-01-01 → 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold 266.57M 2025-01-01 → 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Federal Income Tax Basis 28.05B as of 2025-12-31
Share-based Payment Arrangement, Amount Capitalized 11.46M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Expense 26.61M 2025-01-01 → 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances 8.10B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land 5.13B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Building and Improvements 21.57B as of 2025-12-31
Undistributed Earnings, Basic 1.05B 2025-01-01 → 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Cost 2.94B as of 2025-12-31
Construction Payable 92.27M as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Land, Amount 5.13B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount 24.51B as of 2025-12-31
Noncontrolling Interest, Period Increase (Decrease) 222.65M 2025-01-01 → 2025-12-31
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities 5.30M 2025-01-01 → 2025-12-31
Dividends, Common Stock 993.68M 2025-01-01 → 2025-12-31
Net Income (Loss) Available to Common Stockholders, Diluted 1.06B 2025-01-01 → 2025-12-31
Derivative, Notional Amount 550.00M as of 2025-12-31
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 16.68M 2025-01-01 → 2025-12-31
Stock Issued During Period, Value, New Issues 70.55M 2025-01-01 → 2025-12-31
Stock Issued During Period, Value, Dividend Reinvestment Plan 749.00K 2025-01-01 → 2025-12-31
Finance Lease, Liability, to be Paid, Year One 1.09M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Two 1.09M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Three 1.10M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Four 1.10M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Five 1.10M as of 2025-12-31
Finance Lease, Liability, to be Paid, after Year Five 33.56M as of 2025-12-31
Finance Lease, Liability, Payment, Due 39.04M as of 2025-12-31
Finance Lease, Liability, Undiscounted Excess Amount 19.16M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year One 15.65M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Two 15.73M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Three 14.84M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Four 13.89M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Five 12.74M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, after Year Five 392.36M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid 465.22M as of 2025-12-31
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 319.90M as of 2025-12-31
Long-term Debt, Gross 9.39B as of 2025-12-31
Other Commitment 239.59M as of 2025-12-31
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 59.60M as of 2025-12-31
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net 1.29M 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits 0 as of 2025-12-31
Interest Costs Capitalized 50.12M 2025-01-01 → 2025-12-31
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 38.01M 2025-01-01 → 2025-12-31
Unit shares · 3 concepts
Label Value Period
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 8,759 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation 74,517 2025-01-01 → 2025-12-31
Stock Issued During Period, Shares, Dividend Reinvestment Plan 3,761 2025-01-01 → 2025-12-31
Unit US$ / share · 1 concept
Label Value Period
Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share $226.52 2025-01-01 → 2025-12-31
Unit pure · 4 concepts
Label Value Period
Finance Lease, Weighted Average Discount Rate, Percent 0.0463 as of 2025-12-31
Operating Lease, Weighted Average Discount Rate, Percent 0.052 as of 2025-12-31
Debt, Weighted Average Interest Rate 0.037 as of 2025-12-31
Debt Instrument, Redemption Price, Percentage 1 2025-01-01 → 2025-12-31
Unit community · 1 concept
Label Value Period
Number of Real Estate Properties 320 as of 2025-12-31
Unit home · 1 concept
Label Value Period
Number of Units in Real Estate Property 98,694 as of 2025-12-31
Unit state · 1 concept
Label Value Period
Number of States in which Entity Operates 11 as of 2025-12-31

Other

3 concepts 2 units
Unit US$ · 2 concepts
Label Value Period
Shares Issued, Value, Share-based Payment Arrangement, Forfeited 614.00K 2025-01-01 → 2025-12-31
Stock Repurchased and Retired During Period, Value 488.12M 2025-01-01 → 2025-12-31
Unit shares · 1 concept
Label Value Period
Stock Issued During Period, Shares, Employee Stock Purchase Plans 20,094 2025-01-01 → 2025-12-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (AVB CIK 0000915912), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.