EQUITY RESIDENTIAL financials

EQR CIK 0000906107

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T10:02:21Z

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
EBITDA 2.05B 2.00B 2.51B 2.14B
Net Debt 9.08B 8.98B 8.14B 9.25B 9.61B 8.83B
Return on Equity (ROE) 10.14% 9.38% 7.54% 6.95% 12.17% 8.68%
Return on Assets (ROA) 5.40% 4.97% 4.17% 3.84% 6.30% 4.50%
Debt-to-Equity 0.8272 0.8187 0.7384 0.8326 0.8885 0.8428
Effective Tax Rate 0.14% 0.12% 0.13% 0.11% 0.07% 0.09%
Cash Conversion Ratio 1.472 1.5192 1.8347 1.8725 0.9455 1.3852
Accruals Ratio -0.0255 -0.0258 -0.0348 -0.0335 0.0034 -0.0173

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 21.4422 26.3824 27.8 28.7805 25.565 24.1959
EV / EBITDA 15.2897 15.8024 17.3401 14.4465
P/B 2.157 2.4656 2.0925 1.9983 3.1023 2.0968

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Expenses 1.02B 961.83M 926.69M 872.28M 850.64M
Operating Income (Loss) 1.16B 1.12B 1.68B 1.32B
Income Tax Expense (Benefit) 1.58M 1.26M 1.15M 900.00K 915.00K 852.00K
Net Income (Loss) Attributable to Parent 1.12B 1.04B 835.44M 776.91M 1.33B 913.64M
Earnings Per Share, Basic $2.95 $2.73 $2.20 $2.06 $3.56 $2.45
Weighted Average Number of Shares Outstanding, Basic 379.61M 378.80M 378.77M 376.21M 373.83M 371.79M
Earnings Per Share, Diluted $2.94 $2.72 $2.20 $2.05 $3.54 $2.45
Weighted Average Number of Shares Outstanding, Diluted 390.41M 390.74M 390.90M 389.45M 388.09M 385.87M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 55.90M 62.30M 50.74M 53.87M 123.83M 42.59M
Assets 20.75B 20.83B 20.03B 20.22B 21.17B 20.29B
Long-term Debt 8.24B 8.19B 7.46B 7.49B 8.42B 8.13B
Liabilities 9.34B 9.25B 8.46B 8.52B 9.48B 9.18B
Stockholders' Equity Attributable to Parent 11.04B 11.04B 11.09B 11.17B 10.95B 10.53B
Common Stock, Shares, Outstanding 377.81M 379.48M 379.29M 378.43M 375.53M 372.30M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 1.65B 1.57B 1.53B 1.45B 1.26B 1.27B
Net Cash Provided by (Used in) Investing Activities -321.36M -1.18B -409.50M 107.79M -434.62M 663.59M
Payments for Repurchase of Common Stock 280.72M 38.47M 49.10M
Net Cash Provided by (Used in) Financing Activities -1.33B -376.95M -1.12B -1.79B -565.06M -1.95B

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

27 concepts 3 units
Unit US$ · 22 concepts
Label Value Period
Operating Lease, Lease Income 3.09B 2025-01-01 → 2025-12-31
Amortization of Debt Issuance Costs 8.77M 2025-01-01 → 2025-12-31
Cost of Property Repairs and Maintenance 564.70M 2025-01-01 → 2025-12-31
Costs and Expenses 2.22B 2025-01-01 → 2025-12-31
Finance Lease, Right-of-Use Asset, Amortization 2.01M 2025-01-01 → 2025-12-31
Amortization of Deferred Hedge Gains 1.50M 2025-01-01 → 2025-12-31
Operating Costs and Expenses 1.90M 2025-01-01 → 2025-12-31
General and Administrative Expense 65.28M 2025-01-01 → 2025-12-31
Operating Expenses 1.02B 2025-01-01 → 2025-12-31
Other Nonoperating Expense 60.48M 2025-01-01 → 2025-12-31
Interest Expense, Debt 306.80M 2025-01-01 → 2025-12-31
Finance Lease, Interest Expense 1.83M 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 1.17B 2025-01-01 → 2025-12-31
Income (Loss) from Equity Method Investments -18.91M 2025-01-01 → 2025-12-31
Income Tax Expense (Benefit) 1.58M 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 1.15B 2025-01-01 → 2025-12-31
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 1.15B 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Noncontrolling Interest 27.41M 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Parent 1.12B 2025-01-01 → 2025-12-31
Preferred Stock Dividends, Income Statement Impact 1.42M 2025-01-01 → 2025-12-31
Net Income (Loss) Available to Common Stockholders, Basic 1.12B 2025-01-01 → 2025-12-31
Income (Loss) Attributable to Noncontrolling Interest, before Tax 27.41M 2025-01-01 → 2025-12-31
Unit shares · 2 concepts
Label Value Period
Weighted Average Number of Shares Outstanding, Basic 379.61M 2025-01-01 → 2025-12-31
Weighted Average Number of Shares Outstanding, Diluted 390.41M 2025-01-01 → 2025-12-31
Unit US$ / share · 3 concepts
Label Value Period
Earnings Per Share, Basic $2.95 2025-01-01 → 2025-12-31
Earnings Per Share, Diluted $2.94 2025-01-01 → 2025-12-31
Common Stock, Dividends, Per Share, Declared $2.77 2025-01-01 → 2025-12-31

Balance Sheet

48 concepts 3 units
Unit US$ · 40 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 55.90M as of 2025-12-31
Investment Building and Building Improvements 21.06B as of 2025-12-31
Development in Process 100.56M as of 2025-12-31
Restricted Cash 69.61M as of 2025-12-31
Restricted Cash and Cash Equivalents 102.95M as of 2025-12-31
Land Available for Development 86.34M as of 2025-12-31
Real Estate Investment Property, at Cost 30.46B as of 2025-12-31
Real Estate Investment Property, Accumulated Depreciation 11.02B as of 2025-12-31
Real Estate Investment Property, Net 19.44B as of 2025-12-31
Real Estate Investments, Net 49.60M as of 2025-12-31
Replacement Reserve Escrow 12.80M as of 2025-12-31
Fixtures and Equipment, Gross 3.07B as of 2025-12-31
Operating Lease, Right-of-Use Asset 364.31M as of 2025-12-31
Finance Lease, Right-of-Use Asset, after Accumulated Amortization 90.61M as of 2025-12-31
Land 5.56B as of 2025-12-31
Other Assets 367.37M as of 2025-12-31
Equity Method Investments 325.94M as of 2025-12-31
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 325.94M as of 2025-12-31
Security Deposit Liability 82.16M as of 2025-12-31
Interest Payable 73.86M as of 2025-12-31
Dividends Payable 267.51M as of 2025-12-31
Operating Lease, Liability 238.56M as of 2025-12-31
Secured Debt 1.59B as of 2025-12-31
Assets 20.75B as of 2025-12-31
Notes Payable 6.00B as of 2025-12-31
Commercial Paper 587.40M as of 2025-12-31
Long-term Debt 8.24B as of 2025-12-31
Finance Lease, Liability 66.02M as of 2025-12-31
Other Liabilities 324.62M as of 2025-12-31
Liabilities 9.34B as of 2025-12-31
Redeemable Noncontrolling Interest, Equity, Carrying Amount 176.29M as of 2025-12-31
Preferred Stock, Value, Issued 17.16M as of 2025-12-31
Common Stock, Value, Issued 3.78M as of 2025-12-31
Additional Paid in Capital 9.82B as of 2025-12-31
Accumulated Other Comprehensive Income (Loss), Net of Tax 2.17M as of 2025-12-31
Retained Earnings (Accumulated Deficit) 1.19B as of 2025-12-31
Stockholders' Equity Attributable to Parent 11.04B as of 2025-12-31
Stockholders' Equity Attributable to Noncontrolling Interest 191.35M as of 2025-12-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 11.23B as of 2025-12-31
Liabilities and Equity 20.75B as of 2025-12-31
Unit shares · 6 concepts
Label Value Period
Preferred Stock, Shares Authorized 100.00M as of 2025-12-31
Preferred Stock, Shares Issued 343,100 as of 2025-12-31
Preferred Stock, Shares Outstanding 343,100 as of 2025-12-31
Common Stock, Shares Authorized 1.00B as of 2025-12-31
Common Stock, Shares, Issued 377.81M as of 2025-12-31
Common Stock, Shares, Outstanding 377.81M as of 2025-12-31
Unit US$ / share · 2 concepts
Label Value Period
Preferred Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31
Common Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31

Cash Flow Statement

46 concepts 2 units
Unit US$ · 45 concepts
Label Value Period
Gains (Losses) on Sales of Investment Real Estate 626.39M 2025-01-01 → 2025-12-31
Depreciation 1.01B 2025-01-01 → 2025-12-31
Amortization of Debt Discount (Premium) 5.27M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Noncash Expense 32.21M 2025-01-01 → 2025-12-31
Operating Lease, Payments 23.47M 2025-01-01 → 2025-12-31
Noncash Project Abandonment Costs 7.74M 2025-01-01 → 2025-12-31
Gain (Loss) on Sale of Investments -51.00K 2025-01-01 → 2025-12-31
Unrealized Gain (Loss) on Investments 25.40M 2025-01-01 → 2025-12-31
Interest Paid, Excluding Capitalized Interest, Operating Activities 274.15M 2025-01-01 → 2025-12-31
Proceeds from Equity Method Investment, Distribution 4.54M 2025-01-01 → 2025-12-31
Income Taxes Paid, Net 1.12M 2025-01-01 → 2025-12-31
Increase (Decrease) in Security Deposits 6.06M 2025-01-01 → 2025-12-31
Increase (Decrease) in Other Operating Assets 8.74M 2025-01-01 → 2025-12-31
Increase (Decrease) in Interest Payable, Net -316.00K 2025-01-01 → 2025-12-31
Payments to Acquire Real Estate 661.59M 2025-01-01 → 2025-12-31
Payments to Develop Real Estate Assets 111.81M 2025-01-01 → 2025-12-31
Increase (Decrease) in Accounts Payable and Accrued Liabilities 15.37M 2025-01-01 → 2025-12-31
Increase (Decrease) in Other Operating Liabilities 36.19M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Operating Activities 1.65B 2025-01-01 → 2025-12-31
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment 400.00K 2025-01-01 → 2025-12-31
Proceeds from Sale of Real Estate Held-for-investment 1.11B 2025-01-01 → 2025-12-31
Payments to Acquire Other Investments 250.00K 2025-01-01 → 2025-12-31
Proceeds from Sale and Maturity of Marketable Securities 1.04M 2025-01-01 → 2025-12-31
Proceeds from Unsecured Notes Payable 498.58M 2025-01-01 → 2025-12-31
Proceeds from Equity Method Investment, Distribution, Return of Capital 13.88M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Investing Activities -321.36M 2025-01-01 → 2025-12-31
Proceeds from Issuance of Commercial Paper 47.91B 2025-01-01 → 2025-12-31
Repayments of Commercial Paper 47.86B 2025-01-01 → 2025-12-31
Repayments of Unsecured Debt 450.00M 2025-01-01 → 2025-12-31
Repayments of Long-term Debt 6.80M 2025-01-01 → 2025-12-31
Finance Lease, Principal Payments 3.22M 2025-01-01 → 2025-12-31
Payments of Financing Costs 13.87M 2025-01-01 → 2025-12-31
Payments of Stock Issuance Costs 763.00K 2025-01-01 → 2025-12-31
Payments for (Proceeds from) Hedge, Financing Activities 3.55M 2025-01-01 → 2025-12-31
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Excluding Option Exercised 2.75M 2025-01-01 → 2025-12-31
Proceeds from Stock Options Exercised 5.47M 2025-01-01 → 2025-12-31
Payments for Repurchase of Common Stock 280.72M 2025-01-01 → 2025-12-31
Payments of Ordinary Dividends, Common Stock 1.05B 2025-01-01 → 2025-12-31
Payments of Ordinary Dividends, Preferred Stock and Preference Stock 1.42M 2025-01-01 → 2025-12-31
Payments of Ordinary Dividends, Noncontrolling Interest 4.42M 2025-01-01 → 2025-12-31
Proceeds from Partnership Contribution 5.00K 2025-01-01 → 2025-12-31
Proceeds from (Payments for) Other Financing Activities -105.00K 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Financing Activities -1.33B 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect -1.31M 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 158.85M as of 2025-12-31
Unit US$ / share · 1 concept
Label Value Period
Dividends Payable, Amount Per Share $0.69 as of 2025-12-31

Notes

88 concepts 8 units
Unit US$ · 65 concepts
Label Value Period
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross 30.46B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements 344.88M 2025-01-01 → 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation 11.02B as of 2025-12-31
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Depreciation Expense 1.01B 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Amount Capitalized 2.33M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Expense 32.21M 2025-01-01 → 2025-12-31
Real Estate Taxes and Insurance 450.45M 2025-01-01 → 2025-12-31
Deferred Compensation Arrangement with Individual, Compensation Expense 200.00K 2025-01-01 → 2025-12-31
Dividends, Preferred Stock 1.42M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 12.50M as of 2025-12-31
Noncontrolling Interest, Change in Redemption Value -105.00M 2025-01-01 → 2025-12-31
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land 103.67M as of 2025-12-31
Interest and Other Income 52.44M 2025-01-01 → 2025-12-31
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets 659.69M as of 2025-12-31
Noncontrolling Interest in Operating Partnerships 192.13M as of 2025-12-31
Net Income (Loss) Available to Common Stockholders, Diluted 1.15B 2025-01-01 → 2025-12-31
Finite-Lived Intangible Asset, Acquired-in-Place Leases 573.12M as of 2025-12-31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value 5.91M as of 2025-12-31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value 5.55M as of 2025-12-31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value 357.00K as of 2025-12-31
Operating Lease, Cost 23.43M 2025-01-01 → 2025-12-31
Variable Lease, Cost 7.67M 2025-01-01 → 2025-12-31
Lease, Cost 34.95M 2025-01-01 → 2025-12-31
Finance Lease, Liability, to be Paid, Year One 2.96M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Two 2.97M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Three 2.98M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Four 3.00M as of 2025-12-31
Finance Lease, Liability, to be Paid, Year Five 3.01M as of 2025-12-31
Finance Lease, Liability, to be Paid, after Year Five 76.25M as of 2025-12-31
Finance Lease, Liability, Payment, Due 91.17M as of 2025-12-31
Finance Lease, Liability, Undiscounted Excess Amount 25.15M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year One 16.09M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Two 16.36M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Three 16.52M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Four 16.42M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Five 15.54M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, after Year Five 777.71M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid 858.64M as of 2025-12-31
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 620.08M as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, Year One 840.00K as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 840.00K as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 840.00K as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 840.00K as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 840.00K as of 2025-12-31
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years 2.10M as of 2025-12-31
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount 25.40M 2025-01-01 → 2025-12-31
Debt Instrument, Cumulative Sinking Fund Payments 33.14M as of 2025-12-31
Long-Term Debt, Maturity, Year One 1.19B as of 2025-12-31
Defined Contribution Plan, Cost 5.50M 2025-01-01 → 2025-12-31
Long-Term Debt, Maturity, Year Two 408.20M as of 2025-12-31
Long-Term Debt, Maturity, Year Three 909.00M as of 2025-12-31
Long-Term Debt, Maturity, Year Four 897.82M as of 2025-12-31
Long-Term Debt, Maturity, Year Five 1.16B as of 2025-12-31
Long-Term Debt, Maturity, after Year Five 3.68B as of 2025-12-31
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) -2.20M 2025-01-01 → 2025-12-31
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 66.23M as of 2025-12-31
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 1.00M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, Year One 54.41M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, Year Two 52.40M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, Year Three 46.91M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, Year Four 39.84M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, Year Five 35.02M as of 2025-12-31
Lessor, Operating Lease, Payment to be Received, after Year Five 115.50M as of 2025-12-31
Lessor, Operating Lease, Payments to be Received 344.08M as of 2025-12-31
Distribution Made to Limited Partner, Cash Distributions Paid 29.70M 2025-01-01 → 2025-12-31
Unit ApartmentUnit · 1 concept
Label Value Period
Number of Units in Real Estate Property 85,190 as of 2025-12-31
Unit Property · 1 concept
Label Value Period
Number of Real Estate Properties 312 as of 2025-12-31
Unit Segment · 1 concept
Label Value Period
Number of Reportable Segments 2 2025-01-01 → 2025-12-31
Unit State · 1 concept
Label Value Period
Number of States in which Entity Operates 10 as of 2025-12-31

Other

3 concepts 2 units
Unit US$ · 1 concept
Label Value Period
Stock Repurchased and Retired During Period, Value 280.70M 2025-01-01 → 2025-12-31
Unit shares · 2 concepts
Label Value Period
Stock Issued During Period, Shares, Conversion of Units 2.52M 2025-01-01 → 2025-12-31
Stock Issued During Period, Shares, Employee Stock Purchase Plans 48,767 2025-01-01 → 2025-12-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (EQR CIK 0000906107), 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.