Income StatementBalance SheetCash FlowSegments
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AvalonBay Communities Cash Flow Statement

Operating, investing, and financing cash movements

AvalonBay Communities generated $1.7B in operating cash flow over the trailing twelve months. After $272.9M in capital expenditures, free cash flow was $1.4B. Free cash flow decreased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.7BNet Cash From Investing (TTM)-$1.0BNet Cash From Financing (TTM)-$830.7MCapital Expenditures (TTM)$272.9MDepreciation And Amortization Cf (TTM)$928.6MNet Change In Cash (TTM)$72.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$25.8B
P/E Ratio22.49
ROE9.79%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$4.8M$2.4M$4.2M$29.3M$4.1M$3.6M
Capital expenditures$56.9M$48.4M$60.7M$74.8M$78.0M$59.5M
Proceeds from Collection of Notes Receivable—$109.0K———$17.6M
Distributions from unconsolidated entities and investment sale proceeds—$0.0———$180.0K
Payments For Capital Improvements, Non Real Estate$124.0K$256.0K$1.6M$634.0K$664.0K$514.0K
Payments to Acquire Other Real Estate$186.1M$187.4M$197.1M$259.5M$38.2M$0.0
Proceeds From Collection Of Notes Receivable—$109.0K———$17.6M
Increase (decrease) in payables for construction—-$3.4M$19.1M-$3.7M—$15.3M
Net cash from investing activities-$314.3M-$427.9M-$395.3M-$101.9M-$467.3M-$49.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$3.3M$3.2M$3.0M$3.9M$3.5M$3.6M
Change in accrued investment income$3.6M$5.8M———$7.2M
Change in accrued liabilities—$10.6M-$11.6M$69.6M—$7.4M
Change in other assets$0.0$9.0M$26.9M-$504.0K—-$13.1M
Depreciation and amortization$215.5M$217.9M$231.7M$230.4M$233.4M$233.1M
Gain (loss) on sale of assets$122.1M$56.7M$103.1M$180.4M$0.0$180.0M
Net cash from operating activities$328.8M$415.9M$377.8M$477.0M$400.4M$418.9M
Net income$282.1M$236.6M$269.9M$384.2M$166.0M$328.3M
Casualty and impairment loss$0.0$0.0$858.0K$0.0$418.0K$2.0M
Equity in loss of, and return on, unconsolidated investments and noncontrolling interests, net of eliminations—$3.1M$3.6M-$39.7M—$9.9M
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net$274.0K$273.0K$570.0K$69.0K$380.0K$388.0K
Expensed transaction, development and other pursuit costs, net of recoveries$11.1M$4.7M$2.5M$1.4M$2.2M$3.4M
Stock-based compensation$5.1M$5.7M$8.5M$7.1M$5.2M$5.7M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$662.0K$1.2M$8.3M$1.1M$973.0K$982.0K
Dividends paid$241.8M$243.7M$249.0M$250.2M$249.5M$249.3M
Payments For Redemption Of Noncontrolling Interests, Distribution To Joint Ventures And Preferred Equity Redemption And Dividends$520.0K$440.0K$560.0K$12.9M$0.0$0.0
Net borrowings under unsecured credit facility and commercial paper—$224.9M$440.1M-$430.0M$504.6M$30.1M
Net cash from financing activities-$539.9M-$36.0M$93.8M-$348.6M—-$431.9M
Payment of debt issuance costs$1.0K$0.0$16.0M$4.0M$3.1M$224.0K
Proceeds from issuance of common stock$3.3M$693.0K$2.7M$0.0$83.3M$0.0
Repurchases of common stock$0.0$0.0$122.0M$122.0M$122.0M$198.5M
Taxes paid for net share settlement$281.0K$16.4M$191.0K$99.0K$70.0K$13.1M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$271.9M$367.5M$317.1M$402.2M$322.5M$359.5M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$77.8M$40.2M$90.3M$32.9M$73.2M$60.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash-$525.4M-$48.0M$76.3M$26.5M$31.2M-$62.0M