Income StatementBalance SheetCash FlowSegments
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Equity Residential Cash Flow Statement

Operating, investing, and financing cash movements

Equity Residential generated $1.6B in operating cash flow over the trailing twelve months. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.6BNet Cash From Investing (TTM)-$510.9MNet Cash From Financing (TTM)-$1.1BDepreciation And Amortization Cf (TTM)$1.0BNet Change In Cash (TTM)-$2.4M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$24.5B
P/E Ratio25.71
ROE8.78%

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from commercial paper notes$24.5B$11.2B$7.6B$14.6B$14.5B$6.9B
Proceeds from lines of credit$194.0M————$1.0M
Proceeds from Commercial Paper$24.5B$11.2B$7.6B$14.6B$14.5B$6.9B
Proceeds from lines of credit$194.0M————$1.0M
Proceeds from Lines of Credit$194.0M————$1.0M
Repayments of Lines of Credit$194.0M————$1.0M
Net change in commercial paper$24.7B$11.5B$7.1B$14.6B$14.7B$6.7B
Proceeds from issuance of debt$194.0M————$1.0M
Repayments of debt$194.0M————$1.0M
Distributions to noncontrolling interests$1.0K$3.4M$631.0K$422.0K$0.0$1.9M
Dividends paid$256.1M$256.4M$263.0M$263.1M$263.7M$261.9M
Dividends paid on preferred stock$355.0K$356.0K$355.0K$356.0K$355.0K$356.0K
Distribution Made to Limited Partner, Cash Distributions Paid$7.4M$8.3M$7.6M$7.6M$6.2M$7.1M
Finance Ground Lease Principal Payments$722.0K$735.0K$736.0K$736.0K$739.0K$739.0K
Mortgage Notes Payable Lump Sum Pay Offs—$37.9M$0.0$0.0$0.0—
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$355.0K$356.0K$355.0K$356.0K$355.0K$356.0K
Proceeds from Issuance of Commercial Paper$24.5B$11.2B$7.6B$14.6B$14.5B$6.9B
Issuance of stock under employee stock plans$692.0K$942.0K$471.0K$550.0K$782.0K$1.1M
Proceeds From Partnership Contribution$0.0$4.0K$0.0$1.0K$0.0—
Other, net-$42.0K-$7.0K-$46.0K-$7.0K-$45.0K-$7.0K
Proceeds From Unsecured Notes Payable$0.0——$0.0$0.0—
Repayment of commercial paper$24.7B$11.5B$7.1B$14.6B$14.7B$6.7B
Payment of Deferred Purchase Consideration-$42.0K-$7.0K-$46.0K-$7.0K-$45.0K-$7.0K
Noncontrolling interest transactions and other-$42.0K-$7.0K-$46.0K-$7.0K-$45.0K-$7.0K
Proceeds from Borrowings on Revolving Credit Facility$194.0M————$1.0M
Repayments of Lines of Credit$194.0M————$1.0M
Net cash from financing activities-$507.8M-$541.5M$247.2M-$305.0M-$729.4M-$328.1M
Other financing activities-$42.0K-$7.0K-$46.0K-$7.0K-$45.0K-$7.0K
Borrowings Under Acquisition Credit Facilities$194.0M————$1.0M
Noncontrolling Interests Activity and Other-$42.0K-$7.0K-$46.0K-$7.0K-$45.0K-$7.0K
Repayments of Acquisition Credit Facilities$194.0M————$1.0M
Redemption of preferred stock$0.0—————
Proceeds from issuance of common stock$5.7M$4.4M$997.0K$1.0K$116.0K$425.0K
Proceeds from Secured Lines of Credit$194.0M————$1.0M
Repurchases of common stock$0.0———$186.4M$219.4M
Repayments of lines of credit$194.0M————$1.0M
Payments for Hedge Financing Activities$0.0——$0.0$0.0—
Payments of Stock Issuance Costs———$282.0K$0.0—

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt issuance costs and discount amortization$1.3M$1.3M$1.3M$1.3M$1.3M$1.3M
Amortization of debt issuance costs$2.1M$2.1M$2.1M$2.1M$2.4M$2.1M
Change in accounts payable-$68.1M$51.3M-$40.4M$44.9M-$40.4M$31.6M
Change in other assets$17.4M-$25.4M$44.1M-$22.0M$12.1M-$31.2M
Change in other liabilities$16.4M-$21.6M$10.2M$23.7M$23.9M-$2.1M
Depreciation and amortization$264.2M$256.7M$240.9M$254.7M$258.1M$247.5M
Equity in income of investees-$4.1M-$6.4M-$5.0M-$4.0M-$3.5M-$2.0M
Distributions from equity method investments$109.0K$150.0K$93.0K$2.5M$1.8M$1.5M
Net gains (losses) on investments$0.0———$0.0—
Gain (loss) on sale of assets-$676.0K-$40.0K-$9.0K-$2.0K$0.0—
Net cash from operating activities$354.2M$425.5M$359.5M$476.7M$387.0M$400.5M
Net income$433.9M$264.8M$198.8M$296.9M$391.5M$93.1M
Amortization Of Debt Discount Premium$1.3M$1.3M$1.3M$1.3M$1.3M$1.3M
Amortization Of Deferred Hedge Gains$677.0K$683.0K$262.0K$275.0K$279.0K$282.0K
Distributions of earnings from equity method investees$109.0K$150.0K$93.0K$2.5M$1.8M$1.5M
Gain (Loss) on Sale of Investments-$676.0K-$40.0K-$9.0K-$2.0K$0.0—
Gain Loss On Sale Of Land Parcels—-$67.0K-$11.0K-$2.0K$0.0—
Increase Decrease In Lease Liabilities-$500.0K-$541.0K-$565.0K-$560.0K-$590.0K-$616.0K
Increase (Decrease) in Other Operating Assets$17.4M-$25.4M$44.1M-$22.0M$12.1M-$31.2M
Increase Decrease In Security Deposits$1.3M$1.7M$3.8M$1.4M-$805.0K$151.0K
Expensed transaction, development and other pursuit costs, net of recoveries$3.3M$1.3M$727.0K$4.1M$1.6M$954.0K
Operating And Finance Lease Right Of Use Asset Amortization$3.2M$3.2M$3.2M$3.2M$3.3M$3.2M
Stock-based compensation$4.5M$10.4M$11.2M$5.4M$5.2M$9.6M
Change in Interest Payable$23.5M-$23.9M$25.4M-$21.1M$19.2M-$21.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Change in Cash Excluding Exchange Rate Effect$33.6M-$18.6M-$9.6M$67.5M-$40.6M-$19.7M
Net Change in Cash Excluding FX Effect$33.6M-$18.6M-$9.6M$67.5M-$40.6M-$19.7M
Net increase (decrease) in cash$33.6M-$18.6M-$9.6M$67.5M-$40.6M-$19.7M
Net Change in Cash Excluding Exchange Rate Effect$33.6M-$18.6M-$9.6M$67.5M-$40.6M-$19.7M
Unrealized Gain - Net of Tax$0.0-$1.5M-$2.0M$0.0$0.0—
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax-$680.0K-$686.0K-$265.0K-$278.0K-$282.0K-$285.0K

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$242.0K$371.0K$549.0K$150.0K$51.0K$459.0K
Interest paid$43.4M$89.5M$44.2M$90.3M$50.1M$90.5M
Amortization Of Deferred Financing Costs Mortgage Notes Payable Net$261.0K$355.0K$256.0K$255.0K$256.0K$256.0K
Amortization Of Deferred Financing Costs Notes Net$1.1M$1.1M$1.2M$1.2M$1.2M$1.2M
Amortization Of Deferred Financing Costs Other Assets$696.0K$697.0K$696.0K$696.0K$973.0K$718.0K
Amortization Of Deferred Settlements On Derivative Instruments Other Liabilities$3.0K$3.0K$3.0K$3.0K$3.0K$3.0K
Amortization Of Discounts And Premiums On Debt Mortgage Notes Payable$715.0K$698.0K$706.0K$715.0K$713.0K$699.0K
Amortization Of Discounts And Premiums On Debt Notes Net$613.0K$613.0K$620.0K$601.0K$602.0K$601.0K
Income Loss From Equity Method Investments Merger$3.8M$6.1M$4.7M$3.7M$3.9M$2.0M
Income Taxes Paid, Net$242.0K$371.0K$549.0K$150.0K$51.0K$459.0K
Initial Measurement And Reclassifications Lease Liabilities—$527.0K$0.0$3.3M$1.1M$593.0K
Initial Measurement And Reclassifications Right Of Use Assets—$527.0K$0.0$3.3M$1.1M$593.0K
Investment In Real Estate Net Under Development$2.0M$2.4M$1.4M$1.5M$1.5M-$1.4M
Investments In Unconsolidated Entities$29.3M$31.7M$28.9M$2.2M$2.2M$2.6M
Investments In Unconsolidated Entities Other Liabilities$780.0K$660.0K$840.0K$19.3M$0.0—
Investments In Unconsolidated Entities Under Development-$1.8M-$1.5M-$1.3M-$1.4M-$1.4M-$1.3M
Non Cash Change In Supplemental Executive Retirement Plan Balances Paid In Capital$3.0K$111.0K-$851.0K$238.0K$0.0$136.0K
Non Cash Change In Supplemental Executive Retirement Plan Balances Other Assets-$95.0K$16.2M-$7.3M-$3.8M-$2.6M$16.2M
Non Cash Change In Supplemental Executive Retirement Plan Balances Other Liabilities-$4.0M-$16.3M$8.1M$3.6M$6.7M$16.3M
Other Liabilities Loss From Investments In Unconsolidated Entities Merger$297.0K$307.0K$296.0K$274.0K-$398.0K$12.0K
Unrealized Gain Loss On Derivative Instruments Other Liabilities$8.0M$2.1M$1.6M$0.0$0.0—
Unrealized Gain Loss On Derivative Instruments Other Assets—-$555.0K$466.0K$0.0$0.0—
Write Off Of Pursuit Costs Investments In Unconsolidated Entities$425.0K$1.2M$589.0K$446.0K$1.3M$676.0K
Write Off Of Pursuit Costs Other Assets$417.0K$88.0K$33.0K-$23.0K$268.0K$200.0K
Write Off Pursuit Costs Investment In Real Estate$2.4M$82.0K$105.0K$3.7M$92.0K$78.0K

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Real Estate Capital Additions$1.2M$935.0K$84.0K$274.0K$3.3M$1.3M
Payments For Capital Expenditures To Real Estate$71.3M$62.0M$82.4M$99.2M$98.5M$62.0M
Payments Of Interest Capitalized For Real Estate And Unconsolidated Entities Under Development$3.8M$3.9M$2.7M$2.9M$2.9M$2.6M
Payments To Acquire Equity Method Investments Development And Other$30.1M$32.3M$29.7M$21.5M$2.2M$2.6M
Payments To Acquire Real Estate$274.5M——$103.1M$23.7M—
Payments To Develop Real Estate Assets$39.1M$31.0M$28.7M$22.2M$29.9M$23.7M
Proceeds From Sale Of Real Estate Heldforinvestment$599.5M$226.7M$116.3M$246.0M$518.2M—
Net cash from investing activities$187.1M$97.3M-$616.3M-$104.1M$301.7M-$92.2M
Dividend Received from Consumer Healthcare JV$0.0$331.0K$0.0$687.0K$12.9M—
Purchases of investments—$62.5K$62.5K$62.5K$62.5K—
Distributions from DIRECTV in Excess of Earnings$0.0$331.0K$0.0$687.0K$12.9M—