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American Homes 4 Rent AMH Property operating expenses — Cost of Goods Sold

Other product segments

Property management expenses
$33.28M-2.6%

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Other financials

Income statement

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Revenue$472.0M+2.8%
Net income$148.8M+15.6%
EPS (diluted)$0.35+16.7%

Balance sheet

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Cash & equivalents$208.2M-4.9%
Total debt$5.1B+4.0%
Total equity$6.9B-3.2%
Total assets$13.2B-0.9%

Cash flow

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Operating cash flow$203.1M-9.1%
CapEx$9.4M+26.2%
Free cash flow$193.7M-10.3%

Valuation

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Market cap$12.44B-3.7%
Enterprise value$17.38B-1.4%
P/E23.3×-3.4×
P/S6.7×-0.5×

Profitability

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Net margin28.6%+2.1pp
FCF margin43%-2.5pp

Returns & leverage

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Return on equity7.6%+1.0pp
Debt / equity0.7×+0.1×

Where this comes from

Reported directly by American Homes 4 Rent in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: American Homes 4 Rent’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:23 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001562401-26-000032
Line itemFor the Three Months Ended March 31, 2026For the Three Months Ended March 31, 2025
Rents and other single-family property revenues$472,024$459,276
Expenses:
Property operating expenses168,709167,530
Property management expenses33,28434,181
General and administrative expense21,33219,671
Interest expense48,22245,426
Acquisition, disposition and other transaction costs3,0603,061
Depreciation and amortization127,344124,928

Item 1. Financial Statements (Unaudited)

FAQ

What is American Homes 4 Rent's property operating expenses — cost of goods sold?
American Homes 4 Rent (AMH) reported property operating expenses — cost of goods sold of $168.71M in Q1 2026.
How has American Homes 4 Rent's property operating expenses — cost of goods sold changed year-over-year?
American Homes 4 Rent's property operating expenses — cost of goods sold increased by 0.7% year-over-year, from $167.53M to $168.71M.
What is the long-term trend for American Homes 4 Rent's property operating expenses — cost of goods sold?
Over 4 years (2021 to 2025), American Homes 4 Rent's property operating expenses — cost of goods sold has grown at a 7.9% compound annual growth rate (CAGR), from $490.21M to $663.95M.
What does property operating expenses — cost of goods sold mean?
This metric represents the direct costs associated with maintaining, operating, and servicing the single-family rental property portfolio. It encompasses expenses such as property management, repairs, maintenance, and turnover costs required to generate rental revenue. These costs are essential for assessing the operational efficiency and profitability of the company's core real estate assets.

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