How do you interpret reportable legal entities — cost of real estate revenue?

Lower costs relative to revenue are better, as they indicate higher operational efficiency and property-level profitability.

How does reportable legal entities — cost of real estate revenue compare across companies?

Standard operating expense metric for residential and commercial property management companies.

American Homes 4 Rent AMH Reportable Legal Entities — Cost Of Real Estate Revenue

Discontinued — last reported Q1 '18

Similar metrics at other companies

WPCOwned Real Estate — Cost Of Revenue

$10.15M+81.7%

ABROperating Segments — Cost Of Real Estate Revenue

$2.8M+6.0%

LADRReal Estate — Real estate operating expenses

$11.26M+28.4%

KIMReal Estate Rental Operations — Operating Expenses

$172.22M+5.2%

PEA

PEAKReal Estate — Cost of Goods Sold

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NYM

NYMTExpenses related to real estate

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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$11.41B-27.4%

Enterprise value$16.35B-19.4%

P/E21.4×-12.2×

P/S6.1×-2.8×

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:CostOfRealEstateRevenue.

The official record: American Homes 4 Rent’s 10-Q, filed May 4, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does reportable legal entities — cost of real estate revenue mean?: The direct costs incurred to operate and maintain the rental properties that generate revenue.
How do you interpret reportable legal entities — cost of real estate revenue?: Lower costs relative to revenue are better, as they indicate higher operational efficiency and property-level profitability.
How does reportable legal entities — cost of real estate revenue compare across companies?: Standard operating expense metric for residential and commercial property management companies.