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AvalonBay Communities AVB Q4 2025 Annual earnings

Reported February 4, 2026 · After market close

Revenue$678.9MMiss by $86.7MDiluted EPS$1.17Miss by $0.06
Revenue estimate$765.6M
EPS estimate$1.23

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$771.7M
EPS estimate$1.23

Financials

Q4 2025

Income statement

See full
Revenue$767.9M+3.7%
Operating income$509.4M+5.5%
Net income$170.0M-39.7%
EPS (diluted)$1.18-40.4%

Balance sheet

See full
Cash & equivalents$353.1M+32.2%
Total debt$10.2B+24.0%
Total equity$11.6B-2.8%
Total assets$22.2B+5.7%

Cash flow

See full
Operating cash flow$400.4M+21.8%
CapEx$78.0M+37.0%
Free cash flow$322.5M+18.6%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$25.67B-17.9%
Enterprise value$35.55B-9.5%
P/E24.3×-4.6×
P/S8.4×-2.3×

Profitability

See full
Operating margin67%+0.9pp
Net margin34.7%-2.4pp
FCF margin46.3%-2.2pp

Returns & leverage

See full
Return on equity9%-0.1pp
Debt / equity0.9×+0.2×

Segments

By segment

See full
Same Store$674.9M+1.7%
Other Stabilized$52.3M+75.5%
Development/ Redevelopment$17.8M+264%

By product

See full
Non-lease related revenue$4.3M-16.1%
Management, development and other fees and other ancillary items$1.8M+5.7%

Versus estimates

Revenue

Q1 2026$705.3MMiss by $63.5M
Q4 2025$678.9MMiss by $86.7M
Q3 2025$764.9MMiss by $1.5MQ2 2025$760.2MMiss by $5.9MQ1 2025$745.9MBeat by $1.9MQ4 2024$740.5MIn line

Diluted EPS

Q1 2026$2.33Beat by $1.06
Q4 2025$1.17Miss by $0.06
Q3 2025$2.75Miss by $0.06Q2 2025$2.82Beat by $0.02Q1 2025$2.83Beat by $0.03Q4 2024$2.80Miss by $0.03

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Questions, answered.

When did AvalonBay Communities report Q4 2025 earnings?
AvalonBay Communities (AVB) reported Q4 2025 earnings on February 4, 2026 after market close.
What were AvalonBay Communities's Q4 2025 revenue and EPS?
AvalonBay Communities reported revenue of $678.9M and diluted EPS of $1.17 for Q4 2025.
Did AvalonBay Communities beat estimates in Q4 2025?
Revenue missed the consensus estimate of $765.6M by $86.7M. EPS missed the consensus estimate of $1.23 by $0.06.
How did AvalonBay Communities's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 8.3% from $740.5M a year earlier and diluted EPS declined 58.2% from $2.80.
Where can I find AvalonBay Communities's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000915912-26-000002) and the 10-K periodic report (0000915912-26-000004) directly on SEC EDGAR. The filing index links above go to sec.gov.