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Equity Residential Income Statement

Revenue, expenses, and profitability over time

Equity Residential generated $3.1B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $953.6M with a 30.63% net margin. Diluted EPS is $2.51, which declined 0.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$3.1BOperating Income (TTM)$1.2BNet Income (TTM)$953.6MEps Diluted (TTM)$2.51
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$25.0B
P/E Ratio26.19
ROE8.78%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$264.2M$256.7M$240.9M$254.7M$258.1M$247.5M
General and administrative$12.8M$18.3M$18.5M$14.7M$13.8M$16.9M
Cost Of Property Management$32.4M$35.8M$34.8M$30.1M$32.7M$35.1M
Real Estate Taxes And Insurance$111.6M$111.8M$112.3M$111.8M$114.5M$117M
Total operating expenses$554.3M$566.5M$542.8M$555.9M$559M$566.2M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$1.11$0.68$0.51$0.76$1.01$0.24
Diluted earnings per share$1.10$0.67$0.50$0.76$1.01$0.24
Weighted-average shares, basic378.8M379.2M379.5M380.6M379.6M375.6M
Weighted-average shares, diluted390.7M391.2M391.5M391M390.4M385.1M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments-$4.1M-$6.4M-$5M-$4M-$3.5M-$2M
Interest expense$80M$72.1M$75.3M$80.1M$79.2M$77.4M
Interest income$3.8M$1.7M$2.1M$45.2M$3.4M$2.2M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$438.3M$271.7M$204.2M$301.2M$395.4M$95.6M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$331K$422K$407K$395K$361K$422K

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$419.1M$256.6M$192.4M$289.1M$382.1M$90.1M
Preferred stock dividends$355K$356K$355K$356K$355K$356K

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allocation Of Net Income Loss To Noncontrolling Interests Partially Owned Properties$3.1M$1.1M$1.2M$1.1M$1M$1.1M
Amortization Of Deferred Financing Costs$2.1M$2.1M$2.1M$2.1M$2.4M$2.1M
Amortization Of Financing Costs$2.1M$2.1M$2.1M$2.1M$2.4M$2.1M
Cost Of Property Repairs And Maintenance$133.4M$144M$136.3M$144.6M$139.8M$149.7M
Depreciation$264.2M$256.7M$240.9M$254.7M$258.1M$247.5M
Gain Loss On Sales Of Land Parcels—-$67K-$11K-$2K$0—
Gain (loss) on real estate dispositions, net$319M$154.2M$58.3M$142.7M$271.3M-$32K
Interest income and other, net$3.8M$1.7M$2.1M$45.2M$3.4M$2.2M
Debt$80M$72.1M$75.3M$80.1M$79.2M$77.4M
Lease income — operating leases$766.8M$760.8M$768.8M$782.4M$781.9M$779.8M
Other Nonoperating Expense$15M$4.2M$4.8M$30.9M$20.6M$40.8M
Preferred Stock Redemption Premium—$0————

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Rental income$766.8M$760.8M$768.8M$782.4M$781.9M$779.8M