ESSEX PROPERTY TRUST, INC. ESS

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Essex Property Trust, Inc. ("Essex"), a Maryland corporation, is an S&P 500 company that operates as a self-administered and self-managed real estate investment trust ("REIT"). Essex owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the "Operating Partnership" or "EPLP"). Essex is the sole general partner of the Operating Partnership and as of December 31, 2025, had an approximately 96.6% general partner interest in the Operating Partnership. In this report, the terms "Company," "we," "us," and "our" also refer to Essex Property Trust, Inc., the Operating Partnership and those entities/subsidiaries owned or controlled by Essex and/or the Operating Partnership.

Last close 278.35 2026-10-23
Market cap $17.89B 2026-06-30 share count
52-week range 238.46 - 303.35

Valuation FY2025 figures against the last close

P/S1,907.0x
P/E26.8x
P/FCF16.6x
EV/EBITDA11.9x
Dividend yield—
Diluted EPS10.40

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $9.4M$10.3M$11.1M$11.1M$9.1M$9.6M$9.5M$9.2M$1.36B$1.29B
Gross profit $1.32B$1.24B$1.17B$1.13B——————
SG&A $71.9M$98.9M$63.5M$56.6M$51.8M$65.4M$54.3M$53.5M$41.4M$40.8M
Total operating expenses $1.29B$1.25B$1.14B$1.11B$1.05B$1.07B$975.9M$949.9M$917.4M$873.2M
Operating income $899.3M$703.1M$584.3M$595.2M$530.0M$491.4M$481.1M$512.0M$472.9M$420.8M
Interest expense $258.4M$235.5M$212.9M$204.8M$203.1M$220.6M$217.3M$220.5M$222.9M$219.7M
Net income $702.8M$811.3M$430.7M$433.0M$515.7M$599.3M$464.4M$413.6M$458.0M$415.0M
EPS, basic 10.4011.556.326.277.518.696.675.916.586.28
EPS, diluted 10.4011.546.326.277.518.696.665.906.576.27
Shares, diluted (wtd. avg.) 64.4M64.3M64.3M65.1M65.1M65.6M65.9M66.1M65.9M65.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $76.2M$66.8M$391.7M$42.7M$58.6M$84.0M$81.1M$151.4M$61.1M$170.3M
Other intangibles $7.5M$7.7M$6.1M$7.4M$8.9M$4.7M$1.2M$100.0K$400.0K$1.4M
Total assets $13.16B$12.93B$12.36B$12.37B$13.00B$12.94B$12.71B$12.38B$12.50B$12.22B
Long-term debt ————$639.0M$643.5M$990.7M$1.81B$2.01B$2.19B
Total liabilities $7.42B$7.18B$6.74B$6.45B$6.79B$6.72B$6.26B$5.95B$6.06B$5.88B
Total equity $5.54B$5.54B$5.59B$5.90B$6.18B$6.18B$6.40B$6.39B$6.40B$6.29B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.07B$1.07B$980.1M$975.6M$905.3M$803.1M$919.1M$826.6M$769.6M$716.8M
Depreciation and amortisation $607.5M$580.2M$548.4M$539.3M$520.1M$525.5M$483.8M$479.9M$468.9M$441.7M
Stock-based compensation $9.6M$7.2M$8.0M$7.2M$7.3M$8.2M$7.0M$7.1M$9.3M$9.8M
Investing cash flow -$552.5M-$973.1M-$145.1M$146.0M-$397.4M-$416.9M-$527.7M-$59.9M-$567.9M-$413.1M
Financing cash flow -$512.2M-$419.7M-$477.3M-$1.14B-$533.3M-$383.3M-$461.7M-$676.4M-$310.8M-$256.5M
Buybacks $0$0$95.7M$189.7M$9.2M$269.3M$57.0M$51.2M$0$1.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000920522-26-000003.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 1.3B Net income, FY2016: 415M Revenue, FY2017: 1.4B Net income, FY2017: 458M Revenue, FY2018: 9.2M Net income, FY2018: 413.6M Revenue, FY2019: 9.5M Net income, FY2019: 464.4M Revenue, FY2020: 9.6M Net income, FY2020: 599.3M Revenue, FY2021: 9.1M Net income, FY2021: 515.7M Revenue, FY2022: 11.1M Gross profit, FY2022: 1.1B Net income, FY2022: 433M Revenue, FY2023: 11.1M Gross profit, FY2023: 1.2B Net income, FY2023: 430.7M Revenue, FY2024: 10.3M Gross profit, FY2024: 1.2B Net income, FY2024: 811.3M Revenue, FY2025: 9.4M Gross profit, FY2025: 1.3B Net income, FY2025: 702.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.29B $1.36B $9.2M $9.5M $9.6M $9.1M $11.1M $11.1M $10.3M $9.4M
Gross profit — — — — — — $1.13B $1.17B $1.24B $1.32B
Net income $415.0M $458.0M $413.6M $464.4M $599.3M $515.7M $433.0M $430.7M $811.3M $702.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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