Annual Financials for AvalonBay Communities, Inc. (AVB)

20 Years of financial data for all companies
Including key metrics, annual/quarterly financials, and historic PE ratio.



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All numbers in thousands except per share items and ratios.
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Reported Currency: USD TTM 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Revenue 2,854,199 2,781,363 2,593,446 2,294,850 2,301,261 2,324,626 2,284,535 2,158,628 2,045,255 1,856,028 1,685,061 1,462,921 1,038,660 968,711 895,266 851,582 854,208 812,741 737,300 670,680 648,454
Revenue Growth - 7.25% 13.01% -0.28% -1.01% 1.75% 5.83% 5.54% 10.20% 10.15% 15.18% 40.85% 7.22% 8.20% 5.13% -0.31% 5.10% 10.23% 9.93% 3.43%
Cost of Revenue 1,396,926 988,132 919,114 853,942 823,102 768,106 762,851 719,385 678,452 637,876 584,821 507,029 362,196 353,308 363,334 335,875 240,864 242,702 0 0 0
Gross Profit 1,457,273 1,793,231 1,674,332 1,440,908 1,478,159 1,556,520 1,521,684 1,439,243 1,366,803 1,218,152 1,100,240 955,892 676,464 615,403 531,932 515,707 613,344 570,039 737,300 670,680 648,454
Gross Profit Margin 50.58% 64.47% 64.56% 62.79% 64.23% 66.96% 66.61% 66.67% 66.83% 65.63% 65.29% 65.34% 65.13% 63.53% 59.42% 60.56% 71.80% 70.14% 100.00% 100.00% 100.00%
Research and Development 23,212 0 16,565 3,231 12,399 0 0 0 0 0 0 0 0 2,967 0 5,842 0 0 0 0 0
General and Administrative Expenses 77,998 76,534 74,064 69,611 60,343 58,042 56,205 50,814 45,771 42,396 41,425 39,573 34,101 34,497 26,846 32,592 42,781 28,494 24,767 25,761 18,074
Total Operating Expenses 456,344 76,534 905,607 828,207 767,674 719,620 687,401 634,964 577,205 520,319 484,107 599,788 290,127 284,130 259,417 248,180 -20,313 282,955 466,815 441,628 430,777
Operating Income or Loss 1,220,152 1,716,697 822,119 651,286 716,907 845,552 826,414 798,484 784,776 693,463 611,648 352,114 368,916 331,273 272,515 241,617 281,848 287,084 270,485 229,052 217,677
Operating Margin 42.44% 61.72% 31.70% 28.38% 31.15% 36.37% 36.17% 36.99% 38.37% 37.36% 36.30% 24.07% 35.52% 34.20% 30.44% 28.37% 33.00% 35.32% 36.69% 34.15% 33.57%
Interest Expense 217,084 205,992 230,074 220,415 214,151 203,585 220,974 199,661 187,510 175,615 180,618 172,402 136,920 168,179 175,209 150,323 114,878 97,545 111,046 127,099 131,314
EBITDA 1,949,964 1,961,548 1,637,097 1,409,882 1,424,238 1,507,130 1,462,304 1,412,902 1,322,416 1,210,429 1,133,858 886,523 572,086 410,414 505,457 336,117 375,081 449,320 416,429 399,453 385,276
Depreciation and Amortization 842,008 816,965 1,857,303 1,736,878 1,587,882 1,491,538 1,458,121 1,359,391 1,260,479 477,923 442,682 560,215 256,026 246,666 232,942 209,746 194,150 181,725 172,991 170,401 167,599
Income Before Tax 1,045,285 938,591 1,151,084 1,010,089 824,459 799,106 974,175 876,660 1,034,013 743,594 668,516 57,827 264,756 165,938 98,068 200,826 411,487 247,668 278,399 322,378 219,745
Income Tax Expense 3,136 10,153 14,646 5,733 -3,247 13,003 -160 141 305 1,861 9,368 -138,056 -7,350 -105,229 97,946 113,321 227,477 -13,492 -7,914 243,994 224,121
Net Income 1,041,871 928,825 1,136,775 1,004,299 827,630 785,974 974,525 876,921 1,034,002 742,038 683,567 353,141 423,869 441,622 175,331 155,647 411,487 358,160 278,399 322,378 219,745
Net Income Margin 36.34% 33.39% 43.83% 43.76% 35.96% 33.81% 42.66% 40.62% 50.56% 39.98% 40.57% 24.14% 40.81% 45.59% 19.58% 18.28% 48.17% 44.07% 37.76% 48.07% 33.89%
EPS 7.32 6.57 8.13 7.19 5.89 5.64 7.05 6.36 7.53 5.54 5.22 2.78 4.34 4.89 2.08 1.94 5.22 4.44 3.48 4.14 2.95
EPS Diluted 7.31 6.56 8.11 7.17 5.88 5.63 7.05 6.35 7.52 5.51 5.21 2.78 4.32 4.87 2.07 1.93 5.17 4.38 3.42 4.05 2.92
Weighted Average Shares Out - 141,307 139,634 139,389 140,095 139,420 138,248 137,911 137,275 133,886 130,878 126,856 97,416 89,922 83,860 79,951 76,784 78,680 74,126 72,952 71,541
Weighted Average Shares Out Diluted - 141,644 139,975 139,717 140,435 139,572 138,289 138,067 137,462 134,593 131,238 127,266 98,025 90,777 84,633 80,600 77,579 79,857 75,587 74,759 72,276

Reported Currency: USD Q3 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Current Assets
Cash and Cash Equivalents 552,356 397,890 613,189 420,251 216,976 39,687 91,659 67,088 214,994 400,507 509,460 281,541 2,733,618 616,890 306,426 316,367 259,305 21,222 145,556 54,372 14,657
Short Term Investments 0 0 3,204 3,204 4,308 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash + Short Term Investments 552,356 397,890 613,189 420,251 216,976 39,687 91,659 67,088 214,994 400,507 509,460 281,541 2,733,618 616,890 306,426 316,367 259,305 21,222 145,556 54,372 14,657
Net Receivables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Inventory 0 0 32,532 -54,190 -80,348 457,809 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 240,121 133,070 121,056 157,294 127,367 122,151 158,021 167,504 403,988 333,993 125,242 125,236 74,698 96,997 173,343 210,676 192,681 189,171 135,917 47,225 52,076
Total Current Assets 792,477 530,960 771,060 596,139 362,502 161,838 249,680 234,592 362,048 535,405 634,702 406,694 2,808,399 690,329 479,769 316,367 259,305 210,393 145,556 54,372 14,657
Non-Current Assets
Property, Plant and Equipment 156,994 134,674 143,331 146,599 155,266 124,961 17,591,010 17,649,193 16,927,855 15,440,443 14,576,293 13,725,454 7,360,454 7,425,030 6,955,645 6,833,487 6,649,743 6,297,182 5,478,057 4,945,788 4,877,825
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long Term Investments 227,831 220,145 212,084 216,390 202,612 165,806 217,432 163,475 175,116 216,919 298,315 353,866 129,352 144,561 121,537 74,570 55,025 57,990 42,724 41,942 41,379
Tax Assets 0 0 20,457,764 19,902,016 19,199,144 19,121,051 18,380,200 18,414,821 17,867,271 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 20,131,109 19,441,259 19,331,289 18,942,888 18,478,764 18,668,446 17,913,088 18,016,754 17,330,107 738,538 667,413 842,129 861,873 222,470 264,537 233,181 209,301 170,919 -5,520,781 -4,987,730 -4,919,204
Total Non-Current Assets 20,515,934 19,796,078 19,686,704 19,305,877 18,836,642 18,959,213 18,130,520 18,180,229 17,505,223 16,395,900 15,542,021 14,921,449 8,351,679 7,792,061 7,341,719 7,141,238 6,914,069 6,526,091 5,520,781 4,987,730 4,919,204
Other Assets 0 351,176 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141,579 122,958 134,420
Total Assets 21,308,411 20,678,214 20,457,764 19,902,016 19,199,144 19,121,051 18,380,200 18,414,821 17,867,271 16,931,305 16,176,723 15,328,143 11,160,078 8,482,390 7,821,488 7,457,605 7,173,374 6,736,484 5,807,916 5,165,060 5,068,281
Current Liabilities
Accounts Payable 81,263 87,703 72,802 63,722 93,609 92,135 96,983 85,377 100,998 98,802 101,916 94,632 52,903 36,845 34,433 49,623 64,363 91,275 59,232 62,852 23,005
Short Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 336,848 2,003,086 0 2,316,843 0 0 0 0 0
Tax Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 -358,300 -44,237 56,772 -39,346 -6,921,717 -7,245,549 -6,321,389 0 0 0 0 1,599,205 0 0 0 0 0 0 0
Other Current Liabilities 727,334 622,184 586,308 572,002 548,940 536,956 548,689 547,399 -100,190 -98,249 -101,009 -93,758 34,425 -36,845 355,515 -1,976,037 468,581 339,738 386,768 193,148 217,995
Total Current Liabilities 808,597 709,887 659,110 64,026 93,920 92,510 645,672 632,776 808 553 907 874 706 2,003,086 389,948 386,764 532,944 435,999 446,000 256,000 241,000
Non-Current Liabilities
Long Term Debt 8,550,663 8,135,054 8,478,716 8,270,044 7,745,816 7,436,758 7,040,263 7,329,470 7,030,880 6,456,948 6,489,707 6,134,351 3,514,185 3,222,814 4,101,687 3,849,812 3,674,457 2,484,482 672,508 2,366,564 2,442,291
Deferred Revenue 0 0 9,201,526 8,965,555 55,928 61,752 58,415 58,473 57,023 53,132 49,502 45,485 38,626 0 0 0 0 0 0 0 0
Deferred Tax 0 0 165,751 170,656 -55,928 -61,752 -58,415 -58,473 -57,023 -53,132 -49,502 -45,485 -38,626 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 64,267 48,482 63,700 59,787 55,928 690,843 0 0 0 0 0 0 336,848 376,382 0 170,902 40,603 766,197 2,153,492 -2,366,564 -2,442,291
Total Non-Current Liabilities 8,614,930 8,183,536 9,201,526 8,965,555 8,444,293 8,127,601 7,744,350 8,020,719 7,687,281 7,080,229 7,116,646 6,710,222 4,311,551 2,070,349 4,101,687 4,020,714 3,715,060 3,250,679 2,826,000 2,367,000 2,442,000
Total Liabilities 9,423,527 8,893,423 9,201,526 8,965,555 8,444,293 8,127,601 7,744,350 8,020,719 7,688,089 7,080,782 7,117,553 6,711,096 4,312,257 4,073,435 4,491,635 4,401,681 4,248,004 3,686,678 3,171,208 2,603,933 2,661,465
Common Stock 1,422 1,420 1,400 1,398 1,395 1,406 1,385 1,381 1,373 1,370 1,320 1,294 1,144 952 859 815 771 773 747 737 726
Retained Earnings 551,436 478,156 485,221 240,821 126,022 282,913 350,777 188,609 94,899 -197,989 -267,085 -345,254 -142,329 -171,648 -282,743 -149,988 -21,942 2,499 151,714 115,788 10,769
Accumulated Other Comprehensive Income/Loss 28,227 16,116 1,424 -26,106 -40,250 -31,503 -26,144 -37,419 -30,510 -31,387 -42,515 -48,631 -108,007 -87,020 -1,175 -1,067 -2,932 -3,366 -3,579 -4,470 -7,096
Total Stockholders Equity 11,884,884 11,783,241 11,253,553 10,933,093 10,752,174 10,990,198 10,632,606 10,388,046 10,171,416 9,840,526 9,046,405 8,599,727 6,840,794 4,401,892 3,310,618 3,050,127 2,916,396 3,026,654 2,631,438 2,541,663 2,385,291
Total Investments 227,831 220,145 212,084 216,390 202,612 165,806 217,432 163,475 175,116 216,919 298,315 353,866 129,352 144,561 121,537 74,570 55,025 57,990 42,724 41,942 41,379
Total Debt 8,550,663 8,135,054 8,316,045 8,103,547 7,564,337 7,296,290 7,040,263 7,329,470 7,030,880 6,456,948 6,525,852 6,145,391 3,851,033 3,632,296 4,101,687 3,974,872 3,550,457 3,208,202 672,508 2,366,564 2,442,291
Net Debt 7,998,307 7,737,164 7,702,856 7,683,296 7,347,361 7,256,603 6,948,604 7,262,382 6,815,886 6,056,441 6,016,392 5,863,850 1,117,415 3,015,406 3,795,261 3,658,505 3,291,152 3,186,980 526,952 2,312,192 2,427,634

Reported Currency: USD TTM 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Cash Flows from Operating Activities
Net Income 1,042,179 928,438 1,136,438 1,004,356 827,706 786,103 974,175 876,660 1,033,708 741,733 697,327 366,271 427,630 441,370 174,079 154,274 411,487 358,160 278,399 322,378 219,745
Depreciation & Amortization 842,008 816,965 814,978 758,596 707,331 661,578 631,196 584,150 531,434 477,923 442,682 560,215 256,026 250,269 232,942 218,286 199,452 181,725 172,991 170,401 167,599
Deferred Income Tax -426,681 0 0 -607,835 -330,158 -152,881 -354,932 -260,433 -424,473 -184,892 -243,745 -171,049 -153,575 0 0 0 0 0 0 0 0
Stock Based Compensation 32,555 27,142 33,864 25,505 21,603 25,621 20,280 17,920 15,082 15,321 13,927 15,160 8,707 0 0 0 0 0 0 0 0
Change in Working Capital -51,021 17,796 10,009 9,997 -25,463 -10,497 20,251 35,830 -2,805 24,059 3,573 -23,149 205 -3,648 -16,354 11,807 -18,274 60,092 25,236 28,750 22,860
Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -3,041 4,594 -10,528
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 458,618 270,375 252,430
Accounts Payable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15,659 9,781 21,958
Other Working Capital -51,021 17,796 10,009 9,997 -25,463 -10,497 20,251 35,830 -2,805 24,059 3,573 -23,149 205 -3,648 -16,354 11,807 -18,274 60,092 -446,000 -256,000 -241,000
Other Non-Cash Items 616,703 -230,312 -573,357 12,551 18,596 11,880 10,141 2,130 -9,462 -17,390 -27,123 -22,947 1,826 -258,600 -58,561 -5,767 -205,810 -144,152 -124,683 -214,890 -134,526
Net Cash Provided by Operating Activities 1,625,335 1,560,029 1,421,932 1,203,170 1,219,615 1,321,804 1,301,111 1,256,257 1,143,484 1,056,754 886,641 724,501 540,819 429,391 332,106 378,600 386,855 455,825 351,943 306,639 275,678
Cash Flows from Investing Activities
Investments in Property, Plant, and Equipment -62,514 -197,274 -174,705 -153,235 -137,036 -140,892 -86,932 -73,990 -72,852 -55,865 -52,825 -26,615 -26,528 -688,568 -462,235 -586,843 -902,327 -1,141,706 -832,337 -899,662 -982,196
Acquisitions Net -5,025 -18,861 -14,269 -53,536 -68 -10,183 -11,017 503,039 532,717 282,163 297,466 16,164 6,586 -46,275 17,192 0 0 0 -74,924 0 -128,238
Purchases of Investments -64,223 0 -1,501,662 -1,481,299 -880,253 -1,483,403 -1,493,290 -1,484,347 -1,628,207 0 0 0 0 -1,701 -73,039 0 0 -15,127 0 0 0
Sales/Maturities of Investments 114,820 0 1,055,404 977,197 825,225 424,820 936,449 503,039 532,717 0 0 0 0 14,109 42,329 77,754 133,259 0 0 469,737 0
Other Investing Activities -1,013,447 -712,820 74,813 86,820 12,699 15,789 -498,702 -1,394,430 -1,497,217 -1,425,815 -1,061,401 -1,170,723 -603,444 279,294 176,817 175,530 502,759 347,586 395,890 410,164 858,751
Net Cash Used for Investing Activities -1,030,389 -928,955 -560,419 -624,053 -179,433 -1,193,869 -596,651 -965,381 -1,037,352 -1,199,517 -816,760 -1,181,174 -623,386 -443,141 -298,936 -333,559 -266,309 -809,247 -511,371 -19,761 -251,683
Cash Flows from Financing Activities
Debt Repayment 361,250 -397,244 205,233 526,934 262,189 252,484 80,280 254,098 450,009 19,484 420,141 -1,375,419 208,986 -390,066 91,097 170,824 350,054 286,370 371,267 -100,863 132,155
Common Stock Issued 9,128 496,706 20,020 31,874 3,464 409,725 52,261 111,093 15,526 690,184 346,134 4,703 2,430,190 1,049,835 381,365 108,860 7,433 621,029 26,551 36,611 54,031
Common Stock Repurchased 0 -1,911 0 0 -183,876 0 0 0 0 0 0 0 0 0 0 0 -142,159 -257,929 0 0 0
Dividends Paid -954,307 -922,657 -889,607 -888,344 -883,212 -839,646 -805,239 -773,117 -727,197 -655,658 -593,643 -526,399 -365,900 -318,425 -298,312 -283,767 -279,192 -271,042 -234,958 -215,391 -209,095
Other Financing Activities -820 -9,253 -6,702 -19,325 -52,829 -40,748 -15,804 -11,021 -30,431 -28,917 331,726 -98,638 -73,944 -15,305 -6,807 -57 -111,247 -12,068 -580 -2,650 -6,562
Net Cash Used Provided by Financing Activities -582,575 -834,359 -671,056 -348,861 -854,264 -218,185 -688,502 -418,947 -291,645 33,810 158,224 -1,995,404 2,199,332 326,233 167,565 -4,285 -75,111 366,360 162,280 -282,293 -29,471
Effect of Forex Changes on Cash -37,025 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Change in Cash 12,371 -203,285 190,457 230,256 185,918 -90,250 15,958 -128,071 -185,513 -108,953 228,105 -2,452,077 2,116,765 312,483 200,735 40,756 45,435 12,938 2,852 4,585 -5,476
Cash at End of Period 2,512,340 530,960 734,245 543,788 313,532 127,614 217,864 201,906 214,994 400,507 509,460 281,541 2,733,618 616,890 306,426 105,691 65,706 21,222 8,567 6,106 1,582
Cash at Start of Period 2,499,969 734,245 543,788 313,532 127,614 217,864 201,906 329,977 400,507 509,460 281,355 2,733,618 616,853 304,407 105,691 64,935 20,271 8,284 5,715 1,521 7,058
Free Cash Flow
Operating Cash Flow 1,625,335 1,560,029 1,421,932 1,203,170 1,219,615 1,321,804 1,301,111 1,256,257 1,143,484 1,056,754 886,641 724,501 540,819 429,391 332,106 378,600 386,855 455,825 351,943 306,639 275,678
Capital Expenditure -62,514 -197,274 -174,705 -153,235 -137,036 -140,892 -86,932 -73,990 -72,852 -55,865 -52,825 -26,615 -26,528 -688,568 -462,235 -586,843 -902,327 -1,141,706 -832,337 -899,662 -982,196
Free Cash Flow 1,562,821 1,362,755 1,247,227 1,049,935 1,082,579 1,180,912 1,214,179 1,182,267 1,070,632 1,000,889 833,816 697,886 514,291 -259,177 -130,129 -208,243 -515,472 -685,881 -480,394 -593,023 -706,518