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 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 2003-12-31
Revenue 2,732,876 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 1,038,660 968,711 895,266 851,582 854,208 812,741 737,300 670,680 648,454 609,651
Revenue Growth - 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% 6.36%
Cost of Revenue 966,892 919,114 853,942 823,102 768,106 762,851 719,385 678,452 637,876 584,821 507,029 362,196 353,308 363,334 335,875 240,864 242,702 0 0 0 0
Gross Profit 1,765,984 1,674,332 1,440,908 1,478,159 1,556,520 1,521,684 1,439,243 1,366,803 1,218,152 1,100,240 955,892 676,464 615,403 531,932 515,707 613,344 570,039 737,300 670,680 648,454 609,651
Gross Profit Margin 64.63% 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% 100.00%
Research and Development 29,912 16,565 0 0 0 0 0 0 0 0 0 0 2,967 0 5,842 0 0 0 0 0 0
General and Administrative Expenses 79,283 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 13,734
Total Operating Expenses 922,698 905,607 828,207 767,674 719,620 687,401 634,964 577,205 520,319 484,107 599,788 290,127 284,130 259,417 248,180 -20,313 282,955 466,815 441,628 430,777 535,468
Operating Income or Loss 857,584 822,119 651,286 716,907 845,552 826,414 798,484 784,776 693,463 611,648 352,114 368,916 331,273 272,515 241,617 281,848 287,084 270,485 229,052 217,677 74,183
Operating Margin 31.38% 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% 12.17%
Interest Expense 213,982 230,074 220,415 214,151 203,585 220,974 199,661 187,510 175,615 180,618 172,402 136,920 168,179 175,209 150,323 114,878 97,545 111,046 127,099 131,314 134,911
EBITDA 1,671,087 1,637,097 1,409,882 1,424,238 1,507,130 1,480,749 1,459,173 1,385,994 1,245,774 1,207,581 901,175 657,206 580,215 505,457 519,505 827,807 468,264 416,438 399,453 385,276 232,163
Depreciation and Amortization 813,503 814,978 758,596 707,331 661,578 631,196 584,150 531,434 477,923 442,682 560,215 256,026 246,666 232,942 209,746 194,150 181,725 172,991 170,401 167,599 157,980
Income Before Tax 941,934 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 98,068 200,826 411,487 247,668 278,399 322,378 219,745 271,525
Income Tax Expense 14,398 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 -26,288
Net Income 928,149 1,136,775 1,004,299 827,630 785,974 974,525 876,921 1,034,002 742,038 683,567 353,141 423,869 441,622 175,331 155,647 411,487 358,160 278,399 322,378 219,745 271,525
Net Income Margin 33.93% 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% 44.54%
EPS 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 3.80
EPS Diluted 6.57 8.12 7.19 5.89 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 3.73
Weighted Average Shares Out - 140,426 139,681 140,426 139,420 138,248 137,911 137,275 133,886 130,878 126,856 97,416 89,922 83,860 79,951 76,784 78,680 74,126 72,952 71,541 68,627
Weighted Average Shares Out Diluted - 140,435 139,717 140,435 139,572 138,289 138,067 137,462 134,593 131,238 127,266 98,025 90,777 84,633 80,600 77,579 79,857 75,587 74,759 72,276 69,914

Reported Currency: USD Q3 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 2003-12-31
Current Assets
Cash and Cash Equivalents 508,571 613,189 420,251 216,976 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 19,021
Short Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash + Short Term Investments 508,571 613,189 420,251 216,976 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 19,021
Net Receivables 0 -122,122 18,594 18,159 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Inventory 0 32,532 -54,190 -80,348 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 247,461 211,484 207,715 164,971 292,736 420,882 403,988 333,993 326,451 322,258 218,623 73,439 173,343 210,676 193,599 189,171 0 0 0 0
Total Current Assets 780,106 771,060 596,139 362,502 161,838 249,680 234,592 362,048 535,405 634,702 406,694 2,808,399 690,329 479,769 316,367 259,305 210,393 145,556 54,372 14,657 19,021
Non-Current Assets
Property, Plant and Equipment 135,779 143,331 146,599 155,266 124,961 0 0 0 0 0 0 0 7,425,030 6,955,645 6,833,487 6,649,743 6,297,182 5,478,057 4,945,788 4,877,825 4,736,389
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 217,449 212,084 216,390 202,612 165,806 217,432 163,475 175,116 216,919 298,315 353,866 129,352 144,561 121,537 74,570 55,025 57,990 42,724 41,942 41,379 19,735
Tax Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 19,569,504 19,331,289 18,942,888 18,478,764 18,668,446 17,913,088 18,016,754 17,330,107 16,178,981 15,243,706 14,567,583 8,222,327 222,470 264,537 233,181 209,301 170,919 -5,520,781 -4,987,730 -4,919,204 -4,756,124
Total Non-Current Assets 19,922,732 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 4,756,124
Other Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141,579 122,958 134,420 134,437
Total Assets 20,702,838 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 4,909,582
Current Liabilities
Accounts Payable 0 72,802 63,722 93,609 92,135 96,983 85,377 100,998 98,802 101,946 94,472 53,677 36,775 34,433 49,623 64,257 91,580 59,232 62,852 23,005 26,912
Short Term Debt 69,989 0 0 0 0 0 0 0 0 0 0 0 2,003,086 0 2,316,843 3,550,457 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 0 0 0 0 0 0 0 0 0 0 1,599,205 0 0 0 0 0 0 0 0
Other Current Liabilities 0 586,308 -63,722 -93,609 -92,135 548,689 547,399 -100,190 -98,249 -101,039 -93,598 -52,971 -1,635,980 355,515 -1,979,702 -3,081,770 344,419 386,768 193,148 217,995 233,088
Total Current Liabilities 69,989 659,110 64,026 93,920 92,510 645,672 632,776 808 553 907 874 706 2,003,086 389,948 386,764 532,944 435,999 446,000 256,000 241,000 260,000
Non-Current Liabilities
Long Term Debt 7,877,005 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 1,629,210 4,101,687 1,658,029 3,674,457 3,208,202 672,508 2,366,564 2,442,291 2,337,817
Deferred Revenue 0 0 0 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 0
Deferred Tax 0 0 0 -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 0
Other Non-Current Liabilities 976,514 885,481 862,008 879,956 831,311 704,087 691,249 656,401 623,281 590,794 564,831 460,518 441,139 0 2,362,685 40,603 42,477 2,153,492 436 -291 183
Total Non-Current Liabilities 8,853,519 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 2,338,000
Total Liabilities 8,923,508 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 2,573,496
Common Stock 1,420 1,400 1,398 1,395 1,406 1,385 1,381 1,373 1,370 1,320 1,294 1,144 952 859 815 771 773 747 737 726 709
Retained Earnings 0 485,221 240,821 126,022 282,913 350,777 188,609 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 2,024
Accumulated Other Comprehensive Income/Loss 26,474 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 -8,212
Total Stockholders Equity 11,777,601 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 2,311,334
Total Investments 217,449 212,084 216,390 202,612 165,806 217,432 163,475 175,116 216,919 298,315 353,866 129,352 144,561 121,537 74,570 55,025 57,990 42,724 41,942 41,379 19,735
Total Debt 7,946,994 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 2,337,817
Net Debt 7,438,423 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 2,318,796

Reported Currency: USD TTM 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 2003-12-31
Cash Flows from Operating Activities
Net Income 1,250,378 1,136,438 1,004,356 827,706 786,103 974,175 876,660 1,033,708 741,733 697,327 366,271 427,630 441,370 174,079 154,274 411,487 358,160 278,399 322,378 219,745 271,525
Depreciation & Amortization 819,179 814,978 758,596 707,331 661,578 631,196 584,150 531,434 477,923 442,682 560,215 256,026 250,269 232,942 218,286 199,452 181,725 172,991 170,401 167,599 157,980
Deferred Income Tax -185,327 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 0
Stock Based Compensation 31,298 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 0
Change in Working Capital 28,048 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 -23,242
Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -3,041 4,594 -10,528 -7,025
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 458,618 270,375 252,430 248,379
Accounts Payable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15,659 9,781 21,958 -4,596
Other Working Capital 0 0 0 0 0 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 -260,000
Other Non-Cash Items -419,113 -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 -166,448
Net Cash Provided by Operating Activities 1,524,463 1,421,932 1,203,170 1,219,615 1,321,804 1,301,111 1,256,257 1,143,484 1,056,754 886,641 724,501 540,819 429,391 332,106 378,600 386,855 455,825 351,943 306,639 275,678 239,815
Cash Flows from Investing Activities
Investments in Property, Plant, and Equipment -186,536 -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 -726,907
Acquisitions Net -15,152 -14,269 -53,536 0 -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 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 -1,701 -73,039 0 0 -15,127 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 14,109 42,329 77,754 133,259 0 0 469,737 0 0
Other Investing Activities -300,100 -371,445 -417,282 -42,397 -1,042,794 -498,702 -1,394,430 -1,497,217 -1,425,815 -1,061,401 -1,170,723 -603,444 279,294 176,817 175,530 502,759 347,586 395,890 410,164 858,751 760,842
Net Cash Used for Investing Activities -501,788 -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 33,935
Cash Flows from Financing Activities
Debt Repayment -294,306 -143,332 -571,709 -1,085,392 -227,570 -515,101 -1,631,976 -669,415 -850,963 -182,859 -2,210,347 -491,014 -390,066 -158,903 -1,057,793 -676,992 -27,256 -19,525 -43,224 -49,588 -6,059
Common Stock Issued 512,969 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 54,031 146,934
Common Stock Repurchased -1,911 0 1,098,643 -183,876 480,054 595,381 1,903,626 1,122,488 873,088 603,000 834,928 700,000 0 250,000 1,241,140 -142,159 -257,929 113,849 26,269 181,743 -203,601
Dividends Paid -899,150 -890,031 -888,698 -883,644 -840,131 -805,707 -773,117 -727,197 -655,658 -593,931 -526,399 -365,900 -318,425 -298,312 -283,767 -279,192 -271,042 -234,958 -215,391 -209,095 -202,416
Other Financing Activities 346,530 342,287 -18,971 1,295,184 -40,263 -15,336 -28,573 -33,047 -22,841 -14,120 -98,289 -73,944 -15,111 -6,585 -12,725 1,015,799 301,558 276,363 -86,558 -6,562 -14,323
Net Cash Used Provided by Financing Activities -335,868 -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 -279,465
Effect of Forex Changes on Cash 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Change in Cash 686,807 190,457 230,256 185,918 -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 -5,715
Cash at End of Period 2,544,433 734,245 543,788 313,532 127,614 217,864 201,906 214,994 400,507 509,460 281,541 2,733,618 616,890 306,426 105,691 65,706 21,222 8,567 6,106 1,582 7,196
Cash at Start of Period 1,857,626 543,788 313,532 127,614 217,864 201,906 329,977 400,507 509,460 281,355 2,733,618 616,853 304,407 105,691 64,935 20,271 8,284 5,715 1,521 7,058 12,911
Free Cash Flow
Operating Cash Flow 1,524,463 1,421,932 1,203,170 1,219,615 1,321,804 1,301,111 1,256,257 1,143,484 1,056,754 886,641 724,501 540,819 429,391 332,106 378,600 386,855 455,825 351,943 306,639 275,678 239,815
Capital Expenditure -186,536 -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 -726,907
Free Cash Flow 1,337,927 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 -487,092