AVB
AvalonBay Communities Inc
NYSE: AVB · REAL ESTATE · REIT - RESIDENTIAL
$184.37
+0.47% today
Updated 2026-04-29
Market cap
$25.84B
P/E ratio
22.82
P/S ratio
8.43x
EPS (TTM)
$8.08
Dividend yield
3.83%
52W range
$159 – $205
Volume
1.0M
AvalonBay Communities Inc (AVB) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $721.43M | $766.66M | $814.22M | $829.92M | $842.82M | $900.09M | $1.00B | $1.46B | $1.69B | $1.86B | $2.05B | $2.16B | $2.28B | $2.32B | $2.30B | $2.29B | $2.59B | $2.77B | $2.91B | $3.04B |
| Revenue growth (YoY) | — | +6.3% | +6.2% | +1.9% | +1.6% | +6.8% | +11.2% | +46.2% | +15.2% | +10.1% | +10.2% | +5.5% | +5.8% | +1.8% | -1.0% | -0.3% | +13.0% | +6.7% | +5.3% | +4.3% |
| Cost of revenue | $217.13M | $302.25M | $322.80M | $327.74M | $334.12M | $335.84M | $356.90M | $511.02M | $589.31M | $642.25M | $683.27M | $722.30M | $766.56M | $768.11M | $823.10M | $853.94M | $919.11M | $988.13M | $1.07B | $1.00B |
| Gross profit | $504.30M | $464.41M | $491.43M | $502.18M | $508.70M | $564.25M | $643.72M | $951.90M | $1.10B | $1.21B | $1.36B | $1.44B | $1.52B | $1.56B | $1.48B | $1.44B | $1.67B | $1.78B | $1.84B | $2.04B |
| Gross margin | 69.9% | 60.6% | 60.4% | 60.5% | 60.4% | 62.7% | 64.3% | 65.1% | 65.0% | 65.4% | 66.6% | 66.5% | 66.4% | 67.0% | 64.2% | 62.8% | 64.6% | 64.3% | 63.2% | 67.0% |
| R&D | — | — | — | $5.84M | $0.00 | $2.97M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $12.40M | $3.23M | $16.57M | $0.00 | — | — |
| SG&A | $24.77M | $28.49M | $42.78M | $28.75M | $26.85M | $29.37M | $34.10M | $39.57M | $41.42M | $42.77M | $45.77M | $53.70M | $60.37M | $58.04M | $60.34M | $69.61M | $74.06M | $76.53M | $77.70M | $86.68M |
| Operating income | $252.30M | $267.60M | $266.74M | $268.95M | $261.29M | $308.15M | $365.94M | $352.11M | $611.65M | $693.09M | $784.78M | $798.48M | $826.41M | $836.90M | $710.49M | $612.70M | $785.29M | $886.28M | $915.75M | $913.86M |
| Operating margin | 35.0% | 34.9% | 32.8% | 32.4% | 31.0% | 34.2% | 36.6% | 24.1% | 36.3% | 37.3% | 38.4% | 37.0% | 36.2% | 36.0% | 30.9% | 26.7% | 30.3% | 32.0% | 31.4% | 30.1% |
| EBITDA | $416.43M | $449.32M | $466.19M | $487.24M | $482.62M | $534.76M | $631.03M | $790.44M | $1.29B | $1.40B | $1.75B | $1.66B | $1.83B | $1.66B | $1.75B | $1.99B | $2.20B | $1.96B | $2.16B | $2.23B |
| EBITDA margin | 57.7% | 58.6% | 57.3% | 58.7% | 57.3% | 59.4% | 63.1% | 54.0% | 76.7% | 75.3% | 85.7% | 76.9% | 79.9% | 71.6% | 75.9% | 86.7% | 84.7% | 70.9% | 74.0% | 73.3% |
| EBIT | $252.30M | $267.60M | $266.74M | $268.95M | $262.05M | $308.03M | $387.35M | $230.23M | $849.13M | $918.83M | $1.22B | $1.08B | $1.19B | $1.00B | $1.04B | $1.23B | $1.38B | $1.14B | $1.31B | $1.31B |
| Interest expense | $111.05M | $97.55M | $114.88M | $150.32M | $175.21M | $168.18M | $136.92M | $172.40M | $180.62M | $175.62M | $187.51M | $199.66M | $220.97M | $203.59M | $214.15M | $220.41M | $230.07M | $205.99M | $226.59M | $259.18M |
| Income tax | $-7.91M | $-13.49M | $227.48M | $113.32M | $97.95M | $-105.23M | $-7.35M | $-138.06M | $9.37M | $1.86M | $305000.00 | $141000.00 | $-160000.00 | $13.00M | $-3.25M | $5.73M | $14.65M | $10.15M | $445000.00 | $-1.14M |
| Effective tax rate | -2.9% | -3.9% | 35.6% | 42.1% | 35.8% | -31.3% | -1.8% | -64.2% | 1.4% | 0.3% | 0.0% | 0.0% | -0.0% | 1.6% | -0.4% | 0.6% | 1.3% | 1.1% | 0.0% | -0.1% |
| Net income | $278.40M | $358.16M | $411.49M | $155.65M | $175.33M | $441.62M | $423.87M | $353.14M | $683.57M | $742.04M | $1.03B | $876.92M | $974.52M | $785.97M | $827.63M | $1.00B | $1.14B | $928.83M | $1.08B | $1.05B |
| Net income growth (YoY) | — | +28.6% | +14.9% | -62.2% | +12.6% | +151.9% | -4.0% | -16.7% | +93.6% | +8.6% | +39.3% | -15.2% | +11.1% | -19.3% | +5.3% | +21.3% | +13.2% | -18.3% | +16.5% | -2.7% |
| Profit margin | 38.6% | 46.7% | 50.5% | 18.8% | 20.8% | 49.1% | 42.4% | 24.1% | 40.6% | 40.0% | 50.6% | 40.6% | 42.7% | 33.8% | 36.0% | 43.8% | 43.8% | 33.6% | 37.1% | 34.6% |