undamentalytics Newsletter
Sign in

Apartment Investment & Management Co key statistics and ratios

In fiscal 2025, Apartment Investment & Management Co had a net margin of 395.1% and debt equal to 126.4% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJan 2026
Operating margin7.9%10.7%14.8%18.7%25.6%26.7%26.1%24.8%19.3%—10.5%−9.5%−9.2%62.3%94.5%85.5%——
Net margin−6.1%−7.5%−6.2%13.8%21.3%31.4%25.3%43.2%31.4%2.5%0.2%−3.3%−3.5%39.2%−138.6%−75.5%395.1%557.3%
Free-cash-flow margin——6.4%4.9%−2.5%−4.7%−0.7%3.0%3.4%11.8%12.9%15.8%−97.3%−17.5%−185.1%−82.1%−66.1%—
Return on equity−5.2%−6.3%−5.8%14.5%22.0%28.2%17.5%25.2%18.3%0.2%0.0%−1.0%−1.2%14.2%−37.0%−44.0%—147.4%
Return on assets−0.8%−0.9%−0.8%2.0%3.3%5.1%4.1%7.0%5.1%0.1%0.0%−0.3%−0.3%3.2%−7.8%−5.1%30.1%—
Asset turnover0.130.130.130.140.160.160.160.160.160.020.040.100.080.080.060.070.08—
Debt to equity442.0%505.9%536.2%482.1%453.6%336.8%237.3%217.4%258.5%239.8%108.9%196.5%237.2%191.3%328.3%674.8%126.4%—
Interest cover (operating income ÷ interest)0.3x0.4x0.5x0.8x1.1x1.2x1.3x1.3x1.0x—0.8xn/mn/m1.6x4.2x2.0x——
Effective tax rate————−6.0%−42.3%−43.1%−4.1%−9.8%7.1%———15.8%————
Capital spending as % of revenue——21.9%28.2%36.0%37.3%37.4%34.8%35.6%28.6%27.4%15.8%104.7%124.8%227.2%116.2%71.9%—
Free cash flow ÷ net income———35.2%−11.9%−14.8%−2.9%6.9%10.8%482.3%>999%——−44.6%——−16.7%—
Dividends ÷ net income———78.5%67.6%49.2%74.0%47.9%71.4%>999%>999%——4.1%——75.9%—
Dividends and buybacks ÷ free cash flow——98.5%223.1%———690.9%663.5%>999%>999%———————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

38 /100

Weak moat

How hard Apartment Investment & Management's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 2.1% of total assets over 9 years.

  • Durability 8 / 20

    Operating margin has been a median 25.7%; its worst year was -42.2%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -7.9% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 4.5% over five years; stock-based pay has been a median 3.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AIV vs BRTAIV vs NENAIV vs CLPR

More: Multi-Family Residential REITs stocks compared, Real Estate sector, rankings of US companies

Figures from Apartment Investment & Management Co's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Apartment Investment & Management Co.