American Homes 4 Rent key statistics and ratios

In fiscal 2020, American Homes 4 Rent had return on equity of 1.5%, a net margin of 7.2% and debt equal to 49.2% 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.

American Homes 4 Rent: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020
Net margin	−3.8%	−2.3%	2.2%	7.5%	7.2%
Free-cash-flow margin	27.2%	35.2%	33.4%	38.1%	38.6%
Return on equity	−0.8%	−0.5%	0.5%	1.6%	1.5%
Return on assets	−0.4%	−0.3%	0.3%	0.9%	0.9%
Asset turnover	0.11	0.11	0.12	0.13	0.13
Debt to equity	71.1%	48.9%	54.1%	53.8%	49.2%
Capital spending as % of revenue	4.5%	5.0%	4.9%	1.9%	1.4%
Free cash flow ÷ net income	—	—	>999%	507.5%	536.3%
Dividends ÷ net income	—	—	248.7%	69.6%	71.6%
Dividends and buybacks ÷ free cash flow	60.4%	11.5%	26.0%	13.7%	13.4%

US$ thousands unless shown otherwise. Fiscal quarters.

American Homes 4 Rent: financial ratios, quarterly
Quarter	2019 Q1Mar 2019	2019 Q2Jun 2019	2019 Q3Sept 2019	2019 Q4Dec 2019	2020 Q1Mar 2020	2020 Q2Jun 2020	2020 Q3Sept 2020	2020 Q4Dec 2020
Net margin	5.8%	8.0%	7.9%	8.3%	7.0%	5.4%	7.3%	9.0%
Free-cash-flow margin	49.5%	47.1%	43.6%	12.3%	43.4%	51.4%	46.7%	13.6%
Debt to equity	56.0%	53.5%	53.3%	53.1%	55.0%	55.3%	48.9%	48.7%

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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

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

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Figures from American Homes 4 Rent'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 American Homes 4 Rent.