Essex Property Trust income statement
In fiscal 2025, Essex Property Trust reported revenue of $1.89bn, up 6.4% on the year before, operating income of $899m (a 47.6% margin) and net income of $670m, or $10.40 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 409 | 410 | 467 | 535 | 611 | 971 | 1,194 | 1,294 | 1,364 | 1,400 | 1,460 | 1,496 | 1,441 | 1,607 | 1,669 | 1,774 | 1,887 | 1,946 |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — | — | 1,128 | 1,171 | 1,243 | 1,319 | 1,364 |
| General and administrative | 28 | 23 | 21 | 25 | 27 | 41 | 40 | 41 | 41 | 53 | 54 | 65 | 52 | 57 | 63 | 99 | 72 | 130 |
| Operating income | 112 | 111 | 135 | 167 | 189 | 202 | 331 | 421 | 473 | 512 | 481 | 491 | 530 | 595 | 584 | 703 | 899 | 573 |
| Interest expense | 81 | 83 | 92 | 112 | 117 | 165 | 205 | 220 | 223 | 220 | 217 | 221 | 203 | 205 | 213 | 236 | 258 | 263 |
| Provision for credit losses | 13 | 0 | 0 | — | — | — | — | — | — | 0 | 0 | 1 | 0 | 0 | 0 | −0 | 0 | −0 |
| Income tax | 0 | 0 | −2 | 0 | 0 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | 37 | 36 | 47 | 125 | 156 | 122 | 232 | 415 | 433 | 390 | 439 | 569 | 489 | 408 | 406 | 742 | 670 | 347 |
| Diluted EPS | $2.91 | $1.14 | $1.24 | $3.41 | $4.04 | $2.06 | $3.49 | $6.27 | $6.57 | $5.90 | $6.66 | $8.69 | $7.51 | $6.27 | $6.32 | $11.54 | $10.40 | $5.40 |
| Diluted shares (average) | 30m | 30m | 33m | 35m | 37m | 57m | 65m | 66m | 66m | 66m | 66m | 66m | 65m | 65m | 64m | 64m | 64m | 64m |
| EBITDA | 229 | 239 | 285 | 336 | 381 | 562 | 785 | 862 | 942 | 992 | 965 | 1,017 | 1,050 | 1,135 | 1,133 | 1,283 | 1,507 | 1,188 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 454 | 465 | 470 | 473 | 480 | 485 | 489 | 493 |
| Gross profit | 318 | 323 | 332 | 328 | 336 | 341 | 346 | 341 |
| General and administrative | 32 | 16 | 17 | 18 | 20 | 20 | 73 | 17 |
| Operating income | 304 | 257 | 280 | 210 | 152 | 155 | 109 | 157 |
| Interest expense | 61 | 63 | 65 | 65 | 66 | 66 | 67 | 65 |
| Provision for credit losses | −0 | −0 | 0 | 0 | −0 | 0 | −0 | 0 |
| Net income | 257 | 203 | 221 | 165 | 81 | 106 | 62 | 98 |
| Diluted EPS | $4.00 | $3.16 | $3.44 | $2.56 | $1.25 | $1.65 | $0.97 | $1.52 |
| EBITDA | 453 | 408 | 431 | 362 | 305 | 310 | 263 | 309 |
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