Essex Property Trust, Inc. (ESS)

ESS Income Statement

Revenue, expenses, and profitability analysis

ESS Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	1.908B	484.756M	479.630M	473.303M	469.833M	477.792M	454.469M	462.347M	442.355M
Cost of Goods Sold	582.909M	141.256M	150.800M	143.436M	147.417M	150.953M	388.822M	146.402M	137.349M
Gross Profit	1.325B	343.500M	328.830M	329.867M	322.416M	326.839M	65.647M	315.945M	305.006M
Gross Profit Margin	70.9%	70.9%	68.6%	69.7%	68.6%	68.4%	14.4%	68.3%	69.0%
Total Operating Expenses	592.470M	188.307M	183.300M	178.147M	42.716M	69.758M	-238.849M	187.155M	167.556M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	85.768M	33.412M	17.141M	18.058M	17.157M	16.292M	31.528M	29.067M	21.136M
Operating Income (EBIT)	732.143M	155.193M	145.530M	151.720M	279.700M	257.081M	304.496M	128.790M	137.450M
Operating Margin	32.0%	32.0%	30.3%	32.1%	59.5%	53.8%	67.0%	27.9%	31.1%
Income Before Tax (EBT)	597.388M	112.208M	80.930M	172.724M	231.526M	212.778M	301.693M	125.487M	98.986M
Interest Income	13.744M	1.036M	—	5.900M	6.808M	4.289M	2.659M	11.449M	9.568M
Interest Expense	258.544M	64.022M	64.600M	64.660M	65.262M	62.732M	61.244M	59.232M	59.120M
Other Income/Expense	-134.755M	-42.985M	-64.600M	21.004M	-48.174M	-44.303M	-2.803M	-3.303M	-38.464M
Net Income	575.564M	106.186M	83.395M	164.621M	221.362M	203.110M	257.453M	118.424M	92.914M
Income Tax Expense	257K	0.00	257K	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit Margin	21.9%	21.9%	17.4%	34.8%	47.1%	42.5%	56.6%	25.6%	21.0%
EBITDA	1.466B	331.125M	298.795M	387.544M	448.289M	310.547M	268.409M	286.878M	303.719M
EBITDA Margin	68.3%	68.3%	62.3%	81.9%	95.4%	65.0%	59.1%	62.0%	68.7%
Depreciation & Amortization	611.150M	154.895M	153.265M	151.489M	151.501M	151.287M	148.435M	146.439M	145.613M
EPS Basic	8.90	1.65	1.25	2.56	3.44	3.16	4.01	1.84	1.45
EPS Diluted	8.90	1.65	1.25	2.56	3.44	3.16	4.01	1.84	1.45
Shares Outstanding	64.455M	64.455M	64.458M	64.404M	64.386M	64.315M	64.228M	64.228M	64.210M
Diluted Shares Outstanding	64.462M	64.462M	64.458M	64.418M	64.386M	64.315M	64.251M	64.271M	64.228M

ESS Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	1.901B	1.774B	1.669B	1.607B	1.441B	1.496B	1.460B	1.400B
Cost of Goods Sold	592.606M	566.815M	532.048M	497.737M	232.246M	211.584M	189.237M	183.625M
Gross Profit	1.308B	1.208B	1.137B	1.109B	1.208B	1.284B	1.271B	1.216B
Gross Profit Margin	68.8%	68.1%	68.1%	69.0%	83.9%	85.9%	87.0%	86.9%
Total Operating Expenses	473.921M	504.540M	553.005M	513.848M	678.315M	792.723M	789.806M	704.439M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	68.648M	98.902M	63.474M	56.577M	51.838M	65.388M	54.262M	53.451M
Operating Income (EBIT)	834.031M	703.095M	584.342M	595.229M	529.995M	491.441M	481.112M	511.989M
Operating Margin	43.9%	39.6%	35.0%	37.0%	36.8%	32.9%	32.9%	36.6%
Income Before Tax (EBT)	697.958M	811.306M	430.708M	432.985M	515.691M	864.252M	707.262M	646.370M
Interest Income	16.997M	80.951M	46.259M	—	98.744M	40.999M	46.298M	23.010M
Interest Expense	257.254M	235.529M	212.905M	223.838M	203.125M	220.633M	217.339M	220.492M
Other Income/Expense	-136.073M	108.211M	-153.634M	-162.244M	-14.304M	372.811M	226.150M	134.381M
Net Income	672.488M	741.522M	405.825M	408.315M	488.554M	568.870M	439.286M	390.153M
Income Tax Expense	257K	0.00	0.00	0.00	0.00	1.531M	1.457M	0.00
Net Profit Margin	35.4%	41.8%	24.3%	25.4%	33.9%	38.0%	30.1%	27.9%
EBITDA	1.563B	1.627B	1.192B	1.196B	1.504B	1.610B	1.408B	1.347B
EBITDA Margin	82.2%	91.7%	71.4%	74.4%	104.4%	107.7%	96.5%	96.2%
Depreciation & Amortization	607.542M	580.220M	548.438M	539.319M	520.066M	525.497M	483.750M	479.884M
EPS Basic	10.41	11.55	6.32	6.27	7.51	8.69	6.67	5.91
EPS Diluted	10.41	11.54	6.32	6.27	7.51	8.68	6.66	5.90
Shares Outstanding	64.458M	64.228M	64.252M	65.080M	65.051M	65.454M	65.840M	66.041M
Diluted Shares Outstanding	64.458M	64.251M	64.253M	65.098M	65.089M	65.565M	65.939M	66.085M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Essex Property Trust, Inc.

Essex Property Trust, Inc., a prominent S&P 500 constituent, operates as a vertically integrated real estate investment trust (REIT). The company focuses on the purchase, construction, renovation, and ongoing management of residential apartment complexes across select West Coast regions. Currently, Essex maintains ownership interests in 246 apartment communities, offering a total of roughly 60,000 homes, with an additional six properties actively advancing through various stages of development.

San Mateo, CA

1,712 employees

www.essexapartmenthomes.com

Real Estate / REIT - Residential

Sector: Real Estate
Industry: REIT - Residential
CEO: Angela L. Kleiman

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