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Overview

ESSEX PROPERTY TRUST, INC.

ESSNYSEReal EstateReal Estate Investment TrustsCIK 0000920522Large-cap benchmark

Latest 10-K: FY2025, filed Feb 20, 2026 · Open the 10-K (Inline XBRL) ↗

Revenue
$1.89B
6.4%YoYup from FY2024
TotalRevenue
Gross profit
$1.32B
6.1%YoYup from FY2024
GrossProfit
Operating income
$0.90B
27.9%YoYup from FY2024
OperatingIncome
Net income
$0.67B
9.7%YoYdown from FY2024
NetIncome
Diluted EPS
$10.40
9.9%YoYdown from FY2024
EPSDiluted
Diluted shares
64.4M
0.2%YoYup from FY2024
WeightedAvgSharesDiluted

At a glance

Growth

  • ESSEX PROPERTY TRUST, INC. reported revenue of $1.89B for fiscal 2025, up 6.4% from fiscal 2024.
  • Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.

Profitability

  • Operating margin was 47.6% and net margin was 35.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

  • Diluted EPS was $10.40, down 9.9% from the prior year.
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Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Revenue
$1.89B6.4%up
Benchmark median 6.4%
$1.77B6.3%up
Benchmark median 4.5%
$1.67B3.9%up
Benchmark median 4.8%
$1.61B11.5%up
Benchmark median 10.3%
$1.44B3.7%down
Benchmark median 13.8%
7.0%
Benchmark median 6.6%
Gross Profit
Median of 315 / 498
$1.32B6.1%up
Benchmark median 6.8%
$1.24B6.2%up
Benchmark median 5.5%
$1.17B3.7%up
Benchmark median 5.2%
$1.13B
Benchmark median 8.3%
—
—
Benchmark median 6.2%
Operating Income
Median of 373 / 498
$899.32M27.9%up
Benchmark median 7.3%
$703.10M20.3%up
Benchmark median 7.4%
$584.34M1.8%down
Benchmark median 4.9%
$595.23M12.3%up
Benchmark median 7.5%
$530.00M7.8%up
Benchmark median 23.5%
14.1%
Benchmark median 7.2%
Net Income
$669.67M§9.7%down
Benchmark median 4.8%
$741.52M§82.7%up
Benchmark median 5.7%
$405.82M§0.6%down
Benchmark median 1.9%
$408.31M§16.4%down
Benchmark median 1.3%
$488.55M§14.1%down
Benchmark median 33.9%
8.2%
Benchmark median 4.1%
EPS (Diluted)
$10.409.9%down
Benchmark median 6.2%
$11.5482.6%up
Benchmark median 7.9%
$6.320.8%up
Benchmark median 1.9%
$6.2716.5%down
Benchmark median 1.5%
$7.5113.6%down
Benchmark median 34.8%
8.5%
Benchmark median 5.6%

§ Net income available to common stockholders; the company files no net-income line.

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Total Assets
$13.16B1.8%up
Benchmark median 5.6%
$12.93B4.6%up
Benchmark median 3.4%
$12.36B0.1%down
Benchmark median 4.1%
$12.37B4.8%down
Benchmark median 2.2%
$13.00B0.5%up
Benchmark median 6.7%
0.3%
Benchmark median 4.7%
Total Liabilities
Median of 357 / 498
$7.42B3.4%up
Benchmark median 6.4%
$7.18B6.5%up
Benchmark median 1.9%
$6.74B4.4%up
Benchmark median 2.9%
$6.45B5.0%down
Benchmark median 2.0%
$6.79B1.0%up
Benchmark median 5.2%
2.3%
Benchmark median 4.4%
Stockholders' Equity
$5.71B0.2%down
Benchmark median 6.8%
$5.72B2.3%up
Benchmark median 5.4%
$5.59B5.1%down
Benchmark median 7.3%
$5.90B4.6%down
Benchmark median 2.5%
$6.18B0.1%down
Benchmark median 9.0%
-2.0%
Benchmark median 6.1%
Cash & Equivalents
$76.24M14.1%up
Benchmark median 5.2%
$66.80M82.9%down
Benchmark median 1.9%
$391.75M1076.6%up
Benchmark median 6.7%
$33.30M31.2%down
Benchmark median -8.6%
$48.42M34.2%down
Benchmark median -2.9%
12.0%
Benchmark median 2.0%
Total Debt
—
—
—
—
$638.96M†0.7%down
Benchmark median -0.1%
—
Benchmark median 4.3%

† Sum of short-term and long-term debt; the company files no total-debt line.

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Operating Cash Flow
$1.07B0.6%up
Benchmark median 6.3%
$1.07B9.0%up
Benchmark median 4.8%
$0.98B0.5%up
Benchmark median 9.9%
$0.98B7.8%up
Benchmark median -0.7%
$0.91B12.7%up
Benchmark median 10.7%
4.4%
Benchmark median 7.0%
Capital Expenditures
—
—
—
—
—
—
Benchmark median 9.0%
Free Cash Flow
Median of 378 / 498
—
—
—
—
—
—
Benchmark median 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

4.0%

Wall Street

on net earnings

FY2024 4.0%

— Not reported

Value investor

on free cash flow

FY2024 — Not reported

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 25.2×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

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Smart money

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Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.

Peers, filings & research

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Research Reports

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Cite this page

Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/ESS

APA-style text
Valuein. (2026, October 30). ESSEX PROPERTY TRUST, INC. (ESS) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/ESS
BibTeX
@misc{valuein_ess_2026,
  author = {{Valuein}},
  title = {ESSEX PROPERTY TRUST, INC. (ESS) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/ESS}},
  note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}
Open 10-K in SEC Inline XBRL viewer

10-K filed Feb 20, 2026 · accession 0000920522-26-000003

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing

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