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Essex Property Trust Inc (ESS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Multi-Family Residential REITs · DATA UPDATED 2026-07-18

Essex Property Trust Inc (ESS) operates in the Multi-Family Residential REITs industry and is headquartered in San Mateo, United States with about 1,686 employees. Its market capitalization is roughly $20 billion. In the fiscal year ended 2025-12-31, ESS reported $1.9B in revenue and $672M in net income.

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust. The firm acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.

Interactive charts & full statements → Open the ESS valuation workbench →

ESS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$1.9B	$1.9B	$1.8B	$1.7B	$1.6B	$1.4B	$1.5B	$1.5B	$1.4B	$1.4B	$1.3B	$1.2B	$971M	$611M	$535M	$467M	$410M	$411M	$408M	$379M	$340M
Gross Profit	$1.3B	$1.3B	$1.2B	$1.1B	$1.1B	$1.2B	$1.3B	$1.3B	$1.2B	$1.2B	$1.1B	$831M	$658M	$413M	$363M	$305M	$264M	$272M	$276M	$256M	$340M
Gross Margin %	69.4%	68.8%	68.1%	68.1%	69.0%	83.9%	85.9%	87.0%	86.9%	87.1%	86.9%	69.6%	67.8%	67.7%	67.8%	65.3%	64.5%	66.0%	67.6%	67.5%	100.0%
Operating Income (EBIT)	$732M	$834M	$703M	$584M	$595M	$530M	$491M	$481M	$512M	$473M	$421M	$331M	$202M	$189M	$167M	$135M	$111M	$113M	$138M	$49M	$48M
Operating Margin %	38.4%	43.9%	39.6%	35.0%	37.0%	36.8%	32.9%	33.0%	36.6%	34.7%	32.5%	27.7%	20.8%	30.9%	31.2%	28.8%	27.0%	27.4%	33.8%	13.0%	14.0%
Net Income	$576M	$672M	$742M	$406M	$408M	$489M	$569M	$439M	$390M	$433M	$415M	$232M	$122M	$156M	$125M	$47M	$36M	$37M	$65M	$116M	$63M
Net Margin %	30.2%	35.4%	41.8%	24.3%	25.4%	33.9%	38.0%	30.1%	27.9%	31.8%	32.1%	19.4%	12.6%	25.6%	23.4%	10.1%	8.8%	9.0%	16.0%	30.5%	18.5%
EBITDA	$1.5B	$1.6B	$1.6B	$1.2B	$1.2B	$1.5B	$1.6B	$1.4B	$1.3B	$1.4B	$1.3B	$906M	$660M	$451M	$410M	$303M	$266M	$250M	$279M	$222M	$204M
Earnings Per Share (EPS)	$8.93	$10.43	$11.54	$6.32	$6.27	$7.51	$8.68	$6.66	$5.90	$6.57	$6.33	$3.57	$2.15	$4.19	$3.35	$1.44	$1.21	$1.25	$2.57	$4.61	$2.66
Shares Outstanding (M)	64M	64M	64M	64M	65M	65M	66M	66M	66M	66M	66M	65M	57M	37M	37M	33M	30M	30M	25M	25M	24M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ESS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$485M	$480M	$473M	$470M	$478M	$454M	$462M	$442M
Gross Profit	$344M	$329M	$330M	$322M	$327M	$66M	$316M	$305M
Gross Margin %	70.9%	68.6%	69.7%	68.6%	68.4%	14.4%	68.3%	69.0%
Operating Income (EBIT)	$155M	$146M	$152M	$280M	$257M	$304M	$129M	$137M
Operating Margin %	32.0%	30.3%	32.1%	59.5%	53.8%	67.0%	27.9%	31.1%
Net Income	$106M	$83M	$165M	$221M	$203M	$257M	$118M	$93M
Net Margin %	21.9%	17.4%	34.8%	47.1%	42.5%	56.6%	25.6%	21.0%
EBITDA	$331M	$299M	$388M	$448M	$311M	$268M	$287M	$304M
Earnings Per Share (EPS)	$1.65	$1.29	$2.56	$3.44	$3.16	$4.01	$1.84	$1.45
Shares Outstanding (M)	64M	64M	64M	64M	64M	64M	64M	64M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ESS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.1B	$1.1B	$1.1B	$980M	$976M	$905M	$803M	$919M	$827M	$766M	$713M	$617M	$493M	$305M	$267M	$217M	$176M	$174M	$181M	$191M	$160M
Capital Expenditures (CapEx)	$132M	$140M	$136M	$140M	$163M	$121M	$90M	$102M	$82M	$71M	$60M	$57M	$79M	$41M	$38M	$34M	$486M	$192M	$299M	$557M	$540M
Free Cash Flow (FCF)	$948M	$934M	$932M	$840M	$812M	$784M	$713M	$817M	$745M	$695M	$653M	$560M	$414M	$264M	$229M	$183M	($311M)	($19M)	($118M)	($366M)	($380M)
FCF Margin %	49.7%	49.1%	52.5%	50.3%	50.6%	54.4%	47.7%	56.0%	53.2%	51.0%	50.4%	46.9%	42.6%	43.2%	42.9%	39.1%	-75.7%	-4.6%	-28.9%	-96.5%	-111.8%
Dividends Paid	$662M	$654M	$620M	$587M	$566M	$543M	$536M	$528M	$484M	$451M	$411M	$367M	$261M	$181M	$156M	$139M	$124M	$117M	$109M	$98M	$80M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ESS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$287M	$234M	$343M	$216M	$282M	$218M	$316M	$219M
Capital Expenditures (CapEx)	$20M	$40M	$36M	$37M	$28M	$39M	$37M	$35M
Free Cash Flow (FCF)	$267M	$195M	$306M	$180M	$254M	$179M	$280M	$184M
FCF Margin %	55.2%	40.6%	64.7%	38.2%	53.1%	39.5%	60.5%	41.7%
Dividends Paid	$166M	$166M	$166M	$165M	$157M	$157M	$157M	$157M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ESS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$13.1B	$13.2B	$12.9B	$12.4B	$12.4B	$13.0B	$12.9B	$12.7B	$12.4B	$12.5B	$12.2B	$12.0B	$11.6B	$5.2B	$4.8B	$4.0B	$3.7B	$3.3B	$3.2B	$3.0B	$2.5B
Cash & Cash Equivalents	$47M	$86M	$67M	$392M	$33M	$59M	$84M	$70M	$151M	$61M	$170M	$123M	$26M	$54M	$42M	$13M	$36M	$21M	$55M	$10M	$10M
Total Liabilities	$7.5B	$7.4B	$7.2B	$6.7B	$6.5B	$6.8B	$6.7B	$6.3B	$6.0B	$6.1B	$5.9B	$5.6B	$5.4B	$3.2B	$3.0B	$2.5B	$2.4B	$2.0B	$2.1B	$1.9B	$1.6B
Total Debt (Short + Long-Term)	$7.4B	$7.3B	$6.6B	$6.6B	$6.0B	$6.6B	$6.5B	$5.9B	$6.2B	$5.7B	$5.6B	$5.4B	$5.3B	$3.0B	$2.8B	$2.5B	$4.1B	$1.9B	$1.8B	$1.7B	$1.4B
Total Shareholders' Equity	$5.4B	$5.5B	$5.5B	$5.4B	$5.7B	$6.2B	$6.2B	$6.2B	$6.4B	$6.4B	$6.3B	$6.4B	$6.0B	$2.0B	$1.9B	$1.4B	$1.4B	$1.1B	$845M	$790M	$612M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ESS viewer.

Other Companies in Multi-Family Residential REITs

AVB · AvalonBay Communities — $27 billion
EQR · Equity Residential — $26 billion
MAA · Mid-America Apartment Communities — $16 billion
UDR · UDR, Inc. — $15 billion
CPT · Camden Property Trust — $11 billion

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