Income Statement

Revenue

+13%

+20%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	347	344	337	328	328	325	325	322	322	0	241	314	257	348	357	360	386	400	417	426	437	458	478	499	501	498	492	492	504	501	497	506	499	496	500	470	477	484	477	477	478	474	474	477	557	566	574	609	523	515	512	469	464	458	454	455	563	538	510	495	384	389	394	392	404	407	428	425	402	418	393	402	392	364	358	374	356	341	328	281	287	291	296	292	285	279	276	278	279	279	282	294	299	308	316	316
Revenue	2 003 N/A	1 944 -3%	1 845 -5%	1 687 -9%	1 762 +4%	1 738 -1%	1 723 -1%	1 581 -8%	1 705 +8%	1 712 +0%	1 733 +1%	1 494 -14%	1 721 +15%	1 699 -1%	1 685 -1%	1 496 -11%	1 731 +16%	1 739 +0%	1 786 +3%	1 703 -5%	1 813 +7%	1 865 +3%	1 896 +2%	1 824 -4%	1 972 +8%	1 983 +1%	1 980 0%	1 887 -5%	1 963 +4%	1 955 0%	1 896 -3%	1 640 -14%	1 803 +10%	1 760 -2%	1 780 +1%	1 675 -6%	1 708 +2%	1 740 +2%	1 780 +2%	1 525 -14%	1 851 +21%	1 805 -3%	1 763 -2%	1 748 -1%	1 822 +4%	2 018 +11%	2 193 +9%	2 388 +9%	2 516 +5%	2 552 +1%	2 589 +1%	2 615 +1%	2 648 +1%	2 674 +1%	2 707 +1%	2 745 +1%	2 698 -2%	2 614 -3%	2 524 -3%	2 426 -4%	2 411 -1%	2 428 +1%	2 446 +1%	2 471 +1%	2 500 +1%	2 528 +1%	2 556 +1%	2 578 +1%	2 607 +1%	2 637 +1%	2 669 +1%	2 701 +1%	2 720 +1%	2 704 -1%	2 642 -2%	2 572 -3%	2 487 -3%	2 431 -2%	2 432 +0%	2 464 +1%	2 520 +2%	2 609 +4%	2 681 +3%	2 735 +2%	2 787 +2%	2 817 +1%	2 846 +1%	2 874 +1%	2 900 +1%	2 917 +1%	2 941 +1%	2 980 +1%	3 010 +1%	3 045 +1%	3 079 +1%	3 094 +0%
Gross Profit
Cost of Revenue	(786)	(764)	(732)	(678)	(720)	(716)	(715)	(670)	(724)	(734)	(762)	(652)	(756)	(746)	(734)	(656)	(754)	(750)	(756)	(710)	(764)	(784)	(792)	(751)	(799)	(800)	(797)	(766)	(788)	(783)	(763)	(639)	(731)	(712)	(712)	(660)	(660)	(661)	(660)	(569)	(671)	(652)	(632)	(626)	(649)	(712)	(767)	(834)	(878)	(884)	(890)	(884)	(890)	(893)	(900)	(905)	(888)	(860)	(838)	(806)	(800)	(814)	(818)	(826)	(843)	(852)	(862)	(880)	(889)	(897)	(901)	(908)	(917)	(916)	(920)	(916)	(922)	(928)	(937)	(949)	(958)	(974)	(987)	(983)	(1 002)	(1 016)	(1 026)	(1 046)	(1 050)	(1 057)	(1 069)	(1 095)	(1 107)	(1 125)	(1 139)	(1 149)
Gross Profit	1 218 N/A	1 180 -3%	1 109 -6%	1 009 -9%	1 047 +4%	1 022 -2%	1 008 -1%	911 -10%	981 +8%	979 0%	970 -1%	842 -13%	965 +15%	953 -1%	951 0%	840 -12%	977 +16%	990 +1%	1 030 +4%	993 -4%	1 049 +6%	1 080 +3%	1 104 +2%	1 073 -3%	1 172 +9%	1 184 +1%	1 183 0%	1 122 -5%	1 175 +5%	1 172 0%	1 133 -3%	1 002 -12%	1 073 +7%	1 048 -2%	1 069 +2%	1 015 -5%	1 048 +3%	1 079 +3%	1 120 +4%	956 -15%	1 180 +23%	1 152 -2%	1 130 -2%	1 122 -1%	1 173 +5%	1 307 +11%	1 426 +9%	1 554 +9%	1 639 +5%	1 667 +2%	1 700 +2%	1 731 +2%	1 758 +2%	1 782 +1%	1 807 +1%	1 840 +2%	1 810 -2%	1 754 -3%	1 686 -4%	1 620 -4%	1 611 -1%	1 615 +0%	1 628 +1%	1 645 +1%	1 657 +1%	1 676 +1%	1 694 +1%	1 698 +0%	1 718 +1%	1 740 +1%	1 768 +2%	1 792 +1%	1 804 +1%	1 789 -1%	1 722 -4%	1 655 -4%	1 565 -5%	1 503 -4%	1 495 -1%	1 515 +1%	1 561 +3%	1 635 +5%	1 694 +4%	1 753 +3%	1 785 +2%	1 801 +1%	1 820 +1%	1 827 +0%	1 850 +1%	1 860 +1%	1 872 +1%	1 886 +1%	1 903 +1%	1 920 +1%	1 940 +1%	1 945 +0%
Operating Income
Operating Expenses	(482)	(473)	(457)	(427)	(449)	(451)	(447)	(420)	(448)	(622)	(558)	(428)	(421)	(497)	(498)	(459)	(526)	(534)	(554)	(527)	(565)	(586)	(598)	(578)	(614)	(608)	(604)	(581)	(605)	(613)	(605)	(558)	(610)	(615)	(644)	(621)	(685)	(677)	(678)	(550)	(645)	(638)	(618)	(608)	(665)	(850)	(992)	(1 041)	(1 031)	(896)	(805)	(810)	(817)	(823)	(834)	(831)	(802)	(786)	(767)	(764)	(767)	(766)	(771)	(796)	(815)	(827)	(838)	(840)	(847)	(856)	(872)	(884)	(891)	(894)	(883)	(869)	(858)	(855)	(872)	(895)	(927)	(952)	(951)	(941)	(926)	(926)	(937)	(949)	(959)	(962)	(975)	(1 014)	(1 047)	(1 064)	(1 081)	(1 076)
Selling, General & Administrative	(39)	(44)	(45)	(47)	(47)	(44)	(43)	(37)	(37)	(41)	(45)	(47)	(57)	(58)	(60)	(70)	(66)	(61)	(61)	(44)	(45)	(47)	(46)	(47)	(50)	(50)	(48)	(45)	(43)	(41)	(41)	(39)	(39)	(39)	(40)	(40)	(41)	(41)	(41)	(44)	(46)	(48)	(48)	(47)	(50)	(53)	(57)	(62)	(63)	(61)	(57)	(51)	(53)	(55)	(60)	(65)	(61)	(64)	(61)	(58)	(55)	(51)	(51)	(52)	(54)	(53)	(53)	(54)	(53)	(55)	(54)	(53)	(52)	(49)	(49)	(48)	(49)	(52)	(54)	(57)	(58)	(60)	(60)	(59)	(58)	(60)	(61)	(61)	(60)	(60)	(60)	(62)	(64)	(64)	(64)	(65)
Depreciation & Amortization	(437)	(433)	(418)	(390)	(415)	(414)	(416)	(383)	(419)	(425)	(435)	(381)	(442)	(439)	(438)	(388)	(460)	(472)	(493)	(483)	(520)	(539)	(553)	(531)	(564)	(558)	(556)	(536)	(562)	(572)	(563)	(519)	(558)	(574)	(600)	(582)	(599)	(590)	(591)	(506)	(599)	(588)	(567)	(561)	(613)	(797)	(935)	(979)	(968)	(835)	(749)	(759)	(768)	(772)	(778)	(766)	(744)	(726)	(709)	(706)	(712)	(716)	(720)	(744)	(761)	(774)	(785)	(786)	(794)	(801)	(818)	(831)	(839)	(845)	(834)	(821)	(808)	(803)	(818)	(838)	(868)	(891)	(890)	(882)	(868)	(866)	(876)	(889)	(899)	(902)	(915)	(952)	(983)	(1 000)	(1 016)	(1 010)
Other Operating Expenses	(6)	3	6	9	13	7	12	0	9	(156)	(79)	0	78	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(13)	0	(4)	0	(46)	(46)	(46)	0	0	0	0	0	0	0	0	0	0	0	0	0	5	5	5	0	4	4	4	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	736 N/A	707 -4%	657 -7%	582 -11%	593 +2%	571 -4%	561 -2%	491 -13%	533 +9%	356 -33%	412 +16%	414 +0%	544 +31%	455 -16%	454 0%	382 -16%	451 +18%	456 +1%	476 +4%	466 -2%	484 +4%	494 +2%	506 +2%	495 -2%	558 +13%	575 +3%	579 +1%	540 -7%	570 +6%	559 -2%	529 -5%	444 -16%	463 +4%	433 -6%	425 -2%	394 -7%	363 -8%	403 +11%	442 +10%	407 -8%	536 +32%	514 -4%	513 0%	514 +0%	508 -1%	457 -10%	434 -5%	512 +18%	607 +19%	772 +27%	895 +16%	922 +3%	941 +2%	959 +2%	973 +1%	1 009 +4%	1 008 0%	968 -4%	919 -5%	856 -7%	844 -1%	849 +1%	857 +1%	849 -1%	842 -1%	849 +1%	857 +1%	859 +0%	872 +2%	884 +1%	897 +1%	909 +1%	913 +0%	895 -2%	840 -6%	786 -6%	708 -10%	648 -8%	623 -4%	620 0%	635 +2%	684 +8%	743 +9%	812 +9%	859 +6%	876 +2%	883 +1%	878 -1%	891 +1%	898 +1%	896 0%	872 -3%	856 -2%	856 +0%	859 +0%	870 +1%
Pre-Tax Income
Interest Income Expense	(347)	(344)	(337)	(328)	(328)	(325)	(325)	(306)	(322)	0	(81)	(305)	(193)	(281)	(290)	(292)	(375)	(389)	(403)	(395)	(406)	(425)	(446)	(479)	(481)	(476)	(473)	(459)	(468)	(463)	(463)	(489)	(491)	(492)	(494)	(465)	(473)	(482)	(470)	(469)	(471)	(467)	(402)	(326)	(406)	(415)	(492)	(604)	(518)	(508)	(505)	(464)	(460)	(450)	(446)	(448)	(553)	(478)	(445)	(429)	(321)	(381)	(387)	(386)	(392)	(395)	(413)	(409)	(391)	(408)	(389)	(399)	(388)	(359)	(353)	(368)	(352)	(314)	(301)	(256)	(258)	(286)	(291)	(289)	(285)	(277)	(267)	(256)	(249)	(250)	(245)	(263)	(276)	(285)	(263)	(263)
Non-Reccuring Items	(12)	(7)	(22)	(18)	(18)	(18)	(1)	(1)	0	0	0	(2)	0	0	0	(1)	(1)	(1)	(2)	(34)	(34)	(34)	(33)	0	(2)	(1)	(1)	(116)	(117)	(128)	(125)	(11)	0	0	0	(45)	0	0	0	(2)	0	0	(0)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	155	141	140	254	256	114	253	270	448	656	661	531	532	324	403	767	1 055	1 055	940	772	304	405	297	127	283	371	410	383	547	513	531	674	626
Gain/Loss on Disposition of Assets	0	0	0	0	0	0	0	0	0	0	0	6	10	10	10	30	20	20	23	0	3	7	0	0	0	0	0	0	0	0	0	0	0	0	(1)	27	27	31	32	0	0	0	0	0	0	15	12	12	12	13	130	218	298	431	383	335	3 990	3 899	3 926	4 060	381	411	334	19	120	34	16	1	1	0	2	2	2	2	0	34	34	34	34	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	(0)	(0)	(0)
Total Other Income	0	0	0	0	0	0	0	0	0	(159)	(154)	0	(154)	5	0	0	0	0	0	0	0	0	0	(2)	(0)	(5)	(3)	(6)	(6)	(5)	(3)	(7)	(4)	(6)	(10)	(12)	(10)	(13)	(12)	(12)	(15)	(22)	(24)	(28)	(41)	(35)	(35)	(30)	(9)	(9)	(9)	(9)	(8)	(9)	(5)	(3)	(6)	(5)	(15)	(10)	(9)	(8)	1	(5)	(7)	(10)	(17)	(17)	(17)	(19)	(14)	(18)	(17)	(14)	(15)	(18)	(19)	(21)	(20)	(19)	(18)	(17)	(18)	(14)	(20)	(24)	(25)	(29)	(52)	(59)	(68)	(74)	(46)	(38)	(55)	(60)
Pre-Tax Income	377 N/A	356 -6%	297 -17%	236 -21%	246 +4%	228 -8%	236 +3%	183 -22%	211 +15%	197 -7%	177 -10%	113 -36%	208 +84%	190 -8%	174 -9%	120 -31%	95 -20%	86 -10%	95 +10%	37 -61%	47 +27%	42 -10%	26 -38%	14 -45%	76 +431%	93 +22%	103 +11%	(41) N/A	(20) +50%	(37) -82%	(63) -71%	(63) 0%	(33) +48%	(65) -99%	(80) -23%	(102) -27%	(93) +9%	(61) +34%	(8) +87%	(77) -868%	50 N/A	25 -50%	87 +249%	161 +85%	61 -62%	22 -64%	(80) N/A	(109) -36%	93 N/A	268 +189%	511 +90%	666 +30%	770 +16%	931 +21%	905 -3%	894 -1%	4 440 +397%	4 383 -1%	4 386 +0%	4 476 +2%	894 -80%	870 -3%	805 -7%	632 -21%	703 +11%	617 -12%	698 +13%	690 -1%	578 -16%	711 +23%	766 +8%	942 +23%	1 165 +24%	1 185 +2%	1 002 -15%	967 -4%	695 -28%	751 +8%	1 104 +47%	1 401 +27%	1 414 +1%	1 320 -7%	1 207 -9%	813 -33%	959 +18%	872 -9%	718 -18%	875 +22%	960 +10%	999 +4%	967 -3%	1 081 +12%	1 046 -3%	1 064 +2%	1 215 +14%	1 172 -4%
Net Income
Tax Provision	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(4)	(1)	(1)	(2)	(3)	(5)	(7)	(7)	(5)	(4)	(3)	(2)	(3)	(1)	(1)	(0)	(0)	(0)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(1)	(1)	(1)	(0)	(1)	(1)	(1)	(1)	(1)	(1)	2	2	2	2	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(2)	(2)
Income from Continuing Operations	377	356	297	236	246	228	236	183	211	197	177	113	208	190	174	120	95	86	95	33	47	42	25	12	71	86	96	(46)	(25)	(40)	(65)	(66)	(34)	(66)	(81)	(102)	(93)	(62)	(9)	(77)	49	24	86	160	60	21	(81)	(110)	92	267	510	665	769	930	904	893	4 439	4 382	4 385	4 475	893	868	803	632	702	617	697	689	577	710	765	944	1 168	1 188	1 004	966	694	750	1 103	1 400	1 413	1 319	1 206	812	958	871	717	874	959	998	966	1 080	1 044	1 063	1 214	1 171
Income to Minority Interest	(32)	(34)	(32)	(49)	(31)	(42)	(51)	(55)	(59)	(52)	(48)	(21)	(46)	(37)	(29)	(15)	(13)	(10)	(9)	(5)	(4)	(3)	(2)	(67)	(14)	(23)	(34)	(29)	(24)	(20)	(16)	5	(14)	(7)	1	6	(11)	(13)	(14)	3	(42)	(41)	(43)	(7)	(1)	2	6	7	(3)	(11)	(21)	22	(31)	(39)	(38)	(38)	(201)	(198)	(198)	(188)	293	294	298	(25)	(27)	(24)	(27)	(28)	(24)	(31)	(33)	(39)	(59)	(57)	(50)	(49)	(28)	(29)	(40)	(64)	(64)	(61)	(58)	(30)	(35)	(32)	(29)	(33)	(34)	(35)	(31)	(35)	(34)	(34)	(37)	(32)
Equity Earnings Affiliates	10	8	(1)	1	(3)	(1)	5	(5)	(12)	(12)	(9)	(3)	2	1	0	2	2	2	2	(0)	(1)	(1)	3	3	3	3	0	3	6	4	7	8	5	12	31	(1)	0	0	(28)	0	0	0	0	0	(46)	(55)	(58)	(58)	(13)	(13)	(11)	(8)	(4)	17	17	15	11	(2)	7	5	5	5	(3)	(3)	(3)	(4)	(4)	(4)	(3)	66	66	66	65	(4)	(3)	(3)	(4)	(3)	(4)	(3)	(3)	(4)	(4)	(5)	(5)	(5)	(5)	(5)	(6)	(6)	(6)	(9)	(14)	(17)	(19)	(19)
Net Income (Common)	337 N/A	352 +4%	347 -1%	324 -7%	359 +11%	382 +6%	430 +13%	427 -1%	414 -3%	410 -1%	372 -9%	419 +13%	534 +28%	554 +4%	730 +32%	808 +11%	961 +19%	983 +2%	789 -20%	1 032 +31%	783 -24%	908 +16%	1 299 +43%	951 -27%	976 +3%	828 -15%	553 -33%	393 -29%	336 -15%	306 -9%	266 -13%	348 +31%	323 -7%	232 -28%	125 -46%	269 +115%	337 +25%	883 +162%	963 +9%	876 -9%	863 -1%	410 -52%	524 +28%	826 +58%	1 701 +106%	1 925 +13%	2 083 +8%	1 827 -12%	888 -51%	676 -24%	520 -23%	627 +21%	728 +16%	902 +24%	877 -3%	863 -2%	4 272 +395%	4 204 -2%	4 216 +0%	4 289 +2%	845 -80%	822 -3%	752 -9%	600 -20%	669 +11%	586 -12%	663 +13%	654 -1%	547 -16%	743 +36%	795 +7%	967 +22%	1 171 +21%	1 123 -4%	947 -16%	911 -4%	660 -28%	715 +8%	1 056 +48%	1 330 +26%	1 343 +1%	1 251 -7%	1 142 -9%	774 -32%	915 +18%	830 -9%	680 -18%	832 +22%	915 +10%	954 +4%	925 -3%	1 033 +12%	995 -4%	1 010 +1%	1 156 +14%	1 119 -3%
EPS (Diluted)	1.13 N/A	1.17 +4%	1.11 -5%	1.08 -3%	1.21 +12%	1.28 +6%	1.16 -9%	1.43 +23%	1.37 -4%	1.34 -2%	1.24 -7%	1.37 +10%	1.73 +26%	1.78 +3%	2.33 +31%	2.59 +11%	3.06 +18%	3.09 +1%	2.49 -19%	3.55 +43%	2.67 -25%	2.7 +1%	4.08 +51%	3.4 -17%	3.37 -1%	2.82 -16%	2.44 -13%	1.45 -41%	1.16 -20%	1.04 -10%	1.12 +8%	1.27 +13%	1.14 -10%	0.81 -29%	0.44 -46%	0.95 +116%	1.15 +21%	2.97 +158%	3.07 +3%	2.96 -4%	2.88 -3%	1.33 -54%	1.64 +23%	2.58 +57%	4.8 +86%	5.35 +11%	5.78 +8%	5.15 -11%	2.35 -54%	1.79 -24%	1.37 -23%	1.66 +21%	1.91 +15%	2.37 +24%	2.32 -2%	2.26 -3%	11.17 +394%	11 -2%	11.02 +0%	11.22 +2%	2.21 -80%	2.14 -3%	1.96 -8%	1.56 -20%	1.74 +12%	1.52 -13%	1.72 +13%	1.7 -1%	1.42 -16%	1.92 +35%	2.05 +7%	2.5 +22%	3.02 +21%	2.91 -4%	2.45 -16%	2.35 -4%	1.7 -28%	1.84 +8%	2.71 +47%	3.42 +26%	3.44 +1%	3.21 -7%	2.93 -9%	1.98 -32%	2.34 +18%	2.12 -9%	1.73 -18%	2.12 +23%	2.34 +10%	2.44 +4%	2.36 -3%	2.64 +12%	2.54 -4%	2.58 +2%	2.95 +14%	2.86 -3%

Income Statement Balance Sheet Cash Flow Statement

Equity Residential
NYSE:EQR

Income Statement

Earnings Waterfall
Equity Residential

Income Statement
Equity Residential

See Also

Company

Help

Tools

Stocks

Equity Residential NYSE:EQR

Income Statement

Earnings Waterfall Equity Residential

Income Statement Equity Residential

See Also

Company

Help

Tools

Stocks

Equity Residential
NYSE:EQR

Earnings Waterfall
Equity Residential

Income Statement
Equity Residential