AvalonBay Communities, Inc. (AVB) Financial Statements
AvalonBay Communities financial statements at a glance
AvalonBay Communities reported revenue of $3.04 billion for fiscal year 2025 (ended December 31, 2025), up 4.4% from fiscal year 2024. Net income was $1.05 billion, a net margin of 34.5%.
At the end of fiscal year 2025 it had total assets of $22.19 billion, total liabilities of $10.36 billion and shareholders' equity of $11.61 billion, with cash and short-term investments of $187.23 million and total debt of $9.49 billion.
Its operations brought in $1.67 billion of cash; capital spending was $264.94 million, leaving free cash flow of $1.41 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
AvalonBay Communities, Inc.
Income Statement
Annual • USD
AvalonBay Communities key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.0B | $2.9B | $2.8B | $2.6B | $2.3B |
| Gross profit | $1.9B | $1.8B | $1.8B | $1.7B | $1.4B |
| Operating income | $919.8M | $667.9M | $637.5M | $537.0M | $612.7M |
| Net income | $1.0B | $1.1B | $928.8M | $1.1B | $1.0B |
| Diluted EPS | – | – | – | – | $7.19 |
| Total assets | $22.2B | $21.0B | $20.7B | $20.5B | $19.9B |
| Total liabilities | $10.4B | $9.1B | $8.9B | $9.2B | $9.0B |
| Shareholders' equity | $11.6B | $11.9B | $11.8B | $11.3B | $10.9B |
| Cash and short-term investments | $187.2M | – | – | – | $420.3M |
| Total debt | $9.5B | $8.1B | $8.0B | $8.3B | $8.3B |
| Operating cash flow | $1.7B | $1.6B | $1.6B | $1.4B | $1.2B |
| Capital spending | $264.9M | – | – | – | $153.2M |
| Free cash flow | $1.4B | – | – | – | $1.0B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was AvalonBay Communities's revenue in fiscal year 2025?
$3.04 billion, up 4.4% from $2.91 billion in fiscal year 2024.
How much profit does AvalonBay Communities make?
AvalonBay Communities reported net income of $1.05 billion for fiscal year 2025 (34.5% of revenue); operating income was $919.76 million.
How much cash and debt does AvalonBay Communities have?
At the end of fiscal year 2025: cash and short-term investments of $187.23 million and total debt of $9.49 billion.
What is AvalonBay Communities's free cash flow?
$1.41 billion in fiscal year 2025 (operating cash flow of $1.67 billion minus capital spending of $264.94 million).
