For fiscal 2025 (ended Dec 31, 2025), Apartment Investment and Management Company reported $138.49M of revenue and $547.16M of net income.
AIV revenue was $34.64M in fiscal Q4 2025 (ended Dec 31, 2025), down 3.9% from a year earlier and down 1.4% from the prior quarter. For the full fiscal 2025 it was $138.49M, up 0.6% from fiscal 2024. Compound annual growth was -1.8% over 5 years and -17.8% over 10 years. It rose in 8 of the last 10 fiscal years.
AIV net income was $297.26M in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$11.34M a year earlier and up 5.0% from the prior quarter. For the full fiscal 2025 it was $547.16M, compared with -$103.99M in fiscal 2024. Compound annual growth was +8.2% over 10 years. Fiscal 2025 is the highest of the 15 fiscal years on file.
AIV diluted EPS was $2.07 in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$0.09 a year earlier and up 1.5% from the prior quarter. For the full fiscal 2025 it was $3.87, compared with -$0.75 in fiscal 2024. Compound annual growth was +9.8% over 10 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.49M | $137.70M | $119.92M | $190.34M | $169.84M | $151.45M | $143.69M | $132.16M | $1.01B | $995.85M |
| Selling, general and admin | $34.03M | $32.84M | $32.87M | $39.67M | $33.15M | $10.47M | $7.06M | $5.77M | $43.66M | $46.78M |
| Operating income | - | $117.69M | $113.28M | $118.55M | -$15.64M | -$14.36M | $15.06M | - | $193.98M | $246.80M |
| Interest expense | $59.43M | $59.36M | $26.92M | $73.84M | $52.90M | $27.51M | $18.60M | $19.64M | $194.62M | $196.39M |
| Pre-tax income | -$15.85M | -$135.23M | -$193.59M | $109.42M | -$18.55M | -$15.92M | -$3.19M | $3.67M | $316.24M | $464.43M |
| Income tax | -$57.59M | -$11.07M | -$12.75M | $17.26M | -$13.57M | -$10.15M | -$3.30M | $261.0K | -$30.84M | -$18.84M |
| Net income | $547.16M | -$103.99M | -$166.20M | $74.64M | -$5.91M | -$5.04M | $304.0K | $3.24M | $315.77M | $430.41M |
| EPS, basic | $3.95 | -$0.75 | -$1.16 | $0.50 | -$0.04 | -$0.03 | $0.00 | $0.02 | $2.02 | $2.68 |
| EPS, diluted | $3.87 | -$0.75 | -$1.16 | $3.87 | -$0.04 | -$0.03 | $0.00 | $0.02 | $2.02 | $2.67 |
| Diluted shares | 141.1M | 138.5M | 143.6M | 141.1M | 149.5M | 148.6M | 148.6M | 148.6M | 152.1M | 156.4M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $394.89M | $172.96M | $122.60M | $229.77M | $244.58M | $298.74M | $10.12M | $4.80M | $5.09M | $131.15M |
| Goodwill | - | - | - | - | - | - | $37.80M | $37.80M | $37.80M | $37.80M |
| Total assets | $1.68B | $1.96B | $2.09B | $2.18B | $2.43B | $1.84B | $1.26B | $6.19B | $6.08B | $6.23B |
| Total debt | $457.32M | $829.67M | $1.15B | $1.05B | $1.18B | $982.09M | $558.93M | $4.08B | - | $3.90B |
| Total liabilities | $1.12B | $1.64B | $1.50B | $1.39B | $1.84B | $1.28B | $741.85M | $4.33B | $4.32B | $4.18B |
| Shareholders' equity | $361.85M | $169.37M | $419.98M | $625.36M | $562.23M | $559.09M | $513.56M | $227.48M | $284.31M | $1.94B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.09M | $46.98M | $50.47M | $204.23M | $12.59M | $47.85M | $57.93M | $53.49M | $392.07M | $376.50M |
| Investing cash flow | $874.97M | $30.60M | -$260.40M | -$120.75M | -$271.41M | -$129.32M | -$412.86M | -$37.84M | $13.02M | -$99.15M |
| Financing cash flow | -$648.82M | -$43.90M | $119.43M | -$98.29M | $204.67M | $370.09M | $360.24M | -$15.92M | -$393.70M | -$283.95M |
| Dividends paid | $415.56M | - | - | $3.04M | - | - | $241.29M | $237.50M | $225.38M | $206.28M |
| Share repurchases | $256.0K | $38.95M | $46.84M | $23.49M | - | - | $20.68M | $373.59M | $0 | $0 |
| Stock-based compensation | $5.90M | $6.49M | $9.22M | $7.47M | $5.27M | - | $8.15M | $8.55M | $7.88M | $7.63M |
| Depreciation and amortization | $58.28M | $77.13M | $58.12M | $158.97M | $84.71M | $77.97M | $64.03M | $49.38M | $366.18M | $333.07M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 0.6% | 14.8% | -37.0% | 12.1% | 12.1% | 5.4% | 8.7% | -86.9% | 1.0% | 1.5% |
| Net income growth, YoY | - | - | - | - | - | - | -90.6% | -99.0% | -26.6% | 73.1% |
| EPS growth, YoY | - | - | - | - | - | - | -100.0% | -99.0% | -24.3% | 75.7% |
| Operating margin | - | 85.5% | 94.5% | 62.3% | -9.2% | -9.5% | 10.5% | - | 19.3% | 24.8% |
| Net margin | 395.1% | -75.5% | -138.6% | 39.2% | -3.5% | -3.3% | 0.2% | 2.5% | 31.4% | 43.2% |
| Return on equity | 151.2% | -61.4% | -39.6% | 11.9% | -1.1% | -0.9% | 0.1% | 1.4% | 111.1% | 22.1% |
| Return on assets | 32.7% | -5.3% | -8.0% | 3.4% | -0.2% | -0.3% | 0.0% | 0.1% | 5.2% | 6.9% |
| Debt to equity | 1.26 | 4.90 | 2.73 | 1.68 | 2.10 | 1.76 | 1.09 | 17.92 | - | 2.01 |
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.64M | $35.13M | $52.76M | $22.88M | $36.06M | $35.33M | $51.15M | $50.20M | - | $47.70M | $45.67M | $44.27M |
| Selling, general and admin | $10.52M | $7.52M | $7.80M | $8.18M | $8.96M | $7.75M | $7.58M | $8.55M | $8.38M | $8.20M | $7.89M | $8.40M |
| Operating income | - | $18.24M | $29.57M | $9.74M | $65.67M | $17.67M | $28.59M | $29.00M | $105.88M | $3.37M | $1.97M | $2.09M |
| Interest expense | $15.21M | $14.03M | $18.00M | $11.70M | $18.17M | $16.32M | $16.82M | $13.37M | -$711.0K | $8.25M | $9.66M | $9.72M |
| Pre-tax income | $101.89M | -$79.43M | -$11.40M | -$21.24M | -$17.96M | -$31.16M | -$63.29M | -$9.93M | -$178.81M | -$4.54M | -$273.0K | -$9.95M |
| Income tax | -$62.97M | -$116.0K | $5.57M | -$85.0K | -$2.34M | -$3.81M | -$2.19M | -$2.73M | -$1.93M | -$6.21M | -$417.0K | -$4.20M |
| Net income | $297.26M | $283.12M | -$19.30M | -$13.92M | -$11.34M | -$21.94M | -$60.53M | -$10.19M | -$151.50M | -$2.26M | -$3.60M | -$8.82M |
| EPS, basic | $2.15 | $2.04 | -$0.14 | -$0.10 | -$0.09 | -$0.16 | -$0.43 | -$0.07 | -$1.06 | -$0.02 | -$0.02 | -$0.06 |
| EPS, diluted | $2.07 | $2.04 | -$0.14 | -$0.10 | -$0.09 | -$0.16 | -$0.43 | -$0.07 | -$1.06 | -$0.02 | -$0.02 | -$0.06 |
| Diluted shares | - | 138.9M | 137.3M | 136.9M | - | 136.7M | 139.8M | 140.6M | - | 143.3M | 144.2M | 145.8M |
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $394.89M | $404.38M | $41.38M | $77.24M | $172.96M | $110.41M | $109.40M | $140.40M | $122.60M | $115.89M | $192.37M | $188.63M |
| Total assets | $1.68B | $2.08B | $1.87B | $1.87B | $1.96B | $2.07B | $2.06B | $2.12B | $2.09B | $2.25B | $2.22B | $2.19B |
| Total debt | $457.32M | $828.53M | $1.10B | $1.08B | $829.67M | $1.25B | $1.21B | $1.18B | $1.15B | $1.12B | $1.07B | $1.08B |
| Total liabilities | $1.12B | $1.82B | $1.59B | $1.57B | $1.64B | $1.60B | $1.56B | $1.54B | $1.50B | $1.50B | $1.45B | $1.41B |
| Shareholders' equity | $361.85M | $61.99M | $136.34M | $156.16M | $169.37M | $292.05M | $317.90M | $405.42M | $419.98M | $585.26M | $598.76M | $608.75M |
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.33M | $8.93M | $9.67M | $3.83M | $828.0K | $16.44M | $8.01M | $21.71M | $7.92M | $24.87M | $12.09M | $5.60M |
| Investing cash flow | $473.15M | $447.55M | -$25.99M | -$19.75M | $144.96M | -$36.92M | -$36.35M | -$41.09M | $3.73M | -$137.49M | -$63.40M | -$63.23M |
| Financing cash flow | -$477.00M | -$99.38M | $7.35M | -$79.80M | -$83.24M | $21.49M | -$2.66M | $20.51M | $11.74M | $36.14M | $55.05M | $16.50M |
| Dividends paid | $327.34M | $0 | $0 | $88.21M | - | - | - | - | - | - | - | - |
| Share repurchases | $0 | $0 | $0 | $256.0K | $4.80M | $3.16M | $24.43M | $6.55M | $10.07M | $14.38M | $7.87M | $14.52M |
| Stock-based compensation | $1.69M | $1.67M | $1.41M | $1.14M | $1.64M | $1.59M | $1.60M | $1.67M | $1.59M | $1.67M | $1.45M | $4.52M |
| Depreciation and amortization | $13.36M | $16.22M | $16.36M | $12.05M | $19.22M | $21.38M | $22.11M | $19.47M | $7.01M | $17.80M | $17.03M | $16.27M |
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -3.9% | -0.6% | 3.1% | -54.4% | - | -25.9% | 12.0% | 13.4% | - | 0.0% | -9.9% | -11.5% |
| Operating margin | - | 51.9% | 56.0% | 42.6% | 182.1% | 50.0% | 55.9% | 57.8% | - | 7.1% | 4.3% | 4.7% |
| Net margin | 858.2% | 805.9% | -36.6% | -60.8% | -31.4% | -62.1% | -118.3% | -20.3% | - | -4.7% | -7.9% | -19.9% |
| Debt to equity | 1.26 | 13.37 | 8.06 | 6.94 | 4.90 | 4.28 | 3.81 | 2.92 | 2.73 | 1.91 | 1.78 | 1.78 |
Source: XBRL data Apartment Investment and Management Company files with the SEC, latest filing dated May 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AIV | $138.49M | +0.6% | $547.16M | 395.1% | $221.5M |
| WELL | $13.79B | +39.2% | $1.67B | 12.1% | $181.46B |
| PLD | $8.95B | +6.7% | $3.71B | 41.5% | $124.09B |
| EQIX | $10.06B | +11.1% | $1.65B | 16.4% | $104.38B |
| AMT | $11.01B | +5.3% | $3.31B | 30.1% | $87.65B |
| SPG | $7.15B | +16.2% | $4.51B | 63.0% | $75.39B |
| DLR | $6.34B | +12.6% | $1.38B | 21.7% | $68.13B |
| PSA | $5.03B | +5.2% | $1.90B | 37.8% | $63.18B |
| O | $6.21B | +10.8% | $1.36B | 21.8% | $56.58B |