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Financials · ESS

Essex Property Trust Inc. (ESS) financials

For the twelve months ended Jun 30, 2026, Essex Property Trust Inc. reported $1.93B of revenue and $413.84M of net income.

Revenue, TTM
$1.93B
Revenue growth, YoY
+4.7%
Net income, TTM
$413.84M
Net income growth, YoY
-48.3%
Net margin
21.5%
EPS, diluted, TTM
$6.42
EPS growth, YoY
-48.4%
Cash
$58.33M
Total debt
$6.39B
P/E
42.18
P/S
9.06
Market cap
$17.46B
Annual revenue$1.89B
FY2016FY2025
Annual net income$669.67M
FY2016FY2025

ESS revenue and earnings growth

ESS revenueQ2 2026$489.05M

Quarter YoY
+4.1%
QoQ
+0.9%
FY YoY
+6.4%
5Y CAGR
+4.8%
10Y CAGR
+4.7%

ESS revenue was $489.05M in fiscal Q2 2026 (ended Jun 30, 2026), up 4.1% from a year earlier and up 0.9% from the prior quarter. For the full fiscal 2025 it was $1.89B, up 6.4% from fiscal 2024. Compound annual growth was +4.8% over 5 years and +4.7% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

ESS net incomeQ2 2026$62.46M

Quarter YoY
-71.8%
QoQ
-41.2%
FY YoY
-9.7%
5Y CAGR
+3.3%
10Y CAGR
+11.2%

ESS net income was $62.46M in fiscal Q2 2026 (ended Jun 30, 2026), down 71.8% from a year earlier and down 41.2% from the prior quarter. For the full fiscal 2025 it was $669.67M, down 9.7% from fiscal 2024. Compound annual growth was +3.3% over 5 years and +11.2% over 10 years. It rose in 5 of the last 10 fiscal years.

ESS EPSQ2 2026$0.97

Quarter YoY
-71.8%
QoQ
-41.2%
FY YoY
-9.9%
5Y CAGR
+3.7%
10Y CAGR
+11.5%

ESS diluted EPS was $0.97 in fiscal Q2 2026 (ended Jun 30, 2026), down 71.8% from a year earlier and down 41.2% from the prior quarter. For the full fiscal 2025 it was $10.40, down 9.9% from fiscal 2024. Compound annual growth was +3.7% over 5 years and +11.5% over 10 years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.89B$1.77B$1.67B$1.61B$1.44B$1.50B$1.46B$1.40B$1.36B$1.29B
Gross profit$1.32B$1.24B$1.17B$1.13B------
Selling, general and admin$71.95M$98.90M$63.47M$56.58M$51.84M$65.39M$54.26M$53.45M$41.38M$40.75M
Operating income$899.32M$703.10M$584.34M$595.23M$530.00M$491.44M$481.11M$511.99M$472.94M$420.80M
Interest expense$258.40M$235.53M$212.91M$204.80M$203.13M$220.63M$217.34M$220.49M$222.89M$219.65M
Net income$669.67M$741.52M$405.82M$408.31M$488.55M$568.87M$439.29M$390.15M$433.06M$414.98M
EPS, basic$10.40$11.55$6.32$6.27$7.51$8.69$6.67$5.91$6.58$6.28
EPS, diluted$10.40$11.54$6.32$6.27$7.51$8.69$6.66$5.90$6.57$6.27
Diluted shares64.4M64.3M64.3M65.1M65.1M65.6M65.9M66.1M65.9M65.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$76.24M$66.80M$391.75M$42.68M$58.64M$84.04M$81.09M$151.40M$61.13M$170.30M
Total assets$13.16B$12.93B$12.36B$12.37B$13.00B$12.94B$12.71B$12.38B$12.50B$12.22B
Total debt----$638.96M$643.55M$990.67M$1.81B$2.01B$2.19B
Total liabilities$7.42B$7.18B$6.74B$6.45B$6.79B$6.72B$6.26B$5.95B$6.06B$5.88B
Shareholders' equity$5.54B$5.72B$5.59B$5.90B$6.18B$6.18B$6.40B$6.39B$6.40B$6.29B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$1.07B$1.07B$980.06M$975.65M$905.26M$803.11M$919.08M$826.55M$769.61M$716.79M
Investing cash flow-$552.48M-$973.05M-$145.14M$145.96M-$397.40M-$416.90M-$527.69M-$59.89M-$567.94M-$413.07M
Financing cash flow-$512.20M-$419.74M-$477.27M-$1.14B-$533.26M-$383.26M-$461.69M-$676.39M-$310.84M-$256.47M
Share repurchases$0$0$95.66M$189.73M$9.17M$269.31M$56.99M$51.23M$0$1.04M
Stock-based compensation$9.64M$7.16M$8.03M$7.21M$7.31M$8.16M$7.01M$7.13M$9.29M$9.81M
Depreciation and amortization$607.54M$580.22M$548.44M$539.32M$520.07M$525.50M$483.75M$479.88M$468.88M$441.68M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY6.4%6.3%3.9%11.5%-3.7%2.4%4.3%2.7%5.4%8.3%
Net income growth, YoY-9.7%82.7%-0.6%-16.4%-14.1%29.5%12.6%-9.9%4.4%78.8%
EPS growth, YoY-9.9%82.6%0.8%-16.5%-13.6%30.5%12.9%-10.2%4.8%79.7%
Gross margin69.9%70.0%70.1%70.2%------
Operating margin47.6%39.6%35.0%37.0%36.8%32.9%32.9%36.6%34.7%32.5%
Net margin35.5%41.8%24.3%25.4%33.9%38.0%30.1%27.9%31.8%32.1%
Return on equity12.1%13.0%7.3%6.9%7.9%9.2%6.9%6.1%6.8%6.6%
Return on assets5.1%5.7%3.3%3.3%3.8%4.4%3.5%3.2%3.5%3.4%
Debt to equity----0.100.100.150.280.310.35

Source: XBRL data Essex Property Trust Inc. files with the SEC, latest filing dated Jul 30, 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.

ESS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ESS$1.93B+4.7%$413.84M21.5%$17.46B
WELL$13.79B+39.2%$1.67B12.1%$180.05B
PLD$8.95B+6.7%$3.71B41.5%$122.19B
EQIX$10.06B+11.1%$1.65B16.4%$98.73B
AMT$11.01B+5.3%$3.31B30.1%$89.97B
SPG$6.94B+15.0%$4.62B66.5%$73.30B
DLR$6.34B+12.6%$1.38B21.7%$66.08B
PSA$5.03B+5.2%$1.90B37.8%$63.62B
O$6.21B+10.8%$1.36B21.8%$56.58B

ESS FAQ

8 questions
  • What is ESS revenue?
    Essex Property Trust Inc. (ESS) reported $1.93B of revenue for the twelve months ended Jun 30, 2026. That is up 4.7% from the year before. Revenue for fiscal 2025 was $1.89B.
  • Is ESS profitable?
    Yes. Essex Property Trust Inc. earned $413.84M in net income for the twelve months ended Jun 30, 2026, a net margin of 21.5%.
  • How much cash and debt does ESS have?
    Essex Property Trust Inc. reported $58.33M in cash and cash equivalents and $6.39B of debt on its most recent balance sheet in SEC filings.
  • How fast is ESS revenue growing?
    Essex Property Trust Inc.'s revenue changed +6.4% in fiscal 2025, to $1.89B. Its compound annual growth rate was +4.8% over 5 years and +4.7% over 10 years.
  • What is ESS gross margin?
    Essex Property Trust Inc.'s gross profit was $1.35B on $1.93B of revenue for the twelve months ended Jun 30, 2026, a gross margin of 70.1%.
  • What is ESS earnings per share?
    Diluted earnings per share were $6.42 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ESS last report financial results?
    The latest statements here come from Essex Property Trust Inc.'s 10-Q filed on Jul 30, 2026, covering the period ended Jun 30, 2026.
  • Where does this ESS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Essex Property Trust Inc. files with the SEC. It is provided for information only and is not investment advice.