Vivmark Residential

VMRK · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993
Valuation
Market cap	$23,900	$27,182	$23,166	$22,196	$33,832	$22,040	$29,978	$24,295	$23,402	$23,492	$29,658	$25,947	$18,378	$17,154	$16,816	$14,696	$9,243	$8,052	$10,190	$14,718	$11,179	$10,121	$8,037	$6,685	$7,676	$7,164	$5,214	$4,047	$3,322	$1,757	$1,050	$770	$463
Enterprise value	$32,819	$35,748	$31,020	$30,086	$42,594	$30,608	$39,529	$33,292	$32,540	$32,633	$40,810	$37,091	$29,429	$25,308	$26,334	$24,331	$18,569	$17,826	$20,006	$22,923	$19,103	$17,033	$13,949	$12,790	$14,003	$13,815	$11,416	$9,445	$6,745	$3,015	$2,223	$1,946	$825
P/E (TTM) at period end	21.36×	26.32×	27.83×	28.68×	25.44×	24.21×	30.99×	37.12×	38.98×	5.48×	34.35×	41.37×	10.06×	20.76×	19.11×	54.58×	26.57×	20.48×	10.71×	13.72×	12.97×	21.43×	14.78×	15.87×	16.21×	13.04×	13.24×	15.67×	18.81×	17.29×	15.51×	22.39×	75.90×
P/S (TTM) at period end	7.72×	9.12×	8.06×	8.12×	13.73×	8.57×	11.10×	9.42×	9.47×	9.68×	10.80×	9.92×	7.70×	9.82×	11.03×	7.38×	4.75×	3.83×	5.66×	7.39×	5.72×	5.77×	4.41×	3.35×	3.54×	3.53×	3.46×	3.03×	4.44×	3.67×	2.55×	3.33×	4.07×
P/B at period end	2.16×	2.46×	2.09×	1.99×	3.09×	2.09×	2.91×	2.39×	2.28×	2.30×	2.83×	2.50×	1.75×	2.35×	2.97×	2.89×	1.83×	1.64×	2.01×	2.50×	2.07×	2.00×	1.60×	1.29×	1.42×	1.27×	0.95×	0.76×	0.90×	1.20×	1.19×	1.26×	3.16×
EV / EBITDA (TTM)	15.36×	12.88×	15.14×	15.06×	16.94×	14.31×	18.07×	17.52×	18.61×	20.90×	22.99×	22.07×	19.73×	23.55×	28.85×	30.80×	19.78×	20.86×	19.76×	32.42×	29.38×	25.50×	13.42×	11.12×	7.42×	11.30×	10.55×	11.75×	14.81×	10.93×	3.04×	4.72×	3.96×
EV / Sales (TTM)	10.61×	12.00×	10.79×	11.00×	17.29×	11.90×	14.63×	12.91×	13.17×	13.45×	14.87×	14.19×	12.33×	14.48×	17.27×	12.21×	9.55×	8.48×	11.10×	11.52×	9.77×	9.71×	7.65×	6.41×	6.45×	6.80×	7.57×	7.06×	9.03×	6.30×	5.39×	8.42×	7.24×
Returns
Return on equity	10.1%	9.4%	7.5%	6.9%	12.1%	8.7%	9.4%	6.4%	5.9%	41.9%	8.2%	6.0%	17.4%	11.3%	15.5%	5.3%	6.9%	8.0%	18.8%	18.2%	16.0%	9.3%	10.8%	8.1%	8.7%	9.8%	7.2%	4.8%	4.8%	7.0%	7.7%	5.6%	4.2%
Return on invested capital	5.6%	9.3%	6.1%	5.8%	8.5%	6.9%	6.8%	5.8%	5.2%	4.4%	4.7%	4.3%	2.4%	3.3%	2.7%	1.9%	3.0%	2.3%	2.0%	0.8%	0.9%	1.4%	5.2%	5.9%	12.0%	6.3%	5.7%	4.7%	4.2%	6.7%	31.8%	20.9%	36.6%
Dividend yield	4.4%	3.7%	4.3%	4.2%	2.7%	4.0%	2.8%	3.2%	3.2%	20.3%	2.6%	3.0%	3.7%	2.8%	2.6%	2.6%	5.3%	6.5%	5.2%	3.8%	4.9%	5.9%	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.09×	1.24×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Debt / equity	–	–	–	–	0.80×	0.81×	0.98×	0.93×	0.91×	0.88×	1.05×	–	–	1.18×	1.73×	1.96×	1.86×	4.28×	1.88×	2.74×	1.41×	1.27×	1.07×	1.06×	1.06×	1.02×	0.99×	0.88×	0.80×	0.86×	1.13×	1.64×	1.90×
Effective tax rate	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	(0.2%)	0.1%	0.1%	0.4%	0.2%	0.3%	(1.0%)	0.3%	(0.9%)	(0.1%)	(4.0%)	5.1%	39.7%	(999.0%)	(452.8%)	(269.7%)	(100.0%)	(100.0%)	(100.0%)	(100.0%)	(100.0%)	(100.0%)	(100.0%)	(100.0%)	–	–	–
Share count
Diluted shares outstanding	390	391	391	389	388	386	386	384	383	382	381	378	354	320	295	283	274	270	279	316	311	280	272	298	295	287	271	225	134	85	69	51	29

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993
Revenue and gross profit
Revenue	$3,129	$3,094	$2,980	$2,874	$2,735	$2,464	$2,572	$2,701	$2,578	$2,471	$2,426	$2,745	$2,615	$2,388	$1,748	$1,525	$1,992	$1,945	$2,103	$1,802	$1,990	$1,955	$1,754	$1,823	$1,994	$2,171	$2,030	$1,509	$1,337	$747	$478	$412	$231	$114
Cost of revenue	–	($1,665)	($1,095)	($1,046)	($983)	($949)	($916)	($908)	($880)	($826)	($806)	($905)	($884)	($834)	($626)	($304)	($1,463)	($1,363)	($1,435)	–	($1,395)	($1,371)	($1,009)	($197)	($199)	($723)	–	–	–	–	–	–	–	–
Gross profit	–	$1,436	$1,886	$1,827	$1,753	$1,515	$1,655	$1,792	$1,698	$1,645	$1,620	$1,840	$1,731	$1,553	$1,122	$1,221	$529	$582	$668	–	$596	$584	$745	$1,626	$1,795	$1,447	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($62)	($65)	($62)	($61)	($59)	($57)	($48)	($53)	($54)	($52)	($58)	($65)	($51)	($62)	($47)	($44)	($40)	($39)	($45)	($47)	–	–	–	($39)	($46)	($35)	($26)	($22)	($22)	($15)	($10)	($8)	($6)	($6)
Total operating expenses	($1,356)	($310)	($62)	($667)	($637)	$161	($337)	($436)	($583)	($641)	($763)	($831)	($810)	($1,041)	($608)	($814)	($245)	($158)	($312)	–	($485)	($462)	($574)	($1,059)	($1,123)	($35)	–	–	–	–	–	–	–	–
Total costs and expenses	($2,247)	($1,967)	($1,156)	($1,713)	($1,619)	($788)	($1,254)	($1,345)	($1,464)	($1,467)	($1,570)	($1,736)	($1,693)	($1,875)	($1,233)	($1,119)	($1,708)	($1,520)	($1,747)	($1,315)	($1,880)	($1,834)	($1,583)	($1,256)	($1,322)	($759)	($1,261)	($837)	($833)	($447)	($296)	$243	$142	$72
Operating income	$882	$1,126	$1,824	$1,161	$1,116	$1,676	$1,318	$1,356	$1,115	$1,005	$856	$1,009	$922	$512	$514	$407	$284	$425	$356	$487	$111	$121	$171	$568	$672	$1,412	$769	$672	$504	$300	$183	$655	$373	$186
Earnings
EBITDA	$1,889	$2,137	$2,776	$2,049	$1,998	$2,514	$2,139	$2,187	$1,900	$1,748	$1,562	$1,775	$1,681	$1,491	$1,075	$913	$790	$939	$854	$1,012	$707	$650	$668	$1,039	$1,150	$1,886	$1,223	$1,082	$804	$456	$276	$731	$412	$208
Interest income	$64	$52	$30	$22	$2	$26	$6	$3	$16	$6	$66	$7	$4	$5	$151	$8	$4	$17	$34	$20	$31	$69	$9	$251	$329	$9	–	–	–	–	–	–	–	–
Interest expense	($319)	($307)	($286)	($270)	($283)	($272)	($365)	($390)	($413)	($384)	($482)	($444)	($457)	($587)	($455)	($460)	($458)	($491)	($477)	($489)	–	–	–	($544)	($421)	($474)	($549)	($394)	($258)	($177)	($102)	($68)	($34)	($6)
Pre-tax income	$913	$1,173	$1,081	$875	$813	$1,401	$932	$939	$689	$613	$417	$558	$448	($121)	$161	($76)	($190)	($68)	($103)	$6	$107	$190	$175	$544	$421	$474	$549	$394	$258	$177	$102	$68	–	–
Income tax expense	($2)	($2)	($1)	($1)	($1)	($1)	($1)	$2	($1)	($0)	($2)	($1)	($1)	($1)	($1)	($1)	($0)	($3)	$5	($3)	$1,073	$862	$472	$544	$421	$474	$549	$394	$258	$177	$102	–	–	–
Net income	$875	$1,120	$1,036	$835	$777	$1,333	$914	$970	$658	$603	$4,292	$870	$631	$1,831	$842	$894	$284	$362	$408	$980	$1,073	$862	$472	$544	$421	$474	$549	$394	$258	$177	$102	$68	$34	$6
Per share
Diluted EPS (GAAP)	$2.30	$2.94	$2.72	$2.20	$2.05	$3.54	$2.45	$2.60	$1.77	$1.63	$11.68	$2.36	$1.73	$5.16	$2.71	$2.98	$0.952	$1.27	$1.46	$3.40	$3.40	$2.77	$1.69	$2.00	$1.41	$1.60	$1.92	$1.45	$1.15	$1.32	$1.19	$0.98	$0.67	$0.21
Basic EPS (GAAP)	$2.31	$2.95	$2.73	$2.20	$2.06	$3.56	$2.45	$2.61	$1.78	$1.64	$11.75	$2.37	$1.74	$5.16	$2.73	$2.98	$0.952	$1.27	$1.46	$3.40	$3.70	$3.02	$1.69	$2.00	$1.55	$1.77	$2.12	$1.61	$1.29	$1.34	$1.19	$0.99	$0.67	$0.21
Basic shares outstanding	377	380	379	379	376	374	372	370	368	367	365	363	361	354	303	295	283	274	270	279	290	286	280	272	272	267	259	244	201	131	85	69	51	29
Margins
Gross margin	–	46.4%	63.3%	63.6%	64.1%	61.5%	64.4%	66.4%	65.9%	66.6%	66.8%	67.0%	66.2%	65.1%	64.2%	80.0%	26.6%	29.9%	31.8%	–	29.9%	29.9%	42.5%	89.2%	90.0%	66.7%	–	–	–	–	–	–	–	–
Operating margin	28.2%	36.4%	61.2%	40.4%	40.8%	68.0%	51.2%	50.2%	43.2%	40.6%	35.3%	36.8%	35.2%	21.5%	29.4%	26.7%	14.3%	21.8%	16.9%	27.0%	5.6%	6.2%	9.8%	31.1%	33.7%	65.0%	37.9%	44.5%	37.7%	40.1%	38.2%	158.8%	161.4%	163.4%
Net margin	28.0%	36.2%	34.8%	29.1%	28.4%	54.1%	35.5%	35.9%	25.5%	24.4%	176.9%	31.7%	24.1%	76.7%	48.2%	58.6%	14.2%	18.6%	19.4%	54.4%	53.9%	44.1%	26.9%	29.8%	21.1%	21.8%	27.1%	26.1%	19.3%	23.6%	21.2%	16.4%	14.9%	5.4%

Analyst consensus

Hold46 analysts

Bearish · 2 · Hold · 30 · Bullish · 14

Earnings history

	EPS	Estimate
Q3 2024	$0.38	$0.41	Miss
Q4 2024	$1.10	$0.44	Beat
Q1 2025	$0.69	$0.26	Beat
Q2 2025	$0.51	$0.34	Beat
Q3 2025	$0.76	$0.43	Beat
Q4 2025	$1.03	$1.04	Miss
Q1 2026	$0.24	$0.28	Miss
Q2 2026	$0.30	$0.44	Miss

Peers

Company overview

IPO dateAug 12, 1993

CEOBenjamin W. Schall

Employees3,011

SectorReal Estate

IndustryREIT - Residential

CountryUS

ExchangeNew York Stock Exchange

Websitewww.equityapartments.com

Vivmark Residential is a real estate investment trust (REIT) and S&P 500 company formed through the August 2026 merger of equals between Equity Residential and AvalonBay Communities. The company focuses on the ownership, development, and management of high-quality apartment communities in premier U.S. markets, including major coastal cities and high-growth metro areas. Vivmark's portfolio consists of over 184,000 apartment homes with a substantial development pipeline. [25, 28, 40]

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.