American Homes 4 Rent's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), American Homes 4 Rent reported net income of $513.4M (+9.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rents and other single-family property revenues | $1.9B | $1.7B | $1.6B | $1.5B |
| Cost of goods and services sold | $798.8M | $755.2M | $722.8M | $664.8M |
| General and administrative expense | $83.0M | $83.6M | $74.6M | $68.1M |
| Interest expense | $185.2M | $165.4M | $140.2M | $134.9M |
| Acquisition and other transaction costs | $12.3M | $12.2M | $16.9M | $23.5M |
| Depreciation and amortization | $504.3M | $477.0M | $456.6M | $426.5M |
| Hurricane-related charges, net | $0 | $8.9M | $0 | $6.1M |
| Total expenses | $1.6B | $1.5B | $1.4B | $1.3B |
| Gain on sale and impairment of single-family properties and other, net | $231.5M | $225.8M | $209.8M | $136.5M |
| Loss on early extinguishment of debt | ($396.0K) | ($6.3M) | — | — |
| Other income and expense, net | $15.7M | $22.2M | $9.8M | $6.9M |
| Net income | $513.4M | $468.1M | $432.1M | $310.0M |
| Noncontrolling interest | $60.4M | $55.7M | $52.0M | $36.9M |
| Dividends on preferred shares | 13.9M | 13.9M | 13.9M | 17.1M |
| Net income attributable to common shareholders / unitholders | $439.0M | $398.5M | $366.2M | $250.8M |
| Basic (in shares) | 370.6M | 367.5M | 362.0M | 349.3M |
| Diluted (in shares) | 370.9M | 368.0M | 362.5M | 349.8M |
| Basic (in dollars per share) | $1.18 | $1.08 | $1.01 | $0.72 |
| Diluted (in dollars per share) | $1.18 | $1.08 | $1.01 | $0.71 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rents and other single-family property revenues | $470.1M | $472.0M | $478.5M | $457.5M |
| Cost of goods and services sold | $195.8M | $202.0M | $215.0M | $194.5M |
| General and administrative expense | $21.7M | $21.3M | $20.5M | $20.0M |
| Interest expense | $49.5M | $48.2M | $48.2M | $46.3M |
| Acquisition, disposition and other transaction costs | $3.2M | $3.1M | $3.7M | $2.7M |
| Depreciation and amortization | $127.6M | $127.3M | $126.7M | $126.9M |
| Total expenses | $397.8M | $402.0M | $414.0M | $390.4M |
| Gain on sale and impairment of single-family properties and other, net | $59.4M | $78.4M | $47.6M | $51.9M |
| Loss on early extinguishment of debt | $0 | $0 | ($180.0K) | $0 |
| Other income and expense, net | $1.2M | $327.0K | $4.9M | $4.6M |
| Net income | $132.9M | $148.8M | $116.8M | $123.6M |
| Noncontrolling interest | $15.8M | $17.6M | $13.6M | $14.6M |
| Dividends on preferred shares | 3.5M | 3.5M | 3.5M | 3.5M |
| Net income attributable to common shareholders | $113.6M | $127.8M | $99.7M | $105.6M |
| Basic (in shares) | 360.6M | 364.3M | 371.2M | 370.7M |
| Diluted (in shares) | 360.8M | 364.5M | 371.6M | 371.1M |
| Basic (in dollars per share) | $0.31 | $0.35 | $0.27 | $0.28 |
| Diluted (in dollars per share) | $0.31 | $0.35 | $0.27 | $0.28 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $2.4B | $2.4B | $2.2B | $2.2B |
| Buildings and improvements | $12.0B | $11.6B | $10.7B | $10.1B |
| Single-family properties in operation | $14.4B | $13.9B | $12.9B | $12.3B |
| Less: accumulated depreciation | ($3.4B) | ($3.0B) | ($2.7B) | ($2.4B) |
| Single-family properties in operation, net | $11.0B | $10.9B | $10.2B | $9.9B |
| Single-family properties under development and development land | $1.2B | $1.3B | $1.4B | $1.2B |
| Single-family properties and land held for sale, net | $225.9M | $212.8M | $182.1M | $198.7M |
| Total real estate assets, net | $12.5B | $12.4B | $11.8B | $11.3B |
| Cash and cash equivalents | $108.5M | $199.4M | $59.4M | $69.2M |
| Restricted cash | $122.2M | $150.8M | $162.5M | $148.8M |
| Rent and other receivables | $43.1M | $48.5M | $42.8M | $47.8M |
| Escrow deposits, prepaid expenses and other assets | $228.0M | $337.4M | $406.1M | $331.4M |
| Investments in unconsolidated joint ventures | $148.9M | $159.1M | $114.2M | $107.3M |
| Goodwill | $120.3M | $120.3M | $120.3M | $120.3M |
| Total assets | $13.2B | $13.4B | $12.7B | $12.2B |
| Revolving credit facility | $360.0M | $0 | $90.0M | $130.0M |
| Asset-backed securitizations, net | $0 | $924.3M | $1.9B | $1.9B |
| Unsecured senior notes, net | $4.7B | $4.1B | $2.5B | $2.5B |
| Accounts payable and accrued expenses | $436.9M | $521.8M | $573.7M | $484.4M |
| Total liabilities | $5.5B | $5.5B | $5.0B | $5.0B |
| Common stock value | $3.7M | $3.7M | $3.6M | $3.5M |
| Preferred shares | 92.0K | 92.0K | 92.0K | 92.0K |
| Additional paid-in capital | $7.4B | $7.5B | $7.4B | $6.9B |
| Accumulated deficit | ($387.6M) | ($380.6M) | ($394.9M) | ($440.8M) |
| Accumulated other comprehensive income | $6.6M | $7.9M | $843.0K | $1.3M |
| Total shareholders' equity | $7.0B | $7.2B | $7.0B | $6.5B |
| Noncontrolling interest | $675.8M | $688.6M | $685.4M | $678.7M |
| Total equity | $7.7B | $7.8B | $7.7B | $7.2B |
| Total liabilities and equity/capital | $13.2B | $13.4B | $12.7B | $12.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $2.4B | $2.4B | $2.4B | $2.4B |
| Buildings and improvements | $12.2B | $12.1B | $11.9B | $11.8B |
| Single-family properties in operation | $14.7B | $14.5B | $14.3B | $14.2B |
| Less: accumulated depreciation | ($3.5B) | ($3.4B) | ($3.3B) | ($3.2B) |
| Single-family properties in operation, net | $11.1B | $11.0B | $11.0B | $10.9B |
| Single-family properties under development and development land | $989.6M | $1.1B | $1.2B | $1.3B |
| Single-family properties and land held for sale, net | $208.4M | $235.5M | $219.6M | $242.4M |
| Total real estate assets, net | $12.3B | $12.4B | $12.5B | $12.5B |
| Cash and cash equivalents | $83.7M | $63.3M | $45.6M | $323.3M |
| Restricted cash | $174.0M | $144.9M | $130.1M | $143.3M |
| Rent and other receivables | $45.4M | $48.2M | $56.5M | $50.4M |
| Escrow deposits, prepaid expenses and other assets | $224.4M | $239.1M | $268.1M | $307.2M |
| Investments in unconsolidated joint ventures | $147.3M | $150.7M | $162.0M | $147.8M |
| Goodwill | $120.3M | $120.3M | $120.3M | $120.3M |
| Total assets | $13.1B | $13.2B | $13.3B | $13.6B |
| Revolving credit facility | $390.0M | $390.0M | $110.0M | $0 |
| Unsecured senior notes, net | $4.7B | $4.7B | $4.7B | $4.7B |
| Accounts payable and accrued expenses | $512.0M | $447.1M | $572.0M | $588.2M |
| Total liabilities | $5.6B | $5.6B | $5.4B | $5.7B |
| Common stock value | $3.6M | $3.6M | $3.7M | $3.7M |
| Preferred shares | 92.0K | 92.0K | 92.0K | 92.0K |
| Additional paid-in capital | $7.2B | $7.3B | $7.6B | $7.5B |
| Accumulated deficit | ($385.9M) | ($380.2M) | ($400.4M) | ($388.7M) |
| Accumulated other comprehensive income | $6.0M | $6.3M | $6.9M | $7.2M |
| Total shareholders’ equity | $6.8B | $6.9B | $7.2B | $7.2B |
| Noncontrolling interest | $671.4M | $672.2M | $676.7M | $680.3M |
| Total equity | $7.5B | $7.6B | $7.8B | $7.8B |
| Total liabilities and equity/capital | $13.1B | $13.2B | $13.3B | $13.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $513.4M | $468.1M | $432.1M | $310.0M |
| Depreciation and amortization | $504.3M | $477.0M | $456.6M | $426.5M |
| Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments | $10.0M | $11.5M | $12.3M | $11.7M |
| Noncash share-based compensation | $25.8M | $31.0M | $25.4M | $27.3M |
| Loss on early extinguishment of debt | $396.0K | $6.3M | — | — |
| Equity in net (income) loss of unconsolidated entities | ($320.0K) | $6.0K | ($1.2M) | ($3.1M) |
| Return on investment from unconsolidated joint ventures | $3.6M | $1.9M | $3.3M | $5.7M |
| Gain on sale and impairment of single-family properties and other, net | ($231.5M) | ($225.8M) | ($209.8M) | ($136.5M) |
| Rent and other receivables | $1.3M | ($1.7M) | $879.0K | ($8.1M) |
| Prepaid expenses and other assets | $22.0M | $11.2M | ($21.5M) | ($7.1M) |
| Deferred leasing costs | ($3.6M) | ($4.0M) | ($3.1M) | ($2.6M) |
| Accounts payable and accrued expenses | $18.2M | $34.4M | $44.3M | $43.6M |
| Amounts due from related parties | $690.0K | $1.5M | ($421.0K) | ($1.9M) |
| Net cash provided by operating activities | $864.3M | $811.5M | $738.7M | $665.5M |
| Cash paid for single-family properties | ($23.6M) | ($495.9M) | ($12.8M) | ($595.2M) |
| Change in escrow deposits for purchase of single-family properties | ($2.5M) | $5.5M | $4.9M | $20.4M |
| Net proceeds received from sales of single-family properties and other | $630.4M | $573.2M | $469.5M | $292.5M |
| Proceeds received from storm-related insurance claims | $4.0M | $0 | $4.0M | $2.0M |
| Proceeds from notes receivable related to the sale of properties | $215.0K | $540.0K | $698.0K | $34.1M |
| Investment in unconsolidated joint ventures | ($15.1M) | ($19.7M) | ($12.6M) | ($25.3M) |
| Distributions from unconsolidated entities | $78.7M | $116.3M | $47.7M | $68.3M |
| Renovations to single-family properties | ($40.6M) | ($34.1M) | ($40.1M) | ($98.0M) |
| Recurring and other capital expenditures for single-family properties | ($118.2M) | ($121.8M) | ($134.2M) | ($138.8M) |
| Cash paid for development activity | ($810.5M) | ($845.9M) | ($979.8M) | ($921.4M) |
| Cash paid for deposits on land option contracts | $0 | ($653.0K) | ($1.1M) | ($14.5M) |
| Proceeds from asset-backed securitization certificates | $0 | $25.7M | — | — |
| Other investing activities | ($30.9M) | ($29.2M) | ($38.8M) | ($49.6M) |
| Net cash used for investing activities | ($328.2M) | ($825.9M) | ($692.6M) | ($1.4B) |
| Proceeds from issuance of Class A common shares | 0 | 143.1M | 398.6M | 561.5M |
| Payments of Class A common share issuance costs | $0 | ($257.0K) | ($400.0K) | ($200.0K) |
| Repurchases of Class A common shares | -150.1M | — | — | — |
| Proceeds from issuances under share-based compensation plans | 6.1M | 6.4M | 6.5M | 4.9M |
| Payments related to tax withholding for share-based compensation | ($11.9M) | ($9.0M) | ($4.0M) | ($4.8M) |
| Payments on asset-backed securitizations | ($925.8M) | ($952.2M) | ($24.5M) | ($22.6M) |
| Proceeds from revolving credit facility | $770.0M | $400.0M | $200.0M | $620.0M |
| Payments on revolving credit facility | ($410.0M) | ($490.0M) | ($240.0M) | ($840.0M) |
| Proceeds from unsecured senior notes, net of discount | $646.4M | $1.6B | $0 | $876.8M |
| Settlement of cash flow hedging instruments | $31.0K | $8.6M | $0 | $0 |
| Payments related to liabilities to repurchase consolidated land not owned | ($54.0M) | ($82.0M) | — | — |
| Distributions to noncontrolling interests | ($61.0M) | ($53.3M) | ($45.1M) | ($36.9M) |
| Distributions to common shareholders | ($446.3M) | ($383.5M) | ($319.5M) | ($252.5M) |
| Distributions to preferred shareholders | ($13.9M) | ($13.9M) | ($13.9M) | ($17.1M) |
| Deferred financing costs paid | ($5.2M) | ($25.2M) | $0 | ($8.2M) |
| Net cash (used for) provided by financing activities | ($655.7M) | $142.7M | ($42.2M) | $786.2M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ($119.5M) | $128.4M | $3.9M | $26.2M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $281.8M | $148.8M | $369.1M | $252.3M |
| Depreciation and amortization | $254.9M | $127.3M | $378.5M | $251.9M |
| Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments | $4.8M | $2.4M | $7.6M | $4.9M |
| Noncash share-based compensation | $13.4M | $6.8M | $20.4M | $14.1M |
| Loss on early extinguishment of debt | $0 | $0 | $396.0K | $216.0K |
| Equity in net loss (income) of unconsolidated entities | $1.7M | $1.2M | ($30.0K) | ($40.0K) |
| Return on investment from unconsolidated joint ventures | $975.0K | $0 | $3.0M | $1.7M |
| Gain on sale and impairment of single-family properties and other, net | ($137.9M) | ($78.4M) | ($161.5M) | ($113.9M) |
| Rent and other receivables | ($2.5M) | ($5.3M) | ($10.5M) | ($2.0M) |
| Prepaid expenses and other assets | $8.3M | ($5.9M) | $19.6M | $6.2M |
| Deferred leasing costs | ($1.6M) | ($627.0K) | ($3.1M) | ($2.3M) |
| Accounts payable and accrued expenses | $73.0M | $10.0M | $94.0M | $80.8M |
| Amounts due from related parties | ($1.2M) | ($3.1M) | $1.1M | $1.4M |
| Net cash provided by operating activities | $495.7M | $203.1M | $718.5M | $495.3M |
| Cash paid for single-family properties | $0 | $0 | ($19.0M) | ($5.6M) |
| Change in escrow deposits for purchase of single-family properties and land | ($844.0K) | ($968.0K) | ($3.1M) | ($2.9M) |
| Net proceeds received from sales of single-family properties and other | $403.1M | $198.4M | $422.2M | $280.3M |
| Proceeds received from storm-related insurance claims | $240.0K | $212.0K | $2.4M | — |
| Proceeds from notes receivable related to the sale of properties | $122.0K | $59.0K | $215.0K | $134.0K |
| Investment in unconsolidated joint ventures | ($7.8M) | ($4.8M) | ($12.6M) | ($8.2M) |
| Distributions from unconsolidated entities | $8.0M | $2.8M | $63.9M | $18.5M |
| Renovations to single-family properties | ($25.1M) | ($9.4M) | ($30.3M) | ($21.6M) |
| Recurring and other capital expenditures for single-family properties | ($49.2M) | ($23.2M) | ($93.8M) | ($61.7M) |
| Cash paid for development activity | ($288.4M) | ($145.5M) | ($587.9M) | ($412.5M) |
| Other investing activities | ($13.1M) | ($7.4M) | ($22.6M) | ($15.0M) |
| Net cash provided by (used for) investing activities | $27.1M | $10.3M | ($280.6M) | ($228.4M) |
| Repurchases of Class A common shares | -238.2M | -115.1M | — | — |
| Proceeds from issuances under share-based compensation plans | 2.6M | 388.0K | 4.1M | 4.0M |
| Payments related to tax withholding for share-based compensation | ($9.7M) | ($9.6M) | ($11.8M) | ($11.6M) |
| Payments on asset-backed securitizations | $0 | $0 | ($925.8M) | ($498.1M) |
| Proceeds from revolving credit facility | $110.0M | $30.0M | $520.0M | $410.0M |
| Payments on revolving credit facility | ($80.0M) | — | ($410.0M) | ($410.0M) |
| Proceeds from unsecured senior notes, net of discount | $0 | — | $646.4M | $646.4M |
| Settlement of cash flow hedging instruments | $0 | — | $31.0K | $31.0K |
| Payments related to liabilities to repurchase consolidated land not owned | $0 | $0 | ($38.2M) | ($24.6M) |
| Distributions to noncontrolling interests | ($33.0M) | ($16.5M) | ($45.8M) | ($30.6M) |
| Distributions to common shareholders | ($240.6M) | ($121.5M) | ($335.6M) | ($224.0M) |
| Distributions to preferred shareholders | ($7.0M) | ($3.5M) | ($10.5M) | ($7.0M) |
| Deferred financing costs paid | $0 | — | ($5.2M) | ($5.0M) |
| Net cash used for financing activities | ($495.8M) | ($235.8M) | ($612.4M) | ($150.5M) |
| Net increase in cash, cash equivalents and restricted cash | $27.0M | ($22.5M) | ($174.5M) | $116.4M |
| Cash, cash equivalents and restricted cash, beginning of period (see Note 3) | $230.7M | $230.7M | $350.2M | $350.2M |
| Cash, cash equivalents and restricted cash, end of period (see Note 3) | $257.7M | $208.2M | $175.7M | $466.6M |
| Cash payments for interest, net of amounts capitalized | ($93.1M) | ($66.2M) | ($147.2M) | ($79.6M) |
| Accrued property renovations and development expenditures | $44.7M | $43.8M | $48.3M | $55.0M |
American Homes 4 Rent score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.