American Homes 4 Rent

AMHNYSEReal Estate● Active

$32.83

$-0.45(-1.34%)

Market Cap$11.8B

P/E Ratio—

52W High$37.23

52W Low$27.22

Avg Volume3.2M

Open$33.30

Beta0.82

Free Cash Flow Financials Revenue

American Homes 4 Rent (AMH) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AMH · free cash flow · updated Jun 8, 2026

Core FCF metrics

AMH · FCF · TTM · margin & CAGR

Free cash flow was $746.1M for FY2025 (fiscal year ending 2025-12-31), up 8.2% year-over-year The FCF margin was 40.0%. Five-year CAGR stands at +15.1%.

FY2025 Free Cash Flow$746.1M▲ +8.2% YoY

Trailing 12M (TTM)$851.7Mtrailing 4 quarters sum

FCF Margin40.0%$746.1M ÷ revenue

3-Year CAGR+12.3%FY2022 → FY2025

5-Year CAGR+15.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AMH · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$864.3M(118M)$746.1M▲ +8.2%40.0%

FY2024$811.5M(122M)$689.8M▲ +14.1%39.9%

FY2023$738.7M(134M)$604.5M▲ +14.8%37.2%

FY2022$665.5M(139M)$526.7M▲ +11.4%35.3%

FY2021$595.2M(123M)$472.6M▲ +28.0%36.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AMH · P/FCF · FCF yield · FCF per share

American Homes 4 Rent (AMH) trades at a FCF yield of 7.13% and a price-to-free-cash-flow ratio of 14.3x. FCF per share stands at $2.30, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.13%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.30

TTM FCF ÷ Shares Outstanding

Price / FCF

x14.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x20.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AMH · cash flow statement · operating / investing / financing

For FY2025, American Homes 4 Rent generated $864.3M in operating cash flow and spent 118M in capital expenditures, yielding $746.1M in free cash flow.

Operating Activities

+$864.3M

Cash from core business operations

2025-12-31

Investing Activities

−$328.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$655.7M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($864.3M) − |CapEx| (118M) = FCF ($746.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

AMH vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

American Homes 4 RentYOU

AMH

$746.1M+8.2%40.0%

15%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

American Homes 4 Rent (AMH) reported free cash flow of $746.1M for FY2025 (fiscal year ending 2025-12-31), up 8.2% year-over-year. The FCF margin was 40.0%.

Based on available data, American Homes 4 Rent has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $746.1M in FY2025. The 5-year CAGR stands at +15.1%.

American Homes 4 Rent's FCF yield is 7.13% and price-to-FCF ratio is 14.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AMH free cash flow · 8 questions

American Homes 4 Rent free cash flow was $746.1M for FY2025, up 8.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $851.7M.

AMH free cash flowAMH FCFAMH FCF 2025AMH free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · American Homes 4 Rent · American Homes 4 Rent SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026