Equity Residential

EQRNYSEReal Estate● Active

$67.34

$-0.85(-1.25%)

Market Cap$25.2B

P/E Ratio—

52W High$70.21

52W Low$57.57

Avg Volume2.7M

Open$69.03

Beta0.76

Free Cash Flow Financials Revenue

Equity Residential (EQR) Free Cash Flow & Analysis

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

EQR · free cash flow · updated Jun 8, 2026

Core FCF metrics

EQR · FCF · TTM · margin & CAGR

Free cash flow was $1.29B for FY2025 (fiscal year ending 2025-12-31), up 2.8% year-over-year The FCF margin was 41.6%. Five-year CAGR stands at +3.3%.

FY2025 Free Cash Flow$1.29B▲ +2.8% YoY

Trailing 12M (TTM)$1.27Btrailing 4 quarters sum

FCF Margin41.6%$1.29B ÷ revenue

3-Year CAGR+1.8%FY2022 → FY2025

5-Year CAGR+3.3%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

EQR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.65B(359M)$1.29B▲ +2.8%41.6%

FY2024$1.57B(319M)$1.25B▲ +4.6%42.1%

FY2023$1.53B(334M)$1.20B▼ 1.9%41.7%

FY2022$1.45B(232M)$1.22B▲ +12.0%44.7%

FY2021$1.26B(169M)$1.09B▼ 0.7%44.3%

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

FCF valuation metrics

EQR · P/FCF · FCF yield · FCF per share

Equity Residential (EQR) trades at a FCF yield of 5.02% and a price-to-free-cash-flow ratio of 20.2x. FCF per share stands at $3.34, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.02%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$3.34

TTM FCF ÷ Shares Outstanding

Price / FCF

x20.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.7

Enterprise Value basis

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

Cash flow statement summary

EQR · cash flow statement · operating / investing / financing

For FY2025, Equity Residential generated $1.65B in operating cash flow and spent 359M in capital expenditures, yielding $1.29B in free cash flow.

Operating Activities

+$1.65B

Cash from core business operations

2025-12-31

Investing Activities

−$321.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.33B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.65B) − |CapEx| (359M) = FCF ($1.29B)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

EQR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Equity ResidentialYOU

EQR

$1.29B+2.8%41.6%

26%

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

Equity Residential (EQR) reported free cash flow of $1.29B for FY2025 (fiscal year ending 2025-12-31), up 2.8% year-over-year. The FCF margin was 41.6%.

Based on available data, Equity Residential has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.29B in FY2025. The 5-year CAGR stands at +3.3%.

Equity Residential's FCF yield is 5.02% and price-to-FCF ratio is 20.2x 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

EQR free cash flow · 8 questions

Equity Residential free cash flow was $1.29B for FY2025, up 2.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.27B.

EQR free cash flowEQR FCFEQR FCF 2025EQR free cash flow TTM

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