Essex Property Trust, Inc.

ESSNYSEReal Estate● Active

$285.20

$-0.23(-0.08%)

Market Cap$18.3B

P/E Ratio—

52W High$294.09

52W Low$238.46

Avg Volume482K

Open$287.89

Beta0.73

Free Cash Flow Financials Revenue

Essex Property Trust, Inc. (ESS) Free Cash Flow & Analysis

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

ESS · free cash flow · updated Jun 8, 2026

Core FCF metrics

ESS · FCF · TTM · margin & CAGR

Free cash flow was $1.07B for FY2025 (fiscal year ending 2025-12-31), up 15.3% year-over-year The FCF margin was 56.5%. Five-year CAGR stands at +8.6%.

FY2025 Free Cash Flow$1.07B▲ +15.3% YoY

Trailing 12M (TTM)$964.4Mtrailing 4 quarters sum

FCF Margin56.5%$1.07B ÷ revenue

3-Year CAGR+9.8%FY2022 → FY2025

5-Year CAGR+8.6%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

ESS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.07B(0M)$1.07B▲ +15.3%56.5%

FY2024$1.07B(136M)$931.9M▲ +11.0%52.5%

FY2023$980.1M(140M)$839.7M▲ +3.4%50.3%

FY2022$975.6M(163M)$812.5M▲ +3.6%50.6%

FY2021$905.3M(121M)$784.1M▲ +10.0%54.4%

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

FCF valuation metrics

ESS · P/FCF · FCF yield · FCF per share

Essex Property Trust, Inc. (ESS) trades at a FCF yield of 5.26% and a price-to-free-cash-flow ratio of 19.1x. FCF per share stands at $14.96, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.26%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$14.96

TTM FCF ÷ Shares Outstanding

Price / FCF

x19.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.1

Enterprise Value basis

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

Cash flow statement summary

ESS · cash flow statement · operating / investing / financing

For FY2025, Essex Property Trust, Inc. generated $1.07B in operating cash flow and spent 0M in capital expenditures, yielding $1.07B in free cash flow.

Operating Activities

+$1.07B

Cash from core business operations

2025-12-31

Investing Activities

−$552.5M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$512.2M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.07B) − |CapEx| (0M) = FCF ($1.07B)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

ESS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Essex Property Trust, Inc.YOU

ESS

$1.07B+15.3%56.5%

21%

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

Essex Property Trust, Inc. (ESS) reported free cash flow of $1.07B for FY2025 (fiscal year ending 2025-12-31), up 15.3% year-over-year. The FCF margin was 56.5%.

Based on available data, Essex Property Trust, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.07B in FY2025. The 5-year CAGR stands at +8.6%.

Essex Property Trust, Inc.'s FCF yield is 5.26% and price-to-FCF ratio is 19.1x 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

ESS free cash flow · 8 questions

Essex Property Trust, Inc. free cash flow was $1.07B for FY2025, up 15.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $964.4M.

ESS free cash flowESS FCFESS FCF 2025ESS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Essex Property Trust, Inc. · Essex Property Trust, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026