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UDR

UDR NYSE Multi-Family Residential REITs Financials FY2016–FY2025

UDR's revenue rose 2.4% to $1.7 billion in fiscal 2025. Its operating margin was 32.3%, up from 17.0% a year earlier. It paid out $686 million in dividends and buybacks. The diluted share count rose 0.3%.

Last close · Oct 23, 2026

$35.84

0.9%
Value it Compare
Revenue Total sales reported in the income statement.
$1.7B
2.4% vs prior year
Operating margin Operating income as a share of revenue.
32.3%
15.3 pts
Net income Profit after all expenses, interest and tax.
$378M
321.5%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.0%
3.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$11.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
24.4x
On $1.47 EPS (TTM)

About these figures. UDR's redeemable minority stakes (operating partnership units) are counted between liabilities and equity in the balance-sheet check. UDR's cash flow statement splits its spending on its properties across several lines (capital improvements and development) with no total, so capital spending and free cash flow are left blank.

What UDR does

No business description yet.

Legal name
UDR, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000074208-26-000013
0000074208

Revenue and margins

UDR had $1.7B of revenue in fiscal 2025, up 2.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 0.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

UDR returned $686M to shareholders in fiscal 2025. The diluted share count rose 0.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value UDR yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$5.8B and divides by 331.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 24.4x · peers 35.0x · sector 28.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably UDR can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.0M$1.2M$2.9M$1.3M$1.2M
Debt incl. finance leases $5.4B$5.5B$5.8B$5.8B$5.8B
Net debt / EBITDA 6.1x5.9x4.4x5.9x4.7x
Debt / equity 1.6x1.3x1.5x1.7x1.8x
Interest coverage 1.4x1.6x3.5x1.5x2.8x
Total assets $10.8B$11.0B$11.4B$10.9B$10.6B
Total liabilities $6.0B$6.1B$6.4B$6.4B$6.5B
Shareholders' equity $3.4B$4.1B$4.0B$3.4B$3.3B
Net debt (− = net cash) $5.4B$5.5B$5.8B$5.8B$5.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$3.1M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 5, 2026 Thomas W ToomeyChairman, President and CEO, Director Sold 80,000 $39.25 $3.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −3.5%−7.1%−4.9%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
UDR UDR $11.8B 2.4% 32.3% — 6.0% 24.4x —
Camden Property Trust CPT $10.4B 1.9% — 24.5% 6.3% 33.8x — Compare →
Essex Property Trust ESS $17.9B 6.4% 47.7% — — 43.3x — Compare →
Mid-America Apartment Communities MAA $14.0B 0.8% — — 5.7% 36.3x — Compare →
Vivmark Residential VMRK $24.2B 3.8% — — 7.6% 27.3x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $960M $996M $1.0B $1.2B $1.2B $1.3B $1.5B $1.6B $1.7B $1.7B
Operating income $401M $228M $355M $221M $249M $268M $251M $635M $285M $554M
Interest expense $123M $129M $134M $171M $203M $186M $156M $181M $196M $197M
Pretax income $332M $132M $222M $203M $71.5M $162M $92.9M $477M $96.8M $405M
Income tax $11.6M −$0.2M $0.7M $3.8M $2.5M $1.4M $0.3M $2.1M $0.9M $0.8M
Net income $293M $122M $203M $185M $64.3M $150M $86.9M $444M $89.6M $378M
Diluted EPS $1.08 $0.44 $0.74 $0.63 $0.20 $0.48 $0.26 $1.34 $0.26 $1.13
Diluted shares 0.27B 0.27B 0.27B 0.29B 0.29B 0.30B 0.32B 0.33B 0.33B 0.33B
Cash flow
Cash from operations $537M $519M $561M $631M $604M $664M $820M $833M $877M $903M
Depreciation and amortization $426M $437M $436M $508M $619M $620M $680M $692M $696M $680M
Stock-based compensation $13.4M $12.9M $14.2M $24.3M $19.6M $22.1M $27.5M $32.9M $32.6M $26.5M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $20.0M $0.0M $19.8M $0.0M $49.0M $25.0M $0.0M $118M
Dividends paid $309M $328M $342M $383M $419M $434M $484M $540M $559M $568M
Dividends and buybacks $309M $328M $362M $383M $439M $434M $533M $565M $558M $686M
Balance sheet
Cash and short-term investments $2.1M $2.0M $185M $8.1M $1.4M $1.0M $1.2M $2.9M $1.3M $1.2M
Total debt $3.4B $3.7B $3.5B $4.7B $5.0B $5.4B $5.5B $5.8B $5.8B $5.8B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $7.7B $7.7B $7.7B $9.6B $9.6B $10.8B $11.0B $11.4B $10.9B $10.6B
Total liabilities $3.7B $3.9B $3.8B $5.2B $5.5B $6.0B $6.1B $6.4B $6.4B $6.5B
Shareholders' equity $3.1B $2.8B $2.9B $3.4B $3.2B $3.4B $4.1B $4.0B $3.4B $3.3B
Margins
Operating margin 41.8% 22.9% 33.9% 19.2% 20.1% 20.8% 16.5% 39.0% 17.0% 32.3%
EBITDA margin 86.1% 66.7% 75.5% 63.3% 69.9% 68.8% 61.3% 81.5% 58.6% 72.1%
Net margin 30.5% 12.2% 19.4% 16.1% 5.2% 11.6% 5.7% 27.3% 5.4% 22.1%
Returns
Return on capital 6.0% 3.5% 5.5% 3.0% 2.9% 3.1% 2.7% 6.5% 3.0% 6.0%
Return on equity 9.8% 4.1% 7.1% 5.9% 2.0% 4.5% 2.3% 11.0% 2.4% 11.2%
Return on assets 3.8% 1.6% 2.6% 2.1% 0.7% 1.5% 0.8% 4.0% 0.8% 3.5%
Growth
Revenue growth 10.1% 3.7% 5.1% 10.1% 7.7% 4.0% 17.6% 7.3% 2.7% 2.4%
Net income growth −14.0% −58.5% 67.1% −8.9% −65.3% 133.4% −42.1% 411.2% −79.8% 321.6%
EPS growth −16.3% −59.3% 68.2% −14.9% −68.3% 140.0% −45.8% 415.4% −80.6% 334.6%
Share count change 1.4% 0.6% 0.2% 6.1% 3.1% 2.3% 7.0% 2.0% 0.3% 0.3%
Financial health
Net debt / EBITDA 4.1x 5.5x 4.3x 6.5x 5.7x 6.1x 5.9x 4.4x 5.9x 4.7x
Debt / equity 1.1x 1.3x 1.2x 1.4x 1.5x 1.6x 1.3x 1.5x 1.7x 1.8x
Interest coverage 3.3x 1.8x 2.6x 1.3x 1.2x 1.4x 1.6x 3.5x 1.5x 2.8x
Capital allocation
Stock comp / revenue 1.4% 1.3% 1.4% 2.1% 1.6% 1.7% 1.8% 2.0% 2.0% 1.6%
Quality scores
Accruals ratio −3.2% −5.2% −4.6% −5.1% −5.6% −5.0% −6.7% −3.5% −7.1% −4.9%

Source: SEC EDGAR XBRL filings (CIK 0000074208). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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