1.Sales and profit
See section →- American Homes 4 Rent had $1.9B of revenue in fiscal 2025, up 7.0% on the year before. Over five years, revenue changed +9.6% a year on average.
- American Homes 4 Rent made $513M of net profit in fiscal 2025.
American Homes 4 Rent
AMH NYSE Single-Family Residential REITs Financials FY2016–FY2025
American Homes 4 Rent had $1.9B of revenue in fiscal 2025, up 7.0% on the year before. Over five years, revenue changed +9.6% a year on average.
KIRA’s summary AI analyst
Hi! I read American Homes 4 Rent’s latest annual report (fiscal 2025). Here is what stands out:
3 strengths
2.Cash and shareholders
See section →- Free cash flow was $824M in fiscal 2025, 44.5% of revenue.
- American Homes 4 Rent returned $446M to shareholders in fiscal 2025, 54% of free cash flow. The diluted share count rose 0.8%.
- In the last 12 months, insiders bought $1.1M and sold $0.2M of shares on the open market.
3.Financial health
See section →- American Homes 4 Rent owes $5.0B more than it holds in cash.
4.Price and value
See section →- At $32.11 a share, the company is worth $11.6B: 25.5 times its earnings of the last four quarters.
- American Homes 4 Rent grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 2 of 4.
American Homes 4 Rent in 30 seconds
Good So-so Weak
Good
Are sales growing?
+7.0%
Yes. Sales grew 7.0% last year.
Good
Does it make a profit?
27.8%
Yes. It keeps 27.8% of every sale as profit.
Good
Does profit turn into cash?
44.5%
Yes. 44.5% of sales ends up as free cash.
For information
How is the share priced?
25.5x
One share costs 25.5 times its yearly profit per share. Typical for its sector: 28.2x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$11.6B
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
25.5x
On $1.26 EPS (TTM)
About these figures. American Homes 4 Rent's revenue is its rental and other single-family property income, which its filings tag as lease income rather than as revenue.
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA · American Homes 4 Rent had $1.9B of revenue in fiscal 2025, up 7.0% on the year before. Over five years, revenue changed +9.6% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $879M
FY17
Revenue $960M
FY18
Revenue $1.1B
FY19
Revenue $1.1B
FY20
Revenue $1.2B
FY21
Revenue $1.3B
FY22
Revenue $1.5B
FY23
Revenue $1.6B
FY24
Revenue $1.7B
FY25
Revenue $1.9B
Revenue
Q3 '23
Revenue $422M
Q4 '23
Revenue $409M
Q1 '24
Revenue $424M
Q2 '24
Revenue $424M
Q3 '24
Revenue $445M
Q4 '24
Revenue $437M
Q1 '25
Revenue $459M
Q2 '25
Revenue $458M
Q3 '25
Revenue $479M
Q4 '25
Revenue $455M
Q1 '26
Revenue $472M
Q2 '26
Revenue $470M
Margins, % of revenue
FY16
Gross —
Operating —
Net 1.2%
FCF 27.2%
FY17
Gross —
Operating —
Net 8.0%
FCF 35.2%
FY18
Gross —
Operating —
Net 10.5%
FCF 33.4%
FY19
Gross —
Operating —
Net 13.7%
FCF 38.1%
FY20
Gross —
Operating —
Net 13.2%
FCF 39.0%
FY21
Gross —
Operating —
Net 16.2%
FCF 42.0%
FY22
Gross —
Operating —
Net 20.8%
FCF 38.1%
FY23
Gross —
Operating —
Net 26.6%
FCF 43.0%
FY24
Gross —
Operating —
Net 27.1%
FCF 45.0%
FY25
Gross —
Operating —
Net 27.8%
FCF 44.5%
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross —
Operating —
Net 20.9%
FCF 47.1%
Q4 '23
Gross —
Operating —
Net 22.3%
FCF 24.2%
Q1 '24
Gross —
Operating —
Net 30.2%
FCF 45.1%
Q2 '24
Gross —
Operating —
Net 25.6%
FCF 62.2%
Q3 '24
Gross —
Operating —
Net 19.7%
FCF 50.6%
Q4 '24
Gross —
Operating —
Net 33.0%
FCF 22.4%
Q1 '25
Gross —
Operating —
Net 28.0%
FCF 47.0%
Q2 '25
Gross —
Operating —
Net 27.0%
FCF 56.3%
Q3 '25
Gross —
Operating —
Net 24.4%
FCF 44.8%
Q4 '25
Gross —
Operating —
Net 31.7%
FCF 29.8%
Q1 '26
Gross —
Operating —
Net 31.5%
FCF 41.0%
Q2 '26
Gross —
Operating —
Net 28.3%
FCF 58.9%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA · American Homes 4 Rent made $513M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income $10.4M
FY17
Net income $76.5M
FY18
Net income $112M
FY19
Net income $156M
FY20
Net income $155M
FY21
Net income $211M
FY22
Net income $310M
FY23
Net income $432M
FY24
Net income $468M
FY25
Net income $513M
Net income
Q3 '23
Net income $88.1M
Q4 '23
Net income $90.9M
Q1 '24
Net income $128M
Q2 '24
Net income $109M
Q3 '24
Net income $87.6M
Q4 '24
Net income $144M
Q1 '25
Net income $129M
Q2 '25
Net income $124M
Q3 '25
Net income $117M
Q4 '25
Net income $144M
Q1 '26
Net income $149M
Q2 '26
Net income $133M
Diluted EPS
FY16
Diluted EPS −$0.14
FY17
Diluted EPS −$0.08
FY18
Diluted EPS $0.08
FY19
Diluted EPS $0.29
FY20
Diluted EPS $0.28
FY21
Diluted EPS $0.41
FY22
Diluted EPS $0.71
FY23
Diluted EPS $1.01
FY24
Diluted EPS $1.08
FY25
Diluted EPS $1.18
Diluted EPS
Q3 '23
Diluted EPS $0.20
Q4 '23
Diluted EPS $0.21
Q1 '24
Diluted EPS $0.30
Q2 '24
Diluted EPS $0.25
Q3 '24
Diluted EPS $0.20
Q4 '24
Diluted EPS $0.33
Q1 '25
Diluted EPS $0.30
Q2 '25
Diluted EPS $0.28
Q3 '25
Diluted EPS $0.27
Q4 '25
Diluted EPS $0.33
Q1 '26
Diluted EPS $0.35
Q2 '26
Diluted EPS $0.31
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA · Free cash flow was $824M in fiscal 2025, 44.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow $239M
FY17
Free cash flow $338M
FY18
Free cash flow $359M
FY19
Free cash flow $436M
FY20
Free cash flow $457M
FY21
Free cash flow $548M
FY22
Free cash flow $568M
FY23
Free cash flow $699M
FY24
Free cash flow $777M
FY25
Free cash flow $824M
Free cash flow
Q3 '23
Free cash flow $199M
Q4 '23
Free cash flow $99.1M
Q1 '24
Free cash flow $191M
Q2 '24
Free cash flow $263M
Q3 '24
Free cash flow $225M
Q4 '24
Free cash flow $97.9M
Q1 '25
Free cash flow $216M
Q2 '25
Free cash flow $258M
Q3 '25
Free cash flow $215M
Q4 '25
Free cash flow $135M
Q1 '26
Free cash flow $194M
Q2 '26
Free cash flow $277M
Cash from operations vs capital spending
FY16
Cash from operations $279M
Capital spending $39.9M
FY17
Cash from operations $386M
Capital spending $47.9M
FY18
Cash from operations $411M
Capital spending $52.4M
FY19
Cash from operations $458M
Capital spending $21.9M
FY20
Cash from operations $474M
Capital spending $17.0M
FY21
Cash from operations $595M
Capital spending $47.7M
FY22
Cash from operations $666M
Capital spending $98.0M
FY23
Cash from operations $739M
Capital spending $40.1M
FY24
Cash from operations $812M
Capital spending $34.1M
FY25
Cash from operations $864M
Capital spending $40.6M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $208M
Capital spending $9.0M
Q4 '23
Cash from operations $115M
Capital spending $16.3M
Q1 '24
Cash from operations $202M
Capital spending $10.8M
Q2 '24
Cash from operations $274M
Capital spending $10.7M
Q3 '24
Cash from operations $234M
Capital spending $8.2M
Q4 '24
Cash from operations $102M
Capital spending $4.3M
Q1 '25
Cash from operations $223M
Capital spending $7.5M
Q2 '25
Cash from operations $272M
Capital spending $14.1M
Q3 '25
Cash from operations $223M
Capital spending $8.7M
Q4 '25
Cash from operations $146M
Capital spending $10.3M
Q1 '26
Cash from operations $203M
Capital spending $9.4M
Q2 '26
Cash from operations $293M
Capital spending $15.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA · American Homes 4 Rent returned $446M to shareholders in fiscal 2025, 54% of free cash flow. The diluted share count rose 0.8%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends $48.2M
Buybacks $96.1M
FY17
Dividends $38.9M
Buybacks $0.0M
FY18
Dividends $58.4M
Buybacks $35.0M
FY19
Dividends $59.8M
Buybacks $0.0M
FY20
Dividends $61.1M
Buybacks $0.0M
FY21
Dividends $146M
Buybacks $0.0M
FY22
Dividends $253M
Buybacks $0.0M
FY23
Dividends $320M
Buybacks $0.0M
FY24
Dividends $384M
Buybacks $0.0M
FY25
Dividends $446M
Buybacks $0.0M
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $79.9M
Buybacks $0.0M
Q4 '23
Dividends $79.9M
Buybacks $0.0M
Q1 '24
Dividends $95.9M
Buybacks $0.0M
Q2 '24
Dividends $95.6M
Buybacks $0.0M
Q3 '24
Dividends $95.6M
Buybacks $0.0M
Q4 '24
Dividends $96.4M
Buybacks $0.0M
Q1 '25
Dividends $112M
Buybacks $0.0M
Q2 '25
Dividends $112M
Buybacks $0.0M
Q3 '25
Dividends $112M
Buybacks $0.0M
Q4 '25
Dividends $111M
Buybacks $0.0M
Q1 '26
Dividends $122M
Buybacks $0.0M
Q2 '26
Dividends $119M
Buybacks $0.0M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.23B
FY17
Diluted shares 0.26B
FY18
Diluted shares 0.29B
FY19
Diluted shares 0.30B
FY20
Diluted shares 0.31B
FY21
Diluted shares 0.33B
FY22
Diluted shares 0.35B
FY23
Diluted shares 0.36B
FY24
Diluted shares 0.37B
FY25
Diluted shares 0.37B
Insider trades
KIRA · In the last 12 months, insiders bought $1.1M and sold $0.2M of shares on the open market.
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.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.1M
3 insiders
Sold, 12 months
$0.2M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Jack E CorriganDirector | Bought | 8,000 | $21.50 | $0.2M | Form 4 |
| Sep 10, 2026 | Jack E CorriganDirector | Bought | 1,000 | $21.60 | $0.0M | Form 4 |
| Aug 24, 2026 | Jack E CorriganDirector | Bought | 5,800 | $22.42 | $0.1M | Form 4 |
| Aug 12, 2026 | Douglas N BenhamDirector | Bought | 500 | $22.51 | $0.0M | Form 4 |
| Aug 11, 2026 | Douglas N BenhamDirector | Bought | 3,500 | $23.23 | $0.1M | Form 4 |
| Aug 10, 2026 | Jack E CorriganDirector | Bought | 5,000 | $22.80 | $0.1M | Form 4 |
| May 18, 2026 | Jack E CorriganDirector | Bought | 2,041 | $23.53 | $0.0M | Form 4 |
| May 15, 2026 | Jack E CorriganDirector | Bought | 1,359 | $23.40 | $0.0M | Form 4 |
| May 13, 2026 | Jack E CorriganDirector | Bought | 1,594 | $23.25 | $0.0M | Form 4 |
| May 12, 2026 | Jack E CorriganDirector | Bought | 6 | $23.00 | $0.0M | Form 4 |
| Mar 3, 2026 | David GoldbergDirector | Bought | 2,000 | $29.30 | $0.1M | Form 4 |
| Mar 2, 2026 | Douglas N BenhamDirector | Bought | 1,200 | $24.20 | $0.0M | Form 4 |
| Feb 25, 2026 | Douglas N BenhamDirector | Bought | 1,571 | $24.00 | $0.0M | Form 4 |
| Feb 24, 2026 | David GoldbergDirector | Bought | 2,000 | $29.17 | $0.1M | Form 4 |
| Feb 24, 2026 | Brian ReitzChief Accounting Officer | Sold | 7,000 | $29.34 | $0.2M | Form 4 |
| Feb 23, 2026 | Jack E CorriganDirector | Bought | 3,700 | $22.96 | $0.1M | Form 4 |
| Feb 23, 2026 | Douglas N BenhamDirector | Bought | 2,000 | $29.15 | $0.1M | Form 4 |
| Dec 9, 2025 | Jack E CorriganDirector | Bought | 5,000 | $22.96 | $0.1M | Form 4 |
| Nov 19, 2025 | Douglas N BenhamDirector | Bought | 1,000 | $31.65 | $0.0M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA · American Homes 4 Rent owes $5.0B more than it holds in cash.
Cash, debt and the ratios that show how comfortably American Homes 4 Rent can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $119M
Debt $2.9B
FY17
Cash $46.2M
Debt $2.5B
FY18
Cash $30.3M
Debt $2.8B
FY19
Cash $37.6M
Debt $2.8B
FY20
Cash $137M
Debt $2.8B
FY21
Cash $48.2M
Debt $3.9B
FY22
Cash $69.2M
Debt $4.5B
FY23
Cash $59.4M
Debt $4.5B
FY24
Cash $199M
Debt $5.0B
FY25
Cash $109M
Debt $5.1B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $48.2M | $69.2M | $59.4M | $199M | $109M |
| Debt incl. finance leases | $3.9B | $4.5B | $4.5B | $5.0B | $5.1B |
| Debt / equity | 0.6x | 0.7x | 0.6x | 0.7x | 0.7x |
| Total assets | $11.0B | $12.2B | $12.7B | $13.4B | $13.2B |
| Total liabilities | $4.2B | $5.0B | $5.0B | $5.5B | $5.5B |
| Shareholders' equity | $6.1B | $6.5B | $7.0B | $7.2B | $7.0B |
| Net debt (− = net cash) | $3.8B | $4.4B | $4.4B | $4.8B | $5.0B |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital —
Return on equity 0.3%
Return on assets 0.1%
FY17
Return on capital —
Return on equity 1.6%
Return on assets 0.9%
FY18
Return on capital —
Return on equity 2.2%
Return on assets 1.3%
FY19
Return on capital —
Return on equity 3.0%
Return on assets 1.7%
FY20
Return on capital —
Return on equity 2.8%
Return on assets 1.7%
FY21
Return on capital —
Return on equity 3.6%
Return on assets 2.1%
FY22
Return on capital —
Return on equity 4.9%
Return on assets 2.7%
FY23
Return on capital —
Return on equity 6.4%
Return on assets 3.5%
FY24
Return on capital —
Return on equity 6.6%
Return on assets 3.6%
FY25
Return on capital —
Return on equity 7.2%
Return on assets 3.9%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| 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 | −2.5% | −2.6% | −2.6% |
| Altman Z'' | — | — | — |
Price and value
What does the share cost, and how does it compare?
Value American Homes 4 Rent yourself
KIRA · At $32.11 a share, the company is worth $11.6B: 25.5 times its earnings of the last four quarters.
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.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Discounted cash flow
Value per share
—
Adds net cash of −$5.0B and divides by 370.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 25.3x · peers 27.8x · sector 28.2x.
Similar companies
KIRA · American Homes 4 Rent grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 2 of 4.
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| American Homes 4 Rent AMH | $11.6B | 7.0% | — | 44.5% | — | 25.5x | — | |
| Equity Lifestyle Properties ELS | $12.2B | 0.3% | 25.6% | 21.8% | 7.7% | 30.4x | — | Compare → |
| Sun Communities SUI | $15.0B | 2.0% | — | 17.7% | — | 10.8x | — | Compare → |
| Invitation Homes INVH | $16.3B | 4.2% | — | — | — | 25.2x | — | Compare → |
| Essex Property Trust ESS | $17.7B | 6.4% | 47.7% | — | — | 42.8x | — | Compare → |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $879M | $960M | $1.1B | $1.1B | $1.2B | $1.3B | $1.5B | $1.6B | $1.7B | $1.9B |
| Interest expense | $131M | $113M | $123M | $127M | $117M | $115M | $135M | $140M | $165M | $185M |
| Net income | $10.4M | $76.5M | $112M | $156M | $155M | $211M | $310M | $432M | $468M | $513M |
| Diluted EPS | −$0.14 | −$0.08 | $0.08 | $0.29 | $0.28 | $0.41 | $0.71 | $1.01 | $1.08 | $1.18 |
| Diluted shares | 0.23B | 0.26B | 0.29B | 0.30B | 0.31B | 0.33B | 0.35B | 0.36B | 0.37B | 0.37B |
| Cash flow | ||||||||||
| Cash from operations | $279M | $386M | $411M | $458M | $474M | $595M | $666M | $739M | $812M | $864M |
| Capital expenditure | $39.9M | $47.9M | $52.4M | $21.9M | $17.0M | $47.7M | $98.0M | $40.1M | $34.1M | $40.6M |
| Free cash flow | $239M | $338M | $359M | $436M | $457M | $548M | $568M | $699M | $777M | $824M |
| Depreciation and amortization | $299M | $297M | $319M | $329M | $343M | $373M | $427M | $457M | $477M | $504M |
| Stock-based compensation | $3.6M | $4.2M | $3.4M | $4.8M | $9.8M | $17.8M | $27.3M | $25.4M | $31.0M | $25.8M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $96.1M | $0.0M | $35.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $48.2M | $38.9M | $58.4M | $59.8M | $61.1M | $146M | $253M | $320M | $384M | $446M |
| Dividends and buybacks | $144M | $38.9M | $93.3M | $59.8M | $61.1M | $146M | $253M | $320M | $384M | $446M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $119M | $46.2M | $30.3M | $37.6M | $137M | $48.2M | $69.2M | $59.4M | $199M | $109M |
| Total debt | $2.9B | $2.5B | $2.8B | $2.8B | $2.8B | $3.9B | $4.5B | $4.5B | $5.0B | $5.1B |
| 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 | $8.1B | $8.6B | $9.0B | $9.1B | $9.6B | $11.0B | $12.2B | $12.7B | $13.4B | $13.2B |
| Total liabilities | $3.2B | $2.7B | $3.0B | $3.1B | $3.1B | $4.2B | $5.0B | $5.0B | $5.5B | $5.5B |
| Shareholders' equity | $4.2B | $5.1B | $5.3B | $5.3B | $5.8B | $6.1B | $6.5B | $7.0B | $7.2B | $7.0B |
| Margins | ||||||||||
| Net margin | 1.2% | 8.0% | 10.5% | 13.7% | 13.2% | 16.2% | 20.8% | 26.6% | 27.1% | 27.8% |
| FCF margin | 27.2% | 35.2% | 33.4% | 38.1% | 39.0% | 42.0% | 38.1% | 43.0% | 45.0% | 44.5% |
| Returns | ||||||||||
| Return on equity | 0.3% | 1.6% | 2.2% | 3.0% | 2.8% | 3.6% | 4.9% | 6.4% | 6.6% | 7.2% |
| Return on assets | 0.1% | 0.9% | 1.3% | 1.7% | 1.7% | 2.1% | 2.7% | 3.5% | 3.6% | 3.9% |
| Growth | ||||||||||
| Revenue growth | — | 9.3% | 11.7% | 6.6% | 2.6% | 11.2% | 14.3% | 8.9% | 6.5% | 7.0% |
| Net income growth | — | 632.3% | 47.0% | 39.0% | −0.9% | 36.0% | 47.2% | 39.4% | 8.3% | 9.7% |
| EPS growth | — | — | — | 262.5% | −3.5% | 46.4% | 73.2% | 42.3% | 6.9% | 9.3% |
| FCF growth | 269.2% | 41.5% | 6.1% | 21.6% | 4.9% | 19.8% | 3.7% | 23.1% | 11.3% | 5.9% |
| Share count change | 11.1% | 12.9% | 11.4% | 1.9% | 2.4% | 6.0% | 7.5% | 3.6% | 1.5% | 0.8% |
| Financial health | ||||||||||
| Debt / equity | 0.7x | 0.5x | 0.5x | 0.5x | 0.5x | 0.6x | 0.7x | 0.6x | 0.7x | 0.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 4.5% | 5.0% | 4.9% | 1.9% | 1.5% | 3.7% | 6.6% | 2.5% | 2.0% | 2.2% |
| Stock comp / revenue | 0.4% | 0.4% | 0.3% | 0.4% | 0.8% | 1.4% | 1.8% | 1.6% | 1.8% | 1.4% |
| Payouts / FCF | 60.4% | 11.5% | 26.0% | 13.7% | 13.4% | 26.7% | 44.5% | 45.7% | 49.3% | 54.2% |
| Quality scores | ||||||||||
| Accruals ratio | −3.6% | −3.7% | −3.4% | −3.3% | −3.4% | −3.7% | −3.1% | −2.5% | −2.6% | −2.6% |
Source: SEC EDGAR XBRL filings (CIK 0001562401). Data updated October 17, 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.