American Homes 4 Rent vs W. P. Carey
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KIRAβs take AI analyst
I put American Homes 4 Rent and W. P. Carey side by side, using each oneβs latest annual report. Here is what stands out:
- American Homes 4 Rent is the larger business, with $1.9B of revenue in fiscal 2025 against $1.7B for W. P. Carey.
- W. P. Carey grew revenue faster (8.4%, against 7.0%).
- Investors pay more for each dollar of American Homes 4 Rentβs earnings: a P/E of 25.3x against 21.7x for W. P. Carey.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
American Homes 4 Rent
AMH
3/5
5-year growthNet marginReturn on equity
W. P. Carey
WPC
2/5
Revenue growthShare count change
Side by side
Best in the row
| Latest fiscal year | AMH FY25 | WPC FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.5B | $14.4B |
| Revenue | $1.9B | $1.7B |
| Free cash flow | $824M | β |
| Net income | $513M | $466M |
| Growth | ||
| Revenue growth | 7.0% | 8.4% |
| 5-year growth | 9.6% | 7.3% |
| Share count change | 0.8% | 0.3% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 27.8% | 27.2% |
| FCF margin | 44.5% | β |
| Return on capital | β | 4.6% |
| Return on equity | 7.2% | 5.6% |
| Balance sheet | ||
| Net debt | $5.0B | $8.6B |
| Net debt / EBITDA | β | 6.5x |
| Dividends and buybacks | $446M | $790M |
| Valuation & quality | ||
| P/E | 25.3x | 21.7x |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

