Essex Property Trust vs UDR
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KIRAβs take AI analyst
I put Essex Property Trust and UDR side by side, using each oneβs latest annual report. Here is what stands out:
- Essex Property Trust is the larger business, with $1.9B of revenue in fiscal 2025 against $1.7B for UDR.
- Essex Property Trust grew revenue faster (6.4%, against 2.4%).
- Essex Property Trust kept more of each dollar of sales as operating profit (47.7% operating margin, against 32.3%).
- Investors pay more for each dollar of Essex Property Trustβs earnings: a P/E of 42.8x against 24.4x for UDR.
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Essex Property Trust
ESS
5/6
Revenue growthOperating marginNet marginReturn on equityShare count change
UDR
UDR
1/6
5-year growth
Side by side
Best in the row
| Latest fiscal year | ESS FY25 | UDR FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.7B | $11.8B |
| Revenue | $1.9B | $1.7B |
| Free cash flow | β | β |
| Net income | $703M | $378M |
| Growth | ||
| Revenue growth | 6.4% | 2.4% |
| 5-year growth | 4.8% | 6.7% |
| Share count change | 0.2% | 0.3% |
| Profitability | ||
| Gross margin | 69.9% | β |
| Operating margin | 47.7% | 32.3% |
| Net margin | 37.2% | 22.1% |
| FCF margin | β | β |
| Return on capital | β | 6.0% |
| Return on equity | 12.7% | 11.2% |
| Balance sheet | ||
| Net debt | β | $5.8B |
| Net debt / EBITDA | β | 4.7x |
| Dividends and buybacks | $654M | $686M |
| Valuation & quality | ||
| P/E | 42.8x | 24.4x |
| 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.