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AMH-PH

American Homes 4 Rent

AMH-PH

American Homes 4 Rent • NYSE
$24.05 ▼ -1.19% (-0.29)
Market Cap $13.03 B
52w High $25.13
52w Low $22.70
Dividend Yield 1.56%
P/E 49.9
Volume 7.53K
Outstanding Shares 538.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $478.464M ▲ $147.159M ▲ $102.863M ▼ 21.499% ▼ $0.27 ▼ $291.656M ▼
Q2-2025 $457.503M ▼ $146.947M ▲ $109.039M ▼ 23.834% ▼ $0.28 ▼ $296.866M ▲
Q1-2025 $459.276M ▲ $20.771M ▼ $113.458M ▼ 24.704% ▼ $0.3 ▼ $233.733M ▲
Q4-2024 $436.593M ▼ $21.665M ▲ $126.716M ▲ 29.024% ▲ $0.33 ▲ $229.583M ▲
Q3-2024 $445.055M $20.147M $77.307M 17.37% $0.2 $218.299M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $45.631M ▼ $13.253B ▼ $5.415B ▼ $7.161B ▼
Q2-2025 $323.258M ▲ $13.592B ▲ $5.747B ▲ $7.165B ▲
Q1-2025 $69.698M ▼ $13.289B ▼ $5.447B ▼ $7.154B ▼
Q4-2024 $199.413M ▲ $13.381B ▲ $5.533B ▲ $7.16B ▲
Q3-2024 $162.477M $12.844B $5.149B $7.011B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $92.725M ▼ $223.254M ▼ $-52.226M ▲ $-461.893M ▼ $-290.865M ▼ $166.675M ▼
Q2-2025 $123.624M ▲ $271.858M ▲ $-120.716M ▼ $96.6M ▲ $247.742M ▲ $241.111M ▲
Q1-2025 $113.458M ▼ $223.403M ▲ $-107.689M ▲ $-247.072M ▼ $-131.358M ▼ $192.461M ▲
Q4-2024 $143.873M ▲ $102.187M ▼ $-532.828M ▼ $463.008M ▲ $32.367M ▲ $61.633M ▼
Q3-2024 $87.64M $233.568M $-185.132M $-612.629M $-563.797M $202.388M

Revenue by Products

Product Q2-2018Q3-2018Q1-2019Q2-2025
Reportable Segment
Reportable Segment
 $0 ▲$0 ▲$0 ▲$410.00M ▲
Other Revenue
Other Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Rental And Other Property Related Revenues
Rental And Other Property Related Revenues
 $0 ▲$0 ▲$280.00M ▲$0 ▼
Fees From SingleFamily Properties
Fees From SingleFamily Properties
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Rent From Single Family Properties
Rent From Single Family Properties
 $450.00M ▲$0 ▼$0 ▲$0 ▲
Tenant Chargebacks
Tenant Chargebacks
 $70.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have grown steadily over the past several years, with earnings rising faster than sales. That points to improving efficiency and operating discipline as the portfolio has scaled. Profitability looks solid for a real estate business, suggesting good cost control and healthy rent levels across the portfolio. As with any REIT, future results will depend on its ability to keep homes occupied at attractive rents while managing property taxes, maintenance, and interest costs. Overall, the income statement shows a maturing, increasingly profitable platform rather than a volatile, boom‑and‑bust profile.

Balance Sheet

Balance Sheet The balance sheet reflects a large and growing portfolio of rental homes backed by a substantial equity base. Assets have expanded consistently as the company adds properties and builds new communities. Debt has also risen, which is normal for a capital‑intensive REIT, but it appears balanced by rising equity and property values rather than aggressive, one‑sided leverage. Cash on hand is relatively modest, which is typical for REITs that reinvest and distribute much of their cash. The key ongoing risk is managing debt levels and refinancing needs in a changing interest‑rate environment, but the structure looks more measured than stretched.

Cash Flow

Cash Flow Cash generated from the rental business has increased year after year, which supports both reinvestment and distributions. Even after spending on new development and property improvements, the company has generally retained a solid cushion of free cash flow. Capital spending has grown, consistent with a build‑to‑rent strategy, but it has not overwhelmed the cash coming in from operations. This pattern indicates a business that is scaling in a relatively controlled way, relying on both internal cash and external capital rather than being entirely dependent on one or the other.

Competitive Edge

Competitive Edge Within single‑family rental REITs, American Homes 4 Rent holds a strong position built on scale, vertical integration, and a focus on purpose‑built rental communities. Controlling the full chain—from land acquisition and construction to leasing and maintenance—gives it more control over quality and costs than landlords who mainly buy existing homes. Its large, geographically diverse portfolio brings marketing and maintenance efficiencies that smaller operators struggle to match. However, competition from other institutional landlords is intensifying, and success will hinge on maintaining high occupancy, resident satisfaction, and disciplined growth in attractive markets.

Innovation and R&D

Innovation and R&D Although it does not do traditional lab‑style R&D, the company invests heavily in technology and process innovation. Its self‑tour system, digital leasing platform, and centralized resident portal streamline the rental experience and reduce friction for both residents and staff. Purpose‑built communities increasingly incorporate smart home features and connected infrastructure, which can enhance resident convenience and reduce operating costs through better monitoring and maintenance. Data analytics guide where and what to build, helping sharpen investment decisions. The main question going forward is how effectively the firm can keep evolving these tools to stay ahead of other large, tech‑enabled landlords.

Summary

Overall, American Homes 4 Rent presents the picture of a scaled, steadily growing single‑family rental REIT with improving profitability, a substantial asset base, and increasingly strong cash generation. Its strategy leans on building communities rather than just buying scattered homes, supported by a vertically integrated and tech‑driven operating model. The main opportunities lie in continued expansion in high‑demand markets and deeper use of data and smart‑home technology to run properties more efficiently. Key risks involve housing and rental market conditions, interest rates and refinancing needs, construction and land costs, and rising competition from other institutional owners. The business today looks more like a disciplined, platform‑driven operator than a purely opportunistic real estate buyer, which shapes both its strengths and its exposures.