AMH American Homes 4 Rent

Overview and Growth

American Homes 4 Rent recorded fiscal 2025 net income of $439.03M. The company reported diluted EPS of $1.18, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $1.08 in fiscal 2024, the current result was 9.3% higher. Diluted shares averaged 370.91M; this is the reported share base over which the company’s diluted per-share earnings were spread. Diluted shares moved 0.8% from 367.99M in fiscal 2024, leaving the current share base higher year over year. Total assets stood at $13.24B, showing the scale of resources supporting revenue, earnings, liquidity, and financing.

Profitability

Net income came to $439.03M, completing the progression from revenue through gross and operating profitability to the final reported result. Return on period-end equity was 5.7%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 3.3%, connecting net income with the company’s total asset base. Against $398.48M in fiscal 2024, the current $439.03M bottom line finished above the prior-year result in absolute terms.

Liquidity and Capital Structure

Total assets were $13.24B, supported by $5.53B of liabilities and $7.71B of shareholder equity. The company held $108.52M in cash and equivalents, a narrower liquidity measure than total current assets. Borrowings totaled $5.10B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.66x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 38.5%, showing how much of the asset base was matched by borrowing. Equity equaled 58.2% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 41.8% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 0.8% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 1.0% from $13.38B in fiscal 2024, leaving current total assets lower year over year. Reported equity changed 1.8% from $7.85B in fiscal 2024, placing the current capital base lower year over year. Cash and equivalents were 45.6% lower than fiscal 2024 cash of $199.41M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $864.33M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 1.97x, comparing cash generated by operations with the bottom-line earnings result. Operating cash flow of $864.33M finished above fiscal 2024 operating cash flow of $811.53M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.