Stock AVB AVALONBAY COMMUNITIES, INC.
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Financials AvalonBay Communities, Inc.

Equities

AVB

US0534841012

Residential REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
191.4 USD +0.07% Intraday chart for AvalonBay Communities, Inc. +3.98% +2.26%
Apr. 26 AvalonBay Communities, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 26 Avalonbay Communities, Inc. Provides Earnings Guidance for the Second Quarter and Full Year of 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 29,222 22,352 35,239 22,566 26,555 27,188 - -
Enterprise Value (EV) 1 36,390 29,603 42,798 30,148 34,043 35,260 35,458 35,609
P/E ratio 37.2 x 27.2 x 35.1 x 19.9 x 28.5 x 37.9 x 35.2 x 31.5 x
Yield 2.9% 3.96% 2.52% 3.94% 3.53% 3.55% 3.7% 3.83%
Capitalization / Revenue 12.6 x 9.73 x 15.4 x 8.72 x 9.62 x 9.39 x 9.07 x 8.6 x
EV / Revenue 15.7 x 12.9 x 18.7 x 11.7 x 12.3 x 12.2 x 11.8 x 11.3 x
EV / EBITDA 24 x 20.5 x 30.9 x 18.7 x 19.3 x 19.5 x 18.8 x 17.7 x
EV / FCF 282 x 124 x 108 x 23 x 23.7 x 117 x 30 x 46.2 x
FCF Yield 0.35% 0.81% 0.92% 4.34% 4.22% 0.86% 3.33% 2.16%
Price to Book 2.68 x 2.08 x 3.23 x 2.01 x 2.26 x 2.38 x 2.48 x 2.5 x
Nbr of stocks (in thousands) 139,349 139,324 139,510 139,711 141,840 142,010 - -
Reference price 2 209.7 160.4 252.6 161.5 187.2 191.4 191.4 191.4
Announcement Date 2/5/20 2/3/21 2/2/22 2/8/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,320 2,297 2,292 2,587 2,760 2,896 2,998 3,161
EBITDA 1 1,516 1,443 1,387 1,615 1,761 1,805 1,888 2,013
EBIT 1 854.2 735.3 628.6 800.1 943.8 1,040 1,020 1,114
Operating Margin 36.82% 32% 27.43% 30.93% 34.19% 35.91% 34.03% 35.23%
Earnings before Tax (EBT) 1 799.1 824.5 1,010 - 938.6 683.5 748.4 824.7
Net income 1 786 827.6 1,004 1,137 928.8 745.2 765.4 877.5
Net margin 33.88% 36.02% 43.82% 43.94% 33.65% 25.73% 25.53% 27.76%
EPS 2 5.630 5.890 7.190 8.120 6.560 5.050 5.445 6.085
Free Cash Flow 1 128.9 238.7 395.1 1,310 1,435 302.4 1,182 770.5
FCF margin 5.56% 10.39% 17.24% 50.63% 52% 10.44% 39.43% 24.38%
FCF Conversion (EBITDA) 8.5% 16.54% 28.48% 81.1% 81.52% 16.75% 62.61% 38.29%
FCF Conversion (Net income) 16.4% 28.84% 39.34% 115.22% 154.53% 40.58% 154.44% 87.82%
Dividend per Share 2 6.080 6.360 6.360 6.360 6.600 6.789 7.081 7.325
Announcement Date 2/5/20 2/3/21 2/2/22 2/8/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 580.1 600.5 613.2 643.7 663.9 666.4 673.6 688.1 695.7 702.7 706.1 720.5 730.5 736 741.3
EBITDA 1 345.8 376.5 377.3 400.1 411.5 426.1 425.6 441.9 440.5 452.7 448.1 446.8 452.2 466.6 459.6
EBIT 1 152.1 179.5 175.6 200.8 204.8 218.9 220.8 241.4 239.5 242 235.8 231.8 233.3 247.4 235.1
Operating Margin 26.21% 29.89% 28.63% 31.19% 30.86% 32.85% 32.78% 35.08% 34.43% 34.44% 31.35% 32.17% 31.94% 33.61% 31.71%
Earnings before Tax (EBT) 1 81.03 339.6 - - - - - - 176.2 244.5 165.6 169.8 167.5 180.5 177.4
Net income 1 78.91 335.2 262 138.7 494.7 241.3 146.9 367.9 172 242 173.4 170.5 173 184.9 178.4
Net margin 13.6% 55.82% 42.74% 21.55% 74.52% 36.21% 21.81% 53.47% 24.73% 34.43% 23.42% 23.66% 23.68% 25.12% 24.06%
EPS 2 0.5600 2.400 1.870 0.9900 3.530 1.720 1.050 2.590 1.210 1.700 1.220 1.225 1.221 1.285 1.312
Dividend per Share 2 1.590 1.590 1.590 1.590 1.590 1.590 1.650 1.650 1.650 1.650 1.698 1.700 1.700 1.700 1.769
Announcement Date 10/27/21 2/2/22 4/27/22 7/27/22 11/3/22 2/8/23 4/26/23 7/31/23 10/25/23 1/31/24 4/25/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,169 7,251 7,560 7,582 7,488 8,072 8,270 8,421
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.729 x 5.026 x 5.45 x 4.694 x 4.253 x 4.471 x 4.38 x 4.184 x
Free Cash Flow 1 129 239 395 1,310 1,435 302 1,182 771
ROE (net income / shareholders' equity) 7.27% 7.61% 9.26% 10.2% 8.06% 6.31% 7.15% 8.22%
ROA (Net income/ Total Assets) 4.19% 4.32% 5.14% 5.63% 4.52% 3.88% 4.17% 4.52%
Assets 1 18,751 19,160 19,551 20,180 20,568 19,229 18,368 19,420
Book Value Per Share 2 78.10 77.10 78.20 80.40 83.00 80.30 77.30 76.60
Cash Flow per Share 2 9.470 8.680 8.610 10.20 11.00 11.30 11.50 12.30
Capex 1 1,193 981 808 1,096 1,099 1,250 904 879
Capex / Sales 51.43% 42.7% 35.26% 42.36% 39.82% 43.17% 30.14% 27.81%
Announcement Date 2/5/20 2/3/21 2/2/22 2/8/23 1/31/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for AvalonBay Communities, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
191.4 USD
Average target price
198.7 USD
Spread / Average Target
+3.77%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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AVALONBAY COMMUNITIES, INC. Stock AvalonBay Communities, Inc.
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Residential REITs
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