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AVALONBAY COMMUNITIES INC AVB

NYSE · reit · Real Estate Investment Trusts · website · IPO 1994-03-11 · LEI

AVALONBAY COMMUNITIES INC statistics & valuation

Market cap$27.3B
P / S9.0×
P / B2.3×
Net debt$9.1B
Net debt / EBITDA3.1×
Enterprise value USD$36.5B
EV / EBITDA12.4×
Earnings yield EBIT/EV5.5%
Graham number -36.1%$117.46

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($117.46); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
64.20% 64.80% 65.00% 66.80% 64.00% 63.50% 65.60% 64.70% 65.60% 66.50% 2016201720182019202020212022202320242025
Return on equity (%)
10.20% 8.40% 9.20% 7.90% 9.10% 2016201720182019202020212022202320242025
Shares outstanding
137.5M 138.1M 139.7M 140.6M 140.4M 139.8M 140.0M 142.0M 142.5M 142.8M 2016201720182019202020212022202320242025
Net debt ($)
$6.86B $7.34B $7.01B $7.32B $7.41B $7.68B $7.70B $7.58B $7.97B $9.14B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.80% 4.80% 5.30% 4.50% 5.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.70× 0.71× 0.67× 0.67× 0.71× 0.74× 0.74× 0.68× 0.68× 0.79× 2016201720182019202020212022202320242025
EPS ($)
$7.52 $6.35 $7.05 $5.63 $5.89 $7.19 $8.12 $6.56 $7.60 $7.40 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AVALONBAY COMMUNITIES INC trades at about 24.9× earnings — near its 10-year norm (10-year range 21.9×–38.5×, median 27.4×).

21.9× 38.5×

Shaded band = 10-year range (21.9×–38.5×); dot = today's 24.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin66.5%65.6%64.7%65.6%63.5%64.0%66.8%65.0%64.8%64.2%
Net margin—37.1%33.6%————42.7%40.6%50.6%
Return on assets—5.2%4.5%————5.3%4.8%5.8%
Return on equity—9.1%7.9%————9.2%8.4%10.2%
Debt / equity0.79×0.68×0.68×0.74×0.74×0.71×0.67×0.67×0.71×0.70×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.