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Equity Residential (EQR)
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Equity Residential Balance Sheet 2025-2006 | EQR
Brief overview of Equity Residential's balance sheet strength
This overview follows the five latest available annual observations between 2021 and 2025.
The asset base was stable: the change from $21.2 billion to $20.7 billion does not indicate a material increase in scale.
Liabilities followed the scale of the balance sheet: -1.5% versus -2% for assets. Leverage did not change materially.
Equity funds 53.2% of assets versus 51.7% initially. This creates a conservative balance sheet structure.
Net debt to equity stands at 0.74x; debt servicing is an important part of overall resilience.
Cash represents 0.3% of assets versus 0.6% initially, showing how the immediate liquidity reserve changed.
Retained earnings reached $1.2 billion, changing -34.7% over the period. A positive accumulated result supports equity.
What the balance sheet shows
Equity Residential's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Equity Residential
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
8.19 B | 8.13 B | 7.41 B | 7.44 B | - | 7.59 B | 7.97 B | 8.77 B | 8.91 B | 8.91 B | 10.9 B | 10.8 B | 10.7 B | 7.92 B | 9.34 B | - | - | - | - | - |
Long Term Debt |
8.24 B | 8.19 B | 7.46 B | 7.49 B | - | 7.63 B | 8.02 B | 8.32 B | 8.66 B | 8.97 B | 10.6 B | 10.5 B | 10.7 B | 8.53 B | 9.72 B | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | 9.12 B | 9.43 B | 9.82 B | 11.6 B | 11.5 B | 11.4 B | 9.3 B | 10.1 B | - | - | - | - | - |
Total Liabilities |
9.34 B | 9.25 B | 8.46 B | 8.52 B | 9.48 B | 9.52 B | 10.6 B | 9.99 B | 10.1 B | 10.2 B | 12.5 B | 12.2 B | 12 B | 9.67 B | 10.4 B | 10.6 B | 9.98 B | 11.2 B | - | - |
Retained Earnings |
1.19 B | 1.41 B | 1.44 B | 1.66 B | 1.83 B | 1.4 B | 1.39 B | 1.26 B | 1.4 B | 1.54 B | 2.01 B | 1.95 B | 2.05 B | 887 M | 616 M | 204 M | 354 M | 456 M | - | - |
Total Assets |
20.7 B | 20.8 B | 20 B | 20.2 B | 21.2 B | 20.3 B | 21.2 B | 20.4 B | 20.6 B | 20.7 B | 23.2 B | 23 B | 22.8 B | 17.2 B | 16.7 B | 16.2 B | 15.4 B | 16.5 B | - | - |
Cash and Cash Equivalents |
55.9 M | 62.3 M | 50.7 M | 53.9 M | 124 M | 42.6 M | 45.8 M | 47.4 M | 50.6 M | 77.2 M | 42.3 M | 40.1 M | 53.5 M | 613 M | 384 M | 431 M | 193 M | 891 M | 50.8 M | 260 M |
Book Value |
11.4 B | 11.6 B | 11.6 B | 11.7 B | 11.7 B | 10.8 B | 10.5 B | 10.4 B | 10.5 B | 10.5 B | 10.7 B | 10.7 B | 10.8 B | 7.53 B | 6.28 B | 5.59 B | 5.43 B | 5.33 B | - | - |
Total Shareholders Equity |
11 B | 11 B | 11.1 B | 11.2 B | 11 B | 10.5 B | 10.3 B | 10.2 B | 10.2 B | 10.2 B | 10.5 B | 10.4 B | 10.5 B | 7.29 B | 5.67 B | 5.09 B | 5.05 B | 4.91 B | - | - |
All numbers in USD currency
Quarterly Balance Sheet Equity Residential
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8.42 B | - | - | - | 8.13 B | - | - | - | 9.13 B | - | - | - | 8.91 B | - | - | - | 9.07 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.8 B | - | 5.4 B | 5.39 B | - | - | 4.6 M | - | - | - | - | - | - | - |
Total Liabilities |
9.39 B | 9.5 B | 9.34 B | 9.6 B | 9.5 B | 8.97 B | 9.25 B | 9.52 B | 8.27 B | 8.32 B | 8.46 B | 8.57 B | 8.56 B | 8.43 B | 8.52 B | 8.63 B | - | 9.3 B | 9.48 B | 9.33 B | 9.38 B | 9.21 B | 9.18 B | 9.18 B | 9.18 B | 9.18 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 9.62 B | 9.62 B | 9.62 B | 9.62 B | 9.73 B | 9.73 B | 9.73 B | 9.73 B | 9.8 B | 9.8 B | 9.8 B | 9.8 B | 11.8 B | 11.8 B | 11.8 B | 11.8 B | 11.7 B | 11.7 B | 11.9 B | 11.8 B | 11.6 B | 11.6 B | 11.6 B | 11.6 B | 9.28 B | 9.28 B | 9.28 B | 9.28 B | 10.4 B | 10.4 B | 10.4 B | 10.4 B | 10.9 B | 10.3 B | 10.1 B | 10.5 B | 10.7 B |
Retained Earnings |
651 M | 801 M | 1.19 B | 1.26 B | 1.33 B | 1.4 B | 1.41 B | 1.24 B | 1.36 B | 1.44 B | 1.44 B | 1.43 B | 1.51 B | 1.62 B | 1.66 B | 1.74 B | - | 1.66 B | 1.83 B | 1.53 B | 1.32 B | 1.23 B | 1.4 B | 1.4 B | 1.4 B | 1.4 B | 1.39 B | 1.39 B | 1.39 B | 1.39 B | 1.26 B | 1.26 B | 1.26 B | 1.26 B | 1.4 B | 1.4 B | 1.4 B | 1.4 B | 1.54 B | 1.54 B | 1.54 B | 1.54 B | 2.01 B | 2.01 B | 2.01 B | 2.01 B | 1.95 B | 1.95 B | 1.88 B | 1.94 B | 2.05 B | 2.05 B | 2.05 B | 2.05 B | 887 M | 887 M | 887 M | 887 M | 616 M | 616 M | 616 M | 616 M | 150 M | 221 M | 310 M | 405 M | 366 M |
Total Assets |
20.3 B | 20.5 B | 20.7 B | 21.1 B | 21 B | 20.6 B | 20.8 B | 20.9 B | 19.8 B | 19.9 B | 20 B | 20.1 B | 20.1 B | 20.1 B | 20.2 B | 20.3 B | - | 20.8 B | 21.2 B | 20.7 B | 20.5 B | 20.2 B | 20.3 B | 20.3 B | 20.3 B | 20.3 B | 21.2 B | 21.2 B | 21.2 B | 21.2 B | 20.4 B | 20.4 B | 20.4 B | 20.4 B | 20.6 B | 20.6 B | 20.6 B | 20.6 B | 20.7 B | 20.7 B | 20.7 B | 20.7 B | 23.1 B | 23.1 B | 23.1 B | 23.1 B | 23 B | 23 B | 23 B | 22.9 B | 22.8 B | 22.8 B | 22.8 B | 22.8 B | 17.2 B | 17.2 B | 17.2 B | 17.2 B | 16.7 B | 16.7 B | 16.7 B | 16.7 B | 16.1 B | 15.6 B | 15.5 B | 15.8 B | 15.9 B |
Cash and Cash Equivalents |
36.4 M | 34.7 M | 55.9 M | 93.1 M | 31.3 M | 39.8 M | 62.3 M | 28.6 M | 38.3 M | 44.5 M | 50.7 M | 39.2 M | 35.7 M | 133 M | 53.9 M | 44.8 M | 45 M | 41.1 M | 124 M | 39.7 M | 39.5 M | 35.5 M | 42.6 M | 42.6 M | 42.6 M | 42.6 M | 45.8 M | 45.8 M | 45.8 M | 45.8 M | 47.4 M | 47.4 M | 47.4 M | 47.4 M | 50.6 M | 50.6 M | 50.6 M | 50.6 M | 77.2 M | 77.2 M | 77.2 M | 77.2 M | 42.3 M | 42.3 M | 42.3 M | 42.3 M | 40.1 M | 40.1 M | 76.1 M | 37.2 M | 53.5 M | 53.5 M | 53.5 M | 53.5 M | 613 M | 613 M | 613 M | 613 M | 384 M | 384 M | 384 M | 384 M | 43.7 M | 48 M | 60.2 M | 638 M | 667 M |
Book Value |
10.9 B | 11 B | 11.4 B | 11.5 B | 11.5 B | 11.6 B | 11.6 B | 11.4 B | 11.5 B | 11.6 B | 11.6 B | 11.5 B | 11.6 B | 11.7 B | 11.7 B | 11.6 B | - | 11.5 B | 11.7 B | 11.3 B | 11.1 B | 11 B | 11.1 B | 11.1 B | 11.1 B | 11.1 B | 11 B | 11 B | 11 B | 11 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 10.9 B | 10.9 B | 10.9 B | 10.9 B | 11.3 B | 11.3 B | 11.3 B | 11.3 B | 11.2 B | 11.2 B | 11.1 B | 11.1 B | 11.2 B | 11.2 B | 11.2 B | 11.2 B | 7.93 B | 7.93 B | 7.93 B | 7.93 B | 6.28 B | 6.28 B | 6.28 B | 6.28 B | 5.22 B | 5.31 B | 5.44 B | 5.33 B | 5.26 B |
Total Shareholders Equity |
10.5 B | 10.7 B | 11 B | 11.1 B | 11 B | 11 B | 11 B | 10.9 B | 11 B | 11.1 B | 11.1 B | 11.1 B | 11 B | 11.1 B | 11.2 B | 11 B | - | 10.8 B | 11 B | 10.7 B | 10.4 B | 10.3 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.3 B | 10.3 B | 10.3 B | 10.3 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.2 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.4 B | 10.4 B | 10.3 B | 10.4 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 7.29 B | 7.29 B | 7.29 B | 7.29 B | 5.67 B | 5.67 B | 5.67 B | 5.67 B | 4.75 B | 4.88 B | 5.02 B | 4.96 B | 4.93 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Equity Residential, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit residential
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|---|---|---|---|---|---|
|
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|
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|
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|
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|
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|
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|
BRT Apartments Corp.
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|
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|
Sun Communities
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|
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|
UDR
UDR
|
$ 33.79 | 0.68 % | $ 11.2 B | ||
|
UMH Properties
UMH
|
$ 15.4 | 0.19 % | $ 1.29 B | ||
|
American Campus Communities
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|
- | 0.01 % | $ 9.11 B | ||
|
Preferred Apartment Communities
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|
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|
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AMH
|
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|
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|
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|
Invitation Homes
INVH
|
$ 26.93 | 0.07 % | $ 16.5 B | ||
|
Bluerock Residential Growth REIT
BRG
|
- | -0.49 % | $ 813 M |