KPIs & Operating Metrics(New)
Growth Metrics

American Homes 4 Rent (AMH) Cost of Revenue (2015 - 2025)

American Homes 4 Rent's quarterly Cost of Revenue came in at -$389.9 million in Q4 2025, down 348.92% year-on-year from $156.6 million in Q4 2024, and down 681.65% quarter-over-quarter from $67.0 million in Q3 2025.

American Homes 4 Rent has reported Cost of Revenue for 11 years, with the latest figure at -$389.9 million in Q4 2025.

  • For the quarter ending Q4 2025, Cost of Revenue fell 348.92% year-over-year to -$389.9 million; the trailing twelve-month figure through Dec 2025 stood at -$203.0 million (down 147.7% YoY), and the FY2025 full-year result was $119.3 million, down 52.74% from the prior year.
  • Cost of Revenue for Q4 2025 stood at -$389.9 million, down from $67.0 million in the prior quarter.
  • The five-year high for Cost of Revenue was $172.0 million in Q3 2024, with the low at -$389.9 million in Q4 2025.
  • Average Cost of Revenue over 5 years is $46.4 million, with a median of $65.8 million recorded in 2024.
  • Year-over-year, Cost of Revenue surged 464.91% in 2023 and sank 348.92% in 2025.
  • Tracing AMH's Cost of Revenue over 5 years: stood at -$273.1 million in 2021, then jumped by 110.31% to $28.2 million in 2022, then surged by 422.69% to $147.2 million in 2023, then increased by 6.44% to $156.6 million in 2024, then slumped by 348.92% to -$389.9 million in 2025.
  • The last three Cost of Revenue figures came in at -$389.9 million (Q4 2025), $67.0 million (Q3 2025), and $31.0 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Avalonbay Communities 25.91 Bn 26.13 Bn - -
2 Equity Residential 25.13 Bn 25.27 Bn - -
3 Invitation Homes 17.75 Bn 17.79 Bn 694.98 Mn 39.13 Mn
4 Sun Communities 15.66 Bn 15.77 Bn 491.20 Mn 16.70 Mn
5 Mid America Apartment Communities 15.34 Bn 15.42 Bn 537.05 Mn 18.51 Mn
6 American Homes 4 Rent 13.60 Bn 14.17 Bn - -389.92 Mn
7 Udr 12.44 Bn 12.44 Bn 416.43 Mn 9.42 Mn
8 Equity Lifestyle Properties 12.31 Bn 12.37 Bn 393.79 Mn 3.84 Mn
9 Camden Property Trust 11.27 Bn 11.34 Bn - -
10 Millrose Properties 4.59 Bn 4.59 Bn - -

Historic Data

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DateValue
Dec 31, 2025 -389.92 Mn
Dec 31, 2025 -389.92 Mn
Sep 30, 2025 67.04 Mn
Sep 30, 2025 67.04 Mn
Jun 30, 2025 31.02 Mn
Jun 30, 2025 31.02 Mn
Mar 31, 2025 88.85 Mn
Mar 31, 2025 88.85 Mn
Dec 31, 2024 156.65 Mn
Dec 31, 2024 156.65 Mn
Sep 30, 2024 172.03 Mn
Sep 30, 2024 172.03 Mn
Jun 30, 2024 32.38 Mn
Jun 30, 2024 32.38 Mn
Mar 31, 2024 64.59 Mn
Mar 31, 2024 64.59 Mn
Dec 31, 2023 147.17 Mn
Dec 31, 2023 147.17 Mn
Sep 30, 2023 30.79 Mn
Sep 30, 2023 30.79 Mn
Jun 30, 2023 142.55 Mn
Jun 30, 2023 142.55 Mn
Mar 31, 2023 147.07 Mn
Mar 31, 2023 147.07 Mn
Dec 31, 2022 28.16 Mn
Dec 31, 2022 28.16 Mn
Sep 30, 2022 152.07 Mn
Sep 30, 2022 152.07 Mn
Jun 30, 2022 28.77 Mn
Jun 30, 2022 28.77 Mn
Mar 31, 2022 26.03 Mn
Mar 31, 2022 26.03 Mn
Dec 31, 2021 -273.10 Mn
Dec 31, 2021 -273.10 Mn
Sep 30, 2021 134.69 Mn
Sep 30, 2021 134.69 Mn
Jun 30, 2021 116.58 Mn
Jun 30, 2021 116.58 Mn
Mar 31, 2021 23.70 Mn
Mar 31, 2021 23.70 Mn
Dec 31, 2020 382.76 Mn
Dec 31, 2020 382.76 Mn
Sep 30, 2020 126.17 Mn
Sep 30, 2020 126.17 Mn
Jun 30, 2020 110.44 Mn
Jun 30, 2020 110.44 Mn
Mar 31, 2020 23.28 Mn
Mar 31, 2020 23.28 Mn
Dec 31, 2019 -244.16 Mn
Dec 31, 2019 -244.16 Mn
Sep 30, 2019 22.73 Mn
Sep 30, 2019 22.73 Mn
Jun 30, 2019 104.59 Mn
Jun 30, 2019 104.59 Mn
Mar 31, 2019 20.71 Mn
Mar 31, 2019 20.71 Mn
Dec 31, 2018 356.44 Mn
Dec 31, 2018 356.44 Mn
Sep 30, 2018 113.60 Mn
Sep 30, 2018 113.60 Mn
Jun 30, 2018 98.84 Mn
Jun 30, 2018 98.84 Mn
Mar 31, 2018 18.99 Mn
Mar 31, 2018 18.99 Mn
Dec 31, 2017 69.71 Mn
Dec 31, 2017 69.71 Mn
Sep 30, 2017 17.44 Mn
Sep 30, 2017 17.44 Mn
Dec 31, 2016 310.83 Mn
Dec 31, 2016 310.83 Mn
Sep 30, 2016 3.14 Mn
Sep 30, 2016 3.14 Mn
Jun 30, 2016 2.09 Mn
Jun 30, 2016 2.09 Mn
Mar 31, 2016 1.25 Mn
Mar 31, 2016 1.25 Mn
Sep 30, 2015 1.15 Mn
Sep 30, 2015 1.15 Mn
Jun 30, 2015 840,000.00
Jun 30, 2015 840,000.00
Mar 31, 2015 694,000.00
Mar 31, 2015 694,000.00