Equity Residential (EQR) Free Cash Flow (2009 - 2025)
Equity Residential's quarterly Free Cash Flow came in at -$192.6 million in Q4 2025, down 161.12% year-on-year from $315.1 million in Q4 2024, and down 142.39% quarter-over-quarter from $454.4 million in Q3 2025.
Equity Residential has reported Free Cash Flow for 17 years, with the latest figure at -$192.6 million in Q4 2025.
- For the quarter ending Q4 2025, Free Cash Flow fell 161.12% year-over-year to -$192.6 million; the trailing twelve-month figure through Dec 2025 stood at $987.2 million (down 31.63% YoY), and the FY2025 full-year result was $987.2 million, down 31.63% from the prior year.
- Free Cash Flow for Q4 2025 stood at -$192.6 million, down from $454.4 million in the prior quarter.
- The five-year high for Free Cash Flow was $569.0 million in Q3 2023, with the low at -$192.6 million in Q4 2025.
- Average Free Cash Flow over 5 years is $301.9 million, with a median of $334.5 million recorded in 2022.
- Year-over-year, Free Cash Flow jumped 294.12% in 2024 and tumbled 161.12% in 2025.
- Tracing EQR's Free Cash Flow over 5 years: stood at $248.4 million in 2021, then surged by 36.16% to $338.2 million in 2022, then tumbled by 76.36% to $80.0 million in 2023, then jumped by 294.12% to $315.1 million in 2024, then plunged by 161.12% to -$192.6 million in 2025.
- The last three Free Cash Flow figures came in at -$192.6 million (Q4 2025), $454.4 million (Q3 2025), and $330.8 million (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Avalonbay Communities | 25.91 Bn | 26.13 Bn | - | 359.48 Mn |
| 2 | Equity Residential | 25.13 Bn | 25.27 Bn | - | -192.61 Mn |
| 3 | Invitation Homes | 17.75 Bn | 17.79 Bn | 694.98 Mn | 236.00 Mn |
| 4 | Sun Communities | 15.66 Bn | 15.77 Bn | 491.20 Mn | 162.30 Mn |
| 5 | Mid America Apartment Communities | 15.34 Bn | 15.42 Bn | 537.05 Mn | 158.60 Mn |
| 6 | American Homes 4 Rent | 13.60 Bn | 14.17 Bn | - | 112.16 Mn |
| 7 | Udr | 12.44 Bn | 12.44 Bn | 416.43 Mn | 85.28 Mn |
| 8 | Equity Lifestyle Properties | 12.31 Bn | 12.37 Bn | 393.79 Mn | 148.95 Mn |
| 9 | Camden Property Trust | 11.27 Bn | 11.34 Bn | - | 54.08 Mn |
| 10 | Millrose Properties | 4.59 Bn | 4.59 Bn | - | 797.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -192.61 Mn |
| Dec 31, 2025 | -192.61 Mn |
| Sep 30, 2025 | 454.42 Mn |
| Sep 30, 2025 | 454.42 Mn |
| Jun 30, 2025 | 330.80 Mn |
| Jun 30, 2025 | 330.80 Mn |
| Mar 31, 2025 | 394.55 Mn |
| Mar 31, 2025 | 394.55 Mn |
| Dec 31, 2024 | 315.12 Mn |
| Dec 31, 2024 | 315.12 Mn |
| Sep 30, 2024 | 374.20 Mn |
| Sep 30, 2024 | 374.20 Mn |
| Jun 30, 2024 | 358.92 Mn |
| Jun 30, 2024 | 358.92 Mn |
| Mar 31, 2024 | 395.54 Mn |
| Mar 31, 2024 | 395.54 Mn |
| Dec 31, 2023 | 79.96 Mn |
| Dec 31, 2023 | 79.96 Mn |
| Sep 30, 2023 | 569.04 Mn |
| Sep 30, 2023 | 569.04 Mn |
| Jun 30, 2023 | 182.81 Mn |
| Jun 30, 2023 | 182.81 Mn |
| Mar 31, 2023 | 376.49 Mn |
| Mar 31, 2023 | 376.49 Mn |
| Dec 31, 2022 | 338.23 Mn |
| Dec 31, 2022 | 338.23 Mn |
| Sep 30, 2022 | 429.35 Mn |
| Sep 30, 2022 | 429.35 Mn |
| Jun 30, 2022 | 322.82 Mn |
| Jun 30, 2022 | 322.82 Mn |
| Mar 31, 2022 | 255.01 Mn |
| Mar 31, 2022 | 255.01 Mn |
| Dec 31, 2021 | 248.40 Mn |
| Dec 31, 2021 | 248.40 Mn |
| Sep 30, 2021 | 354.39 Mn |
| Sep 30, 2021 | 354.39 Mn |
| Jun 30, 2021 | 169.52 Mn |
| Jun 30, 2021 | 169.52 Mn |
| Mar 31, 2021 | 281.45 Mn |
| Mar 31, 2021 | 281.45 Mn |
| Dec 31, 2020 | 158.66 Mn |
| Dec 31, 2020 | 158.66 Mn |
| Sep 30, 2020 | 336.68 Mn |
| Sep 30, 2020 | 336.68 Mn |
| Jun 30, 2020 | 209.62 Mn |
| Jun 30, 2020 | 209.62 Mn |
| Mar 31, 2020 | 330.25 Mn |
| Mar 31, 2020 | 330.25 Mn |
| Dec 31, 2019 | -8.84 Mn |
| Dec 31, 2019 | -8.84 Mn |
| Sep 30, 2019 | -90.70 Mn |
| Sep 30, 2019 | -90.70 Mn |
| Jun 30, 2019 | -290.58 Mn |
| Jun 30, 2019 | -290.58 Mn |
| Mar 31, 2019 | 328.22 Mn |
| Mar 31, 2019 | 328.22 Mn |
| Dec 31, 2018 | -294.42 Mn |
| Dec 31, 2018 | -294.42 Mn |
| Sep 30, 2018 | 457.71 Mn |
| Sep 30, 2018 | 457.71 Mn |
| Jun 30, 2018 | 164.70 Mn |
| Jun 30, 2018 | 164.70 Mn |
| Mar 31, 2018 | 320.21 Mn |
| Mar 31, 2018 | 320.21 Mn |
| Dec 31, 2017 | -169.97 Mn |
| Dec 31, 2017 | -169.97 Mn |
| Sep 30, 2017 | 499.54 Mn |
| Sep 30, 2017 | 499.54 Mn |
| Jun 30, 2017 | 269.20 Mn |
| Jun 30, 2017 | 269.20 Mn |
| Mar 31, 2017 | 200.61 Mn |
| Mar 31, 2017 | 200.61 Mn |
| Dec 31, 2016 | 347.18 Mn |
| Dec 31, 2016 | 347.18 Mn |
| Sep 30, 2016 | 294.14 Mn |
| Sep 30, 2016 | 294.14 Mn |
| Jun 30, 2016 | 200.45 Mn |
| Jun 30, 2016 | 200.45 Mn |
| Mar 31, 2016 | 200.18 Mn |
| Mar 31, 2016 | 200.18 Mn |
| Dec 31, 2015 | 121.52 Mn |
| Dec 31, 2015 | 121.52 Mn |
| Sep 30, 2015 | 310.69 Mn |
| Sep 30, 2015 | 310.69 Mn |
| Jun 30, 2015 | 283.36 Mn |
| Jun 30, 2015 | 283.36 Mn |
| Mar 31, 2015 | 309.73 Mn |
| Mar 31, 2015 | 309.73 Mn |
| Dec 31, 2014 | 528.50 Mn |
| Dec 31, 2014 | 528.50 Mn |
| Sep 30, 2014 | 235.79 Mn |
| Sep 30, 2014 | 235.79 Mn |
| Jun 30, 2014 | 185.48 Mn |
| Jun 30, 2014 | 185.48 Mn |
| Mar 31, 2014 | 188.35 Mn |
| Mar 31, 2014 | 188.35 Mn |
| Dec 31, 2013 | 90.38 Mn |
| Dec 31, 2013 | 90.38 Mn |
| Sep 30, 2013 | 360.72 Mn |
| Sep 30, 2013 | 360.72 Mn |
| Jun 30, 2013 | 181.23 Mn |
| Jun 30, 2013 | 181.23 Mn |
| Mar 31, 2013 | 128.28 Mn |
| Mar 31, 2013 | 128.28 Mn |
| Dec 31, 2012 | 949.15 Mn |
| Dec 31, 2012 | 949.15 Mn |
| Sep 30, 2012 | 33.03 Mn |
| Sep 30, 2012 | 33.03 Mn |
| Jun 30, 2012 | -134.40 Mn |
| Jun 30, 2012 | -134.40 Mn |
| Mar 31, 2012 | 198.37 Mn |
| Mar 31, 2012 | 198.37 Mn |
| Dec 31, 2011 | 676.55 Mn |
| Dec 31, 2011 | 676.55 Mn |
| Sep 30, 2011 | -348.14 Mn |
| Sep 30, 2011 | -348.14 Mn |
| Jun 30, 2011 | 263.95 Mn |
| Jun 30, 2011 | 263.95 Mn |
| Mar 31, 2011 | 63.66 Mn |
| Mar 31, 2011 | 63.66 Mn |
| Dec 31, 2010 | 1.14 Bn |
| Dec 31, 2010 | 1.14 Bn |
| Sep 30, 2010 | -844.90 Mn |
| Sep 30, 2010 | -844.90 Mn |
| Jun 30, 2010 | 171.14 Mn |
| Jun 30, 2010 | 171.14 Mn |
| Mar 31, 2010 | 126.43 Mn |
| Mar 31, 2010 | 126.43 Mn |
| Dec 31, 2009 | 231.23 Mn |
| Dec 31, 2009 | 231.23 Mn |
| Sep 30, 2009 | 95.81 Mn |
| Sep 30, 2009 | 95.81 Mn |
| Jun 30, 2009 | 26.51 Mn |
| Jun 30, 2009 | 26.51 Mn |
| Mar 31, 2009 | 141.74 Mn |
| Mar 31, 2009 | 141.74 Mn |