KPIs & Operating Metrics(New)
Growth Metrics

Equity Residential (EQR) Operating Leases (2019 - 2025)

Equity Residential's quarterly Operating Leases came in at $238.6 million in Q4 2025, little changed year-on-year from $237.8 million in Q4 2024, and down 21.74% quarter-over-quarter from $304.8 million in Q3 2025.

Equity Residential has reported Operating Leases for 7 years, with the latest figure at $238.6 million in Q4 2025.

  • For the quarter ending Q4 2025, Operating Leases changed 0.33% year-over-year to $238.6 million; the trailing twelve-month figure through Dec 2025 stood at $238.6 million (changed 0.33% YoY), and the FY2025 full-year result was $238.6 million, changed 0.33% from the prior year.
  • Operating Leases for Q4 2025 stood at $238.6 million, down from $304.8 million in the prior quarter.
  • The five-year high for Operating Leases was $316.8 million in Q1 2021, with the low at $237.8 million in Q4 2024.
  • Average Operating Leases over 5 years is $303.2 million, with a median of $310.5 million recorded in 2022.
  • Year-over-year, Operating Leases gained 1.14% in 2023 and declined 23.7% in 2024.
  • Tracing EQR's Operating Leases over 5 years: stood at $312.3 million in 2021, then dropped by 1.15% to $308.7 million in 2022, then gained by 0.94% to $311.6 million in 2023, then retreated by 23.7% to $237.8 million in 2024, then rose by 0.33% to $238.6 million in 2025.
  • The last three Operating Leases figures came in at $238.6 million (Q4 2025), $304.8 million (Q3 2025), and $302.8 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (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
4 Sun Communities 15.66 Bn 15.77 Bn 491.20 Mn
5 Mid America Apartment Communities 15.34 Bn 15.42 Bn 537.05 Mn
6 American Homes 4 Rent 13.60 Bn 14.17 Bn -
7 Udr 12.44 Bn 12.44 Bn 416.43 Mn
8 Equity Lifestyle Properties 12.31 Bn 12.37 Bn 393.79 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 238.56 Mn
Sep 30, 2025 304.81 Mn
Jun 30, 2025 302.85 Mn
Mar 31, 2025 304.15 Mn
Dec 31, 2024 237.77 Mn
Sep 30, 2024 306.12 Mn
Jun 30, 2024 309.18 Mn
Mar 31, 2024 310.42 Mn
Dec 31, 2023 311.64 Mn
Sep 30, 2023 312.78 Mn
Jun 30, 2023 313.87 Mn
Mar 31, 2023 314.85 Mn
Dec 31, 2022 308.75 Mn
Sep 30, 2022 309.55 Mn
Jun 30, 2022 310.51 Mn
Mar 31, 2022 311.29 Mn
Dec 31, 2021 312.34 Mn
Sep 30, 2021 313.36 Mn
Jun 30, 2021 314.38 Mn
Mar 31, 2021 316.84 Mn
Dec 31, 2020 329.13 Mn
Sep 30, 2020 329.68 Mn
Jun 30, 2020 330.14 Mn
Mar 31, 2020 330.71 Mn
Dec 31, 2019 331.33 Mn
Sep 30, 2019 333.31 Mn
Jun 30, 2019 281.62 Mn
Mar 31, 2019 282.24 Mn