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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) and AvalonBay Communities (AVB). Click either name above to swap in a different company.
Armada Hoffler Properties, Inc. is the larger business by last-quarter revenue ($75.6M vs $1.8M, roughly 41.2× AvalonBay Communities). AvalonBay Communities runs the higher net margin — 9040.6% vs 3.1%, a 9037.4% gap on every dollar of revenue. On growth, AvalonBay Communities posted the faster year-over-year revenue change (5.5% vs 0.8%). Over the past eight quarters, AvalonBay Communities's revenue compounded faster (1.1% CAGR vs -22.8%).
Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
AHH vs AVB — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $75.6M | $1.8M |
| Net Profit | $2.4M | $166.0M |
| Gross Margin | — | — |
| Operating Margin | 31.0% | — |
| Net Margin | 3.1% | 9040.6% |
| Revenue YoY | 0.8% | 5.5% |
| Net Profit YoY | -89.8% | -41.2% |
| EPS (diluted) | $0.00 | $1.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.6M | $1.8M | ||
| Q3 25 | $23.2M | $1.9M | ||
| Q2 25 | $32.0M | $1.6M | ||
| Q1 25 | $46.6M | $1.7M | ||
| Q4 24 | $75.0M | $1.7M | ||
| Q3 24 | $114.4M | $1.7M | ||
| Q2 24 | $116.8M | $1.8M | ||
| Q1 24 | $127.0M | $1.8M |
| Q4 25 | $2.4M | $166.0M | ||
| Q3 25 | $80.0K | $381.3M | ||
| Q2 25 | $5.9M | $268.7M | ||
| Q1 25 | $-2.8M | $236.6M | ||
| Q4 24 | $23.4M | $282.1M | ||
| Q3 24 | $-5.0M | $372.5M | ||
| Q2 24 | $3.2M | $253.9M | ||
| Q1 24 | $14.1M | $173.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 41.8% | — | ||
| Q1 24 | 37.9% | — |
| Q4 25 | 31.0% | — | ||
| Q3 25 | 91.5% | — | ||
| Q2 25 | 63.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | 50.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 15.1% | — |
| Q4 25 | 3.1% | 9040.6% | ||
| Q3 25 | 0.3% | 20390.7% | ||
| Q2 25 | 18.6% | 16854.8% | ||
| Q1 25 | -6.0% | 13581.9% | ||
| Q4 24 | 31.2% | 16212.2% | ||
| Q3 24 | -4.4% | 21708.6% | ||
| Q2 24 | 2.7% | 13876.2% | ||
| Q1 24 | 11.1% | 9662.9% |
| Q4 25 | $0.00 | $1.18 | ||
| Q3 25 | $-0.04 | $2.68 | ||
| Q2 25 | $0.04 | $1.88 | ||
| Q1 25 | $-0.07 | $1.66 | ||
| Q4 24 | $0.28 | $1.99 | ||
| Q3 24 | $-0.11 | $2.61 | ||
| Q2 24 | $0.00 | $1.78 | ||
| Q1 24 | $0.17 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.1M | $187.2M |
| Total DebtLower is stronger | $1.5B | $9.3B |
| Stockholders' EquityBook value | $627.8M | $11.6B |
| Total Assets | $2.6B | $22.2B |
| Debt / EquityLower = less leverage | 2.43× | 0.80× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | $187.2M | ||
| Q3 25 | $46.5M | $123.3M | ||
| Q2 25 | $52.1M | $102.8M | ||
| Q1 25 | $45.7M | $53.3M | ||
| Q4 24 | $31.9M | $108.6M | ||
| Q3 24 | $43.9M | $552.4M | ||
| Q2 24 | $20.3M | $545.8M | ||
| Q1 24 | $41.9M | $287.9M |
| Q4 25 | $1.5B | $9.3B | ||
| Q3 25 | $1.5B | $8.7B | ||
| Q2 25 | $1.4B | $8.7B | ||
| Q1 25 | $1.3B | $8.3B | ||
| Q4 24 | $1.3B | $8.1B | ||
| Q3 24 | $1.3B | $8.4B | ||
| Q2 24 | $1.4B | $8.4B | ||
| Q1 24 | $1.4B | $8.0B |
| Q4 25 | $627.8M | $11.6B | ||
| Q3 25 | $638.8M | $11.9B | ||
| Q2 25 | $652.0M | $11.9B | ||
| Q1 25 | $657.4M | $11.9B | ||
| Q4 24 | $670.6M | $11.9B | ||
| Q3 24 | $663.9M | $11.9B | ||
| Q2 24 | $562.7M | $11.7B | ||
| Q1 24 | $571.4M | $11.7B |
| Q4 25 | $2.6B | $22.2B | ||
| Q3 25 | $2.6B | $21.9B | ||
| Q2 25 | $2.6B | $21.8B | ||
| Q1 25 | $2.5B | $21.2B | ||
| Q4 24 | $2.5B | $21.0B | ||
| Q3 24 | $2.6B | $21.3B | ||
| Q2 24 | $2.6B | $21.0B | ||
| Q1 24 | $2.6B | $20.6B |
| Q4 25 | 2.43× | 0.80× | ||
| Q3 25 | 2.33× | 0.73× | ||
| Q2 25 | 2.22× | 0.72× | ||
| Q1 25 | 2.01× | 0.70× | ||
| Q4 24 | 1.93× | 0.68× | ||
| Q3 24 | 2.00× | 0.70× | ||
| Q2 24 | 2.52× | 0.71× | ||
| Q1 24 | 2.50× | 0.68× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $400.4M |
| Free Cash FlowOCF − Capex | — | $322.5M |
| FCF MarginFCF / Revenue | — | 17563.8% |
| Capex IntensityCapex / Revenue | — | 4246.2% |
| Cash ConversionOCF / Net Profit | — | 2.41× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $400.4M | ||
| Q3 25 | $26.3M | $477.0M | ||
| Q2 25 | $11.1M | $377.8M | ||
| Q1 25 | $107.0K | $415.9M | ||
| Q4 24 | $20.8M | $328.8M | ||
| Q3 24 | $27.3M | $486.2M | ||
| Q2 24 | $17.4M | $380.0M | ||
| Q1 24 | $46.5M | $412.9M |
| Q4 25 | — | $322.5M | ||
| Q3 25 | — | $402.2M | ||
| Q2 25 | — | $317.1M | ||
| Q1 25 | — | $367.5M | ||
| Q4 24 | — | $271.9M | ||
| Q3 24 | — | $434.2M | ||
| Q2 24 | — | $333.0M | ||
| Q1 24 | — | $375.4M |
| Q4 25 | — | 17563.8% | ||
| Q3 25 | — | 21507.4% | ||
| Q2 25 | — | 19896.0% | ||
| Q1 25 | — | 21098.3% | ||
| Q4 24 | — | 15626.2% | ||
| Q3 24 | — | 25305.2% | ||
| Q2 24 | — | 18195.7% | ||
| Q1 24 | — | 20914.5% |
| Q4 25 | — | 4246.2% | ||
| Q3 25 | — | 3998.4% | ||
| Q2 25 | — | 3806.1% | ||
| Q1 25 | — | 2776.7% | ||
| Q4 24 | — | 3271.1% | ||
| Q3 24 | — | 3026.3% | ||
| Q2 24 | — | 2568.9% | ||
| Q1 24 | — | 2088.6% |
| Q4 25 | — | 2.41× | ||
| Q3 25 | 328.63× | 1.25× | ||
| Q2 25 | 1.87× | 1.41× | ||
| Q1 25 | — | 1.76× | ||
| Q4 24 | 0.89× | 1.17× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | 5.48× | 1.50× | ||
| Q1 24 | 3.30× | 2.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
AVB
Segment breakdown not available.
