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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Federal Realty Investment Trust (FRT). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $336.0M, roughly 1.4× Federal Realty Investment Trust). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 31.7%, a 6.9% gap on every dollar of revenue. On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs 4.2%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
AMH vs FRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $336.0M |
| Net Profit | $144.3M | $129.7M |
| Gross Margin | — | — |
| Operating Margin | — | 53.8% |
| Net Margin | 31.7% | 38.6% |
| Revenue YoY | 4.2% | 8.7% |
| Net Profit YoY | 0.3% | 103.5% |
| EPS (diluted) | $0.33 | $1.49 |
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.
| Q1 26 | — | $336.0M | ||
| Q4 25 | $455.0M | $336.0M | ||
| Q3 25 | $478.5M | $322.3M | ||
| Q2 25 | $457.5M | $311.5M | ||
| Q1 25 | $459.3M | $309.2M | ||
| Q4 24 | $436.6M | $311.4M | ||
| Q3 24 | $445.1M | $303.6M | ||
| Q2 24 | $423.5M | $296.1M |
| Q1 26 | — | $129.7M | ||
| Q4 25 | $144.3M | $129.7M | ||
| Q3 25 | $116.8M | $61.6M | ||
| Q2 25 | $123.6M | $155.9M | ||
| Q1 25 | $128.7M | $63.8M | ||
| Q4 24 | $143.9M | $65.5M | ||
| Q3 24 | $87.6M | $61.0M | ||
| Q2 24 | $108.5M | $112.0M |
| Q1 26 | — | 53.8% | ||
| Q4 25 | — | 53.8% | ||
| Q3 25 | — | 34.3% | ||
| Q2 25 | — | 65.1% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 35.1% | ||
| Q3 24 | — | 34.9% | ||
| Q2 24 | — | 53.0% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 31.7% | 38.6% | ||
| Q3 25 | 24.4% | 19.1% | ||
| Q2 25 | 27.0% | 50.0% | ||
| Q1 25 | 28.0% | 20.6% | ||
| Q4 24 | 33.0% | 21.0% | ||
| Q3 24 | 19.7% | 20.1% | ||
| Q2 24 | 25.6% | 37.8% |
| Q1 26 | — | $1.49 | ||
| Q4 25 | $0.33 | $1.49 | ||
| Q3 25 | $0.27 | $0.69 | ||
| Q2 25 | $0.28 | $1.78 | ||
| Q1 25 | $0.30 | $0.72 | ||
| Q4 24 | $0.33 | $0.74 | ||
| Q3 24 | $0.20 | $0.70 | ||
| Q2 24 | $0.25 | $1.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $107.4M |
| Total DebtLower is stronger | $5.1B | $5.0B |
| Stockholders' EquityBook value | $7.0B | $3.2B |
| Total Assets | $13.2B | $9.1B |
| Debt / EquityLower = less leverage | 0.72× | 1.53× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $107.4M | ||
| Q4 25 | $108.5M | $107.4M | ||
| Q3 25 | $45.6M | $111.3M | ||
| Q2 25 | $323.3M | $177.0M | ||
| Q1 25 | $69.7M | $109.2M | ||
| Q4 24 | $199.4M | $123.4M | ||
| Q3 24 | $162.5M | $97.0M | ||
| Q2 24 | $718.4M | $103.2M |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $5.1B | $5.0B | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | $4.5B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $7.0B | $3.2B | ||
| Q3 25 | $7.2B | $3.2B | ||
| Q2 25 | $7.2B | $3.2B | ||
| Q1 25 | $7.2B | $3.2B | ||
| Q4 24 | $7.2B | $3.2B | ||
| Q3 24 | $7.0B | $3.1B | ||
| Q2 24 | $7.0B | $3.0B |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $13.2B | $9.1B | ||
| Q3 25 | $13.3B | $8.9B | ||
| Q2 25 | $13.6B | $8.6B | ||
| Q1 25 | $13.3B | $8.6B | ||
| Q4 24 | $13.4B | $8.5B | ||
| Q3 24 | $12.8B | $8.5B | ||
| Q2 24 | $13.3B | $8.4B |
| Q1 26 | — | 1.53× | ||
| Q4 25 | 0.72× | 1.53× | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | 1.42× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — |
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 | $864.3M | — |
| Free Cash FlowOCF − Capex | $823.7M | — |
| FCF MarginFCF / Revenue | 181.0% | — |
| Capex IntensityCapex / Revenue | 8.9% | — |
| Cash ConversionOCF / Net Profit | 5.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $864.3M | $622.4M | ||
| Q3 25 | $223.3M | $147.8M | ||
| Q2 25 | $271.9M | $150.7M | ||
| Q1 25 | $223.4M | $179.0M | ||
| Q4 24 | $811.5M | $574.6M | ||
| Q3 24 | $233.6M | $144.1M | ||
| Q2 24 | $274.0M | $169.7M |
| Q1 26 | — | — | ||
| Q4 25 | $823.7M | — | ||
| Q3 25 | $214.5M | — | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $215.9M | — | ||
| Q4 24 | $777.5M | — | ||
| Q3 24 | $225.3M | — | ||
| Q2 24 | $263.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | 181.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 47.0% | — | ||
| Q4 24 | 178.1% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 62.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.99× | 4.80× | ||
| Q3 25 | 1.91× | 2.40× | ||
| Q2 25 | 2.20× | 0.97× | ||
| Q1 25 | 1.74× | 2.81× | ||
| Q4 24 | 5.64× | 8.77× | ||
| Q3 24 | 2.67× | 2.36× | ||
| Q2 24 | 2.52× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
