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Side-by-side financial comparison of American Homes 4 Rent (AMH) and MODIV INDUSTRIAL, INC. (MDV). 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 $11.1M, roughly 41.1× MODIV INDUSTRIAL, INC.). American Homes 4 Rent runs the higher net margin — 31.7% vs 11.0%, a 20.8% gap on every dollar of revenue. On growth, American Homes 4 Rent posted the faster year-over-year revenue change (4.2% vs -5.6%). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs -3.8%).
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.
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
AMH vs MDV — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $11.1M |
| Net Profit | $144.3M | $1.2M |
| Gross Margin | — | — |
| Operating Margin | — | 45.8% |
| Net Margin | 31.7% | 11.0% |
| Revenue YoY | 4.2% | -5.6% |
| Net Profit YoY | 0.3% | -22.0% |
| EPS (diluted) | $0.33 | $0.02 |
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 | $455.0M | $11.1M | ||
| Q3 25 | $478.5M | $11.7M | ||
| Q2 25 | $457.5M | $11.8M | ||
| Q1 25 | $459.3M | $11.8M | ||
| Q4 24 | $436.6M | $11.7M | ||
| Q3 24 | $445.1M | $11.7M | ||
| Q2 24 | $423.5M | $11.4M | ||
| Q1 24 | $423.6M | $12.0M |
| Q4 25 | $144.3M | $1.2M | ||
| Q3 25 | $116.8M | $1.0M | ||
| Q2 25 | $123.6M | $-2.0M | ||
| Q1 25 | $128.7M | $829.0K | ||
| Q4 24 | $143.9M | $1.6M | ||
| Q3 24 | $87.6M | $-587.0K | ||
| Q2 24 | $108.5M | $1.3M | ||
| Q1 24 | $128.1M | $3.7M |
| Q4 25 | — | 45.8% | ||
| Q3 25 | — | 41.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 40.2% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 42.0% | ||
| Q2 24 | — | 44.6% | ||
| Q1 24 | — | 55.6% |
| Q4 25 | 31.7% | 11.0% | ||
| Q3 25 | 24.4% | 9.0% | ||
| Q2 25 | 27.0% | -17.1% | ||
| Q1 25 | 28.0% | 7.0% | ||
| Q4 24 | 33.0% | 13.3% | ||
| Q3 24 | 19.7% | -5.0% | ||
| Q2 24 | 25.6% | 11.6% | ||
| Q1 24 | 30.2% | 31.1% |
| Q4 25 | $0.33 | $0.02 | ||
| Q3 25 | $0.27 | $0.00 | ||
| Q2 25 | $0.28 | $-0.32 | ||
| Q1 25 | $0.30 | $-0.01 | ||
| Q4 24 | $0.33 | $0.07 | ||
| Q3 24 | $0.20 | $-0.18 | ||
| Q2 24 | $0.25 | $0.03 | ||
| Q1 24 | $0.30 | $0.33 |
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 | $14.4M |
| Total DebtLower is stronger | $5.1B | $261.5M |
| Stockholders' EquityBook value | $7.0B | $162.7M |
| Total Assets | $13.2B | $476.5M |
| Debt / EquityLower = less leverage | 0.72× | 1.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $14.4M | ||
| Q3 25 | $45.6M | $8.3M | ||
| Q2 25 | $323.3M | $5.8M | ||
| Q1 25 | $69.7M | $6.2M | ||
| Q4 24 | $199.4M | $11.5M | ||
| Q3 24 | $162.5M | $6.8M | ||
| Q2 24 | $718.4M | $18.9M | ||
| Q1 24 | $124.8M | $18.4M |
| Q4 25 | $5.1B | $261.5M | ||
| Q3 25 | $4.8B | $279.7M | ||
| Q2 25 | $5.2B | $279.7M | ||
| Q1 25 | $4.9B | $279.7M | ||
| Q4 24 | $5.0B | $279.8M | ||
| Q3 24 | $4.5B | $279.7M | ||
| Q2 24 | $5.0B | $279.7M | ||
| Q1 24 | $4.5B | $279.6M |
| Q4 25 | $7.0B | $162.7M | ||
| Q3 25 | $7.2B | $164.8M | ||
| Q2 25 | $7.2B | $165.6M | ||
| Q1 25 | $7.2B | $171.1M | ||
| Q4 24 | $7.2B | $190.1M | ||
| Q3 24 | $7.0B | $186.3M | ||
| Q2 24 | $7.0B | $187.0M | ||
| Q1 24 | $7.0B | $188.0M |
| Q4 25 | $13.2B | $476.5M | ||
| Q3 25 | $13.3B | $499.6M | ||
| Q2 25 | $13.6B | $498.9M | ||
| Q1 25 | $13.3B | $506.8M | ||
| Q4 24 | $13.4B | $507.8M | ||
| Q3 24 | $12.8B | $507.4M | ||
| Q2 24 | $13.3B | $519.5M | ||
| Q1 24 | $12.8B | $522.5M |
| Q4 25 | 0.72× | 1.61× | ||
| Q3 25 | 0.68× | 1.70× | ||
| Q2 25 | 0.72× | 1.69× | ||
| Q1 25 | 0.69× | 1.63× | ||
| Q4 24 | 0.70× | 1.47× | ||
| Q3 24 | 0.64× | 1.50× | ||
| Q2 24 | 0.71× | 1.50× | ||
| Q1 24 | 0.64× | 1.49× |
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 | $145.8M | $3.8M |
| Free Cash FlowOCF − Capex | $135.5M | — |
| FCF MarginFCF / Revenue | 29.8% | — |
| Capex IntensityCapex / Revenue | 2.3% | — |
| Cash ConversionOCF / Net Profit | 1.01× | 3.17× |
| TTM Free Cash FlowTrailing 4 quarters | $823.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.8M | $3.8M | ||
| Q3 25 | $223.3M | $4.1M | ||
| Q2 25 | $271.9M | $3.9M | ||
| Q1 25 | $223.4M | $3.0M | ||
| Q4 24 | $102.2M | $5.4M | ||
| Q3 24 | $233.6M | $5.1M | ||
| Q2 24 | $274.0M | $4.7M | ||
| Q1 24 | $201.8M | $3.0M |
| Q4 25 | $135.5M | — | ||
| Q3 25 | $214.5M | — | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $215.9M | — | ||
| Q4 24 | $97.9M | — | ||
| Q3 24 | $225.3M | — | ||
| Q2 24 | $263.3M | — | ||
| Q1 24 | $191.0M | — |
| Q4 25 | 29.8% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 47.0% | — | ||
| Q4 24 | 22.4% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 62.2% | — | ||
| Q1 24 | 45.1% | — |
| Q4 25 | 2.3% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | 1.01× | 3.17× | ||
| Q3 25 | 1.91× | 3.95× | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | 3.68× | ||
| Q4 24 | 0.71× | 3.47× | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | 3.55× | ||
| Q1 24 | 1.58× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
