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Side-by-side financial comparison of American Homes 4 Rent (AMH) and TREX CO INC (TREX). 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 $343.4M, roughly 1.3× TREX CO INC). American Homes 4 Rent runs the higher net margin — 31.7% vs 17.9%, a 13.8% gap on every dollar of revenue. On growth, American Homes 4 Rent posted the faster year-over-year revenue change (4.2% vs 1.0%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $-143.4M). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs -4.5%).
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.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
AMH vs TREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $343.4M |
| Net Profit | $144.3M | $61.4M |
| Gross Margin | — | 40.5% |
| Operating Margin | — | 24.3% |
| Net Margin | 31.7% | 17.9% |
| Revenue YoY | 4.2% | 1.0% |
| Net Profit YoY | 0.3% | 1.6% |
| EPS (diluted) | $0.33 | $0.58 |
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 | — | $343.4M | ||
| Q4 25 | $455.0M | $161.1M | ||
| Q3 25 | $478.5M | $285.3M | ||
| Q2 25 | $457.5M | $387.8M | ||
| Q1 25 | $459.3M | $340.0M | ||
| Q4 24 | $436.6M | $167.6M | ||
| Q3 24 | $445.1M | $233.7M | ||
| Q2 24 | $423.5M | $376.5M |
| Q1 26 | — | $61.4M | ||
| Q4 25 | $144.3M | $2.3M | ||
| Q3 25 | $116.8M | $51.8M | ||
| Q2 25 | $123.6M | $75.9M | ||
| Q1 25 | $128.7M | $60.4M | ||
| Q4 24 | $143.9M | $9.8M | ||
| Q3 24 | $87.6M | $40.6M | ||
| Q2 24 | $108.5M | $87.0M |
| Q1 26 | — | 40.5% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 44.7% |
| Q1 26 | — | 24.3% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 24.7% | ||
| Q2 25 | — | 26.4% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 31.1% |
| Q1 26 | — | 17.9% | ||
| Q4 25 | 31.7% | 1.4% | ||
| Q3 25 | 24.4% | 18.1% | ||
| Q2 25 | 27.0% | 19.6% | ||
| Q1 25 | 28.0% | 17.8% | ||
| Q4 24 | 33.0% | 5.8% | ||
| Q3 24 | 19.7% | 17.4% | ||
| Q2 24 | 25.6% | 23.1% |
| Q1 26 | — | $0.58 | ||
| Q4 25 | $0.33 | $0.03 | ||
| Q3 25 | $0.27 | $0.48 | ||
| Q2 25 | $0.28 | $0.71 | ||
| Q1 25 | $0.30 | $0.56 | ||
| Q4 24 | $0.33 | $0.10 | ||
| Q3 24 | $0.20 | $0.37 | ||
| Q2 24 | $0.25 | $0.80 |
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 | $4.5M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $7.0B | $995.8M |
| Total Assets | $13.2B | $1.7B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.5M | ||
| Q4 25 | $108.5M | $3.8M | ||
| Q3 25 | $45.6M | $11.4M | ||
| Q2 25 | $323.3M | $5.5M | ||
| Q1 25 | $69.7M | $5.0M | ||
| Q4 24 | $199.4M | $1.3M | ||
| Q3 24 | $162.5M | $12.8M | ||
| Q2 24 | $718.4M | $1.2M |
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — |
| Q1 26 | — | $995.8M | ||
| Q4 25 | $7.0B | $1.0B | ||
| Q3 25 | $7.2B | $1.0B | ||
| Q2 25 | $7.2B | $989.3M | ||
| Q1 25 | $7.2B | $910.1M | ||
| Q4 24 | $7.2B | $850.1M | ||
| Q3 24 | $7.0B | $887.9M | ||
| Q2 24 | $7.0B | $894.9M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $13.2B | $1.5B | ||
| Q3 25 | $13.3B | $1.5B | ||
| Q2 25 | $13.6B | $1.5B | ||
| Q1 25 | $13.3B | $1.6B | ||
| Q4 24 | $13.4B | $1.3B | ||
| Q3 24 | $12.8B | $1.3B | ||
| Q2 24 | $13.3B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| 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 | $-118.4M |
| Free Cash FlowOCF − Capex | $823.7M | $-143.4M |
| FCF MarginFCF / Revenue | 181.0% | -41.8% |
| Capex IntensityCapex / Revenue | 8.9% | — |
| Cash ConversionOCF / Net Profit | 5.99× | -1.93× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $224.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-118.4M | ||
| Q4 25 | $864.3M | $65.5M | ||
| Q3 25 | $223.3M | $196.9M | ||
| Q2 25 | $271.9M | $249.8M | ||
| Q1 25 | $223.4M | $-154.0M | ||
| Q4 24 | $811.5M | $-8.5M | ||
| Q3 24 | $233.6M | $132.8M | ||
| Q2 24 | $274.0M | $193.7M |
| Q1 26 | — | $-143.4M | ||
| Q4 25 | $823.7M | $22.1M | ||
| Q3 25 | $214.5M | $142.9M | ||
| Q2 25 | $257.7M | $203.0M | ||
| Q1 25 | $215.9M | $-233.5M | ||
| Q4 24 | $777.5M | $-89.3M | ||
| Q3 24 | $225.3M | $54.5M | ||
| Q2 24 | $263.3M | $158.2M |
| Q1 26 | — | -41.8% | ||
| Q4 25 | 181.0% | 13.7% | ||
| Q3 25 | 44.8% | 50.1% | ||
| Q2 25 | 56.3% | 52.3% | ||
| Q1 25 | 47.0% | -68.7% | ||
| Q4 24 | 178.1% | -53.3% | ||
| Q3 24 | 50.6% | 23.3% | ||
| Q2 24 | 62.2% | 42.0% |
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | 26.9% | ||
| Q3 25 | 1.8% | 18.9% | ||
| Q2 25 | 3.1% | 12.1% | ||
| Q1 25 | 1.6% | 23.4% | ||
| Q4 24 | 7.8% | 48.2% | ||
| Q3 24 | 1.9% | 33.5% | ||
| Q2 24 | 2.5% | 9.4% |
| Q1 26 | — | -1.93× | ||
| Q4 25 | 5.99× | 28.45× | ||
| Q3 25 | 1.91× | 3.80× | ||
| Q2 25 | 2.20× | 3.29× | ||
| Q1 25 | 1.74× | -2.55× | ||
| Q4 24 | 5.64× | -0.87× | ||
| Q3 24 | 2.67× | 3.27× | ||
| Q2 24 | 2.52× | 2.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
