vs
Side-by-side financial comparison of American Homes 4 Rent (AMH) and UDR, Inc. (UDR). 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 $425.8M, roughly 1.1× UDR, Inc.). UDR, Inc. runs the higher net margin — 44.6% vs 31.7%, a 12.9% gap on every dollar of revenue. On growth, American Homes 4 Rent posted the faster year-over-year revenue change (4.2% vs 0.9%). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs 1.3%).
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.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
AMH vs UDR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $425.8M |
| Net Profit | $144.3M | $189.8M |
| Gross Margin | — | — |
| Operating Margin | — | 54.0% |
| Net Margin | 31.7% | 44.6% |
| Revenue YoY | 4.2% | 0.9% |
| Net Profit YoY | 0.3% | 147.2% |
| EPS (diluted) | $0.33 | $0.63 |
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 | — | $425.8M | ||
| Q4 25 | $455.0M | $433.1M | ||
| Q3 25 | $478.5M | $431.9M | ||
| Q2 25 | $457.5M | $425.4M | ||
| Q1 25 | $459.3M | $421.9M | ||
| Q4 24 | $436.6M | $422.7M | ||
| Q3 24 | $445.1M | $420.2M | ||
| Q2 24 | $423.5M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $144.3M | $222.9M | ||
| Q3 25 | $116.8M | $40.4M | ||
| Q2 25 | $123.6M | $37.7M | ||
| Q1 25 | $128.7M | $76.7M | ||
| Q4 24 | $143.9M | $-5.0M | ||
| Q3 24 | $87.6M | $22.6M | ||
| Q2 24 | $108.5M | $28.9M |
| Q1 26 | — | 54.0% | ||
| Q4 25 | — | 64.1% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | — | 18.2% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 16.6% | ||
| Q2 24 | — | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | 31.7% | 51.5% | ||
| Q3 25 | 24.4% | 9.4% | ||
| Q2 25 | 27.0% | 8.9% | ||
| Q1 25 | 28.0% | 18.2% | ||
| Q4 24 | 33.0% | -220.5% | ||
| Q3 24 | 19.7% | 5.4% | ||
| Q2 24 | 25.6% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $0.33 | $0.67 | ||
| Q3 25 | $0.27 | $0.12 | ||
| Q2 25 | $0.28 | $0.11 | ||
| Q1 25 | $0.30 | $0.23 | ||
| Q4 24 | $0.33 | $-0.01 | ||
| Q3 24 | $0.20 | $0.06 | ||
| Q2 24 | $0.25 | $0.08 |
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 | $1.3M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $7.0B | $3.3B |
| Total Assets | $13.2B | $10.3B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | $108.5M | $1.2M | ||
| Q3 25 | $45.6M | $1.2M | ||
| Q2 25 | $323.3M | $1.5M | ||
| Q1 25 | $69.7M | $1.3M | ||
| Q4 24 | $199.4M | $1.3M | ||
| Q3 24 | $162.5M | $2.3M | ||
| Q2 24 | $718.4M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $5.8B | ||
| Q3 25 | $4.8B | $5.8B | ||
| Q2 25 | $5.2B | $5.8B | ||
| Q1 25 | $4.9B | $5.8B | ||
| Q4 24 | $5.0B | $5.8B | ||
| Q3 24 | $4.5B | $5.9B | ||
| Q2 24 | $5.0B | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $7.0B | $3.3B | ||
| Q3 25 | $7.2B | $3.3B | ||
| Q2 25 | $7.2B | $3.3B | ||
| Q1 25 | $7.2B | $3.3B | ||
| Q4 24 | $7.2B | $3.4B | ||
| Q3 24 | $7.0B | $3.5B | ||
| Q2 24 | $7.0B | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $13.2B | $10.6B | ||
| Q3 25 | $13.3B | $10.6B | ||
| Q2 25 | $13.6B | $10.6B | ||
| Q1 25 | $13.3B | $10.7B | ||
| Q4 24 | $13.4B | $10.9B | ||
| Q3 24 | $12.8B | $11.1B | ||
| Q2 24 | $13.3B | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 1.77× | ||
| Q3 25 | 0.68× | 1.78× | ||
| Q2 25 | 0.72× | 1.74× | ||
| Q1 25 | 0.69× | 1.74× | ||
| Q4 24 | 0.70× | 1.69× | ||
| Q3 24 | 0.64× | 1.67× | ||
| Q2 24 | 0.71× | 1.55× |
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% | 4.9% |
| 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 | $902.9M | ||
| Q3 25 | $223.3M | $234.9M | ||
| Q2 25 | $271.9M | $250.3M | ||
| Q1 25 | $223.4M | $156.2M | ||
| Q4 24 | $811.5M | $876.8M | ||
| Q3 24 | $233.6M | $230.3M | ||
| Q2 24 | $274.0M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $823.7M | $650.0M | ||
| Q3 25 | $214.5M | $164.6M | ||
| Q2 25 | $257.7M | $190.1M | ||
| Q1 25 | $215.9M | $103.2M | ||
| Q4 24 | $777.5M | $627.0M | ||
| Q3 24 | $225.3M | $161.3M | ||
| Q2 24 | $263.3M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | 181.0% | 150.1% | ||
| Q3 25 | 44.8% | 38.1% | ||
| Q2 25 | 56.3% | 44.7% | ||
| Q1 25 | 47.0% | 24.5% | ||
| Q4 24 | 178.1% | 148.3% | ||
| Q3 24 | 50.6% | 38.4% | ||
| Q2 24 | 62.2% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 8.9% | 58.4% | ||
| Q3 25 | 1.8% | 16.3% | ||
| Q2 25 | 3.1% | 14.2% | ||
| Q1 25 | 1.6% | 12.6% | ||
| Q4 24 | 7.8% | 59.1% | ||
| Q3 24 | 1.9% | 16.4% | ||
| Q2 24 | 2.5% | 16.2% |
| Q1 26 | — | — | ||
| Q4 25 | 5.99× | 4.05× | ||
| Q3 25 | 1.91× | 5.81× | ||
| Q2 25 | 2.20× | 6.64× | ||
| Q1 25 | 1.74× | 2.04× | ||
| Q4 24 | 5.64× | — | ||
| Q3 24 | 2.67× | 10.19× | ||
| Q2 24 | 2.52× | 8.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
