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Side-by-side financial comparison of Douglas Emmett Inc (DEI) and Essex Property Trust (ESS). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $249.4M, roughly 1.9× Douglas Emmett Inc). Essex Property Trust runs the higher net margin — 17.9% vs -2.7%, a 20.6% gap on every dollar of revenue. On growth, Essex Property Trust posted the faster year-over-year revenue change (5.5% vs 1.8%). Over the past eight quarters, Essex Property Trust's revenue compounded faster (6.0% CAGR vs 0.9%).
Douglas Emmett Inc is a leading real estate investment trust (REIT) that owns, operates, and acquires high-quality office and multifamily residential properties. Its core operation areas are high-barrier-to-entry markets including Los Angeles in California and Honolulu in Hawaii, serving premium commercial and residential tenant segments.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
DEI vs ESS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $249.4M | $479.6M |
| Net Profit | $-6.8M | $85.7M |
| Gross Margin | 62.2% | 70.0% |
| Operating Margin | — | 31.7% |
| Net Margin | -2.7% | 17.9% |
| Revenue YoY | 1.8% | 5.5% |
| Net Profit YoY | -670.7% | -71.6% |
| EPS (diluted) | $-0.04 | $1.24 |
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 | $249.4M | $479.6M | ||
| Q3 25 | $250.6M | $473.3M | ||
| Q2 25 | $252.4M | $469.8M | ||
| Q1 25 | $251.5M | $464.6M | ||
| Q4 24 | $245.0M | $454.5M | ||
| Q3 24 | $250.8M | $450.7M | ||
| Q2 24 | $245.8M | $442.4M | ||
| Q1 24 | $245.0M | $426.9M |
| Q4 25 | $-6.8M | $85.7M | ||
| Q3 25 | $-10.9M | $172.7M | ||
| Q2 25 | $-5.8M | $231.5M | ||
| Q1 25 | $39.8M | $212.8M | ||
| Q4 24 | $-888.0K | $301.7M | ||
| Q3 24 | $4.6M | $125.5M | ||
| Q2 24 | $10.9M | $99.0M | ||
| Q1 24 | $8.9M | $285.1M |
| Q4 25 | 62.2% | 70.0% | ||
| Q3 25 | 63.6% | 69.2% | ||
| Q2 25 | 63.2% | 70.7% | ||
| Q1 25 | 64.4% | 69.6% | ||
| Q4 24 | 63.5% | 70.0% | ||
| Q3 24 | 62.2% | 69.5% | ||
| Q2 24 | 66.2% | 70.8% | ||
| Q1 24 | 66.1% | 69.7% |
| Q4 25 | — | 31.7% | ||
| Q3 25 | — | 44.5% | ||
| Q2 25 | — | 59.5% | ||
| Q1 25 | — | 55.3% | ||
| Q4 24 | — | 67.0% | ||
| Q3 24 | — | 28.6% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | — | 31.0% |
| Q4 25 | -2.7% | 17.9% | ||
| Q3 25 | -4.3% | 36.5% | ||
| Q2 25 | -2.3% | 49.3% | ||
| Q1 25 | 15.8% | 45.8% | ||
| Q4 24 | -0.4% | 66.4% | ||
| Q3 24 | 1.8% | 27.8% | ||
| Q2 24 | 4.4% | 22.4% | ||
| Q1 24 | 3.6% | 66.8% |
| Q4 25 | $-0.04 | $1.24 | ||
| Q3 25 | $-0.07 | $2.56 | ||
| Q2 25 | $-0.04 | $3.44 | ||
| Q1 25 | $0.24 | $3.16 | ||
| Q4 24 | $-0.01 | $4.00 | ||
| Q3 24 | $0.03 | $1.84 | ||
| Q2 24 | $0.06 | $1.45 | ||
| Q1 24 | $0.05 | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $340.8M | $76.2M |
| Total DebtLower is stronger | $5.5B | — |
| Stockholders' EquityBook value | $1.9B | $5.5B |
| Total Assets | $9.3B | $13.2B |
| Debt / EquityLower = less leverage | 2.91× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $340.8M | $76.2M | ||
| Q3 25 | $408.5M | $66.0M | ||
| Q2 25 | $426.9M | $58.7M | ||
| Q1 25 | $525.7M | $98.7M | ||
| Q4 24 | $444.6M | $66.8M | ||
| Q3 24 | $544.2M | $71.3M | ||
| Q2 24 | $561.1M | $55.2M | ||
| Q1 24 | $556.7M | $499.0M |
| Q4 25 | $5.5B | — | ||
| Q3 25 | $5.6B | $6.4B | ||
| Q2 25 | $5.6B | $6.4B | ||
| Q1 25 | $5.6B | $6.8B | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | $5.5B | $6.4B | ||
| Q2 24 | $5.5B | $6.2B | ||
| Q1 24 | $5.5B | $6.6B |
| Q4 25 | $1.9B | $5.5B | ||
| Q3 25 | $1.9B | $5.6B | ||
| Q2 25 | $2.0B | $5.6B | ||
| Q1 25 | $2.0B | $5.6B | ||
| Q4 24 | $2.1B | $5.5B | ||
| Q3 24 | $2.1B | $5.4B | ||
| Q2 24 | $2.2B | $5.5B | ||
| Q1 24 | $2.2B | $5.5B |
| Q4 25 | $9.3B | $13.2B | ||
| Q3 25 | $9.4B | $13.2B | ||
| Q2 25 | $9.4B | $13.2B | ||
| Q1 25 | $9.6B | $13.2B | ||
| Q4 24 | $9.4B | $12.9B | ||
| Q3 24 | $9.5B | $12.6B | ||
| Q2 24 | $9.6B | $12.5B | ||
| Q1 24 | $9.6B | $12.9B |
| Q4 25 | 2.91× | — | ||
| Q3 25 | 2.85× | 1.15× | ||
| Q2 25 | 2.78× | 1.14× | ||
| Q1 25 | 2.75× | 1.22× | ||
| Q4 24 | 2.67× | — | ||
| Q3 24 | 2.64× | 1.18× | ||
| Q2 24 | 2.56× | 1.13× | ||
| Q1 24 | 2.52× | 1.19× |
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 | $386.9M | $1.1B |
| Free Cash FlowOCF − Capex | $194.5M | — |
| FCF MarginFCF / Revenue | 78.0% | — |
| Capex IntensityCapex / Revenue | 77.1% | — |
| Cash ConversionOCF / Net Profit | — | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $376.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $386.9M | $1.1B | ||
| Q3 25 | $109.8M | $342.6M | ||
| Q2 25 | $81.3M | $216.1M | ||
| Q1 25 | $132.6M | $281.5M | ||
| Q4 24 | $408.7M | $1.1B | ||
| Q3 24 | $103.7M | $316.2M | ||
| Q2 24 | $91.9M | $218.9M | ||
| Q1 24 | $139.0M | $314.9M |
| Q4 25 | $194.5M | — | ||
| Q3 25 | $61.9M | — | ||
| Q2 25 | $30.2M | — | ||
| Q1 25 | $90.3M | — | ||
| Q4 24 | $241.4M | — | ||
| Q3 24 | $63.2M | — | ||
| Q2 24 | $52.2M | — | ||
| Q1 24 | $90.9M | — |
| Q4 25 | 78.0% | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | 35.9% | — | ||
| Q4 24 | 98.5% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 21.2% | — | ||
| Q1 24 | 37.1% | — |
| Q4 25 | 77.1% | — | ||
| Q3 25 | 19.1% | — | ||
| Q2 25 | 20.3% | — | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 68.3% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 16.1% | — | ||
| Q1 24 | 19.6% | — |
| Q4 25 | — | 12.53× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | 3.33× | 1.32× | ||
| Q4 24 | — | 3.54× | ||
| Q3 24 | 22.46× | 2.52× | ||
| Q2 24 | 8.44× | 2.21× | ||
| Q1 24 | 15.60× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DEI
| Rental Revenue And Tenant Recovery Revenue | $169.4M | 68% |
| Multifamily Segment | $49.9M | 20% |
| Parking Revenue And Other Income | $30.2M | 12% |
ESS
Segment breakdown not available.
