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Side-by-side financial comparison of Essex Property Trust (ESS) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $246.2M, roughly 1.9× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 17.9%, a 21.8% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 5.5%). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs 6.0%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
ESS vs HCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $246.2M |
| Net Profit | $85.7M | $97.7M |
| Gross Margin | 70.0% | — |
| Operating Margin | 31.7% | 58.5% |
| Net Margin | 17.9% | 39.7% |
| Revenue YoY | 5.5% | 52.1% |
| Net Profit YoY | -71.6% | 3679.2% |
| EPS (diluted) | $1.24 | $7.29 |
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 | $479.6M | $246.2M | ||
| Q3 25 | $473.3M | $216.3M | ||
| Q2 25 | $469.8M | $221.9M | ||
| Q1 25 | $464.6M | $216.4M | ||
| Q4 24 | $454.5M | $161.9M | ||
| Q3 24 | $450.7M | $175.3M | ||
| Q2 24 | $442.4M | $206.2M | ||
| Q1 24 | $426.9M | $206.6M |
| Q4 25 | $85.7M | $97.7M | ||
| Q3 25 | $172.7M | $65.5M | ||
| Q2 25 | $231.5M | $66.2M | ||
| Q1 25 | $212.8M | $69.7M | ||
| Q4 24 | $301.7M | $2.6M | ||
| Q3 24 | $125.5M | $5.7M | ||
| Q2 24 | $99.0M | $54.1M | ||
| Q1 24 | $285.1M | $47.6M |
| Q4 25 | 70.0% | — | ||
| Q3 25 | 69.2% | — | ||
| Q2 25 | 70.7% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 70.0% | — | ||
| Q3 24 | 69.5% | — | ||
| Q2 24 | 70.8% | — | ||
| Q1 24 | 69.7% | — |
| Q4 25 | 31.7% | 58.5% | ||
| Q3 25 | 44.5% | 41.9% | ||
| Q2 25 | 59.5% | 42.5% | ||
| Q1 25 | 55.3% | 46.4% | ||
| Q4 24 | 67.0% | 3.6% | ||
| Q3 24 | 28.6% | 8.0% | ||
| Q2 24 | 31.1% | 36.9% | ||
| Q1 24 | 31.0% | 37.5% |
| Q4 25 | 17.9% | 39.7% | ||
| Q3 25 | 36.5% | 30.3% | ||
| Q2 25 | 49.3% | 29.8% | ||
| Q1 25 | 45.8% | 32.2% | ||
| Q4 24 | 66.4% | 1.6% | ||
| Q3 24 | 27.8% | 3.2% | ||
| Q2 24 | 22.4% | 26.2% | ||
| Q1 24 | 66.8% | 23.0% |
| Q4 25 | $1.24 | $7.29 | ||
| Q3 25 | $2.56 | $4.90 | ||
| Q2 25 | $3.44 | $5.18 | ||
| Q1 25 | $3.16 | $5.35 | ||
| Q4 24 | $4.00 | $0.32 | ||
| Q3 24 | $1.84 | $0.52 | ||
| Q2 24 | $1.45 | $4.24 | ||
| Q1 24 | $4.25 | $3.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $76.2M | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.5B | $1.0B |
| Total Assets | $13.2B | $2.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $1.2B | ||
| Q3 25 | $66.0M | $987.9M | ||
| Q2 25 | $58.7M | $947.2M | ||
| Q1 25 | $98.7M | $754.5M | ||
| Q4 24 | $66.8M | $532.5M | ||
| Q3 24 | $71.3M | $518.8M | ||
| Q2 24 | $55.2M | $445.8M | ||
| Q1 24 | $499.0M | $655.4M |
| Q4 25 | — | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $1.0B | ||
| Q3 25 | $5.6B | $821.8M | ||
| Q2 25 | $5.6B | $758.6M | ||
| Q1 25 | $5.6B | $522.7M | ||
| Q4 24 | $5.5B | $453.3M | ||
| Q3 24 | $5.4B | $455.3M | ||
| Q2 24 | $5.5B | $447.3M | ||
| Q1 24 | $5.5B | $395.7M |
| Q4 25 | $13.2B | $2.5B | ||
| Q3 25 | $13.2B | $2.3B | ||
| Q2 25 | $13.2B | $2.4B | ||
| Q1 25 | $13.2B | $2.3B | ||
| Q4 24 | $12.9B | $2.2B | ||
| Q3 24 | $12.6B | $2.0B | ||
| Q2 24 | $12.5B | $1.9B | ||
| Q1 24 | $12.9B | $1.8B |
| Q4 25 | — | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 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 | $1.1B | $444.4M |
| Free Cash FlowOCF − Capex | — | $440.8M |
| FCF MarginFCF / Revenue | — | 179.0% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 12.53× | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $444.4M | ||
| Q3 25 | $342.6M | $26.7M | ||
| Q2 25 | $216.1M | $145.0M | ||
| Q1 25 | $281.5M | $162.0M | ||
| Q4 24 | $1.1B | $331.8M | ||
| Q3 24 | $316.2M | $104.1M | ||
| Q2 24 | $218.9M | $-29.0M | ||
| Q1 24 | $314.9M | $182.0M |
| Q4 25 | — | $440.8M | ||
| Q3 25 | — | $25.9M | ||
| Q2 25 | — | $144.5M | ||
| Q1 25 | — | $160.3M | ||
| Q4 24 | — | $327.8M | ||
| Q3 24 | — | $103.2M | ||
| Q2 24 | — | $-30.1M | ||
| Q1 24 | — | $181.0M |
| Q4 25 | — | 179.0% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 65.1% | ||
| Q1 25 | — | 74.1% | ||
| Q4 24 | — | 202.5% | ||
| Q3 24 | — | 58.9% | ||
| Q2 24 | — | -14.6% | ||
| Q1 24 | — | 87.6% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.5% |
| Q4 25 | 12.53× | 4.55× | ||
| Q3 25 | 1.98× | 0.41× | ||
| Q2 25 | 0.93× | 2.19× | ||
| Q1 25 | 1.32× | 2.32× | ||
| Q4 24 | 3.54× | 128.41× | ||
| Q3 24 | 2.52× | 18.33× | ||
| Q2 24 | 2.21× | -0.54× | ||
| Q1 24 | 1.10× | 3.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESS
Segment breakdown not available.
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
