UDR Inc. (UDR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.13	$0.21	+61.5%	—	$425.4M	—
Q1 26	$0.13	$0.48	+269.2%	—	$425.8M	—
Q4 25	$0.16	$0.67	+318.8%	—	$433.1M	—
Q3 25	$0.13	$0.12	-7.7%	—	$431.9M	—
Q2 25	$0.13	$0.07	-46.2%	—	—	—
Q1 25	$0.11	$0.18	+63.6%	—	—	—
Q4 24	$0.03	$0.03	0.0%	—	—	—
Q3 24	$0.1	$0.08	-20.0%	—	—	—
Q2 24	$0.09	$0.1	+11.1%	—	—	—
Q1 24	$0.09	$0.16	+77.8%	—	—	—
Q4 23	$0.11	$0.11	0.0%	—	—	—
Q3 23	$0.11	$0.1	-9.1%	—	—	—
Q2 23	$0.12	$1.02	+750.0%	—	$404.5M	—
Q1 23	$0.11	$0.1	-9.1%	—	$399.5M	—
Q4 22	$0.11	$0.13	+18.2%	—	$399.7M	—
Q3 22	$0.08	$0.07	-12.5%	—	$391.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.13	—	—	$1.7B	—
FY24	—	$0.26	—	—	$1.7B	—
FY23	—	$1.34	—	—	$1.6B	—
FY22	—	$0.26	—	—	$1.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$959.9M	$995.8M	$1B	$1.2B	$1.2B	$1.3B	$1.5B	$1.6B	$1.7B	$1.7B
YoY change	+7.29%	+3.74%	+5.13%	+10.1%	+7.72%	+4%	+17.6%	+7.26%	+2.72%	+2.42%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	959.9M	995.8M	1B	1.2B	1.2B	1.3B	1.5B	1.6B	1.7B	1.7B
Cost of revenue	721.1M	742.9M	760.5M	863.8M	1B	1.1B	1.2B	1.2B	1.3B	1.2B
Gross profit	238.8M	252.9M	286.4M	288.4M	214.6M	228M	331M	392.5M	417M	464.1M
Gross margin	24.9%	25.4%	27.4%	25%	17.3%	17.7%	21.8%	24.1%	24.9%	27.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	49.8M	48.6M	47M	51.5M	49.9M	57.5M	64.1M	69.9M	84.3M	85.1M
Operating expenses	57.4M	57.6M	59.1M	65.5M	72.6M	79.2M	81.6M	90.2M	114.7M	115.8M
Operating income	175.4M	188.8M	220.6M	216.2M	132M	135.7M	235.1M	287M	282.9M	322.4M
Operating margin	18.3%	19%	21.1%	18.8%	10.6%	10.5%	15.5%	17.6%	16.9%	18.8%
Non-operating income, net	51.5M	70.3M	129M	142.7M	136M	197.9M	20.7M	352.7M	21.9M	259.6M
Pretax income	105.8M	132.4M	222.2M	203.4M	71.5M	162.4M	92.9M	476.6M	96.8M	404.6M
Income tax	11.6M	-240K	688K	3.8M	2.5M	1.4M	349K	2.1M	879K	835K
Net income	320.4M	132.7M	221.5M	199.6M	69M	161M	92.6M	474.5M	95.9M	403.7M
Net margin	33.4%	13.3%	21.2%	17.3%	5.56%	12.5%	6.1%	29.2%	5.73%	23.6%
EBITDA	655.2M	658.5M	658M	877.4M	775.7M	836.2M	919.6M	1B	998.6M	1B
EPS	1.09	0.44	0.74	0.63	0.2	0.49	0.26	1.34	0.26	1.13
Diluted EPS	1.08	0.44	0.74	0.63	0.2	0.48	0.26	1.34	0.26	1.13

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	431.9M	433.1M	425.8M	425.4M
Cost of revenue	—	—	—	—	—	—	—	—	317M	311.8M	315.6M	307M
Gross profit	—	—	—	—	—	—	—	—	114.8M	121.3M	110.2M	118.4M
Gross margin	—	—	—	—	—	—	—	—	26.6%	28%	25.9%	27.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	22.7M	22.9M	19.4M	18.7M
Operating expenses	—	—	—	—	—	—	—	—	29.7M	30.9M	28.8M	31.7M
Operating income	—	—	—	—	—	—	—	—	78.1M	85.9M	78.1M	83.2M
Operating margin	—	—	—	—	—	—	—	—	18.1%	19.8%	18.3%	19.6%
Non-operating income, net	7.4M	5.3M	19.7M	3M	-3.4M	2.6M	50.5M	247K	12.3M	196.7M	171.4M	35.9M
Pretax income	—	—	—	—	—	—	—	—	43.5M	238.3M	203.4M	74.1M
Income tax	—	—	—	—	—	—	—	—	382K	37K	455K	429K
Net income	—	—	—	—	—	—	—	—	43.1M	238.3M	202.9M	73.7M
Net margin	—	—	—	—	—	—	—	—	9.99%	55%	47.6%	17.3%
EBITDA	—	—	—	—	—	—	—	—	268.8M	264.3M	264.9M	252.7M
EPS	0.1	0.1	0.13	0.08	0.06	-0.02	0.23	0.11	0.12	0.67	0.58	0.21
Diluted EPS	0.1	0.1	0.13	0.08	0.06	-0.02	0.23	0.11	0.12	0.67	0.57	0.21

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	9.7B	10.3B	10.6B	13.3B	11.3B	18B	12.5B	12.6B	14.3B	12.1B	12.4B
Enterprise value	13.1B	14B	14B	18.2B	16.5B	23.6B	18.1B	18.6B	20.3B	18.1B	17.8B
Shares outstanding	265.4M	267M	268.2M	285.2M	294.5M	300.3M	321.7M	328.8M	329.3M	330.3M	330.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	30.2	77.5	48	66.7	164.1	111.9	134.6	26.5	149.1	30	21.4
P/S	10.1	10.3	10.1	11.6	9.12	14	8.21	7.73	8.55	7.08	7.04
P/B	2.42	2.72	2.73	3.02	2.75	3.77	2.52	2.54	3.2	2.92	3.75
EV/EBITDA	20	21.2	21.3	20.8	21.3	28.2	19.7	18.5	20.3	17.3	17.1
EV/Sales	13.6	14	13.4	15.8	13.3	18.3	12	11.4	12.1	10.6	10.1
Earnings yield	3.31%	1.29%	2.09%	1.5%	0.61%	0.89%	0.74%	3.77%	0.67%	3.33%	4.67%
FCF yield	4.55%	3.82%	4.17%	3.35%	3.8%	2.76%	4.69%	4.13%	4.23%	5.07%	6.27%
PEG	—	—	—	—	—	—	—	—	—	—	0.24

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	24.9%	25.4%	27.4%	25%	17.3%	17.7%	21.8%	24.1%	24.9%	27.1%	27.8%
Operating margin	18.3%	19%	21.1%	18.8%	10.6%	10.5%	15.5%	17.6%	16.9%	18.8%	20.2%
Net margin	33.4%	13.3%	21.2%	17.3%	5.56%	12.5%	6.1%	29.2%	5.73%	23.6%	29.6%
ROE	8%	3.51%	5.69%	4.53%	1.68%	3.37%	1.87%	9.58%	2.15%	9.73%	13.7%
ROA	4.17%	1.72%	2.87%	2.07%	0.72%	1.49%	0.84%	4.17%	0.88%	3.81%	2.24%
ROIC	2.11%	2.53%	3.03%	2.28%	1.37%	1.3%	2.21%	2.61%	2.68%	3.17%	3.3%
Return on tangible assets	4.17%	1.72%	2.87%	2.07%	0.72%	1.49%	0.84%	4.17%	0.88%	3.81%	5.44%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.31	1.05	0.68	0.29	0.32	0.09	0.11	0.31	0.39	0.2	0.18
Quick ratio	0.14	0.07	0.68	0.18	0.32	0.09	0.11	0.31	0.39	0.2	0.17
Debt / equity	0.85	0.97	0.91	1.11	1.26	1.17	1.15	1.21	1.35	1.45	1.56
Debt / assets	0.44	0.47	0.46	0.51	0.54	0.52	0.51	0.53	0.55	0.57	0.58
Net debt / EBITDA	5.19	5.57	5.11	5.58	6.67	6.7	6.17	5.97	6.02	5.72	5.7
Interest coverage	1.86	2.03	2.66	2.19	1.35	1.87	1.57	3.64	1.47	3.06	3.85
Effective tax rate	10.9%	0%	0.31%	1.89%	3.56%	0.89%	0.38%	0.44%	0.91%	0.21%	0.23%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.62	3.73	3.9	4.04	4.21	4.3	4.72	4.95	5.08	5.18	5.39
EPS (basic)	1.09	0.44	0.74	0.63	0.2	0.49	0.26	1.34	0.26	1.13	1.13
EPS (diluted)	1.08	0.44	0.74	0.63	0.2	0.48	0.26	1.34	0.26	1.13	1.58
Book value per share	15.1	14.2	14.5	15.5	14	15.9	15.4	15.1	13.5	12.6	9.01
FCF per share	1.66	1.47	1.65	1.56	1.46	1.66	1.82	1.58	1.84	1.86	1.95
Cash per share	0.01	0.01	0.69	0.03	0	0	0	0.01	0	0	0.01
Capex per share	—	—	—	—	—	—	—	—	—	0.87	0.8

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	16.9%	15%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	32%	29.1%
Payout ratio	97.6%	249.9%	156.2%	194%	614.1%	272.1%	527.1%	114.8%	587.6%	141.9%	109.2%
Dividend yield	3.23%	3.22%	3.26%	2.91%	3.74%	2.43%	3.92%	4.33%	3.94%	4.73%	1.71%

Yield

1.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.145

ex-dividend Sep 15, 2026

Payout ratio

109%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.145
Aug 17, 2026	$0.145
Jul 17, 2026	$0.145

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	$431.9M	$433.1M	$425.8M	$425.4M
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.1M	2M	185.2M	8.1M	1.4M	967K	1.2M	2.9M	1.3M	1.2M
Receivables	—	—	—	—	—	—	—	—	—	—
Inventory	342.3M	588.6M	0	69.8M	—	—	—	—	—	—
Total current assets	384.2M	629.9M	251.2M	186.9M	182.2M	55.3M	84.9M	263.7M	283.3M	186.9M
Property, plant & equipment	—	—	—	204.2M	200.9M	197.5M	194.1M	190.6M	187M	187.6M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	7.7B	7.7B	7.7B	9.6B	9.6B	10.8B	11B	11.4B	10.9B	10.6B
Accounts payable	103.8M	103M	76.3M	90M	111M	137M	153.2M	141.3M	115.1M	142.1M
Short-term debt	21.4M	321.8M	101.1M	316.6M	218M	249.5M	328M	412.7M	299.3M	471.4M
Total current liabilities	293M	599.9M	369.6M	639M	568.5M	645.7M	751.8M	848.9M	726.7M	924M
Long-term debt	3.4B	3.3B	3.4B	4.6B	5B	5.4B	5.3B	5.6B	5.7B	5.5B
Total liabilities	3.7B	3.9B	3.8B	5.2B	5.5B	6B	6.1B	6.4B	6.4B	6.5B
Shareholders' equity	4B	3.8B	3.9B	4.4B	4.1B	4.8B	4.9B	5B	4.5B	4.1B
Total debt	3.4B	3.7B	3.5B	4.9B	5.2B	5.6B	5.7B	6B	6B	6B
Net debt	3.4B	3.7B	3.4B	4.9B	5.2B	5.6B	5.7B	6B	6B	6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6M	2.9M	2.1M	2.8M	2.3M	1.3M	1.3M	1.5M	1.2M	1.2M	1.3M	1.2M
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	54.4M
Total current assets	241.8M	263.7M	267.3M	276.2M	315.6M	283.3M	399.2M	178.6M	183M	186.9M	188.4M	207.8M
Property, plant & equipment	191.5M	190.6M	189.7M	188.8M	187.9M	187M	186.1M	185.1M	184.2M	187.6M	186.6M	185.6M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	11.4B	11.4B	11.2B	11.1B	11.1B	10.9B	10.7B	10.6B	10.6B	10.6B	10.3B	10.3B
Accounts payable	126M	141.3M	119.7M	120.8M	119.2M	115.1M	93.3M	108.4M	126.3M	142.1M	107.1M	128.5M
Short-term debt	406.7M	412.7M	417.1M	431.6M	336.8M	299.3M	284.6M	250.2M	355.7M	471.4M	179.6M	491M
Total current liabilities	828.8M	848.9M	803.7M	844.6M	755.1M	726.7M	648.6M	658.2M	792.5M	924M	562.2M	922.2M
Long-term debt	5.5B	5.6B	5.5B	5.5B	5.7B	5.7B	5.7B	5.7B	5.7B	5.5B	5.7B	5.5B
Total liabilities	6.4B	6.4B	6.3B	6.4B	6.5B	6.4B	6.4B	6.4B	6.5B	6.5B	6.2B	6.4B
Shareholders' equity	5.1B	5B	4.9B	4.7B	4.6B	4.5B	4.4B	4.3B	4.2B	4.1B	4.1B	3.8B
Total debt	5.9B	6B	5.9B	6B	6B	6B	6B	6B	6B	6B	5.8B	6B
Net debt	5.9B	6B	5.9B	6B	6B	6B	6B	6B	6B	6B	5.8B	6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	320.4M	132.7M	221.5M	199.6M	69M	161M	92.6M	474.5M	95.9M	403.7M
Depreciation & amortization	425.6M	436.5M	435.7M	507.9M	618.6M	619.8M	679.6M	691.8M	695.5M	680M
Stock-based compensation	13.4M	12.9M	14.2M	24.3M	19.6M	22.1M	27.5M	32.9M	32.6M	26.5M
Change in working capital	-83M	-26.6M	22.2M	-6.2M	-46.8M	-22M	-3.3M	-36.4M	-35.9M	-22.3M
Operating cash flow	712.2M	575.9M	695.4M	736M	672.6M	800.1M	828.1M	1.2B	815.2M	902.9M
Capital expenditure	—	—	—	—	—	—	—	—	—	-288.9M
Investing cash flow	-43.2M	-123.5M	-135.8M	-216.6M	-84.9M	-631K	-276.6M	-143.2M	-76.9M	-484M
Dividends paid	-312.6M	-331.5M	-346.1M	-387.1M	-423.6M	-438M	-488M	-544.6M	-563.3M	-572.7M
Share repurchases	0	0	-20M	0	-19.8M	0	-49M	-25.6M	0	-117.8M
Financing cash flow	-429.3M	-111.8M	-260.1M	880.4M	-152.6M	612.5M	111.2M	-538.9M	-599.9M	-750.4M
Net change in cash	239.7M	340.6M	299.5M	1.4B	435.1M	1.4B	662.8M	490.5M	138.4M	-331.5M
Free cash flow	440.4M	392.8M	443.5M	446.4M	430.2M	497.4M	584.1M	520.3M	605.2M	613.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	35.4M	36M	46.3M	31M	24.1M	-5.5M	82.1M	40.2M	43.1M	238.3M	202.9M	73.7M
Depreciation & amortization	171.2M	175M	174.2M	175.2M	174.3M	171.8M	168.5M	170.6M	172.9M	168.1M	164.6M	163.6M
Stock-based compensation	7.1M	10.1M	7.3M	9.4M	9.2M	6.8M	7.5M	8.8M	3.1M	7.1M	9.6M	6.9M
Change in working capital	-14.9M	-217K	-49.2M	18.9M	-5.3M	-306K	-61.4M	6.7M	4.8M	27.6M	-94.5M	45.1M
Operating cash flow	205.2M	220.2M	189M	239.5M	206.1M	180.6M	205.3M	235.2M	234.9M	261.4M	128.7M	262.2M
Capital expenditure	—	—	—	—	—	—	—	—	-71.3M	-75.8M	-44.9M	-65.9M
Investing cash flow	-22.5M	-57.1M	3.2M	-8.1M	-66.7M	-5.3M	-118.8M	-14.7M	-131.5M	-77.1M	-45.7M	-67.9M
Dividends paid	-139.6M	-139.4M	-139.5M	-141.2M	-141.2M	-141.4M	-141.9M	-143.7M	-143.7M	-143.5M	-142.5M	-142.9M
Share repurchases	-25M	-78K	—	—	—	0	—	—	-25M	-92.8M	-100M	-200.3M
Financing cash flow	-46M	-143.7M	-188.9M	-115.8M	-419.9M	-191.9M	-176.1M	-164.5M	-127M	-263.8M	-414.5M	-84.8M
Net change in cash	136.7M	19.3M	3.3M	115.7M	-280.6M	-16.7M	-89.6M	56M	-23.6M	-79.5M	-331.5M	109.5M
Free cash flow	122.6M	141.1M	110.5M	164.8M	156M	173.9M	94.3M	170.3M	163.7M	185.6M	83.9M	196.3M

Date	Ratio
May 6, 1993	2:1
Aug 1, 1983	3:2

UDR Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history