Question 1

What is Equity Residential's EV/EBITDA ratio?

Accepted Answer

Equity Residential (EQR) EV/EBITDA ratio is 14.8× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Equity Residential?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Equity Residential specifically, the relevant sector benchmark is the current sector median of 15.8×.

Question 5

Is Equity Residential's EV/EBITDA ratio high or low?

Accepted Answer

Equity Residential's EV/EBITDA ratio of 14.8× is below its own 5-year average of 19.8× and below the sector median of 15.8×. That places the current reading at the 6th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Equity Residential's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Equity Residential (EQR) EV/EBITDA ratio has ranged from a low of 4.0× in 2002 to a high of 30.7× in 2022. The 5-year average is 19.8× and the 5-year median is 18.6×.

Question 7

What was Equity Residential's EV/EBITDA ratio in 2025?

Accepted Answer

Equity Residential (EQR) EV/EBITDA ratio at the end of 2025 was 14.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Equity Residential's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$23.90B	$2.34B	14.0×	-5.6×	Dec 31, 2025
2024	$27.34B	$1.83B	19.5×	+2.1×	Dec 31, 2024
2023	$23.19B	$1.77B	17.4×	-0.2×	Dec 31, 2023
2022	$22.28B	$1.70B	17.7×	-11.4×	Dec 31, 2022
2021	$33.93B	$1.46B	29.1×	+10.2×	Dec 31, 2021
2020	$22.05B	$1.61B	18.9×	-3.7×	Dec 31, 2020
2019	$30.03B	$1.74B	22.6×	+2.3×	Dec 31, 2019
2018	$24.32B	$1.64B	20.2×	-0.2×	Dec 31, 2018
2017	$23.43B	$1.58B	20.4×	+1.0×	Dec 31, 2017
2016	$23.51B	$1.67B	19.4×	-0.2×	Dec 31, 2016
2015	$29.68B	$2.07B	19.6×	-2.1×	Dec 31, 2015
2014	$26.01B	$1.69B	21.7×	+1.9×	Dec 31, 2014
2013	$18.67B	$1.48B	19.9×	+1.0×	Dec 31, 2013
2012	$17.59B	$1.35B	18.9×	-3.0×	Dec 31, 2012
2011	$16.87B	$1.20B	21.8×	-1.3×	Dec 31, 2011
2010	$14.69B	$1.05B	23.1×	+6.7×	Dec 31, 2010
2009	$9.24B	$1.12B	16.5×	+0.7×	Dec 31, 2009
2008	$8.06B	$1.12B	15.8×	+4.3×	Dec 31, 2008
2007	$9.81B	$1.68B	11.5×	-8.7×	Dec 31, 2007
2006	$14.72B	$1.12B	20.1×	+1.3×	Dec 31, 2006
2005	$11.20B	$989.90M	18.9×	+2.4×	Dec 31, 2005
2004	$10.14B	$1.00B	16.4×	+3.3×	Dec 31, 2004
2003	$8.05B	$1.01B	13.2×	+9.2×	Dec 31, 2003
2002	$6.63B	$3.01B	4.0×	-1.2×	Dec 31, 2002
2001	$7.70B	$2.55B	5.3×	—	Dec 31, 2001


Public Storage (PSA)	17.7×
Regency Centers (REG)	17.7×
CBRE Group (CBRE)	17.2×
Invitation Homes (INVH)	16.1×
AvalonBay Communities (AVB)	16.1×
SBA Communications (SBAC)	16.0×
Mid-America Apartment Communities (MAA)	15.9×
Tanger (SKT)	15.7×
Essex Property Trust (ESS)	15.5×
Kimco Realty (KIM)	15.1×
UDR (UDR)	15.0×
STAG Industrial (STAG)	14.8×
NNN REIT (NNN)	14.7×
Universal Health Realty Income Trust (UHT)	14.7×
Arbor Realty Trust (ABR)	14.1×
Extra Space Storage (EXR)	13.0×
Federal Realty Investment Trust (FRT)	12.8×
Medical Properties Trust (MPT)	12.8×
BXP (BXP)	12.6×
Camden Property Trust (CPT)	12.4×
Healthpeak Properties (DOC)	11.7×
VICI Properties (VICI)	11.6×
Simon Property Group (SPG)	11.5×
Apartment Investment and Management (AIV)	8.8×
Host Hotels & Resorts (HST)	8.1×

EV/EBITDA for Equity Residential (EQR)

EV/EBITDA daily chart for Equity Residential (EQR)

Historical EV/EBITDA for Equity Residential (EQR) from 2001 to 2025

About EV/EBITDA at Equity Residential (EQR)

Equity Residential EV/EBITDA by Year

Equity Residential EV/EBITDA 2025: 14.0×

Equity Residential EV/EBITDA 2024: 19.5×

Equity Residential EV/EBITDA 2023: 17.4×

Equity Residential EV/EBITDA 2022: 17.7×

Equity Residential EV/EBITDA 2021: 29.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Equity Residential (EQR) Key Financials

EV/EBITDA daily chart for Equity Residential (EQR)

Historical EV/EBITDA for Equity Residential (EQR) from 2001 to 2025

About EV/EBITDA at Equity Residential (EQR)

Equity Residential EV/EBITDA by Year

Equity Residential EV/EBITDA 2025: 14.0×

Equity Residential EV/EBITDA 2024: 19.5×

Equity Residential EV/EBITDA 2023: 17.4×

Equity Residential EV/EBITDA 2022: 17.7×

Equity Residential EV/EBITDA 2021: 29.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Equity Residential's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Equity Residential?

+Is Equity Residential's EV/EBITDA ratio high or low?

+What is Equity Residential's historical EV/EBITDA ratio range?

+What was Equity Residential's EV/EBITDA ratio in 2025?

+Why does Equity Residential's EV/EBITDA ratio change over time?

Equity Residential (EQR) Key Financials