ESS Essex Property Trust
FY2025 10-K
Essex Property Trust (ESS) filed its fiscal year 2025 10-K annual report with the SEC on Feb 20, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Ownership, operation, acquisition, development of West Coast apartment communities (63,077 apartment homes across 259 communities)
- • New joint venture Wesco VII with State of Wisconsin Investment Board, $100M equity commitment for multifamily projects
Management Discussion & Analysis
- • Revenue $1.878B, up 6.4% YoY; 2025 Same-Properties revenues $1.643B, up 3.3% ($52.6M)
- • Operating expenses rose: property expenses +7.7% ($25.3M), real estate taxes +6.3% ($12.2M), depreciation +4.7% ($27.3M)
Risk Factors
- • California Proposition 13 repeal/amendment risks with potential for substantial retroactive property tax increases on California properties
- • Economic downturn in California and Washington markets risking reduced apartment demand, as Company operates primarily in these high-tax, regulated states
Financial SummaryXBRL
Revenue
$9M
Net Income
$670M
Gross Margin
14060.1%
Operating Margin
9586.6%
Net Margin
7138.5%
ROE
12.1%
Total Assets
$13.2B
EPS (Diluted)
$10.40
Operating Cash Flow
$1.1B
Source: XBRL data from Essex Property Trust FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on Essex Property Trust
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.