Stock AMH AMERICAN HOMES 4 RENT
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Financials American Homes 4 Rent

Equities

AMH

US02665T3068

Residential REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
36.41 USD +1.82% Intraday chart for American Homes 4 Rent +3.23% +1.25%
Apr. 10 RBC Adjusts Price Target on American Homes 4 Rent to $40 From $39, Keeps Outperform Rating MT
Mar. 25 North American Morning Briefing : Tech in Focus on -2- DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,882 9,488 14,583 10,653 13,020 13,338 - -
Enterprise Value (EV) 1 10,678 12,168 18,415 15,100 17,422 17,736 17,890 17,896
P/E ratio 90.4 x 107 x 106 x 42.5 x 35.6 x 58.6 x 53.7 x 51.8 x
Yield 0.76% 0.67% 0.92% 2.39% 2.45% 2.78% 2.97% 3.11%
Capitalization / Revenue 6.89 x 8.02 x 11.2 x 7.15 x 8.02 x 7.76 x 7.36 x 7.03 x
EV / Revenue 9.34 x 10.3 x 14.1 x 10.1 x 10.7 x 10.3 x 9.87 x 9.44 x
EV / EBITDA 18.3 x 21.3 x 27.9 x 20.6 x 21.5 x 19.9 x 18.7 x 17.4 x
EV / FCF - - 33.9 x 25.2 x 28.8 x 25.9 x 24.5 x -
FCF Yield - - 2.95% 3.97% 3.47% 3.86% 4.09% -
Price to Book 1.46 x 1.64 x 2.43 x 1.64 x 1.88 x 2.11 x 1.99 x 2.09 x
Nbr of stocks (in thousands) 300,711 316,263 334,396 353,445 362,056 366,322 - -
Reference price 2 26.21 30.00 43.61 30.14 35.96 36.41 36.41 36.41
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,143 1,183 1,304 1,491 1,624 1,719 1,813 1,897
EBITDA 1 582.9 570.8 660.4 734.2 809.3 890.1 958.9 1,027
EBIT 1 253.6 227.7 287.5 331.2 352.7 420.4 487.1 533.9
Operating Margin 22.18% 19.25% 22.05% 22.22% 21.72% 24.46% 26.87% 28.15%
Earnings before Tax (EBT) 1 156.3 154.8 210.6 310 432.1 226.4 279.8 342.8
Net income 1 85.91 85.25 135.3 250.8 366.2 228.3 252.2 279.6
Net margin 7.51% 7.21% 10.38% 16.82% 22.56% 13.28% 13.91% 14.74%
EPS 2 0.2900 0.2800 0.4100 0.7100 1.010 0.6218 0.6779 0.7022
Free Cash Flow 1 - - 543.1 599.9 604.5 684 731 -
FCF margin - - 41.65% 40.25% 37.23% 39.8% 40.32% -
FCF Conversion (EBITDA) - - 82.24% 81.7% 74.7% 76.84% 76.23% -
FCF Conversion (Net income) - - 401.41% 239.21% 165.07% 299.55% 289.87% -
Dividend per Share 2 0.2000 0.2000 0.4000 0.7200 0.8800 1.012 1.081 1.132
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 339.6 338.1 356.1 361.9 391.6 380.9 397.7 395.5 421.7 408.7 420.4 420.1 443 434.9 448.7
EBITDA 1 164.4 175.9 170.9 177.3 188.4 195.4 196.9 202.4 205.5 212 217.4 218.7 221.3 232.5 234.5
EBIT 1 69.89 78.7 70.9 72.92 79.04 87.87 89.26 89.19 90.67 96.23 101 100.3 103.4 115.6 121.3
Operating Margin 20.58% 23.28% 19.91% 20.15% 20.18% 23.07% 22.44% 22.55% 21.5% 23.55% 24.03% 23.87% 23.34% 26.58% 27.03%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 1 36.87 48.1 55.94 56.59 50.72 87.54 117.5 98.03 74.11 76.62 59.4 58.92 59.77 66.87 64.78
Net margin 10.86% 14.23% 15.71% 15.64% 12.95% 22.98% 29.54% 24.78% 17.57% 18.75% 14.13% 14.03% 13.49% 15.38% 14.44%
EPS 2 0.1100 0.1400 0.1600 0.1600 0.1400 0.2500 0.3200 0.2700 0.2000 0.2100 0.1524 0.1496 0.1554 0.1726 0.1773
Dividend per Share 2 0.1000 0.1000 0.1800 0.1800 0.1800 0.1800 0.2200 0.2200 0.2200 0.2200 0.2550 0.2550 0.2550 0.2550 0.2714
Announcement Date 11/4/21 2/24/22 5/5/22 8/4/22 11/3/22 2/23/23 5/4/23 7/27/23 11/2/23 2/22/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,796 2,680 3,832 4,447 4,402 4,399 4,552 4,558
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.796 x 4.696 x 5.803 x 6.056 x 5.44 x 4.942 x 4.747 x 4.438 x
Free Cash Flow 1 - - 543 600 605 684 731 -
ROE (net income / shareholders' equity) 1.62% 1.53% 2.28% 4.35% 5.44% 2.94% 3.46% 4.09%
ROA (Net income/ Total Assets) 0.95% 0.91% 1.32% 2.36% 2.95% 1.22% 1.95% 1.89%
Assets 1 9,051 9,347 10,278 10,626 12,432 18,747 12,963 14,796
Book Value Per Share 2 18.00 18.30 17.90 18.40 19.10 17.30 18.30 17.40
Cash Flow per Share 2 - 1.540 1.830 1.660 1.780 2.060 2.260 -
Capex 1 - - - - 1,154 965 830 983
Capex / Sales - - - - 71.09% 56.13% 45.79% 51.85%
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for American Homes 4 Rent

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
36.41 USD
Average target price
39.76 USD
Spread / Average Target
+9.21%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
+1.25% 13.34B
EQUITY RESIDENTIAL Stock Equity Residential
+6.51% 24.68B
INVITATION HOMES INC. Stock Invitation Homes Inc.
+1.79% 21.27B
ESSEX PROPERTY TRUST, INC. Stock Essex Property Trust, Inc.
-0.41% 15.85B
MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
-3.89% 15.08B
SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
-10.90% 14.84B
UDR INC. Stock UDR Inc.
-0.99% 12.48B
EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-14.19% 11.29B
CAMDEN PROPERTY TRUST Stock Camden Property Trust
+0.33% 10.84B
APARTMENT INCOME REIT CORP. Stock Apartment Income REIT Corp.
+10.60% 5.57B
Residential REITs
  1. Stock Market
  2. Equities
  3. AMH Stock
  4. Financials American Homes 4 Rent