APARTMENT INVESTMENT & MANAGEMENT CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data APARTMENT INVESTMENT & MANAGEMENT CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	996	1,005	132	144	151	170	190	120	138	138
General and administrative	46.8	43.7	5.77	7.06	10.5	33.2	39.7	32.9	32.8	34
Operating expenses	749	811	109	129	166	185	270	143	178	308
Operating income	247	194		15.1	-14.4	-15.6	119	113	118
Interest expense	196	195	19.6	18.6	27.5	52.9	73.8	26.9	59.4	59.4
Interest income	7.8	8.33	0.01	0.03	0.11	2.28	4.05	9.72	9.64	8.65
Other non-operating income	6.07	7.69	0.08	-2.14	-3.6	3.21	-12.8	-7.66	-5.58	-4.19
Pre-tax income	464	316	3.67	-3.19	-15.9	-18.6	109	-194	-135	-15.8
Income tax	-18.8	-30.8	0.26	-3.3	-10.1	-13.6	17.3	-12.8	-11.1	-57.6
Income from continuing operations								-181	-124	41.7
Net income to minority interests	52.9	31.3	-0.01	-0.02	-0
Net income	430	316	3.24	0.3	-5.04	-5.91	74.6	-166	-104	547
EBITDA	580	560		79.1	63.6	69.1	278	171	195
EPS, basic	0.10	0.07	0.16	0.00	-0.24	-0.32	0.50	-1.16	-0.75	3.95
EPS, diluted	0.10	0.07	0.16	0.00	-0.24	-0.32	3.87	-1.16	-0.75	3.87
Shares, basic (weighted)	4,286	4,165	18.8	18.8	18.8	18.9	138	144	138	138
Shares, diluted (weighted)	4,297	4,178	18.8	18.8	18.8	18.9	141	144	138	141
Dividend per share	0.05	0.05	12.00	25.19	375.15		0.02	0.00	0.00	2.83

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	61.2	76.8	36.9	5.4	290	233	206	123	141	395
Lease right-of-use assets				61.9	5.6	5.1	6.7	6.2	4.7	3.5
Goodwill	37.8	37.8	37.8	37.8
Intangible assets					7.26	3.27	14.2	13.5	13.2	12.3
Total assets	6,233	6,079	6,190	1,260	1,840	2,434	2,181	2,089	1,957	1,676
Total liabilities	4,185	4,322	4,325	742	1,277	1,838	1,389	1,498	1,645	1,123
Total debt	3,900		4,076	559	982	1,181	1,048	1,148	830	457
Paid-in capital	4,052	3,900	3,516	0	515	522	496	465	425	429
Retained earnings					-16.8	-22.8	49.9	-116	-303	-68.7
Other comprehensive income	1.01	3.6	4.79	0	-16.8
Shareholders' equity	1,794	1,663	1,699	513	500	501	548	350	123	362
Total equity	1,945	284	227	514	559	562	625	420	169	395
Total liabilities and equity	6,233	6,079	6,190	1,260	1,840	2,434	2,181	2,089	1,957	1,676
Shares outstanding	4,311	4,319	18.3	0	18.9	19	147	141	136	140

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	483	347	3.41	0.11	-5.77	-4.98	92.2	-157	-96	593
Depreciation and amortization	333	366	49.4	64	78	84.7	159	58.1	77.1	58.3
Stock-based compensation	7.63	7.88	8.55	8.15	1.07	5.27	7.47	9.22	6.49	5.9
Change in payables	-5.16	-15.4	0.31	-2.55	-1.23
Cash from operations	377	392	53.5	57.9	47.8	12.6	204	50.5	47	8.09
Capital expenditures	-347	-358	-37.8	-39.3	-23.9	-178	-238	-272	-160	-99.6
Cash from investing	-99.1	13	-37.8	-413	-129	-271	-121	-260	30.6	875
Stock issued	0	0
Share buybacks	0	0	-374	-20.7			-23.5	-46.8	-38.9	-0.26
Dividends paid	-206	-225	-238	-241			-3.04			-416
Cash from financing	-284	-394	-15.9	360	370	205	-98.3	119	-43.9	-649
Net change in cash	10.5	15.5	-0.28	5.32	289	-54.2	-14.8	-90.5	33.7	234
Free cash flow	29.9	34	15.6	18.6	24	-165	-33.3	-222	-113	-91.5
Interest paid	200	196	19.3	17.7	22.2	43.8	45.2	32.8	47.6	60.5
Income taxes paid	2.15	7.4	0.28	1.77	9.22	2.94	22.9	1.71	0.93	0.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to January 31, 2026; growth uses fiscal years. Valuation uses the share price of $2.18 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	3.7%	Pre-tax income / revenue.
Net margin	454.4%	Net income / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-10.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-1.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	94.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y	0.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-82.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-65.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-29.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share CAGR, 3y	421.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-62.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	194.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-12.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-6.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-14.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	49.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.94	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.87	Revenue / diluted weighted shares.
Cash per share	$2.28	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$316.6M	Share price x shares outstanding.
Enterprise value	-$3.7M	Market cap + total debt - cash - short-term investments.
P/E	0.57x	Market cap / net income. Only when net income is positive.
P/S	2.60x	Market cap / revenue.
Earnings yield	174.8%	Net income / market cap (the inverse of P/E).

What was APARTMENT INVESTMENT & MANAGEMENT CO's revenue in fiscal 2025?

APARTMENT INVESTMENT & MANAGEMENT CO reported revenue of $138.5M for fiscal 2025, 0.6% higher than the year before.

Was APARTMENT INVESTMENT & MANAGEMENT CO profitable in fiscal 2025?

Yes. Net income was $547.2M, a net margin of 395.1%.

How much free cash flow did APARTMENT INVESTMENT & MANAGEMENT CO generate in fiscal 2025?

Cash from operations of $8.1M minus capital expenditures of $99.6M left free cash flow of -$91.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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