Avalonbay Communities Inc. (AVB) intrinsic value & 10-year financials
Avalonbay Communities Inc. (AVB) has a Graham intrinsic value of $51.97 per share. Over the last 10 fiscal years revenue grew 2.6% a year to $7.0M, with an average return on invested capital of 9.0%.
- Graham intrinsic value
- $51.97
- Revenue (FY2025)
- $7.0M
- Revenue growth (10-yr CAGR)
- 2.6%
- ROIC (10-yr avg)
- 9.0%
- Free cash flow (FY2025)
- —
AVB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.0M | $1.1B | $7.40 | — | 28698.5% | 9.8% |
| FY2024 | $7.1M | $1.1B | $7.60 | — | 27883.5% | 10.0% |
| FY2023 | $7.7M | $928.8M | $6.56 | — | 24433.4% | 9.7% |
| FY2022 | $6.3M | $1.1B | $8.12 | — | 27882.3% | 9.3% |
| FY2021 | $3.1M | $1.0B | $7.19 | — | 49114.1% | 8.2% |
| FY2020 | $3.8M | $827.7M | $5.89 | — | 40513.0% | 8.5% |
| FY2019 | $5.0M | $786.1M | $5.63 | $1.3B | 32806.7% | 8.9% |
| FY2018 | $3.6M | $974.5M | $7.05 | $1.3B | 43101.5% | 8.7% |
| FY2017 | $4.1M | $876.9M | $6.35 | $1.2B | 35931.2% | 8.6% |
| FY2016 | $5.6M | $1.0B | $7.52 | $1.1B | 25195.5% | 8.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AvalonBay Communities has demonstrated mature, steady growth, with revenue compounding at 2.6% annually over the past decade.
AvalonBay Communities returns on capital have been average, hovering around 9.0% ROIC over the decade.
AvalonBay Communities has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AvalonBay Communities is modeled at -0.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $51.97 per share.