Essex Property Trust

ESS · Real Estate · Market cap $18.1B

Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 29, 2026

Revenue$0.5B +4% year over year

Gross profit$0.3B

Operating profit$0.2B

Net profit$0.1B 23% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	0.5	100%	+4%
Northern California	0.2	40%
Southern California	0.2	40%
Seattle Metro	0.1	20%
Cost of revenue	−0.1	20%
Gross profit	0.3	70% margin	+1pp
G&A	−0	4%	+1pp
Other	−0.2	34%	+0pp
Operating profit	0.2	32% margin	−23pp
Net profit	0.1	23%	−23pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.5	100%	+6%
Seattle Metro	0.3	60%
Non-residential/other, net	0.1	20%
Cost of revenue	−0.1	20%
Gross profit	0.3	70% margin	+0pp
G&A	−0	4%	−3pp
Other	−0.2	34%	+0pp
Operating profit	0.2	32% margin	−35pp
Interest & other costs	−0.1
Net profit	0.1	18%	−49pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.5	100%	+5%
Northern California	0.2	40%	+12%
Southern California	0.2	40%	+1%
Cost of revenue	−0.1	20%
Gross profit	0.3	69% margin	+0pp
G&A	−0	4%	−3pp
Other	−0.1	21%	+0pp
Operating profit	0.2	44% margin	+16pp
Net profit	0.2	36%	+9pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.5	100%	+6%
Northern California	0.2	40%
Southern California	0.2	40%
Cost of revenue	−0.1	20%
Gross profit	0.3	71% margin	+0pp
G&A	−0.1	4%	−1pp
Other	−0	8%	+0pp
Operating profit	0.3	60% margin	+28pp
Net profit	0.2	49%	+27pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 29, 2026	$0.5B	+4%	40%	$0.1B	23%
Q4 FY25	Dec 31, 2025	Feb 20, 2026	$0.5B	+6%	40%	$0.1B	18%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 30, 2025	$0.5B	+5%	40%	$0.2B	36%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 30, 2025	$0.5B	+6%	60%	$0.2B	49%