How American Homes 4 Rent makes money

Period

FY2025

How does American Homes 4 Rent make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

American Homes 4 Rent Common Shares of Beneficial Interest · FY2025 · year ended 2025-12-31

Revenue$1.9BGross profit$1.9B · 100%Cost of revenue$0 · 0%Operating income$1.8B · 96%Operating expenses$83M · 4%SG&A$83M · 4%Pre-tax income$513M · 28%Other expense$1.3B · 68%Net income$513M · 28%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.