UDR financial statements

The full income statement, balance sheet, and cash-flow statement for UDR Inc. (UDR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	11.4M YoY+36.6%	8.32M YoY+21.5%	6.84M YoY+36.3%	5.02M YoY-17.7%	6.10M YoY+20.4%
Selling, general & administrative	85.1M YoY+0.9%	84.3M YoY+20.6%	69.9M YoY+9.0%	64.1M YoY+11.5%	57.5M YoY+15.3%
General & administrative	85.1M YoY+0.9%	84.3M YoY+20.6%	69.9M YoY+9.0%	64.1M YoY+11.5%	57.5M YoY+15.3%
Operating income	554M YoY+94.5%	285M YoY-55.2%	635M YoY+153.2%	251M YoY-6.4%	268M YoY+7.6%
Interest expense	197M YoY+0.5%	196M YoY+8.2%	181M YoY+16.0%	156M YoY-16.3%	186M YoY-8.1%
Other non-operating income	19.2M YoY+255.4%	-12.3M YoY-169.5%	17.8M YoY+356.2%	-6.93M YoY-146.0%	15.1M YoY+140.4%
Equity-method income	28.4M YoY+40.3%	20.2M YoY+331.2%	4.69M YoY-5.1%	4.95M YoY-92.5%	65.6M YoY+248.4%
Pre-tax income	405M YoY+318.1%	96.8M YoY-79.7%	477M YoY+412.9%	92.9M YoY-42.8%	162M YoY+127.1%
Income tax	835K YoY-5.0%	879K YoY-58.3%	2.11M YoY+503.4%	349K YoY-75.7%	1.44M YoY-43.5%
	378M YoY+321.6%	89.6M YoY-79.8%	444M YoY+411.2%	86.9M YoY-42.1%	150M YoY+133.4%
Net income to non-controlling interest	46.0K YoY+0.0%	46.0K YoY+48.4%	31.0K YoY-26.2%	42.0K YoY-59.6%	104K YoY-35.4%
Preferred dividends	4.84M YoY+0.1%	4.83M YoY-0.3%	4.85M YoY+9.9%	4.41M YoY+4.3%	4.23M YoY-0.0%
Net income to common	373M YoY+340.0%	84.8M YoY-80.7%	440M YoY+432.7%	82.5M YoY-43.4%	146M YoY+142.8%
	$1.13 YoY+334.6%	$0.26 YoY-80.6%	$1.34 YoY+415.4%	$0.26 YoY-45.8%	$0.48 YoY+140.0%
EPS (basic)	$1.13 YoY+334.6%	$0.26 YoY-80.6%	$1.34 YoY+415.4%	$0.26 YoY-46.9%	$0.49 YoY+145.0%
	330M YoY+0.3%	329M YoY+0.2%	329M YoY+2.2%	322M YoY+7.1%	300M YoY+2.0%
	331M YoY+0.3%	330M YoY+0.3%	329M YoY+2.0%	323M YoY+7.0%	302M YoY+2.3%
Dividends per share	$1.72 YoY+1.2%	$1.70 YoY+3.7%	$1.64 YoY+7.9%	$1.52 YoY+4.8%	$1.45 YoY+0.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	1.22M YoY-7.8%	1.33M YoY-54.6%	2.92M YoY+144.9%	1.19M YoY+23.4%	967K YoY-31.4%
	10.6B YoY-2.7%	10.9B YoY-4.2%	11.4B YoY+3.0%	11.0B YoY+2.4%	10.8B YoY+11.8%
Operating lease right-of-use	188M YoY+0.3%	187M YoY-1.9%	191M YoY-1.8%	194M YoY-1.7%	197M YoY-1.7%
Intangible assets	21.6M YoY-30.3%	31.0M YoY-32.3%	45.9M YoY+13.8%	40.3M YoY-35.7%	62.7M YoY+67.5%
	6.46B YoY+0.3%	6.44B YoY+0.2%	6.42B YoY+5.3%	6.10B YoY+1.6%	6.00B YoY+8.7%
Long-term debt	5.82B YoY-0.1%	5.83B YoY+0.5%	5.80B YoY+5.7%	5.49B YoY+1.4%	5.41B YoY+8.8%
	3.29B YoY-4.5%	3.44B YoY-13.7%	3.99B YoY-2.6%	4.10B YoY+19.0%	3.44B YoY+6.5%
Common stock	3.28M YoY-0.8%	3.31M YoY+0.6%	3.29M YoY+0.0%	3.29M YoY+3.4%	3.18M YoY+7.2%
Additional paid-in capital	7.48B YoY-1.2%	7.57B YoY+1.1%	7.49B YoY-0.0%	7.49B YoY+8.8%	6.88B YoY+17.1%
Accumulated other comprehensive income	1.66M YoY-54.4%	3.64M YoY-26.0%	4.91M YoY-41.1%	8.34M YoY+295.8%	-4.26M YoY+53.4%
Non-controlling interest	335K YoY+0.0%	335K YoY+59.5%	210K YoY+0.0%	210K YoY-99.3%	31.4M YoY+28.9%
Total equity incl. non-controlling	3.29B YoY-4.5%	3.44B YoY-13.7%	3.99B YoY-2.6%	4.10B YoY+18.0%	3.47B YoY+6.6%
Total liabilities & equity	10.6B YoY-2.7%	10.9B YoY-4.2%	11.4B YoY+3.0%	11.0B YoY+2.4%	10.8B YoY+11.8%
	328M YoY-0.8%	331M YoY+0.6%	329M YoY+0.0%	329M YoY+3.4%	318M YoY+7.3%
	328M YoY-0.8%	331M YoY+0.6%	329M YoY+0.0%	329M YoY+3.4%	318M YoY+7.3%
	329M YoY-0.8%	331M YoY+0.6%	329M YoY+0.0%	329M YoY+3.4%	318M YoY+7.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	903M YoY+3.0%	877M YoY+5.3%	833M YoY+1.5%	820M YoY+23.5%	664M YoY+9.9%
Depreciation & amortization	680M YoY-2.2%	695M YoY+0.5%	692M YoY+1.8%	680M YoY+9.6%	620M YoY+0.2%
Share-based compensation	26.5M YoY-18.8%	32.6M YoY-0.8%	32.9M YoY+19.6%	27.5M YoY+24.7%	22.1M YoY+12.4%
Other operating activities	32.5M YoY+19.9%	27.1M YoY+198.2%	9.09M YoY-71.3%	31.7M YoY+65.2%	19.2M YoY+57.3%
	-151M YoY+45.4%	-276M YoY+4.4%	-289M YoY+68.9%	-930M YoY+26.9%	-1.27B YoY-176.1%
Capital expenditure	253M YoY+1.2%	250M YoY-15.4%	295M YoY+37.5%	215M YoY+37.4%	156M YoY-4.1%
Free cash flow	650M YoY+3.7%	627M YoY+16.7%	537M YoY-11.2%	605M YoY+19.2%	508M YoY+15.0%
Acquisitions	0.00	0.00	0.00	0.00	0.00
	-750M YoY-25.1%	-600M YoY-11.3%	-539M YoY-584.4%	111M YoY-81.8%	613M YoY+501.4%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00 YoY+100.0%	-551K YoY-100.1%	630M YoY-30.0%	899M YoY+779.4%
Common stock repurchased	118M	0.00 YoY-100.0%	25.0M YoY-49.0%	49.0M	0.00 YoY-100.0%
Dividends paid	568M YoY+1.7%	558M YoY+3.5%	540M YoY+11.6%	484M YoY+11.5%	434M YoY+3.4%
Other financing activities	-14.0M YoY+41.0%	-23.7M YoY-39.1%	-17.0M YoY+30.0%	-24.4M YoY-51.7%	-16.1M YoY-26.1%
Interest paid	191M YoY-0.8%	192M YoY+4.3%	184M YoY+18.9%	155M YoY+13.1%	137M YoY-14.1%
Income taxes paid	1.37M YoY+31.5%	1.04M YoY-45.4%	1.91M YoY+66.9%	1.15M YoY-76.0%	4.78M YoY+364.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	12.1B YoY-16.2%	14.4B YoY+14.1%	12.6B YoY-0.1%	12.6B YoY-34.0%	19.1B YoY+67.4%
P/E	31.9× YoY-80.1%	160.5× YoY+480.8%	27.6× YoY-65.0%	78.9× YoY-38.0%	127.3× YoY-28.3%
P/S	1060.8× YoY-38.6%	1728.3× YoY-21.7%	2206.5× YoY-13.2%	2541.0× YoY-18.8%	3128.9× YoY+39.0%
P/B	3.7× YoY-12.2%	4.2× YoY+37.6%	3.0× YoY-4.9%	3.2× YoY-42.5%	5.5× YoY+57.2%
P/FCF	18.5× YoY-19.1%	22.9× YoY-1.6%	23.3× YoY+9.8%	21.2× YoY-43.6%	37.6× YoY+45.5%
	3.1% YoY+402.9%	0.62% YoY-82.8%	3.6% YoY+185.5%	1.3% YoY+61.4%	0.79% YoY+39.5%
	5.4% YoY+23.7%	4.4% YoY+1.6%	4.3% YoY-9.0%	4.7% YoY+77.3%	2.7% YoY-31.3%
	4.7% YoY+19.7%	3.9% YoY-8.6%	4.3% YoY+9.1%	3.9% YoY+62.4%	2.4% YoY-35.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: UDR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all UDR filings on SEC EDGAR → Not investment advice.