American Homes 4 Rent (AMH) FY2022 results: revenue $1.5 billion, up 14.3% on the year

American Homes 4 Rent (AMH) reported revenue of $1.5 billion for fiscal 2022, the year ended 31 December 2022, up 14.3% on the year before. Net income was $251 million, up 85.4%, and diluted earnings per share $0.71. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.

Revenue

$1.5 billion

+14.3% on the year

FY2015FY2022

Operating margin

n/a

FY2015FY2022

Net income

$251 million

+85.4% on the year

FY2015FY2022

Diluted EPS

$0.71

+73.2% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,491	1,304	1,183	+14.3%
Interest expense	135	115	117	+17.4%
Net income	251	135	85.2	+85.4%
Net margin	16.8%	10.4%	7.2%
Diluted EPS	$0.71	$0.41	$0.28	+73.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	666	595	474	+11.8%
Capital expenditure	98.0	47.7	17.0	+105.6%
Free cash flow	567	548	457	+3.6%
Free cash flow margin	38.1%	42.0%	38.6%
Cash from investing	-1,426	-1,733	-643
Cash from financing	786	1,065	270	-26.2%
Depreciation and amortisation	427	373	343	+14.4%
Share-based compensation	27.3	17.8	9.8	+53.5%
Buybacks	n/a	n/a	0.0
Dividends paid	253	146	61.1	+72.7%
Dividend per share	$0.72	n/a	n/a
Diluted shares, weighted	350m	326m	307m	+7.5%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	6,496	6,060	5,789	+7.2%
Non-controlling interest	679	679	683	-0.0%
Debt	4,516	3,880	2,817	+16.4%
Other liabilities	484	344	304	+41.0%
Total liabilities and equity	12,175	10,962	9,594	+11.1%
Goodwill	120	120	120	0.0%
Intangible assets	10.2	13.1	4.9	-22.1%
Cash and equivalents	69.2	48.2	137	+43.5%
Other assets	11,975	10,781	9,331	+11.1%
Total assets	12,175	10,962	9,594	+11.1%

10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.