AMERICAN HOMES 4 RENT
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $513.4M | $468.1M | $432.1M | $310.0M | $210.6M | $154.8M | $156.3M | $112.4M |
| Depreciation & Amortization | $504.3M | $477.0M | $456.6M | $426.5M | $372.8M | $343.2M | $329.3M | $318.7M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $25.8M | $31.0M | $25.4M | $27.3M | $17.8M | $9.8M | $4.8M | $3.4M |
| Net Cash from Operating Activities | $864.3M | $811.5M | $738.7M | $665.5M | $595.2M | $474.1M | $457.9M | $410.9M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-328.2M | $-825.9M | $-692.6M | $-1.43B | $-1.73B | $-642.9M | $-376.9M | $-674.4M |
| Financing Activities | ||||||||
| Dividends Paid | $446.3M | $383.5M | $319.5M | $252.5M | $146.2M | $61.1M | $59.8M | $58.4M |
| Stock Repurchases | — | — | — | — | — | $0 | $0 | $35.0M |
| Net Cash from Financing Activities | $-655.7M | $142.7M | $-42.2M | $786.2M | $1.06B | $269.8M | $-92.1M | $255.9M |
| Net Change in Cash | $-119.5M | $128.4M | $3.9M | $26.2M | $-73.3M | $101.0M | $-11.1M | $-7.6M |
| Free Cash Flow | — | — | — | — | — | — | — | — |