AMHAmerican Homes 4 Rent
Real Estate Investment Trusts
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $11.5B
- Employees
- 2,023
- Net debt / EBITDA
- —
- $5.0B net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 0 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo52% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$585K · 36th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 46th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$11.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$949K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Operating cash flow | $595M | $666M | $739M | $812M | $864M | 6.5% |
| Stock-based comp | $18M | $27M | $25M | $31M | $26M | 17% |
| Dividends | $146M | $253M | $319M | $384M | $446M | 16% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 11, 2026 | HUGHES B WAYNE ET AL | SCHEDULE 13D/A | 6.0% | Passive |
| Sep 11, 2026 | GUSTAVSON TAMARA HUGHES | SCHEDULE 13D | 6.0% | Passive |
| Mar 12, 2020 | HUGHES B WAYNE ET AL | SC 13D/A | 12.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $1M · 43
- Open-market sells, 12 mo
- $205K · 1
- Net
- $949K
Pay vs performance
No pay-versus-performance disclosure yet.