NYSE: VMRK
Vivmark Residential
Real Estate · Real Estate Investment Trusts
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$25.5B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $23.6B |
| FY2017, ended Dec 31, 2017 | $23.5B |
| FY2018, ended Dec 31, 2018 | $24.4B |
| FY2019, ended Dec 31, 2019 | $30.1B |
| FY2020, ended Dec 31, 2020 | $22.1B |
| FY2021, ended Dec 31, 2021 | $34.0B |
| FY2022, ended Dec 31, 2022 | $22.3B |
| FY2023, ended Dec 31, 2023 | $23.2B |
| FY2024, ended Dec 31, 2024 | $27.2B |
| FY2025, ended Dec 31, 2025 | $23.8B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $25.5B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$3.13B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.43B |
| FY2017, ended Dec 31, 2017 | $2.47B |
| FY2018, ended Dec 31, 2018 | $2.58B |
| FY2019, ended Dec 31, 2019 | $2.70B |
| FY2020, ended Dec 31, 2020 | $2.57B |
| FY2021, ended Dec 31, 2021 | $2.46B |
| FY2022, ended Dec 31, 2022 | $3.09B |
| FY2023, ended Dec 31, 2023 | $2.87B |
| FY2024, ended Dec 31, 2024 | $2.98B |
| FY2025, ended Dec 31, 2025 | $3.09B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $3.13B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $4.29B | $1.21B |
| FY2017, ended Dec 31, 2017 | $603M | $1.26B |
| FY2018, ended Dec 31, 2018 | $658M | $1.35B |
| FY2019, ended Dec 31, 2019 | $970M | $1.28B |
| FY2020, ended Dec 31, 2020 | $914M | $1.04B |
| FY2021, ended Dec 31, 2021 | $1.33B | $1.05B |
| FY2022, ended Dec 31, 2022 | $777M | $1.35B |
| FY2023, ended Dec 31, 2023 | $835M | $1.45B |
| FY2024, ended Dec 31, 2024 | $1.04B | $1.44B |
| FY2025, ended Dec 31, 2025 | $1.12B | $1.54B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $875M | $1.47B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$36.4M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $77.2M |
| FY2017, ended Dec 31, 2017 | $50.6M |
| FY2018, ended Dec 31, 2018 | $47.4M |
| FY2019, ended Dec 31, 2019 | $45.8M |
| FY2020, ended Dec 31, 2020 | $42.6M |
| FY2021, ended Dec 31, 2021 | $124M |
| FY2022, ended Dec 31, 2022 | $53.9M |
| FY2023, ended Dec 31, 2023 | $50.7M |
| FY2024, ended Dec 31, 2024 | $62.3M |
| FY2025, ended Dec 31, 2025 | $55.9M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $36.4M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.—
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | — |
| FY2017, ended Dec 31, 2017 | $9.07B |
| FY2018, ended Dec 31, 2018 | $9.41B |
| FY2019, ended Dec 31, 2019 | $10.1B |
| FY2020, ended Dec 31, 2020 | $8.54B |
| FY2021, ended Dec 31, 2021 | $9.42B |
| FY2022, ended Dec 31, 2022 | $8.99B |
| FY2023, ended Dec 31, 2023 | $7.87B |
| FY2024, ended Dec 31, 2024 | $8.74B |
| FY2025, ended Dec 31, 2025 | $8.83B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 2.1% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.375M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 367M |
| FY2017, ended Dec 31, 2017 | 368M |
| FY2018, ended Dec 31, 2018 | 370M |
| FY2019, ended Dec 31, 2019 | 372M |
| FY2020, ended Dec 31, 2020 | 373M |
| FY2021, ended Dec 31, 2021 | 376M |
| FY2022, ended Dec 31, 2022 | 379M |
| FY2023, ended Dec 31, 2023 | 380M |
| FY2024, ended Dec 31, 2024 | 380M |
| FY2025, ended Dec 31, 2025 | 378M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 375M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $29.8M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $0 | $30.5M | — |
| FY2017, ended Dec 31, 2017 | — | $25.0M | — |
| FY2018, ended Dec 31, 2018 | — | $27.1M | — |
| FY2019, ended Dec 31, 2019 | — | $24.4M | — |
| FY2020, ended Dec 31, 2020 | — | $23.2M | — |
| FY2021, ended Dec 31, 2021 | — | $27.8M | — |
| FY2022, ended Dec 31, 2022 | — | $29.5M | $140M |
| FY2023, ended Dec 31, 2023 | $49.1M | $31.8M | — |
| FY2024, ended Dec 31, 2024 | $38.5M | $31.3M | — |
| FY2025, ended Dec 31, 2025 | $281M | $32.2M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — | $29.8M | — |
Revenue (TTM)
$3.13B
+2.8% YoY
Net income (TTM)
$875M
−13.5% YoY
Cash
$36.4M
+16.4% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $23.2B
- P/E
- 26.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 7.4×
- Price / Book
- 2.2×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $3.13B
- Revenue Growth YoY
- 2.8%
- Revenue CAGR 3Y
- 0.0%
- Revenue CAGR 5Y
- 3.8%
- EPS Growth YoY
- −13.5%
- Net Income Growth YoY
- −13.5%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 28.2%
- Net Margin
- 28.0%
- FCF Margin
- 47.1%
- Return on Equity
- 8.1%
Earnings
Trailing 12 months- Net Income
- $875M
- EPS (diluted)
- $2.30
- EBITDA
- $1.89B
- Operating Income
- $882M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $36.4M
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $20.3B
- Total Liabilities
- $9.39B
- Shareholders' Equity
- $10.5B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.57B
- Capital Expenditure
- $92.2M
- Free Cash Flow
- $1.47B
Dividends and risk
Last 12 months- Dividend Yield
- 4.5%
- Dividend / Share
- $2.80
- Beta (5Y)
- 0.74
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $3.13B.
Strength
Keeps 28.2% of revenue as operating profit.
Strength
Turns 47.1% of revenue into free cash flow.
Strength
Share count is down 1.8% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 13, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K72Good news
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 13, 2025 · Read the filing on EDGAR
- Rental income rose 3.7% to $2.98 billion; net income rose 23.3% to $1.07 billion, largely from $547 million of gains on property sales.
- The company bought 18 properties for about $1.6 billion, mainly in Atlanta, Dallas and Denver, and sold 13 properties in coastal markets.
- Litigation accruals rose to $42.4 million from $17.1 million, and a court issued adverse findings in a California late-fee class action.
Business momentum
Strong improvement
“During the year ended December 31, 2024, the Company's operating business performed well, with healthy demand across most of our markets”
Outlook
Positive
“With an overall deficit in housing across the country, we believe our business is well positioned for the future.”
Financial stress
Low
“With approximately $2.0 billion in readily available liquidity, a strong balance sheet, limited near-term debt maturities, very strong credit metrics and ample access to capital markets”
Tone against the previous report
About the same
Red flags
- Minor
Major lawsuit
“On April 8, 2024, the Court issued certain findings of facts and conclusions of law that are adverse to the Company’s legal position.”
Positives
Same-store rental income grew on good demand
“The increase in same store rental income is primarily driven by good demand and modest supply across most of our markets.”
Large borrowing capacity and investment-grade credit
“Of the $30.0 billion in investment in real estate on the Company’s balance sheet at December 31, 2024, $26.8 billion or 89.4% was unencumbered.”
Operating cash flow covers operating needs and dividends
“Currently, the Company considers its cash provided by operating activities to be adequate to meet operating requirements and payments of distributions.”
Concerns
Profit jump came mainly from property sale gains, not from renting apartments
“Net gain on sales of real estate properties increased during the year ended December 31, 2024 as compared to 2023, primarily as a result of a significantly higher dollar sales volume”
Legal costs and accruals are climbing
“Other expenses increased during the year ended December 31, 2024 as compared to 2023, primarily due to increases in litigation accruals and advocacy contributions”
Removing non-paying residents is taking longer than planned
“However, that progress was slower during 2024 than originally anticipated.”
New risks since the previous report
Adverse court findings in California late-fee class action
“On April 8, 2024, the Court issued certain findings of facts and conclusions of law that are adverse to the Company’s legal position.”
Possible federal rent limits on properties with government-backed loans
“the federal government has recently considered imposing rent regulations on multifamily properties secured by government-sponsored debt”
Financing disruption if Fannie Mae and Freddie Mac are privatized
“privatization of the currently government sponsored organizations, Fannie Mae and Freddie Mac”
Higher costs from tariffs and immigration issues
“Increases in our operating expenses due to inflation, tariffs, immigration issues or other cost pressures”
Heavy new apartment supply in the expansion markets it is buying into
“Competitive new supply was modest in our Established Markets, but has been elevated in our Expansion Markets.”
Biggest risks named
- Antitrust lawsuits over rent-setting software
- Rent control and eviction restrictions
- Heavy concentration in coastal markets
- Interest rates and refinancing costs
- Short-term leases exposing income to falling rents
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −1.2 | |
| New risks | −2 | |
| Score | 72 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 13, 2026 | Pro | |||
| 10-K | Feb 13, 2025 | 72 | Strong improvement | 1 minor | |
| 10-K | Feb 15, 2024 | 65 | Improving | 1 medium | |
| 10-K | Feb 16, 2023 | 46 | Sharp deterioration | None | |
| 10-K | Feb 17, 2022 | 60 | Mixed | None | |
| 10-K | Feb 18, 2021 | 48 | Weakening | None | |
| 10-K | Feb 20, 2020 | 71 | Strong improvement | None | |
| 10-K | Feb 21, 2019 | 70 | Improving | None | |
| 10-K | Feb 22, 2018 | 41 | Sharp deterioration | None | |
| 10-K | Feb 23, 2017 | 51 | Mixed | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Jul 30, 2026. View filings on SEC EDGAR