# AMERICAN HOMES 4 RENT (AMH) — Stock CV

American Homes 4 Rent is a $11.1B real estate company. Revenue grew 4.3% over the last year, it keeps 25¢ of every dollar of sales as profit, and its net debt equals ~6.1 years of free cash flow. It trades at 23.2× earnings — near the lowest of its own history.

> American Homes 4 Rent is a real estate investment trust focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States.

## Identity

- **Ticker**: AMH
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: LAS VEGAS, NV
- **Employees**: 1 598
- **Website**: https://www.amh.com
- **Market cap**: $11.1B
- **Last price**: $30.85
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $1.88B
- **Net income**: $465M
- **Free cash flow**: $821M
- **Net debt**: $5.00B
- **P/E**: 23.2
- **Revenue growth (YoY)**: 4.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 69 |
| Growth | 50 |
| Profitability | 55 |
| Health | 15 |
| Quality | 41 |
| Moat | 37 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +4.3% YoY
- [x] Profitable — $465M TTM
- [x] Profit growing — +16.1% YoY
- [x] Generates cash — $821M TTM
- [ ] Debt under control — ~6.1y of cash flow to repay
- [x] Established company — $11.1B market cap
- [ ] Not printing shares — +20.8% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [ ] Financially stable — health score 10/100
- [x] Pays a dividend — yield 4.30%
- [x] Valuation not extreme — P/E 23.2

## Experience (career milestones)

- **Q3 2026** — 15 open-market insider purchases: ~23K shares bought by insiders
- **FY2025** — Best year on record: $439M net income
- **FY2018** — Turned profitable: $23.5M net income after a loss year
- **FY2018** — Revenue crossed $1B: $1.07B for the year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — The company merged with American Residential Properties, Inc
- **2013** — The company became a public company via an initial public offering
- **2012** — The company was established in October 2012 by B

## Strengths

- High gross margin (58.1%)
- Strongly profitable — 24.8% net margin
- Strong cash conversion — FCF is 43.8% of revenue

## Watch-outs

- Loss-making in 2 of the recent years
- Net debt equals ~6.1 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.30B | $135M | $548M |
| FY2022 | $1.49B | $251M | $567M |
| FY2023 | $1.62B | $365M | $739M |
| FY2024 | $1.73B | $398M | $777M |
| FY2025 | $1.85B | $439M | $824M |

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Source: https://stockcv.com/AMH — derived from company filings; may be delayed or incomplete. Information, not investment advice.