CPT vs ESS: Camden Property Trust and Essex Property Trust compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Essex Property Trust is the larger company, worth $18.8B, about 2.0 times Camden Property Trust.
- Camden Property Trust grew revenue faster over the last year (+18.9% vs +4.3%).
- On earnings, Camden Property Trust is the cheaper stock (26.5x vs 30.7x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CPT | ESS |
|---|---|---|
| Market cap | $9.4B | $18.8B |
| Share price | $97.58 | $271.57 |
| Revenue (last fiscal year) | $13M | $9M |
| Free cash flow (last fiscal year) | — | $934M |
| Revenue growth, last year | +18.9% | +4.3% |
| Revenue growth per year, last 5 fiscal years | +5.3% | +0.7% |
| Operating margin | — | 6746.6% |
| Net margin | 2486.2% | 4452.3% |
| Return on equity | 8.6% | 7.8% |
| P/E (trailing) | 26.5x | 30.7x |
| Price / free cash flow | 24.4x | 17.5x |
| EV / EBITDA | 12.4x | 16.5x |
| FCF growth the price implies | — | 5.1% |
| Dividend yield | 4.4% | 3.8% |
| Debt / equity | 1.47x | 1.39x |
| Fundamental grade | C | C |
| Superinvestors holding it | 7 | 3 |
| Insider purchases, last 12 months | 2 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Camden Property Trust
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11M | — | — |
| 2022 | $5M | — | — |
| 2023 | $3M | — | — |
| 2024 | $7M | — | — |
| 2025 | $13M | — | — |
Essex Property Trust
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $9M | $784M | 5799.9% |
| 2022 | $11M | $812M | 5343.6% |
| 2023 | $11M | $840M | 5249.7% |
| 2024 | $10M | $932M | 6849.4% |
| 2025 | $9M | $934M | 9586.6% |
Where the revenue comes from
Camden Property Trust
No segment breakdown reported.
Essex Property Trust · by products, 2018
Rental and other property$1.4B99%
Management and other fees from affiliates$9M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CPT in InvestinglyQuestions
Which is bigger, Camden Property Trust or Essex Property Trust?
Essex Property Trust (ESS), at $18.8B against $9.4B.
Is CPT or ESS cheaper?
By trailing P/E, Camden Property Trust (26.5x) is cheaper than Essex Property Trust (30.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, CPT or ESS?
Camden Property Trust: revenue grew +18.9% over the last year, against +4.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.