ESS vs VMRK: Essex Property Trust and VIVMARK RESIDENTIAL compared
VIVMARK RESIDENTIAL is the larger company, worth $24.6B, about 1.4 times Essex Property Trust.
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- VIVMARK RESIDENTIAL is the larger company, worth $24.6B, about 1.4 times Essex Property Trust.
- Essex Property Trust grew revenue faster over the last year (+4.7% vs +2.8%).
- Essex Property Trust keeps more of each dollar of revenue as operating profit (32.5% vs 28.2%).
- On earnings, VIVMARK RESIDENTIAL is the cheaper stock (28.4x vs 42.4x).
- VIVMARK RESIDENTIAL's price assumes faster free cash flow growth: about 4% a year, against 4% for Essex Property Trust (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ESS | VMRK |
|---|---|---|
| Market cap | $17.5B | $24.6B |
| Share price | $272.18 | $65.51 |
| Revenue (last fiscal year) | $1.9B | $3.1B |
| Free cash flow (last fiscal year) | $934M | $1.3B |
| Revenue growth, last year | +4.7% | +2.8% |
| Revenue growth per year, last 5 fiscal years | +7.0% | +5.9% |
| Operating margin | 32.5% | 28.2% |
| Net margin | 21.5% | 28.0% |
| Return on equity | 7.8% | 8.3% |
| P/E (trailing) | 42.4x | 28.4x |
| Price / free cash flow | 17.7x | 20.3x |
| EV / EBITDA | — | 14.6x |
| FCF growth the price implies | 4.1% | 4.2% |
| Dividend yield | 3.8% | — |
| Debt / equity | — | 0.79x |
| Fundamental grade | C | C |
| Superinvestors holding it | 11 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Essex Property Trust
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.4B | $784M | 36.8% |
| 2022 | $1.6B | $812M | 37.0% |
| 2023 | $1.7B | $840M | 35.0% |
| 2024 | $1.8B | $932M | 39.6% |
| 2025 | $1.9B | $934M | 47.6% |
VIVMARK RESIDENTIAL
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.5B | $1.1B | 68.0% |
| 2022 | $3.1B | $1.2B | 36.1% |
| 2023 | $2.9B | $1.2B | 40.4% |
| 2024 | $3.0B | $1.3B | 29.3% |
| 2025 | $3.1B | $1.3B | 28.1% |
Where the revenue comes from
Essex Property Trust · by products, 2018
VIVMARK RESIDENTIAL
No segment breakdown reported.
Questions
Which is bigger, Essex Property Trust or VIVMARK RESIDENTIAL?
VIVMARK RESIDENTIAL (VMRK), at $24.6B against $17.5B.
Is ESS or VMRK cheaper?
By trailing P/E, VIVMARK RESIDENTIAL (28.4x) is cheaper than Essex Property Trust (42.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ESS or VMRK?
Essex Property Trust: revenue grew +4.7% over the last year, against +2.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.