American Homes 4 Rent (AMH)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $12.5B, American Homes 4 Rent's free cash flow of $824M (fiscal 2025) would need to grow about 1% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from American Homes 4 Rent's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from AMH's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from American Homes 4 Rent's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Net income | $135M | $251M | $366M | $398M | $439M |
| Free cash flow | $548M | $567M | $699M | $777M | $824M |
| EPS (diluted) | $0.41 | $0.71 | $1.01 | $1.08 | $1.18 |
| Operating margin | — | — | — | — | — |
Where the revenue comes from
Revenue by products, fiscal 2018.
Superinvestors who own AMH
From each investor's latest 13F filing (what a 13F shows). 5 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $260M | 0.09% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $42M | 0.10% | Q2 2026 |
| Marty Whitman Third Avenue Management LLC |
Trimmed | $9M | 1.4% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Held | $5M | 0.05% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
Held | $770,960 | 0.10% | Q2 2026 |
Insider buying
Open-market purchases by American Homes 4 Rent's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Sep 11, 2026 | Jack E Corrigan Director |
4,000 | $21.50 | $86,000 |
| Sep 11, 2026 | Jack E Corrigan Director |
1,000 | $21.55 | $21,548 |
| Sep 11, 2026 | Jack E Corrigan Director |
3,000 | $21.47 | $64,410 |
| Sep 10, 2026 | Jack E Corrigan Director |
1,000 | $21.60 | $21,600 |
| Mar 3, 2026 | David Goldberg |
2,000 | $29.30 | $58,600 |
| Mar 2, 2026 | Douglas N Benham |
1,200 | $24.20 | $29,040 |
| Feb 25, 2026 | Douglas N Benham |
1,571 | $24.00 | $37,704 |
| Feb 24, 2026 | David Goldberg |
2,000 | $29.17 | $58,340 |
| Dec 9, 2025 | Jack E Corrigan |
5,000 | $22.96 | $114,800 |
| Nov 19, 2025 | Douglas N Benham |
1,000 | $31.65 | $31,650 |
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In the full deep dive
Questions
What growth does American Homes 4 Rent's stock price imply?
At a market value of $12.5B, American Homes 4 Rent would need its free cash flow to grow about 1% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 15% a year.
Are American Homes 4 Rent insiders buying the stock?
10 open-market insider purchases of AMH in the last 12 months, from SEC Form 4 filings.
Which superinvestors own American Homes 4 Rent?
5 of the superinvestors Investingly tracks hold AMH in their latest 13F, including Cliff Asness, Joel Greenblatt, Marty Whitman.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.