EQUITY RESIDENTIAL

EQR

Quality scores

Data as of Sep 5, 2026

7 / 9

Strong

7/9 — SOLID fundamentals (high quality).

PassROA > 0 — ROA last year = 5.40 %
PassFCF > 0 — FCF last year = 1,289.70 mill.
PassFCF > net income (accrual quality) — FCF 1,289.70 vs. net income 1,120.09 (mill.)
PassRising ROA — ROA 5.40 % vs. prior year 4.97 %

FailLower long-term leverage — long-term debt/assets 0.40 vs. prior 0.39
FailRising current ratio (more liquidity) — Current ratio 0.15 vs. prior 0.16
PassNo dilution (shares do not grow) — Shares 377.81 mill. vs. prior 379.48 mill.

Z-Score (original)

1.95

Grey zone

Z''-Score (non-manufacturing)

4.88

Safe zone

Ratio	Value
X1 — Working capital / Total assets	-0.04
X2 — Retained earnings / Total assets	0.06
X3 — EBIT / Total assets	0.07
X4 — Market cap / Total liabilities	2.56
X4 — Book equity / Total liabilities	1.18
X5 — Sales / Total assets	0.15