Apartment Income REIT Corp. Financial Ratios — AIRC Stock

Profitability (USD)

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-0.74	-0.94	-0.8	2	3.32	5.08	4.07	6.97	5.13	10.86	7.24	-1.59	7.07	13.92	10.01
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	23.88	- -	- -	41.91	27.91
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.11	- -	- -	2.31	2.96
Gross Margin (%)	53.8	55.14	57.72	59.69	60.98	61.3	63.1	64.36	64.73	66	66.1	65.39	63.81	66.23	66.36
EBITDA Margin (%)	54.79	48.61	50.15	53.25	55.53	55.36	57.32	58.23	59.28	60.17	57.49	48.68	61.3	63.01	63.25
Operating Margin (%)	10.98	10.71	14.8	19.33	25.57	26.65	26.11	24.78	22.86	20.96	16.32	4.08	18.14	17.65	21.48
Incremental Operating Margin (%)	42.67	12.5	-73.88	113.14	410.29	129.3	200.95	-64.76	-176.69	32.52	72.4	188.82	493.43	6.54	85.38
Pretax Margin (%)	-19.37	-18.53	-15.55	-2.05	3.35	4.82	6.51	46.64	31.45	81.2	63.44	-2.66	63.98	125.88	84.35
Profit Margin (%)	-5.68	-7.48	-6.24	13.82	21.28	31.42	25.34	43.22	31.41	79.29	61.52	-14.47	60.42	116.89	77.45
Net Income to Common Margin (%)	-10.15	-13.07	-11.26	8.61	20.99	30.61	24.14	42.02	30.55	78.27	60.57	-14.47	60.4	116.87	77.43
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.06	- -	- -	0.4	0.35
Dvd Payout Ratio (%)	-41.67	-20.05	-33.57	-1,588.03	224.71	142.05	178.27	38.98	60.95	32.21	46.05	-268.03	52.76	26.79	35.78
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Total Debt	5,479	5,182	4,773	4,413	4,388	4,135	3,849	3,885	4,089	4,076	4,013	4,243	3,743	3,642	3,210
ST Debt	- -	- -	- -	- -	50	112	27	18	67	160	275	266	304	462	115
LT Debt	5,479	5,182	4,773	4,413	4,338	4,023	3,822	3,867	4,022	3,915	3,738	3,977	3,439	3,180	3,095
Total Debt/EBITDA	8.84	11.12	10.41	8.65	8.11	7.59	6.84	6.7	6.86	8.06	9.06	12.11	8.24	7.47	6.19
Net Debt/EBITDA	8.71	10.88	10.21	8.48	8.01	7.53	6.75	6.59	6.73	7.99	8.75	11.99	8.09	7.27	6.01
Total Debt/EBIT	44.11	50.48	35.28	23.82	17.62	15.76	15.02	15.74	17.79	23.14	31.92	144.61	27.85	26.66	18.23
Net Debt/EBIT	43.46	49.39	34.6	23.37	17.4	15.65	14.82	15.49	17.45	22.93	30.83	143.11	27.35	25.96	17.71
EBITDA to Interest Expense	1.98	1.68	1.68	2.23	2.28	2.47	2.82	2.95	3.06	2.81	3.07	2.38	3.51	4.19	4
EBITDA-CapEx/Interest Expense	1.98	1.68	1.45	2.23	2.28	2.47	2.82	2.95	3.06	2.81	3.07	2.38	3.51	4.19	4
EBIT to Interest Expense	0.4	0.37	0.5	0.81	1.05	1.19	1.28	1.26	1.18	0.98	0.87	0.2	1.04	1.17	1.36
Interest Expense	313	277	272	229	237	221	200	196	195	180	144	147	129	116	130
Common Equity/Total Assets	-31.5	-36.32	-41.33	-44.71	-46.01	-43.43	-42.42	-38.25	-38.91	-31.44	-24.91	-34.2	-30.31	-20.24	-15.6
Long-Term Debt/Equity (%)	357.04	396.51	388.64	357.35	346.28	262.92	206.4	188.79	228.86	209.94	190.45	286.65	170.39	132.68	117.81
Long-Term Debt/Capital (%)	138.93	151.5	164.05	227.61	223.12	203.64	232.72	205.67	207.03	161.78	151.11	181.17	172.08	124.31	122.31
Long-Term Debt/Total Assets (%)	69.3	70.22	69.45	68.94	71.35	65.98	62.47	62.04	66.16	63.25	54.1	63.85	53.4	48.53	50.46
Total Debt/Equity (%)	357.04	396.51	388.64	357.35	350.3	270.26	207.86	189.66	232.68	218.54	204.47	305.79	185.45	151.96	122.18
Total Debt/Capital (%)	138.93	151.5	164.05	227.61	225.71	209.32	234.37	206.62	210.49	168.41	162.23	193.27	187.29	142.37	126.85
Total Debt/Total Assets (%)	69.3	70.22	69.45	68.94	72.18	67.82	62.91	62.33	67.26	65.84	58.08	68.11	58.12	55.58	52.33
Net Debt to Equity	351.74	388	381.23	350.52	345.85	268.37	205.11	186.67	228.31	216.57	197.51	302.61	182.11	147.96	118.7
Net Debt/Capital (%)	139.75	153.24	166.12	233.42	229.42	210.95	238.66	210.21	215.04	169.47	165.86	195.19	190.33	144.02	127.86
EBITDA	620	466	459	510	541	545	563	580	596	506	443	350	454	488	519
EBITDA-CapEx	620	466	394	510	541	545	563	580	596	506	443	350	454	488	519
Operating Income (Loss)	124	103	135	185	249	262	256	247	230	176	126	29	134	137	176

Liquidity (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Cash Ratio	0.16	0.23	0.12	0.13	0.15	0.06	0.13	0.2	0.26	0.09	0.11	0.05	0.07	0.11	0.26
Current Ratio	0.77	0.76	1.23	1.25	0.87	0.66	0.7	0.61	0.68	0.48	1.01	0.7	0.83	0.44	0.53
Quick Ratio	0.33	0.34	0.34	0.55	0.54	0.41	0.39	0.25	0.31	0.23	0.13	0.67	0.65	0.2	0.46
CFO/Avg Current Liab	0.35	0.53	0.43	0.47	0.65	0.76	0.85	1.11	1.31	1.12	0.46	0.27	0.36	0.46	0.62
Common Equity/Total Assets	-31.5	-36.32	-41.33	-44.71	-46.01	-43.43	-42.42	-38.25	-38.91	-31.44	-24.91	-34.2	-30.31	-20.24	-15.6
Long-Term Debt/Equity (%)	357.04	396.51	388.64	357.35	346.28	262.92	206.4	188.79	228.86	209.94	190.45	286.65	170.39	132.68	117.81
Long-Term Debt/Capital (%)	138.93	151.5	164.05	227.61	223.12	203.64	232.72	205.67	207.03	161.78	151.11	181.17	172.08	124.31	122.31
Long-Term Debt/Total Assets (%)	69.3	70.22	69.45	68.94	71.35	65.98	62.47	62.04	66.16	63.25	54.1	63.85	53.4	48.53	50.46
Total Debt/Equity (%)	357.04	396.51	388.64	357.35	350.3	270.26	207.86	189.66	232.68	218.54	204.47	305.79	185.45	151.96	122.18
Total Debt/Capital (%)	138.93	151.5	164.05	227.61	225.71	209.32	234.37	206.62	210.49	168.41	162.23	193.27	187.29	142.37	126.85
Total Debt/Total Assets (%)	69.3	70.22	69.45	68.94	72.18	67.82	62.91	62.33	67.26	65.84	58.08	68.11	58.12	55.58	52.33
CFO/Total Liabilities	3.67	4.24	4.59	6.13	6.75	7.04	8.43	9	9.07	9.16	7.57	5.71	7.53	10.12	10.56
CFO/CapEx	- -	- -	3.98	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	-0.26	-0.35	-0.36	-0.35	-0.36	-0.34	-0.32	-0.27	-0.28	-0.25	-0.18	0.1	0.75	0.53	0.84

Working Capital (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Accounts Receivable Turnover	15.07	17.48	19	9.44	6.37	6.4	7.68	18.07	66.86	50.3	43.98	35.86	69.05	- -	- -
Days Sales Outstanding	24.22	20.88	19.21	38.66	57.31	57.05	47.55	20.2	5.46	7.26	8.3	10.18	5.29	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	11.11	15.05	12.9	12.2	10.28	8.96	9.28	9.75	19.34	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	32.85	24.25	28.29	29.93	35.49	40.76	39.33	37.43	18.88	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	-8.62	-3.37	-9.08	8.74	21.82	16.29	8.22	-17.23	-13.42	7.26	8.3	10.18	5.29	- -	- -
Inventory to Cash Days	24.22	20.88	19.21	38.66	57.31	57.05	47.55	20.2	5.46	7.26	8.3	10.18	5.29	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4,064	7,562	4,943	5,063
- Cash & Cash Equivalents	81	111	91	84	56	29	51	61	77	37	136	44	67	96	91
+ Preferred Equity and Hybrid Capital	660	658	657	68	68	186	159	125	125	125	- -	2	2	2	2
+ Minority/Non Controlling Interest	295	261	320	320	285	302	229	254	94	166	182	81	206	240	276
+ Total Debt	5,479	5,182	4,773	4,413	4,388	4,135	3,849	3,885	4,089	4,076	4,013	4,243	3,743	3,642	3,210
Enterprise Value	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	8,345	11,445	8,731	8,459
Total Capital	3,944	3,420	2,909	1,939	1,944	1,975	1,642	1,880	1,943	2,420	2,474	2,195	1,999	2,558	2,531
Total Debt/Capital (%)	138.93	151.5	164.05	227.61	225.71	209.32	234.37	206.62	210.49	168.41	162.23	193.27	187.29	142.37	126.85
Total Debt / EV	0.86	0.87	0.84	0.94	0.94	0.9	0.92	0.92	0.97	0.94	0.99	0.51	0.33	0.42	0.38
EV/Sales	5.62	6.25	6.19	4.92	4.81	4.67	4.27	4.22	4.21	5.15	5.27	11.6	15.45	11.28	10.32
EV/EBITDA	10.25	12.85	12.34	9.24	8.66	8.43	7.44	7.25	7.1	8.56	9.16	23.82	25.2	17.91	16.31
EV/EBIT	51.15	58.34	41.83	25.46	18.82	17.51	16.34	17.03	18.41	24.58	32.28	284.44	85.14	63.93	48.03
EV/Cash Flow to Firm	12.19	11.79	10.89	8.8	8.12	7.23	6.48	7.24	6.99	7.47	7.82	7.21	24.67	16.27	16.93
EV/Free Cash Flow to Firm	12.19	11.79	9.68	8.8	8.12	7.23	6.48	7.24	6.99	7.47	7.82	7.21	24.67	16.27	16.93
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4,064	7,580	5,023	5,142
Diluted Enterprise Value	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	8,345	11,464	8,811	8,539
EV per Share	70.98	65.71	60.56	44.78	41.18	40.28	34.45	34.4	34.56	35.46	34.02	68.16	74.26	56.66	57.2
TTM Sales	1,131	959	914	959	974	984	981	996	1,005	840	771	720	741	774	820
TTM EBITDA	620	466	459	510	541	545	563	580	596	506	443	350	454	488	519
TTM Operating Income	124	103	135	185	249	262	256	247	230	176	126	29	134	137	176
TTM Cash Flow to Firm	521	508	520	536	577	636	646	581	606	580	519	1,157	464	537	500
TTM Free Cash Flow to Firm	521	508	585	536	577	636	646	581	606	580	519	1,157	464	537	500

Multiples (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.69	22.77	11.94	13.88
EV/EBIT	51.15	58.34	41.83	25.46	18.82	17.51	16.34	17.03	18.41	24.58	32.28	284.44	85.14	63.93	48.03
Enterprise Value	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	8,345	11,445	8,731	8,459
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	35.99	36.68	33.62	28.22
EV/Sales	5.62	6.25	6.19	4.92	4.81	4.67	4.27	4.22	4.21	5.15	5.27	11.6	15.45	11.28	10.32
EV/EBITDA	10.25	12.85	12.34	9.24	8.66	8.43	7.44	7.25	7.1	8.56	9.16	23.82	25.2	17.91	16.31
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16.9	5.47	7.97
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-39.02	14.48	6.92	7.67
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-48.21	19.02	9.51	9.38
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-42.32	12.64	5.73	6.57
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1.91	-3.87	-3.73	-5.29
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1.91	-3.32	-4.72	-5.09
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2.36	-4.36	-6.49	-6.22
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2.07	-2.9	-3.91	-4.36
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	3.81	2.09	1.95
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	3.26	2.65	1.88
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.71	4.29	3.64	2.3
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.26	2.85	2.19	1.61
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.65	10.21	6.39	6.17
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.65	8.74	8.09	5.94
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6.98	11.49	11.12	7.26
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6.12	7.63	6.7	5.09
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.69	22.71	11.75	13.67
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.69	19.45	14.88	13.15
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.15	25.56	20.45	16.08
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	15.93	16.98	12.32	11.27
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.69	19.5	15.12	13.36
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.15	25.62	20.78	16.34
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	15.93	17.02	12.52	11.44
EV/Sales Average	5.62	6.25	6.19	4.92	4.81	4.67	4.27	4.22	4.21	5.15	5.27	11.6	13.98	12.99	10.08
EV/Sales High	5.62	6.25	6.19	4.92	4.81	4.67	4.27	4.22	4.21	5.15	5.27	12.93	16.73	16.01	11.41
EV/Sales Low	5.62	6.25	6.19	4.92	4.81	4.67	4.27	4.22	4.21	5.15	5.27	12.07	12.87	11.59	9.23
EV/EBITDA Average	10.25	12.85	12.34	9.24	8.66	8.43	7.44	7.25	7.1	8.56	9.16	23.82	22.81	20.61	15.94
EV/EBITDA High	10.25	12.85	12.34	9.24	8.66	8.43	7.44	7.25	7.1	8.56	9.16	26.55	27.29	25.41	18.03
EV/EBITDA Low	10.25	12.85	12.34	9.24	8.66	8.43	7.44	7.25	7.1	8.56	9.16	24.8	21	18.4	14.59
EV/EBIT Average	51.15	58.34	41.83	25.46	18.82	17.51	16.34	17.03	18.41	24.58	32.28	284.41	77.07	73.56	46.95
EV/EBIT High	51.15	58.34	41.83	25.46	18.82	17.51	16.34	17.03	18.41	24.58	32.28	317.03	92.21	90.71	53.11
EV/EBIT Low	51.15	58.34	41.83	25.46	18.82	17.51	16.34	17.03	18.41	24.58	32.28	296.13	70.95	65.67	42.98
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	33.19	49.06	32.08	34.23
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	41	55.22	55.82	40.28
Enterprise Value Average	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	8,345	10,361	10,047	8,268
Enterprise Value High	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	9,302	12,395	12,389	9,354
Enterprise Value Low	6,354	5,989	5,659	4,716	4,686	4,595	4,187	4,203	4,231	4,329	4,058	8,688	9,537	8,968	7,570

Shares Outstanding	91	92	95	114	114	115	122	123	123	117	120	149	157	149	145
Diluted Weighted Avg Shares	90	91	93	105	114	114	122	122	123	122	120	122	155	157	150
Basic Weighted Avg Shares	90	91	93	105	114	114	122	122	122	122	119	122	154	154	148
Revenue per Share	12.64	10.52	9.79	9.1	8.56	8.63	8.07	8.15	8.21	6.88	6.46	5.88	4.81	5.02	5.54
EBITDA per Share	6.92	5.11	4.91	4.85	4.75	4.78	4.63	4.75	4.87	4.14	3.71	2.86	2.95	3.16	3.51
Operating Income per Share	1.39	1.13	1.45	1.76	2.19	2.3	2.11	2.02	1.88	1.44	1.05	0.24	0.87	0.89	1.19
Basic EPS, GAAP	-1.28	-1.38	-1.1	0.78	1.8	2.64	1.95	3.42	2.51	5.39	3.91	-0.85	2.9	5.87	4.29
Basic EPS from Cont Ops	-2.25	-1.76	-1.46	-0.18	0.3	0.59	0.75	3.96	2.83	5.7	4.09	-0.94	3.11	6.3	4.66
Diluted EPS, GAAP	-1.28	-1.38	-1.1	0.78	1.79	2.63	1.94	3.42	2.5	5.38	3.9	-0.85	2.9	5.77	4.23
Diluted EPS from Cont Ops	-2.25	-1.76	-1.46	-0.18	0.3	0.59	0.75	3.95	2.83	5.69	4.09	-0.94	3.1	6.19	4.59
Dividend per Share	1.65	1.1	1.15	1.34	1.26	1.39	1.61	1.77	1.91	2.02	2.05	2.49	1.75	1.8	1.8
Cash Flow per Share	2.61	2.83	2.77	3.01	2.86	2.82	2.96	3.08	3.2	3.25	3.14	2.26	2.16	2.73	2.5
Free Cash Flow per Basic Share	2.61	2.83	2.07	3.01	2.86	2.82	2.96	3.08	3.2	3.25	3.14	2.26	2.16	2.73	2.5
Cash & Equivalents per Share	0.91	1.22	0.97	0.8	0.49	0.25	0.42	0.5	0.63	0.3	1.14	0.36	0.44	0.62	0.62
Book Value per Share	-27.83	-29.4	-30.4	-27.17	-24.58	-23.22	-21.36	-19.51	-19.32	-15.94	-14.43	-17.4	-12.67	-8.6	-6.47
Tangible Book Value per Share	9.77	7.12	5.19	10.6	9.97	11.35	13.55	15.42	13.02	13.89	16.13	11.05	12.87	15.33	17.53

Apartment Income REIT Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)