Filing Flows › UDR (UDR) › Q4 2025
UDR (UDR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
UDR (UDR) reported revenue of $433M for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +0.3% from the quarter before. Operating margin was 64.1%, net earnings $223M (51.5% of revenue).
UDR, Q4 2025: revenue $433M (+2% year over year), operating margin 64.1%, net earnings $223M, operating cash flow $261M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $433M | +0.3% | +2% |
| Operating profit | $278M | +264% | +319% |
| Net earnings | $223M | +452% | — |
| Operating cash flow | $261M | +11% | +9% |
| Free cash flow | $192M | +17% | +7% |
What changed
Revenue was $433.1M in Q4 2025, up 2% year over year and roughly flat from the previous quarter.
Operating profit was $277.7M, a 64.1% margin (up 48.4 points year over year). Of the extra revenue versus a year earlier, 2037% reached operating profit, above the 16% margin then. Total costs fell 56% while revenue rose 2%. Net earnings were $222.9M. The effective tax rate was 0.0%.
Operating cash flow was $261.4M (up 9% year over year), 110% of net income including minority interests. Non-cash charges added back $168.1M of depreciation and amortization and $7.1M of share-based compensation. Working capital and other items used $152.1M. Capital expenditures of $69.3M left free cash flow of $192.1M.
Questions
What was UDR's revenue in the fourth quarter 2025?
UDR (UDR) reported revenue of $433M for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +0.3% from the quarter before.
Was UDR profitable in the fourth quarter 2025?
Operating profit was $278M (64.1% of revenue) and net earnings $223M.
Source: UDR 10-K on SEC EDGAR.