American Homes 4 Rent (AMH) stock analysis

AMHNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as AMH.PG, AMH.PH

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 8/3024% below fair value

$32.28−0.25 (-0.77%)

Close on Nov 12, 2026Market cap $11.61BP/E 27.4Yield 3.72%

StockData Score

Prices as of Nov 11, 2026How the score works

Weak8 of 30 checks passed

American Homes 4 Rent passes 8 of the 30 checks behind our score; 18 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation: 3/6
Growth: 2/6
Past performance: 0/6
Financial health: 0/6
Dividend: 3/6

What stands out

Margin of safety over 20%
The price is 24.4% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $32.53 is below our fair value estimate of $43.02.
EPS growing 10%+ a year
Diluted EPS grew 18.5% a year over the last three fiscal years.
P/E below its 5-year median
American Homes 4 Rent's P/E of 27.6 is below its own 5-year median of 126.3.

What to watch

Elevated bankruptcy risk
The Altman Z-score is 1.19; above 3 is the safe zone and below 1.8 the distress zone.
P/E above the industry
American Homes 4 Rent's P/E of 27.6 is above the Miscellaneous Investing median of 26.3.
P/B above the industry
American Homes 4 Rent's price-to-book of 1.75 is above the Miscellaneous Investing median of 1.20.
Yield below Treasuries
The 4.0% yield is below the 4.4% on a 1-year Treasury.

Valuation3/6

P/E below its 5-year median
American Homes 4 Rent's P/E of 27.6 is below its own 5-year median of 126.3.
P/E above the industry
American Homes 4 Rent's P/E of 27.6 is above the Miscellaneous Investing median of 26.3.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
American Homes 4 Rent's price-to-book of 1.75 is above the Miscellaneous Investing median of 1.20.
Trading below fair value
The share price of $32.53 is below our fair value estimate of $43.02.
Margin of safety over 20%
The price is 24.4% below fair value, more than the 20% cushion we look for.

Growth2/6

Revenue growth over 3 years
Needs three years of positive revenue.
EPS growing 10%+ a year
Diluted EPS grew 18.5% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growth against the industry
Needs revenue for this year and last.
Guidance raised
American Homes 4 Rent raised its Full Year 2026 Same-Home Core NOI growth outlook on Jul 30, 2026.
Gross margin trend
This company does not report gross profit.

Past performance0/6

Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.

Financial health0/6

Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 1.19; above 3 is the safe zone and below 1.8 the distress zone.

Dividend3/6

Pays a dividend
American Homes 4 Rent paid dividends worth 4.0% of the share price over the last twelve months.
Yield below Treasuries
The 4.0% yield is below the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; American Homes 4 Rent yields 4.0%.
Dividend not cut
The dividend per share has not fallen by more than 10% in any of the last 6 fiscal years.
Earnings cover
Needs dividends paid and net income.
Cash-flow cover
Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$43.02

The share price is 24% below this estimate.

20%+ below

Near fair value

20%+ above

$32.53Price$43.02Fair value

Method	Multiple used	Own 5Y median	Industry median	Value per share	Weight
P/E	45.0×	126.3×	26.3×	$53.10	62%
P/B	1.4×	1.6×	1.2×	$25.78	15%
Earnings power	8.1% cost of equity	–	–	$27.64	23%
Fair value				$43.02	100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

P/E at month end
Own 5-year median 126
Miscellaneous Investing median 26.3

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day: $83.63M
Value traded per 1% price move: $90.96M

Downside

Low risk

Typical loss in a bad month: 9.8%
Volatility (annualized): 20%
Sharpe ratio, 1 year: -0.06
Beta to the S&P 500 (5Y): 0.64

Typical bad-month loss, week by week

Margins need revenue and profit figures

This company does not report the lines needed to calculate margins.

Per year	1 year	3 years	5 years	10 years	Five-year pace
EPS, diluted	+9.3%	+18.5%	+33.3%	–
Dividend per share	+15.4%	+18.6%	–	+19.6%

Measure	FY2016	FY2020	FY2025	Trend
Diluted shares	234M	307M	371M

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