MeritValue

APARTMENT INVESTMENT & MANAGEMENT CO

AIVdata completeness 100%18 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$169.8M1$02$2.7M3$6.7M3$7.6M3
Net income−$5.91M4$74.6M5−$166.2M6−$104M6$547.2M6
Operating cash flow$12.6M7$204.2M8$50.5M9$47M9$8.09M9
Capital expenditure$177.8M10$237.5M11$272.5M12$160M12$99.6M12
Free cash flow (derived)−$165.2M7−$33.3M8−$222M9−$113M9−$91.5M9
Total debt$1.18B13$1.05B14$1.15B15$829.7M16$738.6M16
Cash & equivalents$233.4M17$206.5M18$122.6M19$141.1M19$394.9M19
Diluted shares149.5M141.1M143.6M138.5M141.1M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.0000071%
of the whole company
Your share of last year’s profit
$38.79
Your share of its debt
$52.36
Your share of free cash flow
−$6.49
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$14.95
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000950170-24-020232 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-25-025775 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001193125-26-085547 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0000950170-24-020232 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0000950170-25-025775 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001193125-26-085547 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0000950170-24-020232 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0000950170-25-025775 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001193125-26-085547 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0000950170-24-020232 (PaymentsForCapitalImprovements)
  11. 10-K · period ending 2022-12-31 · accession 0000950170-25-025775 (PaymentsForCapitalImprovements)
  12. 10-K · period ending 2023-12-31 · accession 0001193125-26-085547 (PaymentsForCapitalImprovements)
  13. 10-K · period ending 2021-12-31 · accession 0000950170-23-004699 (LongTermDebt)
  14. 10-K · period ending 2022-12-31 · accession 0000950170-24-020232 (LongTermDebt)
  15. 10-K · period ending 2023-12-31 · accession 0000950170-25-025775 (LongTermDebt)
  16. 10-K · period ending 2024-12-31 · accession 0001193125-26-085547 (LongTermDebt)
  17. 10-K · period ending 2021-12-31 · accession 0000950170-23-004699 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0000950170-25-025775 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0001193125-26-085547 (CashAndCashEquivalentsAtCarryingValue)