Annual Income Statements for Invitation Home
This table shows Invitation Home's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Invitation Home
This table shows Invitation Home's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
79 |
7.88 |
120 |
138 |
132 |
129 |
142 |
73 |
95 |
143 |
166 |
Consolidated Net Income / (Loss) |
|
79 |
101 |
121 |
138 |
132 |
130 |
143 |
73 |
96 |
144 |
166 |
Net Income / (Loss) Continuing Operations |
|
55 |
34 |
91 |
138 |
74 |
34 |
92 |
73 |
48 |
-2.72 |
95 |
Total Pre-Tax Income |
|
56 |
77 |
95 |
97 |
82 |
81 |
97 |
88 |
70 |
-16 |
100 |
Total Revenue |
|
492 |
806 |
512 |
600 |
618 |
702 |
556 |
653 |
660 |
749 |
674 |
Net Interest Income / (Expense) |
|
-76 |
226 |
-78 |
0.00 |
0.00 |
78 |
-90 |
0.00 |
0.00 |
90 |
0.00 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
76 |
-226 |
78 |
0.00 |
0.00 |
-78 |
90 |
0.00 |
0.00 |
-90 |
0.00 |
Total Non-Interest Income |
|
569 |
580 |
590 |
600 |
618 |
624 |
646 |
653 |
660 |
659 |
674 |
Other Service Charges |
|
3.28 |
-525 |
3.38 |
3.45 |
3.40 |
3.42 |
14 |
16 |
19 |
21 |
21 |
Other Non-Interest Income |
|
565 |
1,105 |
587 |
597 |
614 |
621 |
632 |
637 |
641 |
638 |
653 |
Total Non-Interest Expense |
|
428 |
726 |
415 |
503 |
536 |
620 |
465 |
565 |
591 |
705 |
576 |
Net Occupancy & Equipment Expense |
|
226 |
232 |
232 |
237 |
253 |
254 |
262 |
267 |
277 |
268 |
274 |
Other Operating Expenses |
|
20 |
321 |
17 |
98 |
109 |
190 |
23 |
112 |
113 |
209 |
114 |
Depreciation Expense |
|
160 |
163 |
165 |
166 |
171 |
173 |
175 |
177 |
180 |
182 |
183 |
Impairment Charge |
|
20 |
5.82 |
1.16 |
1.87 |
2.50 |
3.07 |
4.14 |
10 |
21 |
48 |
4.68 |
Other Special Charges |
|
0.80 |
- |
-0.09 |
- |
- |
- |
0.21 |
- |
- |
- |
0.22 |
Nonoperating Income / (Expense), net |
|
-8.37 |
- |
-1.49 |
- |
- |
- |
5.97 |
- |
- |
- |
1.37 |
Other Gains / (Losses), net |
|
-0.85 |
-43 |
-4.16 |
41 |
-7.93 |
-47 |
-5.14 |
-15 |
-22 |
13 |
-5.22 |
Other Adjustments to Consolidated Net Income / (Loss) |
|
24 |
- |
30 |
- |
58 |
- |
50 |
- |
48 |
- |
72 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
0.40 |
0.44 |
0.51 |
0.58 |
0.58 |
0.57 |
0.63 |
0.45 |
0.49 |
0.63 |
0.77 |
Basic Earnings per Share |
|
$0.13 |
$0.17 |
$0.20 |
$0.23 |
$0.22 |
$0.20 |
$0.23 |
$0.12 |
$0.16 |
$0.23 |
$0.27 |
Weighted Average Basic Shares Outstanding |
|
610.85M |
609.77M |
611.59M |
611.95M |
612.00M |
611.89M |
612.22M |
612.63M |
612.67M |
612.55M |
612.78M |
Diluted Earnings per Share |
|
$0.13 |
$0.17 |
$0.20 |
$0.22 |
$0.21 |
$0.22 |
$0.23 |
$0.12 |
$0.15 |
$0.24 |
$0.27 |
Weighted Average Diluted Shares Outstanding |
|
612.65M |
611.11M |
612.56M |
613.32M |
613.58M |
613.29M |
613.81M |
613.82M |
613.65M |
613.63M |
613.36M |
Weighted Average Basic & Diluted Shares Outstanding |
|
611.41M |
611.41M |
611.92M |
611.96M |
611.96M |
611.96M |
612.54M |
612.59M |
612.61M |
612.69M |
612.95M |
Cash Dividends to Common per Share |
|
$0.22 |
- |
$0.26 |
$0.26 |
$0.26 |
- |
$0.28 |
$0.28 |
$0.28 |
- |
$0.29 |
Annual Cash Flow Statements for Invitation Home
This table details how cash moves in and out of Invitation Home's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-11 |
-74 |
-3.65 |
-57 |
-74 |
126 |
407 |
-365 |
444 |
-478 |
Net Cash From Operating Activities |
|
197 |
256 |
263 |
561 |
662 |
697 |
908 |
1,024 |
1,107 |
1,082 |
Net Cash From Continuing Operating Activities |
|
197 |
256 |
263 |
561 |
658 |
697 |
908 |
1,029 |
1,107 |
1,082 |
Net Income / (Loss) Continuing Operations |
|
-160 |
-78 |
-106 |
-5.01 |
147 |
197 |
263 |
385 |
521 |
455 |
Consolidated Net Income / (Loss) |
|
-160 |
-78 |
-106 |
-5.01 |
147 |
197 |
263 |
385 |
521 |
455 |
Depreciation Expense |
|
250 |
268 |
310 |
561 |
534 |
553 |
592 |
638 |
674 |
714 |
Amortization Expense |
|
90 |
64 |
36 |
48 |
47 |
31 |
19 |
17 |
18 |
21 |
Non-Cash Adjustments to Reconcile Net Income |
|
32 |
2.48 |
52 |
4.91 |
-62 |
-38 |
8.62 |
0.16 |
-118 |
-130 |
Changes in Operating Assets and Liabilities, net |
|
-14 |
-0.34 |
-29 |
-47 |
-7.30 |
-46 |
25 |
-10 |
12 |
21 |
Net Cash From Investing Activities |
|
-860 |
-258 |
65 |
63 |
102 |
-425 |
-1,160 |
-814 |
-774 |
-466 |
Net Cash From Continuing Investing Activities |
|
-860 |
-258 |
65 |
63 |
102 |
-425 |
-1,160 |
-820 |
-774 |
-466 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-163 |
-107 |
-101 |
-46 |
-222 |
-271 |
-240 |
-330 |
-251 |
-250 |
Acquisitions |
|
- |
- |
- |
0.00 |
0.00 |
-16 |
-65 |
-168 |
-0.44 |
-44 |
Purchase of Investment Securities |
|
-909 |
-300 |
-326 |
-606 |
-581 |
-624 |
-1,148 |
-603 |
-1,030 |
-805 |
Sale and/or Maturity of Investments |
|
136 |
143 |
285 |
724 |
906 |
487 |
353 |
317 |
502 |
636 |
Other Investing Activities, net |
|
77 |
5.72 |
2.51 |
-9.27 |
-0.40 |
-0.91 |
-60 |
-35 |
6.37 |
-2.29 |
Net Cash From Financing Activities |
|
652 |
-72 |
-331 |
-681 |
-838 |
-146 |
659 |
-574 |
110 |
-1,094 |
Net Cash From Continuing Financing Activities |
|
652 |
-72 |
-331 |
-681 |
-838 |
1,289 |
659 |
-574 |
110 |
-1,094 |
Issuance of Debt |
|
3,417 |
185 |
3,496 |
4,519 |
888 |
2,820 |
2,338 |
1,453 |
940 |
2,994 |
Issuance of Common Equity |
|
0.00 |
0.00 |
1,692 |
0.00 |
55 |
687 |
934 |
98 |
0.00 |
0.00 |
Repayment of Debt |
|
-2,328 |
-392 |
-5,427 |
-4,957 |
-1,485 |
-1,862 |
-2,184 |
-1,555 |
-178 |
-3,380 |
Payment of Dividends |
|
-683 |
0.00 |
-69 |
-234 |
-277 |
-332 |
-394 |
-539 |
-638 |
-689 |
Other Financing Activities, Net |
|
245 |
136 |
-24 |
-9.25 |
-20 |
-24 |
-35 |
-32 |
-14 |
-19 |
Cash Interest Paid |
|
204 |
223 |
226 |
336 |
322 |
313 |
286 |
276 |
291 |
321 |
Cash Income Taxes Paid |
|
0.00 |
0.00 |
2.53 |
2.07 |
2.78 |
1.28 |
0.81 |
1.53 |
0.25 |
0.16 |
Quarterly Cash Flow Statements for Invitation Home
This table details how cash moves in and out of Invitation Home's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
36 |
-62 |
74 |
91 |
360 |
-82 |
50 |
16 |
282 |
-826 |
-101 |
Net Cash From Operating Activities |
|
352 |
120 |
318 |
281 |
421 |
88 |
266 |
370 |
314 |
133 |
301 |
Net Cash From Continuing Operating Activities |
|
358 |
120 |
318 |
281 |
421 |
88 |
266 |
370 |
314 |
133 |
301 |
Net Income / (Loss) Continuing Operations |
|
79 |
101 |
121 |
138 |
132 |
130 |
143 |
73 |
96 |
144 |
166 |
Consolidated Net Income / (Loss) |
|
79 |
101 |
121 |
138 |
132 |
130 |
143 |
73 |
96 |
144 |
166 |
Depreciation Expense |
|
160 |
163 |
165 |
166 |
171 |
173 |
175 |
177 |
180 |
182 |
183 |
Amortization Expense |
|
4.31 |
4.31 |
4.31 |
4.36 |
4.66 |
4.86 |
4.86 |
4.86 |
5.69 |
5.95 |
5.76 |
Non-Cash Adjustments to Reconcile Net Income |
|
-4.09 |
17 |
-15 |
-35 |
-38 |
-30 |
-33 |
-19 |
-14 |
-64 |
-58 |
Changes in Operating Assets and Liabilities, net |
|
118 |
-166 |
43 |
7.54 |
152 |
-190 |
-24 |
134 |
46 |
-135 |
3.56 |
Net Cash From Investing Activities |
|
-175 |
-58 |
-70 |
-22 |
-678 |
-3.96 |
-25 |
-175 |
-292 |
27 |
-114 |
Net Cash From Continuing Investing Activities |
|
-181 |
-58 |
-70 |
-22 |
-678 |
-3.96 |
-25 |
-175 |
-292 |
27 |
-114 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-93 |
-74 |
-55 |
-57 |
-69 |
-70 |
-53 |
-61 |
-77 |
-59 |
-58 |
Acquisitions |
|
-45 |
-1.14 |
-0.25 |
- |
-0.19 |
- |
-0.75 |
-38 |
-0.62 |
-4.64 |
-10 |
Purchase of Investment Securities |
|
-99 |
-71 |
-104 |
-66 |
-788 |
-73 |
-112 |
-159 |
-316 |
-219 |
-217 |
Sale and/or Maturity of Investments |
|
62 |
90 |
91 |
131 |
143 |
137 |
136 |
89 |
99 |
312 |
167 |
Other Investing Activities, net |
|
-6.51 |
-1.99 |
-1.08 |
-30 |
37 |
1.15 |
4.50 |
-6.52 |
1.50 |
-1.78 |
4.66 |
Net Cash From Financing Activities |
|
-140 |
-123 |
-174 |
-168 |
617 |
-166 |
-191 |
-179 |
261 |
-985 |
-287 |
Net Cash From Continuing Financing Activities |
|
-140 |
-123 |
-174 |
-168 |
617 |
-166 |
-191 |
-179 |
261 |
-985 |
-287 |
Issuance of Debt |
|
- |
575 |
- |
- |
- |
- |
- |
- |
- |
- |
100 |
Repayment of Debt |
|
-4.48 |
-563 |
-4.61 |
-6.16 |
-162 |
-5.32 |
-5.80 |
-4.73 |
-2,559 |
-811 |
-203 |
Payment of Dividends |
|
-135 |
-135 |
-160 |
-159 |
-159 |
-159 |
-173 |
-172 |
-172 |
-173 |
-178 |
Other Financing Activities, Net |
|
-1.13 |
-1.09 |
-8.69 |
-2.14 |
-1.29 |
-1.39 |
-12 |
-2.29 |
-2.79 |
-1.95 |
-6.07 |
Cash Interest Paid |
|
66 |
79 |
68 |
79 |
66 |
78 |
89 |
78 |
80 |
74 |
92 |
Cash Income Taxes Paid |
|
0.39 |
0.04 |
0.02 |
0.00 |
0.06 |
0.16 |
0.05 |
0.04 |
0.01 |
0.05 |
0.04 |
Annual Balance Sheets for Invitation Home
This table presents Invitation Home's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
9,732 |
18,684 |
18,063 |
17,393 |
17,506 |
18,538 |
18,537 |
19,221 |
18,701 |
Cash and Due from Banks |
|
198 |
180 |
145 |
92 |
213 |
610 |
263 |
701 |
174 |
Restricted Cash |
|
222 |
237 |
215 |
194 |
198 |
209 |
191 |
197 |
245 |
Trading Account Securities |
|
- |
- |
- |
55 |
69 |
130 |
281 |
247 |
242 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
9,003 |
17,312 |
16,686 |
16,243 |
16,289 |
16,935 |
17,030 |
17,289 |
17,212 |
Goodwill |
|
0.00 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
Other Assets |
|
310 |
697 |
759 |
550 |
478 |
395 |
514 |
529 |
569 |
Total Liabilities & Shareholders' Equity |
|
9,732 |
18,684 |
18,063 |
17,393 |
17,506 |
18,538 |
18,537 |
19,221 |
18,701 |
Total Liabilities |
|
7,775 |
10,034 |
9,694 |
9,127 |
8,950 |
8,699 |
8,213 |
9,031 |
8,908 |
Non-Interest Bearing Deposits |
|
87 |
147 |
149 |
148 |
158 |
165 |
176 |
180 |
181 |
Short-Term Debt |
|
0.00 |
35 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
570 |
Other Short-Term Payables |
|
88 |
193 |
170 |
186 |
- |
194 |
198 |
201 |
248 |
Long-Term Debt |
|
7,570 |
9,617 |
9,250 |
8,467 |
8,032 |
7,999 |
7,769 |
8,546 |
7,632 |
Other Long-Term Liabilities |
|
30 |
42 |
126 |
325 |
761 |
342 |
70 |
103 |
278 |
Commitments & Contingencies |
|
- |
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
1,957 |
8,650 |
8,369 |
8,266 |
8,556 |
9,839 |
10,324 |
10,190 |
9,793 |
Total Preferred & Common Equity |
|
1,957 |
8,498 |
8,229 |
8,214 |
8,505 |
9,798 |
10,291 |
10,156 |
9,757 |
Preferred Stock |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
1,957 |
8,498 |
8,229 |
8,214 |
8,505 |
9,798 |
10,291 |
10,156 |
9,757 |
Common Stock |
|
1,957 |
8,608 |
8,635 |
9,016 |
9,713 |
10,880 |
11,145 |
11,163 |
11,177 |
Retained Earnings |
|
- |
-158 |
-393 |
-525 |
-661 |
-795 |
-951 |
-1,071 |
-1,481 |
Accumulated Other Comprehensive Income / (Loss) |
|
- |
48 |
-13 |
-277 |
-547 |
-287 |
98 |
64 |
61 |
Noncontrolling Interest |
|
- |
152 |
140 |
52 |
51 |
41 |
32 |
34 |
36 |
Quarterly Balance Sheets for Invitation Home
This table presents Invitation Home's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Total Assets |
|
18,678 |
18,537 |
18,503 |
18,542 |
19,466 |
19,221 |
19,210 |
19,239 |
19,633 |
18,701 |
18,578 |
Cash and Due from Banks |
|
300 |
263 |
325 |
414 |
763 |
701 |
738 |
749 |
1,027 |
174 |
84 |
Restricted Cash |
|
216 |
191 |
203 |
205 |
217 |
197 |
209 |
214 |
218 |
245 |
234 |
Trading Account Securities |
|
287 |
281 |
273 |
267 |
258 |
247 |
238 |
269 |
245 |
242 |
242 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
17,109 |
17,030 |
16,914 |
16,790 |
17,400 |
17,289 |
17,187 |
17,165 |
17,285 |
17,212 |
17,203 |
Goodwill |
|
258 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
258 |
Other Assets |
|
508 |
514 |
530 |
607 |
570 |
529 |
579 |
584 |
600 |
569 |
556 |
Total Liabilities & Shareholders' Equity |
|
18,678 |
18,537 |
18,503 |
18,542 |
19,466 |
19,221 |
19,210 |
19,239 |
19,633 |
18,701 |
18,578 |
Total Liabilities |
|
8,332 |
8,213 |
8,251 |
8,260 |
9,197 |
9,031 |
9,040 |
9,173 |
9,681 |
8,908 |
8,823 |
Non-Interest Bearing Deposits |
|
173 |
176 |
177 |
177 |
180 |
180 |
180 |
180 |
180 |
181 |
184 |
Short-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
750 |
570 |
470 |
Other Short-Term Payables |
|
326 |
198 |
226 |
241 |
368 |
201 |
241 |
354 |
399 |
248 |
251 |
Long-Term Debt |
|
7,753 |
7,769 |
7,768 |
7,766 |
8,547 |
8,546 |
8,544 |
8,544 |
8,259 |
7,632 |
7,633 |
Other Long-Term Liabilities |
|
80 |
70 |
80 |
76 |
101 |
103 |
75 |
95 |
93 |
278 |
285 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
10,346 |
10,324 |
10,253 |
10,283 |
10,270 |
10,190 |
10,170 |
10,067 |
9,952 |
9,793 |
9,755 |
Total Preferred & Common Equity |
|
10,315 |
10,291 |
10,219 |
10,250 |
10,236 |
10,156 |
10,135 |
10,031 |
9,916 |
9,757 |
9,718 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
10,315 |
10,291 |
10,219 |
10,250 |
10,236 |
10,156 |
10,135 |
10,031 |
9,916 |
9,757 |
9,718 |
Common Stock |
|
11,139 |
11,145 |
11,143 |
11,148 |
11,156 |
11,163 |
11,160 |
11,166 |
11,170 |
11,177 |
11,181 |
Retained Earnings |
|
-916 |
-951 |
-989 |
-1,011 |
-1,040 |
-1,071 |
-1,100 |
-1,198 |
-1,276 |
-1,481 |
-1,494 |
Accumulated Other Comprehensive Income / (Loss) |
|
92 |
98 |
66 |
113 |
120 |
64 |
75 |
64 |
21 |
61 |
31 |
Noncontrolling Interest |
|
31 |
32 |
33 |
33 |
34 |
34 |
35 |
35 |
36 |
36 |
37 |
Annual Metrics And Ratios for Invitation Home
This table displays calculated financial ratios and metrics derived from Invitation Home's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
0.00% |
-150.87% |
378.79% |
67.95% |
4.34% |
5.11% |
13.96% |
33.70% |
8.68% |
7.67% |
EBITDA Growth |
|
0.00% |
-479.40% |
130.13% |
164.48% |
13.37% |
12.52% |
17.88% |
18.02% |
8.31% |
-2.03% |
EBIT Growth |
|
0.00% |
-538.72% |
86.37% |
55.57% |
163.54% |
189.01% |
85.61% |
49.88% |
13.60% |
-18.03% |
NOPAT Growth |
|
0.00% |
-538.72% |
86.37% |
55.57% |
190.77% |
189.01% |
85.61% |
49.88% |
13.60% |
-18.03% |
Net Income Growth |
|
0.00% |
51.16% |
-35.26% |
95.26% |
3,034.59% |
34.22% |
33.09% |
46.44% |
35.40% |
-12.60% |
EPS Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
2,800.00% |
29.63% |
28.57% |
40.00% |
34.92% |
-12.94% |
Operating Cash Flow Growth |
|
0.00% |
29.66% |
2.70% |
113.42% |
17.98% |
5.22% |
30.28% |
12.77% |
8.16% |
-2.28% |
Free Cash Flow Firm Growth |
|
0.00% |
0.00% |
13.37% |
107.21% |
44.61% |
-71.97% |
-501.13% |
105.74% |
-578.85% |
461.90% |
Invested Capital Growth |
|
0.00% |
0.00% |
92.09% |
-3.73% |
-5.03% |
-0.87% |
7.54% |
1.43% |
3.56% |
-3.96% |
Revenue Q/Q Growth |
|
0.00% |
0.00% |
2,073.15% |
24.45% |
1.43% |
0.88% |
4.52% |
19.45% |
9.01% |
16.98% |
EBITDA Q/Q Growth |
|
0.00% |
0.00% |
137.92% |
92.01% |
2.24% |
3.98% |
3.96% |
3.70% |
1.22% |
-2.67% |
EBIT Q/Q Growth |
|
0.00% |
0.00% |
83.83% |
78.94% |
114.58% |
12.71% |
19.76% |
4.92% |
0.65% |
-11.48% |
NOPAT Q/Q Growth |
|
0.00% |
0.00% |
86.69% |
78.94% |
48.51% |
17.89% |
20.79% |
8.92% |
1.90% |
-12.80% |
Net Income Q/Q Growth |
|
0.00% |
0.00% |
-23.02% |
93.50% |
22.32% |
10.39% |
1.44% |
7.24% |
5.91% |
3.09% |
EPS Q/Q Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
22.73% |
6.06% |
0.00% |
8.62% |
6.25% |
2.78% |
Operating Cash Flow Q/Q Growth |
|
0.00% |
0.00% |
-5.67% |
11.00% |
3.62% |
-0.03% |
6.36% |
-0.55% |
-2.82% |
4.37% |
Free Cash Flow Firm Q/Q Growth |
|
0.00% |
0.00% |
0.00% |
107.12% |
-23.81% |
-2.93% |
-107.54% |
112.60% |
21.92% |
437.46% |
Invested Capital Q/Q Growth |
|
0.00% |
0.00% |
97.93% |
-2.22% |
-0.59% |
-0.44% |
2.89% |
-0.04% |
-0.43% |
-5.09% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
32.14% |
0.00% |
25.91% |
40.80% |
44.33% |
47.45% |
49.08% |
43.33% |
43.18% |
39.29% |
EBIT Margin |
|
-28.34% |
0.00% |
-17.40% |
-4.60% |
2.80% |
7.71% |
12.55% |
14.07% |
14.71% |
11.20% |
Profit (Net Income) Margin |
|
-28.49% |
0.00% |
-13.27% |
-0.37% |
10.53% |
13.44% |
15.70% |
17.19% |
21.42% |
17.39% |
Tax Burden Percent |
|
98.60% |
7.67% |
75.74% |
9.17% |
332.12% |
174.40% |
128.61% |
126.70% |
146.62% |
190.32% |
Interest Burden Percent |
|
101.96% |
100.15% |
100.69% |
88.71% |
113.07% |
100.00% |
97.22% |
96.42% |
99.32% |
81.58% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
0.00% |
0.00% |
-0.70% |
-0.24% |
0.23% |
0.68% |
1.22% |
1.75% |
1.94% |
1.60% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
0.00% |
-0.80% |
0.16% |
1.45% |
1.70% |
1.88% |
2.64% |
3.94% |
3.53% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.00% |
-1.30% |
0.18% |
1.54% |
1.67% |
1.64% |
2.06% |
3.14% |
2.96% |
Return on Equity (ROE) |
|
0.00% |
-4.00% |
-2.00% |
-0.06% |
1.77% |
2.35% |
2.86% |
3.82% |
5.08% |
4.56% |
Cash Return on Invested Capital (CROIC) |
|
0.00% |
-214.96% |
-63.75% |
3.56% |
5.38% |
1.56% |
-6.04% |
0.33% |
-1.55% |
5.64% |
Operating Return on Assets (OROA) |
|
0.00% |
0.00% |
-0.98% |
-0.34% |
0.22% |
0.65% |
1.17% |
1.70% |
1.90% |
1.55% |
Return on Assets (ROA) |
|
0.00% |
0.00% |
-0.74% |
-0.03% |
0.83% |
1.13% |
1.46% |
2.08% |
2.76% |
2.40% |
Return on Common Equity (ROCE) |
|
0.00% |
-4.00% |
-1.97% |
-0.06% |
1.75% |
2.33% |
2.84% |
3.80% |
5.06% |
4.54% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
-4.00% |
-1.25% |
-0.06% |
1.79% |
2.32% |
2.68% |
3.74% |
5.13% |
4.67% |
Net Operating Profit after Tax (NOPAT) |
|
-112 |
-713 |
-97 |
-43 |
39 |
113 |
210 |
315 |
358 |
293 |
NOPAT Margin |
|
-19.84% |
0.00% |
-12.18% |
-3.22% |
2.80% |
7.71% |
12.55% |
14.07% |
14.71% |
11.20% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
-16.76% |
0.10% |
-0.40% |
-1.22% |
-1.02% |
-0.66% |
-0.89% |
-2.00% |
-1.94% |
SG&A Expenses to Revenue |
|
68.90% |
0.00% |
54.53% |
53.82% |
52.35% |
50.32% |
46.46% |
39.06% |
40.13% |
40.96% |
Operating Expenses to Revenue |
|
128.34% |
0.00% |
117.40% |
104.60% |
97.20% |
92.29% |
87.45% |
85.93% |
85.29% |
88.80% |
Earnings before Interest and Taxes (EBIT) |
|
-159 |
-1,018 |
-139 |
-62 |
39 |
113 |
210 |
315 |
358 |
293 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
181 |
-686 |
207 |
546 |
619 |
697 |
822 |
970 |
1,050 |
1,029 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.00 |
0.74 |
1.10 |
1.74 |
1.77 |
2.55 |
1.64 |
1.99 |
2.01 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.76 |
1.14 |
1.80 |
1.83 |
2.62 |
1.68 |
2.04 |
2.06 |
Price to Revenue (P/Rev) |
|
0.00 |
0.00 |
7.85 |
6.79 |
10.25 |
10.27 |
14.93 |
7.53 |
8.30 |
7.48 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
98.70 |
38.53 |
95.70 |
44.05 |
38.93 |
43.22 |
Dividend Yield |
|
0.00% |
0.00% |
1.09% |
2.52% |
1.96% |
2.23% |
1.62% |
3.19% |
4.00% |
3.53% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
1.01% |
2.60% |
1.05% |
2.27% |
2.57% |
2.31% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.00 |
0.85 |
1.03 |
1.35 |
1.37 |
1.81 |
1.34 |
1.49 |
1.52 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
0.00 |
19.62 |
13.53 |
16.14 |
15.49 |
19.24 |
10.81 |
11.46 |
10.46 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
0.00 |
75.72 |
33.16 |
36.40 |
32.65 |
39.20 |
24.96 |
26.54 |
26.63 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
575.64 |
200.99 |
153.26 |
76.84 |
77.92 |
93.43 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
575.64 |
200.99 |
153.26 |
76.84 |
77.92 |
93.43 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
59.49 |
32.29 |
34.06 |
32.66 |
35.48 |
23.64 |
25.18 |
25.33 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
28.34 |
24.39 |
87.79 |
0.00 |
405.25 |
0.00 |
26.48 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
3.87 |
1.12 |
1.11 |
1.02 |
0.94 |
0.81 |
0.75 |
0.84 |
0.84 |
Long-Term Debt to Equity |
|
0.00 |
3.87 |
1.11 |
1.11 |
1.02 |
0.94 |
0.81 |
0.75 |
0.84 |
0.78 |
Financial Leverage |
|
0.00 |
3.87 |
1.62 |
1.11 |
1.07 |
0.98 |
0.87 |
0.78 |
0.80 |
0.84 |
Leverage Ratio |
|
0.00 |
4.97 |
2.68 |
2.16 |
2.13 |
2.07 |
1.96 |
1.84 |
1.84 |
1.90 |
Compound Leverage Factor |
|
0.00 |
4.98 |
2.70 |
1.92 |
2.41 |
2.07 |
1.91 |
1.77 |
1.83 |
1.55 |
Debt to Total Capital |
|
0.00% |
79.46% |
52.74% |
52.50% |
50.60% |
48.42% |
44.84% |
42.94% |
45.61% |
45.58% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.19% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
3.17% |
Long-Term Debt to Total Capital |
|
0.00% |
79.46% |
52.55% |
52.50% |
50.60% |
48.42% |
44.84% |
42.94% |
45.61% |
42.41% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.83% |
0.80% |
0.31% |
0.31% |
0.23% |
0.18% |
0.18% |
0.20% |
Common Equity to Total Capital |
|
0.00% |
20.54% |
46.43% |
46.71% |
49.09% |
51.27% |
54.93% |
56.88% |
54.20% |
54.22% |
Debt to EBITDA |
|
0.00 |
-11.04 |
46.71 |
16.93 |
13.67 |
11.52 |
9.73 |
8.01 |
8.14 |
7.97 |
Net Debt to EBITDA |
|
0.00 |
-10.43 |
44.70 |
16.27 |
13.21 |
10.93 |
8.74 |
7.54 |
7.28 |
7.56 |
Long-Term Debt to EBITDA |
|
0.00 |
-11.04 |
46.54 |
16.93 |
13.67 |
11.52 |
9.73 |
8.01 |
8.14 |
7.42 |
Debt to NOPAT |
|
0.00 |
-10.62 |
-99.36 |
-214.33 |
216.15 |
70.94 |
38.06 |
24.67 |
23.89 |
27.97 |
Net Debt to NOPAT |
|
0.00 |
-10.04 |
-95.08 |
-205.99 |
208.84 |
67.30 |
34.17 |
23.23 |
21.38 |
26.54 |
Long-Term Debt to NOPAT |
|
0.00 |
-10.62 |
-99.00 |
-214.33 |
216.15 |
70.94 |
38.06 |
24.67 |
23.89 |
26.02 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
1.43% |
1.71% |
1.15% |
0.61% |
0.50% |
0.36% |
0.33% |
0.35% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
0.00 |
-10,240 |
-8,871 |
639 |
925 |
259 |
-1,040 |
60 |
-286 |
1,035 |
Operating Cash Flow to CapEx |
|
121.10% |
240.21% |
260.16% |
1,227.21% |
298.69% |
257.04% |
377.81% |
309.76% |
440.53% |
432.72% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-35.80 |
-34.52 |
1.67 |
2.52 |
0.73 |
-3.22 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.72 |
0.90 |
1.02 |
1.46 |
1.80 |
1.97 |
2.81 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.13 |
0.52 |
0.63 |
1.34 |
1.20 |
1.20 |
2.07 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.00 |
0.00 |
0.06 |
0.07 |
0.08 |
0.08 |
0.09 |
0.12 |
0.13 |
0.14 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.06 |
0.08 |
0.08 |
0.09 |
0.10 |
0.13 |
0.14 |
0.15 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
0.00 |
9,528 |
18,302 |
17,619 |
16,734 |
16,588 |
17,837 |
18,093 |
18,736 |
17,995 |
Invested Capital Turnover |
|
0.00 |
0.00 |
0.06 |
0.07 |
0.08 |
0.09 |
0.10 |
0.12 |
0.13 |
0.14 |
Increase / (Decrease) in Invested Capital |
|
0.00 |
9,528 |
8,774 |
-683 |
-885 |
-146 |
1,250 |
255 |
644 |
-742 |
Enterprise Value (EV) |
|
0.00 |
0.00 |
15,644 |
18,122 |
22,551 |
22,756 |
32,207 |
24,202 |
27,879 |
27,403 |
Market Capitalization |
|
0.00 |
0.00 |
6,258 |
9,092 |
14,318 |
15,085 |
24,986 |
16,855 |
20,195 |
19,585 |
Book Value per Share |
|
$0.00 |
$0.00 |
$27.29 |
$15.81 |
$15.26 |
$15.17 |
$16.42 |
$16.83 |
$16.60 |
$15.93 |
Tangible Book Value per Share |
|
$0.00 |
$0.00 |
$26.46 |
$15.31 |
$14.78 |
$14.71 |
$15.99 |
$16.41 |
$16.17 |
$15.51 |
Total Capital |
|
0.00 |
9,528 |
18,302 |
17,619 |
16,734 |
16,588 |
17,837 |
18,093 |
18,736 |
17,995 |
Total Debt |
|
0.00 |
7,570 |
9,652 |
9,250 |
8,467 |
8,032 |
7,999 |
7,769 |
8,546 |
8,202 |
Total Long-Term Debt |
|
0.00 |
7,570 |
9,617 |
9,250 |
8,467 |
8,032 |
7,999 |
7,769 |
8,546 |
7,632 |
Net Debt |
|
0.00 |
7,150 |
9,235 |
8,890 |
8,181 |
7,620 |
7,180 |
7,315 |
7,649 |
7,783 |
Capital Expenditures (CapEx) |
|
163 |
107 |
101 |
46 |
222 |
271 |
240 |
330 |
251 |
250 |
Net Nonoperating Expense (NNE) |
|
49 |
-634 |
8.69 |
-38 |
-108 |
-84 |
-53 |
-70 |
-163 |
-162 |
Net Nonoperating Obligations (NNO) |
|
0.00 |
7,570 |
9,652 |
9,250 |
8,467 |
8,032 |
7,999 |
7,769 |
8,546 |
8,202 |
Total Depreciation and Amortization (D&A) |
|
340 |
332 |
345 |
608 |
580 |
584 |
612 |
655 |
692 |
736 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
($0.01) |
$0.27 |
$0.35 |
$0.45 |
$0.63 |
$0.85 |
$0.74 |
Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
0.00 |
520.36M |
521.19M |
531.24M |
553.99M |
577.68M |
609.77M |
611.89M |
612.55M |
Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
($0.01) |
$0.27 |
$0.35 |
$0.45 |
$0.63 |
$0.85 |
$0.74 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
0.00 |
520.36M |
521.19M |
532.50M |
555.46M |
579.21M |
611.11M |
613.29M |
613.63M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
($0.01) |
$0.27 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
0.00 |
520.36M |
520.38M |
541.88M |
567.22M |
607.65M |
611.41M |
611.96M |
612.69M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-108 |
-710 |
-80 |
-29 |
41 |
80 |
160 |
243 |
256 |
263 |
Normalized NOPAT Margin |
|
-19.27% |
0.00% |
-10.07% |
-2.13% |
2.90% |
5.43% |
9.54% |
10.87% |
10.53% |
10.03% |
Pre Tax Income Margin |
|
-28.89% |
0.00% |
-17.52% |
-4.08% |
3.17% |
7.71% |
12.21% |
13.57% |
14.61% |
9.14% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-0.58 |
-3.56 |
-0.54 |
-0.16 |
0.11 |
0.32 |
0.65 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
-0.41 |
-2.49 |
-0.38 |
-0.11 |
0.11 |
0.32 |
0.65 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
-1.18 |
-3.93 |
-0.93 |
-0.28 |
-0.50 |
-0.45 |
-0.09 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
-1.00 |
-2.86 |
-0.77 |
-0.23 |
-0.50 |
-0.45 |
-0.09 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
-426.07% |
0.00% |
-65.20% |
-4,669.70% |
188.08% |
168.22% |
149.87% |
140.08% |
122.48% |
151.36% |
Augmented Payout Ratio |
|
-426.07% |
0.00% |
-65.20% |
-4,669.70% |
188.08% |
168.22% |
149.87% |
140.08% |
122.48% |
151.36% |
Quarterly Metrics And Ratios for Invitation Home
This table displays calculated financial ratios and metrics derived from Invitation Home's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
14.43% |
82.61% |
11.78% |
24.44% |
25.49% |
-12.81% |
8.67% |
8.84% |
6.90% |
6.64% |
4.40% |
EBITDA Growth |
|
5.84% |
16.27% |
10.86% |
5.43% |
12.24% |
5.13% |
2.29% |
0.96% |
-0.69% |
-10.83% |
5.80% |
EBIT Growth |
|
12.02% |
22.68% |
21.10% |
6.88% |
27.00% |
2.87% |
-5.29% |
-9.06% |
-15.33% |
-46.29% |
7.67% |
NOPAT Growth |
|
12.02% |
18.24% |
21.10% |
6.88% |
27.00% |
5.51% |
-5.29% |
-9.06% |
-15.33% |
-113.70% |
7.67% |
Net Income Growth |
|
14.29% |
34.71% |
29.66% |
24.01% |
66.46% |
28.83% |
18.41% |
-46.90% |
-27.71% |
10.49% |
16.46% |
EPS Growth |
|
8.33% |
41.67% |
33.33% |
22.22% |
61.54% |
29.41% |
15.00% |
-45.45% |
-28.57% |
9.09% |
17.39% |
Operating Cash Flow Growth |
|
12.71% |
-4.55% |
35.21% |
-11.38% |
19.58% |
-26.83% |
-16.43% |
31.62% |
-25.47% |
51.70% |
13.15% |
Free Cash Flow Firm Growth |
|
-13.14% |
84.95% |
111.65% |
106.45% |
9.03% |
-215.53% |
-484.36% |
-660.42% |
88.32% |
229.86% |
258.42% |
Invested Capital Growth |
|
4.40% |
1.43% |
-0.33% |
0.07% |
3.96% |
3.56% |
3.85% |
3.12% |
0.76% |
-3.96% |
-4.57% |
Revenue Q/Q Growth |
|
2.02% |
63.65% |
2.08% |
17.30% |
2.89% |
13.71% |
22.07% |
17.49% |
1.05% |
13.43% |
-9.95% |
EBITDA Q/Q Growth |
|
-9.43% |
7.86% |
7.31% |
0.57% |
-3.57% |
1.02% |
4.21% |
-0.73% |
-5.15% |
-9.30% |
23.88% |
EBIT Q/Q Growth |
|
-28.67% |
23.40% |
20.95% |
0.39% |
-15.24% |
-0.04% |
10.68% |
-3.61% |
-21.08% |
-36.60% |
123.23% |
NOPAT Q/Q Growth |
|
-28.67% |
18.93% |
25.49% |
0.39% |
-15.24% |
-1.19% |
8.59% |
-3.61% |
-21.08% |
-115.99% |
985.05% |
Net Income Q/Q Growth |
|
-28.77% |
26.98% |
19.55% |
14.68% |
-4.38% |
-1.72% |
9.89% |
-48.57% |
30.16% |
50.21% |
15.82% |
EPS Q/Q Growth |
|
-27.78% |
30.77% |
17.65% |
10.00% |
-4.55% |
4.76% |
4.55% |
-47.83% |
25.00% |
60.00% |
12.50% |
Operating Cash Flow Q/Q Growth |
|
11.00% |
-66.00% |
165.62% |
-11.59% |
49.78% |
-79.20% |
203.37% |
39.24% |
-15.19% |
-57.65% |
126.28% |
Free Cash Flow Firm Q/Q Growth |
|
46.74% |
74.47% |
187.91% |
-46.03% |
-850.96% |
11.44% |
-7.67% |
21.31% |
84.35% |
1,084.50% |
30.65% |
Invested Capital Q/Q Growth |
|
0.35% |
-0.04% |
-0.40% |
0.15% |
4.26% |
-0.43% |
-0.12% |
-0.56% |
1.88% |
-5.09% |
-0.76% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
46.61% |
30.72% |
51.88% |
44.48% |
41.69% |
37.04% |
48.84% |
41.26% |
38.73% |
30.97% |
42.61% |
EBIT Margin |
|
13.14% |
9.91% |
18.87% |
16.15% |
13.30% |
11.69% |
16.44% |
13.49% |
10.54% |
5.89% |
14.60% |
Profit (Net Income) Margin |
|
16.14% |
12.52% |
23.56% |
23.03% |
21.41% |
18.50% |
25.67% |
11.24% |
14.47% |
19.17% |
24.65% |
Tax Burden Percent |
|
141.02% |
131.08% |
126.84% |
142.65% |
160.92% |
160.05% |
146.56% |
83.30% |
137.38% |
-903.30% |
166.56% |
Interest Burden Percent |
|
87.06% |
96.38% |
98.45% |
100.00% |
100.00% |
98.85% |
106.53% |
100.00% |
100.00% |
-36.03% |
101.39% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
1.39% |
1.19% |
2.08% |
1.88% |
1.61% |
1.53% |
1.92% |
1.62% |
1.25% |
-0.21% |
2.11% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
1.58% |
1.49% |
2.39% |
2.42% |
2.22% |
2.12% |
2.55% |
1.44% |
1.55% |
1.64% |
2.93% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.24% |
1.17% |
1.82% |
1.82% |
1.76% |
1.69% |
2.04% |
1.15% |
1.34% |
1.37% |
2.45% |
Return on Equity (ROE) |
|
2.63% |
2.36% |
3.90% |
3.71% |
3.37% |
3.22% |
3.95% |
2.77% |
2.59% |
1.16% |
4.56% |
Cash Return on Invested Capital (CROIC) |
|
-2.67% |
0.33% |
2.10% |
1.73% |
-1.98% |
-1.55% |
-1.86% |
-1.16% |
1.02% |
5.64% |
6.32% |
Operating Return on Assets (OROA) |
|
1.33% |
1.20% |
2.02% |
1.84% |
1.56% |
1.51% |
1.87% |
1.57% |
1.21% |
0.81% |
2.05% |
Return on Assets (ROA) |
|
1.64% |
1.51% |
2.53% |
2.62% |
2.50% |
2.38% |
2.92% |
1.31% |
1.66% |
2.65% |
3.45% |
Return on Common Equity (ROCE) |
|
2.62% |
2.35% |
3.88% |
3.70% |
3.35% |
3.21% |
3.94% |
2.76% |
2.58% |
1.15% |
4.54% |
Return on Equity Simple (ROE_SIMPLE) |
|
3.48% |
0.00% |
4.04% |
4.28% |
4.81% |
0.00% |
5.36% |
4.77% |
4.45% |
0.00% |
4.93% |
Net Operating Profit after Tax (NOPAT) |
|
65 |
77 |
97 |
97 |
82 |
81 |
91 |
88 |
70 |
-11 |
98 |
NOPAT Margin |
|
13.14% |
9.55% |
18.87% |
16.15% |
13.30% |
11.56% |
16.44% |
13.49% |
10.54% |
-1.49% |
14.60% |
Net Nonoperating Expense Percent (NNEP) |
|
-0.19% |
-0.30% |
-0.31% |
-0.53% |
-0.61% |
-0.60% |
-0.63% |
0.18% |
-0.30% |
-1.85% |
-0.81% |
SG&A Expenses to Revenue |
|
45.95% |
28.85% |
45.34% |
39.54% |
40.94% |
36.13% |
47.04% |
40.83% |
41.89% |
35.74% |
40.65% |
Operating Expenses to Revenue |
|
86.86% |
90.09% |
81.13% |
83.85% |
86.70% |
88.31% |
83.56% |
86.51% |
89.46% |
94.11% |
85.40% |
Earnings before Interest and Taxes (EBIT) |
|
65 |
80 |
97 |
97 |
82 |
82 |
91 |
88 |
70 |
44 |
98 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
229 |
247 |
266 |
267 |
258 |
260 |
272 |
270 |
256 |
232 |
287 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.88 |
1.64 |
1.78 |
1.97 |
1.82 |
1.99 |
2.13 |
2.19 |
2.18 |
2.01 |
2.20 |
Price to Tangible Book Value (P/TBV) |
|
1.92 |
1.68 |
1.83 |
2.02 |
1.87 |
2.04 |
2.19 |
2.25 |
2.24 |
2.06 |
2.26 |
Price to Revenue (P/Rev) |
|
10.33 |
7.53 |
9.16 |
9.60 |
8.35 |
8.30 |
10.09 |
10.01 |
9.65 |
7.48 |
8.07 |
Price to Earnings (P/E) |
|
43.09 |
44.05 |
57.26 |
58.67 |
46.88 |
38.93 |
39.97 |
46.17 |
49.14 |
43.22 |
44.81 |
Dividend Yield |
|
2.62% |
3.19% |
3.09% |
2.90% |
3.29% |
4.00% |
3.79% |
3.79% |
3.91% |
3.53% |
3.27% |
Earnings Yield |
|
2.32% |
2.27% |
1.75% |
1.70% |
2.13% |
2.57% |
2.50% |
2.17% |
2.04% |
2.31% |
2.23% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.47 |
1.34 |
1.41 |
1.52 |
1.39 |
1.49 |
1.56 |
1.59 |
1.55 |
1.52 |
1.63 |
Enterprise Value to Revenue (EV/Rev) |
|
14.21 |
10.81 |
12.82 |
13.01 |
11.75 |
11.46 |
13.65 |
13.48 |
13.13 |
10.46 |
11.02 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
28.47 |
24.96 |
25.59 |
27.14 |
25.27 |
26.54 |
27.69 |
27.95 |
27.81 |
26.63 |
27.92 |
Enterprise Value to EBIT (EV/EBIT) |
|
88.69 |
76.84 |
76.79 |
81.06 |
73.77 |
77.92 |
82.94 |
86.07 |
88.74 |
93.43 |
97.15 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
92.07 |
76.84 |
79.86 |
84.24 |
74.69 |
77.92 |
82.94 |
84.83 |
87.41 |
93.43 |
97.15 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
25.87 |
23.64 |
23.03 |
25.60 |
23.02 |
25.18 |
27.73 |
25.88 |
28.36 |
25.33 |
26.12 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
405.25 |
67.18 |
87.56 |
0.00 |
0.00 |
0.00 |
0.00 |
152.67 |
26.48 |
25.23 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.75 |
0.75 |
0.76 |
0.76 |
0.83 |
0.84 |
0.84 |
0.85 |
0.91 |
0.84 |
0.83 |
Long-Term Debt to Equity |
|
0.75 |
0.75 |
0.76 |
0.76 |
0.83 |
0.84 |
0.84 |
0.85 |
0.83 |
0.78 |
0.78 |
Financial Leverage |
|
0.78 |
0.78 |
0.76 |
0.75 |
0.79 |
0.80 |
0.80 |
0.80 |
0.87 |
0.84 |
0.84 |
Leverage Ratio |
|
1.86 |
1.84 |
1.81 |
1.80 |
1.85 |
1.84 |
1.85 |
1.86 |
1.93 |
1.90 |
1.90 |
Compound Leverage Factor |
|
1.62 |
1.77 |
1.78 |
1.80 |
1.85 |
1.82 |
1.97 |
1.86 |
1.93 |
-0.68 |
1.92 |
Debt to Total Capital |
|
42.84% |
42.94% |
43.11% |
43.03% |
45.42% |
45.61% |
45.66% |
45.91% |
47.51% |
45.58% |
45.38% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
3.96% |
3.17% |
2.63% |
Long-Term Debt to Total Capital |
|
42.84% |
42.94% |
43.11% |
43.03% |
45.42% |
45.61% |
45.66% |
45.91% |
43.56% |
42.41% |
42.74% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.17% |
0.18% |
0.18% |
0.18% |
0.18% |
0.18% |
0.19% |
0.19% |
0.19% |
0.20% |
0.20% |
Common Equity to Total Capital |
|
56.99% |
56.88% |
56.71% |
56.79% |
54.40% |
54.20% |
54.15% |
53.90% |
52.30% |
54.22% |
54.42% |
Debt to EBITDA |
|
8.29 |
8.01 |
7.80 |
7.69 |
8.24 |
8.14 |
8.09 |
8.07 |
8.52 |
7.97 |
7.76 |
Net Debt to EBITDA |
|
7.74 |
7.54 |
7.27 |
7.08 |
7.29 |
7.28 |
7.19 |
7.16 |
7.34 |
7.56 |
7.45 |
Long-Term Debt to EBITDA |
|
8.29 |
8.01 |
7.80 |
7.69 |
8.24 |
8.14 |
8.09 |
8.07 |
7.81 |
7.42 |
7.31 |
Debt to NOPAT |
|
26.81 |
24.67 |
24.35 |
23.87 |
24.34 |
23.89 |
24.23 |
24.49 |
26.78 |
27.97 |
26.98 |
Net Debt to NOPAT |
|
25.03 |
23.23 |
22.69 |
21.97 |
21.55 |
21.38 |
21.54 |
21.72 |
23.08 |
26.54 |
25.92 |
Long-Term Debt to NOPAT |
|
26.81 |
24.67 |
24.35 |
23.87 |
24.34 |
23.89 |
24.23 |
24.49 |
24.55 |
26.02 |
25.42 |
Noncontrolling Interest Sharing Ratio |
|
0.36% |
0.36% |
0.37% |
0.37% |
0.32% |
0.33% |
0.34% |
0.33% |
0.34% |
0.35% |
0.36% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-698 |
-178 |
157 |
85 |
-635 |
-563 |
-602 |
-474 |
-74 |
731 |
954 |
Operating Cash Flow to CapEx |
|
379.04% |
162.70% |
574.35% |
493.13% |
609.21% |
125.19% |
501.53% |
610.04% |
407.64% |
223.24% |
517.05% |
Free Cash Flow to Firm to Interest Expense |
|
-9.13 |
0.00 |
2.01 |
0.00 |
0.00 |
0.00 |
-6.71 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
4.60 |
0.00 |
4.07 |
0.00 |
0.00 |
0.00 |
2.96 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
3.39 |
0.00 |
3.36 |
0.00 |
0.00 |
0.00 |
2.37 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.10 |
0.12 |
0.11 |
0.11 |
0.12 |
0.13 |
0.11 |
0.12 |
0.11 |
0.14 |
0.14 |
Fixed Asset Turnover |
|
0.11 |
0.13 |
0.12 |
0.12 |
0.13 |
0.14 |
0.13 |
0.13 |
0.13 |
0.15 |
0.15 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
18,099 |
18,093 |
18,021 |
18,048 |
18,817 |
18,736 |
18,714 |
18,610 |
18,961 |
17,995 |
17,858 |
Invested Capital Turnover |
|
0.11 |
0.12 |
0.11 |
0.12 |
0.12 |
0.13 |
0.12 |
0.12 |
0.12 |
0.14 |
0.14 |
Increase / (Decrease) in Invested Capital |
|
763 |
255 |
-60 |
12 |
717 |
644 |
694 |
562 |
144 |
-742 |
-856 |
Enterprise Value (EV) |
|
26,626 |
24,202 |
25,478 |
27,401 |
26,224 |
27,879 |
29,250 |
29,600 |
29,399 |
27,403 |
29,174 |
Market Capitalization |
|
19,357 |
16,855 |
18,205 |
20,223 |
18,623 |
20,195 |
21,618 |
21,984 |
21,600 |
19,585 |
21,352 |
Book Value per Share |
|
$16.90 |
$16.83 |
$16.71 |
$16.75 |
$16.73 |
$16.60 |
$16.55 |
$16.38 |
$16.19 |
$15.93 |
$15.86 |
Tangible Book Value per Share |
|
$16.48 |
$16.41 |
$16.29 |
$16.33 |
$16.30 |
$16.17 |
$16.13 |
$15.96 |
$15.77 |
$15.51 |
$15.44 |
Total Capital |
|
18,099 |
18,093 |
18,021 |
18,048 |
18,817 |
18,736 |
18,714 |
18,610 |
18,961 |
17,995 |
17,858 |
Total Debt |
|
7,753 |
7,769 |
7,768 |
7,766 |
8,547 |
8,546 |
8,544 |
8,544 |
9,009 |
8,202 |
8,103 |
Total Long-Term Debt |
|
7,753 |
7,769 |
7,768 |
7,766 |
8,547 |
8,546 |
8,544 |
8,544 |
8,259 |
7,632 |
7,633 |
Net Debt |
|
7,237 |
7,315 |
7,240 |
7,146 |
7,567 |
7,649 |
7,597 |
7,581 |
7,763 |
7,783 |
7,785 |
Capital Expenditures (CapEx) |
|
93 |
74 |
55 |
57 |
69 |
70 |
53 |
61 |
77 |
59 |
58 |
Net Nonoperating Expense (NNE) |
|
-15 |
-24 |
-24 |
-41 |
-50 |
-49 |
-51 |
15 |
-26 |
-155 |
-68 |
Net Nonoperating Obligations (NNO) |
|
7,753 |
7,769 |
7,768 |
7,766 |
8,547 |
8,546 |
8,544 |
8,544 |
9,009 |
8,202 |
8,103 |
Total Depreciation and Amortization (D&A) |
|
165 |
168 |
169 |
170 |
175 |
178 |
180 |
181 |
186 |
188 |
189 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.13 |
$0.17 |
$0.20 |
$0.23 |
$0.22 |
$0.20 |
$0.23 |
$0.12 |
$0.16 |
$0.23 |
$0.27 |
Adjusted Weighted Average Basic Shares Outstanding |
|
610.85M |
609.77M |
611.59M |
611.95M |
612.00M |
611.89M |
612.22M |
612.63M |
612.67M |
612.55M |
612.78M |
Adjusted Diluted Earnings per Share |
|
$0.13 |
$0.17 |
$0.20 |
$0.22 |
$0.21 |
$0.22 |
$0.23 |
$0.12 |
$0.15 |
$0.24 |
$0.27 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
612.65M |
611.11M |
612.56M |
613.32M |
613.58M |
613.29M |
613.81M |
613.82M |
613.65M |
613.63M |
613.36M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
611.41M |
611.41M |
611.92M |
611.96M |
611.96M |
611.96M |
612.54M |
612.59M |
612.61M |
612.69M |
612.95M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
60 |
58 |
68 |
69 |
59 |
59 |
67 |
69 |
63 |
22 |
72 |
Normalized NOPAT Margin |
|
12.16% |
7.19% |
13.35% |
11.52% |
9.59% |
8.40% |
12.06% |
10.55% |
9.59% |
2.96% |
10.73% |
Pre Tax Income Margin |
|
11.44% |
9.55% |
18.57% |
16.15% |
13.30% |
11.56% |
17.52% |
13.49% |
10.54% |
-2.12% |
14.80% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.85 |
0.00 |
1.24 |
0.00 |
0.00 |
0.00 |
1.02 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.85 |
0.00 |
1.24 |
0.00 |
0.00 |
0.00 |
1.02 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
-0.37 |
0.00 |
0.53 |
0.00 |
0.00 |
0.00 |
0.43 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
-0.37 |
0.00 |
0.53 |
0.00 |
0.00 |
0.00 |
0.43 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
141.04% |
140.08% |
136.89% |
134.07% |
124.71% |
122.48% |
119.85% |
138.70% |
153.02% |
151.36% |
144.98% |
Augmented Payout Ratio |
|
141.04% |
140.08% |
136.89% |
134.07% |
124.71% |
122.48% |
119.85% |
138.70% |
153.02% |
151.36% |
144.98% |
Key Financial Trends
Invitation Homes Inc. (NYSE: INVH) Financial Overview and Trends (Q3 2022 - Q1 2025)
Invitation Homes, a leading residential real estate investment trust (REIT), has shown several notable financial trends over the last four years. Below is a summary of key findings from its Income Statements, Cash Flow Statements, and Balance Sheets.
- Revenue Growth and Stability: Total revenue, combining interest and non-interest income, generally increased from approximately $492 million in Q3 2022 to around $674 million in Q1 2025. This shows solid growth driven by non-interest income, which consistently comprises the majority of the top line.
- Net Income Growth: Consolidated net income attributable to common shareholders improved from $131.6 million in Q3 2023 to $165.5 million in Q1 2025. Diluted EPS showed consistent growth from $0.13-$0.22 range in 2022 to $0.27 in Q1 2025.
- Operating Cash Flow Strength: Net cash from operating activities increased significantly, for example showing $317.8 million in Q1 2023 rising to over $300 million in Q1 2025 per quarter. Positive operating cash flow supports dividend payments and capital expenditures.
- Dividend Payouts: The company consistently paid quarterly dividends, increasing from $0.22-$0.28/share in 2022-2024 to $0.29/share in Q1 2025, indicating commitment to shareholder returns.
- Stable Property Asset Base: Premises and equipment net values remained stable at around $17 billion, demonstrating sustained asset base with continued property investments.
- Debt Management: Long-term debt remained roughly stable around $7.6 - $8.5 billion over four years. Short-term debt fluctuated but increased recently to $470 million in Q1 2025, indicating ongoing refinancing or working capital needs.
- Liquidity Position: Cash and due from banks showed variability - from $325 million in early 2023 down to $85 million in Q1 2025. Restricted cash was steady around $200-$230 million, supporting operational needs.
- Expense Pressure - Operating Costs Rise: Total non-interest expenses increased from $415 million in Q1 2023 to over $576 million in Q1 2025, driven largely by occupancy & equipment expenses and higher other operating costs, pressuring margins.
- Impairment Charges: The company faced recurring impairment expenses, notably a large $47.6 million charge in Q4 2024, with smaller charges in other quarters, which negatively affected profitability.
- Decline in Nonoperating Income & Special Charges: Other gains/losses fluctuated, including a -$5.2 million impact in Q1 2025 and sizeable special charges in Q4 2024, contributing to income volatility.
Summary: Invitation Homes has demonstrated growth in net income, revenue, and operating cash flow, reflecting strong operational execution in its portfolio of residential rental homes. The company continues to invest in property assets and maintain steady dividend payouts, which should be attractive to income-focused investors.
However, rising operating expenses and impairment charges have pressured earnings at times, and the steady but significant long-term debt level suggests careful capital management is necessary. Fluctuations in cash balances and short-term debt hint at refinancing activity or working capital variability.
Retail investors should consider Invitation Homes as a stable REIT with improving earnings and cash flow fundamentals, balanced against some risks of expense growth and moderate leverage. The company’s commitment to dividends combined with controlled asset growth supports a positive long-term outlook.
08/23/25 06:52 AMAI Generated. May Contain Errors.