Invitation Home (INVH) Financials

$28.18 +0.04 (+0.14%)

Closing price 10/8/2025 03:59 PM Eastern

Extended Trading

$28.04 -0.14 (-0.50%)

As of 04:34 AM Eastern

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.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	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	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-160	-78	-105	-5.74	145	392	261	383	519	453
Consolidated Net Income / (Loss)	-160	-78	-106	-5.01	147	197	263	385	521	455
Net Income / (Loss) Continuing Operations	-162	-1,019	-140	-55	51	197	203	294	337	211
Total Pre-Tax Income	-162	-1,019	-140	-55	44	113	204	304	355	239
Total Revenue	562	-286	797	1,339	1,398	1,469	1,674	2,238	2,432	2,619
Net Interest Income / (Expense)	-274	-286	-257	-384	-367	-354	-323	0.00	0.00	0.00
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	274	286	257	384	367	354	323	0.00	0.00	0.00
Total Non-Interest Income	836	0.00	1,054	1,723	1,765	1,823	1,997	2,238	2,432	2,619
Other Service Charges	36	-	1,054	1,723	-	1,823	4.89	11	14	70
Other Non-Interest Income	800	-	-	-	1,765	0.00	1,992	2,227	2,419	2,549
Total Non-Interest Expense	722	732	936	1,401	1,358	1,356	1,464	1,923	2,074	2,326
Net Occupancy & Equipment Expense	387	391	435	721	732	739	778	874	976	1,073
Other Operating Expenses	79	69	168	99	74	63	76	378	416	457
Depreciation Expense	250	268	310	561	534	553	592	638	674	714
Impairment Charge	4.58	4.21	24	21	19	0.70	8.68	29	8.60	83
Other Special Charges	-	-	-	-	-	-	9.42	3.94	-0.35	-1.05
Nonoperating Income / (Expense), net	-3.12	-1.56	-0.96	6.96	5.12	-	-5.84	-11	-2.44	-54
Other Gains / (Losses), net	-	-	-	-	6.48	84	-1.55	-9.61	-18	-28
Other Adjustments to Consolidated Net Income / (Loss)	2.27	941	34	50	96	-	60	91	184	245
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	-0.49	0.73	2.04	1.69	1.68	2.13	2.25	2.20
Basic Earnings per Share	-	-	-	($0.01)	$0.27	$0.35	$0.45	$0.63	$0.85	$0.74
Weighted Average Basic Shares Outstanding	-	-	520.36M	520.38M	531.24M	553.99M	577.68M	609.77M	611.89M	612.55M
Diluted Earnings per Share	-	-	-	($0.01)	$0.27	$0.35	$0.45	$0.63	$0.85	$0.74
Weighted Average Diluted Shares Outstanding	-	-	520.36M	520.38M	532.50M	555.46M	579.21M	611.11M	613.29M	613.63M
Weighted Average Basic & Diluted Shares Outstanding	-	-	520.36M	520.38M	541.88M	567.22M	607.65M	611.41M	611.96M	612.69M
Cash Dividends to Common per Share	-	-	$0.22	$0.44	$0.52	$0.60	$0.68	$0.88	$1.04	$1.12

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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

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
Period end date	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	12/31/2024
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

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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

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
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
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

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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

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
Period end date	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	12/31/2024
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%

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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%

Financials Breakdown Chart

Key Financial Trends

Invitation Homes (NYSE: INVH) has demonstrated several key financial trends over the past four years, especially when comparing the latest quarter (Q1 2025) with previous periods back to 2022. Below are the most notable points organized by their positive, neutral, and negative potential impacts.

Strong and growing net income: The consolidated net income increased to $166.3 million in Q1 2025, up from $142.8 million in Q1 2024 and much higher than earlier years, showing continual profitability improvement.
Steady revenue growth: Total revenue reached $674.5 million in Q1 2025, a notable increase from $556.2 million in Q1 2024 and consistent growth from prior years.
Positive cash flow from operating activities: Cash flow from continuing operating activities increased to $300.5 million in Q1 2025, demonstrating solid cash generation capability.
Consistent dividends: Invitation Homes has maintained or slightly increased its cash dividends per share, with $0.29 declared in Q1 2025, up from $0.26 in Q1 2024, indicating commitment to returning capital to shareholders.
Stable equity base: Total common equity remained strong around $9.7 billion at the end of Q1 2025, supporting the company's financial strength.
Significant capital expenditures: The company continues to invest heavily in property, leasehold improvements, and equipment (~$58 million in Q1 2025), reflecting ongoing portfolio enhancement but also high cash outflows.
Fluctuating other operating expenses: Other operating expenses showed variability, increasing substantially in Q4 2024 before declining in Q1 2025, indicating potential volatility in operational costs.
Stable long-term debt level: Long-term debt was approximately steady around $7.6 billion from 2023 to Q1 2025, suggesting manageable leverage but little debt reduction over time.
Rising impairment charges: Impairment expenses fluctuated but showed some increase, e.g., $4.7 million in Q4 2024 and $4.7 million in Q1 2025, which may signal asset value challenges in some properties.
Decreased cash balances: Cash and equivalents declined from $1.02 billion in Q3 2024 to about $84 million as of Q1 2025, reflecting substantial cash usage, possibly impacting liquidity if the trend continues.

Overall, Invitation Homes showcases a robust earnings profile and strong operational cash flow, coupled with steady dividends and equity stability, which are positive signs for investors. However, investors should monitor cash reserves, impairment charges, and operational cost variabilities as potential risks to watch.

10/09/25 05:05 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Invitation Home's Financials

When does Invitation Home's financial year end?

According to the most recent income statement we have on file, Invitation Home's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Invitation Home's net income changed over the last 9 years?

Invitation Home's net income appears to be on an upward trend, with a most recent value of $455.37 million in 2024, falling from -$160.21 million in 2015. The previous period was $521.03 million in 2023. Check out Invitation Home's forecast to explore projected trends and price targets.

How has Invitation Home's revenue changed over the last 9 years?

Over the last 9 years, Invitation Home's total revenue changed from $562.31 million in 2015 to $2.62 billion in 2024, a change of 365.7%.

How much debt does Invitation Home have?

Invitation Home's total liabilities were at $8.91 billion at the end of 2024, a 1.4% decrease from 2023, and a 14.6% increase since 2016.

How much cash does Invitation Home have?

In the past 8 years, Invitation Home's cash and equivalents has ranged from $92.26 million in 2019 to $700.62 million in 2023, and is currently $174.49 million as of their latest financial filing in 2024.

How has Invitation Home's book value per share changed over the last 9 years?

Over the last 9 years, Invitation Home's book value per share changed from 0.00 in 2015 to 15.93 in 2024, a change of 1,592.7%.

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This page (NYSE:INVH) was last updated on 10/9/2025 by MarketBeat.com Staff

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Invitation Home (INVH) Financials

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Invitation Home (INVH) Financials

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