Invitation Homes Inc.

Finance
Real Estate
www.invitationhomes.com

Earnings Score
Safety Score

Market Cap $21.43B
PE 45
Debt $8.18B
Cash $318.63M
EV $29.29B
FCF $890.92M

Earnings

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Sales & Net Margins

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Earnings	$476.52M
ROE	5%
FCF	$890.92M
Equity	$9.76B
Growth Stability	1
PE	44.96
PEG	2.03
PB	2.2
P/FCF	24.05
P/S	8.09
Price/Cash	0.01
Debt/Equity	0.84
Debt/FCF	9.19
Net Margins	25%
Earnings CAGR	25%
Sales Growth YoY	4%
Sales Growth QoQ	2%
Sales CAGR	4%
FCF CAGR	11%
Equity CAGR	12%
Earnings Stability	-0.13
Earnings Growth YoY	16%
Earnings Growth QoQ	16%

Earnings CAGR 5Y	22%
Sales CAGR 5Y	7%
FCF CAGR 5Y	14%
Equity CAGR 5Y	4%
Earnings CAGR 3Y	20%
Sales CAGR 3Y	20%
FCF CAGR 3Y	12%
Equity CAGR 3Y	-2%
Market Cap	$21.43B
Revenue	$2.65B
Dividend Yield	3%
Payout Ratio	146%
Assets	$18.58B
Total Debt	$8.18B
Cash	$318.63M
Shares Outstanding	612.78M
EV	29.29B
Earnings Score	6%
Safety Score	77%
Shares Growth 3y	0%
Equity Growth QoQ	-0%
Equity Growth YoY	-4%

Assets & ROA

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Stockholders Equity & ROE

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Invitation Homes owns a portfolio of over 82,000 single-family rental homes. The company focuses on owning homes in the starter and move-up segments of the housing market with an average sale price around $300,000 and generally less than 1,800 square feet. The portfolio is spread across 16 target markets that feature high employment and household formation growth with nearly 70% of the portfolio in the Western U.S. and Florida; 15 of the 16 markets featuring average rents lower than homeownership costs.

SEC Filings

Direct access to Invitation Homes Inc. (INVH) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Invitation Homes Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Invitation Homes Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 25%

Stability -13%

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Invitation Homes Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Invitation Homes Inc..

Years

Calculation mode

= $19B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$891M	$986M	$1.1B	$1.2B	$1.3B	$1.5B	$1.6B	$1.8B	$2B	$2.2B	$2.4B	$24B
DCF		$896M	$901M	$907M	$912M	$917M	$923M	$928M	$934M	$939M	$944M	$9.4B
Value	$19B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	08/2018	08/2019	08/2022	08/2023	12/2024	TTM
Net Margins	-269%	-8%	-	-	-	-	17%	25%
ROA	-	2%	-	-	-	-	-	-
ROE	-	-4%	-	-	-	-	5%	5%

Good Net Margins (24.54%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	08/2018	08/2019	08/2022	08/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	9.61	9.19
Debt over Equity	-	-	-	-	-	-	0.85	0.84
Growth Stability	-	-	-	-	-	-	-	1

Bad Debt/FCF ratio (9.19)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.84)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	08/2018	08/2019	08/2022	08/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	1K%	-	-	-	-	-	7%
Earnings YoY growth	-	-51%	-	-	-	-	-	22%
Equity YoY growth	-	4%	-	-	-	-	-	4%
FCF YoY growth	-	38%	-	-	-	-	-	14%