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INVH Financials Invitation Homes

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 8.4% per year over the past 5 years.
  • Net income has grown faster than revenue (24.5% vs 8.4% per year).
  • Free cash flow has grown 41.8% per year over the past 5 years.

Financial health

  • Total debt ($8.4B) exceeds cash ($130M); net debt is $8.3B.
  • Total debt has grown slower than revenue (0.9% vs 8.4% per year).

Shareholder returns

  • Dividends have been paid for 9 consecutive years, consuming 121.2% of earnings.
  • The dividend has grown 16.5% per year over the past 5 years.
Revenue & net income
-$160M $1B $3B $0 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-8% 7% 22% 0% 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $279M $557M 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $5B $10B 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$1B $23M $1B $0 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $2.7B $588M 0.0% 0.0% — $8.4B $130M
2024 $2.6B $454M 0.0% 0.0% — $8.2B $174M
2023 $2.4B $519M 0.0% 0.0% — $8.5B $701M
2022 $2.2B $383M 0.0% 0.0% — $7.8B $263M
2021 $2.0B $261M 0.0% 0.0% — $8.0B $610M
2020 $1.8B $196M 0.0% 0.0% — $8.0B $213M
2019 $1.8B $145M 0.0% 0.0% — $8.5B $92M
2018 $1.7B -$5M 0.0% 0.0% $557M $9.2B $145M
2017 $1.1B -$88M 0.0% 11.2% $259M $9.7B $180M
2016 $923M -$78M 0.0% 20.7% $252M — $198M
2015 — -$160M — — $195M — $275M

Valuation over time

How the market has priced INVH against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 27.5 55.0 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 4.7 9.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 2.4 4.8 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is INVH growing its revenue and profit?

Over the past 5 years, Invitation Homes's revenue has grown 8.4% per year, and net income grown 24.5% per year. These are computed facts, not advice.

How much debt does INVH have?

As of FY2025, Invitation Homes reported $8.4B of total debt against $130M of cash.

What is INVH's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 21.5%.

What is INVH's P/E ratio?

As of Jun '26, Invitation Homes traded at a price-to-earnings ratio of about 30.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.