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 Nov 1, 2026, 10:31 UTC 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

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.7B	$588M	0.0%	0.0%	6.2%	3.1%	—	$8.4B	$130M
2024	$2.6B	$454M	0.0%	0.0%	4.7%	2.4%	—	$8.2B	$174M
2023	$2.4B	$519M	0.0%	0.0%	5.1%	2.7%	—	$8.5B	$701M
2022	$2.2B	$383M	0.0%	0.0%	3.7%	2.1%	—	$7.8B	$263M
2021	$2.0B	$261M	0.0%	0.0%	2.7%	1.4%	—	$8.0B	$610M
2020	$1.8B	$196M	0.0%	0.0%	2.3%	1.1%	—	$8.0B	$213M
2019	$1.8B	$145M	0.0%	0.0%	1.8%	0.8%	—	$8.5B	$92M
2018	$1.7B	-$5M	0.0%	0.0%	-0.1%	-0.0%	$557M	$9.2B	$145M
2017	$1.1B	-$88M	0.0%	11.2%	-1.0%	-0.5%	$259M	$9.7B	$180M
2016	$923M	-$78M	0.0%	20.7%	-4.0%	-0.8%	$252M	—	$198M
2015	—	-$160M	—	—	—	—	$195M	—	$275M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$36M	$158M	0.0%	0.0%	1.8%	0.9%	—	$8.7B	$79M
Jun '26	$49M	$219M	0.0%	0.0%	2.4%	1.2%	—	$8.5B	$76M
Mar '26	$44M	$161M	0.0%	0.0%	1.8%	0.9%	—	$8.8B	$114M
Dec '25	—	$145M	—	—	1.5%	0.8%	—	$8.4B	$130M
Sep '25	$0	$137M	—	—	1.4%	0.7%	—	$8.2B	$155M
Jun '25	$0	$141M	—	—	1.5%	0.8%	—	$8.2B	$65M
Mar '25	$0	$166M	—	—	1.7%	0.9%	—	$8.1B	$84M
Dec '24	—	$143M	—	—	1.5%	0.8%	—	$8.2B	$174M
Sep '24	—	$95M	—	—	1.0%	0.5%	—	$9.0B	$1.0B
Jun '24	—	$73M	—	—	0.7%	0.4%	—	$8.5B	$749M
Mar '24	—	$142M	—	—	1.4%	0.7%	—	$8.5B	$738M
Dec '23	—	$130M	—	—	1.3%	0.7%	—	$8.5B	$701M
Sep '23	—	$132M	—	—	1.3%	0.7%	—	$8.5B	$763M
Jun '23	—	$138M	—	—	1.3%	0.7%	—	$7.8B	$414M
Mar '23	—	$120M	—	—	1.2%	0.6%	—	$7.8B	$325M
Dec '22	—	$101M	—	—	1.0%	0.5%	—	$7.8B	$263M
Sep '22	—	$79M	—	—	0.8%	0.4%	—	$7.8B	$300M
Jun '22	—	$111M	—	—	1.1%	0.6%	—	$7.8B	$273M
Mar '22	—	$93M	—	—	0.9%	0.5%	—	$7.9B	$467M
Dec '21	—	$75M	—	—	0.8%	0.4%	—	$8.0B	$610M

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.

The price-to-earnings ratio has fallen from 46.9× (Mar '23) to 26.3× (Nov '26).
The price-to-sales ratio has fallen from 8.0× (Mar '23) to 5.7× (Nov '26).
The dividend yield has risen from 3.0% (Mar '23) to 4.6% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

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?

Invitation Homes's P/E (TTM) is 22.68 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the INVH stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 26.3× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.