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IRT Financials Independence Realty Trust, Inc.

15 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 25.4% per year over the past 5 years.
  • Net income has grown faster than revenue (30.8% vs 25.4% per year).
  • Free cash flow has declined 8.5% per year over the past 5 years.

Financial health

  • Total debt ($2.3B) exceeds cash ($24M); net debt is $2.3B.
  • Total debt has grown slower than revenue (19.3% vs 25.4% per year).

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 273.0% of earnings.
  • The dividend has grown 22.4% per year over the past 5 years.
Revenue & net income
-$17M $322M $661M $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-3% 47% 97% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $37M $75M 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $1B $3B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$254M $14M $282M $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $658M $57M 0.0% 0.0% — $2.3B $24M
2024 $640M $39M 0.0% 0.0% — $2.3B $21M
2023 $661M -$17M 0.0% 0.0% — $2.5B $23M
2022 $629M $117M 0.0% 0.0% — $2.6B $16M
2021 $250M $45M 0.0% 0.0% $52M $2.7B $36M
2020 $212M $15M 0.0% 0.0% $75M $946M $9M
2019 $203M $46M 96.2% 0.0% $75M $986M $10M
2018 $191M $26M 96.4% 27.1% $68M $985M $9M
2017 $161M $30M 96.3% 28.2% — $778M $9M
2016 $153M — 96.8% 25.9% — $744M $21M
2015 $110M — 0.0% 9.3% — $967M $38M
2014 $49M $3M 0.0% 17.4% — $417M $15M
2013 $20M $615000 0.0% 24.7% — $103M $3M
2012 $17M -$123000 0.0% 22.4% — $92M $3M
2011 $9M -$112000 0.0% 15.7% — — $1M

Valuation over time

How the market has priced IRT 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 65.4 130.8 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 4.0 8.0 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 2.2 4.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is IRT growing its revenue and profit?

Over the past 5 years, Independence Realty Trust, Inc.'s revenue has grown 25.4% per year, and net income grown 30.8% per year. These are computed facts, not advice.

How much debt does IRT have?

As of FY2025, Independence Realty Trust, Inc. reported $2.3B of total debt against $24M of cash.

What is IRT's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 8.6%.

What is IRT's P/E ratio?

As of Jun '26, Independence Realty Trust, Inc. traded at a price-to-earnings ratio of about 69.9× (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.