Stock INVH INVITATION HOMES INC.
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Financials Invitation Homes Inc.

Equities

INVH

US46187W1071

Residential REITs

Market Closed - Nyse
Other stock markets
 01:00:02 2024-07-03 pm EDT 		Pre-market 09:18:45 am
36.01 USD -0.11% Intraday chart for Invitation Homes Inc. 36.14 +0.37%
Jul. 01 Invitation Homes Inc.(NYSE:INVH) added to Russell 1000 Dynamic Index CI
Jun. 17 JPMorgan Adjusts Price Target on Invitation Homes to $36 From $35 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,135 16,648 27,057 18,122 20,874 22,057 - -
Enterprise Value (EV) 1 24,510 24,466 34,446 25,628 28,719 29,884 30,132 30,371
P/E ratio 111 x 84.9 x 101 x 47 x 40.1 x 47 x 45.9 x 40.8 x
Yield 1.8% 2.02% 1.5% 2.97% 3.87% 3.16% 3.4% 3.8%
Capitalization / Revenue 9.14 x 9.13 x 13.6 x 8.1 x 8.58 x 8.43 x 8.02 x 7.51 x
EV / Revenue 13.9 x 13.4 x 17.3 x 11.5 x 11.8 x 11.4 x 11 x 10.3 x
EV / EBITDA 24.8 x 23.6 x 29.4 x 19.4 x 20.3 x 19.9 x 19 x 17.7 x
EV / FCF - - 43.9 x 29.5 x 32.4 x 33.7 x 31.3 x 29.6 x
FCF Yield - - 2.28% 3.38% 3.08% 2.97% 3.2% 3.37%
Price to Book 1.99 x 1.99 x 2.78 x 1.76 x 2.06 x 2.21 x 2.26 x 2.32 x
Nbr of stocks (in thousands) 538,357 560,534 596,769 611,410 611,958 612,536 - -
Reference price 2 29.97 29.70 45.34 29.64 34.11 36.01 36.01 36.01
Announcement Date 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,765 1,823 1,997 2,238 2,432 2,615 2,750 2,936
EBITDA 1 989.8 1,038 1,171 1,318 1,413 1,501 1,588 1,721
EBIT 1 406.3 467.1 542.2 623 690.9 769.6 851.4 946.4
Operating Margin 23.03% 25.63% 27.16% 27.84% 28.41% 29.43% 30.96% 32.24%
Earnings before Tax (EBT) 1 50.78 142.9 202.8 294.1 337.5 458.2 474.8 538.2
Net income 1 145.1 195.8 261.1 382.7 518.8 463.8 472.1 509.4
Net margin 8.22% 10.74% 13.08% 17.1% 21.33% 17.73% 17.17% 17.35%
EPS 2 0.2700 0.3500 0.4500 0.6300 0.8500 0.7661 0.7853 0.8836
Free Cash Flow 1 - - 784.3 867.4 886 886.2 962.9 1,025
FCF margin - - 39.28% 38.76% 36.43% 33.88% 35.01% 34.91%
FCF Conversion (EBITDA) - - 66.96% 65.81% 62.68% 59.02% 60.63% 59.57%
FCF Conversion (Net income) - - 300.37% 226.68% 170.78% 191.08% 203.96% 201.21%
Dividend per Share 2 0.5400 0.6000 0.6800 0.8800 1.320 1.137 1.224 1.367
Announcement Date 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 520.2 532.3 557.3 568.7 579.8 589.9 600.4 617.7 624.3 646 646.7 658 664.2 671.3 678.9
EBITDA 1 307.9 316.9 332.7 330.4 338.2 349.6 353 353.7 357.2 371.6 367.8 368.5 377 385.6 389.3
EBIT 1 147.8 154.1 165.5 141.9 161.4 174.5 175.6 168.9 171.9 181.5 192.5 189.8 198.6 214.8 221.8
Operating Margin 28.41% 28.95% 29.7% 24.96% 27.83% 29.59% 29.24% 27.34% 27.54% 28.1% 29.76% 28.84% 29.9% 31.99% 32.67%
Earnings before Tax (EBT) 1 60.31 74.98 84 55.48 79.65 90.91 91.49 74.23 80.85 91.66 98.7 97.2 104 108.2 113.6
Net income 1 74.48 92.4 110.8 79.03 100.4 120.1 137.7 131.6 129.4 142.2 111.8 105.3 111.9 119.2 120.7
Net margin 14.32% 17.36% 19.88% 13.9% 17.32% 20.35% 22.94% 21.31% 20.72% 22% 17.29% 16% 16.84% 17.75% 17.78%
EPS 2 0.1200 0.1500 0.1800 0.1300 0.1600 0.2000 0.2200 0.2100 0.2100 0.2300 0.1862 0.1788 0.1870 0.2053 0.2103
Dividend per Share 2 0.1700 0.2200 0.2200 0.2200 0.2200 0.2600 0.2600 0.2600 0.5400 0.2800 0.2811 0.2811 0.2819 0.3046 0.3050
Announcement Date 2/15/22 4/27/22 7/27/22 10/26/22 2/15/23 5/1/23 7/26/23 10/25/23 2/13/24 4/30/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 8,375 7,818 7,388 7,506 7,845 7,826 8,074 8,314
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.462 x 7.531 x 6.309 x 5.695 x 5.55 x 5.212 x 5.085 x 4.832 x
Free Cash Flow 1 - - 784 867 886 886 963 1,025
ROE (net income / shareholders' equity) 1.77% 2.34% 2.85% 3.81% 5.07% 4.42% 4.88% 5.52%
ROA (Net income/ Total Assets) 0.82% 1.12% 1.45% 2.06% 2.75% 2.22% 2.44% 2.74%
Assets 1 17,680 17,449 18,022 18,537 18,879 20,887 19,348 18,566
Book Value Per Share 2 15.10 14.90 16.30 16.80 16.60 16.30 16.00 15.50
Cash Flow per Share 2 - 1.250 1.570 1.680 1.810 1.900 2.020 2.150
Capex 1 644 271 1,264 723 221 342 393 392
Capex / Sales 36.47% 14.87% 63.33% 32.28% 9.09% 13.07% 14.28% 13.34%
Announcement Date 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Invitation Homes Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
36.01 USD
Average target price
38.38 USD
Spread / Average Target
+6.58%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Residential REITs
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  4. Financials Invitation Homes Inc.