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MARKETS / NYSE / INVH
NYSE · REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS · LARGE CAP

Invitation Homes Inc. INVH

11 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.7B
▲ 4.2% YoY
$587.9M
▲ 29.5% YoY
In brief

What this company does

As of December 31, 2025, Invitation Homes wholly owned 86,192 homes for lease, jointly owned 8,006 homes for lease, and provided third-party property and asset management services for an additional 15,866 homes, primarily located in 16 core markets across the United States. Homes in its owned portfolio average approximately 1,880 square feet, with three to four bedrooms and two bathrooms. It operates primarily in the Western United States, Florida, and the Southeast United States. As of December 31, 2025, the company had 1,725 full-time associates, supplemented with temporary and contract resources as needed. On January 14, 2026, the company acquired ResiBuilt Homes, LLC, a fee homebuilder specializing in single-family rental communities with expertise in land development and construction general contracting across high-growth Southeast markets. The company was founded in 2012, and since then has built a vertically integrated operating platform to acquire, renovate, lease, maintain, and manage both the homes it owns and those it manages on behalf of others.

Written from the business description in Invitation Homes Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
USD 2.7B
Revenue, FY2025 · full 11-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.7 · Net income 0.6
1B2B201520172019202120232025
Compound annual growth
+6.8%
+8.4%
+12.6%
+15.3%
+24.5%
+15.1%
+22.4%
+10.0%
+14.3%
+12.4%
+18.2%
+1.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.4% a year over five years — but profit grew faster: net income at +24.5%, earnings per share at +22.4%.

The share count rose from 0.57B to 0.61B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
22 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating — · Net 21.6%
10%20%-5%-10%-15%201520172019202120232025
ROE
FY2025 · ROE 6.1%
2.0%4.0%6.0%-0.5%-1.0%201520172019202120232025

Each USD of equity produced 6 cents of profit this year.

Cash & shareholders
USD 766.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2017 · FCF 258.9
100M200M201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 712.8 · Net buybacks 53.2
400MDividendsNet buybacks201520172019202120232025

USD 712.8M in dividends and USD 53.2M in buybacks — 130% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 18.7B
EquityUSD 9.5B
CashUSD 130.0M
Gross debtUSD 8.4B
Net debtUSD 8.3B

Net debt stands at 87% of equity.

The 11-year record
11 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015
Revenue $B2.72.62.42.22.01.81.8·1.10.90.8
Operating income $B········0.10.20.1
EBITDA $B········0.40.50.4
Income tax $B··0.00.00.00.00.00.0···
Net income $B0.60.50.50.40.30.20.1−0.0−0.1−0.1−0.2
Free cash flow $B········0.30.20.2
EPS, diluted $0.960.740.850.630.450.350.27−0.01···
Dividend / sh $1.171.411.040.880.680.600.520.440.22··
Payout %121152123141151169190−4670−66−0−426
ROE %6.14.65.13.82.92.31.8−0.1−1.2··
Shares out B0.610.610.610.610.600.570.540.520.52··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 29 reconciliationsAUDITED

Reconciled in 11 of 19 fiscal years. 37 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Operators (No Developers) & Lessors
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2015

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