Financials Invitation Homes Inc.

Equities

INVH

US46187W1071

Residential REITs

Market Closed - Nyse 04:00:02 2023-12-08 pm EST Intraday chart for Invitation Homes Inc. 5-day change 1st Jan Change
33.08 USD +1.01% -2.79% +11.61%

Valuation

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 10 453 16 135 16 648 27 057 18 122 20 244 - -
Enterprise Value (EV) 1 19 558 24 510 24 466 34 446 25 628 27 828 28 165 28 271
P/E ratio -2 008x 111x 84,9x 101x 47,0x 41,1x 45,2x 42,1x
Yield 2,29% 1,80% 2,02% 1,50% 2,97% 3,14% 3,29% 3,59%
Capitalization / Revenue 6,07x 9,14x 9,13x 13,6x 8,10x 8,34x 7,87x 7,58x
EV / Revenue 11,4x 13,9x 13,4x 17,3x 11,5x 11,5x 11,0x 10,6x
EV / EBITDA 20,4x 24,8x 23,6x 29,4x 19,4x 19,9x 19,0x 18,1x
EV / FCF - - - 43 921 919x 29 544 864x - - -
FCF Yield - - - 0,00% 0,00% - - -
Price to Book 1,27x 1,99x 1,99x 2,78x 1,76x 1,99x 2,02x 2,04x
Nbr of stocks (in thousands) 520 580 538 357 560 534 596 769 611 410 611 958 - -
Reference price 2 20,1 30,0 29,7 45,3 29,6 33,1 33,1 33,1
Announcement Date 2/14/19 2/18/20 2/16/21 2/15/22 2/15/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 1 723 1 765 1 823 1 997 2 238 2 428 2 572 2 671
EBITDA 1 958 990 1 038 1 171 1 318 1 395 1 484 1 559
EBIT 1 322 406 467 542 623 708 780 852
Operating Margin 18,7% 23,0% 25,6% 27,2% 27,8% 29,2% 30,3% 31,9%
Earnings before Tax (EBT) 1 -54,7 50,8 143 203 294 380 434 578
Net income 1 -4,93 145 196 261 383 485 440 491
Net margin -0,29% 8,22% 10,7% 13,1% 17,1% 20,0% 17,1% 18,4%
EPS 2 -0,01 0,27 0,35 0,45 0,63 0,80 0,73 0,79
Free Cash Flow - - - 784 867 - - -
FCF margin - - - 39,3% 38,8% - - -
FCF Conversion (EBITDA) - - - 67,0% 65,8% - - -
FCF Conversion (Net income) - - - 300% 227% - - -
Dividend per Share 2 0,46 0,54 0,60 0,68 0,88 1,04 1,09 1,19
Announcement Date 2/14/19 2/18/20 2/16/21 2/15/22 2/15/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December 2021 Q2 2021 Q3 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
Net sales 1 492 510 520 532 557 569 580 590 600 618 624 629 640 652 662
EBITDA 1 288 295 308 317 333 330 338 350 353 354 359 364 369 371 379
EBIT 1 132 133 148 154 166 142 161 175 176 169 182 191 195 195 212
Operating Margin 26,9% 26,1% 28,4% 29,0% 29,7% 25,0% 27,8% 29,6% 29,2% 27,3% 29,2% 30,4% 30,5% 29,8% 32,0%
Earnings before Tax (EBT) 1 42,8 56,4 60,3 75,0 84,0 55,5 79,6 90,9 91,5 74,2 93,1 102 99,8 103 103
Net income 1 60,2 69,1 74,5 92,4 111 79,0 100 120 138 132 106 110 112 111 119
Net margin 12,3% 13,6% 14,3% 17,4% 19,9% 13,9% 17,3% 20,4% 22,9% 21,3% 17,0% 17,4% 17,5% 17,1% 18,0%
EPS 2 0,11 0,12 0,12 0,15 0,18 0,13 0,16 0,20 0,22 0,21 0,18 0,18 0,19 0,19 0,20
Dividend per Share 2 0,17 0,17 0,17 0,22 0,22 0,22 0,22 0,26 0,26 0,26 0,26 0,27 0,27 0,27 0,27
Announcement Date 7/28/21 10/27/21 2/15/22 4/27/22 7/27/22 10/26/22 2/15/23 5/1/23 7/26/23 10/25/23 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 9 105 8 375 7 818 7 388 7 506 7 585 7 922 8 027
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 9,50x 8,46x 7,53x 6,31x 5,69x 5,44x 5,34x 5,15x
Free Cash Flow - - - 784 867 - - -
ROE (net income / shareholders' equity) -0,06% 1,77% 2,34% 2,85% 3,81% 4,16% 4,48% 5,02%
Shareholders' equity 1 8 212 8 200 8 360 9 151 10 045 11 653 9 837 9 792
ROA (Net income/ Total Assets) -0,03% 0,82% 1,12% 1,45% 2,06% 2,55% 2,29% 2,59%
Assets 1 15 761 17 680 17 449 18 022 18 537 19 038 19 202 18 979
Book Value Per Share 2 15,8 15,1 14,9 16,3 16,8 16,6 16,4 16,2
Cash Flow per Share 2 - - 1,25 1,57 1,68 1,81 - -
Capex 1 298 644 271 1 264 723 341 417 437
Capex / Sales 17,3% 36,5% 14,9% 63,3% 32,3% 14,0% 16,2% 16,4%
Announcement Date 2/14/19 2/18/20 2/16/21 2/15/22 2/15/23 - - -
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

Trading Rating :
Investor Rating :
ESG Refinitiv :
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
33.08USD
Average target price
36.53USD
Spread / Average Target
+10.42%
Consensus
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