Company Valuation: Invitation Homes Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 27,057 18,122 20,874 19,585 17,036 15,867 - -
Change - -33.02% 15.18% -6.17% -13.02% -6.86% - -
Enterprise Value (EV) 1 34,446 25,628 28,719 27,581 25,061 23,855 23,660 23,504
Change - -25.6% 12.06% -3.96% -9.14% -4.81% -0.82% -0.66%
P/E ratio 101x 47x 40.1x 43.2x 28.9x 37.4x 35.8x 31.3x
PBR 2.78x 1.76x 2.06x 2.01x 1.78x 1.71x 1.71x 1.89x
PEG - 1.2x 1.1x -3.3x 1x -1.4x 8.1x 2.2x
Capitalization / Revenue 13.6x 8.1x 8.58x 7.48x 6.24x 5.7x 5.57x 5.34x
EV / Revenue 17.3x 11.5x 11.8x 10.5x 9.18x 8.58x 8.3x 7.91x
EV / EBITDA 29.4x 19.4x 20.3x 18.4x 16.2x 15.5x 15x 14.3x
EV / EBIT 63.5x 41.1x 41.6x 41.9x 33.8x 31.7x 29.9x 27.1x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.68 0.88 1.32 1.13 1.17 1.204 1.246 1.301
Rate of return 1.5% 2.97% 3.87% 3.53% 4.21% 4.55% 4.71% 4.92%
EPS 2 0.45 0.63 0.85 0.74 0.96 0.7083 0.7396 0.8456
Distribution rate 151% 140% 155% 153% 122% 170% 168% 154%
Net sales 1 1,997 2,238 2,432 2,619 2,729 2,782 2,850 2,972
EBITDA 1 1,171 1,318 1,413 1,497 1,552 1,538 1,581 1,648
EBIT 1 542.2 623 690.9 658.3 741 752 792.2 868.7
Net income 1 261.1 382.7 518.8 453.2 587 414.9 425.6 466.4
Net Debt 1 7,388 7,506 7,845 7,996 8,025 7,988 7,793 7,637
Reference price 2 45.34 29.64 34.11 31.97 27.79 26.47 26.47 26.47
Nbr of stocks (in thousands) 596,769 611,410 611,958 612,605 613,021 599,446 - -
Announcement Date 2/15/22 2/15/23 2/13/24 2/26/25 2/18/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.37x8.58x15.51x4.55% 15.87B
34.93x10.52x17.24x4.19% 23.76B
44.56x9.89x16.47x4.59% 23.17B
43.07x11.86x17.9x4.18% 16.21B
49.63x8.47x19.25x3.44% 16.03B
38.18x9.04x16.25x4.85% 14.7B
31.85x10.06x20.7x3.34% 12.53B
66.77x10.01x16.5x4.95% 11.45B
49.12x8.53x16.06x4.29% 10.96B
84.16x9.15x16.47x4.18% 10.66B
Average 47.96x 9.61x 17.23x 4.25% 15.53B
Weighted average by Cap. 45.77x 9.71x 17.22x 4.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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