Stocktoria

Invitation Homes Inc. INVH

NYSE · reit · Real Estate Operators (No Developers) & Lessors · website · IPO 2017-02-01 · LEI

Invitation Homes Inc. statistics & valuation

Market cap$18.2B
P / E30.9×
P / S6.7×
P / B1.9×
Dividend yield3.92%
Net margin21.5%
Return on equity6.1%
Net debt$8.3B
Enterprise value USD$26.4B
Graham number -39.4%$18.36

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($18.36); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-8.40% -0.30% 8.20% 10.80% 13.10% 17.10% 21.40% 17.30% 21.50% 2017201820182019202020212022202320242025
Gross margin (%)
2017201820182019202020212022202320242025
Operating margin (%)
11.20% 2017201820182019202020212022202320242025
Return on equity (%)
-1.00% -0.10% 1.80% 2.30% 2.70% 3.70% 5.10% 4.60% 6.10% 2017201820182019202020212022202320242025
Shares outstanding
519.2M 520.5M 520.6M 541.6M 567.1M 601.0M 611.4M 613.3M 613.6M 613.2M 2017201820182019202020212022202320242025
Net debt ($)
$9.47B $9.50B $9.10B $8.38B $7.82B $7.39B $7.51B $7.85B $8.03B $8.25B 2017201820182019202020212022202320242025
Share buybacks ($)
2017201820182019202020212022202320242025
Return on assets (%)
-0.50% 0.00% 0.80% 1.10% 1.40% 2.10% 2.70% 2.40% 3.10% 2017201820182019202020212022202320242025
Free cash flow margin (%)
24.60% 32.30% 2017201820182019202020212022202320242025
Debt / equity (×)
1.12× 1.13× 1.11× 1.02× 0.94× 0.81× 0.75× 0.84× 0.84× 0.88× 2017201820182019202020212022202320242025
EPS ($)
-$0.26 -$0.06 -$0.01 $0.27 $0.35 $0.45 $0.63 $0.85 $0.74 $0.96 2017201820182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Invitation Homes Inc. trades at about 31.6× earnings — below its 10-year norm (10-year range 27.8×–116.6×, median 51.6×).

27.8× 116.6×

Shaded band = 10-year range (27.8×–116.6×); dot = today's 31.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2018FY2017
Operating margin—————————11.2%
Net margin21.5%17.3%21.4%17.1%13.1%10.8%8.2%-0.3%—-8.4%
FCF margin———————32.3%—24.6%
Return on assets3.1%2.4%2.7%2.1%1.4%1.1%0.8%-0.0%—-0.5%
Return on equity6.1%4.6%5.1%3.7%2.7%2.3%1.8%-0.1%—-1.0%
Debt / equity0.88×0.84×0.84×0.75×0.81×0.94×1.02×1.11×1.13×1.12×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.