Invitation Homes Inc. Financial Ratios — INVH Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	-7.38	-4.07	-2.01	-0.06	1.77	2.35	2.86	3.82	5.08	4.56	6.1
Return on Assets (%)	- -	-1.69	-0.8	-0.74	-0.03	0.82	1.12	1.45	2.07	2.75	2.39	3.15
Return on Capital (%)	- -	- -	- -	- -	- -	2.57	3.09	3.39	3.82	4.62	4.46	5.23
Return on Invested Capital (%)	- -	- -	- -	- -	- -	2.14	2.64	3.2	3.63	3.8	4.04	4.19
Gross Margin (%)	41.83	53.66	57.64	58.76	58.16	58.54	59.45	61.05	60.94	59.87	59.04	58.42
EBITDA Margin (%)	28.45	44.16	50.15	42.85	52.43	54.33	55.98	57.25	57.63	56.48	55.58	54.93
Operating Margin (%)	-4.32	14.23	21.13	13.5	19.89	24.09	25.67	27.59	29.12	28.76	28.3	27.57
Incremental Operating Margin (%)	- -	83.12	87.85	-39.95	29.99	197.33	73.52	47.8	41.73	24.62	22.36	10.11
Pretax Margin (%)	-40.93	-19.43	-8.48	-10.04	-0.29	8.34	10.83	13.16	17.19	21.42	17.39	21.61
Profit Margin (%)	-40.97	-19.16	-8.48	-9.99	-0.29	8.24	10.76	13.09	17.13	21.36	17.33	21.54
Net Income to Common Margin (%)	-40.97	-19.16	-8.48	-9.99	-0.29	8.24	10.76	13.09	17.13	21.36	17.33	21.54
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-292.11	-420.03	- -	-64.9	-4,512.1	185.99	167.17	149.1	139.55	122.11	150.88	120.43
Sustainable Growth Rate (%)	- -	-38.36	-4.07	-3.32	-2.72	-1.52	-1.58	-1.4	-1.51	-1.12	-2.32	-1.25

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	6,565	7,726	7,570	9,652	12,455	10,630	8,032	7,999	7,769	8,546	8,202	8,380
ST Debt	3,391	2,348	2,316	35	3,205	2,162	- -	- -	- -	- -	570	145
LT Debt	3,174	5,378	5,255	9,617	9,250	8,467	8,032	7,999	7,769	8,546	7,632	8,235
Total Debt/EBITDA	35.03	20.93	16.36	21.36	13.79	11.09	7.87	7	6.02	6.22	5.64	5.59
Net Debt/EBITDA	33.51	20.18	15.93	20.96	13.63	10.99	7.66	6.46	5.82	5.71	5.52	5.5
Total Debt/EBIT	-230.93	64.95	38.83	67.83	36.34	25.01	17.17	14.52	11.92	12.22	11.07	11.14
Net Debt/EBIT	-220.88	62.64	37.81	66.56	35.91	24.79	16.71	13.41	11.52	11.22	10.83	10.97
EBITDA to Interest Expense	0.79	1.35	1.62	1.76	2.35	2.61	2.88	3.54	4.24	4.12	3.98	4.24
EBITDA-CapEx/Interest Expense	0.79	1.35	1.62	1.76	2.35	2.61	2.88	3.54	4.24	4.12	3.98	4.24
EBIT to Interest Expense	-0.12	0.43	0.68	0.55	0.89	1.16	1.32	1.71	2.14	2.1	2.02	2.13
Interest Expense	236	274	286	257	384	367	354	323	304	333	366	353
Common Equity/Total Assets	26.7	19.26	20.11	45.48	45.56	47.23	48.58	52.85	55.52	52.84	52.17	51.02
Long-Term Debt/Equity (%)	129.2	285.01	268.45	111.18	110.52	102.44	93.87	81.3	75.26	83.86	77.94	86.07
Long-Term Debt/Capital (%)	35.18	55.95	55.15	52.55	44.42	44.81	48.42	44.84	42.94	45.61	42.41	45.88
Long-Term Debt/Total Assets (%)	34.5	54.9	53.99	51.47	51.21	48.68	45.88	43.15	41.91	44.46	40.81	44.08
Total Debt/Equity (%)	267.22	409.42	386.75	111.58	148.82	128.6	93.87	81.3	75.26	83.86	83.76	87.58
Total Debt/Capital (%)	72.77	80.37	79.46	52.74	59.81	56.25	48.42	44.84	42.94	45.61	45.58	46.69
Total Debt/Total Assets (%)	71.36	78.86	77.78	51.66	68.95	61.12	45.88	43.15	41.91	44.46	43.86	44.86
Net Debt to Equity	255.6	394.86	376.63	109.5	147.09	127.48	91.37	75.1	72.71	76.99	81.98	86.23
Net Debt/Capital (%)	71.88	79.79	79.02	52.27	59.53	56.04	47.75	42.89	42.1	43.5	45.05	46.3
EBITDA	187	369	463	452	903	959	1,020	1,143	1,290	1,374	1,456	1,499
EBITDA-CapEx	187	369	463	452	903	959	1,020	1,143	1,290	1,374	1,456	1,499
Operating Income (Loss)	-28	119	195	142	343	425	468	551	652	700	741	752

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.08	0.11	0.08	0.79	0.85	0.5	1.43	3.15	1.32	3.49	0.21	0.35
Current Ratio	0.17	0.22	0.21	2.36	3.41	2.48	3.59	5.06	3.41	5.71	0.82	1.52
Quick Ratio	0.08	0.12	0.09	0.89	1.05	0.63	1.67	3.34	1.6	3.8	0.29	0.51
CFO/Avg Current Liab	- -	0.07	0.11	0.2	2.82	3.72	4.15	5.29	5.22	5.55	2.12	2.02
Common Equity/Total Assets	26.7	19.26	20.11	45.48	45.56	47.23	48.58	52.85	55.52	52.84	52.17	51.02
Long-Term Debt/Equity (%)	129.2	285.01	268.45	111.18	110.52	102.44	93.87	81.3	75.26	83.86	77.94	86.07
Long-Term Debt/Capital (%)	35.18	55.95	55.15	52.55	44.42	44.81	48.42	44.84	42.94	45.61	42.41	45.88
Long-Term Debt/Total Assets (%)	34.5	54.9	53.99	51.47	51.21	48.68	45.88	43.15	41.91	44.46	40.81	44.08
Total Debt/Equity (%)	267.22	409.42	386.75	111.58	148.82	128.6	93.87	81.3	75.26	83.86	83.76	87.58
Total Debt/Capital (%)	72.77	80.37	79.46	52.74	59.81	56.25	48.42	44.84	42.94	45.61	45.58	46.69
Total Debt/Total Assets (%)	71.36	78.86	77.78	51.66	68.95	61.12	45.88	43.15	41.91	44.46	43.86	44.86
CFO/Total Liabilities	0.72	2.5	3.29	2.62	5.79	7.25	7.78	10.43	12.46	12.26	12.14	13.24
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	-0.31	-0.11	-0.07	0.82	0.8	1.23	1.3	2.08	1.52	1.62	1.47	1.29

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	115.93	90.23	58.37	59.78	60.47	60.26	54.91	48.89	42.34	42.92	45.04
Days Sales Outstanding	- -	3.15	4.05	6.25	6.11	6.04	6.06	6.65	7.47	8.62	8.5	8.1
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	3.15	4.05	6.25	6.11	6.04	6.06	6.65	7.47	8.62	8.5	8.1
Inventory to Cash Days	- -	3.15	4.05	6.25	6.11	6.04	6.06	6.65	7.47	8.62	8.5	8.1
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	12,237	10,455	16,233	16,843	27,251	18,122	20,874	19,585	16,974
- Cash & Cash Equivalents	286	275	198	180	145	92	213	610	263	701	174	130
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	152	140	52	51	41	32	34	36	38
+ Total Debt	6,565	7,726	7,570	9,652	12,455	10,630	8,032	7,999	7,769	8,546	8,202	8,380
Enterprise Value	6,279	7,451	7,372	21,860	22,905	26,822	24,713	34,681	25,661	28,754	27,649	25,262
Total Capital	9,021	9,613	9,528	18,302	20,824	18,896	16,588	17,837	18,093	18,736	17,995	17,948
Total Debt/Capital (%)	72.77	80.37	79.46	52.74	59.81	56.25	48.42	44.84	42.94	45.61	45.58	46.69
Total Debt / EV	1.05	1.04	1.03	0.44	0.54	0.4	0.32	0.23	0.3	0.3	0.3	0.33
EV/Sales	9.53	8.91	7.99	20.73	13.29	15.2	13.56	17.37	11.47	11.82	10.56	9.26
EV/EBITDA	33.51	20.18	15.93	48.38	25.36	27.97	24.22	30.34	19.89	20.93	19	16.85
EV/EBIT	- -	62.64	37.81	153.62	66.82	63.1	52.82	62.95	39.38	41.11	37.3	33.57
EV/Cash Flow to Firm	22.09	15.81	13.6	42.04	24.24	26.06	23.52	28.19	19.33	19.96	19.1	16.2
EV/Free Cash Flow to Firm	22.09	15.81	13.6	42.04	24.24	26.06	23.52	28.19	19.33	19.96	19.1	16.2
Diluted Market Cap	- -	- -	- -	8,000	10,449	15,959	16,497	26,261	18,113	20,919	19,618	17,040
Diluted Enterprise Value	6,279	7,451	7,372	17,624	22,899	26,548	24,366	33,691	25,652	28,799	27,681	25,328
EV per Share	20.78	24.66	24.4	42.11	43.99	49.52	43.58	57.7	41.97	46.99	45.13	41.36
TTM Sales	659	836	923	1,054	1,723	1,765	1,823	1,997	2,238	2,432	2,619	2,729
TTM EBITDA	187	369	463	452	903	959	1,020	1,143	1,290	1,374	1,456	1,499
TTM Operating Income	-28	119	195	142	343	425	468	551	652	700	741	752
TTM Cash Flow to Firm	284	471	542	520	945	1,029	1,051	1,230	1,328	1,441	1,448	1,560
TTM Free Cash Flow to Firm	284	471	542	520	945	1,029	1,051	1,230	1,328	1,441	1,448	1,560

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	30.42	18.62	24.1	23.68	28.93	17.7	18.9	18.13	14.13
EV/EBIT	- -	62.64	37.81	153.62	66.82	63.1	52.82	62.95	39.38	41.11	37.3	33.57
Enterprise Value	6,279	7,451	7,372	21,860	22,905	26,822	24,713	34,681	25,661	28,754	27,649	25,262
Low Price	- -	- -	- -	19.8	19.21	19.57	15.64	27.44	29.07	28.49	31.01	26.02
EV/Sales	9.53	8.91	7.99	20.73	13.29	15.2	13.56	17.37	11.47	11.82	10.56	9.26
EV/EBITDA	33.51	20.18	15.93	48.38	25.36	27.97	24.22	30.34	19.89	20.93	19	16.85
Price/Earnings	- -	- -	- -	- -	- -	109.45	83.86	100.19	47.15	40.18	43.14	28.97
Price/Earnings Average	- -	- -	- -	-71.25	-2,363.33	97.04	78.14	81.24	58.76	38.77	46.48	32.44
Price/Earnings High	- -	- -	- -	-78.3	-2,531.65	114.38	92.33	101.21	72.73	43.03	51.01	37.32
Price/Earnings Low	- -	- -	- -	-63.8	-2,028.91	71.47	44.16	60.64	46.24	33.56	41.85	27.13
Price/Book Value	- -	- -	- -	1.44	1.27	1.98	1.98	2.78	1.76	2.06	2.01	1.78
Price/Book Value Average	- -	- -	- -	1.35	1.42	1.75	1.85	2.26	2.19	1.98	2.16	1.99
Price/Book Value High	- -	- -	- -	1.48	1.52	2.07	2.18	2.81	2.72	2.2	2.37	2.29
Price/Book Value Low	- -	- -	- -	1.21	1.22	1.29	1.04	1.68	1.73	1.72	1.95	1.67
Price/Tangible Book Value	- -	- -	- -	1.49	1.31	2.04	2.04	2.86	1.81	2.11	2.06	1.83
Price/Tangible Book Value Average	- -	- -	- -	1.4	1.46	1.81	1.9	2.32	2.25	2.04	2.22	2.05
Price/Tangible Book Value High	- -	- -	- -	1.54	1.57	2.13	2.25	2.89	2.79	2.26	2.44	2.36
Price/Tangible Book Value Low	- -	- -	- -	1.25	1.25	1.33	1.08	1.73	1.77	1.76	2	1.71
Price/Sales	- -	- -	- -	7.59	6.06	9.02	9.03	13.12	8.08	8.58	7.48	6.24
Price/Sales Average	- -	- -	- -	7.12	6.76	8	8.41	10.64	10.06	8.28	8.06	6.99
Price/Sales High	- -	- -	- -	7.82	7.24	9.43	9.94	13.25	12.46	9.19	8.84	8.04
Price/Sales Low	- -	- -	- -	6.37	5.8	5.89	4.75	7.94	7.92	7.17	7.25	5.84
Price/Cash Flow	- -	- -	- -	30.42	18.62	24.05	23.62	28.86	17.66	18.85	18.1	14.12
Price/Cash Flow Average	- -	- -	- -	28.54	20.75	21.32	22	23.4	22	18.19	19.5	15.81
Price/Cash Flow High	- -	- -	- -	31.36	22.22	25.13	26	29.15	27.24	20.19	21.4	18.19
Price/Cash Flow Low	- -	- -	- -	25.56	17.81	15.7	12.44	17.46	17.32	15.75	17.56	13.22
Price/Free Cash Flow Average	- -	- -	- -	28.54	20.75	21.37	22.06	23.46	22.05	18.23	19.54	15.82
Price/Free Cash Flow High	- -	- -	- -	31.36	22.22	25.19	26.07	29.23	27.3	20.24	21.44	18.2
Price/Free Cash Flow Low	- -	- -	- -	25.56	17.81	15.74	12.47	17.51	17.36	15.78	17.59	13.23
EV/Sales Average	9.53	8.91	7.99	20.01	13.99	14.16	12.93	14.79	13.46	11.52	11.14	10
EV/Sales High	9.53	8.91	7.99	21.09	14.47	15.61	14.49	17.51	15.86	12.43	11.92	11.05
EV/Sales Low	9.53	8.91	7.99	18.88	13.03	12.01	9.18	11.98	11.31	10.41	10.33	8.86
EV/EBITDA Average	33.51	20.18	15.93	46.7	26.68	26.05	23.09	25.83	23.35	20.4	20.04	18.2
EV/EBITDA High	33.51	20.18	15.93	49.22	27.6	28.74	25.89	30.58	27.52	22.01	21.45	20.11
EV/EBITDA Low	33.51	20.18	15.93	44.05	24.86	22.1	16.4	20.93	19.62	18.43	18.59	16.13
EV/EBIT Average	-220.88	62.64	37.81	148.31	70.31	58.77	50.37	53.6	46.22	40.06	39.35	36.28
EV/EBIT High	-220.88	62.64	37.81	156.29	72.73	64.82	56.46	63.45	54.46	43.22	42.12	40.08
EV/EBIT Low	-220.88	62.64	37.81	139.87	65.5	49.85	35.78	43.42	38.84	36.19	36.51	32.14
Last Price	- -	- -	- -	23.57	20.08	29.97	29.7	45.34	29.64	34.11	31.97	27.79
High Price	- -	- -	- -	24.3	23.97	31.32	32.7	45.8	45.72	36.53	37.8	35.8
Enterprise Value Average	6,279	7,451	7,372	21,104	24,100	24,981	23,564	29,528	30,122	28,024	29,165	27,294
Enterprise Value High	6,279	7,451	7,372	22,239	24,930	27,553	26,414	34,957	35,492	30,235	31,220	30,154
Enterprise Value Low	6,279	7,451	7,372	19,903	22,452	21,189	16,739	23,922	25,312	25,315	27,060	24,181

Shares Outstanding	302	302	302	519	521	542	567	601	611	612	613	611
Diluted Weighted Avg Shares	302	302	302	339	520	532	555	579	611	613	614	613
Basic Weighted Avg Shares	302	302	302	339	520	531	554	578	610	612	613	613
Revenue per Share	2.18	2.77	3.05	3.11	3.31	3.32	3.29	3.46	3.67	3.98	4.28	4.45
EBITDA per Share	0.62	1.22	1.53	1.33	1.74	1.8	1.84	1.98	2.12	2.25	2.38	2.45
Operating Income per Share	-0.09	0.39	0.65	0.42	0.66	0.8	0.84	0.95	1.07	1.14	1.21	1.23
Basic EPS, GAAP	-0.89	-0.53	-0.26	-0.31	-0.01	0.27	0.35	0.45	0.63	0.85	0.74	0.96
Basic EPS from Cont Ops	-0.89	-0.54	-0.26	-0.31	-0.01	0.28	0.36	0.45	0.63	0.85	0.74	0.96
Diluted EPS, GAAP	-0.89	-0.53	-0.26	-0.31	-0.01	0.27	0.35	0.45	0.63	0.85	0.74	0.96
Diluted EPS from Cont Ops	-0.89	-0.54	-0.26	-0.31	-0.01	0.28	0.36	0.45	0.63	0.85	0.74	0.96
Dividend per Share	2.61	2.26	- -	0.2	0.44	0.52	0.6	0.68	0.88	1.04	1.13	1.16
Cash Flow per Share	0.16	0.65	0.85	0.77	1.08	1.25	1.26	1.57	1.68	1.81	1.77	1.97
Free Cash Flow per Basic Share	0.16	0.65	0.85	0.77	1.08	1.25	1.26	1.57	1.68	1.81	1.77	1.97
Cash & Equivalents per Share	0.95	0.91	0.66	0.35	0.28	0.17	0.38	1.02	0.43	1.14	0.28	0.21
Book Value per Share	8.13	6.25	6.48	16.37	15.81	15.17	15	16.3	16.83	16.6	15.93	15.6
Tangible Book Value per Share	8.13	6.25	6.48	15.8	15.31	14.69	14.54	15.87	16.41	16.17	15.51	15.18

Invitation Homes Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)