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Invitation Homes Inc (INVH) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Single-Family Residential REITs · DATA UPDATED 2026-07-18

Invitation Homes Inc (INVH) operates in the Single-Family Residential REITs industry and is headquartered in Dallas, United States with about 1,725 employees. Its market capitalization is roughly $18 billion. In the fiscal year ended 2025-12-31, INVH reported $2.7B in revenue and $588M in net income.

Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high quality homes in sought after neighborhoods across the United States.

Interactive charts & full statements → Open the INVH valuation workbench →

INVH Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Total Revenue	$2.8B	$2.7B	$2.6B	$2.4B	$2.2B	$2.0B	$1.8B	$1.8B	$1.7B	$1.1B	$923M	$836M	$659M
Gross Profit	$1.3B	$101M	$1.5B	$1.5B	$1.4B	$1.2B	$1.1B	$1.0B	$1.0B	$620M	$532M	$449M	$276M
Gross Margin %	45.0%	3.7%	59.0%	59.9%	60.9%	61.1%	59.5%	58.5%	58.2%	58.8%	57.6%	53.7%	41.8%
Operating Income (EBIT)	$869M	$741M	$741M	$700M	$652M	$551M	$468M	$425M	$343M	$118M	$191M	$114M	($32M)
Operating Margin %	31.2%	27.2%	28.3%	28.8%	29.1%	27.6%	25.7%	24.1%	19.9%	11.2%	20.7%	13.7%	-4.8%
Net Income	$583M	$588M	$454M	$519M	$383M	$261M	$196M	$145M	($5M)	($105M)	($78M)	($160M)	($270M)
Net Margin %	20.9%	21.5%	17.3%	21.4%	17.1%	13.1%	10.8%	8.2%	-0.3%	-10.0%	-8.5%	-19.2%	-41.0%
EBITDA	$1.7B	$1.5B	$1.5B	$1.5B	$1.3B	$1.2B	$1.1B	$1.0B	$939M	$461M	$475M	$361M	$182M
Earnings Per Share (EPS)	$0.95	$0.96	$0.74	$0.85	$0.63	$0.45	$0.35	$0.27	$-0.01	$-0.31	$-0.26	$-0.53	$-0.89
Shares Outstanding (M)	606M	613M	614M	613M	611M	579M	555M	532M	520M	339M	302M	302M	302M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INVH Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$734M	$685M	$688M	$681M	$674M	$659M	$660M	$653M
Gross Profit	$405M	$21M	$429M	$401M	$400M	$391M	$384M	$387M
Gross Margin %	55.1%	3.1%	62.4%	58.9%	59.4%	59.4%	58.1%	59.2%
Operating Income (EBIT)	$79M	$187M	$411M	$192M	$188M	$186M	$182M	$189M
Operating Margin %	10.8%	27.3%	59.7%	28.2%	27.8%	28.1%	27.5%	28.8%
Net Income	$161M	$145M	$137M	$141M	$166M	$143M	$95M	$73M
Net Margin %	21.9%	21.1%	19.9%	20.7%	24.6%	21.7%	14.4%	11.2%
EBITDA	$450M	$371M	$416M	$414M	$434M	$421M	$367M	$340M
Earnings Per Share (EPS)	$0.26	$0.24	$0.22	$0.23	$0.27	$0.23	$0.16	$0.12
Shares Outstanding (M)	606M	613M	613M	613M	613M	613M	614M	614M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INVH Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Cash from Operations (CFO)	$1.2B	$1.2B	$1.1B	$1.1B	$1.0B	$908M	$697M	$662M	$561M	$260M	$250M	$197M	$48M
Capital Expenditures (CapEx)	$287M	$243M	$219M	$221M	$208M	$163M	$172M	$164M	$146M	$63M	$50M	$52M	$61M
Free Cash Flow (FCF)	$912M	$963M	$862M	$886M	$816M	$745M	$524M	$498M	$416M	$197M	$200M	$146M	($13M)
FCF Margin %	32.7%	35.3%	32.9%	36.4%	36.4%	37.3%	28.8%	28.2%	24.1%	18.7%	21.7%	17.4%	-1.9%
Dividends Paid	$719M	$713M	$689M	$638M	$539M	$394M	$332M	$277M	$230M	$69M	$0M	$683M	$788M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INVH Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$293M	$129M	$395M	$382M	$301M	$133M	$314M	$371M
Capital Expenditures (CapEx)	$57M	$59M	$111M	$60M	$51M	$52M	$69M	$61M
Free Cash Flow (FCF)	$236M	$70M	$284M	$323M	$250M	$81M	$245M	$311M
FCF Margin %	32.1%	10.2%	41.2%	47.3%	37.0%	12.3%	37.1%	47.6%
Dividends Paid	$185M	$178M	$178M	$179M	$178M	$173M	$172M	$172M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INVH Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Total Assets	$18.7B	$18.7B	$18.7B	$19.2B	$18.5B	$18.5B	$17.5B	$17.4B	$18.1B	$18.7B	$9.7B	$9.8B	$9.2B
Cash & Cash Equivalents	$114M	$130M	$174M	$701M	$263M	$610M	$213M	$92M	$145M	$180M	$198M	$275M	$286M
Total Liabilities	$9.6B	$9.1B	$8.9B	$9.0B	$8.2B	$8.7B	$8.9B	$9.1B	$9.7B	$10.0B	$7.8B	$7.9B	$6.7B
Total Debt (Short + Long-Term)	$8.8B	$8.4B	$8.2B	$9.2B	$8.4B	$10.2B	$11.9B	$8.5B	$11.5B	$9.7B	$9.9B	$10.1B	$7.8B
Total Shareholders' Equity	$9.1B	$9.5B	$9.8B	$10.2B	$10.3B	$9.8B	$8.6B	$8.3B	$8.4B	$8.7B	$2.0B	$1.9B	$2.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive INVH viewer.

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