Invitation Homes Inc.
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INVH FY 2025 request
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Income Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Lease Lease Income | 2,641,957 | 2,548,964 | +3.6% |
| Property Management Fee Revenue | 87,339 | 69,978 | +24.8% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 24,930 | 18,222 | +36.8% |
| Revenue | 2,729,296 | 2,618,942 | +4.2% |
| Direct Costs Of Leased And Rented Property Or Equipment | 985,587 | 935,273 | +5.4% |
Show Business Segments breakouts |
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| Reportable Segment | 985,587 | 935,273 | +5.4% |
| Cost Of Other Property Operating Expense | 149,130 | 137,490 | +8.5% |
| General & Administrative | 95,250 | 90,612 | +5.1% |
| Interest Expense Operating | 353,327 | 366,070 | -3.5% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income | 30,439 | 75,772 | -59.8% |
| Depreciation | 746,933 | 714,326 | +4.6% |
Show Property Plant And Equipment By Type breakouts |
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| Components of Properties | 728,652 | 699,474 | +4.2% |
| Fixed Assets | 18,281 | 14,852 | +23.1% |
| Asset Impairment Charges And Casualty Losses | 11,443 | 82,925 | -86.2% |
| Total Costs & Expenses | 2,341,670 | 2,326,696 | +0.6% |
| Gain Loss On Sale Of Properties | 218,235 | 244,550 | -10.8% |
| Income Loss From Equity Method Investments | -11,607 | -28,445 | +59.2% |
| Other Non-Operating Income (Expense) | -4,345 | -52,986 | +91.8% |
| Net Income | 589,909 | 455,365 | +29.5% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 1,985 | 1,448 | +37.1% |
| Parent | 587,924 | 453,917 | +29.5% |
| Retained Earnings | 587,924 | 453,917 | +29.5% |
| Net Income Loss Attributable To Noncontrolling Interest | -1,985 | -1,448 | -37.1% |
| Net Income | 587,924 | 453,917 | +29.5% |
| Undistributed Earnings Loss Allocated To Participating Securities Basic | -960 | -753 | -27.5% |
| Net Income Loss Available To Common Stockholders Basic | 586,964 | 453,164 | +29.5% |
| Net Income Loss Available To Common Stockholders Diluted | 586,964 | 453,164 | +29.5% |
| Wtd Avg Shares (Basic) | 612,948,321 | 612,551,317 | +0.1% |
| Wtd Avg Shares (Diluted) | 613,177,806 | 613,631,617 | -0.1% |
| EPS (Basic) | 0.96 | 0.74 | +29.7% |
| EPS (Diluted) | 0.96 | 0.74 | +29.7% |
| Comprehensive Income | 533,370 | 451,184 | +18.2% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 129,971 | 174,491 | -25.5% |
| Non-Current Assets | |||
| Goodwill | 258,207 | 258,207 | 0.0% |
| Total Assets | 18,680,290 | 18,700,951 | -0.1% |
| Property, Plant & Equipment | 56,613 | 42,704 | +32.6% |
| Operating Lease Right-of-Use Assets | 32,133 | 19,772 | +62.5% |
| Other Assets | |||
| Investment Building And Building Improvements | 17,789,827 | 17,180,308 | +3.5% |
| Real Estate Investment Property At Cost | 22,776,180 | 22,081,500 | +3.1% |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,929,649 | 1,900,818 | +1.5% |
| Real Estate Investment Property Accumulated Depreciation | -5,501,558 | -4,869,374 | -13.0% |
| Real Estate Investment Property Net | 17,274,622 | 17,212,126 | +0.4% |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,311,955 | 1,350,641 | -2.9% |
| Restricted Cash And Cash Equivalents | 224,894 | 245,202 | -8.3% |
Show Restricted Cash And Cash Equivalents Cash And Cash Equivalents breakouts |
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| Capital expenditures | 1,623 | 1,623 | 0.0% |
| Collections | 8,177 | 7,365 | +11.0% |
| Letters of credit | 2,510 | 2,495 | +0.6% |
| Property taxes | 4,079 | 4,343 | -6.1% |
| Resident security deposits | 184,883 | 181,549 | +1.8% |
| Special and other reserves | 276 | 276 | 0.0% |
| Tax deferred property exchange deposits | 23,346 | 47,551 | -50.9% |
| Equity Method Investments | 254,561 | 241,605 | +5.4% |
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts |
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| 2020 Rockpoint JV | 36,885 | 44,846 | -17.8% |
| 2022 Rockpoint JV | 13,272 | 10,426 | +27.3% |
| 2024 Peregrine JV | 16,073 | 3,226 | +398.2% |
| FNMA | 17,280 | 22,072 | -21.7% |
| Pathway Operating Company | 26,948 | 20,706 | +30.1% |
| Pathway Property Company | 111,811 | 102,520 | +9.1% |
| Upward America JV | 32,292 | 37,809 | -14.6% |
| Other Assets | 538,035 | 569,320 | -5.5% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 230,350 | 247,709 | -7.0% |
| Total Liabilities | 9,112,398 | 8,908,442 | +2.3% |
| Long-Term Debt | 8,380,020 | — | — |
Show Credit Facility breakouts |
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| Unsecured Debt · Line Of Credit | 2,451,985 | 2,446,041 | +0.2% |
Show Long-Term Debt Type breakouts |
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| Revolving Credit Facility | 145,000 | — | — |
| Secured Debt | 1,384,114 | 1,385,573 | -0.1% |
| Senior Notes | 4,398,921 | 3,800,688 | +15.7% |
| Unsecured Debt | 2,451,985 | — | — |
| Other Liabilities | |||
| Secured Debt | 1,384,114 | 1,385,573 | -0.1% |
| Senior Notes | 4,398,921 | 3,800,688 | +15.7% |
| Unsecured Debt | 2,451,985 | 2,446,041 | +0.2% |
| Line Of Credit | 145,000 | 570,000 | -74.6% |
| Security Deposit Liability | 184,536 | 180,866 | +2.0% |
| Other Liabilities | 317,492 | 277,565 | +14.4% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 6,108 | 6,126 | -0.3% |
| Additional Paid-In Capital | 11,128,590 | 11,170,597 | -0.4% |
| Retained Earnings | -1,610,981 | -1,480,928 | -8.8% |
| Accumulated Other Comprehensive Income | 6,415 | 60,969 | -89.5% |
| Total Stockholders' Equity | 9,530,132 | 9,756,764 | -2.3% |
| Minority Interest | 37,760 | 35,745 | +5.6% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 9,567,892 | 9,792,509 | -2.3% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 6,415 | 60,969 | -89.5% |
| Additional Paid In Capital | 11,128,590 | 11,170,597 | -0.4% |
| Common Stock | 6,108 | 6,126 | -0.3% |
| Noncontrolling Interest | 37,760 | 35,745 | +5.6% |
| Parent | 9,530,132 | 9,756,764 | -2.3% |
| Retained Earnings | -1,610,981 | -1,480,928 | -8.8% |
| Total Liabilities & Equity | 18,680,290 | 18,700,951 | -0.1% |
| Land | 4,986,353 | 4,901,192 | +1.7% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 27,830 | 27,918 | -0.3% |
| Amortization of Financing Costs | 21,503 | 18,598 | +15.6% |
| Amortization Of Debt Discount Premium | 3,303 | 2,765 | +19.5% |
| Impairment Of Real Estate | 657 | 506 | +29.8% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring | 657 | 506 | +29.8% |
| Unrealized Gain Loss On Derivatives | -4,988 | 12,419 | -140.2% |
| Income Loss From Equity Method Investments Net Of Dividends Or Distributions | 13,958 | 31,063 | -55.1% |
| Other Non-Cash Items | 7,769 | 42,503 | -81.7% |
| Increase Decrease In Other Operating Assets | -8,785 | -29,234 | +69.9% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 19,608 | 46,502 | -57.8% |
| Increase Decrease In Security Deposits | 3,670 | 411 | +792.9% |
| Increase Decrease In Other Operating Liabilities | 3,098 | 3,213 | -3.6% |
| Net Cash from Operations | 1,206,230 | 1,081,805 | +11.5% |
| Investing Activities | |||
| Payments To Acquire Residential Real Estate | -752,893 | -737,939 | -2.0% |
| Payments For Capital Improvements | -28,332 | -30,605 | +7.4% |
| Payments To Acquire Other Productive Assets | -242,752 | -219,394 | -10.6% |
| Proceeds From Sale Of Real Estate Heldforinvestment | 498,106 | 585,176 | -14.9% |
| Payments To Acquire Land | -20,197 | — | — |
| Payments To Acquire Equity Securities Fv Ni | -2,892 | -4,718 | +38.7% |
| Payments To Acquire Equity Method Investments | -45,682 | -44,186 | -3.4% |
| Proceeds From Real Estate And Real Estate Joint Ventures | 19,578 | 18,684 | +4.8% |
| Other Investing Activities | -77,503 | -65,092 | -19.1% |
| Net Cash from Investing | -652,567 | -465,870 | -40.1% |
| Capital Expenditures Incurred But Not Yet Paid Renovation Improvements | 735 | 1,294 | -43.2% |
| Capital Expenditures Incurred But Not Yet Paid Residential Property Capital Improvements | 8,781 | 8,463 | +3.8% |
| Reclassification Of Inventory Real Estate Held For Sale | 150,687 | 174,460 | -13.6% |
| Increase Decrease In Fair Value Of Cash Flow Hedges | -49,741 | -15,148 | -228.4% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 16,426 | 14,438 | +13.8% |
| Right Of Use Asset Obtained In Exchange For Finance Lease Liability | 8,260 | 8,739 | -5.5% |
| Dividends Payable Current And Noncurrent | 183,962 | 176,952 | +4.0% |
| Repurchases Of Common Stock Accrued But Not Paid | 8,091 | — | — |
| Financing Activities | |||
| Payments Of Dividends | -712,842 | -689,244 | -3.4% |
| Payments To Minority Shareholders | -2,591 | -3,326 | +22.1% |
| Share Repurchases | -53,207 | — | — |
| Tax Withholding for Share Compensation | -5,761 | -10,894 | +47.1% |
| Repayments Of Secured Debt | -3,798 | -645,749 | +99.4% |
Show Long-Term Debt Type breakouts |
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| Secured Debt | -3,798 | -645,666 | +99.4% |
| Proceeds From Issuance Of Senior Long Term Debt | 596,862 | 494,275 | +20.8% |
| Proceeds From Lines Of Credit | 545,000 | 750,000 | -27.3% |
| Repayments Of Lines Of Credit | -970,000 | -180,000 | -438.9% |
| Debt Issuance Costs | -8,803 | -54,246 | +83.8% |
| Proceeds From Payments For Other Financing Activities | -3,351 | -4,542 | +26.2% |
| Net Cash from Financing | -618,491 | -1,093,726 | +43.5% |
| Supplemental | |||
| Interest Paid | 322,944 | 321,328 | +0.5% |
| Interest Costs Capitalized | 1,528 | 2,128 | -28.2% |
| Income Taxes Paid | 84 | 158 | -46.8% |
| Operating Lease Payments | 4,509 | 6,367 | -29.2% |
| Finance Lease Principal Payments | 3,351 | 3,402 | -1.5% |
| Other Cash Flow | |||
| Net Change in Cash | -64,828 | -477,791 | +86.4% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 354,865 | 419,693 | -15.4% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.