Invitation Homes Inc.
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INVH Q2 2025 request
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Income Statement
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Operating Lease Lease Income | 659,107 | 637,475 | +3.4% |
| Property Management Fee Revenue | 22,294 | 15,976 | +39.5% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 6,306 | 3,594 | +75.5% |
| Revenue | 681,401 | 653,451 | +4.3% |
| Direct Costs Of Leased And Rented Property Or Equipment | 244,278 | 234,184 | +4.3% |
Show Business Segments breakouts |
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| Reportable Segment | 244,278 | 234,184 | +4.3% |
| Cost Of Other Property Operating Expense | 35,833 | 32,633 | +9.8% |
| General & Administrative | 23,591 | 21,498 | +9.7% |
| Interest Expense Operating | 87,414 | 90,007 | -2.9% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income | 9,057 | 21,465 | -57.8% |
| Depreciation | 185,455 | 176,622 | +5.0% |
Show Property Plant And Equipment By Type breakouts |
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| Components of Properties | 181,059 | 173,319 | +4.5% |
| Furniture And Fixtures | 4,396 | 3,303 | +33.1% |
| Asset Impairment Charges And Casualty Losses | 3,029 | 10,353 | -70.7% |
| Total Costs & Expenses | 579,600 | 565,297 | +2.5% |
| Equity Securities Fv Ni Gain Loss | -90 | 1,504 | -106.0% |
| Other Non-Operating Income (Expense) | -2,133 | -54,012 | +96.1% |
| Gain Loss On Sale Of Properties | 46,591 | 43,267 | +7.7% |
| Income Loss From Equity Method Investments | -4,802 | -5,482 | +12.4% |
| Net Income | 141,367 | 73,431 | +92.5% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 480 | 243 | +97.5% |
| Parent | 140,887 | 73,188 | +92.5% |
| Retained Earnings | 140,887 | 73,188 | +92.5% |
| Net Income Loss Attributable To Noncontrolling Interest | -480 | -243 | -97.5% |
| Net Income | 140,887 | 73,188 | +92.5% |
| Undistributed Earnings Loss Allocated To Participating Securities Basic | -222 | -207 | -7.2% |
| Net Income Loss Available To Common Stockholders Basic | 140,665 | 72,981 | +92.7% |
| Net Income Loss Available To Common Stockholders Diluted | 140,665 | 72,981 | +92.7% |
| Wtd Avg Shares (Basic) | 613,048,193 | 612,628,758 | +0.1% |
| Wtd Avg Shares (Diluted) | 613,261,904 | 613,823,339 | -0.1% |
| EPS (Basic) | 0.23 | 0.12 | +91.7% |
| EPS (Diluted) | 0.23 | 0.12 | +91.7% |
| Comprehensive Income | 121,123 | 62,342 | +94.3% |
Balance Sheet
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 65,112 | 749,398 | -91.3% |
| Non-Current Assets | |||
| Goodwill | 258,207 | 258,207 | 0.0% |
| Total Assets | 18,662,005 | 19,239,443 | -3.0% |
| Property, Plant & Equipment | 48,124 | 39,015 | +23.3% |
| Operating Lease Right-of-Use Assets | 22,693 | 21,869 | +3.8% |
| Other Assets | |||
| Investment Building And Building Improvements | 17,588,206 | 16,874,787 | +4.2% |
| Real Estate Investment Property At Cost | 22,548,692 | — | — |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,910,392 | — | — |
| Real Estate Investment Property Accumulated Depreciation | -5,186,763 | -4,577,872 | -13.3% |
| Real Estate Investment Property Net | 17,361,929 | — | — |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,327,562 | — | — |
| Restricted Cash And Cash Equivalents | 218,612 | 213,780 | +2.3% |
Show Restricted Cash And Cash Equivalents Cash And Cash Equivalents breakouts |
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| Capital expenditures | 1,623 | 2,297 | -29.3% |
| Collections | 6,786 | 9,811 | -30.8% |
| Letters of credit | 2,536 | 2,556 | -0.8% |
| Property taxes | 10,328 | 15,286 | -32.4% |
| Resident security deposits | 186,004 | 183,139 | +1.6% |
| Special and other reserves | 276 | 691 | -60.1% |
| Tax deferred property exchange deposits | 11,059 | — | — |
| Equity Method Investments | 232,614 | 268,808 | -13.5% |
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts |
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| 2020 Rockpoint JV | 40,378 | 59,764 | -32.4% |
| 2022 Rockpoint JV | 9,800 | 10,352 | -5.3% |
| 2024 Peregrine JV | 6,138 | — | — |
| FNMA | 15,313 | 26,494 | -42.2% |
| Pathway Operating Company | 20,867 | 20,815 | +0.2% |
| Pathway Property Company | 105,677 | 113,542 | -6.9% |
| Upward America JV | 34,441 | 37,841 | -9.0% |
| Other Assets | 525,531 | 584,442 | -10.1% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 308,347 | 354,307 | -13.0% |
| Total Liabilities | 8,956,709 | 9,172,734 | -2.4% |
| Long-Term Debt | 8,174,505 | — | — |
Show Credit Facility breakouts |
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| Unsecured Debt · Line Of Credit | 2,447,555 | — | — |
Show Long-Term Debt Type breakouts |
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| Revolving Credit Facility | 540,000 | — | — |
| Secured Debt | 1,382,965 | — | — |
| Senior Notes | 3,803,985 | — | — |
| Unsecured Debt | 2,447,555 | — | — |
| Other Liabilities | |||
| Secured Debt | 1,382,965 | 1,617,967 | -14.5% |
| Senior Notes | 3,803,985 | 3,308,276 | +15.0% |
| Unsecured Debt | 2,447,555 | 3,215,993 | -23.9% |
| Line Of Credit | 540,000 | — | — |
| Security Deposit Liability | 184,656 | 179,833 | +2.7% |
| Other Liabilities | 289,201 | 94,818 | +205.0% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 6,130 | 6,126 | +0.1% |
| Additional Paid-In Capital | 11,181,950 | 11,159,835 | +0.2% |
| Retained Earnings | -1,531,350 | -1,198,481 | -27.8% |
| Accumulated Other Comprehensive Income | 11,556 | 63,981 | -81.9% |
| Total Stockholders' Equity | 9,668,286 | 10,031,461 | -3.6% |
| Minority Interest | 37,010 | 35,248 | +5.0% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 9,705,296 | 10,066,709 | -3.6% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 11,556 | 63,981 | -81.9% |
| Additional Paid In Capital | 11,181,950 | 11,159,835 | +0.2% |
| Common Stock | 6,130 | 6,126 | +0.1% |
| Noncontrolling Interest | 37,010 | 35,248 | +5.0% |
| Parent | 9,668,286 | 10,031,461 | -3.6% |
| Retained Earnings | -1,531,350 | -1,198,481 | -27.8% |
| Total Liabilities & Equity | 18,662,005 | 19,239,443 | -3.0% |
| Land | 4,960,486 | 4,867,893 | +1.9% |
Cash Flow Statement
| Metric | YTD Q2 2025 | YTD Q2 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 18,621 | 15,392 | +21.0% |
| Amortization of Financing Costs | 10,705 | 8,400 | +27.4% |
| Amortization Of Debt Discount Premium | 1,570 | 1,317 | +19.2% |
| Impairment Of Real Estate | 99 | 60 | +65.0% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring | 99 | 60 | +65.0% |
| Unrealized Gain Loss On Derivatives | -6,152 | 4,643 | -232.5% |
| Income Loss From Equity Method Investments Net Of Dividends Or Distributions | 11,314 | 11,826 | -4.3% |
| Other Non-Cash Items | 2,168 | 11,353 | -80.9% |
| Increase Decrease In Other Operating Assets | -17,586 | -40,780 | +56.9% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 97,288 | 150,233 | -35.2% |
| Increase Decrease In Security Deposits | 3,790 | -622 | +709.3% |
| Increase Decrease In Other Operating Liabilities | 2,857 | 468 | +510.5% |
| Net Cash from Operations | 682,978 | 635,382 | +7.5% |
| Investing Activities | |||
| Payments For Proceeds From Other Deposits | 8,934 | -2,013 | +543.8% |
| Payments To Acquire Residential Real Estate | -510,836 | -244,337 | -109.1% |
| Payments For Capital Improvements | -15,311 | -14,441 | -6.0% |
| Payments To Acquire Other Productive Assets | -110,863 | -99,132 | -11.8% |
| Proceeds From Sale Of Real Estate Heldforinvestment | 267,692 | 218,751 | +22.4% |
| Payments To Acquire Equity Securities Fv Ni | -1,135 | -511 | -122.1% |
| Payments To Acquire Equity Method Investments | -12,873 | -38,928 | +66.9% |
| Proceeds From Real Estate And Real Estate Joint Ventures | 11,360 | 5,460 | +108.1% |
| Other Investing Activities | -53,883 | -25,490 | -111.4% |
| Net Cash from Investing | -416,915 | -200,200 | -108.2% |
| Capital Expenditures Incurred But Not Yet Paid Renovation Improvements | 1,121 | 1,507 | -25.6% |
| Capital Expenditures Incurred But Not Yet Paid Residential Property Capital Improvements | 10,799 | 10,687 | +1.0% |
| Reclassification Of Inventory Real Estate Held For Sale | 56,792 | 64,070 | -11.4% |
| Increase Decrease In Fair Value Of Cash Flow Hedges | -43,418 | -4,350 | -898.1% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 4,881 | 14,408 | -66.1% |
| Right Of Use Asset Obtained In Exchange For Finance Lease Liability | 2,907 | 4,002 | -27.4% |
| Dividends Payable Current And Noncurrent | 178,020 | — | — |
| Financing Activities | |||
| Payments Of Dividends | -356,806 | -344,938 | -3.4% |
| Payments To Minority Shareholders | -1,330 | -1,564 | +15.0% |
| Tax Withholding for Share Compensation | -5,529 | -10,630 | +48.0% |
| Repayments Of Secured Debt | -3,799 | -10,531 | +63.9% |
Show Long-Term Debt Type breakouts |
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| Secured Debt | -3,799 | -10,448 | +63.6% |
| Proceeds From Lines Of Credit | 270,000 | — | — |
| Repayments Of Lines Of Credit | -300,000 | — | — |
| Debt Issuance Costs | -3,128 | — | — |
| Proceeds From Payments For Other Financing Activities | -1,440 | -1,825 | +21.1% |
| Net Cash from Financing | -402,032 | -369,488 | -8.8% |
| Supplemental | |||
| Interest Paid | 163,289 | 167,247 | -2.4% |
| Interest Costs Capitalized | 1,064 | 1,148 | -7.3% |
| Income Taxes Paid | 67 | 94 | -28.7% |
| Operating Lease Payments | 1,991 | 3,287 | -39.4% |
| Finance Lease Principal Payments | 1,443 | 1,825 | -20.9% |
| Other Cash Flow | |||
| Net Change in Cash | -135,969 | 65,694 | -307.0% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 283,724 | 963,178 | -70.5% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.