Invitation Homes Inc.
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INVH Q3 2025 request
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Income Statement
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Operating Lease Lease Income | 666,191 | 641,342 | +3.9% |
| Property Management Fee Revenue | 21,975 | 18,980 | +15.8% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 6,317 | 4,580 | +37.9% |
| Revenue | 688,166 | 660,322 | +4.2% |
| Direct Costs Of Leased And Rented Property Or Equipment | 259,037 | 242,228 | +6.9% |
Show Business Segments breakouts |
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| Reportable Segment | 259,037 | 242,228 | +6.9% |
| Cost Of Other Property Operating Expense | 37,073 | 34,382 | +7.8% |
| General & Administrative | 18,444 | 21,727 | -15.1% |
| Interest Expense Operating | 90,781 | 91,060 | -0.3% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income | 6,209 | 21,222 | -70.7% |
| Depreciation | 188,457 | 180,479 | +4.4% |
Show Property Plant And Equipment By Type breakouts |
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| Components of Properties | 183,653 | 176,174 | +4.2% |
| Furniture And Fixtures | 4,804 | 4,305 | +11.6% |
| Asset Impairment Charges And Casualty Losses | 3,420 | 20,872 | -83.6% |
| Total Costs & Expenses | 597,212 | 590,748 | +1.1% |
| Equity Securities Fv Ni Gain Loss | 380 | -257 | +247.9% |
| Other Non-Operating Income (Expense) | -1,769 | -9,345 | +81.1% |
| Gain Loss On Sale Of Properties | 45,515 | 47,766 | -4.7% |
| Income Loss From Equity Method Investments | 2,130 | -12,160 | +117.5% |
| Net Income | 137,210 | 95,578 | +43.6% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 472 | 309 | +52.8% |
| Parent | 136,738 | 95,269 | +43.5% |
| Retained Earnings | 136,738 | 95,269 | +43.5% |
| Net Income Loss Attributable To Noncontrolling Interest | -472 | -309 | -52.8% |
| Net Income | 136,738 | 95,269 | +43.5% |
| Undistributed Earnings Loss Allocated To Participating Securities Basic | -264 | -185 | -42.7% |
| Net Income Loss Available To Common Stockholders Basic | 136,474 | 95,084 | +43.5% |
| Net Income Loss Available To Common Stockholders Diluted | 136,474 | 95,084 | +43.5% |
| Wtd Avg Shares (Basic) | 613,084,571 | 612,674,802 | +0.1% |
| Wtd Avg Shares (Diluted) | 613,084,571 | 613,645,188 | -0.1% |
| EPS (Basic) | 0.22 | 0.16 | +37.5% |
| EPS (Diluted) | 0.22 | 0.15 | +46.7% |
| Comprehensive Income | 132,977 | 52,598 | +152.8% |
Balance Sheet
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 155,370 | 1,027,199 | -84.9% |
| Non-Current Assets | |||
| Goodwill | 258,207 | 258,207 | 0.0% |
| Total Assets | 18,782,776 | 19,632,848 | -4.3% |
| Property, Plant & Equipment | 47,663 | 38,479 | +23.9% |
| Operating Lease Right-of-Use Assets | 33,146 | 20,865 | +58.9% |
| Other Assets | |||
| Investment Building And Building Improvements | 17,731,477 | 17,121,848 | +3.6% |
| Real Estate Investment Property At Cost | 22,702,162 | — | — |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,921,035 | — | — |
| Real Estate Investment Property Accumulated Depreciation | -5,345,858 | -4,726,032 | -13.1% |
| Real Estate Investment Property Net | 17,356,304 | — | — |
Show Collateral breakouts |
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| Residential Real Estate · Secured Debt | 1,320,802 | — | — |
| Restricted Cash And Cash Equivalents | 240,298 | 218,273 | +10.1% |
Show Restricted Cash And Cash Equivalents Cash And Cash Equivalents breakouts |
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| Capital expenditures | 1,355 | 2,297 | -41.0% |
| Collections | 6,685 | 11,467 | -41.7% |
| Letters of credit | 2,485 | 2,716 | -8.5% |
| Property taxes | 17,076 | 20,525 | -16.8% |
| Resident security deposits | 185,129 | 180,577 | +2.5% |
| Special and other reserves | 276 | 691 | -60.1% |
| Tax deferred property exchange deposits | 27,292 | — | — |
| Equity Method Investments | 255,867 | 244,647 | +4.6% |
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts |
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| 2020 Rockpoint JV | 38,376 | 46,129 | -16.8% |
| 2022 Rockpoint JV | 10,694 | 10,074 | +6.2% |
| 2024 Peregrine JV | 13,271 | — | — |
| FNMA | 18,054 | 23,820 | -24.2% |
| Pathway Operating Company | 27,118 | 20,735 | +30.8% |
| Pathway Property Company | 115,226 | 106,565 | +8.1% |
| Upward America JV | 33,128 | 37,324 | -11.2% |
| Other Assets | 516,730 | 599,891 | -13.9% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 407,288 | 398,894 | +2.1% |
| Total Liabilities | 9,119,826 | 9,681,186 | -5.8% |
| Long-Term Debt | 8,230,284 | — | — |
Show Credit Facility breakouts |
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| Unsecured Debt · Line Of Credit | 2,449,770 | — | — |
Show Long-Term Debt Type breakouts |
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| Secured Debt | 1,383,541 | — | — |
| Senior Notes | 4,396,973 | — | — |
| Unsecured Debt | 2,449,770 | — | — |
| Other Liabilities | |||
| Secured Debt | 1,383,541 | 1,614,220 | -14.3% |
| Senior Notes | 4,396,973 | 3,799,034 | +15.7% |
| Unsecured Debt | 2,449,770 | 2,444,054 | +0.2% |
| Security Deposit Liability | 184,315 | 180,484 | +2.1% |
| Other Liabilities | 297,939 | 92,905 | +220.7% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 6,130 | 6,126 | +0.1% |
| Additional Paid-In Capital | 11,183,482 | 11,164,240 | +0.2% |
| Retained Earnings | -1,571,463 | -1,275,601 | -23.2% |
| Accumulated Other Comprehensive Income | 7,795 | 21,310 | -63.4% |
| Total Stockholders' Equity | 9,625,944 | 9,916,075 | -2.9% |
| Minority Interest | 37,006 | 35,587 | +4.0% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 9,662,950 | 9,951,662 | -2.9% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 7,795 | 21,310 | -63.4% |
| Additional Paid In Capital | 11,183,482 | 11,164,240 | +0.2% |
| Common Stock | 6,130 | 6,126 | +0.1% |
| Noncontrolling Interest | 37,006 | 35,587 | +4.0% |
| Parent | 9,625,944 | 9,916,075 | -2.9% |
| Retained Earnings | -1,571,463 | -1,275,601 | -23.2% |
| Total Liabilities & Equity | 18,782,776 | 19,632,848 | -4.3% |
| Land | 4,970,685 | 4,888,815 | +1.7% |
Cash Flow Statement
| Metric | YTD Q3 2025 | YTD Q3 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 20,537 | 20,809 | -1.3% |
| Amortization of Financing Costs | 16,059 | 13,410 | +19.8% |
| Amortization Of Debt Discount Premium | 2,410 | 2,001 | +20.4% |
| Impairment Of Real Estate | 434 | 330 | +31.5% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring | 434 | 330 | +31.5% |
| Unrealized Gain Loss On Derivatives | -5,541 | 7,167 | -177.3% |
| Income Loss From Equity Method Investments Net Of Dividends Or Distributions | 9,926 | 24,644 | -59.7% |
| Other Non-Cash Items | 8,480 | 23,472 | -63.9% |
| Increase Decrease In Other Operating Assets | -10,437 | -33,325 | +68.7% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 193,385 | 193,480 | -0.0% |
| Increase Decrease In Security Deposits | 3,449 | 29 | +11793.1% |
| Increase Decrease In Other Operating Liabilities | 802 | -4,660 | +117.2% |
| Net Cash from Operations | 1,077,580 | 948,997 | +13.5% |
| Investing Activities | |||
| Payments For Proceeds From Other Deposits | 29,529 | -510 | +5890.0% |
| Payments To Acquire Residential Real Estate | -680,818 | -543,039 | -25.4% |
| Payments For Capital Improvements | -22,069 | -22,830 | +3.3% |
| Payments To Acquire Other Productive Assets | -183,964 | -167,677 | -9.7% |
| Proceeds From Sale Of Real Estate Heldforinvestment | 373,806 | 305,849 | +22.2% |
| Payments To Acquire Equity Securities Fv Ni | -2,259 | -3,448 | +34.5% |
| Payments To Acquire Equity Method Investments | -39,779 | -39,546 | -0.6% |
| Proceeds From Real Estate And Real Estate Joint Ventures | 16,401 | 17,421 | -5.9% |
| Other Investing Activities | -61,840 | -39,557 | -56.3% |
| Net Cash from Investing | -570,993 | -492,697 | -15.9% |
| Capital Expenditures Incurred But Not Yet Paid Renovation Improvements | 1,290 | 1,978 | -34.8% |
| Capital Expenditures Incurred But Not Yet Paid Residential Property Capital Improvements | 11,649 | 10,878 | +7.1% |
| Reclassification Of Inventory Real Estate Held For Sale | 98,581 | 124,483 | -20.8% |
| Increase Decrease In Fair Value Of Cash Flow Hedges | -47,803 | -49,683 | +3.8% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 16,426 | 14,408 | +14.0% |
| Right Of Use Asset Obtained In Exchange For Finance Lease Liability | 3,872 | 8,508 | -54.5% |
| Dividends Payable Current And Noncurrent | 178,016 | — | — |
| Financing Activities | |||
| Payments Of Dividends | -534,826 | -516,649 | -3.5% |
| Payments To Minority Shareholders | -1,951 | -2,144 | +9.0% |
| Tax Withholding for Share Compensation | -5,755 | -10,894 | +47.2% |
| Repayments Of Secured Debt | -3,799 | -14,857 | +74.4% |
Show Long-Term Debt Type breakouts |
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| Secured Debt | -3,799 | -14,774 | +74.3% |
| Proceeds From Issuance Of Senior Long Term Debt | 596,862 | 494,275 | +20.8% |
| Proceeds From Lines Of Credit | 400,000 | 750,000 | -46.7% |
| Repayments Of Lines Of Credit | -970,000 | — | — |
| Debt Issuance Costs | -8,803 | -54,270 | +83.8% |
| Proceeds From Payments For Other Financing Activities | -2,340 | -3,773 | +38.0% |
| Net Cash from Financing | -530,612 | -108,312 | -389.9% |
| Supplemental | |||
| Interest Paid | 257,056 | 247,592 | +3.8% |
| Interest Costs Capitalized | 1,401 | 1,732 | -19.1% |
| Income Taxes Paid | 70 | 107 | -34.6% |
| Operating Lease Payments | 3,324 | 4,814 | -31.0% |
| Finance Lease Principal Payments | 2,340 | 2,633 | -11.1% |
| Other Cash Flow | |||
| Net Change in Cash | -24,025 | 347,988 | -106.9% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 395,668 | 1,245,472 | -68.2% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.