Invitation Homes (INVH) FY2020 results: revenue $1.8 billion, up 3.3% on the year
Invitation Homes Inc. (INVH) reported revenue of $1.8 billion for fiscal 2020, the year ended 31 December 2020, up 3.3% on the year before. Net income was $196 million, up 34.9%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$1.8 billion
+3.3% on the year
FY2015FY2020
Operating margin
6.2%
2.2% a year earlier
FY2015FY2020
Net income
$196 million
+34.9% on the year
FY2015FY2020
Diluted EPS
$0.35
+29.6% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,823
1,765
1,723
+3.3%
Operating income
113
39.2
-61.7
+189.0%
Operating margin
6.2%
2.2%
-3.6%
Interest expense
354
367
384
-3.6%
Income tax
0.9
2.5
1.2
-65.1%
Net income
196
145
-4.9
+34.9%
Net margin
10.8%
8.2%
-0.3%
Diluted EPS
$0.35
$0.27
-$0.01
+29.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
697
662
561
+5.2%
Capital expenditure
98.8
57.4
4.0
+72.0%
Free cash flow
598
605
557
-1.1%
Free cash flow margin
32.8%
34.3%
32.3%
Cash from investing
-425
102
63.0
Cash from financing
-146
-838
-681
Share-based compensation
17.1
18.2
29.5
-5.9%
Dividends paid
332
277
230
+20.0%
Dividend per share
$0.60
$0.52
$0.44
+15.4%
Diluted shares, weighted
555m
532m
520m
+4.3%
Shares outstanding at period end
567m
542m
521m
+4.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,505
8,214
8,229
+3.5%
Non-controlling interest
51.2
51.7
140
-0.8%
Debt
8,032
8,467
9,250
-5.1%
Other liabilities
919
659
444
+39.3%
Total liabilities and equity
17,506
17,393
18,063
+0.7%
Fixed assets
10.0
9.8
11.8
+1.7%
Goodwill
258
258
258
0.0%
Securities held for sale or to maturity
245
317
367
-22.6%
Cash and equivalents
213
92.3
145
+131.3%
Other assets
16,779
16,716
17,282
+0.4%
Total assets
17,506
17,393
18,063
+0.7%
10-K for the year ended 31 December 2020, filed 22 February 2022: the filing.