Invitation Homes (INVH) FY2023 results: revenue $2.4 billion, up 8.7% on the year
Invitation Homes Inc. (INVH) reported revenue of $2.4 billion for fiscal 2023, the year ended 31 December 2023, up 8.7% on the year before. Net income was $519 million, up 35.5%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$2.4 billion
+8.7% on the year
FY2016FY2023
Operating margin
14.7%
14.2% a year earlier
FY2016FY2023
Net income
$519 million
+35.5% on the year
FY2016FY2023
Diluted EPS
$0.85
+34.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,107
1,024
908
+8.2%
Capital expenditure
30.2
122
77.4
-75.3%
Free cash flow
1,077
901
830
+19.5%
Free cash flow margin
44.3%
40.3%
41.6%
Cash from investing
-774
-814
-1,160
Cash from financing
110
-574
659
Share-based compensation
29.5
29.0
27.2
+1.9%
Buybacks
0.0
n/a
n/a
Dividends paid
638
539
394
+18.4%
Dividend per share
$1.04
$0.88
$0.68
+18.2%
Diluted shares, weighted
613m
611m
579m
+0.4%
Shares outstanding at period end
612m
611m
601m
+0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,156
10,291
9,798
-1.3%
Non-controlling interest
34.5
32.3
41.1
+6.7%
Debt
8,546
7,769
7,999
+10.0%
Other liabilities
484
444
700
+9.1%
Total liabilities and equity
19,221
18,537
18,538
+3.7%
Fixed assets
31.5
24.5
16.6
+28.5%
Goodwill
258
258
258
0.0%
Securities held for sale or to maturity
86.5
87.0
157
-0.6%
Cash and equivalents
701
263
610
+166.5%
Other assets
18,144
17,904
17,496
+1.3%
Total assets
19,221
18,537
18,538
+3.7%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.