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Invitation Homes INVH Business Segments — Fixed expenses

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Other financials

Income statement

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Revenue$734.1M+8.8%
Net income$160.5M-3.2%
EPS (diluted)$0.26-3.7%

Balance sheet

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Cash & equivalents$373.0M+17.1%
Total debt$9.8B+21.0%
Total equity$9.1B-6.5%
Total assets$18.7B+0.7%

Cash flow

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Operating cash flow$293.0M-2.5%
CapEx$6.3M-19.4%
Free cash flow$122.4M-2.1%

Valuation

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Market cap$18.12B-2.3%
Enterprise value$27.59B+4.2%
P/E31.1×-2.9×
P/S6.5×-0.4×

Profitability

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Operating margin15.5%
Net margin20.9%+2.9pp
FCF margin43.2%+3.0pp

Returns & leverage

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Return on equity6.2%+1.4pp
Debt / equity1.1×+0.2×

Where this comes from

Reported directly by Invitation Homes in its filing.

Tagged under the XBRL concept invh:DirectCostsOfLeasedAndRentedPropertyOrEquipmentFixedCosts.

The source filing: Invitation Homes’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 1:10 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001687229-26-000032
Line itemFor the Three Months Ended March 31, 2026For the Three Months Ended March 31, 2025
Fixed expenses(1)$136,443$130,721
Controllable expenses(2)114,691106,728
Total property operating and maintenance$251,134$237,449

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Invitation Homes's business segments — fixed expenses?
Invitation Homes (INVH) reported business segments — fixed expenses of $136.44M in Q1 2026.
How has Invitation Homes's business segments — fixed expenses changed year-over-year?
Invitation Homes's business segments — fixed expenses increased by 4.4% year-over-year, from $130.72M to $136.44M.
What is the long-term trend for Invitation Homes's business segments — fixed expenses?
Over 3 years (2022 to 2025), Invitation Homes's business segments — fixed expenses has grown at a 7.3% compound annual growth rate (CAGR), from $421.26M to $520.14M.
What does business segments — fixed expenses mean?
This metric represents the non-variable operating costs associated with maintaining the company's single-family rental portfolio. These expenses typically include property taxes, insurance, and other overhead costs that do not fluctuate significantly with occupancy levels or day-to-day maintenance activity. Monitoring these costs is essential for assessing the baseline operational burden of the real estate portfolio.

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