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Invitation Homes INVH Business Segments — Property operating and maintenance

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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$18.04B-2.7%
Enterprise value$27.51B+3.9%
P/E31×-3.1×
P/S6.5×-0.5×

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 us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment.

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 — property operating and maintenance?
Invitation Homes (INVH) reported business segments — property operating and maintenance of $251.13M in Q1 2026.
How has Invitation Homes's business segments — property operating and maintenance changed year-over-year?
Invitation Homes's business segments — property operating and maintenance increased by 5.8% year-over-year, from $237.45M to $251.13M.
What is the long-term trend for Invitation Homes's business segments — property operating and maintenance?
Over 3 years (2022 to 2025), Invitation Homes's business segments — property operating and maintenance has grown at a 7.8% compound annual growth rate (CAGR), from $786.35M to $985.59M.
What does business segments — property operating and maintenance mean?
This metric aggregates all direct costs incurred to operate, maintain, and preserve the physical condition of the rental properties. It encompasses both routine maintenance and the costs associated with preparing units for new tenants, reflecting the total investment required to keep the portfolio in a rentable state. It is a key measure of the total cost of ownership and the physical sustainability of the rental assets.

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