Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $1.76B | $1.82B | $2.00B | $2.24B | $2.43B | $2.62B | $2.73B |
| Revenue growth | — | — | — | — | 3.3% | 9.5% | 12.1% | 8.7% | 7.7% | 4.2% |
| Operating income | $191M | $118M | — | — | — | — | — | — | — | — |
| Net income | -$78.2M | -$105M | -$4.93M | $145M | $196M | $261M | $383M | $519M | $454M | $588M |
| Net margin | — | — | — | 8.2% | 10.8% | 13.1% | 17.1% | 21.4% | 17.3% | 21.5% |
| EPS (diluted) | — | -$0.26 | -$0.01 | $0.27 | $0.35 | $0.45 | $0.63 | $0.85 | $0.74 | $0.96 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $250M | $263M | $561M | $662M | $697M | $908M | $1.02B | $1.11B | $1.08B | $1.21B |
| Capital expenditures | $3.86M | $4.09M | — | — | — | — | — | — | — | — |
| Free cash flow | $246M | $259M | — | — | — | — | — | — | — | — |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $53.2M |
| Dividends paid | $0.00 | $69.0M | $230M | $277M | $332M | $394M | $539M | $638M | $689M | $713M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $198M | $180M | $145M | $92.3M | $213M | $610M | $263M | $701M | $174M | $130M |
| Total assets | $9.73B | $18.7B | $18.1B | $17.4B | $17.5B | $18.5B | $18.5B | $19.2B | $18.7B | $18.7B |
| Total liabilities | $7.77B | $10.0B | $9.69B | $9.13B | $8.95B | $8.70B | $8.21B | $9.03B | $8.91B | $9.11B |
| Long-term debt | — | $9.65B | $9.25B | $8.47B | $8.03B | $8.00B | $7.77B | $8.55B | $8.20B | $8.38B |
| Shareholders' equity | $1.96B | $8.50B | $8.23B | $8.21B | $8.50B | $9.80B | $10.3B | $10.2B | $9.76B | $9.53B |
| Retained earnings | — | -$158M | -$393M | -$525M | -$661M | -$795M | -$951M | -$1.07B | -$1.48B | -$1.61B |
| Shares (wtd avg diluted) | — | 339M | 520M | 532M | 555M | 579M | 611M | 613M | 614M | 613M |
Every figure is extracted from Invitation Homes Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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