The debt-to-equity ratio increased to 0.96 in 2026Q1 from 0.84 in 2024Q4, indicating a more aggressive utilization of leverage to support the $17.1 billion net property base.
| Total Assets | 18.7B | 18.68B | 18.7B | 19.22B | 18.54B | 18.54B | 17.51B | 17.39B | 18.06B | 18.68B | 9.73B | 9.8B | 9.2B |
| Asset Growth % | -6.78% | -0.11% | -2.71% | 3.69% | -0.01% | 5.89% | 0.65% | -3.71% | -3.32% | 91.97% | -0.66% | 6.49% | - |
| Real Estate & Other Assets | 648.57M | 17.38B | 17.34B | 17.38B | 17.17B | 16.96B | 16.32B | 16.26B | 16.79B | 17.4B | 9.02B | 9.07B | 8.51B |
| PP&E (Net) | 17.11B | 102.56M | 71.53M | 45.01M | 41.02M | 33.57M | 31.7M | 23.59M | 11.79M | 16.59M | 6.25M | 6.98M | 9.52M |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 372.98M | 569.07M | 674.2M | 1.14B | 677.54M | 980.08M | 535.39M | 461.47M | 579.16M | 538.37M | 500.02M | 531.05M | 603.84M |
| Cash & Equivalents | 114.13M | 129.97M | 174.49M | 700.62M | 262.87M | 610.17M | 213.42M | 92.26M | 144.94M | 179.88M | 198.12M | 274.82M | 285.6M |
| Receivables | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 258.85M | 283.46M | 294.64M | 243.07M | 220.9M | 228.71M | 242.51M | 310.52M | 369.13M | 283.5M | 267.15M | 219.17M | 276.12M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37.52M | 0 | 0 | 829K |
| Total Liabilities | 9.57B | 9.11B | 8.91B | 9.03B | 8.21B | 8.7B | 8.95B | 9.13B | 9.69B | 10.03B | 7.77B | 7.91B | 6.74B |
| Total Debt | 8.8B | 8.38B | 8.2B | 8.55B | 7.77B | 8B | 8.03B | 10.63B | 12.46B | 9.65B | 7.57B | 7.73B | 6.56B |
| Net Debt | 8.69B | 8.25B | 8.03B | 7.85B | 7.51B | 7.39B | 7.82B | 10.54B | 12.31B | 9.47B | 7.37B | 7.45B | 6.28B |
| Long-Term Debt | 8.24B | 8.24B | 7.63B | 8.55B | 7.77B | 8B | 8.03B | 8.47B | 9.25B | 9.62B | 5.25B | 5.38B | 3.17B |
| Short-Term Borrowings | 560M | 145M | 570M | 0 | 0 | 0 | 0 | 2.16B | 3.21B | 35M | 2.32B | 2.35B | 3.39B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 1B | 375.35M | 817.71M | 200.59M | 198.42M | 193.63M | 149.3M | 186.11M | 169.6M | 228.41M | 2.4B | 2.43B | 3.48B |
| Accounts Payable | 257.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 187.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 325.59M | 502.03M | 458.43M | 283.89M | 245.58M | 506.75M | 769.35M | 473.24M | 274.82M | 188.69M | 116.6M | 101.17M | 86.38M |
| Total Equity | 9.13B | 9.57B | 9.79B | 10.19B | 10.32B | 9.84B | 8.56B | 8.27B | 8.37B | 8.65B | 1.96B | 1.89B | 2.46B |
| Equity Growth % | -15.21% | -2.29% | -3.9% | -1.29% | 4.93% | 14.99% | 3.51% | -1.23% | -3.25% | 341.9% | 3.73% | -23.19% | - |
| Shareholders Equity | 9.09B | 9.53B | 9.76B | 10.16B | 10.29B | 9.8B | 8.5B | 8.21B | 8.23B | 8.5B | 1.96B | 1.89B | 2.46B |
| Minority Interest | 37.63M | 37.76M | 35.74M | 34.46M | 32.29M | 41.06M | 51.25M | 51.66M | 140.07M | 151.79M | 0 | 0 | 0 |
| Common Stock | 5.94M | 6.11M | 6.13M | 6.12M | 6.11M | 6.01M | 5.67M | 5.42M | 5.21M | 5.19M | 1.96B | 1.89B | 2.46B |
| Additional Paid-in Capital | 10.7B | 11.13B | 11.17B | 11.16B | 11.14B | 10.87B | 9.71B | 9.01B | 8.63B | 8.6B | 0 | 0 | 0 |
| Retained Earnings | -1.63B | -1.61B | -1.48B | -1.07B | -951.22M | -794.87M | -661.16M | -524.59M | -392.59M | -157.59M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 3.11% | 3.15% | 2.39% | 2.75% | 2.07% | 1.45% | 1.12% | 0.82% | -0.03% | -0.74% | -0.8% | -1.69% | -2.93% |
| Return on Equity (ROE) | 6.12% | 6.07% | 4.54% | 5.06% | 3.8% | 2.84% | 2.33% | 1.75% | -0.06% | -1.99% | -4.07% | -7.38% | -10.99% |
| Debt / Assets | 47.07% | 44.86% | 43.86% | 44.46% | 41.91% | 43.15% | 45.88% | 61.12% | 68.95% | 51.66% | 77.78% | 78.86% | 71.36% |
| Debt / Equity | 0.96x | 0.88x | 0.84x | 0.84x | 0.75x | 0.81x | 0.94x | 1.29x | 1.49x | 1.12x | 3.87x | 4.09x | 2.67x |
| Net Debt / EBITDA | 5.34x | 5.54x | 5.52x | 5.71x | 5.82x | 6.46x | 7.66x | 10.99x | 13.63x | 22.14x | 16.08x | 20.44x | 34.13x |
| Book Value per Share | 15.06 | 15.60 | 15.96 | 16.62 | 16.89 | 16.99 | 15.40 | 15.52 | 16.08 | 25.48 | 6.48 | 6.25 | 8.13 |
Regulatory and Legislative Headwinds
As reported in recent financial statements, Invitation Homes has maintained a consistent total asset base of approximately $18.7 billion through 2026Q1, suggesting that the company is successfully balancing its acquisition-led growth strategy with disciplined capital recycling to maintain a stable footprint in high-barrier markets.
The stability in total assets despite ongoing market volatility indicates a mature approach to portfolio management. Investors should monitor whether the company continues to prioritize infill acquisitions over aggressive expansion, as this strategy appears to support long-term asset quality.
Based on reported figures, the company's debt-to-equity ratio reached 0.96 in 2026Q1, reflecting a moderate increase from the 0.84 level observed in 2024Q4, which may indicate a strategic utilization of leverage to fund ongoing property-level improvements and operational scaling.
While the leverage ratio remains within a manageable range for a residential REIT, the upward trend warrants close observation to ensure that interest coverage remains robust. The reliance on property-level financing appears to provide a structural buffer against corporate-level credit shocks.
According to quarterly filings, the company's cash reserves fluctuated significantly, dropping from $1.0 billion in 2024Q3 to $114.1 million by 2026Q1, which suggests a shift toward deploying excess capital into the portfolio rather than maintaining high levels of idle cash on the balance sheet.
This reduction in cash balances implies that management is actively deploying capital to optimize the existing portfolio or reduce higher-cost debt. Analysts should evaluate whether this lower liquidity profile impacts the company's flexibility to respond to sudden market shifts or unexpected capital expenditure requirements.
Analysis of the balance sheet reveals that net property, plant, and equipment reached $17.1 billion in 2026Q1, a substantial increase from previous periods, which may indicate significant capitalization of maintenance costs that could mask underlying operational wear and tear on the aging portfolio.
This accounting treatment suggests that the true economic depreciation of the assets might be higher than what is reflected in the net book value. Investors should consider whether this capitalization strategy effectively defers necessary maintenance expenses, potentially creating future margin pressure.
Quick answers to the most common questions about buying INVH stock.
As of 2025, Invitation Homes Inc. (INVH) had total assets of $18.68B including $569.1M in current assets.
Invitation Homes Inc. (INVH) carries total debt of $8.38B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Invitation Homes Inc. (INVH) has total shareholders' equity (book value) of $9.53B ($15.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Invitation Homes Inc. (INVH) reported a current ratio of 1.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.