Independence Realty Trust, Inc. (IRT) Financial Ratios
16 years of historical data (2010–2025) · Real Estate · REIT - Residential
EV/EBITDA
↓
16.36
↓-28% vs avg
5yr avg: 22.84
30Y Low7.6·High42.7
P/FCF
↓
25.44
↓-72% vs avg
5yr avg: 90.48
30Y Low9.7·High52.8
P/B Ratio
↑
1.03
+1% vs avg
5yr avg: 1.03
30Y Low0.6·High2.1
ROE
↓
1.6%
↓+6% vs avg
5yr avg: 1.5%
30Y Low-2%·High9%
Debt/EBITDA
↓
6.26
↓-35% vs avg
5yr avg: 9.70
30Y Low4.8·High26.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IRT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Independence Realty Trust, Inc. trades at 65.9x earnings, 59% below its 5-year average of 162.0x, sitting at the 33rd percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 174%. On a free-cash-flow basis, the stock trades at 25.4x P/FCF, 72% below the 5-year average of 90.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $4.1B | $4.5B | $3.4B | $3.8B | $2.8B | $1.3B | $1.3B | $802M | $743M | $465M |
| Enterprise Value | $6.0B | $6.3B | $6.8B | $6.0B | $6.4B | $5.5B | $2.2B | $2.2B | $1.8B | $1.5B | $1.2B |
| P/E Ratio → | 65.92 | 72.83 | 116.71 | — | 112.40 | 346.25 | — | 190.79 | 30.60 | 24.61 | — |
| P/S Ratio | 5.67 | 6.24 | 6.99 | 5.19 | 5.99 | 11.34 | 6.00 | 6.26 | 4.19 | 4.61 | 3.03 |
| P/B Ratio | 1.03 | 1.14 | 1.25 | 0.96 | 1.01 | 0.78 | 1.78 | 2.05 | 1.27 | 1.15 | 0.88 |
| P/FCF | 25.44 | 28.01 | 52.85 | 29.72 | 36.24 | 305.57 | 33.86 | 43.34 | 28.54 | 18.59 | — |
| P/OCF | 13.21 | 14.54 | 17.23 | 13.10 | 15.08 | 54.29 | 16.96 | 16.97 | 11.70 | 13.67 | — |
P/E links to full P/E history page with 30-year chart
IRT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Independence Realty Trust, Inc.'s enterprise value stands at 16.4x EBITDA, 28% below its 5-year average of 22.8x. This is roughly in line with the Real Estate sector median of 17.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.64 | 10.61 | 9.02 | 10.15 | 22.00 | 10.58 | 11.07 | 9.30 | 9.37 | 7.75 |
| EV / EBITDA | 16.36 | 17.39 | 19.38 | 16.25 | 18.43 | 42.73 | 20.00 | 14.42 | 9.30 | 9.24 | 7.64 |
| EV / EBIT | 49.18 | 46.36 | 52.31 | 82.65 | 30.72 | 67.21 | 43.64 | 44.65 | 28.40 | 25.12 | 45.74 |
| EV / FCF | — | 43.25 | 80.15 | 51.58 | 61.44 | 593.10 | 59.68 | 76.55 | 63.28 | 37.82 | — |
IRT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Independence Realty Trust, Inc. earns an operating margin of 18.4%, below the Real Estate sector average of 24.8%. Operating margins have compressed from 22.4% to 18.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 1.6% is modest. ROIC of 1.6% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -14.9% | -14.9% | 58.5% | 58.9% | 59.2% | 58.9% | 56.8% | 57.0% | 56.4% | 56.1% | 55.7% |
| Operating Margin | 18.4% | 18.4% | 20.2% | 22.4% | 14.8% | 20.8% | — | 50.8% | 27.1% | 28.2% | 25.9% |
| Net Profit Margin | 8.6% | 8.6% | 6.1% | -2.6% | 18.7% | 17.8% | 7.0% | 22.6% | 13.7% | 18.7% | -6.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.6% | 1.6% | 1.1% | -0.5% | 3.2% | 2.0% | 2.2% | 7.3% | 4.1% | 5.1% | -2.1% |
| ROA | 0.9% | 0.9% | 0.6% | -0.3% | 1.8% | 1.1% | 0.9% | 2.8% | 1.7% | 2.2% | -0.7% |
| ROIC | 1.6% | 1.6% | 1.6% | 1.8% | 1.1% | 1.0% | — | 4.8% | 2.6% | 2.6% | 2.3% |
| ROCE | 2.4% | 2.4% | 2.5% | 2.7% | 1.7% | 1.5% | — | 6.8% | 3.4% | 3.4% | 3.0% |
IRT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Independence Realty Trust, Inc. carries a Debt/EBITDA ratio of 6.3x, which is highly leveraged (21% below the sector average of 7.9x). Net debt stands at $2.2B ($2.3B total debt minus $48M cash). Interest coverage of just 1.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.65 | 0.71 | 0.70 | 0.74 | 1.37 | 1.59 | 1.56 | 1.20 | 1.41 |
| Debt / EBITDA | 6.26 | 6.26 | 6.66 | 6.95 | 7.61 | 21.00 | 8.73 | 6.32 | 5.15 | 4.76 | 4.78 |
| Net Debt / Equity | — | 0.62 | 0.65 | 0.71 | 0.70 | 0.73 | 1.36 | 1.57 | 1.55 | 1.19 | 1.37 |
| Net Debt / EBITDA | 6.13 | 6.13 | 6.60 | 6.89 | 7.56 | 20.72 | 8.65 | 6.25 | 5.11 | 4.70 | 4.65 |
| Debt / FCF | — | 15.25 | 27.31 | 21.87 | 25.20 | 287.52 | 25.82 | 33.21 | 34.73 | 19.23 | — |
| Interest Coverage | 1.73 | 1.73 | 1.70 | 0.80 | 2.39 | 2.25 | 1.41 | 1.28 | 1.74 | 2.10 | 0.73 |
IRT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.05x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.35x to 0.05x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.05 | 0.05 | 0.16 | 0.35 | 0.08 | 0.12 | 0.34 | 0.06 | 2.57 | 0.98 | 4.91 |
| Quick Ratio | 0.05 | 0.05 | 0.16 | 0.35 | 0.08 | 0.12 | 0.34 | 0.06 | 2.57 | 1.30 | 5.12 |
| Cash Ratio | 0.05 | 0.05 | 0.02 | 0.02 | 0.02 | 0.03 | 0.22 | 0.04 | 0.23 | 0.44 | 1.11 |
| Asset Turnover | — | 0.11 | 0.11 | 0.11 | 0.10 | 0.04 | 0.12 | 0.12 | 0.12 | 0.11 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
IRT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Independence Realty Trust, Inc. returns 5.0% to shareholders annually — split between a 4.2% dividend yield and 0.8% buyback yield. The payout ratio exceeds 100% at 273.0%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 1.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 3.8% | 3.2% | 3.9% | 2.8% | 1.8% | 4.4% | 5.1% | 6.5% | 7.0% | 7.9% |
| Payout Ratio | 273.0% | 273.0% | 366.5% | — | 90.3% | 111.8% | 380.2% | 141.1% | 199.6% | 173.2% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.5% | 1.4% | 0.9% | — | 0.9% | 0.3% | — | 0.5% | 3.3% | 4.1% | — |
| FCF Yield | 3.9% | 3.6% | 1.9% | 3.4% | 2.8% | 0.3% | 3.0% | 2.3% | 3.5% | 5.4% | — |
| Buyback Yield | 0.8% | 0.7% | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% | 13.4% |
| Total Shareholder Yield | 5.0% | 4.5% | 3.3% | 4.1% | 3.0% | 1.9% | 4.5% | 5.1% | 6.6% | 7.1% | 21.2% |
| Shares Outstanding | — | $235M | $226M | $224M | $223M | $110M | $95M | $90M | $87M | $74M | $52M |
Peer Comparison
Compare IRT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IRTYou | $4B | 65.9 | 16.4 | 25.4 | -14.9% | 18.4% | 1.6% | 1.6% | 6.3 |
 NMR | $26B | 12.2 | 28.2 | — | 45.6% | 11.3% | 9.7% | 1.4% | 28.4 |
 MAA | $15B | 35.1 | 16.7 | 21.5 | 31.8% | 28.0% | 7.5% | 4.2% | 4.4 |
 CPT | $11B | 30.8 | 17.0 | 29.6 | 61.4% | 18.4% | 8.4% | 2.6% | 4.3 |
 UDR | $12B | 33.2 | 18.3 | 19.9 | 25.6% | 18.8% | 8.8% | 2.3% | 6.2 |
 AIV | $417M | 0.7 | 30.7 | — | -33.5% | -21.1% | 126.4% | -1.8% | 30.0 |
 NXRT | $684M | -21.4 | 18.0 | 8.2 | 84.3% | 11.1% | -8.9% | 1.1% | 12.6 |
 EQR | $24B | 22.0 | 15.3 | 18.6 | 46.3% | 36.3% | 9.7% | 4.2% | 4.1 |
 AVB | $25B | 24.0 | 18.5 | 17.4 | 67.0% | 30.1% | 8.9% | 3.3% | 5.1 |
 ESS | $18B | 26.3 | 17.0 | 16.4 | 68.8% | 43.9% | 11.7% | 5.0% | 4.8 |
 BRT | $280M | -22.6 | 20.4 | 42.2 | 0.2% | 11.4% | -6.3% | 1.3% | 13.6 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 16 years · Updated daily
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IRT — Frequently Asked Questions
Quick answers to the most common questions about buying IRT stock.
What is Independence Realty Trust, Inc.'s P/E ratio?
Independence Realty Trust, Inc.'s current P/E ratio is 65.9x. The historical average is 77.1x. This places it at the 33th percentile of its historical range.
What is Independence Realty Trust, Inc.'s EV/EBITDA?
Independence Realty Trust, Inc.'s current EV/EBITDA is 16.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.3x.
What is Independence Realty Trust, Inc.'s ROE?
Independence Realty Trust, Inc.'s return on equity (ROE) is 1.6%. The historical average is 2.3%.
Is IRT stock overvalued?
Based on historical data, Independence Realty Trust, Inc. is trading at a P/E of 65.9x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Independence Realty Trust, Inc.'s dividend yield?
Independence Realty Trust, Inc.'s current dividend yield is 4.16% with a payout ratio of 273.0%.
What are Independence Realty Trust, Inc.'s profit margins?
Independence Realty Trust, Inc. has -14.9% gross margin and 18.4% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Independence Realty Trust, Inc. have?
Independence Realty Trust, Inc.'s Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.