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Invitation Homes (Invitation Homes) EBIT : $888 Mil (TTM As of Mar. 2024)


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What is Invitation Homes EBIT?

Invitation Homes's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $233 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $888 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Invitation Homes's annualized ROC % for the quarter that ended in Mar. 2024 was 4.06%. Invitation Homes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 331.86%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Invitation Homes's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 3.01%.


Invitation Homes EBIT Historical Data

The historical data trend for Invitation Homes's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Invitation Homes EBIT Chart

Invitation Homes Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 514.28 551.37 585.44 688.89 854.49

Invitation Homes Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 198.63 216.91 218.96 219.99 232.63

Competitive Comparison of Invitation Homes's EBIT

For the REIT - Residential subindustry, Invitation Homes's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Invitation Homes's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Invitation Homes's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Invitation Homes's EV-to-EBIT falls into.



Invitation Homes EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $888 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Invitation Homes  (NYSE:INVH) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Invitation Homes's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=742.576 * ( 1 - 0% )/( (18319.759 + 18231.275)/ 2 )
=742.576/18275.517
=4.06 %

where

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=19220.967 - 200.59 - ( 700.618 - max(0, 200.59 - 1144.418+700.618))
=18319.759

Invested Capital(Q: Mar. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=19209.938 - 240.538 - ( 738.125 - max(0, 240.538 - 1206.043+738.125))
=18231.275

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Invitation Homes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=930.524/( ( (45.006 + max(243.21, 0)) + (45.194 + max(227.38, 0)) )/ 2 )
=930.524/( ( 288.216 + 272.574 )/ 2 )
=930.524/280.395
=331.86 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(60.81 + 0 + 382.99) - (200.59 + 0 + 0)
=243.21

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(70.393 + 0 + 397.525) - (240.538 + 0 + 0)
=227.38

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Invitation Homes's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2024 )
=888.485/29520.646
=3.01 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Invitation Homes EBIT Related Terms

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Invitation Homes (Invitation Homes) Business Description

Traded in Other Exchanges
Address
1717 Main Street, Suite 2000, Dallas, TX, USA, 75201
Invitation Homes owns a portfolio of nearly 83,000 single-family rental homes. The company focuses on owning homes in the starter and move-up segments of the housing market with an average sale price around $300,000 and generally less than 1,800 square feet. The portfolio is spread across 16 target markets that feature high employment and household formation growth with over 70% of the portfolio in the Western U.S. and Florida; 15 of the 16 markets featuring average rents lower than homeownership costs.
Executives
Scott G. Eisen officer: EVP, Chief Investment Officer 1717 MAIN STREET, SUITE 2000, DALLAS TX 75201
Jonathan S. Olsen officer: EVP & CFO 1717 MAIN STREET, SUITE 2000, DALLAS TX 75201
Keith D Taylor director 301 VELOCITY WAY, 5TH FLOOR, FOSTER CITY CA 94404
Frances Aldrich Sevilla-sacasa director 3 GREENWAY PLAZA, SUITE 1300, HOUSTON TX 77046
Dallas B Tanner officer: See Remarks C/O INVITATION HOMES INC., 1717 MAIN STREET, SUITE 2000, DALLAS TX 75201
Janice L. Sears director 1100 PARK PLACE, SUITE 200, SAN MATEO CA 94403
Charles D. Young officer: Chief Operating Officer C/O STARWOOD WAYPOINT RESIDENTIAL TRUST, 1999 HARRISON STREET, 24TH FLOOR, OAKLAND CA 94612
Bryce Blair director
Ernest Michael Freedman officer: See Remarks 1717 MAIN STREET, SUITE 2000, DALLAS TX 75201
Kimberly K Norrell officer: See Remarks C/O INVITATION HOMES INC., 1717 MAIN STREET, SUITE 2000, DALLAS TX 75201
Roizen Jo Ann Heidi director
Joseph D Margolis director C/O ARSENAL REAL ESTATE FUNDS, 117 ON THE GREEN, 67 PARK PLACE EAST, MORRISTOWN NJ 07960
Brep Ih6 Holdings Llc 10 percent owner C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Ih3 Holdco Gp Llc 10 percent owner C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Brep Vii-nq Side-by-side Gp L.l.c. 10 percent owner C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154