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Invitation Homes (INVH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Invitation Homes (INVH) Q3 2026 earnings results →
Q3 2026 Revenue up 6% year over year to $731M · 22¢ of every $1 of revenue kept as net profit · operating margin 9.2%
Invitation Homes made $731M in Q3 2026 (+6% Y/Y). Operating margin 9.2%, net earnings $158M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $731.3M in Q3 2026, up 6% year over year and down 2% from the previous quarter.
Operating profit was $67.1M, a 9.2% margin (down 4.0 points year over year). Operating profit fell $23.8M even though revenue rose $43.1M versus Q3 2025, so costs grew faster than sales. Total costs grew 11% against revenue growth of 6%. The fastest-growing cost line was General & admin (+86%). Net earnings were $158.5M, up 16% year over year. The effective tax rate was 0.0%. Non-operating items added $92.0M, 58% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $383.9M (down 3% year over year), 241% of net earnings. Non-cash charges added back $199.9M of depreciation and amortization and $11.5M of share-based compensation.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $731M | +6% | 9.2% | $158M | $384M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $748M | +10% | 12.0% | $219M | $384M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $734M | +9% | 10.8% | $161M | $293M |
| Q4 2025 | 10-K | Feb 19, 2026 | $685M | +4% | 14.0% | $145M | $129M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $688M | +4% | 13.2% | $137M | $395M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $681M | +4% | 14.9% | $141M | $382M |
| Q1 2025 | 10-Q | May 1, 2025 | $674M | +4% | 14.6% | $166M | $301M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Invitation Homes
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes in sought-after neighborhoods across the United States. As of December 31, 2025, we wholly own 86,192 homes for lease, jointly own 8,006 homes for lease, and provide professional third-party property and asset management services for an additional 15,866 homes, all of which are primarily located in 16 core markets across the country. These homes help meet the needs of a growing share of Americans who count on the ease, flexibility, and savings of leasing. We provide our residents access to updated homes with features they value, as well as close proximity to jobs and good schools. The continued demand for our product proves that the choice and flexibility we offer are attractive to many people.
In its own words, from its 10-K, filed Feb 19, 2026.
Invitation Homes against its Real Estate Operators (No Developers) & Lessors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +6%. Operating margin: 9.2% against the peers' median 9.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| INVH Invitation Homes | Q3 2026 | $731M | +6% | 9.2% |
| BOC Boston Omaha | Q2 2026 | $22.2M | +2% | -2.7% |
| ARL American Realty Investors | Q2 2026 | $12.9M | +6% | -19.8% |
| HBUV Hubilu Venture | Q2 2026 | $505K | -12% | 17.3% |
Source: Invitation Homes 10-Q on SEC EDGAR · CIK 1687229 · Real Estate Operators (No Developers) & Lessors
13F: who owns INVH and who is buying
More on INVH
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results