ESS vs INVH vs VMRK: Essex Property Trust, Invitation Homes and VIVMARK RESIDENTIAL compared
VIVMARK RESIDENTIAL is the largest, worth $24.6B (Essex Property Trust $17.5B, Invitation Homes $15.8B).
Essex Property Trust (ESS)REIT - Residential
$272.18$17.5B market cap
Invitation Homes (INVH)REIT - Residential
$27.10$15.8B market cap
VIVMARK RESIDENTIAL (VMRK)REIT - Residential
$65.51$24.6B market cap
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- VIVMARK RESIDENTIAL is the largest, worth $24.6B (Essex Property Trust $17.5B, Invitation Homes $15.8B).
- Invitation Homes grew revenue fastest over the last year (ESS +4.7%, INVH +7.2%, VMRK +2.8%).
- Essex Property Trust has the highest operating margin (ESS 32.5%, INVH 11.5%, VMRK 28.2%).
- On earnings, Invitation Homes is the cheapest (ESS 42.4x, INVH 23.8x, VMRK 28.4x).
Side by side
The strongest figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ESS | INVH | VMRK |
|---|---|---|---|
| Market cap | $17.5B | $15.8B | $24.6B |
| Share price | $272.18 | $27.10 | $65.51 |
| Revenue (last fiscal year) | $1.9B | $2.7B | $3.1B |
| Free cash flow (last fiscal year) | $934M | $1.2B | $1.3B |
| Revenue growth, last year | +4.7% | +7.2% | +2.8% |
| Revenue growth per year, last 5 fiscal years | +7.0% | +8.1% | +5.9% |
| Operating margin | 32.5% | 11.5% | 28.2% |
| Net margin | 21.5% | 23.6% | 28.0% |
| Return on equity | 7.8% | 7.7% | 8.3% |
| P/E (trailing) | 42.4x | 23.8x | 28.4x |
| Price / free cash flow | 17.7x | 15.7x | 20.3x |
| EV / EBITDA | — | — | 14.6x |
| FCF growth the price implies | 4.1% | -0.28% | 4.2% |
| Dividend yield | 3.8% | 4.4% | — |
| Debt / equity | — | 0.99x | 0.79x |
| Fundamental grade | C | C | C |
| Superinvestors holding it | 11 | 21 | 0 |
| Insider purchases, last 12 months | 0 | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Essex Property Trust
| Year | Revenue | FCF |
|---|---|---|
| 2021 | $1.4B | $784M |
| 2022 | $1.6B | $812M |
| 2023 | $1.7B | $840M |
| 2024 | $1.8B | $932M |
| 2025 | $1.9B | $934M |
Invitation Homes
| Year | Revenue | FCF |
|---|---|---|
| 2021 | $2.0B | $830M |
| 2022 | $2.2B | $901M |
| 2023 | $2.4B | $1.1B |
| 2024 | $2.6B | $1.1B |
| 2025 | $2.7B | $1.2B |
VIVMARK RESIDENTIAL
| Year | Revenue | FCF |
|---|---|---|
| 2021 | $2.5B | $1.1B |
| 2022 | $3.1B | $1.2B |
| 2023 | $2.9B | $1.2B |
| 2024 | $3.0B | $1.3B |
| 2025 | $3.1B | $1.3B |
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ESS in InvestinglyQuestions
Which is biggest, Essex Property Trust, Invitation Homes or VIVMARK RESIDENTIAL?
VIVMARK RESIDENTIAL (VMRK), at $24.6B.
Which is cheapest, ESS, INVH or VMRK?
By trailing P/E, Invitation Homes (23.8x). A lower multiple can also mean the market expects less growth.
Which grows fastest, ESS, INVH or VMRK?
Invitation Homes: revenue grew +7.2% over the last year.
Two at a time
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.