INVH vs VMRK: Invitation Homes and VIVMARK RESIDENTIAL compared
VIVMARK RESIDENTIAL is the larger company, worth $24.6B, about 1.6 times Invitation Homes.
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 larger company, worth $24.6B, about 1.6 times Invitation Homes.
- Invitation Homes grew revenue faster over the last year (+7.2% vs +2.8%).
- VIVMARK RESIDENTIAL keeps more of each dollar of revenue as operating profit (28.2% vs 11.5%).
- On earnings, Invitation Homes is the cheaper stock (23.8x vs 28.4x).
- VIVMARK RESIDENTIAL's price assumes faster free cash flow growth: about 4% a year, against -0% for Invitation Homes (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | INVH | VMRK |
|---|---|---|
| Market cap | $15.8B | $24.6B |
| Share price | $27.10 | $65.51 |
| Revenue (last fiscal year) | $2.7B | $3.1B |
| Free cash flow (last fiscal year) | $1.2B | $1.3B |
| Revenue growth, last year | +7.2% | +2.8% |
| Revenue growth per year, last 5 fiscal years | +8.1% | +5.9% |
| Operating margin | 11.5% | 28.2% |
| Net margin | 23.6% | 28.0% |
| Return on equity | 7.7% | 8.3% |
| P/E (trailing) | 23.8x | 28.4x |
| Price / free cash flow | 15.7x | 20.3x |
| EV / EBITDA | — | 14.6x |
| FCF growth the price implies | -0.28% | 4.2% |
| Dividend yield | 4.4% | — |
| Debt / equity | 0.99x | 0.79x |
| Fundamental grade | C | C |
| Superinvestors holding it | 21 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Invitation Homes
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.0B | $830M | 11.0% |
| 2022 | $2.2B | $901M | 14.2% |
| 2023 | $2.4B | $1.1B | 14.7% |
| 2024 | $2.6B | $1.1B | 11.2% |
| 2025 | $2.7B | $1.2B | 14.2% |
VIVMARK RESIDENTIAL
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.5B | $1.1B | 68.0% |
| 2022 | $3.1B | $1.2B | 36.1% |
| 2023 | $2.9B | $1.2B | 40.4% |
| 2024 | $3.0B | $1.3B | 29.3% |
| 2025 | $3.1B | $1.3B | 28.1% |
Questions
Which is bigger, Invitation Homes or VIVMARK RESIDENTIAL?
VIVMARK RESIDENTIAL (VMRK), at $24.6B against $15.8B.
Is INVH or VMRK cheaper?
By trailing P/E, Invitation Homes (23.8x) is cheaper than VIVMARK RESIDENTIAL (28.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, INVH or VMRK?
Invitation Homes: revenue grew +7.2% over the last year, against +2.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.