Saturday 17 October 2026 Export IRT’s income statement to Excel — free account

Independence Realty Trust, Inc.

Independence Realty Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $657.7 million, up 2.76% from fiscal 2024. In the quarter to June 2026, revenue grew 3.12%, EPS fell 51.7%, free cash flow fell 14.4% and total debt rose 8.60%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

14.77 0.07 +0.48%

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Market cap: $3.6B
P/E: 80.1×
Fwd P/E: 120×
Dividend yield: 4.74%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.09

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	1	—	1	1	1	1	1	1	1	1	1

Insider Ownership 0.54%

Capital & Financial Ratios $m

Market Cap 3,550.00

Revenue 666.83

Net Income 44.30

Free Cash Flow 45.09

Net Debt 2,326.72

Current Ratio 1.06

Debt/Equity 0.70

P/E ratio 80.05

Fwd P/E 120.00

P/S ratio 5.21

P/B ratio 1.00

Past 5Y EPS Growth 8.45%

This Y EPS Growth (41.96%)

Next Y EPS Growth 33.11%

Next Y revenue growth 2.66%

Next 5Y EPS Growth (12.16%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 69.59%

10-year low 10-year high

P/S against its own 10 years 39.51%

10-year low 10-year high

P/B against its own 10 years 19.94%

10-year low 10-year high

EV/Sales against its own 10 years 11.13%

10-year low 10-year high

EV/FCF against its own 10 years 70.16%

10-year low 10-year high

Dividends

Payout Ratio 3.79

Annual Dividend Rate 0.70

Annual Dividend Yield 4.74%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.71	0.17 0.18 0.18
2025	0.67	0.16 0.17 0.17 0.17
2024	0.64	0.16 0.16 0.16 0.16
2023	0.62	0.14 0.16 0.16 0.16
2022	0.54	0.12 0.14 0.14 0.14
2021	0.58	0.12 0.12 0.12 0.10 0.10 0.02
2020	0.54	0.18 0.12 0.12 0.12
2019	0.72	0.18 0.18 0.18 0.18
2018	0.72	0.18 0.18 0.18 0.18
2017	0.72	0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06
2016	0.72	0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	140	135	146	117
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	140	135	146	117

	2023	2024	2025	Q'26
Payables	109	95	92	102
ST’ Debt	123	59	—	—
Other	—	—	—	—
	240	162	101	110

Compound Annual Growth %

	10y	5y	3y
Sales	19.63%	25.42%	1.52%
Cash Flow	31.16%	30.36%	4.18%
Earnings	7.19%	30.81%	(21.57%)
Book Value	24.85%	38.17%	(1.34%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	165	167	—	—	—
’25	161	162	167	167	658
’24	161	158	160	161	640
’23	161	164	169	167	661
’22	150	155	161	163	629
’21	55	57	61	77	250
’20	51	52	54	54	212

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	55	81	—	—	—
’25	60	82	79	60	282
’24	44	83	69	63	260
’23	47	80	76	59	262
’22	41	71	80	58	250
’21	21	23	30	(21)	52
’20	12	23	26	14	75

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	0	38	—	—	—
’25	82	45	(66)	73	133
’24	298	67	7	(135)	237
’23	41	24	13	202	280
’22	176	15	(142)	106	156
’21	13	(127)	55	105	47
’20	(47)	14	15	(32)	(50)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.00	0.01	—	—	—
’25	0.04	0.03	0.03	0.14	0.24
’24	0.08	0.05	0.05	0.00	0.17
’23	0.04	0.05	0.02	(0.18)	(0.08)
’22	0.34	(0.03)	0.07	0.15	0.53
’21	0.01	0.03	0.11	0.23	0.41
’20	0.00	0.01	0.01	0.14	0.16

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	5.97	8.57	8.26	8.92	6.86	13.01	15.04	11.61	14.08	15.07	Analyst estimates 2026–2028 Powerpack
	High	10.70	10.63	10.59	15.89	16.85	25.98	28.42	19.68	22.26	21.87
People
People	Employees	395	421	455	444	444	485	923	952	917	904
	Revenue/emp, $m	0.39	0.38	0.42	0.46	0.48	0.52	0.68	0.69	0.70	0.73
Income, $m
Income, $m	Revenue	153	161	191	203	212	250	629	661	640	658
	Gross margin, %	55.67	56.13	56.43	57.05	56.83	58.93	59.22	58.94	58.52	59.06
	EBT	(10)	31	27	46	15	46	121	(18)	40	58
	EBT margin, %	(6.23)	19.50	13.92	22.81	7.02	18.19	19.20	(2.69)	6.25	8.77
	Net income	(10)	31	27	46	15	46	121	(18)	40	58
	Depreciation	38	36	47	54	62	79	257	222	224	247
Per share, $
Per share, $	Revenue	2.94	2.20	2.20	2.26	2.26	2.31	2.83	2.95	2.85	2.81
	Earnings	(0.19)	0.43	0.29	0.51	0.16	0.41	0.53	(0.08)	0.17	0.24
	Cash flow	(0.14)	0.74	0.79	0.84	0.80	0.48	1.12	1.17	1.16	1.21
	Capex	0.54	(2.61)	(2.63)	(1.18)	(1.33)	(0.05)	(0.42)	0.08	(0.10)	(0.64)
	Free cash flow	0.39	(1.87)	(1.85)	(0.35)	(0.53)	0.44	0.70	1.25	1.05	0.57
	Book value	10.13	8.81	7.23	6.90	7.61	33.55	16.84	15.90	15.90	15.34
	Shares, m	52	73	87	90	94	109	222	224	225	234
Valuation, ×
Valuation, ×	P/E	224.75	23.89	31.66	28.16	86.15	67.97	31.38	0.00	113.37	72.83
	P/S	3.06	4.63	4.18	6.22	5.94	11.20	5.87	5.27	6.97	6.22
	P/B	0.89	1.16	1.27	2.04	1.76	0.77	0.99	0.98	1.25	1.14
	EV/Sales	7.74	9.37	9.25	11.04	14.80	32.46	9.88	8.91	10.40	9.55
	EV/FCF	57.90	(10.99)	(10.99)	(71.46)	(63.24)	171.92	39.91	21.03	28.09	47.08
Cash, $m
Cash, $m	Operating cash flow	(8)	54	69	75	75	52	250	262	260	282
	Capex	28	(192)	(229)	(106)	(125)	(5)	(94)	18	(23)	(149)
	Free cash flow	20	(137)	(161)	(31)	(50)	47	156	280	237	133
Balance, $m
Balance, $m	Working capital	17	5	(7)	(13)	(14)	(23)	7	(100)	(27)	45
	Total debt	747	781	990	994	1,891	5,411	5,263	2,549	2,334	2,281
	Net debt	720	767	974	979	1,878	5,320	5,139	2,410	2,198	2,136
	Shareholders’ equity	529	646	630	620	713	3,642	3,738	3,567	3,575	3,589
Returns, %
Returns, %	ROA	(0.73)	2.20	1.69	2.76	0.87	1.08	1.80	(0.27)	0.64	0.94
	ROIC	1.98	2.01	2.02	1.97	1.06	0.36	0.72	1.54	1.36	1.31
	ROE	(2.13)	5.14	4.12	7.34	2.22	2.05	3.18	(0.47)	1.10	1.58

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SUI Sun Communities, Inc.	$14.1B	— (loss-making)	54.0×	+8.02% (above 0%: growing)	n/m	−12.76% (below 0%: shrinking)	55.40%	12.25%	Compare
MAA Mid-America Apartment Communities, Inc.	$13.8B	34.1×	40.5×	+0.95% (above 0%: growing)	+13.04% (above 0%: growing)	−3.86% (below 0%: shrinking)	57.37%	25.36%	Compare
CPT Camden Property Trust	$13.3B	32.7×	102×	−0.90% (below 0%: shrinking)	−75.68% (below 0%: shrinking)	−1,195.62% (below 0%: shrinking)	64.13%	12.20%	Compare
ELS Equity Lifestyle Properties, Inc.	$12.1B	29.4×	30.8×	+5.56% (above 0%: growing)	+19.05% (above 0%: growing)	+14.74% (above 0%: growing)	51.52%	32.00%	Compare
AMH American Homes 4 Rent	$11.1B	24.8×	44.5×	+2.75% (above 0%: growing)	+10.71% (above 0%: growing)	+24.76% (above 0%: growing)	58.35%	25.92%	Compare
IRT Independence Realty Trust, Inc.	$3.6B	80.1×	120×	+3.12% (above 0%: growing)	−51.67% (below 0%: shrinking)	−14.38% (below 0%: shrinking)	57.36%	15.51%
MRP Millrose Properties, Inc.	$3.4B	7.8×	9.3×	+32.11% (above 0%: growing)	+11.76% (above 0%: growing)	+61.32% (above 0%: growing)	84.81%	85.16%	Compare
UMH UMH Properties, Inc.	$1.3B	127×	111×	+7.50% (above 0%: growing)	+66.67% (above 0%: growing)	−8.46% (below 0%: shrinking)	55.24%	18.78%	Compare
CSR Centerspace	$989.4M	43.4×	— (loss-making)	−4.04% (below 0%: shrinking)	n/m	+133.15% (above 0%: growing)	86.14%	13.35%	Compare
Median of peers	$11.6B	32.7×	44.5×	+4.16%	+12.40%	+5.44%	57.86%	22.07%

All 19 Reit Residential stocks →

Independence Realty Trust, Inc. (IRT) key facts

Strength: Independence Realty Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $657.7 million, up 2.76% from fiscal 2024.
Independence Realty Trust, Inc. (IRT) is a Reit Residential company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, IRT traded at $14.77, a market capitalization of $3.6 billion.
Independence Realty Trust, Inc. pays an annual dividend of $0.70 per share, a yield of 4.74%.
Return on equity was 1.58% and debt-to-equity 0.70.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.