American Homes 4 Rent (AMH) vs Invitation Home (INVH)

American Homes 4 Rent and Invitation Home are both Reit Residential companies. Invitation Home is the larger, with a market value of $15.7B against $11.0B — 1.4× the size. American Homes 4 Rent trades at the lower P/E: 24.3× against 24.4×. Invitation Home grew revenue faster over the last twelve months: 6.72% against 4.29%. American Homes 4 Rent has the higher net margin (24.8% vs 23.1%) and the lower return on invested capital (2.37% vs 3.41%). Both pay a dividend; Invitation Home yields more (3.19% vs 2.51%). Across the 23 metrics below, Invitation Home leads on 12 and American Homes 4 Rent on 11.

Valuation

Metric AMH INVH Reit Residential median
P/E 24.32 24.42 28.48
P/S 5.89 5.52 5.52
P/B 1.48 1.73 1.89
Price to free cash flow 7.39 9.78 18.04
EV/EBITDA 16.15 13.15 15.74
EV/Sales 8.49 7.01 8.08
Earnings yield 4.11% 4.09% 2.37%
Free cash flow yield 13.53% 10.23% 4.03%

Profitability

Metric AMH INVH Reit Residential median
Gross margin 57.33% 56.37% 58.73%
Operating margin 24.99% 25.48% 20.57%
Net margin 24.79% 23.07% 20.81%
Free cash flow margin 79.69% 56.48% 20.24%
Return on equity 6.07% 7.01% 6.86%
Return on assets 3.48% 3.55% 3.17%
Return on invested capital 2.37% 3.41% 2.03%

Growth

Metric AMH INVH Reit Residential median
Revenue growth (TTM) 4.29% 6.72% 2.66%
EPS growth (last fiscal year) 9.26% 29.73% —
Revenue growth, 5-year CAGR 9.55% 8.41% 7.53%
Net income growth, 5-year CAGR 38.79% 24.56% 3.76%

Health

Metric AMH INVH Reit Residential median
Debt to equity 0.69 0.47 0.78
Current ratio 0.59 0.02 0.54
Net debt to EBITDA 5.04 2.67 4.27

Dividend

Metric AMH INVH Reit Residential median
Dividend yield 2.51% 3.19% 4.63%
Payout ratio 0.82 1.33 1.35

Size

Metric AMH INVH Reit Residential median
Market cap 11.04b 15.65b 4.17b

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