Invitation Home (INVH) vs Mid-America Apartment Communities, Inc. (MAA)

Invitation Home and Mid-America Apartment Communities, Inc. are both Reit Residential companies. Invitation Home is the larger, with a market value of $15.7B against $14.0B — 1.1× the size. Invitation Home trades at the lower P/E: 24.4× against 34.6×. Invitation Home grew revenue faster over the last twelve months: 6.72% against 0.85%. Invitation Home has the higher net margin (23.1% vs 18.0%) and the higher return on invested capital (3.41% vs 3.33%). Both pay a dividend; Mid-America Apartment Communities, Inc. yields more (4.67% vs 3.19%). Across the 23 metrics below, Invitation Home leads on 19 and Mid-America Apartment Communities, Inc. on 4.

Valuation

Metric INVH MAA Reit Residential median
P/E 24.42 34.61 28.48
P/S 5.52 6.19 5.52
P/B 1.73 2.46 1.89
Price to free cash flow 9.78 24.80 18.04
EV/EBITDA 13.15 15.56 15.74
EV/Sales 7.01 8.73 8.08
Earnings yield 4.09% 2.89% 2.37%
Free cash flow yield 10.23% 4.03% 4.03%

Profitability

Metric INVH MAA Reit Residential median
Gross margin 56.37% 58.39% 58.73%
Operating margin 25.48% 26.88% 20.57%
Net margin 23.07% 18.01% 20.81%
Free cash flow margin 56.48% 24.97% 20.24%
Return on equity 7.01% 6.86% 6.86%
Return on assets 3.55% 3.35% 3.17%
Return on invested capital 3.41% 3.33% 2.03%

Growth

Metric INVH MAA Reit Residential median
Revenue growth (TTM) 6.72% 0.85% 2.66%
EPS growth (last fiscal year) 29.73% (15.81%) —
Revenue growth, 5-year CAGR 8.41% 5.65% 7.53%
Net income growth, 5-year CAGR 24.56% 12.02% 3.76%

Health

Metric INVH MAA Reit Residential median
Debt to equity 0.47 1.02 0.78
Current ratio 0.02 0.09 0.54
Net debt to EBITDA 2.67 4.27 4.27

Dividend

Metric INVH MAA Reit Residential median
Dividend yield 3.19% 4.67% 4.63%
Payout ratio 1.33 1.04 1.35

Size

Metric INVH MAA Reit Residential median
Market cap 15.65b 13.95b 4.17b

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