Invitation Home (INVH) vs Sun Communities, Inc. (SUI)

Invitation Home and Sun Communities, Inc. are both Reit Residential companies. Invitation Home and Sun Communities, Inc. are of similar size ($15.9B and $14.6B). Sun Communities, Inc. has negative trailing earnings, so its P/E is not meaningful; Invitation Home trades at 24.0×. Sun Communities, Inc. grew revenue faster over the last twelve months: 11.3% against 7.21%. Invitation Home has the higher net margin (23.5% vs 10.1%) and the lower return on invested capital (3.44% vs 3.82%). Both pay a dividend; Invitation Home yields more (4.38% vs 3.62%). Across the 22 metrics below, Invitation Home leads on 15 and Sun Communities, Inc. on 7.

Valuation

Metric INVH SUI Reit Residential median
P/E 24.04 n/m 28.23
P/S 5.57 6.11 5.57
P/B 1.82 2.68 1.88
Price to free cash flow 7.33 26.76 20.32
EV/EBITDA 13.36 34.04 15.93
EV/Sales 6.93 7.39 8.07
Earnings yield 4.16% (5.00%) 2.74%
Free cash flow yield 13.64% 3.74% 4.10%

Profitability

Metric INVH SUI Reit Residential median
Gross margin 55.67% 58.51% 58.68%
Operating margin 24.32% 21.71% 20.58%
Net margin 23.47% 10.07% 17.85%
Free cash flow margin 75.91% 22.83% 27.64%
Return on equity 7.34% 3.78% 6.17%
Return on assets 3.65% 2.14% 3.20%
Return on invested capital 3.44% 3.82% 2.03%

Growth

Metric INVH SUI Reit Residential median
Revenue growth (TTM) 7.21% 11.34% 3.11%
EPS growth (last fiscal year) 29.73% 1,426.76% 9.26%
Revenue growth, 5-year CAGR 8.41% 10.52% 8.41%
Net income growth, 5-year CAGR 24.56% 59.56% 4.20%

Health

Metric INVH SUI Reit Residential median
Debt to equity 0.46 0.69 0.77
Current ratio 0.01 4.68 0.54
Net debt to EBITDA 2.67 3.65 4.26

Dividend

Metric INVH SUI Reit Residential median
Dividend yield 4.38% 3.62% 4.48%
Payout ratio 1.05 — 1.06

Size

Metric INVH SUI Reit Residential median
Market cap 15.88b 14.57b 6.71b

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