Invitation Homes vs Park Hotels & Resorts
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The short version
- Invitation Homes is the larger business, with $2.7B of revenue in fiscal 2025 against $2.5B for Park Hotels & Resorts.
- Invitation Homes grew revenue faster (4.2%, against β2.2%).
| Latest fiscal year | INVH Β· FY25 | PK Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.3B | $3.3B |
| Revenue | $2.7B | $2.5B |
| Free cash flow | β | $102M |
| Net income | $588M | β$283M |
| Growth | ||
| Revenue growth | 4.2% | β2.2% |
| 5-year growth | 8.4% | 24.4% |
| Share count change | β0.1% | β4.8% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β1.3% |
| Net margin | 21.5% | β11.1% |
| FCF margin | β | 4.0% |
| Return on capital | β | β0.4% |
| Return on equity | 6.1% | β8.4% |
| Balance sheet | ||
| Net debt | $8.3B | $3.6B |
| Net debt / EBITDA | β | 12.0x |
| Dividends and buybacks | $766M | $325M |
| Valuation & quality | ||
| P/E | 25.3x | β |
| Piotroski F-score | β | β |
Revenue
FY16
INVH $923M
PK $2.7B
FY17
INVH $1.1B
PK $2.8B
FY18
INVH $1.7B
PK $2.7B
FY19
INVH $1.8B
PK $2.8B
FY20
INVH $1.8B
PK $852M
FY21
INVH $2.0B
PK $1.4B
FY22
INVH $2.2B
PK $2.5B
FY23
INVH $2.4B
PK $2.7B
FY24
INVH $2.6B
PK $2.6B
FY25
INVH $2.7B
PK $2.5B
INVH
PK
Operating margin
FY16
INVH 20.7%
PK 15.4%
FY17
INVH 11.2%
PK 13.3%
FY18
INVH β
PK 18.4%
FY19
INVH β
PK 15.0%
FY20
INVH β
PK β141.1%
FY21
INVH β
PK β13.1%
FY22
INVH β
PK 11.8%
FY23
INVH β
PK 12.7%
FY24
INVH β
PK 15.0%
FY25
INVH β
PK β1.3%
INVH
PK
Free cash flow
FY16
INVH β
PK $172M
FY17
INVH β
PK $468M
FY18
INVH β
PK $266M
FY19
INVH β
PK $259M
FY20
INVH β
PK β$524M
FY21
INVH β
PK β$191M
FY22
INVH β
PK $241M
FY23
INVH β
PK $218M
FY24
INVH β
PK $202M
FY25
INVH β
PK $102M
INVH
PK
Return on capital
FY16
INVH β
PK β
FY17
INVH β
PK β
FY18
INVH 1.7%
PK 5.8%
FY19
INVH 3.0%
PK 4.2%
FY20
INVH 3.3%
PK β10.0%
FY21
INVH 3.5%
PK β1.6%
FY22
INVH 3.9%
PK 3.6%
FY23
INVH 4.8%
PK 3.4%
FY24
INVH β
PK 5.6%
FY25
INVH β
PK β0.4%
INVH
PK
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.