Camden Property Trust vs Independence Realty Trust
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KIRA’s take AI analyst
I put Camden Property Trust and Independence Realty Trust side by side, using each one’s latest annual report. Here is what stands out:
- Camden Property Trust is the larger business, with $1.6B of revenue in fiscal 2025 against $658M for Independence Realty Trust, about 2.4 times as much.
- Independence Realty Trust grew revenue faster (2.8%, against 1.9%).
- Camden Property Trust earned a higher return on the capital invested in it (6.3%, against 2.3%).
- Investors pay more for each dollar of Independence Realty Trust’s earnings: a P/E of 83.1x against 33.8x for Camden Property Trust.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Camden Property Trust
CPT
5/7
Net marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Independence Realty Trust
IRT
2/7
Revenue growth5-year growth
Side by side
Best in the row
| Latest fiscal year | CPT FY25 | IRT FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $3.5B |
| Revenue | $1.6B | $658M |
| Free cash flow | $386M | — |
| Net income | $385M | $56.6M |
| Growth | ||
| Revenue growth | 1.9% | 2.8% |
| 5-year growth | 8.6% | 25.4% |
| Share count change | −0.1% | 4.1% |
| Profitability | ||
| Gross margin | 64.0% | — |
| Operating margin | — | — |
| Net margin | 24.4% | 8.6% |
| FCF margin | 24.5% | — |
| Return on capital | 6.3% | 2.3% |
| Return on equity | 8.5% | 1.6% |
| Balance sheet | ||
| Net debt | $3.9B | $2.3B |
| Net debt / EBITDA | 3.4x | 6.0x |
| Dividends and buybacks | $732M | $184M |
| Valuation & quality | ||
| P/E | 33.8x | 83.1x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

