Invitation Homes vs Park Hotels & Resorts

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KIRA’s take AI analyst

I put Invitation Homes and Park Hotels & Resorts side by side, using each one’s latest annual report. Here is what stands out:

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 −2.2%).

Who comes out ahead

Of the 5 measures where higher (or lower) is clearly better, how many each company leads.

Invitation Homes

INVH

3/5

Revenue growthNet marginReturn on equity

Park Hotels & Resorts

2/5

5-year growthShare count change

Side by side

Best in the row

Latest fiscal year	INVH FY25	PK FY25
Size
Market cap	$16.3B	$3.3B
Revenue	$2.7B	$2.5B
Free cash flow	—	$102M
Net income	$588M	−$283M
Growth
Revenue growth	4.2%	−2.2%
5-year growth	8.4%	24.4%
Share count change	−0.1%	−4.8%
Profitability
Gross margin	—	—
Operating margin	—	−1.3%
Net margin	21.5%	−11.1%
FCF margin	—	4.0%
Return on capital	—	−0.4%
Return on equity	6.1%	−8.4%
Balance sheet
Net debt	$8.3B	$3.6B
Net debt / EBITDA	—	12.0x
Dividends and buybacks	$766M	$325M
Valuation & quality
P/E	25.2x	—
Piotroski F-score	—	—

Ten years

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

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

INVH PK

Operating margin

FY16

INVH 20.7%

PK 15.4%

FY17

INVH 11.2%

PK 13.3%

FY18

INVH —

PK 18.4%

FY19

INVH —

PK 15.0%

FY20

INVH —

PK −141.1%

FY21

INVH —

PK −13.1%

FY22

INVH —

PK 11.8%

FY23

INVH —

PK 12.7%

FY24

INVH —

PK 15.0%

FY25

INVH —

PK −1.3%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

INVH PK

Free cash flow

FY16

INVH —

PK $172M

FY17

INVH —

PK $468M

FY18

INVH —

PK $266M

FY19

INVH —

PK $259M

FY20

INVH —

PK −$524M

FY21

INVH —

PK −$191M

FY22

INVH —

PK $241M

FY23

INVH —

PK $218M

FY24

INVH —

PK $202M

FY25

INVH —

PK $102M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

INVH PK

Return on capital

FY16

INVH —

PK —

FY17

INVH —

PK —

FY18

INVH 1.7%

PK 5.8%

FY19

INVH 3.0%

PK 4.2%

FY20

INVH 3.3%

PK −10.0%

FY21

INVH 3.5%

PK −1.6%

FY22

INVH 3.9%

PK 3.6%

FY23

INVH 4.8%

PK 3.4%

FY24

INVH —

PK 5.6%

FY25

INVH —

PK −0.4%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

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.