Invitation Homes Inc. Earnings Per Share Disclosure
| For the Years Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| (in thousands, except share and per share data) | ||||||||||||||||||||
| Numerator: | ||||||||||||||||||||
| Net income available to common stockholders — basic and diluted | $ | 586,964 | $ | 453,164 | $ | 518,774 | ||||||||||||||
| Denominator: | ||||||||||||||||||||
| Weighted average common shares outstanding — basic | 612,948,321 | 612,551,317 | 611,893,784 | |||||||||||||||||
| Effect of dilutive securities: | ||||||||||||||||||||
| Incremental shares attributed to non-vested share-based awards | 229,485 | 1,080,300 | 1,394,924 | |||||||||||||||||
| Weighted average common shares outstanding — diluted | 613,177,806 | 613,631,617 | 613,288,708 | |||||||||||||||||
| Net income per common share — basic | $ | 0.96 | $ | 0.74 | $ | 0.85 | ||||||||||||||
| Net income per common share — diluted | $ | 0.96 | $ | 0.74 | $ | 0.85 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 29, 2018 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.