What is Invitation Homes Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Invitation Homes Inc.'s reported free cash flow gives $29.01 per share. The share price was $27.09 on November 10, 2026, 7% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 3.5% | 10.0% | $12.75 | -53% |
| Base | 8.5% | 9.0% | $29.01 | +7% |
| Bull | 13.5% | 8.0% | $61.45 | +127% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $41.18 | $44.91 | $49.48 | $55.18 | $62.51 |
| 8.0% | $32.09 | $34.51 | $37.37 | $40.80 | $45.00 |
| 9.0% | $25.45 | $27.10 | $29.01 | $31.24 | $33.88 |
| 10.0% | $20.40 | $21.58 | $22.91 | $24.44 | $26.19 |
| 11.0% | $16.43 | $17.30 | $18.26 | $19.35 | $20.58 |
Where the presets come from
Base: years 1 to 5 grow at Invitation Homes Inc.'s revenue growth rate over the last 5 fiscal years (8.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions