InvenTrust Properties Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data InvenTrust Properties Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	243	252	243	226	198	212	237	259	274	299
General and administrative	49.1	42.7	35.3	35.4	33.1	38.2	33.3	31.8	33.2	34.9
Operating expenses	215	209	206	199	180	209	201	223	227	248
Operating income	27.6	16.7	47.1	36.4	-28.4	-8.14	17	-30.5	-33.3	60
Interest expense	44.1	30.2	24.9	22.7	18.7	16.3	26.8	38.1	37.1	34.5
Interest income	11.8	3.94	2.49	2.49
Other non-operating income	2.33	-0.31	2.71	1.38	3.33	0.61	2.03	5.48	3.76	3.58
Pre-tax income	119	59.3	83.9	65
Income tax	0.2	1.32	0.03	1.1				0.52	0.54	0.57
Income from continuing operations	119	58	83.8	63.9	-10.2	-5.36
Net income	253	61.8	83.8	38.4	-10.2	-5.36	52.2	5.27	13.7	111
EBITDA	144	112	148	134	59.4	79	112	82.9	80.6	189
EPS, basic	3.07	0.74	1.17	0.53	-0.14	-0.08	0.77	0.08	0.19	1.44
EPS, diluted	3.07	0.74	1.17	0.53	-0.14	-0.08	0.77	0.08	0.19	1.42
Shares, basic (weighted)	80.6	73	71.8	72.9	72	71.1	67.4	67.5	70.4	77.6
Shares, diluted (weighted)	80.6	73.1	71.9	73	72	71.1	67.5	67.8	71	78.3
Dividend per share							0.82	0.86	0.91	0.95

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	397	163	260	255	223	44.9	138	99.8	91.2	40.5
Lease right-of-use assets				2.52	2.7	2.96	3.22	3.22	3.01	2.68
Total assets	2,787	2,699	2,536	2,507	2,407	2,212	2,473	2,487	2,636	2,789
Long-term debt									740	826
Total liabilities	837	793	684	688	668	641	869	933	876	994
Total debt	435	668	562	573	555	533	755	815	740	823
Paid-in capital	5,677	5,682	5,586	5,569	5,567	5,453	5,457	5,469	5,730	5,737
Other comprehensive income	59.1	1.95	1.64	1.06	-12.4	-4.32	26.7	18.1	14.4	4.76
Shareholders' equity	1,950	1,906	1,852	1,820	1,739	1,572	1,604	1,554	1,760	1,794
Total equity	1,950	1,906	1,852	1,820	1,739	1,572	1,604	1,554	1,760	1,794
Total liabilities and equity	2,787	2,699	2,536	2,507	2,407	2,212	2,473	2,487	2,636	2,789
Shares outstanding	73	73	68.7	721	72	67.3	67.5	67.8	77.5	77.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	253	61.8	83.8	38.4	-10.2	-5.36	52.2	5.27	13.7	111
Depreciation and amortization	116	95.3	101	97.4	87.8	87.1	95	113	114	128
Stock-based compensation	2.18	3.36	4.33	5.54	4.45	9.12	6.54	9.02	9.9	10.9
Deferred income tax	0	0	0
Change in receivables	-0.05	-1.05	-1.58	-4.92	-7.45	0.26	-1	1.48	1.51	-1.72
Change in payables	-8.13	5.56	2.5	-0.07	-1.89	1.88	8.41	2.05	0.51	-0.8
Cash from operations	133	118	125	106	94.2	90	126	130	137	155
Capital expenditures	-13.7	-15.9	-27.2	-17.8	-12.9	-15.4	-33.2	-35.7	-36.1	-44.5
Sales and maturities of investments	12.8	172	4.7	0	0
Cash from investing	1,079	-209	175	-41.8	-49.1	-64.7	-144	-79.7	-241	-145
Debt issued					0	0	250	0	0
Stock issued						0	0	5.17
Share buybacks	-241	0	0	-20.4	-5.2	-116	0	0
Dividends paid	-98.6	-53.4	-54.2	-53.3	-54.2	-55.6	-55.3	-57.5	-62.8	-72.8
Cash from financing	-1,013	-159	-207	-68.3	-82.1	-204	112	-87.9	95.1	-61.2
Net change in cash	199	-250	93	-4.11	-37	-179	92.9	-38	-8.54	-50.7
Free cash flow	119	102	97.4	88.3	81.2	74.6	92.6	93.9	101	111
Interest paid	57	31.2	24.1	21.3	17.3	14.6	18.7	33.1	35.6	31.3
Income taxes paid	0.97	0.63	0.46	0.45	0.83	0.28	-0.39	0.21	0.53	0.66

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $30.53 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-11.6%	Operating income / revenue.
EBITDA margin	33.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	4.8%	Net income / revenue.
FCF margin	37.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	50.7%	Cash from operations / revenue.
Return on equity (ROE)	0.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.5%	Net income / average total assets.
Return on invested capital (ROIC)	-1.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	3.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	12.7%	Capital expenditures / revenue.
D&A / revenue	44.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	52.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	133.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	19.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	26.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	715.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	28.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	647.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	22.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	13.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	10.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	6.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	5.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	1.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	10.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.62x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	36.1%	Total debt / total assets.
Liabilities / assets	41.8%	Total liabilities / total assets.
Net debt	$1.02B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	9.68x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.94x	Operating income / interest expense.
Tangible book value	$1.77B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.10x	Revenue / average total assets.
FCF conversion	789.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	25.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.19	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.03	Revenue / diluted weighted shares.
FCF per share	$1.53	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.04	Cash from operations / diluted weighted shares.
Book value per share	$22.65	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$22.65	Tangible book value / shares outstanding.
Cash per share	$0.96	(Cash + short-term investments) / shares outstanding.
Payout ratio	491.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	62.2%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.38B	Share price x shares outstanding.
Enterprise value	$3.40B	Market cap + total debt - cash - short-term investments.
P/E	156x	Market cap / net income. Only when net income is positive.
P/S	7.50x	Market cap / revenue.
P/B	1.35x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.35x	Market cap / tangible book value, when positive.
P/FCF	19.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.8x	Market cap / cash from operations, when positive.
EV/Sales	10.7x	Enterprise value / revenue.
EV/EBITDA	32.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	28.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.1%	Free cash flow / market cap.
Earnings yield	0.6%	Net income / market cap (the inverse of P/E).
Dividend yield	3.1%	Dividends paid over the period / market cap.
Shareholder yield	3.1%	(Dividends paid + share buybacks) / market cap.
PEG	6.90x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was InvenTrust Properties Corp.'s revenue in fiscal 2025?

InvenTrust Properties Corp. reported revenue of $299.2M for fiscal 2025, 9.2% higher than the year before.

Was InvenTrust Properties Corp. profitable in fiscal 2025?

Yes. Net income was $111.4M, a net margin of 37.2%.

How much free cash flow did InvenTrust Properties Corp. generate in fiscal 2025?

Cash from operations of $155.4M minus capital expenditures of $44.5M left free cash flow of $110.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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