Invitation Homes Inc

Financial Health of Invitation Homes Inc

Comparing to competitors in the REIT-Residential industry

Industry Rankings

Invitation Homes Inc
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Let's analyse Invitation Homes Inc

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Company's Financial Health
A deep dive into the books. How are the numbers doing? Is Invitation Homes Inc even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
Market Valuation
Finally, you now have an insight of how Invitation Homes Inc is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Invitation Homes Inc. The closing price on 2022-12-02 was $32.36 per share. Is the company over- or underpriced?
Key Performance Indicators
A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.

Invitation Homes Inc Daily Candlestick Chart

Summary

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very efficient.
The company is efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of Invitation Homes Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Invitation Homes Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
A Net Profit Margin of 0.0% means that $0.00 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Invitation Homes Inc:

The MRQ is 0.0%. The company is not making a profit/loss.
The TTM is 12.9%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	0.0%	TTM	12.9%	-12.9%
TTM	12.9%	YOY	13.3%	-0.4%
TTM	12.9%	5Y	7.5%	+5.4%
5Y	7.5%	10Y	1.1%	+6.4%

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.0%	32.8%	-32.8%
TTM	12.9%	32.5%	-19.6%
YOY	13.3%	21.0%	-7.7%
5Y	7.5%	29.0%	-21.5%
10Y	1.1%	33.4%	-32.3%

Measures how much net profit Invitation Homes Inc earns for each $1 of revenue.

Revenue is the amount of profit Invitation Homes Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Invitation Homes Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be used to compare companies within the REIT-Residential industry.

You typically want a high profit margin. This means that for each $1 in sales, Invitation Homes Inc makes more profit. This shows the investor how efficiently Invitation Homes Inc is operating in general and compared to other companies in the same industry. Invitation Homes Inc operates in the REIT-Residential industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Invitation Homes Inc. If profit margins remain low (compared to the REIT-Residential industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Invitation Homes Inc is 0.00. This means that Invitation Homes Inc earned $0.00 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the REIT-Residential industry is 32.8%.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Invitation Homes Inc with other companies in the same industry (REIT-Residential).
Net profit margin should rise over the years.
Can be influenced when Invitation Homes Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of Invitation Homes Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Invitation Homes Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Invitation Homes Inc = -147
Total revenue MRQ Invitation Homes Inc = 568,675
$-147 / $568,675 = 0.00 or 0.0%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Invitation Homes Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
0.0% Return on Assets means that Invitation Homes Inc generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Invitation Homes Inc:

The MRQ is 0.0%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 0.4%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.0%	TTM	0.4%	-0.4%
TTM	0.4%	YOY	0.4%	+0.0%
TTM	0.4%	5Y	0.2%	+0.2%
5Y	0.2%	10Y	0.0%	+0.2%

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.0%	1.1%	-1.1%
TTM	0.4%	1.2%	-0.8%
YOY	0.4%	0.6%	-0.2%
5Y	0.2%	1.0%	-0.8%
10Y	0.0%	1.1%	-1.1%

Shows how efficient Invitation Homes Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Invitation Homes Inc is using its resources to generate profit. If the return on assets (0.0%) from Invitation Homes Inc are higher than the REIT-Residential mean (1.1%) that means Invitation Homes Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Invitation Homes Inc is 0.0%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the REIT-Residential industry is 1.1%.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Invitation Homes Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Invitation Homes Inc = -147
Total assets MRQ (balance sheet) from Invitation Homes Inc = 18,678,414
-147 / 18,678,414 = 0.00 or 0.0%

ROA is an important ratio as it will tell you how effectively Invitation Homes Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Invitation Homes Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
0.0% Return on Equity means Invitation Homes Inc generated $0.00 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Invitation Homes Inc:

The MRQ is 0.0%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is 0.7%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.0%	TTM	0.7%	-0.7%
TTM	0.7%	YOY	0.7%	-0.1%
TTM	0.7%	5Y	0.4%	+0.3%
5Y	0.4%	10Y	-0.4%	+0.8%

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.0%	2.1%	-2.1%
TTM	0.7%	2.2%	-1.5%
YOY	0.7%	1.5%	-0.8%
5Y	0.4%	2.1%	-1.7%
10Y	-0.4%	1.9%	-2.3%

Shows how efficient Invitation Homes Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the REIT-Residential industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Invitation Homes Inc is 0.0%. This means Invitation Homes Inc generated $0.00 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the REIT-Residential industry is 2.1%.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if Invitation Homes Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Invitation Homes Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Invitation Homes Inc = -147
Shareholders equity (balance sheet) MRQ Invitation Homes Inc = 10,315,126
-147 / 10,315,126 = 0.00 or 0.0%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Invitation Homes Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Invitation Homes Inc is operating .

Measures how much profit Invitation Homes Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
An Operating Margin of 13.4% means the company generated $0.13 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Invitation Homes Inc:

The MRQ is 13.4%. The company is operating less efficient.
The TTM is 26.9%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	13.4%	TTM	26.9%	-13.5%
TTM	26.9%	YOY	30.8%	-3.9%
TTM	26.9%	5Y	26.4%	+0.5%
5Y	26.4%	10Y	23.4%	+3.0%

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	13.4%	51.8%	-38.4%
TTM	26.9%	39.8%	-12.9%
YOY	30.8%	28.4%	+2.4%
5Y	26.4%	32.4%	-6.0%
10Y	23.4%	27.7%	-4.3%

Measures how efficient Invitation Homes Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Invitation Homes Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Invitation Homes Inc is 13.4%. This means that Invitation Homes Inc earned $0.13 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the REIT-Residential industry is 51.8%.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Invitation Homes Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Invitation Homes Inc = 65,494
Total revenue MRQ Invitation Homes Inc = 568,675
$65,494 / $568,675 = 0.13 or 13.4%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Invitation Homes Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to REIT-Residential industry mean).
An Operation Ratio of 0.88 means that the operating costs are $0.88 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Invitation Homes Inc:

The MRQ is 0.885. The company is less efficient in keeping operating costs low.
The TTM is 0.751. The company is efficient in keeping operating costs low. +1

Trends

Current period		Compared to		+/-
MRQ	0.885	TTM	0.751	+0.134
TTM	0.751	YOY	0.731	+0.020
TTM	0.751	5Y	0.766	-0.015
5Y	0.766	10Y	0.820	-0.055

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.885	0.816	+0.069
TTM	0.751	0.826	-0.075
YOY	0.731	0.805	-0.074
5Y	0.766	0.780	-0.014
10Y	0.820	0.770	+0.050

Measures how efficient Invitation Homes Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Invitation Homes Inc is 88.5%. This means that Invitation Homes Inc earned $0.88 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the REIT-Residential industry is 0.82.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Invitation Homes Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(203,787 +299,394) \ 568,675 = 0.88

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Invitation Homes Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Invitation Homes Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to REIT-Residential industry mean).
A Current Ratio of 53.41 means the company has $53.41 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Invitation Homes Inc:

The MRQ is 53.408. The company is very able to pay all its short-term debts. +2
The TTM is 45.700. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	53.408	TTM	45.700	+7.708
TTM	45.700	YOY	2.989	+42.712
TTM	45.700	5Y	10.946	+34.754
5Y	10.946	10Y	7.967	+2.979

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	53.408	0.618	+52.790
TTM	45.700	1.003	+44.697
YOY	2.989	0.981	+2.008
5Y	10.946	1.379	+9.567
10Y	7.967	1.316	+6.651

Measures if Invitation Homes Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to REIT-Residential industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Invitation Homes Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Invitation Homes Inc is 53.41. This means Invitation Homes Inc has $53.41 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT-Residential industry is 0.62.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Invitation Homes Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
17,409,275 \ 325,967) = 53.41

The current ratio measures if Invitation Homes Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Invitation Homes Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Invitation Homes Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Invitation Homes Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Invitation Homes Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
A Quick Ratio of 106.02 means the company can pay off $106.02 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Invitation Homes Inc:

The MRQ is 106.020. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 125.639. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	106.020	TTM	125.639	-19.619
TTM	125.639	YOY	1.426	+124.213
TTM	125.639	5Y	26.150	+99.489
5Y	26.150	10Y	18.368	+7.781

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	106.020	0.172	+105.848
TTM	125.639	0.638	+125.001
YOY	1.426	0.348	+1.078
5Y	26.150	0.531	+25.619
10Y	18.368	0.502	+17.866

Measures if Invitation Homes Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Invitation Homes Inc can pay off its short term debts. This shows if Invitation Homes Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Invitation Homes Inc is 106.02. This means that Invitation Homes Inc can pay off $106.02 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT-Residential industry is 0.17.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Invitation Homes Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Invitation Homes Inc: (17,409,275 + 17,108,963 +40,768) / 325,967 = 106.02

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Invitation Homes Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Invitation Homes Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Invitation Homes Inc to REIT-Residential industry mean.
A Debt to Asset Ratio of 0.45 means that Invitation Homes Inc assets are financed with 44.6% credit (debt) and the remaining percentage (100% - 44.6%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Invitation Homes Inc:

The MRQ is 0.446. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.445. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.446	TTM	0.445	+0.001
TTM	0.445	YOY	0.501	-0.055
TTM	0.445	5Y	0.511	-0.066
5Y	0.511	10Y	0.581	-0.069

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.446	0.504	-0.058
TTM	0.445	0.511	-0.066
YOY	0.501	0.522	-0.021
5Y	0.511	0.512	-0.001
10Y	0.581	0.513	+0.068

Measures how much % of Invitation Homes Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Invitation Homes Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Invitation Homes Inc to REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Invitation Homes Inc is 0.45. This means means that Invitation Homes Inc is financed with 44.6% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT-Residential industry is 61.8%.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Invitation Homes Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Invitation Homes Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
8,332,065 \ 18,678,414 = 44.6% or 0.45.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Invitation Homes Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Invitation Homes Inc to the REIT-Residential industry mean.
A Debt to Equity ratio of 80.8% means that company has $0.81 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Invitation Homes Inc:

The MRQ is 0.808. The company is very able to pay all its debts with equity. +2
The TTM is 0.806. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.808	TTM	0.806	+0.002
TTM	0.806	YOY	1.010	-0.204
TTM	0.806	5Y	1.067	-0.262
5Y	1.067	10Y	1.707	-0.640

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	0.808	1.089	-0.281
TTM	0.806	1.051	-0.245
YOY	1.010	1.104	-0.094
5Y	1.067	1.068	-0.001
10Y	1.707	1.094	+0.613

Measures if Invitation Homes Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Invitation Homes Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Invitation Homes Inc is 0.81. This means that Invitation Homes Inc can pay off $0.81 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT-Residential industry is 1.09.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Invitation Homes Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
8,332,065 \ 10,315,126 = 0.81 or 80.8%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Invitation Homes Inc

2. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Invitation Homes Inc generates.

Above 15 is considered overpriced but always compare Invitation Homes Inc to the REIT-Residential industry mean.
A PE ratio of 261.78 means the investor is paying $261.78 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Invitation Homes Inc:

The EOD is 250.851. Seems overpriced? -1
The MRQ is 261.781. Seems overpriced? -1
The TTM is 274.065. Seems overpriced? -1

Trends

Current period		Compared to		+/-
EOD	250.851	MRQ	261.781	-10.930
MRQ	261.781	TTM	274.065	-12.284
TTM	274.065	YOY	329.087	-55.021
TTM	274.065	5Y	1,093.188	-819.122
5Y	1,093.188	10Y	806.208	+286.979

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
EOD	250.851	25.133	+225.718
MRQ	261.781	28.939	+232.842
TTM	274.065	44.896	+229.169
YOY	329.087	38.587	+290.500
5Y	1,093.188	21.980	+1,071.208
10Y	806.208	18.035	+788.173

Measures how much money you pay for each share for every $1 in earnings Invitation Homes Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Invitation Homes Inc to the REIT-Residential industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Invitation Homes Inc is 261.78. This means the investor is paying $261.78 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT-Residential industry is 28.94.
What is the trend?
The trend is important because it shows you how Invitation Homes Inc is performing over time. The most recent quarter might be important if Invitation Homes Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Invitation Homes Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Invitation Homes Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
79,032 \ 612,648 = EPS
PE ratio MRQ = 261.78

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Invitation Homes Inc.

Lower is better.
A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of Invitation Homes Inc:

The MRQ is -647.160. Very Bad. -2
The TTM is 1,767.860. Seems overpriced? -1

Trends

Current period		Compared to		+/-
MRQ	-647.160	TTM	1,767.860	-2,415.020
TTM	1,767.860	YOY	2,332.027	-564.166
TTM	1,767.860	5Y	-58.975	+1,826.835
5Y	-58.975	10Y	-34.066	-24.908

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
MRQ	-647.160	0.190	-647.350
TTM	1,767.860	-0.073	+1,767.933
YOY	2,332.027	0.211	+2,331.816
5Y	-58.975	-0.049	-58.926
10Y	-34.066	0.077	-34.143

PEG Ratio	Meaning
0.5	You can buy the stock cheap based on future growth
1	You pay a fair price based on future growth
2	The stock is overpriced based on future growth

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Invitation Homes Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to REIT-Residential industry mean).
A PB ratio of 2.00 means the investor is paying $2.00 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Invitation Homes Inc:

The EOD is 1.916. Good. +1
The MRQ is 2.000. Good. +1
The TTM is 2.297. Good. +1

Trends

Current period		Compared to		+/-
EOD	1.916	MRQ	2.000	-0.083
MRQ	2.000	TTM	2.297	-0.297
TTM	2.297	YOY	2.374	-0.077
TTM	2.297	5Y	2.035	+0.262
5Y	2.035	10Y	1.787	+0.248

Compared to industry (REIT-Residential)

Period	Company	Industry (mean)	+/-
EOD	1.916	1.086	+0.830
MRQ	2.000	1.245	+0.755
TTM	2.297	1.662	+0.635
YOY	2.374	1.258	+1.116
5Y	2.035	1.131	+0.904
10Y	1.787	1.000	+0.787

2. Total Gains per Share

2.4. Latest News of Invitation Homes Inc

Does Invitation Homes Inc still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Invitation Homes Inc to keep up to date. Note: the news is often already included in the price.

Date	Title	Read
2022-11-08 11:23	Invitation Homes Third Quarter 2022 Earnings: EPS Misses Expectations	Read

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Invitation Homes Inc.

3.1. Institutions holding Invitation Homes Inc

Institutions are holding 102.196% of the shares of Invitation Homes Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2022-06-30	Vanguard Group Inc	14.2546	0.0872	87153910	504478	0.5822
2022-06-30	Cohen & Steers Inc	13.4251	5.7362	82082162	7325007	9.7984
2022-06-30	State Street Corporation	4.7341	0.0617	28945024	-125704	-0.4324
2022-06-30	Principal Financial Group Inc	3.5653	0.5739	21798499	-9713	-0.0445
2022-06-30	FMR Inc	3.3951	0.0736	20757751	881365	4.4342
2022-06-30	Apg Investments Us Inc	2.9243	4.3654	17879464	-92787	-0.5163
2022-06-30	Resolution Capital Limited	2.8954	9.4687	17703018	3679192	26.2353
2022-06-30	Daiwa Securities Group Inc	2.3816	3.9582	14561442	1038478	7.6794
2022-06-30	Amvescap Plc.	2.152	0.1418	13157324	-260689	-1.9428
2022-06-30	CenterSquare Investment Management LLC	1.8788	4.2124	11487041	2092778	22.2772
2022-03-31	PGGM Investments	1.7555	2.4224	10733086	0	0
2022-06-30	Geode Capital Management, LLC	1.5111	0.0481	9239212	118048	1.2942
2022-06-30	Dimensional Fund Advisors, Inc.	1.4521	0.1133	8878437	-118398	-1.316
2022-06-30	JPMorgan Chase & Co	1.3854	0.042	8470643	-497556	-5.548
2022-06-30	Canada Pension Plan Investment Board	1.2696	0.4588	7762574	1189743	18.1009
2022-06-30	Legal & General Group PLC	1.093	0.0841	6682426	271413	4.2335
2022-03-31	Morgan Stanley - Brokerage Accounts	0.9562	0.0317	5846539	301041	5.4286
2022-06-30	Northern Trust Corp	0.8154	0.038	4985155	-47659	-0.947
2022-06-30	Sumitomo Mitsui Trust Holdings Inc	0.8068	0.135	4932803	-57245	-1.1472
2022-06-30	Charles Schwab Investment Management Inc	0.7875	0.0596	4814744	-16618	-0.344
Total		63.4389	32.1121	387871254	+16175174	+4.2%

3.2. Funds holding Invitation Homes Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2022-09-30	Vanguard Real Estate Index Investor	4.543	1.5102	27776079	-258823	-0.9232
2022-09-30	Vanguard Instl Ttl Stck Mkt Idx Tr	2.9756	0.058	18192959	204683	1.1379
2022-09-30	Vanguard Total Stock Mkt Idx Inv	2.9756	0.0575	18192959	111088	0.6144
2022-09-30	Vanguard Mid Cap Index Institutional	2.3029	0.3771	14080294	56965	0.4062
2022-09-30	Vanguard 500 Index Investor	2.147	0.0644	13126951	13126951	0
2022-09-30	Cohen & Steers Instl Realty Shares	1.9813	7.1448	12114112	768313	6.7718
2022-09-30	Cohen & Steers Real Estate Securities A	1.8095	5.6154	11063463	0	0
2022-09-30	Cohen & Steers Realty Shares L	1.7699	6.7459	10821084	-2075052	-16.0905
2022-03-17	Daiwa US-REIT Open Mother Fund	1.3979	5.7642	8546899	4895228	134.0545
2022-09-30	Principal Real Estate Securities R5	1.1492	4.2653	7026536	0	0
2022-09-30	SPDR® S&P 500 ETF Trust	1.0402	0.0647	6359760	56072	0.8895
2022-03-07	AMOne Shinko US-REIT Open	0.8863	5.3059	5418843	407461	8.1307
2022-09-30	iShares Core S&P 500 ETF	0.8469	0.0652	5177876	-2076	-0.0401
2022-09-30	Vanguard Growth Index Investor	0.8226	0.1303	5029550	29024	0.5804
2022-08-31	DFA Real Estate Securities I	0.7033	1.6961	4300318	0	0
2022-09-30	Vanguard Institutional Index I	0.6883	0.0647	4208094	4208094	0
2022-03-15	Fidelity US REIT Mother Fund	0.6741	2.4578	4121500	46000	1.1287
2022-09-30	Vanguard Mid-Cap Growth ETF	0.6692	0.7862	4091843	-16810	-0.4091
2022-09-30	Vanguard Real Estate II Index	0.6121	1.7179	3742531	21391	0.5749
2022-09-30	Cohen & Steers Qty Inc Realty	0.5444	4.7481	3328774	-81124	-2.3791
Total		30.5393	48.6397	186720425	+21497385	+11.5%

3.3. Insider Transactions

Insiders are holding 0.218% of the shares of Invitation Homes Inc.

Date	Owner	Type	Amount	Price	Post Transaction Amount
2021-12-15	Dallas B Tanner	SELL	23120	42.43
2021-07-12	Janice L Sears	SELL	2850	40
2021-03-10	Charles D Young	SELL	55439	29.24	114116
2020-09-14	Bryce Blair	SELL	50000	29.25	291412
2020-08-17	Dallas B Tanner	SELL	80000	29.58	234109
2020-08-10	Charles D Young	SELL	13856	30.21
2020-08-10	Ernest Michael Freedman	SELL	50000	30.25
2020-03-03	Charles D Young	SELL	20201	29.79	190422
2019-11-26	Vii-nq Side-by-side Gp L Brep	SELL	57600000	30.05
2019-11-20	Barry S Sternlicht	SELL	42758	30	11187
2019-11-18	Barry S Sternlicht	SELL	533536	30.11	11187
2019-11-15	Dallas B Tanner	SELL	70000	29.88	302682
2019-11-14	Barry S Sternlicht	SELL	112179	30	11187
2019-11-06	Barry S Sternlicht	SELL	124383	30	11187
2019-11-04	Barry S Sternlicht	SELL	463048	30.44	11187
2019-09-23	Real Estate Partner Blackstone	SELL	44000000	28.18
2019-08-29	Mark A Solls	SELL	30000	29.01	94858
2019-08-19	Ernest Michael Freedman	SELL	31892	28.41	342786
2019-06-26	Holdings L.p. Blackstone Ii	SELL	37500000	27.43
2019-06-03	Brep Ih6 Holdings Llc	SELL	40000000	25.21

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Invitation Homes Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.077	0.328	-77%	0.487	-84%	0.550	-86%	0.582	-87%
Book Value Growth	-	-	0.006	0.020	-69%	0.032	-81%	0.038	-83%	0.033	-81%
Book Value Per Share	-	-	16.888	16.859	+0%	14.447	+17%	14.450	+17%	11.261	+50%
Book Value Per Share Growth	-	-	0.005	0.019	-77%	0.032	-86%	0.037	-88%	0.033	-86%
Current Ratio	-	-	53.408	45.700	+17%	2.989	+1687%	10.946	+388%	7.967	+570%
Debt To Asset Ratio	-	-	0.446	0.445	+0%	0.501	-11%	0.511	-13%	0.581	-23%
Debt To Equity Ratio	-	-	0.808	0.806	+0%	1.010	-20%	1.067	-24%	1.707	-53%
Dividend Per Share	-	-	0.220	0.207	+6%	0.154	+43%	0.136	+62%	0.144	+53%
Dividend Per Share Growth	-	-	-0.005	0.069	-107%	0.036	-113%	0.067	-107%	-0.451	+9362%
Eps	-	-	0.129	0.146	-12%	0.105	+23%	0.074	+74%	0.016	+702%
Eps Growth	-	-	-0.405	0.007	-5996%	0.121	-434%	0.959	-142%	1.200	-134%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Net Profit Margin	-	-	0.000	0.129	-100%	0.133	-100%	0.075	-100%	0.011	-102%
Operating Margin	-	-	0.134	0.269	-50%	0.308	-56%	0.264	-49%	0.234	-43%
Operating Ratio	-	-	0.885	0.751	+18%	0.731	+21%	0.766	+16%	0.820	+8%
Pb Ratio	1.916	-4%	2.000	2.297	-13%	2.374	-16%	2.035	-2%	1.787	+12%
Pe Ratio	250.851	-4%	261.781	274.065	-4%	329.087	-20%	1093.188	-76%	806.208	-68%
Peg Ratio	-	-	-647.160	1767.860	-137%	2332.027	-128%	-58.975	-91%	-34.066	-95%
Price Per Share	32.360	-4%	33.770	38.718	-13%	34.328	-2%	29.608	+14%	22.699	+49%
Price To Total Gains Ratio	109.133	-4%	113.888	148.486	-23%	116.637	-2%	253.373	-55%	306.149	-63%
Profit Growth	-	-	-75585.034	-18885.447	-75%	12.069	-626399%	-3689.921	-95%	-2581.577	-97%
Quick Ratio	-	-	106.020	125.639	-16%	1.426	+7336%	26.150	+305%	18.368	+477%
Return On Assets	-	-	0.000	0.004	-100%	0.004	-100%	0.002	-100%	0.000	+2193%
Return On Equity	-	-	0.000	0.007	-100%	0.007	-100%	0.004	-100%	-0.004	+24843%
Revenue Growth	-	-	0.020	0.027	-26%	0.026	-22%	0.039	-48%	-0.041	+305%
Total Gains Per Share	-	-	0.297	0.535	-45%	0.641	-54%	0.686	-57%	0.726	-59%
Total Gains Per Share Growth	-	-	0.630	-1.206	+291%	-0.041	+107%	-6.553	+1140%	-19.209	+3148%
Usd Book Value	-	-	10346349000.000	10314169000.000	+0%	8832838500.000	+17%	8836350750.000	+17%	6885952551.724	+50%
Usd Book Value Change Per Share	-	-	0.077	0.328	-77%	0.487	-84%	0.550	-86%	0.582	-87%
Usd Book Value Per Share	-	-	16.888	16.859	+0%	14.447	+17%	14.450	+17%	11.261	+50%
Usd Dividend Per Share	-	-	0.220	0.207	+6%	0.154	+43%	0.136	+62%	0.144	+53%
Usd Eps	-	-	0.129	0.146	-12%	0.105	+23%	0.074	+74%	0.016	+702%
Usd Price Per Share	32.360	-4%	33.770	38.718	-13%	34.328	-2%	29.608	+14%	22.699	+49%
Usd Profit	-	-	-147000.000	69493500.000	-100%	64395250.000	-100%	37781950.000	-100%	10676724.138	-101%
Usd Revenue	-	-	568675000.000	544627500.000	+4%	485122500.000	+17%	464766450.000	+22%	407511206.897	+40%
Usd Total Gains Per Share	-	-	0.297	0.535	-45%	0.641	-54%	0.686	-57%	0.726	-59%
	EOD	+3 -2	MRQ	TTM	+12 -23	YOY	+17 -18	5Y	+17 -18	10Y	+20 -15

4.2. Fundamental Score

Let's check the fundamental score of Invitation Homes Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	250.851
Price to Book Ratio (EOD)	Between	0-1	1.916
Net Profit Margin (MRQ)	Greater than	0	0.000
Operating Margin (MRQ)	Greater than	0	0.134
Quick Ratio (MRQ)	Greater than	1	106.020
Current Ratio (MRQ)	Greater than	1	53.408
Debt to Asset Ratio (MRQ)	Less than	1	0.446
Debt to Equity Ratio (MRQ)	Less than	1	0.808
Return on Equity (MRQ)	Greater than	0.15	0.000
Return on Assets (MRQ)	Greater than	0.05	0.000
Total			5/10 (50.0%)

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4.3. Technical Score

Let's check the technical score of Invitation Homes Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	53.354
Ma 20	Greater than	Ma 50	31.377
Ma 50	Greater than	Ma 100	32.372
Ma 100	Greater than	Ma 200	34.895
Open	Greater than	Close	31.990
Total			1/5 (20.0%)

Create your own Symbol Scanner

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Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

	2021-09-30		2021-12-31		2022-03-31		2022-06-30		2022-09-30
Income before Tax	69,495	5,376	74,871	18,132	93,003	18,502	111,505	-111,652	-147
Minority Interest	-318	-10	-328	-60	-388	-154	-542	792	250
Net Income	69,177	5,366	74,543	18,072	92,615	18,348	110,963	-111,110	-147

Latest Balance Sheet

Balance Sheet of 2022-09-30. Currency in USD. All numbers in thousands.

Summary

Total Assets	18,678,414
Total Liabilities	8,332,065
Total Stockholder Equity	10,315,126

	As reported
Total Liabilities	8,332,065
Total Stockholder Equity	+ 10,315,126
Total Assets	= 18,678,414

Assets

Total Assets	18,678,414
Total Current Assets	17,409,275
Long-term Assets	17,409,275

Total Current Assets

Total Current Assets (as reported)	17,409,275
Cash And Cash Equivalents	300,312
Short-term Investments	17,108,963
Net Receivables	40,768
Total Current Assets (calculated)	17,450,043
+/-	40,768

Long-term Assets

Long-term Assets (as reported)	545,104
Property Plant Equipment	17,108,963
Goodwill	258,207
Long Term Investments	286,897
Long-term Assets Other	508,451
Long-term Assets (calculated)	18,162,518
+/-	17,617,414

Liabilities & Shareholders' Equity

Total Current Liabilities	325,967
Long-term Liabilities	8,006,098
Total Stockholder Equity	10,315,126

Total Current Liabilities

Total Current Liabilities (as reported)	325,967
Short-term Debt	173,280
Accounts payable	325,967
Total Current Liabilities (calculated)	499,247
+/-	173,280

Long-term Liabilities

Long-term Liabilities (as reported)	8,006,098
Long term Debt Total	7,753,031
Other Liabilities	253,067
Long-term Liabilities (calculated)	8,006,098
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	10,315,126
Common Stock	6,114
Retained Earnings	-916,138
Accumulated Other Comprehensive Income	91,892
Capital Surplus	11,133,258
Total Stockholder Equity (calculated)	10,315,126
+/-	0

Other

Capital Stock	6,114
Cash and Short Term Investments	17,409,275
Common Stock Shares Outstanding	612,648
Common Stock Total Equity	6,114
Liabilities and Stockholders Equity	18,647,191
Net Debt	-300,312
Net Invested Capital	18,068,157
Net Tangible Assets	10,056,919
Net Working Capital	189,929
Minority Interest	31,223

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2014-12-31

> Total Assets

9,199,653
9,796,978
0
0
9,910,433
9,732,351
9,588,161
9,519,326
9,524,524
18,683,638
18,696,445
18,665,362
18,476,648
18,063,428
17,853,619
17,714,153
17,660,018
17,392,910
17,593,345
17,746,316
17,750,787
17,506,222
17,490,419
17,484,611
18,250,566
18,506,984
18,678,414
18,506,984
18,678,414

18,678,414

18,506,984

18,678,414

18,506,984

18,250,566

17,484,611

17,490,419

17,506,222

17,750,787

17,746,316

17,593,345

17,392,910

17,660,018

17,714,153

17,853,619

18,063,428

18,476,648

18,665,362

18,696,445

18,683,638

9,524,524

9,519,326

9,588,161

9,732,351

9,910,433

9,796,978

9,199,653

> Total Current Assets

603,841
531,054
0
0
551,249
500,020
419,353
343,654
335,790
538,368
564,904
548,275
766,441
579,165
578,389
544,002
741,198
461,472
689,997
938,775
929,392
535,386
525,456
484,163
959,364
17,397,893
17,409,275
680,249
17,409,275

17,409,275

680,249

17,409,275

17,397,893

959,364

484,163

525,456

535,386

929,392

938,775

689,997

461,472

741,198

544,002

578,389

579,165

766,441

548,275

564,904

538,368

335,790

343,654

419,353

500,020

551,249

531,054

603,841

Cash And Cash Equivalents

285,596
274,818
0
0
274,140
198,119
192,450
158,934
134,441
179,878
134,893
166,874
130,037
144,940
130,896
77,046
81,531
92,258
297,060
571,719
559,567
213,422
187,310
126,168
569,663
272,708
300,312
272,708
300,312

300,312

272,708

300,312

272,708

569,663

126,168

187,310

213,422

559,567

571,719

297,060

92,258

81,531

77,046

130,896

144,940

130,037

166,874

134,893

179,878

134,441

158,934

192,450

198,119

274,140

274,818

285,596

Short-term Investments

276,119
219,174
0
0
272,690
222,092
144,169
138,264
153,781
236,684
255,855
243,048
253,603
0
0
0
0
0
0
0
0
0
0
0
0
17,125,185
17,108,963
17,125,185
17,108,963

17,108,963

17,125,185

17,108,963

17,125,185

253,603

243,048

255,855

236,684

153,781

138,264

144,169

222,092

272,690

219,174

276,119

Net Receivables

5,577
8,846
0
0
0
11,604
11,781
9,847
11,986
24,525
28,686
26,388
36,114
33,117
33,534
29,457
28,752
25,244
25,048
31,644
36,540
35,256
36,455
37,966
37,118
37,473
37,397
37,170
40,768

40,768

37,170

37,397

37,473

37,118

37,966

36,455

35,256

36,540

31,644

25,048

25,244

28,752

29,457

33,534

33,117

36,114

26,388

28,686

24,525

11,986

9,847

11,781

11,604

8,846

5,577

Other Current Assets

19,296
247,390
0
0
277,109
290,297
215,122
174,873
189,363
333,965
401,325
355,013
600,290
401,108
413,959
437,499
630,915
343,970
367,889
335,412
333,285
286,708
301,691
320,029
352,583
332,445
356,841
-16,754,814
215,584

215,584

-16,754,814

356,841

332,445

352,583

320,029

301,691

286,708

333,285

335,412

367,889

343,970

630,915

437,499

413,959

401,108

600,290

355,013

401,325

333,965

189,363

174,873

215,122

290,297

277,109

247,390

19,296

> Long-term Assets

0
9,265,924
0
0
9,359,184
9,232,331
9,168,808
9,175,672
9,188,734
18,145,270
18,131,541
18,117,087
17,710,207
17,484,263
17,275,230
17,170,151
16,918,820
16,931,438
16,903,348
16,807,541
16,821,395
16,970,836
16,964,963
17,000,448
17,291,202
502,937
545,104
17,826,735
545,104

545,104

17,826,735

545,104

502,937

17,291,202

17,000,448

16,964,963

16,970,836

16,821,395

16,807,541

16,903,348

16,931,438

16,918,820

17,170,151

17,275,230

17,484,263

17,710,207

18,117,087

18,131,541

18,145,270

9,188,734

9,175,672

9,168,808

9,232,331

9,359,184

9,265,924

Property Plant Equipment

9,521
6,980
0
0
6,679
6,247
5,612
6,001
6,522
16,595
15,415
17,980
12,254
11,792
26,632
26,861
25,364
23,593
29,976
32,201
30,319
31,700
29,757
29,232
31,449
33,570
32,777
33,050
17,108,963

17,108,963

33,050

32,777

33,570

31,449

29,232

29,757

31,700

30,319

32,201

29,976

23,593

25,364

26,861

26,632

11,792

12,254

17,980

15,415

16,595

6,522

6,001

5,612

6,247

6,679

6,980

9,521

Goodwill

0
0
0
0
0
0
0
0
0
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207
258,207

258,207

Long Term Investments

74,469
193,045
0
0
0
209,337
0
0
0
435,623
481,291
540,204
449,527
423,221
414,684
387,114
382,490
371,769
382,903
381,266
379,612
69,267
73,849
77,523
93,096
130,395
162,433
244,730
286,897

286,897

244,730

162,433

130,395

93,096

77,523

73,849

69,267

379,612

381,266

382,903

371,769

382,490

387,114

414,684

423,221

449,527

540,204

481,291

435,623

209,337

193,045

74,469

Intangible Assets

829
0
0
0
0
0
0
0
0
37,517
21,070
4,624
258,207
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

258,207

4,624

21,070

37,517

829

Long-term Assets Other

0
9,065,899
0
0
9,359,184
9,016,747
8,953,810
8,939,173
8,951,593
17,397,328
17,355,558
17,296,072
16,990,219
16,791,043
16,575,707
16,497,969
16,252,759
16,277,869
16,232,262
16,135,867
16,153,257
16,319,236
16,313,793
16,369,331
16,683,123
16,962,080
17,053,622
17,155,771
508,451

508,451

17,155,771

17,053,622

16,962,080

16,683,123

16,369,331

16,313,793

16,319,236

16,153,257

16,135,867

16,232,262

16,277,869

16,252,759

16,497,969

16,575,707

16,791,043

16,990,219

17,296,072

17,355,558

17,397,328

8,951,593

8,939,173

8,953,810

9,016,747

9,359,184

9,065,899

> Total Liabilities

6,743,052
7,909,947
0
0
7,923,967
7,774,928
5,930,119
5,875,355
5,922,511
10,033,763
10,059,548
10,081,785
9,912,000
9,694,242
9,632,251
9,676,685
9,483,507
9,126,832
9,635,218
9,402,443
9,419,410
8,950,149
8,858,059
8,864,935
8,727,321
8,224,995
8,332,065
8,224,995
8,332,065

8,332,065

8,224,995

8,332,065

8,224,995

8,727,321

8,864,935

8,858,059

8,950,149

9,419,410

9,402,443

9,635,218

9,126,832

9,483,507

9,676,685

9,632,251

9,694,242

9,912,000

10,081,785

10,059,548

10,033,763

5,922,511

5,875,355

5,930,119

7,774,928

7,923,967

7,909,947

6,743,052

> Total Current Liabilities

278,630
2,430,558
0
0
2,544,202
2,403,593
101,347
110,919
160,674
193,413
199,317
221,535
275,203
169,603
3,232,597
1,951,030
1,712,596
2,348,397
2,324,990
190,344
261,355
149,299
180,423
217,394
297,073
237,915
325,967
237,915
325,967

325,967

237,915

325,967

237,915

297,073

217,394

180,423

149,299

261,355

190,344

2,324,990

2,348,397

1,712,596

1,951,030

3,232,597

169,603

275,203

221,535

199,317

193,413

160,674

110,919

101,347

2,403,593

2,544,202

2,430,558

278,630

Short-term Debt

6,564,643
2,347,741
0
0
2,407,364
2,315,541
87,792
88,781
88,976
35,000
15,000
152,075
151,305
148,995
3,039,102
1,723,047
1,434,324
2,162,287
270,000
2,133,355
155,871
2,133,355
160,205
162,225
163,663
165,167
168,008
171,413
173,280

173,280

171,413

168,008

165,167

163,663

162,225

160,205

2,133,355

155,871

2,133,355

270,000

2,162,287

1,434,324

1,723,047

3,039,102

148,995

151,305

152,075

15,000

35,000

88,976

88,781

87,792

2,315,541

2,407,364

2,347,741

6,564,643

Short Long Term Debt

6,564,643
7,725,957
0
0
0
8,683
5,714,391
5,655,067
8,068
9,651,662
9,668,850
12,503
2,096
90,967
3,039,102
1,723,047
1,434,324
2,162,287
2,144,768
2,133,355
0
0
0
0
0
0
0
0
0

2,133,355

2,144,768

2,162,287

1,434,324

1,723,047

3,039,102

90,967

2,096

12,503

9,668,850

9,651,662

8,068

5,655,067

5,714,391

8,683

7,725,957

6,564,643

Accounts payable

92,034
82,817
0
0
136,838
88,052
101,347
110,919
160,674
193,413
199,317
221,535
275,203
169,603
193,495
227,983
278,272
186,110
180,222
190,344
261,355
149,299
180,423
217,394
297,073
237,915
325,967
237,915
325,967

325,967

237,915

325,967

237,915

297,073

217,394

180,423

149,299

261,355

190,344

180,222

186,110

278,272

227,983

193,495

169,603

275,203

221,535

199,317

193,413

160,674

110,919

101,347

88,052

136,838

82,817

92,034

Other Current Liabilities

0
82,817
0
0
136,838
88,052
101,347
110,919
160,674
158,413
184,317
221,535
275,203
169,603
193,495
227,983
278,272
186,110
2,054,990
-1,943,011
261,355
149,299
180,423
217,394
297,073
193,633
175,553
237,915
0

237,915

175,553

193,633

297,073

217,394

180,423

149,299

261,355

-1,943,011

2,054,990

186,110

278,272

227,983

193,495

169,603

275,203

221,535

184,317

158,413

160,674

110,919

101,347

88,052

136,838

82,817

> Long-term Liabilities

0
5,479,389
0
0
5,379,765
5,371,335
5,828,772
5,764,436
5,761,837
9,840,350
9,860,231
9,860,250
9,636,797
9,524,639
6,399,654
7,725,655
7,770,911
6,778,435
7,310,228
9,212,099
9,158,055
8,800,850
8,677,636
8,647,541
8,430,248
7,987,080
8,006,098
7,987,080
8,006,098

8,006,098

7,987,080

8,006,098

7,987,080

8,430,248

8,647,541

8,677,636

8,800,850

9,158,055

9,212,099

7,310,228

6,778,435

7,770,911

7,725,655

6,399,654

9,524,639

9,636,797

9,860,250

9,860,231

9,840,350

5,761,837

5,764,436

5,828,772

5,371,335

5,379,765

5,479,389

Long term Debt Total

0
0
0
0
0
0
5,714,391
5,645,195
5,644,275
9,616,662
9,653,850
9,662,765
9,454,919
9,249,815
9,082,056
8,966,111
8,657,045
8,468,049
8,644,941
8,351,572
8,330,045
8,031,504
8,022,682
8,014,437
7,813,137
7,998,659
7,855,608
7,753,931
7,753,031

7,753,031

7,753,931

7,855,608

7,998,659

7,813,137

8,014,437

8,022,682

8,031,504

8,330,045

8,351,572

8,644,941

8,468,049

8,657,045

8,966,111

9,082,056

9,249,815

9,454,919

9,662,765

9,653,850

9,616,662

5,644,275

5,645,195

5,714,391

Long-term Liabilities Other

0
0
0
0
0
0
26,589
30,460
28,586
41,999
41,179
45,410
30,573
125,829
357,831
483,737
549,342
473,237
816,191
860,527
672,139
611,410
494,749
633,104
617,111
506,750
287,929
233,149
79,787

79,787

233,149

287,929

506,750

617,111

633,104

494,749

611,410

672,139

860,527

816,191

473,237

549,342

483,737

357,831

125,829

30,573

45,410

41,179

41,999

28,586

30,460

26,589

Deferred Long Term Liability

15,071
9,102
0
0
0
7,710
0
0
0
14,522
14,269
12,818
12,720
7,326
10,780
10,874
10,767
10,192
9,658
9,381
8,972
19,268
17,856
17,061
16,250
14,588
12,721
10,364
8,223

8,223

10,364

12,721

14,588

16,250

17,061

17,856

19,268

8,972

9,381

9,658

10,192

10,767

10,874

10,780

7,326

12,720

12,818

14,269

14,522

7,710

9,102

15,071

> Total Stockholder Equity

2,456,601
1,887,031
0
0
1,986,466
1,957,423
3,658,042
3,643,971
3,602,013
8,498,085
8,491,936
8,439,660
8,421,128
8,229,111
8,139,916
7,957,679
8,097,260
8,214,422
7,908,243
8,293,764
8,280,868
8,504,825
8,580,113
8,580,039
9,482,980
10,238,690
10,315,126
10,238,690
10,315,126

10,315,126

10,238,690

10,315,126

10,238,690

9,482,980

8,580,039

8,580,113

8,504,825

8,280,868

8,293,764

7,908,243

8,214,422

8,097,260

7,957,679

8,139,916

8,229,111

8,421,128

8,439,660

8,491,936

8,498,085

3,602,013

3,643,971

3,658,042

1,957,423

1,986,466

1,887,031

2,456,601

Common Stock

2,456,601
1,887,031
0
0
0
1,957,423
3,104
3,104
3,114
5,192
5,204
5,205
5,206
5,206
5,250
5,251
5,384
5,416
5,438
5,605
5,605
5,671
5,677
5,687
5,949
6,104
6,114
6,104
6,114

6,114

6,104

6,114

6,104

5,949

5,687

5,677

5,671

5,605

5,438

5,416

5,384

5,251

5,250

5,206

5,205

5,204

5,192

3,114

3,104

1,957,423

1,887,031

2,456,601

Retained Earnings Total Equity

-916,138

-860,275

-836,494

-794,869

-767,232

-737,444

-700,728

-661,162

-646,950

-595,318

-556,305

-524,588

-505,887

-469,129

-439,737

-392,594

-360,344

-303,801

-232,296

-157,595

-86,450

-38,799

-25,512

Accumulated Other Comprehensive Income

0
0
0
0
0
0
13,272
4,572
8,167
47,885
106,918
118,954
151,886
-12,963
-110,655
-265,370
-340,724
-276,600
-607,402
-632,148
-598,966
-546,942
-429,958
-413,684
-378,428
-20,285
91,892
-20,285
91,892

91,892

-20,285

91,892

-20,285

-378,428

-413,684

-429,958

-546,942

-598,966

-632,148

-607,402

-276,600

-340,724

-265,370

-110,655

-12,963

151,886

118,954

106,918

47,885

8,167

4,572

13,272

Capital Surplus

0
0
0
0
0
0
3,667,178
3,675,094
3,677,182
8,602,603
8,612,110
8,619,302
8,624,380
8,629,462
8,685,058
8,686,927
8,938,487
9,010,194
9,066,512
9,515,625
9,521,179
9,707,258
9,705,122
9,725,480
10,622,691
10,873,539
11,093,786
11,113,146
11,133,258

11,133,258

11,113,146

11,093,786

10,873,539

10,622,691

9,725,480

9,705,122

9,707,258

9,521,179

9,515,625

9,066,512

9,010,194

8,938,487

8,686,927

8,685,058

8,629,462

8,624,380

8,619,302

8,612,110

8,602,603

3,677,182

3,675,094

3,667,178

Treasury Stock

Other Stockholders Equity

0
1,887,031
0
0
1,986,466
1,957,423
3,667,178
3,675,094
3,677,182
8,602,603
8,612,110
8,619,302
8,624,380
8,629,462
8,685,058
8,686,927
8,938,487
9,010,194
9,066,512
9,515,625
9,521,179
9,707,258
9,705,122
9,725,480
10,622,691
11,113,146
11,133,258
11,113,146
11,133,258

11,133,258

11,113,146

11,133,258

11,113,146

10,622,691

9,725,480

9,705,122

9,707,258

9,521,179

9,515,625

9,066,512

9,010,194

8,938,487

8,686,927

8,685,058

8,629,462

8,624,380

8,619,302

8,612,110

8,602,603

3,677,182

3,675,094

3,667,178

1,957,423

1,986,466

1,887,031

Balance Sheet

Currency in USD. All numbers in thousands.

	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Accounts Payable	193,633	149,299	186,110	169,603	193,413	88,052	80,858	92,034
Accumulated Other Comprehensive Income	-286,938	-546,942	-276,600	-12,963	47,885	-	-	-
Additional Paid In Capital	-	-	-	-	0	-	-	-
Capital Stock	6,010	5,671	5,416	5,206	-	-	-	-
Capital Surpluse	10,873,539	9,707,258	9,010,194	8,629,462	8,602,603	1,957,423	1,887,031	-
Cash	610,166	213,422	92,258	144,940	179,878	198,119	274,818	285,596
Cash And Short Term Investments	610,166	213,422	92,258	144,940	179,878	198,119	274,818	285,596
Common Stock	6,010	5,671	5,416	5,206	5,192	1,957,423	1,887,031	2,456,601
Common Stock Shares Outstanding	579,210	555,459	532,500	520,377	519,173	302,117	302,117	302,117
Common Stock Total Equity	6,010	5,671	5,416	5,206	5,192	-	-	-
Deferred Long Term Liab	14,588	19,268	10,192	11,450	19,616	7,710	9,102	15,071
Good Will	258,207	258,207	258,207	258,207	258,207	-	-	-
Intangible Assets	-	-	-	-	37,517	-	-	829
Inventory	-	-	-	-	0	-	-	-
Liabilities And Stockholders Equity	18,496,784	17,454,974	17,341,254	17,923,353	18,531,848	9,732,351	9,796,978	9,199,653
Long Term Debt	7,998,659	8,031,504	6,305,198	9,249,815	9,651,662	7,570,279	7,725,957	4,444,318
Long Term Debt Total	7,998,659	8,031,504	8,468,049	9,249,815	9,651,662	7,570,279	7,725,957	-
Long Term Investments	130,395	69,267	371,769	423,221	435,623	209,337	193,045	74,469
Net Debt	7,388,493	7,818,082	8,375,227	9,104,875	9,506,784	7,372,160	7,451,139	6,279,047
Net Invested Capital	17,796,401	16,536,329	16,681,907	17,478,926	18,149,747	-	-	-
Net Receivables	37,473	35,256	25,244	33,117	24,525	11,604	8,846	5,577
Net Tangible Assets	9,539,535	8,246,618	7,956,215	7,970,904	8,202,361	1,957,423	1,887,031	2,455,772
Net Working Capital	625,225	386,087	-1,886,925	409,562	344,955	-	-	-
Non Current Assets Total	17,557,762	16,970,836	16,931,438	17,484,263	18,145,270	9,232,331	9,265,924	8,595,812
Non Current Liabilities Other	506,750	611,410	473,237	274,824	188,688	116,597	-	-
Non Current Liabilities Total	8,505,409	8,800,850	6,778,435	9,524,639	9,840,350	5,371,335	5,479,389	3,260,288
Non Currrent Assets Other	16,962,080	16,319,236	16,277,869	16,791,043	17,397,328	9,016,747	9,065,899	8,510,993
Noncontrolling Interest In Consolidated Entity	41,062	51,248	51,656	140,075	151,790	-	-	-
Other Assets	1,250,565	17,034,593	16,384	29,578	32,546	14,232	256,492	39,693
Other Current Assets	332,445	286,708	343,970	401,108	333,965	290,297	247,390	312,668
Other Current Liab	193,633	149,299	186,110	169,603	158,413	88,052	82,817	92,034
Other Liab	165,167	769,346	182,561	183,857	188,688	107,914	81,169	86,375
Other Stockholder Equity	10,873,539	9,707,258	9,010,194	8,629,462	8,602,603	1,957,423	1,887,031	2,456,601
Preferred Stock Total Equity	-	-	-	-	0	1,130	1,130	1,130
Property Plant And Equipment Gross	-	31,700	23,593	11,792	16,595	6,247	6,980	9,521
Property Plant And Equipment Net	33,570	31,700	23,593	11,792	16,595	6,247	6,980	9,521
Property Plant Equipment	16,935,322	16,288,693	16,266,785	16,697,852	17,328,859	9,008,762	9,059,681	9,521
Retained Earnings	-794,869	-661,162	-524,588	-392,594	-157,595	-	-	-
Retained Earnings Total Equity	-794,869	-661,162	-524,588	-392,594	-157,595	-	-	-
Short Long Term Debt	-	-	2,162,287	90,967	9,651,662	8,683	7,725,957	6,564,643
Short Long Term Debt Total	7,998,659	8,031,504	8,467,485	9,249,815	9,686,662	7,570,279	7,725,957	6,564,643
Short Term Debt	165,167	2,162,287	2,162,287	90,967	35,000	2,315,541	2,347,741	3,390,730
Short Term Investments	16,935,322	-	-	-	236,684	222,092	219,174	276,119
Temporary Equity Redeemable Noncontrolling Interests	-	-	-	-	0	-	-	-
Total Assets	18,537,846	17,506,222	17,392,910	18,063,428	18,683,638	9,732,351	9,796,978	9,199,653
Total Current Assets	980,084	535,386	461,472	579,165	538,368	500,020	531,054	603,841
Total Current Liabilities	193,633	149,299	2,348,397	169,603	193,413	2,403,593	2,430,558	3,482,764
Total Liab	8,699,042	8,950,149	9,126,832	9,694,242	10,033,763	7,774,928	7,909,947	6,743,052
Total Permanent Equity	-	-	-	-	1,951,407	-	-	-
Total Stockholder Equity	9,797,742	8,504,825	8,214,422	8,229,111	8,498,085	1,957,423	1,887,031	2,456,601
Treasury Stock	-	-	-	-	0	-	-	-

	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2014-12-31
Accounts Payable	325,967	237,915	325,967	237,915	297,073	217,394	180,423	149,299	261,355	190,344	180,222	186,110	278,272	227,983	193,495	169,603	275,203	221,535	199,317	193,413	160,674	110,919	101,347	88,052	136,838	-	-	82,817	92,034
Accumulated Other Comprehensive Income	91,892	-20,285	91,892	-20,285	-378,428	-413,684	-429,958	-546,942	-598,966	-632,148	-607,402	-276,600	-340,724	-265,370	-110,655	-12,963	151,886	118,954	106,918	47,885	8,167	4,572	13,272	-	-	-	-	-	-
Additional Paid In Capital	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,624,380	8,619,302	8,612,110	0	0	0	0	-	-	-	-	-	-
Capital Stock	6,114	6,104	6,098	6,010	5,949	5,687	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital Surpluse	11,133,258	11,113,146	11,093,786	10,873,539	10,622,691	9,725,480	9,705,122	9,707,258	9,521,179	9,515,625	9,066,512	9,010,194	8,938,487	8,686,927	8,685,058	8,629,462	8,624,380	8,619,302	8,612,110	8,602,603	3,677,182	3,675,094	3,667,178	-	-	-	-	-	-
Cash	300,312	272,708	300,312	272,708	569,663	126,168	187,310	213,422	559,567	571,719	297,060	92,258	81,531	77,046	130,896	144,940	130,037	166,874	134,893	179,878	134,441	158,934	192,450	198,119	274,140	-	-	274,818	285,596
Cash And Short Term Investments	17,409,275	17,397,893	17,409,275	17,397,893	569,663	126,168	187,310	213,422	559,567	571,719	297,060	92,258	81,531	77,046	130,896	144,940	130,037	166,874	134,893	179,878	134,441	158,934	192,450	198,119	274,140	-	-	274,818	-
Common Stock	6,114	6,104	6,114	6,104	5,949	5,687	5,677	5,671	5,605	5,605	5,438	5,416	5,384	5,251	5,250	5,206	5,206	5,205	5,204	5,192	3,114	3,104	3,104	1,957,423	-	-	-	1,887,031	2,456,601
Common Stock Shares Outstanding	612,648	611,620	607,908	599,827	578,571	569,283	568,826	565,541	561,871	549,920	543,904	541,505	538,645	525,934	521,817	520,844	521,761	520,509	519,661	519,661	311,560	312,272	311,948	302,117	302,117	302,117	302,117	302,117	-
Common Stock Total Equity	6,114	6,104	6,098	6,010	5,949	5,687	5,677	5,671	5,605	5,605	5,438	5,416	5,384	5,251	5,250	5,206	5,206	5,205	5,204	5,192	3,114	3,104	3,104	-	-	-	-	-	-
Deferred Long Term Liab	8,223	10,364	12,721	14,588	16,250	17,061	17,856	19,268	8,972	9,381	9,658	10,192	10,767	10,874	10,780	7,326	12,720	12,818	14,269	14,522	0	0	0	7,710	-	-	-	9,102	15,071
Good Will	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	258,207	0	0	0	-	-	-	-	-	-
Intangible Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258,207	4,624	21,070	37,517	0	0	0	-	-	-	-	-	829
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	-	-	-	-	-	-
Liabilities And Stockholders Equity	18,647,191	18,463,685	18,647,191	18,463,685	18,210,301	17,444,974	17,438,172	17,454,974	17,700,278	17,696,207	17,543,461	17,341,254	17,580,767	17,634,364	17,772,167	17,923,353	18,333,128	18,521,445	18,551,484	18,531,848	9,524,524	9,519,326	9,588,161	9,732,351	9,910,433	-	-	9,796,978	-
Long Term Debt	7,753,031	7,753,931	7,855,608	7,998,659	7,813,137	8,014,437	8,022,682	8,031,504	8,330,045	6,218,217	6,494,037	6,305,198	7,221,569	7,241,918	9,080,925	9,249,815	9,454,919	9,662,765	9,653,850	9,616,662	5,644,275	5,645,195	5,714,391	522,062	1,507,385	-	-	5,294,362	4,444,318
Long Term Debt Total	7,753,031	7,753,931	7,855,608	7,998,659	7,813,137	8,014,437	8,022,682	8,031,504	8,330,045	8,351,572	8,644,941	8,468,049	8,657,045	8,966,111	9,082,056	9,249,815	9,454,919	9,662,765	9,653,850	9,616,662	5,644,275	5,645,195	5,714,391	-	-	-	-	-	-
Long Term Investments	286,897	244,730	162,433	130,395	93,096	77,523	73,849	69,267	379,612	381,266	382,903	371,769	382,490	387,114	414,684	423,221	449,527	540,204	481,291	435,623	-	-	-	209,337	-	-	-	193,045	74,469
Net Debt	-300,312	7,481,223	-300,312	-272,708	7,243,474	7,888,269	7,835,372	7,818,082	7,770,478	9,913,208	6,466,977	8,375,227	8,574,362	8,887,919	8,950,029	9,104,875	9,324,882	9,495,891	9,548,957	9,506,784	5,509,834	5,486,261	5,521,941	7,372,160	7,406,816	-	-	7,451,139	-
Net Invested Capital	18,068,157	17,992,621	18,038,464	17,796,401	17,296,117	16,594,476	16,602,795	16,536,329	16,610,913	16,645,336	16,547,048	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Receivables	40,768	37,170	37,397	37,473	37,118	37,966	36,455	35,256	36,540	31,644	25,048	25,244	28,752	29,457	33,534	33,117	36,114	26,388	28,686	24,525	11,986	9,847	11,781	11,604	-	-	-	8,846	5,577
Net Tangible Assets	10,056,919	9,980,483	9,924,649	9,539,535	9,224,773	8,321,832	8,321,906	8,246,618	8,022,661	8,035,557	7,650,036	7,956,215	7,839,053	7,699,472	7,881,709	7,970,904	8,162,921	8,181,453	8,233,729	8,239,878	3,602,013	3,643,971	3,658,042	1,957,423	-	-	-	1,887,031	2,455,772
Net Working Capital	189,929	241,681	507,596	625,225	524,077	150,750	345,033	386,087	668,037	-1,384,924	-1,634,993	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non Current Assets Total	545,104	17,826,735	545,104	502,937	17,291,202	17,000,448	16,964,963	16,970,836	16,821,395	16,807,541	16,903,348	16,931,438	16,918,820	17,170,151	17,275,230	17,484,263	17,710,207	18,117,087	18,131,541	18,145,270	9,188,734	9,175,672	9,168,808	9,232,331	9,359,184	-	-	9,265,924	-
Non Current Liabilities Other	79,787	233,149	287,929	506,750	617,111	633,104	494,749	611,410	672,139	860,527	816,191	473,237	549,342	483,737	357,831	125,829	30,573	45,410	41,179	41,999	28,586	30,460	26,589	-	-	-	-	-	-
Non Current Liabilities Total	8,006,098	7,987,080	8,006,098	7,987,080	8,430,248	8,647,541	8,677,636	8,800,850	9,158,055	9,212,099	7,310,228	6,778,435	7,770,911	7,725,655	6,399,654	9,524,639	9,636,797	9,860,250	9,860,231	9,840,350	5,761,837	5,764,436	5,828,772	5,371,335	5,379,765	-	-	5,479,389	-
Non Currrent Assets Other	508,451	17,155,771	17,053,622	16,962,080	16,683,123	16,369,331	16,313,793	16,319,236	16,153,257	16,135,867	16,232,262	16,277,869	16,252,759	16,497,969	16,575,707	16,791,043	16,990,219	17,296,072	17,355,558	17,397,328	8,951,593	8,939,173	8,953,810	9,016,747	9,359,184	-	-	9,065,899	-
Noncontrolling Interest In Consolidated Entity	31,223	43,299	42,276	41,062	40,265	39,637	52,247	51,248	50,509	50,109	49,884	51,656	79,251	79,789	81,452	140,075	143,520	143,917	144,961	151,790	0	0	0	-	-	-	-	-	-
Other Assets	724,035	606,154	724,035	606,154	17,680,903	17,358,443	17,680,903	17,034,593	21,155	18,044	15,750	33,034	30,980	26,601	424,739	25,454	30,475	36,748	40,452	18,188,087	9,194,382	9,180,862	9,200,338	9,272,406	9,329,967	-	-	9,265,922	8,603,544
Other Current Assets	215,584	-16,754,814	356,841	332,445	352,583	320,029	301,691	286,708	333,285	335,412	367,889	343,970	630,915	437,499	413,959	401,108	600,290	355,013	401,325	333,965	189,363	174,873	215,122	290,297	277,109	-	-	247,390	19,296
Other Current Liab	-	237,915	175,553	193,633	297,073	217,394	180,423	149,299	261,355	-1,943,011	2,054,990	186,110	278,272	227,983	193,495	169,603	275,203	221,535	184,317	158,413	160,674	110,919	101,347	88,052	136,838	-	-	82,817	-
Other Liab	253,067	233,149	216,977	165,167	163,663	162,225	160,205	157,936	201,334	202,323	186,794	182,561	181,489	185,825	185,473	182,150	179,782	184,982	191,381	188,688	117,562	119,241	114,381	116,597	106,173	-	-	101,173	86,375
Other Stockholder Equity	11,133,258	11,113,146	11,133,258	11,113,146	10,622,691	9,725,480	9,705,122	9,707,258	9,521,179	9,515,625	9,066,512	9,010,194	8,938,487	8,686,927	8,685,058	8,629,462	8,624,380	8,619,302	8,612,110	8,602,603	3,677,182	3,675,094	3,667,178	1,957,423	1,986,466	-	-	1,887,031	-
Preferred Stock Total Equity	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	1,130	1,130	-	-	1,130	1,130
Property Plant And Equipment Gross	-	-	-	-	-	29,232	29,757	31,700	30,319	32,201	29,976	23,593	25,364	26,861	26,632	11,792	12,254	17,980	15,415	16,595	6,522	6,001	5,612	6,247	-	-	-	6,980	-
Property Plant And Equipment Net	-	33,050	32,777	33,570	31,449	29,232	29,757	31,700	30,319	32,201	29,976	23,593	25,364	26,861	26,632	11,792	12,254	17,980	15,415	16,595	6,522	6,001	5,612	6,247	-	-	-	6,980	-
Property Plant Equipment	17,108,963	17,125,185	17,025,640	16,935,322	16,653,447	16,333,324	16,285,049	16,288,693	16,132,101	16,149,938	16,246,466	16,266,785	16,244,065	16,490,388	16,536,508	16,686,060	16,802,352	17,122,086	17,199,979	17,312,264	8,921,243	8,915,560	8,926,716	6,247	6,679	-	-	6,980	9,521
Retained Earnings	-916,138	-860,275	-916,138	-860,275	-767,232	-737,444	-700,728	-661,162	-646,950	-595,318	-556,305	-524,588	-505,887	-469,129	-439,737	-392,594	-360,344	-303,801	-232,296	-157,595	-86,450	-38,799	-25,512	-	-	-	-	-	-
Retained Earnings Total Equity	-916,138	-860,275	-836,494	-794,869	-767,232	-737,444	-700,728	-661,162	-646,950	-595,318	-556,305	-524,588	-505,887	-469,129	-439,737	-392,594	-360,344	-303,801	-232,296	-157,595	-86,450	-38,799	-25,512	-	-	-	-	-	-
Short Long Term Debt	-	-	-	-	-	-	-	-	-	2,133,355	2,144,768	2,162,287	1,434,324	1,723,047	3,039,102	90,967	2,096	12,503	9,668,850	9,651,662	8,068	5,655,067	5,714,391	8,683	-	-	-	7,725,957	6,564,643
Short Long Term Debt Total	-	7,753,931	7,855,608	7,998,659	7,813,137	8,014,437	8,022,682	8,031,504	8,330,045	10,484,927	6,764,037	8,467,485	8,655,893	8,964,965	9,080,925	9,249,815	9,454,919	9,662,765	9,683,850	9,686,662	5,644,275	5,645,195	5,714,391	7,570,279	7,680,956	-	-	7,725,957	-
Short Term Debt	173,280	171,413	168,008	165,167	163,663	162,225	160,205	2,133,355	155,871	2,133,355	270,000	2,162,287	1,434,324	1,723,047	3,039,102	148,995	151,305	152,075	15,000	35,000	88,976	88,781	87,792	2,315,541	2,407,364	-	-	2,347,741	6,564,643
Short Term Investments	17,108,963	17,125,185	17,108,963	17,125,185	-	-	-	-	-	-	-	-	-	-	-	-	253,603	243,048	255,855	236,684	153,781	138,264	144,169	222,092	272,690	-	-	219,174	276,119
Temporary Equity Redeemable Noncontrolling Interests	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	-	-	-	-	-	-
Total Assets	18,678,414	18,506,984	18,678,414	18,506,984	18,250,566	17,484,611	17,490,419	17,506,222	17,750,787	17,746,316	17,593,345	17,392,910	17,660,018	17,714,153	17,853,619	18,063,428	18,476,648	18,665,362	18,696,445	18,683,638	9,524,524	9,519,326	9,588,161	9,732,351	9,910,433	-	-	9,796,978	9,199,653
Total Current Assets	17,409,275	680,249	17,409,275	17,397,893	959,364	484,163	525,456	535,386	929,392	938,775	689,997	461,472	741,198	544,002	578,389	579,165	766,441	548,275	564,904	538,368	335,790	343,654	419,353	500,020	551,249	-	-	531,054	603,841
Total Current Liabilities	325,967	237,915	325,967	237,915	297,073	217,394	180,423	149,299	261,355	190,344	2,324,990	2,348,397	1,712,596	1,951,030	3,232,597	169,603	275,203	221,535	199,317	193,413	160,674	110,919	101,347	2,403,593	2,544,202	-	-	2,430,558	278,630
Total Liab	8,332,065	8,224,995	8,332,065	8,224,995	8,727,321	8,864,935	8,858,059	8,950,149	9,419,410	9,402,443	9,635,218	9,126,832	9,483,507	9,676,685	9,632,251	9,694,242	9,912,000	10,081,785	10,059,548	10,033,763	5,922,511	5,875,355	5,930,119	7,774,928	7,923,967	-	-	7,909,947	6,743,052
Total Permanent Equity	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,564,648	8,583,577	8,636,897	1,951,407	0	0	0	-	-	-	-	-	-
Total Stockholder Equity	10,315,126	10,238,690	10,315,126	10,238,690	9,482,980	8,580,039	8,580,113	8,504,825	8,280,868	8,293,764	7,908,243	8,214,422	8,097,260	7,957,679	8,139,916	8,229,111	8,421,128	8,439,660	8,491,936	8,498,085	3,602,013	3,643,971	3,658,042	1,957,423	1,986,466	-	-	1,887,031	2,456,601
Treasury Stock	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	-	-	-	-	-	-

Cash Flow

Currency in USD. All numbers in thousands.

	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Begin Period Cash Flow	411,768	286,245	359,991	416,562	198,119	274,818	285,596	431,565
Capital Expenditures	162,832	172,284	212,071	192,575	65,144	49,793	51,804	60,963
Cash And Cash Equivalents Changes	407,090	125,523	-73,746	-56,571	-18,241	-	-	-
Cash Flows Other Operating	12,302	-27,863	-12,098	-11,777	-13,786	-	-	-
Change In Cash	407,090	125,523	-73,746	-56,571	-18,241	-76,699	-10,778	-145,969
Change In Working Capital	24,761	-46,054	-7,299	-46,767	-32,210	-6,271	-14,306	-24,653
Change To Account Receivables	-	-	-	-	0	-	-	-
Change To Inventory	-	-	-	-	0	-	-	-
Change To Liabilities	32,625	-18,191	4,799	-34,990	-10,294	6,936	-1,097	6,785
Change To Netincome	-11,548	-20,509	-68,624	4,907	51,954	2,480	31,897	35,333
Change To Operating Activities	-8,131	-19,014	-12,506	-20,124	-18,735	-7,279	-13,209	-31,438
Depreciation	592,135	552,530	533,719	560,541	309,578	267,681	250,239	215,808
Dividends Paid	-393,812	-332,151	-276,681	-230,072	-68,997	-136	-682,606	-787,598
End Period Cash Flow	818,858	411,768	286,245	359,991	179,878	198,119	274,818	285,596
Free Cash Flow	744,828	524,428	497,886	415,526	197,247	200,333	145,670	-12,512
Investments	-1,159,558	72,106	49,960	12,298	53,282	-255,037	-118,576	-74,469
Issuance Of Capital Stock	933,790	686,723	55,263	0	-	-	-	-
Net Borrowings	154,181	1,023,862	-596,570	-435,792	-1,876,146	-196,441	1,139,026	2,011,713
Net Income	261,425	196,212	145,463	-4,927	-105,337	-78,239	-160,208	-269,861
Other Cashflows From Financing Activities	2,285,875	2,754,122	865,737	4,448,861	3,419,373	171,469	3,365,506	4,029,322
Other Cashflows From Investing Activities	-12,134	239,549	695,778	352,846	667	5,718	-808,029	22,473
Other Non Cash Items	2,169	-23,066	-27,911	22,895	6,555	56,745	93,825	102,822
Sale Purchase Of Stock	931,683	684,586	52,189	-4,020	-1,153	138,002	246,792	557,381
Total Cash From Financing Activities	658,988	-146,033	-838,102	-680,805	-331,312	-71,788	651,581	1,705,277
Total Cash From Operating Activities	907,660	696,712	662,130	561,241	259,789	250,126	197,474	48,451
Total Cashflows From Investing Activities	-1,159,558	-425,156	102,226	62,993	64,693	-258,047	-859,833	-1,899,697

	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2014-12-31
Begin Period Cash Flow	479,596	683,149	818,858	818,858	368,144	410,821	411,768	808,908	795,613	515,795	286,245	326,413	319,455	351,418	359,991	383,640	409,922	390,748	416,562	134,441	158,934	192,450	198,119	274,140	299,554	269,480	274,818	276,787	-
Capital Expenditures	60,691	50,421	40,850	45,508	45,264	37,205	34,855	44,582	43,677	43,805	45,195	159,006	18,403	5,992	77,460	211,091	4,563	8,878	14,201	42,203	54,522	7,403	38,984	10,666	15,309	13,145	10,673	9,987	4,011
Cash And Cash Equivalents Changes	36,300	-203,553	-135,709	-2,292	453,006	-42,677	-947	-397,140	13,295	279,818	229,550	-40,168	6,958	-31,963	-8,573	-23,649	-26,282	19,174	-25,814	-	-24,493	-33,516	-5,669	-	-	-	-	-	-
Cash Flows Other Operating	9,569	-887	7,012	10,702	1,012	1,122	-534	-13,647	-6,341	539	-8,414	-7,908	2,633	-8,804	1,981	-4,698	-4,797	21,108	-23,390	-	-6,585	9,923	-21,119	-	-	-	-	-	-
Change In Cash	36,300	-203,553	-135,709	-2,292	453,006	-42,677	-947	-397,140	13,295	279,818	229,550	-40,168	6,958	-31,963	-8,573	-23,649	-26,282	19,174	-25,814	45,437	-24,493	-33,516	-5,669	-76,021	-25,414	30,074	-5,338	-1,969	-145,969
Change In Working Capital	103,172	54,634	-17,006	-110,490	90,753	13,165	31,333	-122,661	55,408	33,215	-12,016	-97,042	47,304	13,185	29,254	-108,137	44,795	28,200	-11,625	-87,424	40,902	17,533	-3,221	-53,889	29,486	9,486	8,646	-53,627	-
Change To Account Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	-	-	-	-	-	-
Change To Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	-	-	-	-	-	-
Change To Liabilities	110,240	57,589	-18,788	-106,849	69,930	32,762	31,867	-109,014	61,749	32,676	-3,602	-89,134	44,671	21,989	27,273	-103,439	49,592	7,092	11,765	-10,294	47,487	7,610	17,898	6,936	54,545	-	-	-1,097	6,785
Change To Netincome	-12,086	-13,806	-5,989	-1,133	-6,745	3,448	-3,514	-1,755	-4,865	-6,167	-7,722	-32,097	-12,289	-18,296	-5,942	-14,020	4,368	8,867	5,692	51,954	7,877	-2,386	34,375	2,480	-	-	-	31,897	35,333
Change To Operating Activities	27,752	-10,720	-1,715	-6,393	20,823	-19,597	-2,964	-12,650	-9,951	11,069	-7,482	-6,501	327	-10,584	4,252	1,861	-8,872	9,432	-22,545	-21,916	-6,461	9,686	-19,428	-13,207	-	-	-	-13,209	-31,438
Depreciation	160,428	158,572	155,796	155,796	150,694	145,280	144,501	142,090	138,147	137,266	135,027	133,764	133,315	133,031	133,609	130,220	139,371	146,450	144,500	107,020	67,466	67,515	67,577	69,420	66,480	66,079	65,702	63,791	215,808
Dividends Paid	-134,569	-134,983	-134,825	-101,702	-98,283	-96,597	-97,230	-84,500	-84,195	-81,682	-81,774	-69,917	-70,465	-68,334	-67,965	-57,518	-57,563	-57,559	-57,432	-25,091	-25,090	-18,816	0	-136	-	-	-	-51,134	-787,598
End Period Cash Flow	-	479,596	683,149	818,858	821,150	368,144	410,821	411,768	808,908	795,613	515,795	286,245	326,413	319,455	351,418	359,991	383,640	409,922	390,748	179,878	134,441	158,934	192,450	198,119	274,140	299,554	269,480	274,818	276,787
Free Cash Flow	291,198	266,602	194,184	79,838	266,949	192,308	205,733	26,458	186,060	174,409	137,501	25,461	167,244	141,490	163,691	10,793	157,146	148,769	98,818	-33,201	85,849	84,808	59,791	-8,249	76,275	65,649	66,658	-8,602	-
Investments	-43,474	-43,508	-28,506	-431,248	36,200	14,299	728	63,973	1,346	1,248	5,539	9,926	4,347	27,246	8,441	26,349	90,455	-58,788	-45,718	-15,882	5,122	-21,004	-21,004	-16,036	-	-	-	-118,576	-74,469
Issuance Of Capital Stock	-	14,408	83,959	240,345	693,445	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Borrowings	-4,484	-105,002	-4,835	186,927	-1,389	-10,333	-13,022	1,181,754	-26,114	-294,391	162,613	-199,006	-89,032	-127,720	-180,812	-216,183	-217,711	-13,430	11,532	-1,876,146	-3,610	-73,730	-1,876,512	-196,441	-	-	-	1,139,026	2,011,713
Net Income	80,359	110,963	92,615	92,395	69,177	60,338	57,367	70,699	32,654	42,903	49,956	51,992	33,707	38,942	20,822	25,268	1,020	-13,946	-17,269	-45,965	-22,510	5,529	-42,391	-26,649	-21,949	-19,666	-9,975	-38,542	-269,861
Other Cashflows From Financing Activities	119,898	861,847	-25,816	3,032	732,029	595,059	-8,727	2,441,011	-1,262	-1,438	315,811	261,150	96,711	513,619	11,994	1,019,980	107,903	2,424,173	896,805	977,681	-9,906	959,695	1,473,087	-4,439	556	164,240	11,112	-3,360	480,032
Other Cashflows From Investing Activities	-6,910	2,282	-21,867	-33,299	-11,237	-373	31,001	32,976	61,340	63,001	82,232	322,224	104,995	156,871	111,688	256,013	33,970	53,808	9,055	4,753	-6,617	48,183	146,472	5,718	2,559	-	-	10,275	22,473
Other Non Cash Items	-	-15,135	-3,017	-248,191	-4,463	1,524	1,573	-23,885	-2,558	2,724	653	-21,743	-3,445	-6,614	3,891	-5,108	11,492	11,535	4,976	2,152	2,179	-2,428	4,652	16,348	12,856	18,789	8,752	24,106	-
Sale Purchase Of Stock	-488	13,493	83,379	239,897	692,997	-606	-605	182,391	-535	447,343	55,387	37,062	17,013	-711	-1,175	-995	-992	-996	-1,037	0	0	-300	-1,153	139,529	-	-	-	246,792	557,381
Total Cash From Financing Activities	-140,184	-229,118	-81,517	303,610	586,228	-111,871	-118,979	-237,399	-111,571	70,366	132,571	-240,247	-142,786	-198,286	-256,783	-275,836	-277,368	-73,705	-53,896	-11,796	-38,606	-92,846	-188,064	-122,186	-24,662	77,579	-2,519	161,172	1,705,277
Total Cash From Operating Activities	351,889	317,023	235,034	125,346	312,213	229,513	240,588	71,040	229,737	218,214	177,721	71,282	215,506	182,159	193,183	48,160	202,746	180,255	130,080	-7,478	100,041	96,365	70,861	2,417	91,584	78,794	77,331	1,385	48,451
Total Cashflows From Investing Activities	-175,405	-291,458	-289,226	-431,248	-445,435	-160,319	-122,556	-230,781	-104,871	-8,762	-80,742	128,797	-65,762	-15,836	55,027	204,027	48,340	-87,376	-101,998	53,282	-85,928	-37,035	111,534	-255,037	-	-	-	-859,833	-1,899,697

Income Statement

Currency in USD. All numbers in thousands.

	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Cost Of Revenue	777,759	739,156	731,601	720,896	434,839	390,820	387,421	383,164
Depreciation And Amortization	592,135	552,530	533,719	560,541	309,578	267,681	250,239	215,808
Ebit	584,086	550,135	512,636	378,668	151,633	207,809	113,528	-34,049
Ebitda	1,176,221	1,102,665	1,046,355	939,209	461,211	475,490	363,767	181,759
Gross Profit	1,218,856	1,083,672	1,033,084	1,002,066	619,617	531,767	448,628	275,558
Income Before Tax	262,776	197,449	147,111	-5,013	-139,722	-96,829	-162,480	-269,626
Income Tax Expense	-	-	-	0	0	0	0	0
Interest Expense	322,661	353,923	367,173	383,595	256,970	286,048	273,736	235,812
Interest Income	-	-	367,173	383,595	256,970	286,048	273,736	-
Minority Interest	-1,351	1,237	51,656	140,075	151,790	151,790	151,790	151,790
Net Income	261,425	196,212	145,463	-4,927	-105,337	-78,239	-160,208	-269,861
Net Income Applicable To Common Shares	261,098	195,764	145,068	-5,744	-89,073	-78,239	-160,208	-269,861
Net Income From Continuing Ops	262,776	-1,655,102	147,111	-5,013	-139,722	-96,829	-160,208	-269,861
Net Interest Income	-322,661	-353,923	-367,173	-383,595	-256,970	-286,048	-	-
Non Operating Income Net Other	52,627	54,508	107,936	56,640	32,937	-	-	-
Non Recurring	8,676	696	18,743	20,819	24,093	-	-	-
Operating Income	550,906	467,837	425,091	321,942	118,207	190,777	114,377	-31,823
Other Operating Expenses	1,445,709	1,354,991	1,339,594	1,380,201	912,156	727,603	717,088	687,149
Reconciled Depreciation	592,135	552,530	533,719	560,541	309,578	-	-	-
Research Development	-	-	-	0	0	-	-	-
Selling General Administrative	75,815	63,305	74,274	98,764	167,739	69,102	79,428	88,177
Total Operating Expenses	667,950	615,835	607,993	659,305	477,317	336,783	329,667	303,985
Total Other Income Expense Net	-288,130	-270,388	-277,980	-326,955	-257,929	-287,606	-276,857	-237,803
Total Revenue	1,996,615	1,822,828	1,764,685	1,722,962	1,054,456	922,587	836,049	658,722

	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2014-12-31
Cost Of Revenue	203,787	212,494	203,236	198,056	202,370	193,118	184,215	183,516	192,821	181,531	181,288	182,137	191,363	182,595	175,506	176,481	186,713	179,771	177,931	129,128	104,119	101,975	99,617	97,688	101,961	98,811	92,360	98,723	593,849
Depreciation And Amortization	160,428	158,572	155,796	151,660	150,694	145,280	144,501	142,090	138,147	137,266	135,027	133,764	133,315	133,031	133,609	130,220	139,371	146,450	144,500	107,020	67,466	67,515	67,577	69,420	66,480	66,079	65,702	63,791	-
Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	76,307	185,803	167,004	153,664	148,547	141,102	140,773	166,081	120,367	128,974	134,713	140,409	122,774	134,648	114,805	121,774	98,584	83,280	75,030	28,279	34,286	62,887	26,181	50,234	46,416	50,857	60,302	31,064	-28,427
Ebitda	236,735	344,375	322,800	305,324	299,241	286,382	285,274	308,171	258,514	266,240	269,740	274,173	256,089	267,679	248,414	251,994	237,955	229,730	219,530	135,299	101,752	130,402	93,758	119,654	112,896	116,936	126,004	94,855	-
Effect Of Accounting Charges	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	364,888	344,806	329,074	322,169	307,162	298,515	291,010	280,584	266,363	268,224	268,501	262,140	251,963	258,987	259,994	256,135	247,538	252,655	245,738	200,826	139,417	140,241	139,133	136,863	131,077	131,685	132,142	117,962	64,873
Income Before Tax	-147	111,505	93,003	74,871	69,495	60,688	43,238	71,130	32,865	43,178	50,276	52,554	33,983	39,405	21,169	46,669	-10,471	-18,129	-23,082	-52,111	-26,266	-4,633	-56,712	-32,061	-24,915	-20,686	-19,167	-38,539	-269,861
Income Tax Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	76,454	74,840	74,389	79,121	79,370	80,764	83,406	95,382	87,713	86,071	84,757	88,417	89,067	95,706	93,983	96,506	97,564	97,226	92,299	74,244	56,796	57,358	68,572	76,883	68,365	70,523	70,277	69,606	294,272
Interest Income	-	-	-	-	-	-	-	-	-	-	84,757	88,417	89,067	95,706	93,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Minority Interest	250	-542	-388	-328	-318	39,637	355	431	211	50,109	49,884	51,656	79,251	79,789	81,452	140,075	21	-242	-311	0	455,370	-455,370	151,790	151,790	0	0	0	151,790	151,790
Net Income	-147	110,963	92,615	74,543	69,177	60,338	57,367	70,699	32,654	42,903	49,956	51,992	33,707	38,942	20,822	25,268	1,020	-13,946	-17,269	-45,965	-22,510	5,529	-42,391	-26,649	-21,949	-19,666	-9,975	-38,542	-269,861
Net Income Applicable To Common Shares	79,032	110,815	92,395	74,476	69,108	60,242	57,272	70,586	32,540	42,784	49,854	51,903	33,616	38,833	20,716	25,078	824	-14,155	-17,491	26,468	-22,745	5,420	-42,391	-78,239	0	0	0	-160,208	-269,861
Net Income From Continuing Ops	80,225	111,505	93,003	74,871	69,495	60,688	60,511	-422,693	-426,319	43,178	50,276	52,554	33,983	39,405	21,169	25,714	1,041	-14,188	-17,580	60,444	-22,510	5,529	-42,391	-78,239	0	0	0	-160,208	-269,861
Net Interest Income	-76,454	-74,840	-74,389	-79,121	-79,370	-80,764	-83,406	-95,382	-87,713	-86,071	-84,757	-88,417	-89,067	-95,706	-93,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non Operating Income Net Other	14,731	20,980	16,300	10,145	11,741	16,027	14,714	11,000	12,057	12,537	18,914	-	25,547	26,782	20,697	-	14,842	5,572	7,238	-	4,369	9,293	14,095	-	-	-	-	-	-
Non Recurring	20,004	1,355	1,515	3,046	4,294	980	356	-3,974	1,723	-180	3,127	-	4,740	1,671	5,392	0	3,252	4,103	6,121	0	14,572	706	1,204	0	0	0	0	0	0
Operating Income	65,494	166,892	155,639	150,841	137,099	133,407	129,559	121,815	110,244	116,532	119,246	113,001	102,243	110,000	99,847	93,232	83,763	77,466	67,481	22,610	29,917	53,594	12,086	45,355	44,507	49,652	51,263	33,636	-28,427
Other Items	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	503,181	390,408	376,671	369,384	372,433	358,226	345,666	342,285	348,940	333,223	330,543	331,276	341,083	331,582	335,653	332,041	347,236	350,857	350,067	299,733	199,047	187,916	225,460	186,631	187,252	180,298	173,422	182,408	0
Reconciled Depreciation	160,428	158,572	155,796	151,660	150,694	145,280	144,501	142,090	138,147	137,266	135,027	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Research Development	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	20,123	19,342	17,639	19,668	19,369	19,828	16,950	16,679	17,972	14,426	14,228	15,375	16,405	15,956	26,538	25,340	21,152	24,636	27,636	63,585	27,462	18,426	58,266	19,523	18,811	15,408	15,360	19,894	88,177
Total Operating Expenses	299,394	177,914	173,435	171,328	170,063	165,108	161,451	158,769	156,119	151,692	149,255	149,139	149,720	148,987	160,147	155,560	160,523	171,086	172,136	170,605	94,928	85,941	125,843	88,943	85,291	81,487	81,062	83,685	687,149
Total Other Income Expense Net	-65,641	-55,387	-62,636	-75,970	-67,604	-72,719	-86,321	-50,685	-77,379	-73,354	-68,970	-60,447	-68,260	-70,595	-78,678	-46,563	-94,234	-95,595	-90,563	-74,721	-56,183	-58,227	-68,798	-77,416	-69,422	-70,338	-70,430	-72,175	-241,434
Total Revenue	568,675	557,300	532,310	520,225	509,532	491,633	475,225	464,100	459,184	449,755	449,789	444,277	443,326	441,582	435,500	432,616	434,251	432,426	423,669	329,954	243,536	242,216	238,750	234,551	233,038	230,496	224,502	216,685	658,722

Latest Income Statement (annual, 2021-12-31)

Gross Profit (+$)
totalRevenue	1,996,615
Cost of Revenue	-777,759
Gross Profit	1,218,856	1,218,856

Operating Income (+$)
Gross Profit	1,218,856
Operating Expense	-667,950
Operating Income	550,906	550,906

Operating Expense (+$)
Research Development	-
Selling General Administrative	75,815
Selling And Marketing Expenses	-
Operating Expense	667,950	75,815

Net Interest Income (+$)
Interest Income	-
Interest Expense	-322,661
Net Interest Income	-322,661	-322,661

Pretax Income (+$)
Operating Income	550,906
Net Interest Income	-322,661
Other Non-Operating Income Expenses	52,627
Income Before Tax (EBT)	262,776	839,036 EBIT - interestExpense = 261,425 261,425 584,086
Interest Expense	322,661
Earnings Before Interest and Taxes (ebit)	584,086	585,437
Earnings Before Interest and Taxes (ebitda)	1,176,221

After tax Income (+$)
Income Before Tax	262,776
Tax Provision	--
Net Income From Continuing Ops	262,776	262,776
Net Income	261,425
Net Income Applicable To Common Shares	261,098

Non-recurring Events
Discontinued Operations	-
Extraordinary Items	-
Effect of Accounting Charges	-
Other Items	-
Non Recurring	8,676
Other Operating Expenses	1,445,709
Total Other Income/Expenses Net	-288,130	270,034