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REITs · Real Estate · Fiscal year ends Dec 31
InvenTrust Properties reported revenue of $299M in the fiscal year ended Dec 2025, up 9.2% from the year before. Operating income was $60M, an operating margin of 20.1%, and net income was $111M. Operating cash flow of $155M less capital expenditure of $45M left free cash flow of $111M. Net debt was $782M.
Ranks among the 75 reits companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 212 | 237 | 259 | 274 | 299 |
| Operating income | −8.1 | 17.0 | −30.5 | −33.3 | 60.0 |
| Interest expense | 16.3 | 26.8 | 38.1 | 37.1 | 34.5 |
| Income tax | – | – | 0.5 | 0.5 | 0.6 |
| Net income | −5.4 | 52.2 | 5.3 | 13.7 | 111 |
| Diluted EPS | −0.08 | 0.77 | 0.08 | 0.19 | 1.42 |
| Diluted shares | 71.1 | 67.5 | 67.8 | 71.0 | 78.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 44.9 | 138 | 99.8 | 91.2 | 40.5 |
| Total assets | 2,212 | 2,473 | 2,487 | 2,636 | 2,789 |
| Long-term debt | 533 | 755 | 815 | 740 | 823 |
| Total liabilities | 641 | 869 | 933 | 876 | 994 |
| Shareholders' equity | 1,572 | 1,604 | 1,554 | 1,760 | 1,794 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 90.0 | 126 | 130 | 137 | 155 |
| Capital expenditure | 15.4 | 33.2 | 35.7 | 36.1 | 44.5 |
| Free cash flow | 74.6 | 92.6 | 93.9 | 101 | 111 |
| Depreciation & amortisation | 87.1 | 95.0 | 113 | 114 | 128 |
| Stock-based compensation | 9.1 | 6.5 | 9.0 | 9.9 | 10.9 |
| Share buybacks | 116 | 0.0 | 0.0 | – | – |
| Dividends paid | 55.6 | 55.3 | 57.5 | 62.8 | 72.8 |
| Dividend per share | – | 0.82 | 0.86 | 0.91 | 0.95 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 11.7% | 9.3% | 5.9% | 9.2% |
| Operating income growth (YoY) | – | – | −279.8% | – | – |
| EPS growth (YoY) | – | – | −89.6% | 137.5% | 647.4% |
| Operating margin | −3.8% | 7.2% | −11.8% | −12.2% | 20.1% |
| Net margin | −2.5% | 22.1% | 2.0% | 5.0% | 37.2% |
| Return on equityBlank when equity is negative | −0.3% | 3.3% | 0.3% | 0.8% | 6.2% |
| Free cash flow margin | 35.2% | 39.1% | 36.3% | 36.8% | 37.1% |
| Cash conversion (CFO ÷ net income) | −16.8x | 2.41x | 24.6x | 10.0x | 1.39x |
| Interest cover | −0.50x | 0.63x | −0.80x | −0.90x | 1.74x |
| Debt ÷ equity | 0.34x | 0.47x | 0.52x | 0.42x | 0.46x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 488 | 617 | 715 | 649 | 782 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.