Invitation Homes Inc. (INVH) vs SBA Communications Corporation (SBAC)
A side-by-side comparison of Invitation Homes Inc. and SBA Communications Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 11, 2026. Differences are shown without an overall score or investment verdict.
Total return — INVH vs SBAC
growth of $100 · dividends reinvested · last 10yINVH vs SBAC: by the numbers
- •SBAC is the larger company ($19.30B vs $17.70B market cap).
- •SBAC converts more revenue to profit (34.51% vs 23.14% net margin).
- •INVH grew revenue faster over the past five years (8.60% vs 5.63% CAGR).
- •INVH pays the higher dividend yield (3.98% vs 2.59%).
Metrics side by side
Valuation
| Metric | INVH | SBAC |
|---|---|---|
| P/E ratio | 27.42 | 19.59 |
| Forward P/E | 36.73 | 23.86 |
| P/S ratio | 6.20 | 6.73 |
| P/B ratio | 1.96 | N/A |
| EV / EBITDA | 16.09 | 18.39 |
| FCF yield | 6.11% | 5.44% |
For REITs like Invitation Homes Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like SBA Communications Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | INVH | SBAC |
|---|---|---|
| Gross margin | 3.69% | 41.61% |
| Operating margin | 30.16% | 50.79% |
| Net margin | 23.14% | 34.51% |
| ROE | 7.30% | -21.71% |
| ROIC | 4.91% | 12.72% |
Dividends
| Metric | INVH | SBAC |
|---|---|---|
| Dividend yield | 3.98% | 2.59% |
| Payout ratio | 123.96% | 48.02% |
Invitation Homes Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
SBA Communications Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | INVH | SBAC |
|---|---|---|
| Revenue CAGR (5Y) | 8.60% | 5.63% |
| EPS CAGR (5Y) | 22.36% | 113.83% |
| FCF CAGR (5Y) | 12.11% | 1.35% |
| Total return CAGR (5Y) | -2.03% | -10.69% |
Frequently asked
- Which has grown faster, INVH or SBAC?
- Over the past five years, INVH grew revenue faster — INVH at a 8.60% CAGR versus SBAC at 5.63%.
- Does INVH or SBAC pay a bigger dividend?
- INVH yields 3.98% and SBAC yields 2.59% based on trailing dividends and the latest price.
- Is INVH or SBAC more profitable?
- SBAC runs the higher net margin — INVH at 23.14% versus SBAC at 34.51%.
- How have INVH and SBAC total returns compared?
- Over the past 5 years, INVH delivered -2.03% and SBAC delivered 5.57% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Invitation Homes & SBA Communications appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 11, 2026.