What is Independence Realty Trust Inc.'s earnings per share (EPS)?

Independence Realty Trust Inc. (IRT) reported diluted earnings per share of $0.24 for fiscal year 2025. This represents a 41.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Independence Realty Trust Inc. (IRT) Financials

IRT

Trailing 12 months to June 30, 2026

Revenue $666.8M +3.5% YoY

Net Income $43.5M +56.6% YoY

EPS (Diluted) $0.18 +50.0% YoY

Operating Cash Flow $275.8M +0.2% YoY

Market Cap $3.7B as of Sep 11, 2026

Price / Sales 5.5x on $666.8M revenue, trailing 12 months to June 30, 2026

Price / Earnings 84.4x on $43.5M net income, trailing 12 months to June 30, 2026

Price / Book 1.1x on $3.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IRT SEC filings page.

Independence Realty Trust Inc. (IRT) reported $666.8M in revenue over the twelve months to Jun 30, 2026, up 3.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI IRT FY2025 2026-08-29

Depreciation-heavy real-estate accounting suppresses reported earnings while cash generation supports distributions and debt reduction

FY2025 operating cash flow was $282M versus net income of $56.6M, making cash conversion far stronger than the income statement alone suggests. Depreciation and amortization was $243M, roughly four times net income, so reported profit is heavily shaped by noncash property charges.

Debt-to-equity fell from 0.8x in FY2021 to 0.7x in FY2025, while long-term debt declined. Because total assets also fell from $6.51B to $6.02B, lower leverage came alongside balance-sheet contraction rather than debt-funded asset expansion.

FY2025 dividends were $154M, nearly three times net income of $56.6M; that comparison is compatible with property accounting dominated by noncash depreciation. The per-share dividend climbed from $0.48 in FY2021 to $0.67 in FY2025, while shares outstanding rose from 221.0M to 237.3M, so total distributions reflect both payout growth and a larger equity base.

Financial Health Signals

Financial Health Score 47/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Independence Realty Trust Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Independence Realty Trust Inc. scores 70/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Independence Realty Trust Inc. scores 69/100 on it among other REITs.

Leverage

Not available for Independence Realty Trust Inc., and counted as zero in the overall score.

Interest Cov.

Not available for Independence Realty Trust Inc., and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Independence Realty Trust Inc. scores 73/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Independence Realty Trust Inc. scores 72/100 on it among other REITs.

Piotroski F-Score Partial

6/7

Independence Realty Trust Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.99x

For every $1 of reported earnings, Independence Realty Trust Inc. generates $4.99 in operating cash flow ($282.1M OCF vs $56.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$167.2M

YoY+3.1%

QoQ+1.2%

5Y CAGR+23.8%

10Y CAGR+15.9%

Independence Realty Trust Inc. generated $167.2M in revenue in Q2 2026. This represents an increase of 3.1% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.

Net Income

$3.4M

YoY-57.9%

QoQ+5086.8%

5Y CAGR0.0%

10Y CAGR-19.3%

Independence Realty Trust Inc. reported $3.4M in net income in Q2 2026. This represents a decrease of 57.9% from the same quarter a year earlier. Against the prior quarter it is up 5086.8%.

EPS (Diluted)

$0.01

YoY-66.7%

5Y CAGR-19.7%

10Y CAGR-33.7%

Independence Realty Trust Inc. earned $0.01 per diluted share (EPS) in Q2 2026. This represents a decrease of 66.7% from the same quarter a year earlier.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$22.5M

YoY+15.5%

QoQ-3.5%

5Y CAGR+24.4%

10Y CAGR-2.2%

Independence Realty Trust Inc. held $22.5M in cash against $2.4B in long-term debt as of Q2 2026.

Dividends Per Share

$0.18

YoY+5.9%

QoQ+5.9%

Independence Realty Trust Inc. paid $0.18 per share in dividends in Q2 2026. This represents an increase of 5.9% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.

Shares Outstanding

236M

YoY+0.8%

QoQ0.0%

5Y CAGR+17.5%

10Y CAGR+17.4%

Independence Realty Trust Inc. had 236M shares outstanding in Q2 2026. This represents an increase of 0.8% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

2.0%

YoY-2.9pp

QoQ+2.1pp

5Y change-3.9pp

10Y change-73.6pp

Independence Realty Trust Inc.'s net profit margin was 2.0% in Q2 2026, showing the share of revenue converted to profit. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.1 percentage points.

Return on Equity

0.1%

YoY-0.1pp

QoQ+0.1pp

5Y change-0.4pp

10Y change-7.6pp

Independence Realty Trust Inc.'s ROE was 0.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$1K

QoQ-100.0%

Independence Realty Trust Inc. spent $1K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 100.0%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

IRT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

IRT quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$666.8M	$657.7M+2.8%	$640.0M-3.2%	$661.0M+5.2%	$628.5M+151.2%	$250.3M+18.1%	$211.9M+4.3%	$203.2M+6.3%	$191.2M+18.6%	$161.2M+5.1%	$153.4M+40.0%	$109.6M+122.8%	$49.2M+146.6%	$19.9M+19.9%	$16.6M+91.8%	$8.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$7.7M+11.0%	$7.0M+15.9%	$6.0M+23.9%	$4.8M	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$24.0M-1.2%	$24.2M+6.5%	$22.8M-13.3%	$26.3M+41.1%	$18.6M+23.3%	$15.1M+18.4%	$12.7M+17.8%	$10.8M+13.6%	$9.5M-12.3%	$10.9M+39.5%	$7.8M+585.1%	$1.1M+75.5%	$648K-33.1%	$968K+71.0%	$566K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$51.8M+14.1%	$45.4M+14.5%	$39.7M+289.5%	$10.2M+19.2%	$8.5M+73.1%	$4.9M+32.2%	$3.7M+175.0%	$1.4M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$97.0M+21.9%	$79.6M+6.9%	$74.5M+94.6%	$38.3M+81.7%	$21.1M+125.3%	$9.3M+29.8%	$7.2M+130.1%	$3.1M
Interest Expense	N/A	$79.0M+3.8%	$76.1M-15.3%	$89.9M+3.4%	$87.0M+138.9%	$36.4M-0.2%	$36.5M-7.0%	$39.2M+8.9%	$36.0M+25.4%	$28.7M-19.2%	$35.5M+50.9%	$23.6M+177.2%	$8.5M+132.2%	$3.7M+10.7%	$3.3M+91.4%	$1.7M
Income Tax	N/A	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	$43.5M	$56.6M+43.9%	$39.3M+328.1%	-$17.2M-114.7%	$117.2M+163.0%	$44.6M+201.9%	$14.8M-67.8%	$45.9M+74.6%	$26.3M-13.0%	$30.2M+416.1%	-$9.6M-131.7%	$30.2M+925.7%	$2.9M+378.0%	$615K+600.0%	-$123K-9.8%	-$112K
EPS (Basic)	N/A	$0.24+41.2%	$0.17+312.5%	-$0.08-115.1%	$0.53+29.3%	$0.41+156.2%	$0.16-68.6%	$0.51+70.0%	$0.30-26.8%	$0.41+315.8%	-$0.19-124.4%	$0.78+457.1%	$0.14+16.7%	$0.12+126.7%	-$0.45+92.0%	-$5.60
EPS (Diluted)	$0.18	$0.24+41.2%	$0.17+312.5%	-$0.08-115.1%	$0.53	$0.41	$0.16-68.6%	$0.51+70.0%	$0.30-26.8%	$0.41+315.8%	-$0.19-124.4%	$0.78	$0.14	$0.12	-$0.45	-$5.60
Diluted Shares (Avg)	N/A	235M+4.1%	226M+0.5%	224M+0.6%	223M	110M	95M+4.7%	90M+3.5%	87M+18.7%	74M+41.0%	52M+44.3%	36M	22M	5M	275,384	20,000

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Revenue	$167.2M+3.1%	$165.3M+2.5%	$167.1M+3.8%	$167.1M+4.4%	$162.2M+2.4%	$161.2M+0.4%	$161.0M-3.6%	$160.1M-5.0%
SG&A Expenses	$5.7M-5.0%	$8.5M+1.3%	N/A	$4.9M+2.9%	$6.0M-4.2%	$8.4M+0.3%	N/A	$4.8M+30.2%
Interest Expense	$21.6M+15.0%	$20.7M+7.2%	N/A	$20.5M+11.7%	$18.8M+7.5%	$19.3M-6.1%	N/A	$18.3M-16.9%
Income Tax	N/A	$0	N/A	$0	$0	$0	N/A	$0
Net Income	$3.4M-57.9%	-$68K-100.8%	$33.3M+3423.2%	$6.9M-44.3%	$8.0M-22.3%	$8.4M-52.5%	-$1.0M+97.5%	$12.4M+214.6%
EPS (Basic)	$0.01-66.7%	$0.00-100.0%	$0.14	$0.03-40.0%	$0.03-40.0%	$0.04-50.0%	$0.00+100.0%	$0.05+150.0%
EPS (Diluted)	$0.01-66.7%	$0.00-100.0%	$0.14	$0.03-40.0%	$0.03-40.0%	$0.04-50.0%	$0.00+100.0%	$0.05+150.0%
Diluted Shares (Avg)	236M+0.8%	236M+2.0%	N/A	234M+3.6%	234M+3.9%	232M+2.9%	N/A	226M+0.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

IRT Balance Sheet

IRT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.0B-0.6%	$6.1B-3.5%	$6.3B-3.9%	$6.5B+0.4%	$6.5B+275.0%	$1.7B+4.3%	$1.7B+0.3%	$1.7B+14.4%	$1.5B+12.1%	$1.3B-6.4%	$1.4B+99.3%	$694.1M+281.7%	$181.9M+24.4%	$146.2M+11.3%	$131.4M
Cash & Equivalents	$23.6M+11.0%	$21.2M-7.1%	$22.9M+42.1%	$16.1M-55.3%	$36.0M+311.1%	$8.8M-11.5%	$9.9M+6.1%	$9.3M0.0%	$9.3M-55.4%	$20.9M-45.5%	$38.3M+159.4%	$14.8M+342.8%	$3.3M+31.6%	$2.5M+128.8%	$1.1M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.4B-2.0%	$2.5B-8.5%	$2.7B-2.9%	$2.8B-2.5%	$2.9B+180.3%	$1.0B-2.1%	$1.0B+1.5%	$1.0B+27.9%	$804.5M+5.1%	$765.5M-22.9%	$993.2M+130.4%	$431.1M+303.1%	$107.0M-25.3%	$143.1M+9.0%	$131.3M
Long-Term Debt	$2.3B-2.2%	$2.3B-8.5%	$2.5B-3.1%	$2.6B-2.7%	$2.7B+186.1%	$945.7M-4.0%	$985.6M0.0%	$985.5M+26.6%	$778.4M+4.7%	$743.8M-23.0%	$966.6M+131.6%	$417.4M+304.0%	$103.3M+11.8%	$92.4M	N/A
Total Equity	$3.5B+0.5%	$3.4B+0.3%	$3.4B-4.6%	$3.6B+3.3%	$3.5B+391.6%	$708.1M+15.5%	$613.3M-1.6%	$623.0M-0.2%	$624.1M+23.1%	$506.8M+39.2%	$364.1M+44.9%	$251.3M+235.4%	$74.9M+2322.6%	$3.1M+3454.0%	$87K
Retained Earnings	-$555.3M-22.3%	-$454.1M-30.3%	-$348.4M-81.7%	-$191.7M-1.8%	-$188.4M-5.4%	-$178.8M-26.3%	-$141.5M-15.7%	-$122.3M-43.6%	-$85.2M-37.1%	-$62.2M-328.8%	-$14.5M+13.3%	-$16.7M-406.9%	-$3.3M-722.9%	-$401K-254.9%	-$113K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Total Assets	$6.1B+2.2%	$6.1B+1.9%	$6.0B-0.6%	$6.1B+2.4%	$6.0B+0.4%	$6.0B+0.2%	$6.1B-3.5%	$5.9B-9.6%
Cash & Equivalents	$22.5M+15.5%	$23.3M-19.7%	$23.6M+11.0%	$23.3M+32.2%	$19.5M-7.3%	$29.1M+36.6%	$21.2M-7.1%	$17.6M+2.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.6B+8.0%	$2.6B+7.6%	$2.4B-2.0%	$2.5B+0.7%	$2.4B+0.2%	$2.4B-0.7%	$2.5B-8.5%	$2.5B-15.5%
Long-Term Debt	$2.4B+8.6%	$2.4B+8.0%	$2.3B-2.2%	$2.3B+0.4%	$2.2B-0.1%	$2.3B-1.0%	$2.3B-8.5%	$2.3B-15.8%
Total Equity	$3.4B-1.8%	$3.4B-1.8%	$3.5B+0.5%	$3.5B+3.9%	$3.4B+0.6%	$3.5B+0.9%	$3.4B+0.3%	$3.4B-4.9%
Retained Earnings	-$634.7M-23.3%	-$595.7M-23.3%	-$555.3M-22.3%	-$548.3M-31.7%	-$514.6M-31.1%	-$483.0M-31.6%	-$454.1M-30.3%	-$416.2M-53.0%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.

IRT Cash Flow Statement

IRT quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$275.8M	$282.1M+8.6%	$259.8M-0.9%	$262.2M+5.1%	$249.5M+377.5%	$52.3M-30.3%	$75.0M-0.1%	$75.0M+9.4%	$68.5M+26.2%	$54.3M+821.1%	-$7.5M-140.2%	$18.7M+19.1%	$15.7M+161.3%	$6.0M+34.2%	$4.5M+104.2%	$2.2M
Depreciation & Amortization	N/A	$243.2M+10.1%	$220.9M+0.9%	$219.0M-13.4%	$252.8M+228.8%	$76.9M+26.7%	$60.7M+14.9%	$52.8M+16.8%	$45.2M+32.2%	$34.2M-1.8%	$34.8M+24.0%	$28.1M+124.4%	$12.5M+183.7%	$4.4M+27.3%	$3.5M+95.7%	$1.8M
Stock-Based Compensation	N/A	$7.9M+11.4%	$7.1M-7.6%	$7.7M-3.0%	$7.9M+9.2%	$7.2M+29.9%	$5.6M+78.6%	$3.1M+23.5%	$2.5M+28.3%	$2.0M+61.0%	$1.2M+146.9%	$495K+140.3%	$206K+167.5%	$77K	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$177K+110.7%	$84K-66.3%	$249K-58.4%	$599K-95.8%	$14.4M+34.8%	$10.7M+19.3%	$8.9M+115.0%	$4.2M+187.8%	$1.4M	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$52.1M-30.4%	$74.9M+0.2%	$74.8M+10.0%	$67.9M+70.0%	$40.0M+319.6%	-$18.2M-286.0%	$9.8M-15.4%	$11.6M+152.9%	$4.6M	N/A	N/A
Investing Cash Flow	-$221.5M	-$142.9M-593.6%	-$20.6M-1103.6%	-$1.7M+98.7%	-$135.8M+37.2%	-$216.1M-73.5%	-$124.5M-17.1%	-$106.4M+53.6%	-$229.5M-19.7%	-$191.7M-787.5%	$27.9M	N/A	N/A	-$38.2M-125.9%	-$16.9M+9.9%	-$18.8M
Financing Cash Flow	-$50.1M	-$135.1M+45.2%	-$246.4M+2.9%	-$253.7M-87.4%	-$135.4M-162.7%	$215.9M+342.8%	$48.8M+63.7%	$29.8M-81.7%	$162.4M+29.3%	$125.6M+433.5%	-$37.7M	N/A	N/A	$33.0M+138.1%	$13.9M-20.7%	$17.5M
Dividends Paid	$160.9M	$154.4M+7.2%	$144.0M+6.8%	$134.9M+27.4%	$105.8M+112.4%	$49.8M-11.2%	$56.1M-13.3%	$64.7M+23.4%	$52.5M+0.3%	$52.3M+43.0%	$36.6M+45.7%	$25.1M+67.6%	$15.0M+402.8%	$3.0M+1899.3%	$149K+2880.0%	$5K
Share Buybacks	N/A	$30.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	$62.2M	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Operating Cash Flow	$80.9M-1.6%	$55.3M-8.4%	$60.2M-5.1%	$79.3M+14.6%	$82.2M-0.9%	$60.4M+37.0%	$63.4M+7.2%	$69.2M-8.7%
Depreciation & Amortization	$64.9M+8.5%	$64.6M+10.1%	$63.0M+9.1%	$61.7M+11.7%	$59.8M+10.5%	$58.7M+9.3%	$57.7M	$55.3M-0.5%
Stock-Based Compensation	N/A	$3.8M-4.9%	N/A	N/A	N/A	$3.9M+16.5%	N/A	N/A
Investing Cash Flow	-$47.0M-5.0%	-$66.0M-731.7%	$10.1M+105.3%	-$118.6M-75.5%	-$44.8M-165.8%	$10.4M-95.9%	-$191.5M-235.9%	-$67.6M-15.3%
Financing Cash Flow	-$30.5M+29.6%	$6.3M+109.5%	-$73.6M-159.6%	$47.7M+6183.0%	-$43.3M+28.7%	-$65.9M+78.6%	$123.3M+162.2%	-$784K+92.6%
Dividends Paid	$40.0M+8.4%	$40.6M+9.2%	$40.6M+12.9%	$39.7M+10.4%	$36.9M+2.7%	$37.2M+2.9%	$36.0M+0.1%	$36.0M+0.1%
Share Buybacks	-$1K	$29.9M	N/A	N/A	$0	$0	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

IRT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

IRT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	27.1%-1.1pp	28.2%+2.3pp	25.9%+16.6pp	9.3%-8.1pp	17.4%-7.4pp	24.7%+2.3pp	22.4%+6.8pp	15.7%
Net Margin	8.6%+2.5pp	6.1%+8.8pp	-2.6%-21.3pp	18.6%+0.8pp	17.8%+10.8pp	7.0%-15.6pp	22.6%+8.8pp	13.8%-5.0pp	18.7%+25.0pp	-6.2%-33.8pp	27.5%+21.5pp	6.0%+2.9pp	3.1%+3.8pp	-0.7%+0.5pp	-1.3%
Return on Equity	1.6%+0.5pp	1.1%+1.6pp	-0.5%-3.8pp	3.3%+2.0pp	1.3%-0.8pp	2.1%-5.4pp	7.5%+3.3pp	4.2%-0.6pp	4.8%+6.7pp	-1.9%-10.2pp	8.3%+7.1pp	1.2%+0.3pp	0.8%+4.8pp	-4.0%+124.8pp	-128.7%
Return on Assets	0.9%+0.3pp	0.7%+0.9pp	-0.3%-2.1pp	1.8%+1.1pp	0.7%-0.2pp	0.9%-1.9pp	2.8%+1.2pp	1.6%-0.5pp	2.1%+2.8pp	-0.7%-2.9pp	2.2%+1.8pp	0.4%+0.1pp	0.3%+0.4pp	-0.1%0.0pp	-0.1%
Debt-to-Equity	0.660.0x	0.68-0.1x	0.740.0x	0.730.0x	0.78-0.6x	1.34-0.3x	1.610.0x	1.58+0.3x	1.25-0.2x	1.47-1.2x	2.65+1.0x	1.66+0.3x	1.38-28.5x	29.89-1478.9x	1508.79
Asset Turnover	0.110.0x	0.110.0x	0.110.0x	0.10+0.1x	0.04-0.1x	0.120.0x	0.120.0x	0.120.0x	0.110.0x	0.120.0x	0.080.0x	0.070.0x	0.110.0x	0.110.0x	0.07
FCF Margin	N/A	N/A	N/A	N/A	20.8%-14.5pp	35.3%-1.5pp	36.8%+1.3pp	35.5%+10.7pp	24.8%+36.6pp	-11.9%-20.8pp	8.9%-14.6pp	23.5%+0.6pp	22.9%	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Net Margin	2.0%-2.9pp	0.0%-5.2pp	19.9%+20.5pp	4.1%-3.6pp	5.0%-1.6pp	5.2%-5.8pp	-0.6%+23.6pp	7.7%+5.4pp
Return on Equity	0.1%-0.1pp	0.0%-0.2pp	1.0%+1.0pp	0.2%-0.2pp	0.2%-0.1pp	0.2%-0.3pp	0.0%+1.1pp	0.4%+0.3pp
Return on Assets	0.1%-0.1pp	0.0%-0.1pp	0.5%+0.6pp	0.1%-0.1pp	0.1%0.0pp	0.1%-0.1pp	0.0%+0.6pp	0.2%+0.1pp
Debt-to-Equity	0.73+0.1x	0.72+0.1x	0.660.0x	0.660.0x	0.660.0x	0.650.0x	0.68-0.1x	0.68-0.1x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Independence Realty Trust Inc. IRT	FY2025	$657.7M	$56.6M	8.6%	$3.7B	47/100
Millrose Properties, Inc. MRP	FY2025	$600.5M	$379.9M	63.3%	$4.9B	15/100
Nexpoint Residential Tr Inc NXRT	FY2025	$251.3M	-$32.2M	-12.8%	$577.4M	35/100
Elme Communities ELME	FY2024	$241.9M	-$13.1M	-5.4%	$147.5M	49/100
Veris Residential Inc VRE	FY2025	$288.4M	$75.2M	26.1%	$1.8B	36/100
Equity Lifestyle Pptys Inc ELS	FY2025	$1.5B	$402.1M	26.3%	$11.7B	60/100

Where Independence Realty Trust Inc. Ranks

Frequently Asked Questions

What is Independence Realty Trust Inc.'s annual revenue?

Independence Realty Trust Inc. (IRT) reported $657.7M in total revenue for fiscal year 2025. This represents a 2.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Independence Realty Trust Inc.'s revenue growing?

Independence Realty Trust Inc. (IRT) revenue grew by 2.8% year-over-year, from $640.0M to $657.7M in fiscal year 2025.

Is Independence Realty Trust Inc. profitable?

Yes, Independence Realty Trust Inc. (IRT) reported a net income of $56.6M in fiscal year 2025, with a net profit margin of 8.6%.

How much debt does Independence Realty Trust Inc. have?

As of fiscal year 2025, Independence Realty Trust Inc. (IRT) had $23.6M in cash and equivalents against $2.3B in long-term debt.

What is Independence Realty Trust Inc.'s net profit margin?

Independence Realty Trust Inc. (IRT) had a net profit margin of 8.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Independence Realty Trust Inc. pay dividends?

Yes, Independence Realty Trust Inc. (IRT) paid $0.67 per share in dividends during fiscal year 2025.

What is Independence Realty Trust Inc.'s return on equity (ROE)?

Independence Realty Trust Inc. (IRT) has a return on equity of 1.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Independence Realty Trust Inc.'s operating cash flow?

Independence Realty Trust Inc. (IRT) generated $282.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Independence Realty Trust Inc.'s total assets?

Independence Realty Trust Inc. (IRT) had $6.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Independence Realty Trust Inc. buy back shares?

Yes, Independence Realty Trust Inc. (IRT) spent $30.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Independence Realty Trust Inc. have outstanding?

Independence Realty Trust Inc. (IRT) had 237M shares outstanding as of fiscal year 2025.

What is Independence Realty Trust Inc.'s debt-to-equity ratio?

Independence Realty Trust Inc. (IRT) had a debt-to-equity ratio of 0.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Independence Realty Trust Inc.'s return on assets (ROA)?

Independence Realty Trust Inc. (IRT) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Independence Realty Trust Inc.'s P/E ratio?

Independence Realty Trust Inc. (IRT) trades at 84.4x earnings, its market capitalization divided by net income of $43.5M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.7B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Independence Realty Trust Inc.'s price-to-sales ratio?

Independence Realty Trust Inc. (IRT) trades at 5.5x sales, its market capitalization divided by revenue of $666.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.7B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Independence Realty Trust Inc.'s Piotroski F-Score?

Independence Realty Trust Inc. (IRT) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Independence Realty Trust Inc.'s earnings high quality?

Independence Realty Trust Inc. (IRT) has an earnings quality ratio of 4.99x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Independence Realty Trust Inc.?

Independence Realty Trust Inc. (IRT) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.