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On October 4, 2004, InvenTrust Properties Corp. was incorporated as Inland American Real Estate Trust, Inc., a Maryland corporation, and elected to operate in a manner to be taxed as a REIT for federal tax purposes. The Company changed its name to InvenTrust Properties Corp. in April 2015 and is focused on owning, leasing, redeveloping, acquiring and managing a multi-tenant retail platf…
20.06% operating margin is above average. ROIC at 2.32%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 9.2%, steady but not accelerating.
Net debt of $795M represents 7.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$308M
▲ +9.2% YoY
Net Income (TTM)
$110M
▲ +715.8% YoY
Op. Margin
18.82%
▲ +32.2pp YoY
ROIC
2.18%
▲ +3.4pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$111M
▲ +10.1% YoY
Op. Cash Flow (TTM)
$155M
▲ +13.5% YoY
Net Debt
$931M
Cash & Equiv.
$34M
5Y CAGR: +8.6%
5Y CAGR: +6.4%
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