Independence Realty TRUST, Inc. (IRT) intrinsic value & 10-year financials
Independence Realty TRUST, Inc. (IRT) has a Graham intrinsic value of $2.58 per share. At $14.77 on Oct 17, 2026, the stock trades 472% above that value. Over the last 10 fiscal years revenue grew 17.6% a year to $657.7M, with an average return on invested capital of 1.8%.
- Graham intrinsic value
- $2.58
- Share price (Oct 17, 2026)
- $14.77
- Price vs Graham value
- 472% above
- Market cap
- $3.5B
- Revenue (FY2025)
- $657.7M
- Revenue growth (10-yr CAGR)
- 17.6%
- ROIC (10-yr avg)
- 1.8%
- Free cash flow (FY2025)
- —
IRT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $657.7M | $56.6M | $0.24 | — | — | 1.0% |
| FY2024 | $640.0M | $39.3M | $0.17 | — | — | 0.7% |
| FY2023 | $661.0M | -$17.2M | -$0.08 | — | — | -0.3% |
| FY2022 | $628.5M | $117.2M | $0.53 | — | — | 1.9% |
| FY2021 | $250.3M | $44.6M | $0.20 | $52.1M | — | 1.1% |
| FY2020 | $211.9M | $14.8M | $0.08 | $74.9M | — | 0.9% |
| FY2019 | $203.2M | $45.9M | $0.26 | $74.8M | — | 2.9% |
| FY2018 | $191.2M | $26.3M | $0.15 | $67.9M | 27.1% | 3.5% |
| FY2017 | $161.2M | $30.2M | $0.20 | $40.0M | 28.2% | 3.5% |
| FY2016 | $153.4M | -$9.6M | -$0.10 | -$18.2M | 25.9% | 3.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
INDEPENDENCE REALTY TRUST, INC. is a consistent compounder, expanding top-line revenue at 17.6% annually over the past decade.
INDEPENDENCE REALTY TRUST, INC. has historically struggled to out-earn its cost of capital, averaging just 1.8% ROIC.
Over the decade, INDEPENDENCE REALTY TRUST, INC. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, INDEPENDENCE REALTY TRUST, INC. is modeled at 2.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $2.58 per share.