Tricon Residential Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Tricon Residential Inc (TCN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Tricon Residential Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 1,121M vs 5,461M combined for its competitors (17.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs decelerating (-11.6%) for its tracked peer group.
- Profitability: Its 10.9% net margin compares with 25.8% for the peer group.
- Peer revenue share: Tricon Residential Inc accounted for 48.2% of combined revenue among its tracked peer group.
- Peer differentiation: Revenue per employee of $3.05M compares with $1.39M for the peer group (2.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TCN Sales vs. its Competitors, Q4 2023
With a net margin of 10.87 %, Tricon Residential Inc reported lower profitability than its competitors (25.78 %).
Tricon Residential Inc generated 48.17 % of the combined sales of its peer group.
API endpoints for this dataset
Tricon Residential Inc vs. its Competitors, Q4 2023
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Tricon Residential Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Tricon Residential Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Tricon Residential Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Tricon Residential Inc's competitor groups requires a Commercial License.
Tricon Residential Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Tricon Residential Inc | Yes | Yes | Yes | No |
| Competitors combined (6) | ||||
| Similar Growth & Profitability (8) | 57.10 % (4 of 7) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TCN Stock Performance relative to its Competitors
TCN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Star Holdings | 282.9% | Outperformed |
| 2 | American Homes 4 Rent | 282.9% | Outperformed |
| 3 | Umh Properties Inc | 282.9% | Outperformed |
| 4 | Invitation Homes Inc | 282.9% | Outperformed |
| 5 | Bluerock Homes Trust inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Tricon Residential Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Tricon Residential Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Tricon Residential Inc |
3,099.87 | 1,121.22 |
 Invitation Homes Inc |
15,949.28 | 2,898.19 |
 American Homes 4 Rent |
11,841.73 | 1,862.98 |
 Umh Properties Inc |
1,282.15 | 278.58 |
 Nexpoint Residential Trust Inc |
414.91 | 253.07 |
 Star Holdings |
91.09 | 93.77 |
| SUBTOTAL | 32,707.61 | 6,582.36 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Tricon Residential Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Tricon Residential Inc's Competitors Named by the Company
Competitive relationships identified from Tricon Residential Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Star Holdings | Company report | 85% |
| Bluerock Homes Trust inc | Company report | 85% |
| Invitation Homes Inc | Company report | 85% |
| Nexpoint Residential Trust Inc | Company report | 85% |
| American Homes 4 Rent | Company report | 85% |
Company report basis, confidence, active dates and source counts for Tricon Residential Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Tricon Residential Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Bluerock Homes Trust inc | Residential Communities Segment 64.72 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Tricon Residential Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Tricon Residential Inc | 3,100 | 3,046,793 | 331,043 |
| Invitation Homes Inc | 15,949 | 1,680,110 | 396,668 |
| American Homes 4 Rent | 11,842 | 1,165,821 | 339,686 |
| Umh Properties Inc | 1,282 | 515,891 | 46,111 |
| Nexpoint Residential Trust Inc | 415 | 253,069,000 | -33,595,000 |
| Star Holdings | 91 | 1,302,319 | 55,486 |
| PEERS TOTAL | 29,608 | 1,387,484 | 300,730 |
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Tricon Residential Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Real Estate Operations industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (113 companies). See the full Real Estate Operations industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 27.51 % (avg) | -27.5 pp |
| Operating Margin | 89.33 % | industry median | +84.4 pp |
| EBITDA Margin | 41.60 % | 17.32 % (avg) | +24.3 pp |
| Capital Intensity (Capex / Revenue) | 49.43 % | 14.72 % (avg) | +34.7 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Tricon Residential Inc's Strategic Group Map
Tricon Residential Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Tricon Residential Inc's trailing-12-month revenue growth of 500.0% and operating margin of 89.3% compares with an average of 102.9% growth and 14.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Tricon Residential Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Tricon Residential Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 49.43 % vs industry average 14.72 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Tricon Residential Inc's dedicated Suppliers and Customers pages, not here.
Tricon Residential Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Tricon Residential Inc falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Tricon Residential Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 84.4 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
Weaknesses
No rule matched.
Opportunities
- A meaningful share of competitors (33.30 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-11.6% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: see Methodology: SWOT Analysis.
Tricon Residential Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Tricon Residential Inc | 0.61 | 0.49 | 0.09 |
| Invitation Homes Inc | 0.34 | 0.59 | 0.76 |
| American Homes 4 Rent | 0.14 | 0.23 | 0.63 |
| Umh Properties Inc | 0.15 | 0.80 | 1.28 |
| Nexpoint Residential Trust Inc | 0.56 | 0.94 | 1.55 |
| Star Holdings | 1.34 | 2.10 | 0.87 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Tricon Residential Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Tricon Residential Inc | Q4 2023 | +2,111.8 % | -72.9 % |
| Invitation Homes Inc | Q3 2026 | +6.3 % | +15.5 % |
| American Homes 4 Rent | Q2 2026 | - | +7.5 % |
| Umh Properties Inc | Q3 2026 | +10.8 % | -66.6 % |
| Nexpoint Residential Trust Inc | Q2 2026 | +2.3 % | - |
| Star Holdings | Q2 2026 | -54.0 % | - |
| PEERS TOTAL | +46.5 % | -34.0 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Tricon Residential Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Tricon Residential Inc | Q4 2023 | - | -69.8 % |
| Invitation Homes Inc | Q3 2026 | +29.7 % | -13.8 % |
| American Homes 4 Rent | Q2 2026 | - | 0.0 % |
| Umh Properties Inc | Q3 2026 | - | -42.5 % |
| Nexpoint Residential Trust Inc | Q2 2026 | +16.6 % | -7.6 % |
| Star Holdings | Q2 2026 | -100.0 % | -38.4 % |
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Tricon Residential Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Tricon Residential Inc | 0.92% | 1.14% | 3.15% |
| Invitation Homes Inc | 3.68% | 3.61% | 7.47% |
| American Homes 4 Rent | 4.11% | 4.02% | 7.09% |
| Umh Properties Inc | 1.45% | 1.23% | 2.79% |
| Nexpoint Residential Trust Inc | - | - | - |
| Star Holdings | 0.74% | 0.78% | 1.48% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Tricon Residential Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Tricon Residential Inc | 27.44 | 2.76 |
| Invitation Homes Inc | 23.87 | 5.50 |
| American Homes 4 Rent | 26.03 | 6.36 |
| Umh Properties Inc | 298.40 | 4.60 |
| Nexpoint Residential Trust Inc | - | 1.64 |
| Star Holdings | 5.98 | 0.97 |
| PEERS AVERAGE | 25.05 | 4.97 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.