How Independence Realty Trust makes money

Period

FY2025

How does Independence Realty Trust make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Independence Realty Trust Inc. · FY2025 · year ended 2025-12-31

Revenue$658MGross profit$658M · 100%Cost of revenue$0 · 0%Operating income$634M · 96%Operating expenses$24M · 4%SG&A$24M · 4%Pre-tax income$57M · 9%Other expense$577M · 88%Net income$57M · 9%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.