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INNOVATIVE INDUSTRIAL PROPERTIES INC

IIPR

$59.06 ▲ +0.72 (+1.23%) at close

11 Visible periods

32 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Good

Bullish

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Analytical Summary

INNOVATIVE INDUSTRIAL PROPERTIES INC shows strong fundamentals with top-quartile Profit Margin (%) and Operating Margin (%). The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $1.7B

Dividend Yield —

Revenue Growth -13.8% ↘

Op. Margin 46.7% ↘

ROIC 4.4% ↘

FCF / Share $7.08 ↘

Trailing P/E 14.8x

Price / Book 0.9x

FCF Yield 12.0%

Debt / Equity 0.21

info Valuation on last close. End-of-day price, Aug 7, 2026.

11-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$265.95M

↓ -13.8% —

Net Income Profit after all expenses

$118.25M

↓ -26.9% —

Operating Margin Operating profit as % of sales

46.7%

↓ -14.5% 96th

FCF / Share Free cash flow per share

$7.08

↓ -22.7% —

Long-Term Debt Long-term obligations

$393.71M

↑ +192.4% —

trending_up

Bullish Indicators

Operating Margin (%)Operating Margin (%) is in the top quartile
Profit Margin (%)Profit Margin (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↓

Returns ↓

Financial Health ↓

Cash Quality →

Dividend History

Dividend / share · sourced from SEC filings

$1.80 Latest / share

+0.0% YoY

+15.4% 4-yr CAGR

FY 2015

FY 2016

FY 2017

FY 2018

FY 2019

$1.17

FY 2020

$1.50

FY 2021

$1.80

FY 2022

$1.80

FY 2023

FY 2024

FY 2025

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Revenue Growth YoY (%)	-13.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-376%)	-0.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-106%)	12.0% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+140%)	35.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+602%)	75.0% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1400%)	161.7% Excellent → Excellent Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+3134%)	202.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+3941%)	130.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2507%)	—	—	—
EPS Growth YoY (%)	-28.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-4.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	4.5% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	18.8% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	43.0% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	59.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	171.1% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—
Net Income Growth YoY (%)	-26.9% Weak ↓ Weak Declining Year-over-year change in net income	-2.4% Weak ↓ Weak Declining Year-over-year change in net income	7.3% Fair ↓ Fair Declining Year-over-year change in net income	35.4% Excellent ↓ Excellent Declining Year-over-year change in net income	73.4% Excellent ↓ Excellent Declining Year-over-year change in net income	180.0% Excellent Excellent Year-over-year change in net income	236.1% Excellent Excellent Year-over-year change in net income	N/M	—	—	—
FCF Growth YoY (%)	-22.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	0.2% Caution ↓ Caution Declining Year-over-year change in free cash flow	6.7% Fair ↓ Fair Declining Year-over-year change in free cash flow	8.4% Fair ↓ Fair Declining Year-over-year change in free cash flow	38.6% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	33.8% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	93.8% Excellent Excellent Year-over-year change in free cash flow	47.9% Excellent Excellent Year-over-year change in free cash flow	—	—	—
Revenue CAGR 3Y (%)	-1.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	14.7% Good ↓ Good Declining Compound annual revenue growth over 3 years	38.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	83.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	140.1% Excellent Excellent Compound annual revenue growth over 3 years	163.1% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—
Revenue CAGR 5Y (%)	17.9% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	47.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	83.7% Excellent Excellent Compound annual revenue growth over 5 years	112.2% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—
EPS CAGR 3Y (%)	-10.6% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	6.0% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	21.1% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	39.3% Excellent Excellent Compound annual EPS growth over 3 years	83.4% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—

💰 Are margins durable? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Operating Margin (%) (%)	46.7% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+56%)	54.6% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+82%)	56.4% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+88%)	61.4% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+105%)	66.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+121%)	59.7% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+99%)	55.8% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+86%)	36.1% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+20%)	-3.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-112%)	—	—
Profit Margin (%) (%)	44.5% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+78%)	52.4% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+110%)	53.5% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+114%)	55.9% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+123%)	55.7% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+123%)	56.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+125%)	52.6% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+110%)	47.2% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+89%)	-1.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-104%)	—	—
FCF Margin (%) (%)	74.5% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	83.8% Excellent → Excellent Stable Free cash flow as a percentage of revenue Optimal: > 10%	82.6% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	84.7% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	92.3% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	94.8% Excellent → Excellent Stable Free cash flow as a percentage of revenue Optimal: > 10%	100.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	106.1% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	78.1% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—	—
FCF / Net Income (x)	1.68x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.60x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	1.54x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	1.52x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.66x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.69x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.91x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.25x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-69.65x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Return on Invested Capital (%)	4.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.9% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	7.1% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.8% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	6.6% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	3.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	2.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	1.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-0.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	5.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.1% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	7.3% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.0% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.5% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	3.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	3.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	-0.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	6.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-20%)	8.3% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	8.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+6%)	7.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	7.1% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-12%)	4.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-46%)	4.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-46%)	2.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-67%)	-0.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-101%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Debt to Equity (x)	0.21x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-79%)	—	—	—	—	—	0.25x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-75%)	—	—	—	—
Interest Coverage (x)	7.13x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	10.49x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	10.00x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	9.27x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	7.48x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	9.38x Good Good Operating income divided by interest expense Optimal: > 5x	3.95x Fair Fair Operating income divided by interest expense Optimal: > 5x	—	—	—	—
Net Debt (USD)	$346.12M	$-146.25M	$-140.25M	$-87.12M	$-81.10M	$-126.01M	$52.41M	$-13.05M	$-11.76M	$-33.00M	$0.00
Debt / EBITDA (x)	1.99x Good Good Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	4.02x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Revenue per Share (USD)	$9.50	$10.93	$11.06	$10.11	$8.56	$6.01	$4.24	$2.07	$1.90	—	—
Basic EPS, GAAP (USD)	$3.98	$5.58	$5.82	$5.57	$4.69	$3.28	$2.06	$0.76	$-0.13	—	—
Free Cash Flow per Share (USD)	$7.08	$9.16	$9.13	$8.56	$7.90	$5.70	$4.26	$2.20	$1.49	—	—
Dividend per Share (USD)	—	—	$1.80	$1.80	$1.50	$1.17	—	—	—	—	—
Book Value per Share (USD)	$65.95	$68.34	$69.40	$70.14	$62.93	$63.71	$43.37	$27.04	$21.01	—	—
Tangible Book Value per Share (USD)	$65.95	$68.34	$69.40	$70.14	$62.93	$63.71	$43.37	$27.04	$21.01	—	—
Basic Weighted Avg Shares (shares)	28.01M	28.23M	27.98M	27.35M	23.90M	19.44M	10.55M	7.14M	3.38M	—	—
Dividend Payout Ratio (%)	—	—	30.9% Good ↓ Good Declining Dividends paid as a percentage of earnings Optimal: 30-60%	32.3% Good → Good Stable Dividends paid as a percentage of earnings Optimal: 30-60%	32.0% Good Good Dividends paid as a percentage of earnings Optimal: 30-60%	35.7% Good Good Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
LT Debt (USD)	$393.71M	—	—	—	—	—	$134.65M	—	—	—	—
Total Equity (USD)	$1.85B	$1.94B	$1.95B	$1.96B	$1.61B	$1.52B	$548.01M	$264.29M	$73.55M	$60.44M	$0.00

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Jun 14, 2016 10-K ↗
Sales/Revenue/Turnover (USD)	$265.95M	$308.52M	$309.51M	$276.36M	$204.55M	$116.90M	$44.67M	$14.79M	$6.42M	—	—
Depreciation Expense (USD)	$74.07M	$70.81M	$67.19M	$61.30M	$41.78M	$28.02M	$8.60M	$2.63M	$915.00K	—	—
Net Income, GAAP (USD)	$118.25M	$161.66M	$165.59M	$154.39M	$113.99M	$65.73M	$23.48M	$6.99M	$-72.00K	—	—
Operating Cash Flow (USD)	$198.19M	$258.45M	$255.54M	$234.13M	$188.75M	$110.81M	$44.93M	$15.69M	$5.01M	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 11 years · 39 quarters

INNOVATIVE INDUSTRIAL PROPERTIES INC

Analytical Summary

11-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

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