IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC
NYSE · Real Estate · REIT - Industrial · US
$51.61
−1.49%Income statement
| Metric | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | |||||
| Total Revenue | 263.7M | 266.0M | 308.5M | 309.5M | 276.4M |
| Cost of Revenue | 104.9M | 30.2M | 28.5M | 24.9M | 10.5M |
| Gross Profit | 158.7M | 235.8M | 280.0M | 284.6M | 265.8M |
| Operating Expenses | |||||
| R&D Expense | — | — | — | — | — |
| SG&A Expense | 34.7M | 33.7M | 37.4M | 42.8M | 38.5M |
| General & Admin Expense | 34.7M | 33.7M | 37.4M | 42.8M | 38.5M |
| Selling & Marketing Expense | — | — | — | — | — |
| Other Expenses | (11.5M) | 77.9M | 74.3M | 67.2M | 57.7M |
| Total Operating Expenses | 23.2M | 111.7M | 111.7M | 110.0M | 96.2M |
| Cost and Expenses | 128.1M | 141.8M | 140.2M | 134.9M | 106.7M |
| Operating Income (EBIT) | 135.5M | 124.1M | 168.3M | 174.6M | 169.6M |
| Non-Operating | |||||
| Interest Income | 28.3M | — | 11.0M | 7.1M | 3.2M |
| Interest Expense | 26.0M | 20.2M | 16.3M | 16.1M | 18.3M |
| Net Interest Income | 2.3M | (20.2M) | (5.3M) | (9.0M) | (15.1M) |
| Other Non-Op Income/Expense | 2.3M | (9.7M) | (6.7M) | (9.0M) | (15.2M) |
| Non-Operating Income (excl Interest) | (28.3M) | (10.5M) | (9.6M) | (7.1M) | (1.7M) |
| EBT (Pre-Tax Income) | 137.8M | 114.4M | 161.7M | 165.6M | 154.4M |
| Income Tax Expense | — | — | — | — | — |
| Bottom Line | |||||
| Net Income | 137.8M | 114.4M | 161.7M | 165.6M | 154.4M |
| Earnings from Cont. Ops | 137.8M | 114.4M | 161.7M | 165.6M | 154.4M |
| Earnings from Discont. Ops | — | — | — | — | — |
| Bottom Line Net Income | 127.3M | 114.4M | 157.6M | 163.0M | 152.7M |
| Per Share | |||||
| Basic EPS | $4.51 | $3.98 | $5.58 | $5.82 | $5.57 |
| Diluted EPS | $4.42 | $3.93 | $5.52 | $5.77 | $5.52 |
| Revenue Per Share | $9.27 | $9.50 | $10.93 | $11.06 | $10.11 |
| Shares | |||||
| Basic Shares Outstanding | 28.4M | 28.0M | 28.2M | 28.0M | 27.3M |
| Diluted Shares Outstanding | 30.0M | 28.4M | 28.5M | 28.3M | 27.7M |
| Profitability Metrics | |||||
| EBITDA | 238.4M | 208.7M | 248.7M | 248.9M | 232.6M |
| D&A | 74.6M | 74.1M | 70.8M | 67.2M | 61.3M |
| EBIT | 163.8M | 134.6M | 177.9M | 181.7M | 171.3M |
As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026