Innovative Industrial Properties Inc
IIPR NYSE· Real Estate
Last close · Oct 23, 2026
$54.21
KIRA · Stoqly’s AI analyst, in plain words
- Innovative Industrial Properties Inc had $266M of revenue in fiscal 2025, down 13.8% on the year before. Over five years, revenue changed +17.9% a year on average.
- Its operating margin was 46.7%, down 7.9 pts: of every 100 in sales, about 47 is left after running the business.
- Innovative Industrial Properties Inc made $118M of net profit in fiscal 2025.
- Innovative Industrial Properties Inc returned $236M to shareholders in fiscal 2025. The diluted share count fell 0.5%.
- Innovative Industrial Properties Inc owes $346M more than it holds in cash, about 1.7 years of operating profit.
Market cap
$1.6B
P/E
12.3x
Revenue
$266M
Net income
$118M
Free cash flow
—
Operating margin
46.7%
Innovative Industrial Properties Inc in 30 seconds · fiscal 2025
Are sales growing?
−13.8%
No. Sales fell 13.8% last year.
Does it make a profit?
44.5%
Yes. It keeps 44.5% of every sale as profit.
Is debt under control?
1.7x
Keep an eye on it. Repaying its debt would take 1.7 years of operating profit.
How is the share priced?
12.3x
One share costs 12.3 times its yearly profit per share.
What Innovative Industrial Properties Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Legal name
- INNOVATIVE INDUSTRIAL PROPERTIES INC
- CIK
- 0001677576
Innovative Industrial Properties Inc · IIPR
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $205M | $276M | $310M | $309M | $266M |
| Revenue growth | 75.0% | 35.1% | 12.0% | −0.3% | −13.8% |
| Operating margin | 66.2% | 61.4% | 56.4% | 54.6% | 46.7% |
| Net income | $114M | $154M | $166M | $162M | $118M |
| Net margin | 55.7% | 55.9% | 53.5% | 52.4% | 44.5% |
| Diluted EPS | $4.55 | $5.52 | $5.77 | $5.52 | $3.93 |
| Cash | |||||
| Cash from operations | $189M | $234M | $256M | $258M | $198M |
| Dividends paid | $131M | $184M | $203M | $212M | $216M |
| Share buybacks | — | — | $0.0M | $0.0M | $20.1M |
| Share count change | 34.3% | 5.3% | 2.1% | 1.0% | −0.5% |
| Debt and strength | |||||
| Cash and short-term investments | $406M | $288M | $162M | $151M | $47.6M |
| Debt incl. finance leases | — | — | — | — | $394M |
| Loans, net | $12.9M | — | — | — | — |
| Shareholders' equity | $1.6B | $2.0B | $2.0B | $1.9B | $1.8B |
| Net debt / EBITDA | — | — | — | — | 1.7x |
| Interest coverage | 7.5x | 9.3x | 10.0x | 9.5x | 6.1x |
| Returns and quality | |||||
| Return on capital | — | — | — | — | 4.5% |
| Return on equity | 7.3% | 8.6% | 8.5% | 8.3% | 6.2% |
| Return on tangible equity | 7.0% | 7.8% | 8.4% | 8.3% | 6.2% |
Insiders bought, 12 months
$1.3M
3 insiders
Insiders sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Innovative Industrial Properties Inc · IIPR
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $54.21 a share, the company is worth $1.6B: 12.3 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001677576). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.