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Rexford Industrial Realty

REXR NYSE Industrial REITs Financials FY2016–FY2025

Rexford Industrial Realty's revenue rose 7.1% to $1.0 billion in fiscal 2025. Its net margin was 21.1%, down from 29.2% a year earlier. Free cash flow was $209 million, up 97.7%. It paid out $648 million in dividends and buybacks, 310% of free cash flow. The diluted share count rose 6.5%.

Last close · Oct 23, 2026

$38.71

6.7%
Value it Compare
Revenue Total sales reported in the income statement.
$1.0B
7.1% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$212M
22.6%
Free cash flow Cash from operations minus capital spending.
$209M
97.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$8.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—

What Rexford Industrial Realty does

No business description yet.

Legal name
Rexford Industrial Realty, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001571283-26-000006
0001571283

Revenue and margins

Rexford Industrial Realty had $1.0B of revenue in fiscal 2025, up 7.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 10.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $209M in fiscal 2025, 20.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Rexford Industrial Realty returned $648M to shareholders in fiscal 2025, 310% of free cash flow. The diluted share count rose 6.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Rexford Industrial Realty yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$3.1B and divides by 232.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Rexford Industrial Realty can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $44.0M$36.8M$33.4M$56.0M$166M
Debt incl. finance leases $1.4B$1.9B$2.2B$3.3B$3.3B
Debt / equity 0.3x0.3x0.3x0.4x0.4x
Total assets $6.8B$9.3B$10.9B$12.6B$12.6B
Total liabilities $1.7B$2.3B$2.8B$3.9B$3.8B
Shareholders' equity $4.8B$6.6B$7.8B$8.3B$8.5B
Net debt (− = net cash) $1.4B$1.9B$2.2B$3.3B$3.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.5M

3 insiders

Sold, 12 months

$4.3M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Apr 28, 2026 David E. LanzerGeneral Counsel & Secretary Sold 33,299 $35.47 $1.2M Form 4
Mar 17, 2026 Michael S. FrankelCo-CEO, Co-President, Director Sold 23,132 $35.29 $0.8M Form 4
Feb 27, 2026 David P StockertDirector Bought 5,000 $37.39 $0.2M Form 4
Feb 27, 2026 Laura E ClarkChief Operating Officer Bought 5,310 $37.73 $0.2M Form 4
Feb 27, 2026 Michael FitzmauriceChief Financial Officer Bought 2,650 $37.55 $0.1M Form 4
Dec 8, 2025 Michael S. FrankelCo-CEO, Co-President, Director Sold 18,750 $40.06 $0.8M Form 4
Dec 4, 2025 Michael S. FrankelCo-CEO, Co-President, Director Sold 20,318 $41.61 $0.8M Form 4
Dec 3, 2025 Michael S. FrankelCo-CEO, Co-President, Director Sold 7,400 $41.51 $0.3M Form 4
Dec 2, 2025 Michael S. FrankelCo-CEO, Co-President, Director Sold 10,650 $41.50 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✕
F-score — / 9— / 9— / 9
Accruals ratio −1.9%−1.7%−2.6%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Rexford Industrial Realty REXR $8.7B 7.1% — 20.8% — — —
CubeSmart CUBE $9.2B 5.3% — — — 28.1x — Compare →
STAG Industrial STAG $7.0B 10.1% — 30.6% — 28.2x — Compare →
First Industrial Realty Trust FR $7.2B 8.6% — — — 19.8x — Compare →
EastGroup Properties EGP $10.7B 12.7% — 56.1% — 33.7x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $126M $161M $213M $267M $330M $452M $631M $798M $936M $1.0B
Interest expense $14.8M $20.2M $25.4M $26.9M $30.8M $40.1M $48.5M $61.4M $98.6M $105M
Net income $25.1M $40.7M $46.2M $62.0M $76.4M $128M $168M $238M $274M $212M
Diluted EPS $0.36 $0.48 $0.41 $0.47 $0.51 $0.80 $0.92 $1.12 $1.20 $0.86
Diluted shares 0.06B 0.07B 0.09B 0.11B 0.12B 0.14B 0.17B 0.20B 0.22B 0.23B
Cash flow
Cash from operations $56.4M $76.6M $103M $140M $183M $232M $328M $428M $479M $542M
Capital expenditure $31.9M $42.3M $58.0M $47.2M $78.8M $103M $135M $267M $373M $333M
Free cash flow $24.5M $34.3M $44.8M $92.3M $104M $129M $193M $161M $106M $209M
Depreciation and amortization $51.4M $64.9M $80.0M $98.9M $115M $151M $197M $245M $275M $316M
Stock-based compensation $3.8M $5.4M $10.1M $10.8M $12.9M $19.5M $28.4M $33.6M $41.6M $101M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $250M
Dividends paid $32.9M $40.2M $53.7M $75.5M $99.3M $130M $202M $291M $354M $398M
Dividends and buybacks $33.6M $40.2M $53.7M $75.6M $99.3M $130M $202M $291M $354M $648M
Balance sheet
Cash and short-term investments $15.5M $6.6M $181M $78.9M $176M $44.0M $36.8M $33.4M $56.0M $166M
Total debt $500M $669M $757M $858M $1.2B $1.4B $1.9B $2.2B $3.3B $3.3B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $1.5B $2.1B $2.8B $3.6B $5.0B $6.8B $9.3B $10.9B $12.6B $12.6B
Total liabilities $553M $746M $879M $1.0B $1.4B $1.7B $2.3B $2.8B $3.9B $3.8B
Shareholders' equity $939M $1.3B $1.9B $2.6B $3.2B $4.8B $6.6B $7.8B $8.3B $8.5B
Margins
Net margin 19.9% 25.2% 21.8% 23.2% 23.1% 28.4% 26.6% 29.8% 29.2% 21.1%
FCF margin 19.4% 21.3% 21.1% 34.6% 31.6% 28.5% 30.5% 20.2% 11.3% 20.8%
Returns
Return on equity 3.1% 3.6% 2.9% 2.8% 2.6% 3.2% 3.0% 3.3% 3.4% 2.5%
Return on assets 1.9% 2.3% 1.9% 1.9% 1.8% 2.2% 2.1% 2.4% 2.3% 1.7%
Growth
Revenue growth 34.4% 27.9% 31.7% 25.8% 23.6% 37.0% 39.6% 26.4% 17.4% 7.1%
Net income growth 1,240.8% 62.0% 13.5% 34.1% 23.3% 67.9% 30.7% 42.0% 15.0% −22.6%
EPS growth 1,100.0% 33.3% −14.6% 14.6% 8.5% 56.9% 15.0% 21.7% 7.1% −28.3%
FCF growth 33.7% 40.1% 30.5% 106.0% 12.9% 23.8% 49.3% −16.4% −34.5% 97.7%
Share count change 16.6% 13.7% 22.0% 22.3% 13.5% 15.6% 22.1% 18.8% 7.6% 6.5%
Financial health
Debt / equity 0.5x 0.5x 0.4x 0.3x 0.4x 0.3x 0.3x 0.3x 0.4x 0.4x
Capital allocation
Capex / revenue 25.3% 26.2% 27.3% 17.7% 23.9% 22.7% 21.4% 33.4% 39.9% 33.2%
Stock comp / revenue 3.0% 3.4% 4.8% 4.0% 3.9% 4.3% 4.5% 4.2% 4.4% 10.0%
Payouts / FCF 137.1% 117.1% 119.8% 81.8% 95.3% 100.6% 104.8% 180.6% 335.7% 310.4%
Quality scores
Accruals ratio −2.4% −2.0% −2.3% −2.4% −2.5% −1.8% −2.0% −1.9% −1.7% −2.6%

Source: SEC EDGAR XBRL filings (CIK 0001571283). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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