First Industrial Realty Trust vs Rexford Industrial Realty
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The short version
- Rexford Industrial Realty is the larger business, with $1.0B of revenue in fiscal 2025 against $727M for First Industrial Realty Trust.
- First Industrial Realty Trust grew revenue faster (8.6%, against 7.1%).
| Latest fiscal year | FR Β· FY25 | REXR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.2B | $8.7B |
| Revenue | $727M | $1.0B |
| Free cash flow | β | $209M |
| Net income | $247M | $212M |
| Growth | ||
| Revenue growth | 8.6% | 7.1% |
| 5-year growth | 10.2% | 24.9% |
| Share count change | 0.1% | 6.5% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 34.0% | 21.1% |
| FCF margin | β | 20.8% |
| Return on capital | β | β |
| Return on equity | 9.3% | 2.5% |
| Balance sheet | ||
| Net debt | β | $3.1B |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $231M | $648M |
| Valuation & quality | ||
| P/E | 19.8x | β |
| Piotroski F-score | β | β |
Revenue
FY16
FR $378M
REXR $126M
FY17
FR $396M
REXR $161M
FY18
FR $404M
REXR $213M
FY19
FR $426M
REXR $267M
FY20
FR $448M
REXR $330M
FY21
FR $476M
REXR $452M
FY22
FR $540M
REXR $631M
FY23
FR $614M
REXR $798M
FY24
FR $670M
REXR $936M
FY25
FR $727M
REXR $1.0B
FR
REXR
Operating margin
FY16
FR β
REXR β
FY17
FR β
REXR β
FY18
FR β
REXR β
FY19
FR β
REXR β
FY20
FR β
REXR β
FY21
FR β
REXR β
FY22
FR β
REXR β
FY23
FR β
REXR β
FY24
FR β
REXR β
FY25
FR β
REXR β
FR
REXR
Free cash flow
FY16
FR β
REXR $24.5M
FY17
FR β
REXR $34.3M
FY18
FR β
REXR $44.8M
FY19
FR β
REXR $92.3M
FY20
FR β
REXR $104M
FY21
FR β
REXR $129M
FY22
FR β
REXR $193M
FY23
FR β
REXR $161M
FY24
FR β
REXR $106M
FY25
FR β
REXR $209M
FR
REXR
Return on capital
FY16
FR β
REXR β
FY17
FR β
REXR β
FY18
FR β
REXR β
FY19
FR β
REXR β
FY20
FR β
REXR β
FY21
FR β
REXR β
FY22
FR β
REXR β
FY23
FR β
REXR β
FY24
FR β
REXR β
FY25
FR β
REXR β
FR
REXR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.