First Industrial Realty Trust vs STAG Industrial
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The short version
- STAG Industrial is the larger business, with $845M of revenue in fiscal 2025 against $727M for First Industrial Realty Trust.
- STAG Industrial grew revenue faster (10.1%, against 8.6%).
- Investors pay more for each dollar of STAG Industrialβs earnings: a P/E of 28.2x against 19.8x for First Industrial Realty Trust.
| Latest fiscal year | FR Β· FY25 | STAG Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.2B | $7.0B |
| Revenue | $727M | $845M |
| Free cash flow | β | $259M |
| Net income | $247M | $274M |
| Growth | ||
| Revenue growth | 8.6% | 10.1% |
| 5-year growth | 10.2% | 11.8% |
| Share count change | 0.1% | 2.6% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 34.0% | 32.4% |
| FCF margin | β | 30.6% |
| Return on capital | β | β |
| Return on equity | 9.3% | 7.8% |
| Balance sheet | ||
| Net debt | β | $3.2B |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $231M | $284M |
| Valuation & quality | ||
| P/E | 19.8x | 28.2x |
| Piotroski F-score | β | β |
Revenue
FY16
FR $378M
STAG $250M
FY17
FR $396M
STAG $301M
FY18
FR $404M
STAG $351M
FY19
FR $426M
STAG $406M
FY20
FR $448M
STAG $483M
FY21
FR $476M
STAG $562M
FY22
FR $540M
STAG $657M
FY23
FR $614M
STAG $708M
FY24
FR $670M
STAG $767M
FY25
FR $727M
STAG $845M
FR
STAG
Operating margin
FY16
FR β
STAG β
FY17
FR β
STAG β
FY18
FR β
STAG β
FY19
FR β
STAG β
FY20
FR β
STAG β
FY21
FR β
STAG β
FY22
FR β
STAG β
FY23
FR β
STAG β
FY24
FR β
STAG β
FY25
FR β
STAG β
FR
STAG
Free cash flow
FY16
FR β
STAG $105M
FY17
FR β
STAG $116M
FY18
FR β
STAG $163M
FY19
FR β
STAG $168M
FY20
FR β
STAG $238M
FY21
FR β
STAG $297M
FY22
FR β
STAG $276M
FY23
FR β
STAG $283M
FY24
FR β
STAG $310M
FY25
FR β
STAG $259M
FR
STAG
Return on capital
FY16
FR β
STAG β
FY17
FR β
STAG β
FY18
FR β
STAG β
FY19
FR β
STAG β
FY20
FR β
STAG β
FY21
FR β
STAG β
FY22
FR β
STAG β
FY23
FR β
STAG β
FY24
FR β
STAG β
FY25
FR β
STAG β
FR
STAG
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.