Innovative Industrial Properties, Inc. (IIPR)

NYSE: IIPR · Real-Time Price · USD

51.61

-2.01 (-3.75%)

At close: Mar 20, 2026, 4:00 PM EDT

52.07

+0.46 (0.89%)

After-hours: Mar 20, 2026, 7:00 PM EDT

IIPR Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	265.49	306.94	307.35	274.38	204.55
Service and Other Revenue	0.47	1.58	2.16	1.98	-
Revenue	265.96	308.52	309.51	276.36	204.55
Revenue Growth (YoY)	-13.80%	-0.32%	11.99%	35.10%	74.98%
Property Expenses	30.18	28.47	24.89	10.52	4.44
Total Property Expenses	30.18	28.47	24.89	10.52	4.44
Gross Profit	235.78	280.05	284.61	265.84	200.11
Selling, General & Admin	33.74	37.44	42.83	38.52	22.96
Depreciation & Amortization Expenses	74.07	70.81	67.19	61.3	41.78
Other Operating Expenses	3.53	-	-	-	-
Operating Income	124.12	168.35	174.59	169.62	135.37
Net Gains on Disposal of Properties	0.33	3.45	-	-3.6	-
Interest Income	14.32	10.99	8.45	3.2	0.4
Interest Expense	-20.2	-17.67	-17.47	-18.3	-18.09
Other Non-Operating Income (Expense)	-	-	-0.02	0.13	3.69
Total Non-Operating Income (Expense)	-5.55	-3.24	-9.04	-18.58	-14
Pretax Income	118.25	161.66	165.59	154.39	113.99
Net Income	114.44	159.86	164.24	153.03	112.64
Net Income Attributable to Preferred Dividends	-3.81	-1.8	-1.35	-1.35	-1.35
Net Income to Common	114.44	159.86	164.24	153.03	112.64
Net Income Growth	-28.41%	-2.67%	7.32%	35.86%	74.96%
Shares Outstanding (Basic)	28	28	28	27	24
Shares Outstanding (Diluted)	28	29	28	28	26
Shares Change (YoY)	-0.54%	0.97%	2.14%	5.34%	34.28%
EPS (Basic)	3.98	5.58	5.82	5.57	4.71
EPS (Diluted)	3.93	5.52	5.77	5.52	4.29
EPS Growth	-28.80%	-4.33%	4.53%	28.70%	-9.13%
Free Cash Flow	166.9	176.7	70.55	-289.84	-473.38
Free Cash Flow Growth	-5.54%	150.46%	-	-	-
Free Cash Flow Per Share	5.88	6.19	2.50	-10.48	-18.03
Dividends Per Share	7.600	7.520	7.220	7.100	5.720
Dividend Growth	1.06%	4.15%	1.69%	24.13%	27.96%
Gross Margin	88.65%	90.77%	91.96%	96.19%	97.83%
Operating Margin	46.67%	54.57%	56.41%	61.38%	66.18%
Profit Margin	44.46%	52.40%	53.50%	55.86%	55.73%
FCF Margin	62.75%	57.27%	22.79%	-104.88%	-231.42%
EBITDA	198.19	239.15	241.78	230.92	177.15
EBITDA Margin	74.52%	77.52%	78.12%	83.56%	86.60%
EBIT	124.12	168.35	174.59	169.62	135.37
EBIT Margin	46.67%	54.57%	56.41%	61.38%	66.18%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q