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
Rental Revenue	265.49	306.94	307.35	274.38	204.55
Other Revenue	0.47	1.58	2.16	1.98	-
Total 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
Selling, General & Administrative	31.73	36.66	40.35	35.51	22.96
Depreciation & Amortization	74.07	70.81	67.19	61.3	41.78
Total Operating Expenses	135.97	135.94	132.44	107.33	69.18
Operating Income	129.98	172.58	177.07	169.03	135.37
Interest Expense	-20.2	-17.67	-17.47	-18.3	-18.09
Interest & Investment Income	14.32	10.99	8.45	3.2	0.4
EBT Excluding Unusual Items	124.11	165.9	168.05	153.92	117.68
Gain (Loss) on Sale of Assets	-0.33	-3.45	-	3.6	-
Asset Writedown	-3.53	-	-	-	-
Total Legal Settlements	-2.01	-0.79	-2.48	-3.01	-
Other Unusual Items	-	-	0.02	-0.13	-3.69
Pretax Income	118.25	161.66	165.59	154.39	113.99
Net Income	118.25	161.66	165.59	154.39	113.99
Preferred Dividends & Other Adjustments	6.8	4.06	2.83	2.19	1.91
Net Income to Common	111.45	157.6	162.75	152.2	112.08
Net Income Growth	-26.86%	-2.37%	7.26%	35.44%	73.42%
Basic Shares Outstanding	28	28	28	27	24
Diluted Shares Outstanding	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	4.69
EPS (Diluted)	3.93	5.52	5.77	5.52	4.55
EPS Growth	-28.87%	-4.21%	4.45%	21.24%	39.27%
Dividend Per Share	7.600	7.520	7.220	7.100	5.720
Dividend Growth	1.06%	4.15%	1.69%	24.13%	27.96%
Operating Margin	48.87%	55.94%	57.21%	61.16%	66.18%
Profit Margin	41.91%	51.08%	52.59%	55.07%	54.79%
EBITDA	204.05	243.39	244.26	230.33	177.15
EBITDA Margin	76.72%	78.89%	78.92%	83.34%	86.61%
D&A For Ebitda	74.07	70.81	67.19	61.3	41.78
EBIT	129.98	172.58	177.07	169.03	135.37
EBIT Margin	48.87%	55.94%	57.21%	61.16%	66.18%
Funds From Operations (FFO)	192.36	230.21	231.43	210.74	154.41
FFO Per Share	6.78	8.07	8.20	7.64	6.17
Adjusted Funds From Operations (AFFO)	205.41	256.12	256.28	233.09	167.44
AFFO Per Share	7.24	8.98	9.08	8.45	6.66
FFO Payout Ratio	112.43%	92.07%	87.59%	87.29%	84.81%
Revenue as Reported	265.96	308.52	309.51	276.36	204.55

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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