Innovative Industrial Properties, Inc. (IIPR)

NYSE: IIPR · Real-Time Price · USD

54.56

+1.98 (3.77%)

Oct 22, 2026, 4:00 PM EDT - Market closed

IIPR Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Revenue	263.65	265.96	308.52	309.51	276.36	204.55
Revenue Growth	-8.42%	-13.80%	-0.32%	11.99%	35.10%	74.98%
Net Income	126.2	111.45	157.6	162.75	152.2	112.08
Earnings Per Share	4.43	3.93	5.52	5.77	5.52	4.55
EPS Growth	-4.50%	-28.87%	-4.21%	4.45%	21.24%	39.27%

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Cash & Investments	204.73	47.6	146.25	140.25	87.12	81.1
Total Debt	609.03	393.67	297.87	300.88	301.5	326.09
Net Cash (Debt)	-404.3	-346.08	-151.62	-160.63	-214.37	-245
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-14.05	-12.20	-5.31	-5.68	-7.75	-9.33

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Operating Cash Flow	196.45	198.19	258.45	255.54	234.13	188.75
Free Cash Flow	196.45	198.19	258.45	255.54	234.13	188.75
Free Cash Flow Growth	-12.83%	-23.32%	1.14%	9.15%	24.04%	70.33%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Operating Margin	48.57%	48.87%	55.94%	57.21%	61.16%	66.18%
Pretax Margin	52.27%	44.46%	52.40%	53.50%	55.86%	55.73%
Profit Margin	47.87%	41.91%	51.08%	52.59%	55.07%	54.79%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 23, 2026	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
Dividend Per Share	7.600	7.600	7.520	7.220	7.100	5.720
Dividend Per Share Growth	0%	1.06%	4.15%	1.69%	24.13%	27.96%
Dividend Yield	13.93%	16.05%	11.29%	7.19%	7.00%	2.33%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 23, 2026	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
PE Ratio	12.33	11.91	11.98	17.37	18.63	56.13
PS Ratio	5.71	4.99	6.12	9.13	10.26	30.76