Free Trial
→ Now I look stupid. Real stupid... (From Porter & Company) (Ad) Buy IIPR Stock  Free IIPR Stock Alerts

Innovative Industrial Properties (IIPR) Financials

Innovative Industrial Properties logo
$50.78 +1.42 (+2.88%)
Closing price 04/14/2025 03:58 PM Eastern
Extended Trading
$51.47 +0.69 (+1.36%)
As of 09:20 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Compare
Annual Income Statements for Innovative Industrial Properties

Annual Income Statements for Innovative Industrial Properties

This table shows Innovative Industrial Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 -0.40 5.63 22 64 113 153 164 160
Consolidated Net Income / (Loss)		 -0.07 6.99 23 66 114 154 166 162
Net Income / (Loss) Continuing Operations		 -0.07 6.99 23 66 114 154 166 162
Total Pre-Tax Income 		-0.07 6.99 23 66 114 173 183 179
Total Revenue		 6.57 16 43 113 187 279 318 320
Net Interest Income / (Expense)		 0.15 1.65 -1.46 -4.01 -18 3.20 8.45 11
Total Interest Income		 0.15 1.65 4.85 3.42 0.40 3.20 8.45 11
Investment Securities Interest Income		 0.15 1.65 4.85 3.42 0.40 3.20 8.45 11
Total Interest Expense		 0.00 0.00 6.31 7.43 18 0.00 0.00 0.00
Total Non-Interest Income		 6.42 15 45 117 205 276 310 309
Other Service Charges		 - - - 0.00 0.00 1.98 2.16 1.58
Net Realized & Unrealized Capital Gains on Investments		 - - - - - -0.13 0.02 0.00
Other Non-Interest Income		 6.42 15 45 117 205 274 307 307
Total Non-Interest Expense		 6.64 9.45 20 47 73 107 135 140
Net Occupancy & Equipment Expense		 0.12 0.45 1.32 4.95 4.44 11 25 28
Other Operating Expenses		 5.61 6.38 9.82 14 23 39 43 37
Depreciation Expense		 0.92 2.63 8.60 28 42 61 67 71
Other Special Charges		 - - 0.00 0.00 3.69 -3.60 0.00 3.45
Other Gains / (Losses), net		 - - - 0.00 0.00 -18 -17 -18
Preferred Stock Dividends Declared		 0.32 1.35 1.35 1.35 1.35 1.35 1.35 1.80
Basic Earnings per Share		 ($0.13) $0.76 $2.06 $3.28 $4.69 $5.57 $5.82 $5.58
Weighted Average Basic Shares Outstanding		 3.38M 7.14M 10.55M 19.44M 23.90M 27.35M 27.98M 28.23M
Diluted Earnings per Share		 ($0.13) $0.75 $2.03 $3.27 $4.55 $5.52 $5.77 $5.52
Weighted Average Diluted Shares Outstanding		 3.38M 7.29M 10.68M 19.56M 26.26M 27.66M 28.26M 28.53M
Weighted Average Basic & Diluted Shares Outstanding		 3.38M 7.40M 17.04M 23.93M 25.62M 28.00M 28.21M 28.33M

Quarterly Income Statements for Innovative Industrial Properties

This table shows Innovative Industrial Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 37 41 41 41 41 41 39 42 40 39
Consolidated Net Income / (Loss)		 38 42 41 41 42 42 39 42 40 40
Net Income / (Loss) Continuing Operations		 38 42 41 41 42 42 39 42 40 40
Total Pre-Tax Income 		38 60 41 46 46 50 39 46 45 49
Total Revenue		 67 86 74 79 80 85 73 84 79 84
Net Interest Income / (Expense)		 -3.74 16 -2.29 2.32 2.08 6.34 -2.61 3.97 2.69 6.94
Total Interest Income		 0.77 1.78 2.23 2.32 2.08 1.82 1.78 3.97 2.69 2.55
Investment Securities Interest Income		 0.77 1.78 2.23 2.32 2.08 1.82 1.78 3.97 2.69 2.55
Total Interest Expense		 4.51 -14 4.52 0.00 0.00 -4.52 4.39 0.00 0.00 -4.39
Total Non-Interest Income		 71 70 76 76 78 79 75 80 77 77
Other Service Charges		 0.54 0.54 0.54 0.54 0.54 0.54 0.54 0.54 0.47 0.03
Other Non-Interest Income		 70 70 76 76 77 79 75 79 76 77
Total Non-Interest Expense		 30 26 33 33 34 35 33 37 35 35
Net Occupancy & Equipment Expense		 2.82 3.29 5.62 5.76 6.32 7.19 6.71 6.86 7.30 7.61
Other Operating Expenses		 11 10 10 11 11 11 9.56 9.66 9.33 8.89
Depreciation Expense		 16 16 17 17 17 17 17 17 18 18
Preferred Stock Dividends Declared		 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.56 0.56
Basic Earnings per Share		 $1.33 $1.47 $1.45 $1.45 $1.46 $1.46 $1.37 $1.45 $1.38 $1.38
Weighted Average Basic Shares Outstanding		 27.94M 27.35M 27.95M 27.98M 27.98M 27.98M 28.15M 28.25M 28.25M 28.23M
Diluted Earnings per Share		 $1.32 $1.46 $1.43 $1.44 $1.45 $1.45 $1.36 $1.44 $1.37 $1.35
Weighted Average Diluted Shares Outstanding		 28.16M 27.66M 28.22M 28.26M 28.27M 28.26M 28.46M 28.57M 28.58M 28.53M
Weighted Average Basic & Diluted Shares Outstanding		 27.97M 28.00M 28.03M 28.04M 28.04M 28.21M 28.33M 28.33M 28.33M 28.33M

Annual Cash Flow Statements for Innovative Industrial Properties

This table details how cash moves in and out of Innovative Industrial Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 -21 1.29 104 8.69 -40 2.15 53 4.55
Net Cash From Operating Activities		 5.02 16 45 111 189 234 256 258
Net Cash From Continuing Operating Activities		 5.02 16 45 111 189 234 256 258
Net Income / (Loss) Continuing Operations		 -0.07 6.99 23 66 114 154 166 162
Consolidated Net Income / (Loss)		 -0.07 6.99 23 66 114 154 166 162
Depreciation Expense		 0.92 2.63 8.60 28 42 61 67 71
Amortization Expense		 0.00 -0.96 -2.06 -0.75 2.51 -0.90 -1.83 1.16
Non-Cash Adjustments to Reconcile Net Income		 1.72 1.47 2.50 3.49 12 14 20 21
Changes in Operating Assets and Liabilities, net		 2.45 5.57 12 14 18 5.12 4.92 3.95
Net Cash From Investing Activities		 -39 -199 -341 -1,027 -384 -396 -6.79 -56
Net Cash From Continuing Investing Activities		 -39 -199 -341 -1,027 -384 -396 -6.79 -56
Purchase of Property, Leasehold Improvements and Equipment		 -5.91 -22 -85 -290 -375 -374 -150 -63
Acquisitions		 0.00 0.00 -0.65 - -0.63 -0.25 - 0.00
Purchase of Investment Securities		 -33 -242 -516 -1,318 -873 -561 -151 -65
Sale and/or Maturity of Investments		 0.00 66 260 581 864 539 294 72
Net Cash From Financing Activities		 12 185 400 925 156 164 -196 -198
Net Cash From Continuing Financing Activities		 12 185 400 925 156 164 -196 -198
Issuance of Preferred Equity		 14 - - - - 0.00 0.00 9.62
Issuance of Common Equity		 0.00 193 286 1,004 0.00 352 9.56 12
Repayment of Debt		 - - 0.00 0.00 -1.70 0.00 0.00 -4.44
Payment of Dividends		 -1.05 -7.98 -24 -77 -132 -185 -204 -214
Other Financing Activities, Net		 -0.57 -0.39 -0.94 -2.17 -10 -2.44 -1.13 -1.32
Cash Interest Paid		 0.00 0.00 3.06 5.39 14 17 16 16

Quarterly Cash Flow Statements for Innovative Industrial Properties

This table details how cash moves in and out of Innovative Industrial Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 33 10 -49 55 24 23 12 -33 26 -0.88
Net Cash From Operating Activities		 57 55 65 62 63 66 72 64 65 58
Net Cash From Continuing Operating Activities		 57 55 65 62 63 66 72 64 65 58
Net Income / (Loss) Continuing Operations		 38 42 41 41 42 42 39 42 40 40
Consolidated Net Income / (Loss)		 38 42 41 41 42 42 39 42 40 40
Depreciation Expense		 16 16 17 17 17 17 17 17 18 18
Amortization Expense		 -0.23 -0.85 -1.34 -0.61 0.07 0.05 0.22 0.33 0.16 0.45
Non-Cash Adjustments to Reconcile Net Income		 4.41 0.74 4.83 4.91 4.96 4.96 4.34 7.85 4.34 4.34
Changes in Operating Assets and Liabilities, net		 -0.91 -2.35 3.32 -0.51 -0.23 2.34 10 -3.44 2.21 -5.25
Net Cash From Investing Activities		 25 5.54 -63 44 12 -0.79 -14 -44 6.40 -3.57
Net Cash From Continuing Investing Activities		 25 5.54 -63 44 12 -0.79 -14 -44 6.40 -3.57
Purchase of Property, Leasehold Improvements and Equipment		 -25 -57 -66 -45 -18 -21 -17 -20 -8.65 -17
Purchase of Investment Securities		 -80 -110 -87 -23 -21 -21 -20 -38 - -6.44
Sale and/or Maturity of Investments		 130 174 90 112 51 40 22 14 15 20
Net Cash From Financing Activities		 -49 -51 -51 -51 -51 -42 -45 -52 -45 -55
Net Cash From Continuing Financing Activities		 -49 -51 -51 -51 -51 -42 -45 -52 -45 -55
Payment of Dividends		 -49 -51 -51 -51 -51 -51 -52 -52 -55 -55
Other Financing Activities, Net		 - - -0.57 - - -0.56 -0.86 -0.14 -0.01 -0.31
Cash Interest Paid		 0.12 8.25 0.12 8.22 -0.08 7.87 0.07 7.86 -0.13 8.25

Annual Balance Sheets for Innovative Industrial Properties

This table presents Innovative Industrial Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets		 63 80 281 746 1,768 2,085 2,415 2,391 2,378
Cash and Due from Banks		 33 12 13 82 126 81 87 140 146
Restricted Cash		 - - 0.00 35 0.00 5.32 1.45 1.45 0.00
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 30 62 126 419 680 1,020 2,012 2,048 2,106
Intangible Assets		 - - - - 0.00 9.15 9.11 8.25 7.39
Other Assets		 0.28 6.38 142 210 962 969 305 193 118
Total Liabilities & Shareholders' Equity		 63 80 281 746 1,768 2,085 2,415 2,391 2,378
Total Liabilities		 2.89 6.48 17 198 243 473 453 438 442
Non-Interest Bearing Deposits		 2.54 4.16 9.01 21 34 53 59 59 57
Other Short-Term Payables		 0.07 2.26 5.73 16 35 47 61 63 65
Long-Term Debt		 - - 0.00 135 137 326 301 301 298
Other Long-Term Liabilities		 0.28 0.06 2.43 26 38 47 31 15 22
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 60 74 264 548 1,525 1,612 1,962 1,953 1,936
Total Preferred & Common Equity		 60 74 264 548 1,525 1,612 1,962 1,953 1,936
Preferred Stock		 0.00 14 14 14 14 14 14 14 24
Total Common Equity		 60 60 250 534 1,511 1,598 1,948 1,939 1,912
Common Stock		 65 64 261 554 1,559 1,673 2,065 2,096 2,124
Other Equity Adjustments		 - - -10 -20 -48 -75 -117 -157 -212

Quarterly Balance Sheets for Innovative Industrial Properties

This table presents Innovative Industrial Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets		 2,431 2,413 2,396 2,389 2,400 2,384 2,395
Cash and Due from Banks		 77 38 93 117 154 121 147
Restricted Cash		 1.58 1.45 1.45 1.45 0.00 0.00 0.00
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 1,277 2,044 2,055 2,057 2,042 2,069 2,103
Intangible Assets		 9.32 8.89 8.68 8.46 8.03 7.82 7.60
Other Assets		 1,066 321 239 205 196 187 138
Total Liabilities & Shareholders' Equity		 2,431 2,413 2,396 2,389 2,400 2,384 2,395
Total Liabilities		 464 455 443 441 444 437 449
Non-Interest Bearing Deposits		 61 59 58 59 60 59 61
Other Short-Term Payables		 64 62 60 65 64 64 70
Long-Term Debt		 301 300 300 301 297 297 298
Other Long-Term Liabilities		 37 34 25 16 23 18 20
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,967 1,958 1,953 1,949 1,955 1,947 1,947
Total Preferred & Common Equity		 1,967 1,958 1,953 1,949 1,955 1,947 1,947
Preferred Stock		 14 14 14 14 14 14 24
Total Common Equity		 1,953 1,944 1,939 1,935 1,941 1,933 1,923
Common Stock		 2,061 2,072 2,076 2,081 2,111 2,116 2,120
Other Equity Adjustments		 -108 -127 -137 -147 -170 -182 -197

Annual Metrics and Ratios for Innovative Industrial Properties

This table displays calculated financial ratios and metrics derived from Innovative Industrial Properties' official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 150.10% 162.91% 161.27% 65.53% 49.54% 13.79% 0.48%
EBITDA Growth		 0.00% 927.16% 246.62% 209.87% 70.18% 47.27% 6.58% 1.16%
EBIT Growth		 0.00% 9,801.39% 236.08% 180.00% 73.42% 51.49% 6.00% -2.03%
NOPAT Growth		 0.00% 13,959.13% 236.08% 180.00% 73.42% 51.49% 6.00% -2.03%
Net Income Growth		 0.00% 9,801.39% 236.08% 180.00% 73.42% 35.44% 7.26% -2.37%
EPS Growth		 0.00% 676.92% 170.67% 61.08% 39.14% 21.32% 4.53% -4.33%
Operating Cash Flow Growth		 0.00% 212.92% 186.33% 146.62% 70.33% 24.04% 9.15% 1.14%
Free Cash Flow Firm Growth		 0.00% 0.00% -114.90% -131.27% 82.25% 5.69% 225.95% 3.46%
Invested Capital Growth		 0.00% 259.34% 158.30% 143.41% 16.62% 16.80% -0.42% -0.88%
Revenue Q/Q Growth		 0.00% 25.37% 35.54% 19.72% 10.16% 13.44% 5.92% 5.16%
EBITDA Q/Q Growth		 0.00% 29.80% 50.86% 22.71% 7.71% 16.87% 6.01% 7.56%
EBIT Q/Q Growth		 0.00% 41.80% 44.56% 21.05% 6.84% 22.03% 7.26% 9.88%
NOPAT Q/Q Growth		 0.00% 41.80% 44.56% 21.05% 6.84% 22.03% 7.26% 9.88%
Net Income Q/Q Growth		 0.00% 41.80% 44.56% 21.05% 6.84% 9.10% 0.08% -0.98%
EPS Q/Q Growth		 0.00% 33.93% 39.04% 3.48% 3.88% 6.36% -0.17% -1.78%
Operating Cash Flow Q/Q Growth		 0.00% 20.07% 43.89% 14.92% 7.74% 3.34% 4.38% -3.10%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 5.21% -18.93% 62.31% 16.70% 1.61% 18.34%
Invested Capital Q/Q Growth		 0.00% 74.92% 16.91% 18.17% -0.27% -0.21% 0.21% -0.45%
Profitability Metrics		 - - - - - - - -
EBITDA Margin		 12.83% 52.69% 69.47% 82.39% 84.70% 83.42% 78.13% 78.65%
EBIT Margin		 -1.10% 42.50% 54.33% 58.23% 61.00% 61.80% 57.57% 56.13%
Profit (Net Income) Margin		 -1.10% 42.50% 54.33% 58.23% 61.00% 55.25% 52.08% 50.60%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 89.40% 90.46% 90.15%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -0.07% 4.14% 4.96% 5.61% 6.33% 8.22% 8.10% 7.99%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 4.96% 5.61% 6.33% 2.39% 2.31% 2.09%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.82% 0.73% 0.93% 0.42% 0.35% 0.32%
Return on Equity (ROE)		 0.00% 0.00% 5.78% 6.34% 7.27% 8.64% 8.46% 8.31%
Cash Return on Invested Capital (CROIC)		 0.00% -108.78% -83.40% -77.91% -9.01% -7.28% 8.53% 8.88%
Operating Return on Assets (OROA)		 -0.10% 3.86% 4.57% 5.23% 5.92% 7.68% 7.62% 7.52%
Return on Assets (ROA)		 -0.10% 3.86% 4.57% 5.23% 5.92% 6.86% 6.89% 6.78%
Return on Common Equity (ROCE)		 0.00% 0.00% 5.58% 6.26% 7.20% 8.57% 8.40% 8.23%
Return on Equity Simple (ROE_SIMPLE)		 -0.10% 2.64% 4.28% 4.31% 7.07% 7.87% 8.48% 8.35%
Net Operating Profit after Tax (NOPAT)		 -0.05 6.99 23 66 114 173 183 179
NOPAT Margin		 -0.77% 42.50% 54.33% 58.23% 61.00% 61.80% 57.57% 56.13%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 5.83% 5.80% 5.90%
SG&A Expenses to Revenue		 1.80% 2.71% 3.04% 4.39% 2.38% 3.76% 7.83% 8.91%
Operating Expenses to Revenue		 101.10% 57.50% 45.67% 41.77% 39.00% 38.20% 42.43% 43.87%
Earnings before Interest and Taxes (EBIT)		 -0.07 6.99 23 66 114 173 183 179
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.84 8.66 30 93 158 233 248 251
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 1.38 1.33 1.31 2.17 3.27 1.23 1.35 0.99
Price to Tangible Book Value (P/TBV)		 1.38 1.33 1.31 2.17 3.29 1.24 1.35 0.99
Price to Revenue (P/Rev)		 12.54 20.31 16.16 29.08 27.96 8.58 8.22 5.91
Price to Earnings (P/E)		 0.00 59.25 31.56 50.99 46.38 15.67 15.92 11.81
Dividend Yield		 2.34% 3.51% 4.81% 3.02% 2.62% 8.28% 7.74% 11.28%
Earnings Yield		 0.00% 1.69% 3.17% 1.96% 2.16% 6.38% 6.28% 8.47%
Enterprise Value to Invested Capital (EV/IC)		 1.15 1.27 1.07 1.99 2.83 1.16 1.24 0.92
Enterprise Value to Revenue (EV/Rev)		 12.89 20.37 16.88 29.30 29.31 9.40 8.77 6.46
Enterprise Value to EBITDA (EV/EBITDA)		 100.45 38.65 24.31 35.56 34.61 11.26 11.22 8.21
Enterprise Value to EBIT (EV/EBIT)		 0.00 47.92 31.08 50.31 48.06 15.20 15.23 11.51
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 47.92 31.08 50.31 48.06 15.20 15.23 11.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.88 21.33 16.24 29.84 29.02 11.21 10.91 7.98
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 14.48 10.35
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.00 0.25 0.09 0.20 0.15 0.15 0.15
Long-Term Debt to Equity		 0.00 0.00 0.25 0.09 0.20 0.15 0.15 0.15
Financial Leverage		 0.00 0.00 0.17 0.13 0.15 0.18 0.15 0.15
Leverage Ratio		 1.07 1.07 1.26 1.21 1.23 1.26 1.23 1.23
Compound Leverage Factor		 1.07 1.07 1.26 1.21 1.23 1.26 1.23 1.23
Debt to Total Capital		 0.00% 0.00% 19.72% 8.23% 16.83% 13.32% 13.35% 13.33%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 19.72% 8.23% 16.83% 13.32% 13.35% 13.33%
Preferred Equity to Total Capital		 19.05% 5.30% 2.05% 0.84% 0.72% 0.62% 0.62% 1.06%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 80.95% 94.70% 78.22% 90.93% 82.45% 86.06% 86.03% 85.61%
Debt to EBITDA		 0.00 0.00 4.49 1.47 2.06 1.29 1.21 1.19
Net Debt to EBITDA		 0.00 0.00 0.58 0.11 1.51 0.91 0.64 0.60
Long-Term Debt to EBITDA		 0.00 0.00 4.49 1.47 2.06 1.29 1.21 1.19
Debt to NOPAT		 0.00 0.00 5.74 2.08 2.86 1.75 1.64 1.66
Net Debt to NOPAT		 0.00 0.00 0.74 0.16 2.10 1.23 0.87 0.85
Long-Term Debt to NOPAT		 0.00 0.00 5.74 2.08 2.86 1.75 1.64 1.66
Noncontrolling Interest Sharing Ratio		 10.46% 8.29% 3.45% 1.35% 0.89% 0.78% 0.72% 0.97%
Liquidity Ratios		 - - - - - - - -
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -184 -395 -913 -162 -153 193 199
Operating Cash Flow to CapEx		 84.84% 70.39% 53.07% 38.28% 50.39% 62.62% 170.26% 409.69%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -62.62 -122.90 -8.96 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 7.13 14.91 10.44 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -6.30 -24.05 -10.27 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.09 0.09 0.08 0.09 0.10 0.12 0.13 0.13
Fixed Asset Turnover		 0.14 0.17 0.16 0.21 0.22 0.18 0.16 0.15
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 74 264 683 1,662 1,938 2,263 2,254 2,234
Invested Capital Turnover		 0.09 0.10 0.09 0.10 0.10 0.13 0.14 0.14
Increase / (Decrease) in Invested Capital		 0.00 191 418 979 276 326 -9.54 -20
Enterprise Value (EV)		 85 335 730 3,307 5,478 2,625 2,788 2,063
Market Capitalization		 82 334 698 3,282 5,224 2,398 2,615 1,888
Book Value per Share		 $17.01 $25.60 $45.05 $68.14 $66.77 $69.63 $69.15 $67.50
Tangible Book Value per Share		 $17.01 $25.60 $45.05 $68.14 $66.39 $69.31 $68.86 $67.24
Total Capital		 74 264 683 1,662 1,938 2,263 2,254 2,234
Total Debt		 0.00 0.00 135 137 326 301 301 298
Total Long-Term Debt		 0.00 0.00 135 137 326 301 301 298
Net Debt		 -12 -13 17 11 240 213 159 152
Capital Expenditures (CapEx)		 5.91 22 85 290 375 374 150 63
Net Nonoperating Expense (NNE)		 0.02 0.00 0.00 0.00 0.00 18 17 18
Net Nonoperating Obligations (NNO)		 0.00 0.00 135 137 326 301 301 298
Total Depreciation and Amortization (D&A)		 0.92 1.67 6.54 27 44 60 65 72
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.13) $0.76 $0.00 $0.00 $4.69 $5.57 $5.82 $5.58
Adjusted Weighted Average Basic Shares Outstanding		 6.78M 7.14M 0.00 0.00 23.90M 27.35M 27.98M 28.23M
Adjusted Diluted Earnings per Share		 ($0.13) $0.75 $0.00 $0.00 $4.55 $5.52 $5.77 $5.52
Adjusted Weighted Average Diluted Shares Outstanding		 6.78M 7.29M 0.00 0.00 26.26M 27.66M 28.26M 28.53M
Adjusted Basic & Diluted Earnings per Share		 ($0.13) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.38M 9.81M 0.00 0.00 25.62M 28.00M 28.21M 28.33M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.05 4.89 16 46 82 118 128 128
Normalized NOPAT Margin		 -0.77% 29.75% 38.03% 40.76% 44.08% 42.36% 40.30% 40.05%
Pre Tax Income Margin		 -1.10% 42.50% 54.33% 58.23% 61.00% 61.80% 57.57% 56.13%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 3.72 8.85 6.30 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 3.72 8.85 6.30 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -9.71 -30.12 -14.41 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -9.71 -30.12 -14.41 0.00 0.00 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 -1,458.33% 114.23% 101.96% 116.87% 116.07% 120.02% 123.24% 132.09%
Augmented Payout Ratio		 -1,458.33% 114.23% 101.96% 116.87% 116.07% 120.02% 123.24% 132.09%

Quarterly Metrics and Ratios for Innovative Industrial Properties

This table displays calculated financial ratios and metrics derived from Innovative Industrial Properties' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 40.89% 62.69% 23.43% 18.30% 19.00% -0.47% -1.29% 6.33% -0.86% -2.12%
EBITDA Growth		 27.68% 80.84% 14.69% 11.82% 17.61% -10.39% 0.58% 3.69% 0.12% 0.30%
EBIT Growth		 25.00% 108.90% 17.24% 13.74% 22.09% -15.90% -4.05% 1.25% -2.79% -2.68%
NOPAT Growth		 25.00% 108.90% 17.24% 13.74% 22.09% -15.90% -4.05% 1.25% -2.79% -2.68%
Net Income Growth		 25.00% 44.97% 17.24% 2.62% 10.58% 0.31% -4.05% 1.75% -3.32% -3.86%
EPS Growth		 10.00% 29.20% 8.33% 1.41% 9.85% -0.68% -4.90% 0.00% -5.52% -6.90%
Operating Cash Flow Growth		 10.14% 15.83% 7.90% -0.54% 11.07% 19.38% 10.76% 3.95% 2.83% -12.52%
Free Cash Flow Firm Growth		 43.28% -7.39% -2.46% 123.77% 122.54% 122.51% 116.95% -19.70% -23.15% 15.11%
Invested Capital Growth		 16.73% 16.80% 15.78% -1.02% -0.83% -0.42% -0.26% -0.40% -0.23% -0.88%
Revenue Q/Q Growth		 0.83% 27.94% 8.97% 6.74% 1.43% 7.00% 0.71% 14.98% -5.43% 5.65%
EBITDA Q/Q Growth		 -3.64% 41.24% 5.82% 9.51% 1.35% 7.61% 4.59% 12.89% -2.14% 7.80%
EBIT Q/Q Growth		 -6.46% 58.99% 8.41% 11.31% 0.40% 9.52% 6.10% 17.46% -3.61% 9.65%
NOPAT Q/Q Growth		 -6.46% 58.99% 8.41% 11.31% 0.40% 9.52% 6.10% 17.46% -3.61% 9.65%
Net Income Q/Q Growth		 -6.46% 10.34% -1.00% 0.43% 0.79% 0.09% -5.30% 6.51% -4.23% -0.47%
EPS Q/Q Growth		 -7.04% 10.61% -2.05% 0.70% 0.69% 0.00% -6.21% 5.88% -4.86% -1.46%
Operating Cash Flow Q/Q Growth		 -8.54% -2.53% 16.73% -4.41% 2.13% 4.75% 8.30% -10.29% 1.03% -10.89%
Free Cash Flow Firm Q/Q Growth		 0.90% 7.54% 7.30% 125.86% -6.03% -7.67% -3.21% 22.51% -10.06% 38.30%
Invested Capital Q/Q Growth		 -0.38% -0.21% -0.24% -0.20% -0.19% 0.21% -0.07% -0.35% -0.01% -0.45%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 79.37% 87.61% 76.51% 78.50% 78.44% 78.88% 77.96% 76.55% 79.21% 80.83%
EBIT Margin		 56.02% 69.62% 55.68% 58.07% 57.48% 58.83% 54.12% 55.29% 56.36% 58.49%
Profit (Net Income) Margin		 56.02% 48.32% 55.68% 52.39% 52.06% 48.70% 54.12% 50.14% 50.77% 47.83%
Tax Burden Percent		 100.00% 69.40% 100.00% 90.22% 90.57% 82.77% 100.00% 90.67% 90.08% 81.77%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.55% 9.26% 7.28% 7.37% 7.64% 8.28% 7.19% 7.49% 7.62% 8.33%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.55% 3.43% 7.28% 5.88% 6.20% 5.41% 7.19% 6.04% 6.14% 5.35%
Return on Net Nonoperating Assets (RNNOA)		 1.38% 0.60% 1.22% 0.90% 0.95% 0.83% 1.10% 0.93% 0.94% 0.82%
Return on Equity (ROE)		 7.94% 9.86% 8.50% 8.27% 8.59% 9.11% 8.28% 8.41% 8.56% 9.15%
Cash Return on Invested Capital (CROIC)		 -8.72% -7.28% -7.18% 8.19% 8.39% 8.53% 7.53% 7.72% 7.49% 8.88%
Operating Return on Assets (OROA)		 6.09% 8.65% 6.78% 6.92% 7.16% 7.78% 6.74% 7.04% 7.16% 7.84%
Return on Assets (ROA)		 6.09% 6.00% 6.78% 6.25% 6.48% 6.44% 6.74% 6.39% 6.45% 6.41%
Return on Common Equity (ROCE)		 7.87% 9.79% 8.44% 8.21% 8.53% 9.05% 8.23% 8.35% 8.48% 9.06%
Return on Equity Simple (ROE_SIMPLE)		 7.19% 0.00% 8.19% 8.27% 8.49% 0.00% 8.38% 8.46% 8.39% 0.00%
Net Operating Profit after Tax (NOPAT)		 38 60 41 46 46 50 39 46 45 49
NOPAT Margin		 56.02% 69.62% 55.68% 58.07% 57.48% 58.83% 54.12% 55.29% 56.36% 58.49%
Net Nonoperating Expense Percent (NNEP)		 0.00% 5.83% 0.00% 1.49% 1.44% 2.88% 0.00% 1.45% 1.48% 2.98%
SG&A Expenses to Revenue		 4.20% 3.83% 7.62% 7.31% 7.91% 8.41% 9.21% 8.19% 9.21% 9.09%
Operating Expenses to Revenue		 43.98% 30.38% 44.32% 41.93% 42.52% 41.17% 45.88% 44.71% 43.64% 41.51%
Earnings before Interest and Taxes (EBIT)		 38 60 41 46 46 50 39 46 45 49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 53 75 56 62 63 67 57 64 63 68
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.10 1.23 0.99 0.98 1.03 1.35 1.47 1.60 0.00 0.99
Price to Tangible Book Value (P/TBV)		 1.10 1.24 0.99 0.98 1.03 1.35 1.48 1.61 0.00 0.99
Price to Revenue (P/Rev)		 8.71 8.58 6.99 6.60 6.61 8.22 9.53 10.16 0.00 5.91
Price to Earnings (P/E)		 15.32 15.67 12.09 11.84 12.09 15.92 17.55 18.95 0.00 11.81
Dividend Yield		 8.86% 8.28% 10.41% 10.64% 10.18% 7.74% 7.12% 6.72% 5.53% 11.28%
Earnings Yield		 6.53% 6.38% 8.27% 8.44% 8.27% 6.28% 5.70% 5.28% 0.00% 8.47%
Enterprise Value to Invested Capital (EV/IC)		 1.05 1.16 0.97 0.94 0.97 1.24 1.34 1.46 0.00 0.92
Enterprise Value to Revenue (EV/Rev)		 9.68 9.40 7.99 7.36 7.26 8.77 10.05 10.79 0.00 6.46
Enterprise Value to EBITDA (EV/EBITDA)		 11.95 11.26 10.07 9.41 9.30 11.22 13.02 14.06 0.00 8.21
Enterprise Value to EBIT (EV/EBIT)		 16.84 15.20 14.02 13.04 12.77 15.23 18.36 19.97 0.00 11.51
Enterprise Value to NOPAT (EV/NOPAT)		 16.84 15.20 14.02 13.04 12.77 15.23 18.36 19.97 0.00 11.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.52 11.21 9.21 8.87 8.91 10.91 11.47 12.40 0.00 7.98
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 11.41 11.50 14.48 17.74 18.92 0.00 10.35
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15
Long-Term Debt to Equity		 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15
Financial Leverage		 0.21 0.18 0.17 0.15 0.15 0.15 0.15 0.15 0.15 0.15
Leverage Ratio		 1.30 1.26 1.25 1.23 1.23 1.23 1.23 1.23 1.23 1.23
Compound Leverage Factor		 1.30 1.26 1.25 1.23 1.23 1.23 1.23 1.23 1.23 1.23
Debt to Total Capital		 13.28% 13.32% 13.28% 13.32% 13.36% 13.35% 13.18% 13.24% 13.26% 13.33%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 13.28% 13.32% 13.28% 13.32% 13.36% 13.35% 13.18% 13.24% 13.26% 13.33%
Preferred Equity to Total Capital		 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 1.05% 1.06%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 86.10% 86.06% 86.10% 86.06% 86.02% 86.03% 86.20% 86.14% 85.69% 85.61%
Debt to EBITDA		 1.51 1.29 1.37 1.33 1.28 1.21 1.28 1.27 1.27 1.19
Net Debt to EBITDA		 1.12 0.91 1.19 0.92 0.78 0.64 0.62 0.75 0.64 0.60
Long-Term Debt to EBITDA		 1.51 1.29 1.37 1.33 1.28 1.21 1.28 1.27 1.27 1.19
Debt to NOPAT		 2.13 1.75 1.91 1.85 1.76 1.64 1.81 1.81 1.82 1.66
Net Debt to NOPAT		 1.57 1.23 1.66 1.27 1.07 0.87 0.87 1.07 0.92 0.85
Long-Term Debt to NOPAT		 2.13 1.75 1.91 1.85 1.76 1.64 1.81 1.81 1.82 1.66
Noncontrolling Interest Sharing Ratio		 0.81% 0.78% 0.78% 0.71% 0.72% 0.72% 0.72% 0.72% 0.97% 0.97%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -287 -266 -267 69 65 60 45 55 50 69
Operating Cash Flow to CapEx		 226.62% 96.42% 97.86% 135.95% 349.58% 321.00% 433.60% 313.46% 749.58% 331.42%
Free Cash Flow to Firm to Interest Expense		 -63.69 0.00 -59.01 0.00 0.00 0.00 10.30 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 12.58 0.00 14.30 0.00 0.00 0.00 16.31 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 7.03 0.00 -0.31 0.00 0.00 0.00 12.55 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.11 0.12 0.12 0.12 0.12 0.13 0.12 0.13 0.13 0.13
Fixed Asset Turnover		 0.23 0.18 0.17 0.17 0.18 0.16 0.15 0.15 0.15 0.15
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,268 2,263 2,258 2,253 2,249 2,254 2,252 2,244 2,244 2,234
Invested Capital Turnover		 0.12 0.13 0.13 0.13 0.13 0.14 0.13 0.14 0.14 0.14
Increase / (Decrease) in Invested Capital		 325 326 308 -23 -19 -9.54 -5.77 -9.06 -5.16 -20
Enterprise Value (EV)		 2,383 2,625 2,199 2,117 2,180 2,788 3,010 3,284 0.00 2,063
Market Capitalization		 2,147 2,398 1,924 1,896 1,984 2,615 2,853 3,094 0.00 1,888
Book Value per Share		 $69.81 $69.63 $69.43 $69.17 $69.00 $69.15 $68.98 $68.24 $68.06 $67.50
Tangible Book Value per Share		 $69.48 $69.31 $69.11 $68.86 $68.69 $68.86 $68.69 $67.97 $67.79 $67.24
Total Capital		 2,268 2,263 2,258 2,253 2,249 2,254 2,252 2,244 2,244 2,234
Total Debt		 301 301 300 300 301 301 297 297 298 298
Total Long-Term Debt		 301 301 300 300 301 301 297 297 298 298
Net Debt		 223 213 261 206 182 159 143 176 150 152
Capital Expenditures (CapEx)		 25 57 66 45 18 21 17 20 8.65 17
Net Nonoperating Expense (NNE)		 0.00 18 0.00 4.47 4.33 8.67 0.00 4.32 4.43 8.93
Net Nonoperating Obligations (NNO)		 301 301 300 300 301 301 297 297 298 298
Total Depreciation and Amortization (D&A)		 16 15 15 16 17 17 17 18 18 19
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.33 $1.47 $1.45 $1.45 $1.46 $1.46 $1.37 $1.45 $1.38 $1.38
Adjusted Weighted Average Basic Shares Outstanding		 27.94M 27.35M 27.95M 27.98M 27.98M 27.98M 28.15M 28.25M 28.25M 28.23M
Adjusted Diluted Earnings per Share		 $1.32 $1.46 $1.43 $1.44 $1.45 $1.45 $1.36 $1.44 $1.37 $1.35
Adjusted Weighted Average Diluted Shares Outstanding		 28.16M 27.66M 28.22M 28.26M 28.27M 28.26M 28.46M 28.57M 28.58M 28.53M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 27.97M 28.00M 28.03M 28.04M 28.04M 28.21M 28.33M 28.33M 28.33M 28.33M
Normalized Net Operating Profit after Tax (NOPAT)		 26 39 29 32 32 35 28 35 31 34
Normalized NOPAT Margin		 39.22% 45.70% 38.98% 40.65% 40.23% 41.18% 37.89% 41.59% 39.45% 40.94%
Pre Tax Income Margin		 56.02% 69.62% 55.68% 58.07% 57.48% 58.83% 54.12% 55.29% 56.36% 58.49%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 8.34 0.00 9.09 0.00 0.00 0.00 8.98 0.00 0.00 0.00
NOPAT to Interest Expense		 8.34 0.00 9.09 0.00 0.00 0.00 8.98 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 2.78 0.00 -5.52 0.00 0.00 0.00 5.22 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 2.78 0.00 -5.52 0.00 0.00 0.00 5.22 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 120.68% 120.02% 122.98% 125.20% 123.19% 123.24% 125.09% 125.29% 128.50% 132.09%
Augmented Payout Ratio		 120.68% 120.02% 122.98% 125.20% 123.19% 123.24% 125.09% 125.29% 128.50% 132.09%

Frequently Asked Questions About Innovative Industrial Properties' Financials

When does Innovative Industrial Properties's fiscal year end?

According to the most recent income statement we have on file, Innovative Industrial Properties' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Innovative Industrial Properties' net income changed over the last 7 years?

Innovative Industrial Properties' net income appears to be on an upward trend, with a most recent value of $161.66 million in 2024, falling from -$72 thousand in 2017. The previous period was $165.59 million in 2023.

How has Innovative Industrial Properties revenue changed over the last 7 years?

Over the last 7 years, Innovative Industrial Properties' total revenue changed from $6.57 million in 2017 to $319.51 million in 2024, a change of 4,762.3%.

How much debt does Innovative Industrial Properties have?

Innovative Industrial Properties' total liabilities were at $441.99 million at the end of 2024, a 0.9% increase from 2023, and a 15,204.3% increase since 2016.

How much cash does Innovative Industrial Properties have?

In the past 8 years, Innovative Industrial Properties' cash and equivalents has ranged from $11.76 million in 2017 to $146.25 million in 2024, and is currently $146.25 million as of their latest financial filing in 2024.

How has Innovative Industrial Properties' book value per share changed over the last 7 years?

Over the last 7 years, Innovative Industrial Properties' book value per share changed from 17.01 in 2017 to 67.50 in 2024, a change of 296.9%.

Remove Ads

Related Companies

This page (NYSE:IIPR) was last updated on 4/15/2025 by MarketBeat.com Staff
From Our Partners
Get Your Bank Account “Fed Invasion” Ready with THESE 4 Simple Steps
Starting as soon as a few months from now, the United States government will make a sweeping change to bank ac...
Weiss Ratings | Sponsored
Elon Musk Confirms: Tesla’s Optimus is Replacing Workers… and Heading to Mars
Elon Musk just confirmed Tesla’s robot will go to Mars. But on Earth, it may trigger a trillion-dollar tech sh...
InvestorPlace | Sponsored
Trump to redistribute trillions of dollars
Trump’s Final Reset Inside the shocking plot to re-engineer America’s financial system…and why you need to ...
Porter & Company | Sponsored
Collect $7k per month from Tesla’s SECRET dividend
Tesla doesn't pay a traditional dividend.... But I just discovered a secret backdoor to collect a secret 69...
Investors Alley | Sponsored
DOGE tax surprise
Elon Musk's DOGE agents have some very strange plans for the IRS... Recently, it emerged that our tax auth...
Altimetry | Sponsored
Amazon Shocker
Jeff Bezos quietly backing world-changing tech (not AI) The Amazon founder is quietly advancing a radical t...
Stansberry Research | Sponsored
Caught on Camera: Elon Musk’s “Area 51”
You won’t believe what tech legend Jeff Brown found in what he calls Elon Musk’s “Area 51.” (Click here to see...
Brownstone Research | Sponsored
Three new patents reveal Elon and Trump’s secret “Project America”
Right now for a limited time… You can get Tim Bohen’s top 5 Trump stocks for 2025… For only ONE DOLLAR!...
Timothy Sykes | Sponsored