20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Innovative Industrial Properties Inc (IIPR) operates in the REIT - INDUSTRIAL industry and is headquartered in San Diego, United States with about 24 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, IIPR reported $266M in revenue and $114M in net income.
Innovative Industrial Properties, Inc. is an internally managed real estate investment trust focused on the acquisition, ownership and management of specialized industrial properties and financial investments in the life science industry.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $264M | $266M | $309M | $310M | $276M | $205M | $117M | $45M | $15M | $6M | $0M | $6M |
| Gross Profit | $166M | $236M | $280M | $285M | $266M | $200M | $112M | $43M | $14M | $6M | $0M | $6M |
| Gross Margin % | 62.9% | 88.6% | 90.8% | 92.0% | 96.2% | 97.8% | 95.8% | 97.1% | 97.0% | 98.2% | 72.9% | 100.0% |
| Operating Income (EBIT) | $138M | $124M | $168M | $175M | $170M | $135M | $70M | $25M | $5M | $0M | ($4M) | $5M |
| Operating Margin % | 52.3% | 46.7% | 54.6% | 56.4% | 61.4% | 66.2% | 59.7% | 55.8% | 36.1% | -3.5% | -1368.2% | 88.6% |
| Net Income | $138M | $114M | $162M | $166M | $154M | $114M | $66M | $23M | $7M | $0M | ($4M) | $5M |
| Net Margin % | 52.3% | 43.0% | 52.4% | 53.5% | 55.9% | 55.7% | 56.2% | 52.6% | 47.2% | -1.1% | -1368.2% | 88.6% |
| EBITDA | $238M | $209M | $249M | $249M | $233M | $172M | $100M | $38M | $8M | $1M | ($1M) | $6M |
| Earnings Per Share (EPS) | $4.77 | $4.03 | $5.67 | $5.86 | $5.58 | $4.34 | $3.36 | $2.20 | $0.96 | $-0.02 | $-4.56 | $2.89 |
| Shares Outstanding (M) | 30M | 28M | 29M | 28M | 28M | 26M | 20M | 11M | 7M | 3M | 1M | 2M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $63M | $69M | $67M | $65M | $63M | $72M | $77M | $77M |
| Gross Profit | $63M | $24M | $22M | $57M | $56M | $64M | $69M | $69M |
| Gross Margin % | 100.0% | 35.1% | 32.4% | 87.7% | 89.1% | 89.7% | 90.1% | 90.5% |
| Operating Income (EBIT) | $44M | $32M | $32M | $29M | $29M | $34M | $42M | $42M |
| Operating Margin % | 69.3% | 47.1% | 48.3% | 45.5% | 46.0% | 47.4% | 54.7% | 54.8% |
| Net Income | $44M | $33M | $32M | $29M | $26M | $31M | $40M | $40M |
| Net Margin % | 69.3% | 47.5% | 47.8% | 45.3% | 41.4% | 43.3% | 52.1% | 52.5% |
| EBITDA | $71M | $58M | $57M | $52M | $49M | $54M | $61M | $63M |
| Earnings Per Share (EPS) | $1.46 | $1.15 | $1.12 | $1.04 | $0.92 | $1.09 | $1.40 | $1.41 |
| Shares Outstanding (M) | 30M | 28M | 28M | 28M | 28M | 29M | 29M | 29M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $196M | $198M | $258M | $256M | $234M | $189M | $111M | $45M | $16M | $5M | $2M | $3M |
| Capital Expenditures (CapEx) | $66M | $23M | $82M | $150M | $524M | $662M | $530M | $344M | $22M | $6M | $30M | $6M |
| Free Cash Flow (FCF) | $130M | $175M | $177M | $105M | ($290M) | ($473M) | ($419M) | ($299M) | ($7M) | ($1M) | ($28M) | ($3M) |
| FCF Margin % | 49.5% | 65.7% | 57.3% | 34.1% | -104.9% | -231.4% | -358.4% | -669.4% | -44.6% | -14.0% | -8828.4% | -53.5% |
| Dividends Paid | $221M | $220M | $214M | $204M | $184M | $132M | $77M | $24M | $8M | $1M | $1M | $1M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $45M | $56M | $50M | $46M | $48M | $54M | $58M | $65M |
| Capital Expenditures (CapEx) | $3M | $3M | $31M | $29M | $8M | $17M | $17M | $37M |
| Free Cash Flow (FCF) | $42M | $53M | $19M | $17M | $41M | $37M | $40M | $28M |
| FCF Margin % | 66.3% | 76.9% | 27.9% | 25.9% | 65.1% | 52.1% | 52.6% | 36.4% |
| Dividends Paid | $57M | $55M | $55M | $55M | $55M | $55M | $55M | $55M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B | $2.4B | $2.4B | $2.4B | $2.4B | $2.1B | $1.8B | $746M | $281M | $80M | $63M |
| Cash & Cash Equivalents | $205M | $48M | $146M | $140M | $87M | $81M | $126M | $82M | $13M | $12M | $33M |
| Total Liabilities | $730M | $523M | $442M | $438M | $453M | $473M | $243M | $198M | $17M | $6M | $3M |
| Total Debt (Short + Long-Term) | $609M | $610M | $298M | $305M | $603M | $652M | $273M | $269M | $0M | $0M | $6.9B |
| Total Shareholders' Equity | $1.9B | $1.8B | $1.9B | $2.0B | $2.0B | $1.6B | $1.5B | $548M | $264M | $74M | $60M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive IIPR viewer.
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