IIPR vs VTMX
Innovative Industrial Properties Inc. and Vesta Real Estate Corporation, S.a.b. de C.v., side by side — 5 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | IIPR | VTMX |
|---|---|---|
| Revenue | $266.0M | $283.2M |
| Net income | $118.2M | $241.9M |
| Gross margin | 98.6% | · |
| Net margin | 44.5% | 85.4% |
| Return on equity | 6.2% | 9.1% |
| Diluted EPS | $3.93 | $0.28 |
| Dividend / share | · | · |
| Payout ratio | 182.9% | 28.2% |
| Free cash flow | · | $206.4M |
| Equity | $1.8B | $2.7B |
| Net debt / equity | 0.19× | 0.35× |
| Current ratio | · | 4.84× |
| Revenue CAGR 5y | 17.9% | · |
| Profit CAGR 5y | 12.5% | · |
IIPR and VTMX book revenue within 15% of each other, and VTMX keeps more of each dollar of revenue as profit (85.4% against 44.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
5 years side by side
| Fiscal year | IIPR | VTMX |
|---|---|---|
| FY2025 | $266.0M | $283.2M |
| FY2024 | $308.5M | $252.3M |
| FY2023 | $309.5M | $214.5M |
| FY2022 | $276.4M | $178.0M |
| FY2021 | $204.6M | $160.8M |
Bottom line
| Fiscal year | IIPR | VTMX |
|---|---|---|
| FY2025 | $118.2M | $241.9M |
| FY2024 | $161.7M | $223.3M |
| FY2023 | $165.6M | $316.6M |
| FY2022 | $154.4M | $243.6M |
| FY2021 | $114.0M | $173.9M |
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$17,269,807 | VTMX |
| FY2024 | +$56,189,878 | IIPR |
| FY2023 | +$95,038,388 | IIPR |
| FY2022 | +$98,333,539 | IIPR |
| FY2021 | +$43,764,642 | IIPR |
The higher-revenue side has changed between IIPR and VTMX over this period. The gap has narrowed since the earliest year compared.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −40.9 pp | VTMX |
| FY2024 | −36.1 pp | VTMX |
| FY2023 | −94.1 pp | VTMX |
| FY2022 | −81.0 pp | VTMX |
| FY2021 | −52.5 pp | VTMX |
VTMX has kept the higher net margin in every one of these 5 fiscal years.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VTMX's net margin has been more volatile than IIPR's over the 5 comparable fiscal years — 25.1 percentage points of standard deviation against 4.2.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
VTMX led in net margin in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VTMX's return on equity has been more volatile than IIPR's over the 5 comparable fiscal years — 3.0 percentage points of standard deviation against 0.9.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
VTMX led in return on equity in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 9 comparable fiscal years — a year missing data on either side is not counted.