NYSE · REAL ESTATE · LARGE CAP
Innovative Industrial Properties, Inc. IIPR
9 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$266.0M
▼ 13.8% vs FY2024
EPS · FY25
—
Dividend / sh · FY25
—
Payout · FY25
183%
ROE · FY25
6.2%
Net margin · FY25
44.5%
Dividend coverage
-0.2×
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Result
USD 266.0M
Revenue, FY2025 · full 9-year series below
Revenue
Net income
44 cents of every revenue dollar became profit this year.
Per share
—
Diluted EPS, FY2025
EPS
Dividend
The dividend was paid in a year without profit.
Profitability
6.2%
Return on equity, FY2025
ROE
Operating margin46.7%
Net margin44.5%
Return on assets5.0%
Each USD of equity produced 6 cents of profit this year.
Returned to shareholders
USD 236.4M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 216.3M
Net buybacksUSD 20.1M
Share of profit199.9%
Consecutive raises—
USD 216.3M in dividends and USD 20.1M in buybacks — 200% of the year's profit, so the payout drew on cash built up earlier.
Growth
+17.9% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−1.3%
+17.9%
Net income
−8.5%
+12.5%
EPS, diluted
−10.7%
+3.7%
Returned to shareholders
+8.7%
+25.7%
Compound annual rates per period — left blank where the series crosses a loss.
Share base
—
Shares outstanding, FY2025
Change, 5 years+17.1%
Change, 10 years—
The share count grew 17% in five years — the same company, cut into more, smaller slices.
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Balance sheet
USD 2.4B
total assets, end of FY2025
Total assetsUSD 2.4B
EquityUSD 1.8B
CashUSD 47.6M
Gross debtUSD 393.7M
Net debtUSD 346.1M
Net debt stands at 19% of equity.
History
9 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue $B
0.3
0.3
0.3
0.3
0.2
0.1
0.0
0.0
0.0
Operating income $B
0.1
0.2
0.2
0.2
0.1
0.1
0.0
0.0
−0.0
EBITDA $B
0.2
0.2
0.2
0.2
0.2
0.1
0.0
0.0
0.0
Income tax $B
·
·
·
·
·
·
·
·
·
Net income $B
0.1
0.2
0.2
0.2
0.1
0.1
0.0
0.0
−0.0
EPS, diluted $
·
·
·
·
·
·
·
·
·
Dividend / sh $
·
·
·
·
·
·
·
·
0.55
Payout %
183
131
122
119
115
115
96
95
−1458
ROE %
6.2
8.3
8.5
8.6
7.3
6.3
5.8
4.1
−0.1
Shares out B
·
·
·
·
·
·
·
·
·
Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.
How we verifyAUDITED
16 of 18
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity
Every figure was compared against the original statement: 0 failures and 2 presentation gaps.
What we don’t show
We’d rather say what’s missing than fill the gap with an estimate.
P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed