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MARKETS / NYSE / MDV
NYSE · REAL ESTATE INVESTMENT TRUSTS · SMALL CAP

Modiv Industrial, Inc. MDV

10 fiscal years on record · USD · FY2025 reported · SEC filings only
$46.4M
▼ 0.8% YoY
$1.1M
▼ 82.3% YoY
$11.1M
▼ 32.5% YoY
In brief

What this company does

Modiv Industrial, Inc. ("Modiv") is an internally-managed Maryland corporation that acquires, owns and manages a portfolio of single-tenant net-lease properties throughout the United States, with a focus on critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains. Modiv also owns three non-core, legacy retail and office real estate properties, and is gradually reducing its non-core exposure, subject to market conditions, as it furthers its focus as a pure-play industrial manufacturing real estate investment trust ("REIT"). Modiv has operated as a REIT for U.S. federal income tax purposes beginning with the year ended December 31, 2016. Its Class C common stock, $0.001 par value per share (the "Class C Common Stock"), is listed on the New York Stock Exchange (the "NYSE") under the symbol "MDV." Its current business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of commercial real estate assets, primarily utilized for industrial manufacturing, as well as a few non-core assets. As of December 31, 2025, the Company had nine total employees, all of which are full-time employees.

Written from the business description in Modiv Industrial, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 March 2026. Every sentence was checked against that document before publication.

Growth
USD 46.4M
Revenue, FY2025 · full 10-year series below
Revenue $M Net income $M
FY2025 · Revenue 46.4 · Net income 1.1
20M40M-20M-40M2016201720182019202020212022202320242025
Compound annual growth
+0.2%
+3.7%
−4.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +3.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
1 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 34.1% · Net 1.2%
20%40%-50%-100%2016201720182019202020212022202320242025
ROE
FY2025 · ROE 0.6%
1%2%3%-10%-20%-30%2016201720182019202020212022202320242025

Each USD of equity produced 1 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 11.1
-80M-160M2016201720182019202020212022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks -2.8
8.0M16.0M-25.0M-50.0MDividendsNet buybacks2016201720182019202020212022202320242025

Total assetsUSD 476.5M
EquityUSD 162.7M
CashUSD 14.4M
Gross debtUSD 261.5M
Net debtUSD 247.1M

Net debt stands at 152% of equity.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016
Revenue $B0.00.00.00.00.00.00.00.00.00.0
Operating income $B0.00.00.00.0−0.0−0.0−0.0···
EBITDA $B··········
Income tax $B··········
Net income $B0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B0.00.00.00.0−0.00.0−0.2−0.1−0.1−0.0
EPS, diluted $−0.310.25−1.36−0.93−0.20−6.14−0.88−0.16−0.15−2.89
Dividend / sh $1.171.15···1.462.110.700.700.32
Payout %····−798−10−91−92−84−4
ROE %0.63.6−4.3−2.0−0.3−30.5−3.0−2.0−1.7−11.0
Shares out B·········0.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 1 failures in 32 reconciliationsAUDITED

Reconciled in 10 of 19 fiscal years. 37 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2015

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