IIPR - Innovative Industrial Properties, Inc.
Price:
--
--
|
CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$84.67
DETAILS
HIGH:
$150.00
LOW:
$44.00
MEDIAN:
$60.00
CONSENSUS:
$84.67
UPSIDE:
48.39%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Revenue | 266.0 | 308.5 | 309.5 | 276.4 | 204.6 | 116.9 | 44.7 | 14.8 | 6.4 | 0.3 | 5.6 |
| Cost of Revenue | 30.2 | 28.5 | 24.9 | 10.5 | 4.4 | 5.0 | 1.3 | 0.4 | 0.1 | 0.1 | 0 |
| Gross Profit | 235.8 | 280.0 | 284.6 | 265.8 | 200.1 | 111.9 | 43.4 | 14.3 | 6.3 | 0.2 | 5.6 |
| Operating Expenses | |||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) | 0 |
| SG&A Expenses | 33.7 | 37.4 | 42.8 | 38.5 | 23.0 | 14.2 | 9.8 | 6.4 | 5.5 | 0.8 | 0 |
| Other Expenses | 77.9 | 74.3 | 67.2 | 57.7 | 41.8 | 28.0 | 8.6 | 2.6 | 0.9 | 0.1 | 0 |
| Operating Expenses | 111.7 | 111.7 | 110.0 | 96.2 | 64.7 | 42.2 | 18.4 | 9.0 | 6.4 | 0.9 | 0.6 |
| Operating Income | |||||||||||
| Operating Income | 124.1 | 168.3 | 174.6 | 169.6 | 135.4 | 69.7 | 24.9 | 5.3 | (0.2) | (4.4) | 5.0 |
| Interest Expense | 20.2 | 16.3 | 16.1 | 18.3 | 18.1 | 7.4 | 6.3 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 11.0 | 7.1 | 3.2 | 0.4 | 3.4 | 4.8 | 1.6 | 0.2 | 0 | 0 |
| Profitability | |||||||||||
| EBITDA | 208.7 | 248.7 | 248.9 | 232.6 | 172.1 | 100.2 | 37.6 | 8.0 | 0.8 | (1.2) | 5.6 |
| EBIT | 134.6 | 177.9 | 181.7 | 171.3 | 130.4 | 72.2 | 29.0 | 7.0 | (0.2) | (0.7) | 5.0 |
| Income Before Tax | 114.4 | 161.7 | 165.6 | 154.4 | 114.0 | 65.7 | 23.5 | 7.0 | (0.1) | (4.4) | 5.0 |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | 114.4 | 161.7 | 165.6 | 154.4 | 114.0 | 65.7 | 23.5 | 7.0 | (0.1) | (4.4) | 5.0 |
| Per Share Data | |||||||||||
| EPS (Basic) | 3.98 | 5.58 | 5.82 | 5.57 | 4.69 | 3.28 | 1.63 | 0.98 | -0.02 | -4.56 | 2.89 |
| EPS (Diluted) | 3.93 | 5.52 | 5.77 | 5.52 | 4.55 | 3.27 | 1.61 | 0.96 | -0.02 | -4.56 | 2.89 |
| Shares Outstanding | 28.0 | 28.2 | 28.0 | 27.3 | 23.9 | 19.4 | 10.5 | 7.1 | 3.4 | 1.0 | 1.7 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 47.6 | 146.2 | 140.2 | 87.1 | 81.1 | 126.0 | 82.2 | 13.1 | 11.8 | 33.0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 16.8 | 22.8 | 22 | 18.0 | 12.9 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | (16.8) | 0 | 1.4 | 1.4 | 5.3 | 0 | 35.1 | 0 | (0.5) | 0 |
| Total Current Assets | 47.6 | 169.0 | 163.7 | 106.6 | 99.3 | 126.0 | 117.3 | 13.1 | 11.8 | 33.3 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 0.5 | 0.9 | 1.4 | 1.7 | 1.1 | 1.0 | 1.2 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 6.4 | 7.4 | 8.2 | 9.1 | 9.1 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 2,288.9 | 5 | 21.9 | 200.9 | 324.9 | 619.3 | 119.6 | 120.4 | 0 | 0 |
| Other Non-Current Assets | (2,288.9) | 2,195.7 | 2,195.8 | 2,096.5 | 1,650.2 | 1,021.8 | 507.7 | 148.0 | 68.3 | 30.0 |
| Total Non-Current Assets | 6.9 | 2,209.0 | 2,227.4 | 2,308.2 | 1,985.3 | 1,642.1 | 628.5 | 268.4 | 68.3 | 30.0 |
| Total Assets | 2,370.9 | 2,378.0 | 2,391.1 | 2,414.8 | 2,084.6 | 1,768.1 | 745.9 | 281.5 | 80.0 | 63.3 |
| Current Liabilities | ||||||||||
| Account Payables | 13.8 | 20.8 | 21.0 | 40.0 | 54.0 | 41.1 | 28.4 | 4.4 | 1.1 | 0.1 |
| Short-Term Debt | 319.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 50.3 | 57.2 | 59.4 | 58.7 | 52.8 | 34.2 | 20.6 | 9.0 | 4.2 | 2.5 |
| Other Current Liabilities | (119.1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 319.3 | 132.8 | 132.2 | 149.5 | 145.6 | 105.4 | 62.0 | 17.2 | 6.4 | 2.6 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 74.4 | 297.9 | 300.9 | 301.5 | 326.1 | 136.7 | 134.7 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 129.2 | 11.3 | 5.1 | 1.9 | 1.2 | (34.2) | (20.6) | (9.0) | (4.1) | (2.3) |
| Total Non-Current Liabilities | 203.6 | 309.2 | 305.9 | 303.4 | 327.3 | 137.8 | 135.9 | 0 | 0.0 | 0.3 |
| Total Liabilities | 522.9 | 442.0 | 438.1 | 452.9 | 472.9 | 243.1 | 197.8 | 17.2 | 6.5 | 2.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (313.0) | (211.7) | (156.9) | (117.4) | (75.2) | (48.1) | (19.9) | (10.3) | (4.5) | (4.4) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 1,848.0 | 1,936.1 | 1,953.0 | 1,961.9 | 1,611.7 | 1,525.0 | 548.0 | 264.3 | 73.5 | 60.4 |
| Total Liabilities & Equity | 2,370.9 | 2,378.0 | 2,391.1 | 2,414.8 | 2,084.6 | 1,768.1 | 745.9 | 281.5 | 80.0 | 63.3 |
| Debt Metrics | ||||||||||
| Total Debt | 393.7 | 297.9 | 300.9 | 301.5 | 326.1 | 137.8 | 135.9 | 0 | 0 | 0 |
| Net Debt | 346.1 | 151.6 | 160.6 | 214.4 | 245.0 | 11.7 | 53.6 | (13.1) | (11.8) | (33.0) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 114.4 | 161.7 | 165.6 | 154.4 | 114.0 | 65.7 | 23.5 | 7.0 | (0.1) | (4.4) |
| Depreciation & Amortization | 74.1 | 70.8 | 67.2 | 61.3 | 41.8 | 28.0 | 8.6 | 2.6 | 0.9 | 0.0 |
| Stock-Based Compensation | 10.1 | 17.3 | 19.6 | 17.5 | 8.6 | 3.3 | 2.5 | 1.5 | 1.7 | 0.1 |
| Change in Working Capital | (9.0) | 3.9 | 4.9 | (215.7) | 18.1 | 14.3 | 12.4 | 5.6 | 2.5 | 2.3 |
| Other Non-Cash Items | 8.6 | 4.7 | (1.7) | 216.6 | 6.3 | 2.2 | 1.7 | (1.0) | 2.6 | 3.7 |
| Operating Cash Flow | 198.2 | 258.4 | 255.5 | 234.1 | 188.7 | 110.8 | 44.9 | 15.7 | 5.0 | 1.7 |
| Investing Activities | ||||||||||
| Capital Expenditure | (23.4) | 0 | 0 | (373.9) | 0 | (529.8) | (343.9) | (22.3) | (5.9) | (30.0) |
| Acquisitions | 0 | 0 | 0 | 373.9 | 0 | (0.2) | (0.7) | 0 | 0 | 0 |
| Purchases of Investments | (5.3) | (45.1) | (150.8) | (538.9) | (569.8) | (1,077.9) | (255.7) | (185.0) | (32.7) | (30.0) |
| Sales/Maturities of Investments | 10.3 | 62.6 | 294.1 | 515 | 864.5 | 581.0 | 260.2 | 65.5 | 0 | 0 |
| Other Investing Activities | (179.3) | (73.5) | (150.1) | (372.3) | (678.8) | (0.2) | (0.7) | (79.8) | (38.6) | (51.5) |
| Investing Cash Flow | (174.3) | (56.0) | (6.8) | (396.2) | (384.1) | (1,027.1) | (340.6) | (199.3) | (38.6) | (30.0) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 93.8 | (4.4) | 0 | 0 | 300 | 0 | 138.5 | 0 | 0 | 0 |
| Stock Repurchased | (20.1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.3) | (0.0) |
| Dividends Paid | (219.5) | (213.5) | (204.1) | (185.3) | (132.3) | (76.8) | (23.9) | (8.0) | (1.1) | 0 |
| Other Financing Activities | (0.9) | (1.3) | (1.1) | (2.4) | (11.9) | (2.2) | (0.9) | (0.4) | (0.6) | 61.3 |
| Financing Cash Flow | (122.5) | (197.9) | (195.6) | 164.2 | 155.8 | 925.0 | 400.0 | 184.9 | 12.4 | 61.3 |
| Cash Position | ||||||||||
| Net Change in Cash | (98.6) | 4.5 | 53.1 | 2.2 | (39.6) | 8.7 | 104.3 | 1.3 | (21.2) | 33.0 |
| Cash at Beginning | 146.2 | 141.7 | 88.6 | 86.4 | 126.0 | 117.3 | 13.1 | 11.8 | 33.0 | 0 |
| Cash at End | 47.6 | 146.2 | 141.7 | 88.6 | 86.4 | 126.0 | 117.3 | 13.1 | 11.8 | 33.0 |
| Free Cash Flow | 174.8 | 258.4 | 255.5 | (139.7) | 188.7 | (419.0) | (299.0) | (6.6) | (0.9) | (28.3) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 266.0 | 308.5 | 309.5 | 276.4 | 204.6 | 116.9 | 44.7 | 14.8 | 6.4 | 0.3 | 5.6 |
| Gross Profit | 235.8 | 280.0 | 284.6 | 265.8 | 200.1 | 111.9 | 43.4 | 14.3 | 6.3 | 0.2 | 5.6 |
| Operating Income | 124.1 | 168.3 | 174.6 | 169.6 | 135.4 | 69.7 | 24.9 | 5.3 | (0.2) | (4.4) | 5.0 |
| Net Income | 114.4 | 161.7 | 165.6 | 154.4 | 114.0 | 65.7 | 23.5 | 7.0 | (0.1) | (4.4) | 5.0 |
| EPS (Diluted) | 3.93 | 5.52 | 5.77 | 5.52 | 4.55 | 3.27 | 1.61 | 0.96 | -0.02 | -4.56 | 2.89 |
| Balance Sheet | |||||||||||
| Cash & Equivalents | 47.6 | 146.2 | 140.2 | 87.1 | 81.1 | 126.0 | 82.2 | 13.1 | 11.8 | 33.0 | |
| Total Assets | 2,370.9 | 2,378.0 | 2,391.1 | 2,414.8 | 2,084.6 | 1,768.1 | 745.9 | 281.5 | 80.0 | 63.3 | |
| Total Debt | 393.7 | 297.9 | 300.9 | 301.5 | 326.1 | 137.8 | 135.9 | 0 | 0 | 0 | |
| Stockholders' Equity | 1,848.0 | 1,936.1 | 1,953.0 | 1,961.9 | 1,611.7 | 1,525.0 | 548.0 | 264.3 | 73.5 | 60.4 | |
| Cash Flow | |||||||||||
| Operating Cash Flow | 198.2 | 258.4 | 255.5 | 234.1 | 188.7 | 110.8 | 44.9 | 15.7 | 5.0 | 1.7 | |
| Capital Expenditure | (23.4) | 0 | 0 | (373.9) | 0 | (529.8) | (343.9) | (22.3) | (5.9) | (30.0) | |
| Free Cash Flow | 174.8 | 258.4 | 255.5 | (139.7) | 188.7 | (419.0) | (299.0) | (6.6) | (0.9) | (28.3) | |