IIPR
Innovative Industrial Properties Inc
NYSE: IIPR · REAL ESTATE · REIT - INDUSTRIAL
$56.49
-1.40% today
Updated 2026-05-11
Market cap
$1.56B
P/E ratio
13.87
P/S ratio
5.85x
EPS (TTM)
$3.93
Dividend yield
14.00%
52W range
$41 – $58
Volume
0.3M
Innovative Industrial Properties Inc (IIPR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.63M | $321000.00 | $6.42M | $14.79M | $44.67M | $116.90M | $204.55M | $276.36M | $309.51M | $308.52M | $265.95M |
| Revenue growth (YoY) | — | -94.3% | +1900.0% | +130.3% | +202.1% | +161.7% | +75.0% | +35.1% | +12.0% | -0.3% | -13.8% |
| Cost of revenue | $0.00 | $87000.00 | $118000.00 | $445000.00 | $1.31M | $4.95M | $4.44M | $10.52M | $24.89M | $28.47M | $30.18M |
| Gross profit | $5.63M | $234000.00 | $6.30M | $14.34M | $43.35M | $111.94M | $200.11M | $265.84M | $284.61M | $280.05M | $235.78M |
| Gross margin | 100.0% | 72.9% | 98.2% | 97.0% | 97.1% | 95.8% | 97.8% | 96.2% | 92.0% | 90.8% | 88.7% |
| R&D | — | $13.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $1.53M | $828000.00 | $5.50M | $6.38M | $9.82M | $14.18M | $22.96M | $38.52M | $42.83M | $37.44M | $33.73M |
| Operating income | $4.99M | $-4.39M | $-223000.00 | $5.34M | $24.93M | $69.74M | $135.37M | $169.62M | $174.59M | $168.34M | $124.12M |
| Operating margin | 88.6% | -1368.2% | -3.5% | 36.1% | 55.8% | 59.7% | 66.2% | 61.4% | 56.4% | 54.6% | 46.7% |
| EBITDA | $5.63M | $-1.22M | $805000.00 | $7.97M | $37.60M | $100.24M | $172.15M | $232.64M | $248.88M | $248.72M | $208.70M |
| EBITDA margin | 100.0% | -380.2% | 12.5% | 53.9% | 84.2% | 85.8% | 84.2% | 84.2% | 80.4% | 80.6% | 78.5% |
| EBIT | $4.99M | $-5.93M | $-5.84M | $-1.48M | $29.00M | $72.21M | $130.37M | $171.34M | $181.68M | $177.91M | $134.63M |
| Interest expense | $0.00 | $0.00 | $151000.00 | $1.65M | $6.31M | $7.43M | $18.09M | $18.30M | $16.10M | $16.26M | $20.20M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $4.99M | $-4.39M | $-72000.00 | $6.99M | $23.48M | $65.73M | $113.99M | $154.39M | $165.59M | $161.66M | $114.44M |
| Net income growth (YoY) | — | -188.1% | +98.4% | +9801.4% | +236.1% | +180.0% | +73.4% | +35.4% | +7.3% | -2.4% | -29.2% |
| Profit margin | 88.6% | -1368.2% | -1.1% | 47.2% | 52.6% | 56.2% | 55.7% | 55.9% | 53.5% | 52.4% | 43.0% |