First Indl Rlty Tr Inc Financials

Source SEC Filings (10-K/10-Q) Updated Feb 11, 2026 Currency USD FYE February

This page shows First Indl Rlty Tr Inc (FR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

4/9

First Indl Rlty Tr Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.86x

For every $1 of reported earnings, First Indl Rlty Tr Inc generates $1.86 in operating cash flow ($461K OCF vs $247K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$727K

YoY-99.9%

5Y CAGR-72.3%

First Indl Rlty Tr Inc generated $727K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$247K

YoY-99.9%

5Y CAGR-73.7%

10Y CAGR-43.4%

First Indl Rlty Tr Inc reported $247K in net income in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EPS (Diluted)

$1.87

YoY-13.8%

5Y CAGR+4.1%

10Y CAGR+11.0%

First Indl Rlty Tr Inc earned $1.87 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 13.8% from the prior year.

Cash & Debt

$78K

YoY-99.8%

5Y CAGR-78.3%

10Y CAGR-32.5%

First Indl Rlty Tr Inc held $78K in cash against $9K in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.28

YoY-13.5%

5Y CAGR+5.1%

10Y CAGR+9.6%

First Indl Rlty Tr Inc paid $1.28 per share in dividends in fiscal year 2025. This represents a decrease of 13.5% from the prior year.

Shares Outstanding

133M

YoY+0.1%

5Y CAGR+0.5%

10Y CAGR+1.8%

First Indl Rlty Tr Inc had 133M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

34.0%

YoY-8.9pp

5Y CAGR-9.7pp

First Indl Rlty Tr Inc's net profit margin was 34.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.9 percentage points from the prior year.

Return on Equity

9.3%

YoY-1.5pp

5Y CAGR-1.0pp

10Y CAGR+2.4pp

First Indl Rlty Tr Inc's ROE was 9.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$727K-99.9%	$669.6M+9.1%	$614.0M+13.7%	$539.9M+13.4%	$476.3M+6.3%	$448.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$42K-99.9%	$40.9M+10.3%	$37.1M+9.3%	$34.0M-1.8%	$34.6M+5.4%	$32.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$442	N/A	N/A	N/A	N/A	N/A
Income Tax	$15K-99.7%	$6.1M-30.1%	$8.7M-62.8%	$23.4M+378.8%	$4.9M+102.6%	$2.4M
Net Income	$247K-99.9%	$287.6M+4.6%	$274.8M-23.5%	$359.1M+32.5%	$271.0M+38.3%	$196.0M
EPS (Diluted)	$1.87-13.8%	$2.17+4.8%	$2.07-23.9%	$2.72+30.1%	$2.09+36.6%	$1.53

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$188.4M+3.8%	$181.4M+0.7%	$180.2M+1.7%	$177.1M+0.8%	$175.6M+4.7%	$167.6M+2.1%	$164.1M+1.1%	$162.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$9.1M+6.0%	$8.6M+1.4%	$8.4M-46.9%	$15.9M+54.3%	$10.3M+11.6%	$9.2M-4.1%	$9.6M-18.3%	$11.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$9.1M+4645.3%	$192K+143.0%	$79K-98.7%	$5.9M+404.7%	$1.2M-64.6%	$3.3M+674.9%	$426K-63.9%	$1.2M
Net Income	$78.8M+20.7%	$65.3M+18.3%	$55.2M+14.7%	$48.1M-29.7%	$68.4M-31.1%	$99.4M+93.6%	$51.3M-25.0%	$68.5M
EPS (Diluted)	$0.60+22.4%	$0.49+16.7%	$0.42+16.7%	$0.36-29.4%	$0.51-32.0%	$0.75+92.3%	$0.39-25.0%	$0.52

FR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.7M-99.9%	$5.3B+1.7%	$5.2B+4.5%	$5.0B+18.6%	$4.2B+10.2%	$3.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$78K-99.8%	$44.5M+1.5%	$43.8M-67.1%	$133.2M+127.4%	$58.6M-63.9%	$162.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$12K-99.8%	$7.3M-33.5%	$11.0M+54.1%	$7.1M+39.8%	$5.1M-10.7%	$5.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.9M-99.9%	$2.5B-1.0%	$2.5B+4.8%	$2.4B+25.5%	$1.9B+4.7%	$1.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$9K	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.7M-99.9%	$2.7B+4.0%	$2.6B+4.2%	$2.5B+12.0%	$2.2B+15.4%	$1.9B
Retained Earnings	$231K-99.9%	$219.1M+71.6%	$127.7M+452.1%	$23.1M	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.7B+3.3%	$5.5B+1.0%	$5.5B+0.1%	$5.4B+3.5%	$5.3B+1.2%	$5.2B-0.1%	$5.2B+0.1%	$5.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$78.0M+132.9%	$33.5M-4.1%	$34.9M-2.2%	$35.7M-19.7%	$44.5M-5.5%	$47.1M+22.3%	$38.5M-21.2%	$48.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$11.9M+39.9%	$8.5M+9.9%	$7.7M-13.7%	$8.9M+22.3%	$7.3M+32.3%	$5.5M-2.7%	$5.7M-54.4%	$12.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.9B+5.9%	$2.8B+1.8%	$2.7B+0.5%	$2.7B+7.5%	$2.5B+1.1%	$2.5B-1.5%	$2.5B0.0%	$2.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.7B+0.8%	$2.7B+0.2%	$2.6B-0.2%	$2.7B-0.5%	$2.7B+1.3%	$2.6B+1.2%	$2.6B+0.2%	$2.6B
Retained Earnings	$230.7M+9.3%	$211.0M+3.1%	$204.7M-1.8%	$208.4M-4.9%	$219.1M+9.7%	$199.7M+33.7%	$149.4M+1.6%	$147.1M

FR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$461K-99.9%	$352.5M+15.6%	$304.8M-25.8%	$410.9M+54.0%	$266.9M+11.0%	$240.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$524K+100.4%	-$131.6M+65.2%	-$378.3M+39.9%	-$629.1M-50.9%	-$416.8M-65.6%	-$251.7M
Financing Cash Flow	$89K+100.0%	-$213.0M-666.8%	-$27.8M-109.1%	$304.5M+3264.7%	$9.1M-84.5%	$58.2M
Dividends Paid	$231K-99.9%	$193.5M+14.2%	$169.4M+9.0%	$155.3M+11.2%	$139.7M+9.7%	$127.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$122.0M-2.1%	$124.6M-1.1%	$126.1M+42.3%	$88.6M+15.4%	$76.8M-27.2%	$105.5M-2.1%	$107.7M+72.4%	$62.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$163.2M-130.2%	-$70.9M+7.6%	-$76.7M+64.0%	-$213.3M-232.8%	-$64.1M-1565.8%	$4.4M+108.3%	-$52.8M-177.7%	-$19.0M
Financing Cash Flow	$82.4M+259.0%	-$51.9M-0.1%	-$51.8M-146.9%	$110.5M+783.3%	-$16.2M+84.0%	-$101.2M-76.9%	-$57.2M-48.9%	-$38.4M
Dividends Paid	$60.4M0.0%	$60.4M0.0%	$60.4M+20.5%	$50.1M0.0%	$50.1M0.0%	$50.1M0.0%	$50.1M+15.9%	$43.2M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	34.0%-8.9pp	42.9%-1.8pp	44.8%-21.8pp	66.5%+9.6pp	56.9%+13.2pp	43.7%
Return on Equity	9.3%-1.5pp	10.8%+0.1pp	10.7%-3.9pp	14.6%+2.2pp	12.3%+2.1pp	10.3%
Return on Assets	4.3%-1.1pp	5.5%+0.2pp	5.3%-1.9pp	7.2%+0.8pp	6.5%+1.3pp	5.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.00-0.9	0.94-0.0	0.990.0	0.99+0.1	0.88-0.1	0.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	41.9%+5.8pp	36.0%+5.4pp	30.6%+3.5pp	27.2%-11.8pp	39.0%-20.3pp	59.3%+28.0pp	31.3%-10.9pp	42.2%
Return on Equity	2.9%+0.5pp	2.5%+0.4pp	2.1%+0.3pp	1.8%-0.8pp	2.6%-1.2pp	3.8%+1.8pp	2.0%-0.7pp	2.6%
Return on Assets	1.4%+0.2pp	1.2%+0.2pp	1.0%+0.1pp	0.9%-0.4pp	1.3%-0.6pp	1.9%+0.9pp	1.0%-0.3pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.10+0.1	1.04+0.0	1.030.0	1.02+0.1	0.940.0	0.95-0.0	0.970.0	0.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is First Indl Rlty Tr Inc's annual revenue?

First Indl Rlty Tr Inc (FR) reported $727K in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Indl Rlty Tr Inc's revenue growing?

First Indl Rlty Tr Inc (FR) revenue declined by 99.9% year-over-year, from $669.6M to $727K in fiscal year 2025.

Is First Indl Rlty Tr Inc profitable?

Yes, First Indl Rlty Tr Inc (FR) reported a net income of $247K in fiscal year 2025, with a net profit margin of 34.0%.

What is First Indl Rlty Tr Inc's earnings per share (EPS)?

First Indl Rlty Tr Inc (FR) reported diluted earnings per share of $1.87 for fiscal year 2025. This represents a -13.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does First Indl Rlty Tr Inc have?

As of fiscal year 2025, First Indl Rlty Tr Inc (FR) had $78K in cash and equivalents against $9K in long-term debt.

What is First Indl Rlty Tr Inc's net profit margin?

First Indl Rlty Tr Inc (FR) had a net profit margin of 34.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does First Indl Rlty Tr Inc pay dividends?

Yes, First Indl Rlty Tr Inc (FR) paid $1.28 per share in dividends during fiscal year 2025.

What is First Indl Rlty Tr Inc's return on equity (ROE)?

First Indl Rlty Tr Inc (FR) has a return on equity of 9.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is First Indl Rlty Tr Inc's operating cash flow?

First Indl Rlty Tr Inc (FR) generated $461K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are First Indl Rlty Tr Inc's total assets?

First Indl Rlty Tr Inc (FR) had $5.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does First Indl Rlty Tr Inc have outstanding?

First Indl Rlty Tr Inc (FR) had 133M shares outstanding as of fiscal year 2025.

What is First Indl Rlty Tr Inc's debt-to-equity ratio?

First Indl Rlty Tr Inc (FR) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Indl Rlty Tr Inc's return on assets (ROA)?

First Indl Rlty Tr Inc (FR) had a return on assets of 4.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is First Indl Rlty Tr Inc's Piotroski F-Score?

First Indl Rlty Tr Inc (FR) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Indl Rlty Tr Inc's earnings high quality?

First Indl Rlty Tr Inc (FR) has an earnings quality ratio of 1.86x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.