What is First Industrial Realty Trust, Inc.'s earnings per share (EPS)?

First Industrial Realty Trust, 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.

First Industrial Realty Trust, Inc. (FR) Financials

Trailing 12 months to June 30, 2026

Revenue $759.6M +8.4% YoY

Net Income $364.4M +34.4% YoY

EPS (Diluted) $2.75 +34.1% YoY

Operating Cash Flow $449.5M +13.3% YoY

Market Cap $7.9B as of Oct 3, 2026

Price / Sales 10.4x on $759.6M revenue, trailing 12 months to June 30, 2026

Price / Earnings 21.6x on $364.4M net income, trailing 12 months to June 30, 2026

Price / Book 2.8x on $2.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 23, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FR SEC filings page.

First Industrial Realty Trust, Inc. (FR) reported $759.6M in revenue over the twelve months to Jun 30, 2026, up 8.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI FR FY2025 2026-09-05

Depreciation-heavy real estate earnings convert into cash, while expansion and distributions increasingly draw on financing capacity

The key disconnect is earnings quality: in FY2025, operating cash flow of $461M was nearly twice net income of $247M, making depreciation-heavy property ownership a major difference between reported profit and cash economics. That cash-to-earnings ratio rose from roughly 1.2x in FY2024 to 1.9x in FY2025, so the latest profit decline understates the change in cash generation.

FY2025 investing cash outflow of $524M exceeded operating cash flow of $461M, so property investment was not fully funded by current-period operations. Debt-to-equity rose to 1.1x from 0.9x in FY2024, marking a more leveraged financing posture as the asset base expanded.

Dividend payments consumed about 94% of FY2025 net income, up from 67% in FY2024, so distributions became less buffered by accounting earnings. That payout pattern makes operating cash flow more informative than net income alone when interpreting the company’s distribution capacity.

Financial Health Signals

Financial Health Score 48/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of First Industrial Realty Trust, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. First Industrial Realty Trust, Inc. scores 83/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. First Industrial Realty Trust, Inc. scores 59/100 on it among other REITs.

Leverage

Not available for First Industrial Realty Trust, Inc., and counted as zero in the overall score.

Interest Cov.

Not available for First Industrial Realty Trust, Inc., and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. First Industrial Realty Trust, Inc. scores 84/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. First Industrial Realty Trust, Inc. scores 64/100 on it among other REITs.

Piotroski F-Score Partial

4/6

First Industrial Realty Trust, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 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 Industrial Realty Trust, Inc. generates $1.86 in operating cash flow ($461.3M OCF vs $247.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$194.9M

YoY+8.2%

QoQ+0.1%

5Y CAGR+10.7%

First Industrial Realty Trust, Inc. generated $194.9M in revenue in Q2 2026. This represents an increase of 8.2% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Net Income

$77.1M

YoY+39.7%

QoQ-46.1%

5Y CAGR+8.2%

10Y CAGR+4.4%

First Industrial Realty Trust, Inc. reported $77.1M in net income in Q2 2026. This represents an increase of 39.7% from the same quarter a year earlier. Against the prior quarter it is down 46.1%.

EPS (Diluted)

$0.58

YoY+38.1%

QoQ-46.3%

5Y CAGR+7.7%

First Industrial Realty Trust, Inc. earned $0.58 per diluted share (EPS) in Q2 2026. This represents an increase of 38.1% from the same quarter a year earlier. Against the prior quarter it is down 46.3%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$46.1M

YoY+31.8%

QoQ+24.0%

5Y CAGR-3.7%

10Y CAGR+26.5%

First Industrial Realty Trust, Inc. held $46.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.50

YoY+12.4%

QoQ0.0%

First Industrial Realty Trust, Inc. paid $0.50 per share in dividends in Q2 2026. This represents an increase of 12.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

133M

YoY+0.1%

QoQ0.0%

5Y CAGR+0.5%

10Y CAGR+1.3%

First Industrial Realty Trust, Inc. had 133M shares outstanding in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

39.6%

YoY+8.9pp

QoQ-33.9pp

5Y change-4.7pp

First Industrial Realty Trust, Inc.'s net profit margin was 39.6% in Q2 2026, showing the share of revenue converted to profit. This is up 8.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 33.9 percentage points.

Return on Equity

2.8%

YoY+0.7pp

QoQ-2.4pp

5Y change+0.1pp

10Y change-1.4pp

First Industrial Realty Trust, Inc.'s ROE was 2.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

FR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$759.6M	$727.1M+8.6%	$669.6M+9.1%	$614.0M+13.7%	$539.9M+13.4%	$476.3M+6.3%	$448.0M+5.2%	$426.0M+5.5%	$404.0M+1.9%	$396.4M+4.9%	$378.0M	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$49.4M	$41.9M+2.5%	$40.9M+10.3%	$37.1M+9.3%	$34.0M-1.8%	$34.6M+5.4%	$32.8M+15.0%	$28.6M+3.0%	$27.7M-1.2%	$28.1M+5.2%	$26.7M+5.3%	$25.4M+8.3%	$23.4M+2.6%	$22.8M-8.9%	$25.1M+21.4%	$20.6M
Interest Expense	$92.0M	$84.9M+2.3%	$83.0M+11.6%	$74.3M+51.7%	$49.0M+11.1%	$44.1M-14.0%	$51.3M+2.0%	$50.3M-1.0%	$50.8M-11.2%	$57.2M-3.8%	$59.4M-11.9%	$67.4M-6.6%	$72.2M-1.9%	$73.6M-11.9%	$83.5M-16.6%	$100.1M
Income Tax	$12.1M	$15.3M+151.6%	$6.1M-30.1%	$8.7M-62.8%	$23.4M+378.8%	$4.9M+102.6%	$2.4M-29.3%	$3.4M+3802.2%	-$92K-107.7%	$1.2M+9.6%	$1.1M+830.8%	$117K-50.8%	$238K+8033.3%	-$3K-100.1%	$5.5M+1127.1%	$450K
Net Income	$364.4M	$247.4M-13.9%	$287.6M+4.6%	$274.8M-23.5%	$359.1M+32.5%	$271.0M+38.3%	$196.0M-17.9%	$238.8M+46.3%	$163.2M-19.0%	$201.5M+66.2%	$121.2M+64.3%	$73.8M+50.3%	$49.1M+21.8%	$40.3M+3158.2%	-$1.3M+82.3%	-$7.4M
EPS (Basic)	N/A	$1.87-13.8%	$2.17+4.3%	$2.08-23.5%	$2.72+30.1%	$2.09+36.6%	$1.53-19.0%	$1.89+44.3%	$1.31-22.9%	$1.70+61.9%	$1.05+56.7%	$0.67+59.5%	$0.42+75.0%	$0.24	N/A	N/A
EPS (Diluted)	$2.75	$1.87-13.8%	$2.17+4.8%	$2.07-23.9%	$2.72+30.1%	$2.09+36.6%	$1.53-18.6%	$1.88+43.5%	$1.31-22.5%	$1.69+61.0%	$1.05+59.1%	$0.66+57.1%	$0.42+75.0%	$0.24	N/A	N/A
Diluted Shares (Avg)	N/A	133M+0.1%	132M+0.1%	132M+0.2%	132M+1.8%	130M+1.5%	128M+1.0%	127M+2.0%	124M+4.5%	119M+3.0%	115M+4.1%	111M+0.4%	110M+3.1%	107M+17.0%	91M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$194.9M+8.2%	$194.8M+10.0%	$188.4M+7.3%	$181.4M+8.2%	$180.2M+9.8%	$177.1M+9.1%	$175.6M+11.6%	$167.6M+8.1%
SG&A Expenses	$8.9M+4.9%	$23.0M+44.5%	$9.1M-12.0%	$8.6M-7.3%	$8.4M-12.3%	$15.9M+34.9%	$10.3M+5.2%	$9.2M+9.2%
Interest Expense	$24.5M+12.6%	$23.8M+22.3%	$22.0M+9.2%	$21.7M+4.3%	$21.7M+2.8%	$19.5M-6.8%	$20.1M-1.5%	$20.8M+4.7%
Income Tax	-$1.2M-1589.9%	$4.0M-32.0%	$9.1M+679.4%	$192K-94.2%	$79K-81.5%	$5.9M+400.4%	$1.2M+59.5%	$3.3M+891.3%
Net Income	$77.1M+39.7%	$143.1M+197.5%	$78.8M+15.2%	$65.3M-34.3%	$55.2M+7.5%	$48.1M-29.7%	$68.4M-23.3%	$99.4M+32.5%
EPS (Basic)	$0.58+38.1%	$1.08+200.0%	$0.60+15.4%	$0.49-34.7%	$0.42+7.7%	$0.36-30.8%	$0.52-23.5%	$0.75+31.6%
EPS (Diluted)	$0.58+38.1%	$1.08+200.0%	$0.60+15.4%	$0.49-34.7%	$0.42+7.7%	$0.36-30.8%	$0.52-22.4%	$0.75+31.6%
Diluted Shares (Avg)	133M+0.1%	133M+0.1%	N/A	133M+0.1%	132M+0.1%	132M+0.1%	N/A	132M+0.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

FR Balance Sheet

FR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$5.7B+8.1%	$5.3B+1.7%	$5.2B+4.5%	$5.0B+18.6%	$4.2B+10.2%	$3.8B+7.8%	$3.5B+12.0%	$3.1B+6.9%	$2.9B+5.3%	$2.8B+3.1%	$2.7B+5.0%	$2.6B-0.6%	$2.6B-0.4%	$2.6B-2.2%	$2.7B
Cash & Equivalents	$78.0M+75.3%	$44.5M+1.5%	$43.8M-67.1%	$133.2M+127.4%	$58.6M-63.9%	$162.1M+667.5%	$21.1M-51.0%	$43.1M+103.8%	$21.1M+114.5%	$9.9M+147.3%	$4.0M-58.0%	$9.5M+25.4%	$7.6M+53.4%	$4.9M-51.4%	$10.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$11.9M+62.2%	$7.3M-33.5%	$11.0M+54.1%	$7.1M+39.8%	$5.1M-10.7%	$5.7M-33.0%	$8.5M+64.5%	$5.2M+6.4%	$4.9M+2.4%	$4.8M-15.2%	$5.6M-23.7%	$7.4M+28.9%	$5.7M+24.1%	$4.6M+50.1%	$3.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.9B+16.4%	$2.5B-1.0%	$2.5B+4.8%	$2.4B+25.5%	$1.9B+4.7%	$1.8B+7.2%	$1.7B+17.6%	$1.5B-0.2%	$1.5B-2.9%	$1.5B-5.4%	$1.6B+6.9%	$1.5B+4.5%	$1.4B-2.5%	$1.5B-8.2%	$1.6B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.3B-3.6%	$1.4B-6.2%	$1.4B+6.9%	$1.3B+4.1%	$1.3B-3.1%	$1.3B-9.8%	$1.5B
Total Equity	$2.7B+0.2%	$2.7B+4.0%	$2.6B+4.2%	$2.5B+12.0%	$2.2B+15.4%	$1.9B+7.8%	$1.8B+7.2%	$1.6B+15.2%	$1.4B+15.0%	$1.2B+15.7%	$1.1B+2.3%	$1.0B-6.9%	$1.1B+2.1%	$1.1B+7.5%	$1.0B
Retained Earnings	$230.7M+5.3%	$219.1M+71.6%	$127.7M+452.1%	$23.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$5.8B+6.0%	$5.8B+6.0%	$5.7B+8.1%	$5.5B+5.9%	$5.5B+4.7%	$5.4B+4.8%	$5.3B+1.7%	$5.2B+0.9%
Cash & Equivalents	$46.1M+31.8%	$37.1M+3.9%	$78.0M+75.3%	$33.5M-28.9%	$34.9M-9.3%	$35.7M-26.9%	$44.5M+1.5%	$47.1M-13.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$8.8M+13.9%	$13.1M+46.5%	$11.9M+62.2%	$8.5M+53.4%	$7.7M+35.8%	$8.9M-28.3%	$7.3M-33.5%	$5.5M-14.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.9B+7.1%	$2.9B+8.0%	$2.9B+16.4%	$2.8B+11.2%	$2.7B+7.6%	$2.7B+7.0%	$2.5B-1.0%	$2.5B-2.2%
Total Equity	$2.8B+4.9%	$2.8B+4.0%	$2.7B+0.2%	$2.7B+0.7%	$2.6B+1.7%	$2.7B+2.2%	$2.7B+4.0%	$2.6B+3.8%
Retained Earnings	$317.5M+55.1%	$306.7M+47.2%	$230.7M+5.3%	$211.0M+5.6%	$204.7M+37.0%	$208.4M+41.7%	$219.1M+71.6%	$199.7M+147.0%

Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

FR Cash Flow Statement

FR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$449.5M	$461.3M+30.9%	$352.5M+15.6%	$304.8M-25.8%	$410.9M+54.0%	$266.9M+11.0%	$240.4M-2.1%	$245.5M+16.6%	$210.5M+9.3%	$192.6M+10.7%	$173.9M+7.2%	$162.1M+18.2%	$137.2M+9.1%	$125.8M-7.8%	$136.4M+55.9%	$87.5M
Depreciation & Amortization	N/A	$185.3M+7.8%	$171.9M+5.5%	$163.0M+10.5%	$147.4M+12.6%	$131.0M+1.0%	$129.6M+6.9%	$121.2M+4.1%	$116.5M+0.1%	$116.4M-0.8%	$117.3M+3.0%	$113.8M+1.7%	$111.9M+4.6%	$107.0M-3.5%	$110.9M-3.8%	$115.2M
Stock-Based Compensation	N/A	$20.3M+1.1%	$20.1M+20.5%	$16.7M+6.0%	$15.7M+14.6%	$13.7M+6.1%	$12.9M+54.4%	$8.4M+10.4%	$7.6M-11.9%	$8.6M+16.8%	$7.4M+2.7%	$7.2M-5.6%	$7.6M+22.6%	$6.2M-27.5%	$8.6M+127.7%	$3.8M
Investing Cash Flow	-$274.2M	-$524.2M-298.3%	-$131.6M+65.2%	-$378.3M+39.9%	-$629.1M-50.9%	-$416.8M-65.6%	-$251.7M-22.6%	-$205.4M+8.1%	-$223.4M-170.8%	-$82.5M+32.6%	-$122.4M+37.9%	-$197.1M-185.3%	-$69.1M-12.6%	-$61.3M-45.2%	-$42.2M-1017.6%	-$3.8M
Financing Cash Flow	-$96.1M	$89.3M+141.9%	-$213.0M-666.8%	-$27.8M-109.1%	$304.5M+3264.7%	$9.1M-84.5%	$58.2M-6.4%	$62.2M+270.4%	$16.8M+119.7%	-$85.0M-49.1%	-$57.0M-293.8%	$29.4M+144.5%	-$66.2M-7.2%	-$61.7M+37.9%	-$99.4M+0.1%	-$99.5M
Dividends Paid	$249.2M	$231.2M+19.5%	$193.5M+14.2%	$169.4M+9.0%	$155.3M+11.2%	$139.7M+9.7%	$127.3M+8.6%	$117.2M+6.9%	$109.6M+9.1%	$100.5M+21.6%	$82.7M+48.2%	$55.8M+23.6%	$45.2M+55.6%	$29.0M	$0	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$114.0M-9.6%	$88.9M+0.4%	$122.0M+58.9%	$124.6M+18.1%	$126.1M+17.0%	$88.6M+41.7%	$76.8M+19.3%	$105.5M+25.1%
Depreciation & Amortization	$50.2M+6.4%	$50.1M+14.4%	$48.6M+11.6%	$45.7M+5.1%	$47.2M+9.7%	$43.8M+4.6%	$43.6M+5.1%	$43.5M+5.8%
Stock-Based Compensation	$2.6M+11.4%	$15.1M+8.1%	N/A	$2.0M-43.6%	$2.3M-39.5%	$13.9M+52.9%	N/A	$3.6M+4.2%
Investing Cash Flow	$32.4M+142.3%	-$72.5M+66.0%	-$163.2M-154.6%	-$70.9M-1720.9%	-$76.7M-45.1%	-$213.3M-1021.1%	-$64.1M-15.7%	$4.4M+106.1%
Financing Cash Flow	-$69.4M-33.9%	-$57.3M-151.9%	$82.4M+609.7%	-$51.9M+48.8%	-$51.8M+9.5%	$110.5M+387.6%	-$16.2M+16.4%	-$101.2M-283.3%
Dividends Paid	$68.1M+12.7%	$60.4M+20.5%	$60.4M+20.5%	$60.4M+20.5%	$60.4M+20.5%	$50.1M+15.9%	$50.1M+15.9%	$50.1M+15.9%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

FR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	34.0%-8.9pp	42.9%-1.8pp	44.8%-21.8pp	66.5%+9.6pp	56.9%+13.2pp	43.7%-12.3pp	56.0%+15.6pp	40.4%-10.4pp	50.8%+18.8pp	32.1%	N/A	N/A	N/A	N/A	N/A
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%-3.2pp	13.5%+3.6pp	9.9%-4.2pp	14.1%+4.3pp	9.8%+2.9pp	6.9%+2.2pp	4.7%+1.1pp	3.6%+3.7pp	-0.1%+0.6pp	-0.7%
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%-1.6pp	6.8%+1.6pp	5.2%-1.7pp	6.9%+2.5pp	4.3%+1.6pp	2.7%+0.8pp	1.9%+0.3pp	1.6%+1.6pp	-0.1%+0.2pp	-0.3%
Debt-to-Equity	1.10+0.2x	0.940.0x	0.990.0x	0.99+0.1x	0.88-0.1x	0.970.0x	0.98+0.1x	0.890.0x	0.91-0.2x	1.09-0.3x	1.34+0.1x	1.29+0.1x	1.15-0.1x	1.21-0.2x	1.45
Asset Turnover	0.130.0x	0.130.0x	0.120.0x	0.110.0x	0.110.0x	0.120.0x	0.120.0x	0.130.0x	0.130.0x	0.14	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	39.6%+8.9pp	73.5%+46.3pp	41.9%+2.9pp	36.0%-23.3pp	30.6%-0.6pp	27.2%-15.0pp	39.0%-17.8pp	59.3%+10.9pp
Return on Equity	2.8%+0.7pp	5.2%+3.4pp	2.9%+0.4pp	2.5%-1.3pp	2.1%+0.1pp	1.8%-0.8pp	2.6%-0.9pp	3.8%+0.8pp
Return on Assets	1.3%+0.3pp	2.5%+1.6pp	1.4%+0.1pp	1.2%-0.7pp	1.0%0.0pp	0.9%-0.4pp	1.3%-0.4pp	1.9%+0.4pp
Debt-to-Equity	1.050.0x	1.060.0x	1.10+0.2x	1.04+0.1x	1.03+0.1x	1.020.0x	0.940.0x	0.95-0.1x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
First Industrial Realty Trust, Inc. FR	FY2025	$727.1M	$247.4M	34.0%	$7.9B	48/100
STAG INDUSTRIAL, INC. STAG	FY2025	$845.2M	$273.5M	32.4%	$6.9B	54/100
EastGroup Properties Inc. EGP	FY2025	$721.3M	$257.5M	35.7%	$10.5B	43/100
Terreno Realty Corporation TRNO	FY2025	$476.4M	$403.0M	84.6%	$7.0B	51/100
CubeSmart CUBE	FY2025	$1.1B	$331.3M	29.5%	$8.5B	41/100
National Storage Affiliates Trust NSA	FY2025	$752.9M	$73.8M	9.8%	$3.4B	31/100

Where First Industrial Realty Trust, Inc. Ranks

Frequently Asked Questions

What is First Industrial Realty Trust, Inc.'s annual revenue?

First Industrial Realty Trust, Inc. (FR) reported $727.1M in total revenue for fiscal year 2025. This represents a 8.6% 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 Industrial Realty Trust, Inc.'s revenue growing?

First Industrial Realty Trust, Inc. (FR) revenue grew by 8.6% year-over-year, from $669.6M to $727.1M in fiscal year 2025.

Is First Industrial Realty Trust, Inc. profitable?

Yes, First Industrial Realty Trust, Inc. (FR) reported a net income of $247.4M in fiscal year 2025, with a net profit margin of 34.0%.

What is First Industrial Realty Trust, Inc.'s net profit margin?

First Industrial Realty Trust, 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 Industrial Realty Trust, Inc. pay dividends?

Yes, First Industrial Realty Trust, Inc. (FR) paid $1.78 per share in dividends during fiscal year 2025.

What is First Industrial Realty Trust, Inc.'s return on equity (ROE)?

First Industrial Realty Trust, 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 Industrial Realty Trust, Inc.'s operating cash flow?

First Industrial Realty Trust, Inc. (FR) generated $461.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are First Industrial Realty Trust, Inc.'s total assets?

First Industrial Realty Trust, Inc. (FR) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does First Industrial Realty Trust, Inc. have outstanding?

First Industrial Realty Trust, Inc. (FR) had 133M shares outstanding as of fiscal year 2025.

What is First Industrial Realty Trust, Inc.'s debt-to-equity ratio?

First Industrial Realty Trust, Inc. (FR) had a debt-to-equity ratio of 1.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Industrial Realty Trust, Inc.'s return on assets (ROA)?

First Industrial Realty Trust, 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 Industrial Realty Trust, Inc.'s P/E ratio?

First Industrial Realty Trust, Inc. (FR) trades at 21.6x earnings, its market capitalization divided by net income of $364.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $7.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is First Industrial Realty Trust, Inc.'s price-to-sales ratio?

First Industrial Realty Trust, Inc. (FR) trades at 10.4x sales, its market capitalization divided by revenue of $759.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $7.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is First Industrial Realty Trust, Inc.'s Piotroski F-Score?

First Industrial Realty Trust, Inc. (FR) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Industrial Realty Trust, Inc.'s earnings high quality?

First Industrial Realty Trust, 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.

How financially healthy is First Industrial Realty Trust, Inc.?

First Industrial Realty Trust, Inc. (FR) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.