What is Industrial Logistics Properties Trust's earnings per share (EPS)?

Industrial Logistics Properties Trust (ILPT) reported diluted earnings per share of -$1.00 for fiscal year 2025. This represents a 31.5% 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.

Industrial Logistics Properties Trust (ILPT) Financials

ILPT

FY2025 annual

Revenue Not reported for FY2025

Net Income -$66.2M +30.8% YoY

EPS (Diluted) -$1.00 +31.5% YoY

Operating Cash Flow $60.7M +2990.8% YoY

Market Cap $455.2M as of Oct 19, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 1.0x on $461.7M 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 19, 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 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ILPT SEC filings page.

This page shows Industrial Logistics Properties Trust (ILPT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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 ILPT FY2025 2026-10-03

The trust's asset base has shrunk while leverage rose, leaving financing costs far larger than its latest operating cash flow.

The latest net loss narrowed to $66.2M from $95.7M in FY2024. Operating cash flow recovered to $60.7M, but interest expense was $264.6M, making financing costs much larger than internally generated cash.

Debt-to-equity climbed from 0.8x in FY2021 to 8.6x in FY2025. Equity was $489.7M in FY2025, so the balance sheet carries a much thinner equity cushion against its obligations than it did at the start of the period.

Total assets declined from $5.7B in FY2022 to $5.2B in FY2025. Liabilities were $4.3B in FY2025, so obligations remained large relative to the smaller asset base while reported losses narrowed across the period.

Financial Health Signals

Financial health score not available

Industrial Logistics Properties Trust does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Industrial Logistics Properties Trust passes 3 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).

Earnings Quality Mixed

N/A

Industrial Logistics Properties Trust reported a net loss of $66.2M while generating $60.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Net Income

-$14.5M

YoY+32.1%

QoQ-53.4%

Industrial Logistics Properties Trust reported -$14.5M in net income in Q2 2026. This represents an increase of 32.1% from the same quarter a year earlier. Against the prior quarter it is down 53.4%.

EPS (Diluted)

-$0.22

YoY+31.3%

QoQ-57.1%

Industrial Logistics Properties Trust earned -$0.22 per diluted share (EPS) in Q2 2026. This represents an increase of 31.3% from the same quarter a year earlier. Against the prior quarter it is down 57.1%.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$135.3M

YoY+131.1%

QoQ+36.0%

5Y CAGR+34.7%

Industrial Logistics Properties Trust held $135.3M in cash against $4.2B in long-term debt as of Q2 2026.

Dividends Per Share

$0.05

YoY+400.0%

QoQ0.0%

Industrial Logistics Properties Trust paid $0.05 per share in dividends in Q2 2026. This represents an increase of 400.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

67M

YoY+0.6%

QoQ+0.1%

5Y CAGR+0.4%

Industrial Logistics Properties Trust had 67M shares outstanding in Q2 2026. This represents an increase of 0.6% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-3.1%

YoY+1.0pp

QoQ-1.2pp

Industrial Logistics Properties Trust's ROE was -3.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$33K

YoY+10.0%

QoQ+106.3%

5Y CAGR-30.4%

Industrial Logistics Properties Trust spent $33K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 106.3%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

ILPT 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.

ILPT 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
SG&A Expenses	N/A	$37.0M+21.4%	$30.5M-2.3%	$31.2M-5.2%	$32.9M+96.6%	$16.7M+8262.0%	$200K-98.8%	$17.2M+52.0%	$11.3M-32.7%	$16.8M+82.6%	$9.2M
Interest Expense	N/A	$264.6M-9.6%	$292.5M+1.4%	$288.5M+3.0%	$280.1M+686.1%	$35.6M-31.0%	$51.6M+1.5%	$50.8M+216.2%	$16.1M+559.3%	$2.4M+7.8%	$2.3M
Income Tax	N/A	$104K-35.8%	$162K+55.8%	$104K+131.1%	$45K-83.5%	$273K-1.4%	$277K+62.0%	$171K+434.4%	$32K-27.3%	$44K0.0%	$44K
Net Income	N/A	-$66.2M+30.8%	-$95.7M+11.4%	-$108.0M+52.4%	-$226.7M-289.4%	$119.7M+45.8%	$82.1M+56.3%	$52.5M-29.4%	$74.4M-7.1%	$80.1M-7.8%	$86.9M
EPS (Basic)	N/A	-$1.00+31.5%	-$1.46+11.5%	-$1.65+52.4%	-$3.47-289.6%	$1.83+45.2%	$1.26+55.6%	$0.81	N/A	N/A	N/A
EPS (Diluted)	-$0.71	-$1.00+31.5%	-$1.46+11.5%	-$1.65+52.4%	-$3.47-289.6%	$1.83+45.2%	$1.26+55.6%	$0.81	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	66M+0.5%	66M+0.4%	65M+0.3%	65M+0.1%	65M+0.1%	65M+0.1%	65M+1.4%	64M+42.5%	45M0.0%	45M

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
SG&A Expenses	$12.0M+24.2%	$9.5M+14.9%	N/A	$10.6M+46.3%	$9.7M+21.7%	$8.2M+7.1%	N/A	$7.2M-6.2%
Interest Expense	$61.1M-10.0%	$61.7M-11.6%	N/A	$63.5M-14.2%	$67.9M-7.8%	$69.8M-4.7%	N/A	$73.9M+1.4%
Income Tax	$59K+96.7%	$114K+307.1%	N/A	$31K-6.1%	$30K-16.7%	$28K-15.2%	N/A	$33K-35.3%
Net Income	-$14.5M+32.1%	-$9.4M+56.2%	N/A	-$21.6M+13.7%	-$21.3M+8.0%	-$21.5M+8.0%	N/A	-$25.0M+4.3%
EPS (Basic)	-$0.22+31.3%	-$0.14+57.6%	-$0.02+94.6%	-$0.33+13.2%	-$0.32+8.6%	-$0.33+8.3%	-$0.37+22.9%	-$0.38+5.0%
EPS (Diluted)	-$0.22+31.3%	-$0.14+57.6%	-$0.02+94.6%	-$0.33+13.2%	-$0.32+8.6%	-$0.33+8.3%	-$0.37+22.9%	-$0.38+5.0%
Diluted Shares (Avg)	66M+0.5%	66M+0.5%	N/A	66M+0.5%	66M+0.5%	66M+0.4%	N/A	66M+0.4%

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

ILPT Balance Sheet

ILPT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Total Assets	$5.2B-4.0%	$5.4B-2.8%	$5.6B-2.0%	$5.7B+197.4%	$1.9B-0.4%	$1.9B-22.0%	$2.5B+60.0%	$1.5B+8.7%	$1.4B	N/A
Cash & Equivalents	$94.8M-28.0%	$131.7M+17.2%	$112.3M+132.8%	$48.3M+64.2%	$29.4M+28.7%	$22.8M-19.6%	$28.4M+195.7%	$9.6M	$0	$0
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$136.7M+5.8%	$129.2M+8.4%	$119.2M+11.4%	$107.0M+41.0%	$75.9M+9.2%	$69.5M+10.7%	$62.8M+10.3%	$56.9M+10.2%	$51.7M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$4.3B-2.5%	$4.4B-0.1%	$4.4B+1.3%	$4.3B+399.2%	$870.5M-4.6%	$912.6M-37.5%	$1.5B+188.2%	$506.3M-40.4%	$849.5M	N/A
Long-Term Debt	$4.2B-2.5%	$4.3B-0.1%	$4.3B+1.4%	$4.2B+412.5%	$828.1M-4.4%	$866.6M-38.4%	$1.4B+204.3%	$462.2M-42.2%	$799.4M	N/A
Total Equity	$489.7M-12.9%	$562.0M-16.1%	$670.0M-15.3%	$790.7M-23.8%	$1.0B+3.5%	$1.0B+0.8%	$995.7M-3.2%	$1.0B+82.9%	$562.2M-57.2%	$1.3B
Retained Earnings	-$152.7M-76.5%	-$86.5M-1040.3%	$9.2M-92.2%	$117.2M-65.9%	$343.9M+53.4%	$224.2M+57.7%	$142.2M+58.6%	$89.7M+487.2%	$15.3M	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	$5.1B-2.2%	$5.2B-3.7%	$5.2B-4.0%	$5.2B-4.3%	$5.2B-4.6%	$5.4B-3.0%	$5.4B-2.8%	$5.5B-3.2%
Cash & Equivalents	$135.3M+131.1%	$99.5M-7.8%	$94.8M-28.0%	$83.2M-45.9%	$58.6M-59.9%	$108.0M-15.9%	$131.7M+17.2%	$153.9M+84.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$139.0M+6.2%	$137.6M+4.7%	$136.7M+5.8%	$130.1M+6.0%	$130.9M+10.8%	$131.5M+13.2%	$129.2M+8.4%	$122.7M+8.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$4.3B-0.2%	$4.3B-2.4%	$4.3B-2.5%	$4.3B-2.4%	$4.3B-2.5%	$4.4B-0.4%	$4.4B-0.1%	$4.4B-0.1%
Long-Term Debt	$4.2B-0.4%	$4.2B-2.5%	$4.2B-2.5%	$4.2B-2.5%	$4.2B-2.5%	$4.3B-0.3%	$4.3B-0.1%	$4.3B0.0%
Total Equity	$461.7M-11.1%	$479.7M-11.1%	$489.7M-12.9%	$494.1M-15.7%	$519.1M-16.0%	$539.5M-16.1%	$562.0M-16.1%	$585.9M-17.9%
Retained Earnings	-$176.6M-36.5%	-$162.1M-50.1%	-$152.7M-76.5%	-$150.9M-141.9%	-$129.3M-245.9%	-$108.0M-660.2%	-$86.5M-1040.3%	-$62.4M-254.2%

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

ILPT Cash Flow Statement

ILPT 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
Operating Cash Flow	$68.8M	$60.7M+2990.8%	$2.0M-67.6%	$6.1M-92.7%	$83.3M-24.8%	$110.7M-3.4%	$114.6M-1.5%	$116.3M+20.2%	$96.8M-6.5%	$103.5M-5.3%	$109.3M
Depreciation & Amortization	N/A	$165.2M-3.9%	$172.0M-3.8%	$178.7M+11.0%	$161.0M+218.2%	$50.6M-28.2%	$70.5M+13.9%	$61.9M+116.7%	$28.6M+4.6%	$27.3M+0.9%	$27.1M
Stock-Based Compensation	N/A	$2.1M+7.2%	$1.9M+10.3%	$1.7M-21.6%	$2.2M-4.6%	$2.3M-0.1%	$2.3M+110.2%	$1.1M+19.6%	$927K	N/A	N/A
Investing Cash Flow	$8.5M	$4.0M-75.9%	$16.4M-75.8%	$67.7M+102.0%	-$3.4B-15163.9%	$22.9M+605.9%	-$4.5M+99.5%	-$893.4M-559.2%	-$135.5M-2048.8%	-$6.3M-365.1%	-$1.4M
Financing Cash Flow	-$54.6M	-$124.1M-473.8%	-$21.6M-169.4%	$31.1M-99.1%	$3.5B+2836.3%	-$127.0M-4.3%	-$121.8M-115.2%	$802.0M+1558.1%	$48.4M+149.8%	-$97.1M+10.0%	-$107.9M
Dividends Paid	$13.3M	$8.0M+202.2%	$2.6M+0.4%	$2.6M-94.1%	$44.5M-48.4%	$86.2M+0.2%	$86.1M+0.2%	$85.9M+42.1%	$60.5M	$0	$0
Share Buybacks	$468K	$451K+44.6%	$312K+91.4%	$163K-32.6%	$242K-73.8%	$922K+141.4%	$382K+51.0%	$253K+386.5%	$52K	$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	$22.0M+19.7%	$15.9M+39.8%	$8.2M+160.7%	$22.7M+765.5%	$18.4M+69.7%	$11.4M+42.3%	-$13.5M-68.2%	-$3.4M-199.4%
Depreciation & Amortization	$40.8M-1.6%	$40.8M-1.7%	$41.2M-1.3%	$41.0M-5.0%	$41.4M-4.6%	$41.5M-4.7%	$41.8M-6.0%	$43.2M-1.6%
Investing Cash Flow	$3.5M-41.1%	-$4.7M+59.8%	$5.3M+246.5%	$4.4M-71.4%	$5.9M-63.9%	-$11.7M+0.7%	-$3.6M-110.0%	$15.4M+9.7%
Financing Cash Flow	-$29.5M+71.1%	-$8.4M-54.5%	-$8.2M-52.4%	-$8.5M-50.9%	-$102.0M-1870.0%	-$5.5M+0.1%	-$5.4M-5.2%	-$5.6M-5.5%
Dividends Paid	$3.3M+403.5%	$3.3M+404.2%	$3.3M+403.5%	$3.3M+403.3%	$662K+0.5%	$661K+0.5%	$662K+0.5%	$659K+0.5%
Share Buybacks	$33K+10.0%	$16K+700.0%	$17K+1600.0%	$402K+58.9%	$30K+233.3%	$2K-95.9%	$1K-66.7%	$253K+74.5%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.

ILPT 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.

ILPT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Return on Equity	-13.5%+3.5pp	-17.0%-0.9pp	-16.1%+12.6pp	-28.7%-40.2pp	11.5%+3.4pp	8.2%+2.9pp	5.3%-2.0pp	7.2%-7.0pp	14.2%+7.6pp	6.6%
Return on Assets	-1.3%+0.5pp	-1.8%+0.2pp	-1.9%+2.0pp	-4.0%-10.3pp	6.3%+2.0pp	4.3%+2.1pp	2.1%-2.7pp	4.9%-0.8pp	5.7%	N/A
Debt-to-Equity	8.56+0.9x	7.65+1.2x	6.43+1.1x	5.37+4.6x	0.80-0.1x	0.86-0.5x	1.41+1.0x	0.45-1.0x	1.42	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
Return on Equity	-3.1%+1.0pp	-2.0%+2.0pp	N/A	-4.4%-0.1pp	-4.1%-0.4pp	-4.0%-0.3pp	N/A	-4.3%-0.6pp
Return on Assets	-0.3%+0.1pp	-0.2%+0.2pp	N/A	-0.4%0.0pp	-0.4%0.0pp	-0.4%0.0pp	N/A	-0.5%0.0pp
Debt-to-Equity	9.06+1.0x	8.73+0.8x	8.56+0.9x	8.49+1.1x	8.09+1.1x	7.96+1.3x	7.65+1.2x	7.35+1.3x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, 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
Industrial Logistics Properties Trust ILPT	FY2025	N/A	-$66.2M	N/A	$455.2M	—
Plymouth Industrial REIT, Inc. PLYM	FY2024	$198.4M	$139.3M	70.3%	$990.0M	57/100
Innovative Industrial Properties, Inc. IIPR	FY2025	$266.0M	$118.2M	44.5%	$1.4B	71/100
Modiv Industrial, Inc. MDV	FY2025	$46.4M	$1.1M	2.3%	$215.1M	49/100
LXP Industrial Trust LXP	FY2025	$350.2M	$113.2M	32.3%	$3.6B	37/100
First Industrial Realty Trust, Inc. FR	FY2025	$727.1M	$247.4M	34.0%	$7.8B	49/100

Where Industrial Logistics Properties Trust Ranks

Frequently Asked Questions

Is Industrial Logistics Properties Trust profitable?

No, Industrial Logistics Properties Trust (ILPT) reported a net income of -$66.2M in fiscal year 2025.

How much debt does Industrial Logistics Properties Trust have?

As of fiscal year 2025, Industrial Logistics Properties Trust (ILPT) had $94.8M in cash and equivalents against $4.2B in long-term debt.

Does Industrial Logistics Properties Trust pay dividends?

Yes, Industrial Logistics Properties Trust (ILPT) paid $0.12 per share in dividends during fiscal year 2025.

What is Industrial Logistics Properties Trust's return on equity (ROE)?

Industrial Logistics Properties Trust (ILPT) has a return on equity of -13.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Industrial Logistics Properties Trust's operating cash flow?

Industrial Logistics Properties Trust (ILPT) generated $60.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Industrial Logistics Properties Trust's total assets?

Industrial Logistics Properties Trust (ILPT) had $5.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Industrial Logistics Properties Trust buy back shares?

Yes, Industrial Logistics Properties Trust (ILPT) spent $451K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Industrial Logistics Properties Trust have outstanding?

Industrial Logistics Properties Trust (ILPT) had 67M shares outstanding as of fiscal year 2025.

What is Industrial Logistics Properties Trust's debt-to-equity ratio?

Industrial Logistics Properties Trust (ILPT) had a debt-to-equity ratio of 8.56 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Industrial Logistics Properties Trust's return on assets (ROA)?

Industrial Logistics Properties Trust (ILPT) had a return on assets of -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Industrial Logistics Properties Trust's P/E ratio?

Industrial Logistics Properties Trust (ILPT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $455.2M as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Industrial Logistics Properties Trust's price-to-sales ratio?

Industrial Logistics Properties Trust (ILPT) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $455.2M as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Industrial Logistics Properties Trust's Piotroski F-Score?

Industrial Logistics Properties Trust (ILPT) has a Piotroski F-Score of 3 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 Industrial Logistics Properties Trust's earnings high quality?

Industrial Logistics Properties Trust (ILPT) reported a net loss of $66.2M while generating $60.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.