8-K Announcements
6Apr 22, 2026·SEC
Mar 27, 2026·SEC
Mar 17, 2026·SEC
First Industrial Realty Trust, Inc. (FR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
First Industrial Realty Trust, Inc. (FR) stock price & volume — 10-year historical chart
First Industrial Realty Trust, Inc. (FR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
First Industrial Realty Trust, Inc. (FR) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 22, 2026 | $0.68vs $0.33+103.8% | $195Mvs $182M+6.8% |
| Q1 2026 | Feb 4, 2026 | $0.77vs $0.42+83.3% | $188Mvs $186M+1.2% |
| Q4 2025 | Oct 15, 2025 | $0.76vs $0.74+2.7% | $181Mvs $186M-2.6% |
| Q3 2025 | Jul 16, 2025 | $0.76vs $0.72+5.6% | $180Mvs $177M+1.9% |
First Industrial Realty Trust, Inc. (FR) competitors in Industrial Logistics Warehouse REITs — business model, growth, and fundamentals comparison
First Industrial Realty Trust, Inc. (FR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
First Industrial Realty Trust, Inc. (FR) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 396.4M | 403.68M | 425.5M | 447.79M | 476.29M | 539.93M | 614.03M | 669.64M | 727.08M | 744.49M |
| Revenue Growth % | 4.86% | 1.84% | 5.41% | 5.24% | 6.37% | 13.36% | 13.72% | 9.06% | 8.58% | 8.54% |
| Property Operating Expenses | 113.49M | 116.85M | 116.58M | 119.19M | 131.3M | 143.66M | 165.66M | 182.82M | 562.74M | 394.36M |
| Net Operating Income (NOI) | 282.91M▲ 0% | 286.82M▲ 1.4% | 308.92M▲ 7.7% | 328.59M▲ 6.4% | 344.99M▲ 5.0% | 396.27M▲ 14.9% | 448.37M▲ 13.1% | 486.82M▲ 8.6% | 164.34M▼ 66.2% | 350.13M▲ 0% |
| NOI Margin % | 71.37% | 71.05% | 72.6% | 73.38% | 72.43% | 73.39% | 73.02% | 72.7% | 22.6% | 47.03% |
| Operating Expenses | 28.08M | 27.75M | 77.87M | 130.21M | 165.56M | 182.3M | 203.74M | 214.4M | -143.37M | 65.22M |
| G&A Expenses | 28.08M | 27.75M | 28.57M | 32.85M | 34.61M | 33.97M | 37.12M | 40.94M | 41.95M | 49.02M |
| EBITDA | 378.16M | 380.68M | 358.17M | 336.14M | 318.48M | 366.29M | 409.15M | 448.71M | 493.02M | 476.72M |
| EBITDA Margin % | 95.4% | 94.3% | 84.17% | 75.07% | 66.87% | 67.84% | 66.63% | 67.01% | 67.81% | 64.03% |
| Depreciation & Amortization | 123.33M | 121.6M | 127.11M | 137.76M | 139.06M | 152.32M | 164.51M | 176.29M | 185.32M | 191.69M |
| D&A / Revenue % | 31.11% | 30.12% | 29.87% | 30.77% | 29.2% | 28.21% | 26.79% | 26.33% | 25.49% | 25.75% |
| Operating Income | 254.83M▲ 0% | 259.07M▲ 1.7% | 231.05M▼ 10.8% | 198.38M▼ 14.1% | 179.43M▼ 9.6% | 213.97M▲ 19.2% | 244.63M▲ 14.3% | 272.42M▲ 11.4% | 307.71M▲ 13.0% | 285.02M▲ 0% |
| Operating Margin % | 64.29% | 64.18% | 54.3% | 44.3% | 37.67% | 39.63% | 39.84% | 40.68% | 42.32% | 38.28% |
| Interest Expense | 57.2M | 50.77M | 50.27M | 54.72M | 47.53M | 49.01M | 74.33M | 82.97M | 89.92M | 4M |
| Interest Coverage | 2.42x | 2.81x | 3.17x | 3.04x | 6.87x | 6.92x | 4.53x | 4.59x | 4.27x | - |
| Non-Operating Income | 116.36M | 116.46M | 71.93M | 32.27M | -146.89M | -125.08M | -92.02M | -108.32M | -75.81M | -179.53M |
| Pretax Income | 209.49M▲ 0% | 167.24M▼ 20.2% | 247.29M▲ 47.9% | 202.58M▼ 18.1% | 282.05M▲ 39.2% | 404.98M▲ 43.6% | 294.53M▼ 27.3% | 302.06M▲ 2.6% | 279.36M▼ 7.5% | 372.4M▲ 0% |
| Pretax Margin % | 52.85% | 41.43% | 58.12% | 45.24% | 59.22% | 75.01% | 47.97% | 45.11% | 38.42% | 50.02% |
| Income Tax | 1.19M | -92K | 3.41M | 2.41M | 4.88M | 23.36M | 8.69M | 6.08M | 15.28M | 13.39M |
| Effective Tax Rate % | 0.57% | -0.06% | 1.38% | 1.19% | 1.73% | 5.77% | 2.95% | 2.01% | 5.47% | 3.6% |
| Net Income | 201.46M▲ 0% | 163.24M▼ 19.0% | 238.78M▲ 46.3% | 201.58M▼ 15.6% | 271M▲ 34.4% | 359.13M▲ 32.5% | 274.82M▼ 23.5% | 287.34M▲ 4.6% | 247.44M▼ 13.9% | 342.37M▲ 0% |
| Net Margin % | 50.82% | 40.44% | 56.12% | 45.02% | 56.9% | 66.52% | 44.76% | 42.91% | 34.03% | 45.99% |
| Net Income Growth % | 66.17% | -18.97% | 46.27% | -15.58% | 34.44% | 32.52% | -23.48% | 4.56% | -13.89% | 28.15% |
| Funds From Operations (FFO) | 324.79M▲ 0% | 284.84M▼ 12.3% | 365.89M▲ 28.5% | 339.35M▼ 7.3% | 410.05M▲ 20.8% | 511.46M▲ 24.7% | 439.33M▼ 14.1% | 463.64M▲ 5.5% | 432.76M▼ 6.7% | 534.06M▲ 0% |
| FFO Margin % | 81.93% | 70.56% | 85.99% | 75.78% | 86.09% | 94.73% | 71.55% | 69.24% | 59.52% | 71.73% |
| FFO Growth % | 32.49% | -12.3% | 28.45% | -7.25% | 20.84% | 24.73% | -14.1% | 5.53% | -6.66% | 88.59% |
| FFO per Share | 2.73 | 2.29 | 2.89 | 2.65 | 3.16 | 3.87 | 3.32 | 3.50 | 3.27 | 4.03 |
| FFO Payout Ratio % | 30.95% | 38.49% | 32.04% | 37.52% | 34.07% | 30.37% | 38.55% | 41.73% | 53.43% | 43.29% |
| EPS (Diluted) | 1.69▲ 0% | 1.31▼ 22.5% | 1.88▲ 43.5% | 1.53▼ 18.6% | 2.09▲ 36.6% | 2.72▲ 30.1% | 2.07▼ 23.9% | 2.17▲ 4.8% | 1.87▼ 13.8% | 2.58▲ 0% |
| EPS Growth % | 60.95% | -22.49% | 43.51% | -18.62% | 36.6% | 30.14% | -23.9% | 4.83% | -13.82% | 27.72% |
| EPS (Basic) | 1.70 | 1.31 | 1.89 | 1.53 | 2.09 | 2.72 | 2.08 | 2.17 | 1.87 | - |
| Diluted Shares Outstanding | 118.79M | 124.19M | 126.69M | 127.9M | 129.78M | 132.1M | 132.34M | 132.42M | 132.5M | 132.5M |
First Industrial Realty Trust, Inc. (FR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 2.94B | 3.14B | 3.52B | 3.79B | 4.18B | 4.95B | 5.18B | 5.26B | 5.69B | 5.77B |
| Asset Growth % | 5.29% | 6.86% | 11.97% | 7.76% | 10.21% | 18.55% | 4.47% | 1.65% | 8.11% | 24.69% |
| Real Estate & Other Assets | 4.78M | 101.19M | 182.83M | 1.05M | 4.58M | 163.07M | 155.96M | 161.62M | 5.35B | 0 |
| PP&E (Net) | 2.71B | 2.86B | 3.05B | 3.28B | 3.8B | 4.45B | 4.73B | 4.78B | 19.59M | 19.34M |
| Investment Securities | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Total Current Assets | 199.97M | 126.64M | 238.95M | 439.54M | 314.08M | 312.2M | 224.67M | 248.77M | 276.91M | 233.87M |
| Cash & Equivalents | 21.15M | 43.1M | 21.12M | 162.09M | 58.59M | 133.24M | 43.84M | 44.51M | 78.03M | 37.15M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 103.7M | 7.27M | 131.6M | 187.16M | 151.66M | 48.91M | 25.8M | 34.06M | 5.93M | 0 |
| Intangible Assets | 30.48M | 29.68M | 28.53M | 25.21M | 21.32M | 24.09M | 21.52M | 19.31M | 32.08M | 0 |
| Total Liabilities | 1.47B | 1.46B | 1.72B | 1.84B | 1.93B | 2.42B | 2.54B | 2.52B | 2.93B | 2.92B |
| Total Debt | 1.3B | 1.3B | 1.51B | 1.63B | 1.64B | 2.09B | 2.25B | 2.23B | 2.57B | 0 |
| Net Debt | 1.28B | 1.25B | 1.49B | 1.47B | 1.58B | 1.96B | 2.2B | 2.18B | 2.49B | -37.15M |
| Long-Term Debt | 1.3B | 1.3B | 1.49B | 1.61B | 1.61B | 2.07B | 2.22B | 1.93B | 2.55B | 0 |
| Short-Term Borrowings | 0 | 0 | 0 | 439K | 2.67M | 253K | 776K | 282M | 364K | 0 |
| Capital Lease Obligations | 0 | 0 | 22.37M | 22.83M | 22.59M | 22.27M | 21.99M | 17.61M | 19.45M | 336.23M |
| Total Current Liabilities | 113.55M | 107.51M | 142.01M | 140.43M | 190.27M | 220.14M | 175.78M | 570.49M | 241.9M | 0 |
| Accounts Payable | 86.53M | 78.67M | 111.45M | 106.29M | 150.43M | 178.63M | 130.8M | 132.74M | 178.88M | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104.56M | 114.77M | 0 |
| Other Liabilities | 54.64M | 57.49M | 69.43M | 73.16M | 107.84M | 115.32M | 118.58M | 0 | 114.77M | 2.92B |
| Total Equity | 1.48B▲ 0% | 1.68B▲ 13.8% | 1.8B▲ 7.0% | 1.95B▲ 8.3% | 2.25B▲ 15.5% | 2.53B▲ 12.5% | 2.64B▲ 4.1% | 2.75B▲ 4.2% | 2.76B▲ 0.5% | 2.85B▲ 0% |
| Equity Growth % | 14.89% | 13.82% | 7.05% | 8.29% | 15.46% | 12.54% | 4.14% | 4.21% | 0.47% | 7.54% |
| Shareholders Equity | 1.43B | 1.65B | 1.76B | 1.9B | 2.19B | 2.46B | 2.56B | 2.67B | 2.67B | 2.76B |
| Minority Interest | 48.08M | 34.4M | 33.86M | 44.59M | 53.56M | 71.1M | 72.13M | 80.42M | 87.54M | 93.5M |
| Common Stock | 1.2M | 1.26M | 1.27M | 1.29M | 1.32M | 1.32M | 1.32M | 1.32M | 1.32M | 1.33M |
| Additional Paid-in Capital | 1.97B | 2.13B | 2.14B | 2.22B | 2.38B | 2.4B | 2.41B | 2.43B | 2.44B | 0 |
| Retained Earnings | 0 | 0 | 0 | 0 | 0 | 23.13M | 127.71M | 219.09M | 230.67M | 306.73M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 7.03% | 5.37% | 7.17% | 5.51% | 6.8% | 7.86% | 5.43% | 5.51% | 4.52% | 6.11% |
| Return on Equity (ROE) | 14.6% | 10.35% | 13.73% | 10.76% | 12.92% | 15.03% | 10.64% | 10.68% | 8.99% | 12.35% |
| Debt / Assets | 44.1% | 41.3% | 42.89% | 43.02% | 39.13% | 42.16% | 43.42% | 42.33% | 45.23% | 0% |
| Debt / Equity | 0.88x | 0.77x | 0.84x | 0.84x | 0.73x | 0.83x | 0.85x | 0.81x | 0.93x | 0.93x |
| Net Debt / EBITDA | 3.37x | 3.30x | 4.15x | 4.37x | 4.95x | 5.34x | 5.38x | 4.86x | 5.06x | 5.06x |
| Book Value per Share | 12.42 | 13.53 | 14.19 | 15.22 | 17.33 | 19.15 | 19.91 | 20.74 | 20.82 | 21.52 |
First Industrial Realty Trust, Inc. (FR) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 191.43M | 210.5M | 245.62M | 241.08M | 267.03M | 410.9M | 302.31M | 350.42M | 461.34M | 461.34M |
| Operating CF Growth % | 10.44% | 9.97% | 16.68% | -1.85% | 10.76% | 53.88% | -26.43% | 15.92% | 31.65% | 114.73% |
| Operating CF / Revenue % | 48.29% | 52.15% | 57.72% | 53.84% | 56.06% | 76.1% | 49.23% | 52.33% | 63.45% | 61.97% |
| Net Income | 201.46M | 163.24M | 238.78M | 85.51M | 271M | 359.13M | 274.58M | 287.34M | 264.08M | 342.37M |
| Depreciation & Amortization | 126.49M | 125.01M | 97.14M | 141.19M | 107.88M | 119.48M | 162.95M | 171.94M | 195.08M | 144.91M |
| Stock-Based Compensation | 29.25M | 26.98M | 0 | 12.93M | 0 | 0 | 0 | 0 | 0 | 57.77M |
| Other Non-Cash Items | 388K | 3.01M | -136.03M | -390K | -94.27M | -94.12M | -128.45M | -119.55M | -15.57M | -86.52M |
| Working Capital Changes | -11.27M | -3.26M | 10.66M | 1.84M | 13.61M | 26.41M | -6.78M | 10.68M | 17.75M | 20.59M |
| Cash from Investing | -96.23M | -223.4M | -205.39M | -251.74M | -416.82M | -629.11M | -378.31M | -131.62M | -524.18M | -383.31M |
| Acquisitions (Net) | 0 | -25.19M | -210K | -42.74M | -1.55M | -5.62M | -12.35M | -5.73M | -4.37M | 0 |
| Purchase of Investments | -188.47M | -25.19M | -210K | -42.74M | -1.55M | -5.62M | 0 | -5.73M | 0 | -1.88M |
| Sale of Investments | 228.1M | 184.78M | 254.42M | 203.86M | 234.73M | 175.41M | 0 | 158.92M | 0 | 13.87M |
| Other Investing | -324.33M | -2.57M | -205.18M | -208.99M | -415.27M | -270.92M | -365.96M | -279.09M | -519.81M | -395.3M |
| Cash from Financing | -85.05M | 16.78M | 62.11M | 57.6M | 8.91M | 304.5M | -25.27M | -210.96M | 89.19M | -78.65M |
| Dividends Paid | -100.52M | -109.65M | -117.21M | -127.34M | -139.71M | -155.33M | -169.37M | -193.48M | -231.22M | -231.22M |
| Common Dividends | -100.52M | -109.65M | -117.21M | -127.34M | -139.71M | -155.33M | -169.37M | -193.48M | -231.22M | -231.22M |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 3M |
| Share Repurchases | -2.4M | -6.02M | -4.38M | 0 | 0 | 0 | 0 | 0 | -1.61M | 0 |
| Other Financing | -9.27M | 142.61M | -5.42M | -5.64M | -11.69M | -12.52M | -11.58M | -143K | -22.39M | -19.94M |
| Net Change in Cash | 11.29M▲ 0% | 3.89M▼ 65.5% | 102.34M▲ 2530.3% | 46.94M▼ 54.1% | -140.88M▼ 400.1% | 86.34M▲ 161.3% | -101.27M▼ 217.3% | 7.84M▲ 107.7% | 26.35M▲ 236.2% | -263K▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -21.24M |
| Cash at Beginning | 9.86M | 46.48M | 50.37M | 152.72M | 199.66M | 58.78M | 145.12M | 43.84M | 51.68M | 78.03M |
| Cash at End | 21.15M | 50.37M | 152.72M | 199.66M | 58.78M | 145.12M | 43.84M | 51.68M | 78.03M | 37.15M |
| Free Cash Flow | 45.42M▲ 0% | -144.73M▼ 418.6% | -8.59M▲ 94.1% | 79.96M▲ 1031.3% | 33.85M▼ 57.7% | -111.47M▼ 429.3% | -59.62M▲ 46.5% | 134.85M▲ 326.2% | 114.89M▼ 14.8% | 482.96M▲ 0% |
| FCF Growth % | 782.16% | -418.61% | 94.07% | 1031.3% | -57.66% | -429.27% | 46.51% | 326.18% | -14.81% | 43.98% |
| FCF / Revenue % | 11.46% | -35.85% | -2.02% | 17.86% | 7.11% | -20.65% | -9.71% | 20.14% | 15.8% | 64.87% |
First Industrial Realty Trust, Inc. (FR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 2.73 | 2.29 | 2.89 | 2.65 | 3.16 | 3.87 | 3.32 | 3.5 | 3.27 | 4.03 |
| FFO Payout Ratio | 30.95% | 38.49% | 32.04% | 37.52% | 34.07% | 30.37% | 38.55% | 41.73% | 53.43% | 43.29% |
| NOI Margin | 71.37% | 71.05% | 72.6% | 73.38% | 72.43% | 73.39% | 73.02% | 72.7% | 22.6% | 47.03% |
| Net Debt / EBITDA | 3.37x | 3.30x | 4.15x | 4.37x | 4.95x | 5.34x | 5.38x | 4.86x | 5.06x | 5.06x |
| Debt / Assets | 44.1% | 41.3% | 42.89% | 43.02% | 39.13% | 42.16% | 43.42% | 42.33% | 45.23% | 0% |
| Interest Coverage | 2.42x | 2.81x | 3.17x | 3.04x | 6.87x | 6.92x | 4.53x | 4.59x | 4.27x | - |
| Book Value / Share | 12.42 | 13.53 | 14.19 | 15.22 | 17.33 | 19.15 | 19.91 | 20.74 | 20.82 | 21.52 |
| Revenue Growth | 4.86% | 1.84% | 5.41% | 5.24% | 6.37% | 13.36% | 13.72% | 9.06% | 8.58% | 8.54% |
First Industrial Realty Trust, Inc. (FR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 22, 2026·SEC
Mar 27, 2026·SEC
Mar 17, 2026·SEC
First Industrial Realty Trust, Inc. (FR) stock FAQ — growth, dividends, profitability & financials explained
First Industrial Realty Trust, Inc. (FR) reported $744.5M in revenue for fiscal year 2025. This represents a 432% increase from $140.1M in 1996.
First Industrial Realty Trust, Inc. (FR) grew revenue by 8.6% over the past year. This is steady growth.
Yes, First Industrial Realty Trust, Inc. (FR) is profitable, generating $342.4M in net income for fiscal year 2025 (34.0% net margin).
Yes, First Industrial Realty Trust, Inc. (FR) pays a dividend with a yield of 2.79%. This makes it attractive for income-focused investors.
First Industrial Realty Trust, Inc. (FR) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.
First Industrial Realty Trust, Inc. (FR) generated Funds From Operations (FFO) of $534.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.
First Industrial Realty Trust, Inc. (FR) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates