Last 48 quarters of trend data · Real Estate · REIT - Industrial
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
First Industrial Realty Trust, Inc.'s quarterly P/E stands at 13.4x, down 64.3% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 25.9% YoY to 16.1x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.05 | 13.39 | 24.27 | 26.26 | 28.65 | 37.47 | 24.10 | 18.66 | 30.46 | 25.26 | 19.65 | 20.87 | 32.10 |
| — | -64.3% | +0.7% | +40.7% | -5.9% | +48.3% | +22.6% | -10.6% | -5.1% | -20.2% | +1.0% | +75.1% | +138.0% | |
| P/S Ratio | 11.27 | 9.84 | 10.07 | 9.40 | 8.86 | 10.08 | 9.47 | 11.02 | 9.52 | 10.63 | 10.99 | 10.06 | 11.34 |
| — | -2.5% | +6.4% | -14.7% | -6.9% | -5.2% | -13.8% | +9.5% | -16.0% | -9.7% | -0.4% | -5.0% | -6.0% | |
| P/B Ratio | 2.97 | 2.69 | 2.75 | 2.49 | 2.33 | 2.61 | 2.42 | 2.73 | 2.35 | 2.60 | 2.65 | 2.42 | 2.72 |
| — | +3.2% | +13.8% | -9.0% | -0.7% | +0.1% | -8.6% | +13.1% | -13.7% | -6.5% | +4.9% | +1.4% | +2.8% | |
| P/FCF | 71.31 | 21.55 | 15.54 | 11.69 | 12.64 | 20.18 | 21.61 | 17.57 | 24.34 | 27.83 | — | — | 208.34 |
| — | +6.8% | -28.1% | -33.5% | -48.0% | -27.5% | — | — | -88.3% | — | — | — | +757.1% | |
| EV / EBITDA | 21.68 | 16.13 | 19.74 | 19.35 | 20.98 | 21.78 | 19.13 | 16.46 | 22.02 | 19.56 | 17.20 | 18.02 | 23.57 |
| — | -25.9% | +3.2% | +17.6% | -4.7% | +11.3% | +11.2% | -8.7% | -6.6% | -31.5% | +3.5% | +54.0% | -9.8% | |
| EV / EBIT | 34.73 | 10.76 | 21.12 | 27.42 | 27.83 | 34.43 | 30.19 | 33.99 | 30.74 | 36.64 | 35.13 | 33.19 | 36.46 |
| — | -68.8% | -30.0% | -19.3% | -9.5% | -6.0% | -14.1% | +2.4% | -15.7% | -7.4% | -0.7% | -2.6% | -8.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
First Industrial Realty Trust, Inc.'s operating margin was 35.0% in Q1 2026, down 7.0 pp QoQ and up 3.8 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 38.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 71.0% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.6% | 21.1% | 21.0% | 74.5% | 74.7% | 72.6% | 72.4% | 73.2% | 73.7% | 71.0% | 73.4% | 72.4% | 73.2% |
| — | -71.0% | -71.0% | +1.9% | +1.3% | +2.3% | -1.4% | +1.0% | +0.6% | -0.4% | -0.2% | -2.3% | +0.1% | |
| Operating Margin | 42.3% | 35.0% | 42.0% | 44.5% | 31.7% | 31.2% | 40.2% | 62.4% | 31.6% | 43.0% | 57.2% | 48.5% | 36.0% |
| — | +12.1% | +4.4% | -28.6% | +0.4% | -27.4% | -29.8% | +28.5% | -12.2% | +59.3% | -4.0% | -46.6% | +17.9% | |
| Net Margin | 34.0% | 73.5% | 41.8% | 36.0% | 30.7% | 27.1% | 39.0% | 59.1% | 31.1% | 41.9% | 56.2% | 47.9% | 35.6% |
| — | +170.8% | +7.2% | -39.1% | -1.3% | -35.2% | -30.6% | +23.3% | -12.6% | +11.8% | -0.9% | -45.9% | -60.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 5.1% | 2.9% | 2.4% | 2.0% | 1.8% | 2.5% | 3.7% | 1.9% | 2.6% | 3.4% | 2.9% | 2.1% |
| — | +191.3% | +14.4% | -35.3% | +5.0% | -32.1% | -26.3% | +27.0% | -10.7% | +16.5% | +4.1% | -43.0% | -57.4% | |
| ROA | 4.5% | 2.5% | 1.4% | 1.2% | 1.0% | 0.9% | 1.3% | 1.9% | 1.0% | 1.3% | 1.7% | 1.5% | 1.1% |
| — | +178.2% | +7.7% | -37.6% | +2.6% | -32.0% | -24.3% | +30.4% | -9.4% | +16.8% | +3.4% | -43.6% | -57.9% | |
| ROIC | 4.5% | 1.3% | 1.1% | 1.1% | 0.8% | 0.8% | 1.1% | 1.6% | 0.8% | 1.1% | 1.4% | 1.2% | 0.9% |
| — | +53.2% | +0.2% | -30.7% | +4.5% | -23.8% | -23.8% | +34.3% | -10.4% | +62.5% | -3.3% | -46.3% | +23.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.93 | — | 0.93 | 1.10 | 0.88 | 0.87 | 0.81 | 0.81 | 0.84 | 0.84 | 0.85 | 0.85 | 0.86 |
| — | — | +15.0% | +35.5% | +5.3% | +3.7% | -4.9% | -5.0% | -2.7% | +1.2% | +3.3% | +5.9% | +5.8% | |
| Debt / EBITDA | 5.22 | — | 20.15 | 23.77 | 23.12 | 21.96 | 19.32 | 15.11 | 23.26 | 19.24 | 16.85 | 18.92 | 22.83 |
| — | — | +4.3% | +57.2% | -0.6% | +14.1% | +14.7% | -20.1% | +1.9% | -27.4% | +1.2% | +57.0% | -8.6% | |
| Current Ratio | 1.14 | — | 1.12 | 0.90 | 0.44 | 1.12 | 1.40 | 1.21 | 1.48 | 1.46 | 1.28 | 1.94 | 1.14 |
| — | — | -20.0% | -25.6% | -69.9% | -23.2% | +9.5% | -37.7% | +29.1% | -26.5% | -9.9% | +4.3% | -33.3% | |
| Quick Ratio | 1.14 | — | 1.12 | 0.90 | 0.44 | 1.12 | 1.40 | 1.21 | 1.48 | 1.46 | 1.28 | 1.94 | 1.14 |
| — | — | -20.0% | -25.6% | -69.9% | -23.2% | +9.5% | -37.7% | +29.1% | -26.5% | -9.9% | +4.3% | -33.3% | |
| Interest Coverage | 4.27 | 6.99 | 5.12 | 4.11 | 3.41 | 3.38 | 3.63 | 3.37 | 3.13 | 2.87 | 3.06 | 3.06 | 3.32 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying FR stock.
First Industrial Realty Trust, Inc.'s current P/E is 33.0x. The average P/E over the last 4 quarters is 23.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
First Industrial Realty Trust, Inc.'s current operating margin is 42.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking First Industrial Realty Trust, Inc.'s business trajectory between earnings reports.