Innovative Industrial Properties, Inc. (IIPR) Earnings History
Annual and quarterly earnings data from 2016 to 2025
Loading earnings history...
IIPR EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
IIPR Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 88.7% | 46.7% | 43.0% |
| 2024 | 90.8% | 54.6% | 52.4% |
| 2023 | 92.0% | 56.4% | 53.5% |
| 2022 | 96.2% | 61.4% | 55.9% |
| 2021 | 97.8% | 66.2% | 55.7% |
Download Data
Export IIPR earnings history in CSV or JSON format
Free sign-in required to download data
Innovative Industrial Properties, Inc. (IIPR) Earnings Overview
As of May 6, 2026, Innovative Industrial Properties, Inc. (IIPR) reported trailing twelve-month net income of $117M, reflecting -28.8% year-over-year growth. The company earned $4.12 per diluted share over the past four quarters, with a net profit margin of 43.0%.
Looking at the long-term picture, IIPR's 5-year EPS compound annual growth rate (CAGR) stands at +3.7%, reflecting modest earnings expansion. The company achieved its highest annual net income of $166M in fiscal 2023.
Innovative Industrial Properties, Inc. maintains industry-leading profitability with a gross margin of 88.7%, operating margin of 46.7%, and net margin of 43.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including REFI ($36.01B net income), SACH ($6M net income, 13.4% margin), O ($1.06B net income, 18.4% margin), IIPR has comparable earnings metrics. Compare IIPR vs REFI →
IIPR Earnings vs Peers
Earnings metrics vs comparable public companies
IIPR Historical Earnings Data (2016–2025)
10 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $114M | -29.2% | $124M | $3.93 | 43.0% | 46.7% |
| 2024 | $162M | -2.4% | $168M | $5.52 | 52.4% | 54.6% |
| 2023 | $166M | +7.3% | $175M | $5.77 | 53.5% | 56.4% |
| 2022 | $154M | +35.4% | $170M | $5.52 | 55.9% | 61.4% |
| 2021 | $114M | +73.4% | $135M | $4.55 | 55.7% | 66.2% |
| 2020 | $66M | +180.0% | $70M | $3.27 | 56.2% | 59.7% |
| 2019 | $23M | +236.1% | $25M | $1.61 | 52.6% | 55.8% |
| 2018 | $7M | +9801.4% | $5M | $0.96 | 47.2% | 36.1% |
| 2017 | $-72,000 | +98.4% | $-223,000 | $-0.02 | -1.1% | -3.5% |
| 2016 | -$4M | - | -$4M | $-4.56 | -1368.2% | -1368.2% |
See IIPR's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs IIPR Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare IIPR vs WELL
Side-by-side business, growth, and profitability comparison vs Welltower Inc..
Start ComparisonIIPR — Frequently Asked Questions
Quick answers to the most common questions about buying IIPR stock.
Is IIPR growing earnings?
IIPR EPS fell to $4.12, with earnings declining -28.8%. This contrasts with the 5-year CAGR of +3.7%. TTM net income dropped to $117M.
What are IIPR's profit margins?
Innovative Industrial Properties, Inc. net margin is +43.0%, with operating margin at +46.7%. Above-average margins indicate pricing power.
How consistent are IIPR's earnings?
IIPR earnings data spans 2016-2025. The declining earnings trend is -28.8% YoY. Historical data enables comparison across business cycles.