11 years of historical data (2015–2025) · Real Estate · REIT - Industrial
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Industrial Logistics Properties Trust currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 6.4x P/FCF, 84% below the 5-year average of 39.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $391M | $366M | $240M | $308M | $213M | $1.6B | $1.5B | $1.5B | $1.3B | — | — |
| Enterprise Value | $208M | $183M | $4.4B | $4.5B | $4.4B | $2.4B | $2.4B | $2.8B | $1.7B | — | — |
| P/E Ratio → | -5.86 | — | — | — | — | 13.69 | 18.48 | 27.68 | 16.96 | — | — |
| P/S Ratio | 0.87 | 0.81 | 0.54 | 0.70 | 0.55 | 7.43 | 5.96 | 6.36 | 7.76 | — | — |
| P/B Ratio | 0.43 | 0.41 | 0.24 | 0.26 | 0.16 | 1.57 | 1.51 | 1.46 | 0.84 | — | — |
| P/FCF | 6.44 | 6.03 | 122.16 | 50.75 | 3.26 | 15.45 | 13.95 | 14.71 | 13.75 | — | — |
| P/OCF | 6.44 | 6.03 | 122.16 | 50.75 | 2.56 | 14.76 | 13.24 | 12.54 | 13.04 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Industrial Logistics Properties Trust's enterprise value stands at 0.4x EBITDA, 97% below its 5-year average of 12.3x. The Real Estate sector median is 13.6x, placing the stock at a 97% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.41 | 10.00 | 10.33 | 11.42 | 11.12 | 9.27 | 12.37 | 10.66 | — | — |
| EV / EBITDA | 0.40 | 0.35 | 14.23 | 14.68 | 16.19 | 15.84 | 8.81 | 17.54 | 14.72 | — | — |
| EV / EBIT | 0.59 | — | 29.45 | 32.75 | — | 21.32 | 21.78 | 27.58 | 19.14 | — | — |
| EV / FCF | — | 3.01 | 2253.47 | 745.94 | 67.65 | 23.12 | 21.71 | 28.61 | 18.88 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Industrial Logistics Properties Trust earns an operating margin of 78.0%, significantly above the Real Estate sector average of 22.0%. Operating margins have expanded from 29.5% to 78.0% over the past 3 years, signaling improving operational efficiency. A negative ROE of -6.9% indicates the company is currently destroying shareholder equity. ROIC of 8.9% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.3% | 86.3% | 85.9% | 86.3% | 87.0% | 86.3% | 78.5% | 86.8% | 88.1% | 88.6% | 88.8% |
| Operating Margin | 78.0% | 78.0% | 31.4% | 29.5% | 29.1% | 47.2% | 78.4% | 44.5% | 55.6% | 52.8% | 58.2% |
| Net Profit Margin | -14.7% | -14.7% | -21.6% | -24.7% | -58.4% | 54.4% | 32.2% | 22.9% | 45.8% | 51.2% | 56.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.9% | -6.9% | -8.8% | -8.7% | -19.1% | 11.7% | 8.2% | 4.2% | 5.2% | 5.8% | 6.4% |
| ROA | -1.2% | -1.2% | -1.7% | -1.9% | -6.0% | 6.3% | 3.8% | 2.6% | 5.0% | 5.7% | 6.1% |
| ROIC | 8.9% | 8.9% | 2.0% | 1.8% | 2.3% | 4.2% | 7.1% | 3.5% | 3.2% | 3.3% | 4.5% |
| ROCE | 6.6% | 6.6% | 2.6% | 2.3% | 3.1% | 5.8% | 9.2% | 5.8% | 10.4% | 8.1% | 6.3% |
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $183M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 4.28 | 3.72 | 3.21 | 0.81 | 0.86 | 1.41 | 0.32 | 0.59 | 0.06 |
| Debt / EBITDA | — | — | 13.89 | 14.04 | 15.58 | 5.45 | 3.23 | 8.70 | 4.08 | 7.54 | 0.75 |
| Net Debt / Equity | — | -0.20 | 4.15 | 3.63 | 3.17 | 0.78 | 0.84 | 1.38 | 0.31 | 0.61 | 0.08 |
| Net Debt / EBITDA | -0.36 | -0.36 | 13.46 | 13.68 | 15.41 | 5.26 | 3.15 | 8.52 | 4.00 | 7.73 | 0.95 |
| Debt / FCF | — | -3.02 | 2131.31 | 695.19 | 64.39 | 7.67 | 7.76 | 13.90 | 5.13 | 8.62 | 1.01 |
| Interest Coverage | — | — | 0.47 | 0.45 | 0.40 | 2.91 | 3.87 | 2.01 | 5.62 | 33.86 | 39.44 |
Net cash position: cash ($183M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
The current ratio has declined from 4.71x to 4.56x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 4.56 | 4.71 | 3.16 | 0.50 | 6.46 | 6.00 | 0.16 | 0.07 | 2.81 |
| Quick Ratio | — | — | 4.56 | 4.71 | 3.16 | 0.50 | 6.46 | 6.00 | 0.16 | 1.86 | 86.29 |
| Cash Ratio | 1.62 | — | 1.62 | 1.45 | 0.62 | 0.14 | 1.55 | 1.72 | 0.02 | -0.03 | -1.34 |
| Asset Turnover | — | 0.09 | 0.08 | 0.08 | 0.07 | 0.12 | 0.13 | 0.09 | 0.11 | 0.11 | 0.11 |
| Inventory Turnover | 0.25 | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Industrial Logistics Properties Trust returns 0.1% to shareholders annually primarily through share buybacks.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 1.1% | 0.9% | 20.8% | 5.3% | 5.7% | 5.9% | 5.5% | — | — |
| Payout Ratio | — | — | — | — | — | 72.1% | 104.9% | 163.7% | 93.7% | 192.1% | 177.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 7.3% | 5.4% | 3.6% | 5.9% | — | — |
| FCF Yield | 15.5% | 16.6% | 0.8% | 2.0% | 30.7% | 6.5% | 7.2% | 6.8% | 7.3% | — | — |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.1% | 0.1% | 1.2% | 0.9% | 21.0% | 5.3% | 5.7% | 5.9% | 5.5% | — | — |
| Shares Outstanding | — | $66M | $66M | $65M | $65M | $65M | $65M | $65M | $64M | $65M | $65M |
Compare ILPT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| ILPTYou | $391M | -5.9 | 0.4 | 6.4 | 86.3% | 78.0% | -6.9% | 8.9% | — |
| PLD | $132B | 35.6 | 23.2 | 27.0 | 74.9% | 53.8% | 6.4% | 3.8% | 4.5 |
| EGP | $10B | 42.1 | 19.9 | 29.3 | 72.7% | 69.4% | 7.7% | 7.3% | 2.6 |
| REXR | $9B | 31.2 | 13.5 | 82.7 | 77.5% | 68.8% | 3.2% | 4.3% | 3.8 |
| FR | $8B | 29.1 | 22.2 | 62.0 | 72.6% | 44.3% | 10.7% | 4.6% | 4.7 |
| STAG | $7B | 26.9 | 23.8 | 15.8 | — | 0.7% | 7.6% | 0.1% | — |
| TRNO | $7B | 16.9 | 25.5 | 32.8 | 50.3% | 40.3% | 10.3% | 2.9% | 3.8 |
| GRP-UN | $4B | 15.6 | 19.2 | 15.9 | 82.9% | 76.5% | 6.5% | 3.8% | 7.1 |
| LXP | $3B | 27.2 | — | 17.9 | 81.6% | 0.8% | 5.1% | 0.1% | — |
| PLYM | $979M | 7.1 | 13.3 | 10.2 | 68.9% | 18.2% | 25.9% | 2.1% | 5.4 |
| LPA | $80M | -2.7 | 15.0 | 30.1 | 84.1% | 48.5% | -11.0% | 3.1% | 12.5 |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 11 years · Updated daily
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Start ComparisonIndustrial Logistics Properties Trust's current P/E ratio is -5.9x. The historical average is 19.2x.
Industrial Logistics Properties Trust's current EV/EBITDA is 0.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.8x.
Industrial Logistics Properties Trust's return on equity (ROE) is -6.9%. The historical average is 0.3%.
Based on historical data, Industrial Logistics Properties Trust is trading at a P/E of -5.9x. Compare with industry peers and growth rates for a complete picture.
Industrial Logistics Properties Trust has 86.3% gross margin and 78.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.