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Friday 6 November 2026 Export FR’s income statement to Excel — free account

First Industrial Realty Trust, Inc.

FR Real Estate Reit Industrial

First Industrial Realty Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $727.1 million, up 8.58% from fiscal 2024.

Revenue
+8.65%
EPS
−10.2%
Free cash flow
−240.7%
Total debt
+9.93%

Quarter to September 2026, against a year earlier

53.76 0.16 −0.30%
Market cap
$7.4B
P/E
20.1×
Fwd P/E
21.7×
Dividend yield
3.60%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

First Industrial Realty Trust, Inc. (FR) Debt to equity

Alert me on Debt to equity

First Industrial Realty Trust, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.9×, down 0.0× from fiscal 2025 (0.9×). Over the past ten years it has ranged from 0.7× (fiscal 2021) to 1.3× (fiscal 2015); the current reading is higher than 82% of that period. That is above the Reit Industrial industry median of 0.8× and above the Real Estate sector median of 0.7×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.9× 15.04%
FY2024 0.8× (4.69%)
FY2023 0.8× 3.37%
FY2022 0.8× 14.03%
FY2021 0.7× (12.55%)
FY2020 0.8× (0.74%)
FY2019 0.8× 6.80%
FY2018 0.8× (12.10%)
FY2017 0.9× (16.19%)
FY2016 1.0× (18.47%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.9× 2.94%
Jun 2026 0.9× (0.63%)
Mar 2026 0.9× (2.80%)
Dec 2025 0.9× 5.58%
43 more quarters

Against its own ten years

Low 0.7× High 1.3×
Ten-year median 0.8×
Current reading's percentile 82

Debt to equity against peers

Company Debt to equity
COLD Americold Realty Trust Inc. compare 0.1×
TRNO Terreno Realty Corporation compare 0.2×
REXR Rexford Industrial Realty, Inc. compare 0.4×
EGP EastGroup Properties, Inc. compare 0.5×
LINE Lineage, Inc. compare 0.8×
SMA Smartstop Self Storage REIT Inc compare 0.9×
STAG Stag Industrial, Inc. compare 0.9×
FR First Industrial Realty Trust, Inc. 0.9×
CUBE CubeSmart compare 1.4×
Reit Industrial industry median 0.8×
Real Estate sector median 0.7×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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