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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) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, First Industrial Realty Trust, Inc. (FR) trades at a P/B ratio of 2.5×. Over the past ten years it has ranged from 1.9× (September 2015) to 4.2× (December 2021); the current reading is higher than 34% of that period. That is above the Reit Industrial industry median of 1.9× and above the Real Estate sector median of 1.0×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 2.7× 13.77%
FY2024 2.4× (9.11%)
FY2023 2.7× 6.16%
FY2022 2.5× (34.41%)
FY2021 3.8× 38.20%
FY2020 2.8× (5.30%)
FY2019 2.9× 37.18%
FY2018 2.1× (14.85%)
FY2017 2.5× (0.62%)
FY2016 2.5× 14.78%

Quarterly newest first

Period P/B ratio Change
Sep 2026 2.8× (2.90%)
Jun 2026 2.8× 5.33%
Mar 2026 2.7× (2.16%)
Dec 2025 2.7× 10.53%
43 more quarters

Against its own ten years

Low 1.9× High 4.2×
Ten-year median 2.7×
Current reading's percentile 28

P/B ratio against peers

Company P/B ratio
LINE Lineage, Inc. compare 1.0×
REXR Rexford Industrial Realty, Inc. compare 1.1×
COLD Americold Realty Trust Inc. compare 1.5×
TRNO Terreno Realty Corporation compare 1.6×
SMA Smartstop Self Storage REIT Inc compare 1.7×
STAG Stag Industrial, Inc. compare 1.9×
FR First Industrial Realty Trust, Inc. 2.5×
EGP EastGroup Properties, Inc. compare 2.9×
CUBE CubeSmart compare 4.1×
Reit Industrial industry median 1.9×
Real Estate sector median 1.0×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

More on FR