Innovative Industrial Properties, Inc.
IIPR Real Estate Reit Industrial
Innovative Industrial Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $266.0 million, down 13.8% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 59.8%, free cash flow grew 74.3% and total debt rose 110.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Innovative Industrial Properties, Inc. (IIPR) EV/Sales
As of 16 October 2026, Innovative Industrial Properties, Inc. (IIPR) trades at a EV/Sales of 7.2×. Over the past ten years it has ranged from 0.0× (December 2017) to 62.5× (June 2019); the current reading is higher than 27% of that period. That is below the Reit Industrial industry median of 11.6× and below the Real Estate sector median of 7.6×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 6.3× | (4.35%) |
| FY2024 | 6.6× | (31.51%) |
| FY2023 | 9.6× | (1.77%) |
| FY2022 | 9.8× | (67.80%) |
| FY2021 | 30.3× | 20.10% |
| FY2020 | 25.3× | 53.91% |
| FY2019 | 16.4× | 27.34% |
| FY2018 | 12.9× | (25.91%) |
| FY2017 | 17.4× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 8.2× | 28.72% |
| Mar 2026 | 6.4× | 1.59% |
| Dec 2025 | 6.3× | (3.27%) |
| Sep 2025 | 6.5× | 8.34% |
| 34 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| COLD Americold Realty Trust Inc. compare | 1.7× |
| LINE Lineage, Inc. compare | 2.8× |
| IIPR Innovative Industrial Properties, Inc. | 7.2× |
| SMA Smartstop Self Storage REIT Inc compare | 9.1× |
| ILPT Industrial Logistics Properties Trust compare | 9.8× |
| LXP LXP Industrial Trust compare | 11.2× |
| STAG Stag Industrial, Inc. compare | 11.6× |
| FR First Industrial Realty Trust, Inc. compare | 13.5× |
| TRNO Terreno Realty Corporation compare | 15.4× |
| Reit Industrial industry median | 11.6× |
| Real Estate sector median | 7.6× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)