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Industrial Logistics Properties Trust

ILPT Real Estate Reit Industrial

Industrial Logistics Properties Trust’s revenue for fiscal 2025 (year ended December 2025) was $448.8 million, up 1.48% from fiscal 2024.

Revenue
+5.29%
EPS
−72.9%
Free cash flow
−59.0%
Total debt
−0.26%

Quarter to September 2026, against a year earlier

5.91 0.12 −1.99%
Market cap
$403.9M
P/E
0.0×
Fwd P/E
−10.7×
Dividend yield
4.97%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.02
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 16.50%

Capital & Financial Ratios $m

Size
Market Cap 403.91
Revenue ttm 461.26
Net income ttm (89.36)
Free cash flow ttm 47.76
Net debt Q 4,006.31
Valuation
P/E 0.00
Forward P/E (10.70) (negative: loss-making)
Price / sales 0.87
Forward P/S Powerpack
Price / FCF 8.39
Price / book 0.50
Financial health
Current ratio Q 3.78
Debt / equity Q 5.27
Interest coverage Q 0.67
Growth
Revenue growth Q +5.29% (above 0%: growing)
Operating income growth Q +40.12% (above 0%: growing)
EPS, this year −9.00% (below 0%: weak)
EPS, next year A −1.38% (below 0%: weak)
Revenue, next year A +3.93%
EPS, past 5 yrs —
EPS, next 5 yrs A +21.70% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.6×, against a ten-year median of 10.2×; over the ten years it ranged from 8.7× in 2021 to 23.0× in 2022.
P/S against its own 10 years 36.19%
10-year low 10-year high
P/B against its own 10 years 42.82%
10-year low 10-year high
EV/Sales against its own 10 years 3.02%
10-year low 10-year high
EV/FCF against its own 10 years 51.52%
10-year low 10-year high

Dividends raised 2 years running

Yield
4.97%
Annual rate
0.30
Payout ratio
—
Growth, 2018–26
−13.2%/yr
  1. 0.93 ’18
  2. 1.32 ’19 +42
  3. 1.32 ’20 +0
  4. 1.32 ’21 +0
  5. 0.68 ’22 −48
  6. 0.04 ’23 −94
  7. 0.04 ’24 +0
  8. 0.12 ’25 +200
  9. 0.30 ’26 +150
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 246 242 183 180
Receivables 119 129 137 146
Inventory — — — —
Other — — — —
365 372 320 325
2023 2024 2025 Q'26
Payables 72 77 75 86
ST’ Debt — — — —
Other — — — —
72 77 75 86

Compound Annual Growth %

10y 5y 3y
Sales 11.74% 12.01% 4.96%
Cash Flow (3.59%) (11.94%) (10.01%)
Earnings 0.00% 0.00% 0.00%
Book Value (3.85%) (2.13%) (12.20%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.35 Actual −0.46

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.28 −0.03 Miss by 0.31
Q1 FY26 0.31 −0.14 Miss by 0.45
Q2 FY26 0.32 −0.22 Miss by 0.54
Q3 FY26 0.35 −0.46 Miss by 0.81
Q4 FY26 0.37 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.14) (0.22) (0.57) — —
’25 (0.33) (0.32) (0.33) (0.03) (1.00)
’24 (0.36) (0.35) (0.38) (0.37) (1.46)
’23 (0.38) (0.40) (0.40) (0.48) (1.65)
’22 (0.10) (2.20) (0.70) (0.48) (3.47)
’21 0.30 0.29 0.28 0.97 1.83
’20 0.20 0.23 0.22 0.62 1.26
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 116 114 117 — —
’25 112 112 111 114 449
’24 112 111 109 111 442
’23 110 108 110 109 437
’22 71 107 103 106 388
’21 54 54 55 56 220
’20 64 65 65 60 255
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 16 22 13 — —
’25 11 18 23 8 61
’24 8 11 (3) (13) 2
’23 1 9 3 (8) 6
’22 57 24 1 1 83
’21 30 33 26 22 111
’20 29 33 30 22 115
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 13 20 7 — —
’25 5 15 18 8 46
’24 6 9 (6) (13) (4)
’23 (2) 6 (3) 10 11
’22 (3,502) 26 (40) (8) (3,524)
’21 29 (2) (74) 180 133
’20 (44) 33 29 (13) 3
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 153 157 163 229 255 220 388 437 442 449 461 +12.7% 467 480 485 +2.6%
Gross margin, % 88.78 88.58 88.10 86.75 86.18 86.29 86.96 86.27 85.86 86.26 85.73 (2.5) pt
EBT 87 80 74 52 81 79 (294) (151) (142) (122) (90) n/m
EBT margin, % 56.71 51.21 45.79 22.69 31.80 35.95 (75.71) (34.42) (32.18) (27.28) (19.59) (84.0) pt
Net income 87 80 74 52 81 120 (287) (150) (137) (103) (89) n/m
Per share, $
Per share, $ Revenue 3.41 3.48 2.53 3.52 3.91 3.37 5.95 6.68 6.73 6.80 6.95 +8.0%
Earnings 1.93 1.78 1.16 0.81 1.26 1.83 (3.47) (1.65) (1.46) (1.00) (0.96) n/m
Cash flow 2.43 2.30 1.51 1.79 1.76 1.70 1.28 0.09 0.03 0.92 0.89 (10.2%)
Capex (0.03) (0.14) (1.98) (13.86) (1.71) 0.34 (55.28) 0.07 (0.09) (0.23) (0.17) +25.1%
Free cash flow 2.40 2.16 (0.47) (12.07) 0.05 2.04 (54.01) 0.17 (0.06) 0.69 0.72 (12.9%)
Book value 29.18 12.49 16.03 15.31 15.41 15.93 20.40 17.76 15.36 13.65 11.98 (8.1%)
Shares, m 45 45 64 65 65 65 65 65 66 66 66 +4.3%
Valuation, ×
Valuation, × P/E 13.12 13.12 16.96 27.68 18.34 13.61 0.00 0.00 0.00 0.00 0.00 10.3
P/S 6.71 6.71 7.76 6.36 5.96 7.42 0.59 0.71 0.54 0.81 0.87 4.4
P/B 1.87 1.87 1.23 1.46 1.51 1.57 0.17 0.27 0.24 0.41 0.50 1.1
EV/Sales 11.82 11.82 10.55 12.35 9.27 11.06 11.16 9.99 9.72 9.75 9.55 10.7
EV/FCF 19.04 19.04 (56.89) (3.60) 679.73 18.32 (1.23) 399.34 (1,150.70) 95.64 92.27 1.9
Cash, $m
Cash, $m Operating cash flow 109 103 97 116 115 111 83 6 2 61 59 (6.3%)
Capex (1) (6) (127) (902) (111) 22 (3,607) 5 (6) (15) (11) +30.5%
Free cash flow 108 97 (30) (785) 3 133 (3,524) 11 (4) 46 48 (9.1%)
Balance, $m
Balance, $m Working capital 37 41 55 81 78 78 174 292 295 245 239 +23.4%
Net debt 64 799 453 1,372 844 799 4,104 4,060 4,058 4,010 4,006 +58.3%
Shareholders’ equity 1,313 562 1,028 996 1,003 1,038 1,331 1,162 1,009 901 795 (4.1%)
Returns, %
Returns, % ROA 6.07 5.65 5.05 2.63 3.76 6.26 (5.98) (1.92) (1.74) (1.25) (1.08) (7.3) pt
ROIC 4.05 3.79 3.81 2.70 3.67 3.49 0.13 1.54 1.71 1.81 2.02 (2.2) pt
ROE 6.56 8.54 9.35 5.19 8.21 11.73 (19.14) (8.66) (8.81) (6.93) (6.54) (13.5) pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Industrial Logistics Properties Trust vs peers in Reit Industrial (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LINE Lineage, Inc. $9.0B — (loss-making) — (loss-making) +0.81% (above 0%: growing) n/m +91.92% (above 0%: growing) 31.23% 3.97% Compare
REXR Rexford Industrial Realty, Inc. $8.1B — (loss-making) — (loss-making) −5.58% (below 0%: shrinking) −81.08% (below 0%: shrinking) +58.30% (above 0%: growing) 76.16% 39.41% Compare
FR First Industrial Realty Trust, Inc. $7.4B 20.1× 21.7× +8.65% (above 0%: growing) −10.20% (below 0%: shrinking) −240.72% (below 0%: shrinking) 74.45% 44.21% Compare
TRNO Terreno Realty Corporation $7.3B 19.9× 33.2× +13.74% (above 0%: growing) −38.00% (below 0%: shrinking) +118.95% (above 0%: growing) 75.26% 42.18% Compare
STAG Stag Industrial, Inc. $7.1B 26.1× 33.6× +9.44% (above 0%: growing) +44.00% (above 0%: growing) +2,111.22% (above 0%: growing) 79.99% 38.36% Compare
COLD Americold Realty Trust Inc. $4.5B 19.0× — (loss-making) +4.20% (above 0%: growing) n/m +237.07% (above 0%: growing) 32.79% 107.39% Compare
SMA Smartstop Self Storage REIT Inc $2.3B 75.1× 54.8× +18.65% (above 0%: growing) n/m +93.06% (above 0%: growing) 60.10% 22.55% Compare
IIPR Innovative Industrial Properties, Inc. $1.5B 11.8× 12.2× +0.36% (above 0%: growing) +17.77% (above 0%: growing) +8.47% (above 0%: growing) 89.31% 45.26% Compare
ILPT Industrial Logistics Properties Trust $403.9M — (loss-making) — (loss-making) +5.29% (above 0%: growing) n/m −59.02% (below 0%: shrinking) 86.08% 35.09%
Median of peers $7.2B 20.0× 33.2× +6.43% −10.20% +92.49% 74.86% 40.80%

All 14 Reit Industrial stocks →

Pay and ownership Proxy statement filed 18 March 2026

Ownership

Directors and executive officers, together 2.30%
MCB LP Acquisitions LLC (“MCB”) 9.60% of the votes
BlackRock, Inc. (“Blackrock”) 7.40% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Industrial Logistics Properties Trust (ILPT) Latest News

29 Oct

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28 Oct

Impact 3 · · Zacks
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7 Oct

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21 Sep

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30 Jul

Impact 3 · transcript
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29 Jul

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11 Jun

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26 May

Impact 3 · · Simply Wall St.

8 May

Impact 3 · · MarketBeat

3 May

Impact 3 · · Simply Wall St.

30 Apr

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

29 Apr

Impact 4 · · Zacks
Impact 3 · · Business Wire

23 Apr

Impact 4 ·

22 Apr

Impact 4 · · Business Wire

3 Mar

Impact 3 · · Zacks

19 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 3 · · MarketBeat

18 Feb

Impact 4 · · Zacks
Impact 4 · · Business WireGuruFocus.comGuruFocus.comZacks

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Impact 3 · · Insider Monkey

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stockrow.com/ILPT · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com