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Rexford Industrial Realty, Inc.

REXR Real Estate Reit Industrial

Rexford Industrial Realty, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 7.13% from fiscal 2024.

Revenue
−5.58%
EPS
−81.1%
Free cash flow
+58.3%
Total debt
−14.8%

Quarter to September 2026, against a year earlier

38.09 0.06 −0.16%
Market cap
$8.1B
P/E
0.0×
Fwd P/E
−29.2×
Dividend yield
4.56%
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

Rexford Industrial Realty, Inc. (REXR) valuation and DCF model

What the price implies · reverse DCF

At $38.09 the price implies FFO a share growing 3.8% a year for ten years.

FFO a share grew 10.2% a year over the last ten years, 10.1% over the last five. The price asks for less than its ten-year rate. The industry’s median company is priced for 4.7%.

In December 2017 the price assumed 11.3% a year; Rexford Industrial Realty, Inc. went on to grow FFO a share 10.2% a year to FY2025.

FFO a share is worked out from Rexford Industrial Realty, Inc.’s 10-Ks and 10-Qs: net income, plus the depreciation of its property and impairments, less gains on property sales.

Price implies
3.8%
Last 5 years, reported
10.1%
Last 10 years, reported
10.2%
Industry median implies
4.7%

The headline discounts the last twelve months’ FFO a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
3.8% a year for ten years
$38.09
today’s price
Its base case
10.2% a year for five years, then 6.1%
$53.95
41.7% above today’s price

Both are growth in FFO a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Rexford Industrial Realty, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · FFO a share
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in FFO a share. It usually slows as the company matures.

Today’s price implies FFO a share growing 3.8% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Rexford Industrial Realty, Inc.’s own cost of capital: risk-free 4.3% + beta 1.14 × equity premium 4.5% = 9.4% cost of equity; weighted, 9.4%.

Use 9.4%
Base case value per share $53.95 ten years discounted, and what follows
Current price $38.09 market price per share
Above today’s price 41.7% upside at the base case’s assumptions

How we got there$22.02 10 years of FFO+$31.93 terminal value=$53.95 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Reit Industrial).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E — 57.64× 67.88× — 29.08× —
P/FCF 31.99× 54.83× 58.86× 46% below 27.37× 17% above
P/B 1.14× 1.19× 1.53× 25% below 1.88× 39% below
EV/EBITDA 15.72× 21.47× 27.20× 42% below 19.77× 20% below
EV/Sales 10.98× 14.06× 17.22× 36% below 11.83× 7% below
P/FFO 17.36× 20.80× 28.34× 39% below — —
P/E P/FCF P/B EV/EBITDA EV/Sales P/FFO
37.25×52.88×68.52×84.15×10Y avg 58.86×2017201820192020202120222023202420252026

REXR trades at 31.99× P/FCF, against a 10-year average of 58.86× (range 31.99×–87.59×). That is cheaper than 100% of the last 9 year-end readings; re-rating to the average implies $70.07 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.