FIRST INDUSTRIAL REALTY TR (FR) Stock Fundamental Analysis

NYSE:FR • US32054K1034

62.5 USD
+0.29 (+0.47%)
Last: Feb 25, 2026, 02:16 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

FR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 122 industry peers in the Diversified REITs industry. While FR has a great profitability rating, there are quite some concerns on its financial health. FR is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year FR was profitable.
  • In the past year FR had a positive cash flow from operations.
  • Each year in the past 5 years FR has been profitable.
  • Of the past 5 years FR 4 years had a positive operating cash flow.
FR Yearly Net Income VS EBIT VS OCF VS FCFFR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M -400M

1.2 Ratios

  • FR has a better Return On Assets (4.30%) than 85.25% of its industry peers.
  • The Return On Equity of FR (8.93%) is better than 81.97% of its industry peers.
  • The Return On Invested Capital of FR (4.56%) is better than 86.89% of its industry peers.
Industry RankSector Rank
ROA 4.3%
ROE 8.93%
ROIC 4.56%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
FR Yearly ROA, ROE, ROICFR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • FR has a better Profit Margin (33.16%) than 86.07% of its industry peers.
  • In the last couple of years the Profit Margin of FR has declined.
  • The Operating Margin of FR (42.39%) is better than 87.70% of its industry peers.
  • In the last couple of years the Operating Margin of FR has grown nicely.
  • FR has a Gross Margin of 73.70%. This is in the better half of the industry: FR outperforms 65.57% of its industry peers.
  • FR's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 42.39%
PM (TTM) 33.16%
GM 73.7%
OM growth 3Y2.07%
OM growth 5Y2.55%
PM growth 3Y-20.01%
PM growth 5Y-4.88%
GM growth 3Y0.12%
GM growth 5Y0.07%
FR Yearly Profit, Operating, Gross MarginsFR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FR is destroying value.
  • FR has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
FR Yearly Shares OutstandingFR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
FR Yearly Total Debt VS Total AssetsFR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

  • FR has an Altman-Z score of 2.09. This is not the best score and indicates that FR is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 2.09, FR belongs to the best of the industry, outperforming 94.26% of the companies in the same industry.
  • A Debt/Equity ratio of 0.91 indicates that FR is somewhat dependend on debt financing.
  • The Debt to Equity ratio of FR (0.91) is better than 63.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF N/A
Altman-Z 2.09
ROIC/WACC0.61
WACC7.46%
FR Yearly LT Debt VS Equity VS FCFFR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B

2.3 Liquidity

  • A Current Ratio of 0.83 indicates that FR may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.83, FR is in line with its industry, outperforming 45.08% of the companies in the same industry.
  • FR has a Quick Ratio of 0.83. This is a bad value and indicates that FR is not financially healthy enough and could expect problems in meeting its short term obligations.
  • FR has a Quick ratio (0.83) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 0.83
Quick Ratio 0.83
FR Yearly Current Assets VS Current LiabilitesFR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The earnings per share for FR have decreased strongly by -14.68% in the last year.
  • FR shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.98% yearly.
  • Looking at the last year, FR shows a quite strong growth in Revenue. The Revenue has grown by 8.58% in the last year.
  • FR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.17% yearly.
EPS 1Y (TTM)-14.68%
EPS 3Y-11.79%
EPS 5Y3.98%
EPS Q2Q%13.46%
Revenue 1Y (TTM)8.58%
Revenue growth 3Y10.43%
Revenue growth 5Y10.17%
Sales Q2Q%7.3%

3.2 Future

  • The Earnings Per Share is expected to grow by 6.72% on average over the next years.
  • The Revenue is expected to grow by 8.59% on average over the next years. This is quite good.
EPS Next Y0.92%
EPS Next 2Y4.27%
EPS Next 3Y2.51%
EPS Next 5Y6.72%
Revenue Next Year7.42%
Revenue Next 2Y7.01%
Revenue Next 3Y6.98%
Revenue Next 5Y8.59%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
FR Yearly Revenue VS EstimatesFR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
FR Yearly EPS VS EstimatesFR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5 2 2.5

More info and screens

Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 33.60, which means the current valuation is very expensive for FR.
  • The rest of the industry has a similar Price/Earnings ratio as FR.
  • FR's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 26.98.
  • Based on the Price/Forward Earnings ratio of 33.29, the valuation of FR can be described as expensive.
  • FR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. FR is cheaper than 72.95% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of FR to the average of the S&P500 Index (28.01), we can say FR is valued inline with the index average.
Industry RankSector Rank
PE 33.6
Fwd PE 33.29
FR Price Earnings VS Forward Price EarningsFR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • 82.79% of the companies in the same industry are cheaper than FR, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 21.6
FR Per share dataFR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FR does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of FR may justify a higher PE ratio.
PEG (NY)36.39
PEG (5Y)8.44
EPS Next 2Y4.27%
EPS Next 3Y2.51%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.45%, FR has a reasonable but not impressive dividend return.
  • FR's Dividend Yield is slightly below the industry average, which is at 6.88.
  • FR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 3.45%

5.2 History

  • On average, the dividend of FR grows each year by 9.58%, which is quite nice.
  • FR has been paying a dividend for at least 10 years, so it has a reliable track record.
  • FR has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)9.58%
Div Incr Years11
Div Non Decr Years11
FR Yearly Dividends per shareFR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • FR pays out 93.28% of its income as dividend. This is not a sustainable payout ratio.
  • FR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP93.28%
EPS Next 2Y4.27%
EPS Next 3Y2.51%
FR Yearly Income VS Free CF VS DividendFR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M -400M
FR Dividend Payout.FR Dividend Payout, showing the Payout Ratio.FR Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

FIRST INDUSTRIAL REALTY TR

NYSE:FR (2/25/2026, 2:16:33 PM)

62.5

+0.29 (+0.47%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-04
Earnings (Next)04-14
Inst Owners102.82%
Inst Owner Change10.53%
Ins Owners0.36%
Ins Owner Change-5.01%
Market Cap8.28B
Revenue(TTM)727.08M
Net Income(TTM)236.85M
Analysts76
Price Target63.92 (2.27%)
Short Float %2.66%
Short Ratio3.3
Dividend
Industry RankSector Rank
Dividend Yield 3.45%
Yearly Dividend1.46
Dividend Growth(5Y)9.58%
DP93.28%
Div Incr Years11
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)13.95%
Min EPS beat(2)5.91%
Max EPS beat(2)21.98%
EPS beat(4)3
Avg EPS beat(4)16.23%
Min EPS beat(4)-6.04%
Max EPS beat(4)43.08%
EPS beat(8)7
Avg EPS beat(8)42.14%
EPS beat(12)11
Avg EPS beat(12)53.05%
EPS beat(16)15
Avg EPS beat(16)82.07%
Revenue beat(2)0
Avg Revenue beat(2)-2.28%
Min Revenue beat(2)-3.23%
Max Revenue beat(2)-1.33%
Revenue beat(4)0
Avg Revenue beat(4)-1.8%
Min Revenue beat(4)-3.23%
Max Revenue beat(4)-0.19%
Revenue beat(8)0
Avg Revenue beat(8)-2.37%
Revenue beat(12)2
Avg Revenue beat(12)-1.7%
Revenue beat(16)4
Avg Revenue beat(16)-1.39%
PT rev (1m)1.18%
PT rev (3m)6.67%
EPS NQ rev (1m)-0.48%
EPS NQ rev (3m)0.12%
EPS NY rev (1m)2.01%
EPS NY rev (3m)6.11%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.11%
Valuation
Industry RankSector Rank
PE 33.6
Fwd PE 33.29
P/S 11.59
P/FCF N/A
P/OCF 19.89
P/B 3.12
P/tB 3.12
EV/EBITDA 21.6
EPS(TTM)1.86
EY2.98%
EPS(NY)1.88
Fwd EY3%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)3.14
OCFY5.03%
SpS5.39
BVpS20.02
TBVpS20.02
PEG (NY)36.39
PEG (5Y)8.44
Graham Number28.95
Profitability
Industry RankSector Rank
ROA 4.3%
ROE 8.93%
ROCE 5.77%
ROIC 4.56%
ROICexc 4.59%
ROICexgc 4.59%
OM 42.39%
PM (TTM) 33.16%
GM 73.7%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y2.07%
OM growth 5Y2.55%
PM growth 3Y-20.01%
PM growth 5Y-4.88%
GM growth 3Y0.12%
GM growth 5Y0.07%
F-Score6
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF N/A
Debt/EBITDA 4.89
Cap/Depr 249.22%
Cap/Sales 65.66%
Interest Coverage 3.52
Cash Conversion 84.73%
Profit Quality N/A
Current Ratio 0.83
Quick Ratio 0.83
Altman-Z 2.09
F-Score6
WACC7.46%
ROIC/WACC0.61
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.68%
EPS 3Y-11.79%
EPS 5Y3.98%
EPS Q2Q%13.46%
EPS Next Y0.92%
EPS Next 2Y4.27%
EPS Next 3Y2.51%
EPS Next 5Y6.72%
Revenue 1Y (TTM)8.58%
Revenue growth 3Y10.43%
Revenue growth 5Y10.17%
Sales Q2Q%7.3%
Revenue Next Year7.42%
Revenue Next 2Y7.01%
Revenue Next 3Y6.98%
Revenue Next 5Y8.59%
EBIT growth 1Y14.27%
EBIT growth 3Y12.71%
EBIT growth 5Y12.97%
EBIT Next Year82.8%
EBIT Next 3Y28.44%
EBIT Next 5YN/A
FCF growth 1Y-398.88%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y22.31%
OCF growth 3YN/A
OCF growth 5YN/A

FIRST INDUSTRIAL REALTY TR / FR FAQ

Can you provide the ChartMill fundamental rating for FIRST INDUSTRIAL REALTY TR?

ChartMill assigns a fundamental rating of 5 / 10 to FR.


What is the valuation status for FR stock?

ChartMill assigns a valuation rating of 2 / 10 to FIRST INDUSTRIAL REALTY TR (FR). This can be considered as Overvalued.


What is the profitability of FR stock?

FIRST INDUSTRIAL REALTY TR (FR) has a profitability rating of 7 / 10.


What are the PE and PB ratios of FIRST INDUSTRIAL REALTY TR (FR) stock?

The Price/Earnings (PE) ratio for FIRST INDUSTRIAL REALTY TR (FR) is 33.6 and the Price/Book (PB) ratio is 3.12.


Can you provide the dividend sustainability for FR stock?

The dividend rating of FIRST INDUSTRIAL REALTY TR (FR) is 5 / 10 and the dividend payout ratio is 93.28%.