FIRST INDUSTRIAL REALTY TR (FR) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FR - US32054K1034 - REIT
59.9 USD
+0.59 (+0.99%)
59.9 USD
0 (0%)
FR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 125 industry peers in the Diversified REITs industry. While FR belongs to the best of the industry regarding profitability, there are concerns on its financial health. While showing a medium growth rate, FR is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
- In the past year FR was profitable.
- FR had a positive operating cash flow in the past year.
- FR had positive earnings in each of the past 5 years.
- Each year in the past 5 years FR had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of FR (4.30%) is better than 85.60% of its industry peers.
- Looking at the Return On Equity, with a value of 8.93%, FR belongs to the top of the industry, outperforming 82.40% of the companies in the same industry.
- FR has a better Return On Invested Capital (4.56%) than 88.00% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for FR is in line with the industry average of 3.07%.
- The 3 year average ROIC (3.94%) for FR is below the current ROIC(4.56%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.3% | ||
| ROE | 8.93% | ||
| ROIC | 4.56% |
ROA(3y)6%
ROA(5y)5.93%
ROE(3y)12.03%
ROE(5y)11.74%
ROIC(3y)3.94%
ROIC(5y)3.81%
1.3 Margins
- With an excellent Profit Margin value of 33.16%, FR belongs to the best of the industry, outperforming 86.40% of the companies in the same industry.
- In the last couple of years the Profit Margin of FR has declined.
- FR has a better Operating Margin (42.39%) than 88.00% of its industry peers.
- In the last couple of years the Operating Margin of FR has grown nicely.
- FR has a better Gross Margin (73.70%) than 67.20% of its industry peers.
- FR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.39% | ||
| PM (TTM) | 33.16% | ||
| GM | 73.7% |
OM growth 3Y2.79%
OM growth 5Y1.77%
PM growth 3Y-8.94%
PM growth 5Y-5.16%
GM growth 3Y0.12%
GM growth 5Y0.02%
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 about the same amout of shares outstanding than it did 1 year ago.
- Compared to 5 years ago, FR has more shares outstanding
- The debt/assets ratio for FR has been reduced compared to a year ago.
2.2 Solvency
- An Altman-Z score of 2.02 indicates that FR is not a great score, but indicates only limited risk for bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 2.02, FR belongs to the top of the industry, outperforming 94.40% of the companies in the same industry.
- FR has a Debt/Equity ratio of 0.91. This is a neutral value indicating FR is somewhat dependend on debt financing.
- FR's Debt to Equity ratio of 0.91 is fine compared to the rest of the industry. FR outperforms 68.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.02 |
ROIC/WACC0.6
WACC7.59%
2.3 Liquidity
- FR has a Current 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 Current ratio (0.83) which is comparable to the rest of the 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.
- Looking at the Quick ratio, with a value of 0.83, FR is in line with its industry, outperforming 46.40% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.83 |
3. Growth
3.1 Past
- The earnings per share for FR have decreased strongly by -23.18% in the last year.
- The Earnings Per Share has been growing slightly by 3.01% on average over the past years.
- Looking at the last year, FR shows a quite strong growth in Revenue. The Revenue has grown by 9.66% in the last year.
- The Revenue has been growing by 9.47% on average over the past years. This is quite good.
EPS 1Y (TTM)-23.18%
EPS 3Y1.58%
EPS 5Y3.01%
EPS Q2Q%-34.67%
Revenue 1Y (TTM)9.66%
Revenue growth 3Y12.03%
Revenue growth 5Y9.47%
Sales Q2Q%8.22%
3.2 Future
- The Earnings Per Share is expected to grow by 0.96% on average over the next years.
- The Revenue is expected to grow by 8.69% on average over the next years. This is quite good.
EPS Next Y-20.86%
EPS Next 2Y-8.12%
EPS Next 3Y-3.1%
EPS Next 5Y0.96%
Revenue Next Year9.23%
Revenue Next 2Y8.32%
Revenue Next 3Y7.64%
Revenue Next 5Y8.69%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- FR is valuated quite expensively with a Price/Earnings ratio of 33.46.
- Based on the Price/Earnings ratio, FR is valued a bit cheaper than 61.60% of the companies in the same industry.
- FR's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.38.
- A Price/Forward Earnings ratio of 32.55 indicates a quite expensive valuation of FR.
- Based on the Price/Forward Earnings ratio, FR is valued a bit cheaper than the industry average as 75.20% of the companies are valued more expensively.
- The average S&P500 Price/Forward Earnings ratio is at 24.29. FR is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.46 | ||
| Fwd PE | 32.55 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FR is valued more expensive than 83.20% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 20.98 |
4.3 Compensation for Growth
- The excellent profitability rating of FR may justify a higher PE ratio.
- A cheap valuation may be justified as FR's earnings are expected to decrease with -3.10% in the coming years.
PEG (NY)N/A
PEG (5Y)11.13
EPS Next 2Y-8.12%
EPS Next 3Y-3.1%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 3.00%, FR has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 6.59, FR's dividend is way lower than its industry peers. On top of this 80.80% of the companies listed in the same industry pay a better dividend than FR!
- FR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.84.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3% |
5.2 History
- The dividend of FR is nicely growing with an annual growth rate of 9.58%!
- FR has paid a dividend for at least 10 years, which is a reliable track record.
- FR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.58%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
- 93.28% of the earnings are spent on dividend by FR. 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 2Y-8.12%
EPS Next 3Y-3.1%
59.9
+0.59 (+0.99%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)10-15 2025-10-15/amc
Earnings (Next)02-04 2026-02-04/amc
Inst Owners102.82%
Inst Owner Change0.04%
Ins Owners0.36%
Ins Owner Change-5%
Market Cap7.93B
Revenue(TTM)714.25M
Net Income(TTM)236.85M
Analysts77.04
Price Target63.18 (5.48%)
Short Float %2.61%
Short Ratio3.63
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3% |
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)3.77%
PT rev (3m)10.32%
EPS NQ rev (1m)0.4%
EPS NQ rev (3m)5.44%
EPS NY rev (1m)1.21%
EPS NY rev (3m)7.26%
Revenue NQ rev (1m)0.58%
Revenue NQ rev (3m)0.69%
Revenue NY rev (1m)0.42%
Revenue NY rev (3m)0.47%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.46 | ||
| Fwd PE | 32.55 | ||
| P/S | 11.11 | ||
| P/FCF | N/A | ||
| P/OCF | 19.07 | ||
| P/B | 2.99 | ||
| P/tB | 2.99 | ||
| EV/EBITDA | 20.98 |
EPS(TTM)1.79
EY2.99%
EPS(NY)1.84
Fwd EY3.07%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)3.14
OCFY5.24%
SpS5.39
BVpS20.02
TBVpS20.02
PEG (NY)N/A
PEG (5Y)11.13
Graham Number28.4
Profitability
| Industry Rank | Sector 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)6%
ROA(5y)5.93%
ROE(3y)12.03%
ROE(5y)11.74%
ROIC(3y)3.94%
ROIC(5y)3.81%
ROICexc(3y)4%
ROICexc(5y)3.89%
ROICexgc(3y)4.02%
ROICexgc(5y)3.91%
ROCE(3y)4.99%
ROCE(5y)4.82%
ROICexgc growth 3Y5.91%
ROICexgc growth 5Y2.55%
ROICexc growth 3Y5.96%
ROICexc growth 5Y2.65%
OM growth 3Y2.79%
OM growth 5Y1.77%
PM growth 3Y-8.94%
PM growth 5Y-5.16%
GM growth 3Y0.12%
GM growth 5Y0.02%
F-Score6
Asset Turnover0.13
Health
| Industry Rank | Sector 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 | 2.02 |
F-Score6
WACC7.59%
ROIC/WACC0.6
Cap/Depr(3y)369.66%
Cap/Depr(5y)388.68%
Cap/Sales(3y)92.27%
Cap/Sales(5y)102.06%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-23.18%
EPS 3Y1.58%
EPS 5Y3.01%
EPS Q2Q%-34.67%
EPS Next Y-20.86%
EPS Next 2Y-8.12%
EPS Next 3Y-3.1%
EPS Next 5Y0.96%
Revenue 1Y (TTM)9.66%
Revenue growth 3Y12.03%
Revenue growth 5Y9.47%
Sales Q2Q%8.22%
Revenue Next Year9.23%
Revenue Next 2Y8.32%
Revenue Next 3Y7.64%
Revenue Next 5Y8.69%
EBIT growth 1Y14.27%
EBIT growth 3Y15.15%
EBIT growth 5Y11.41%
EBIT Next Year94.52%
EBIT Next 3Y31.01%
EBIT Next 5Y24.97%
FCF growth 1Y77.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y36.26%
OCF growth 3Y9.71%
OCF growth 5Y7.5%
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 8 / 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 33.46 and the Price/Book (PB) ratio is 2.99.
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%.