INNOVATIVE INDUSTRIAL PROPER (IIPR) Fundamental Analysis & Valuation

NYSE:IIPR • US45781V1017

Current stock price

53.55 USD
+0.37 (+0.7%)
Last:

This IIPR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. IIPR Profitability Analysis

1.1 Basic Checks

  • IIPR had positive earnings in the past year.
  • In the past year IIPR had a positive cash flow from operations.
  • IIPR had positive earnings in each of the past 5 years.
  • In the past 5 years IIPR always reported a positive cash flow from operatings.
IIPR Yearly Net Income VS EBIT VS OCF VS FCFIIPR 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

1.2 Ratios

  • With an excellent Return On Assets value of 4.70%, IIPR belongs to the best of the industry, outperforming 90.98% of the companies in the same industry.
  • With a decent Return On Equity value of 6.03%, IIPR is doing good in the industry, outperforming 71.31% of the companies in the same industry.
  • IIPR's Return On Invested Capital of 4.56% is amongst the best of the industry. IIPR outperforms 87.70% of its industry peers.
  • IIPR had an Average Return On Invested Capital over the past 3 years of 5.59%. This is above the industry average of 3.12%.
Industry RankSector Rank
ROA 4.7%
ROE 6.03%
ROIC 4.56%
ROA(3y)6.04%
ROA(5y)5.96%
ROE(3y)7.5%
ROE(5y)7.44%
ROIC(3y)5.59%
ROIC(5y)5.61%
IIPR Yearly ROA, ROE, ROICIIPR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5

1.3 Margins

  • IIPR's Profit Margin of 41.90% is amongst the best of the industry. IIPR outperforms 92.62% of its industry peers.
  • IIPR's Profit Margin has declined in the last couple of years.
  • IIPR has a better Operating Margin (48.87%) than 90.98% of its industry peers.
  • IIPR's Operating Margin has declined in the last couple of years.
  • IIPR has a Gross Margin of 88.65%. This is amongst the best in the industry. IIPR outperforms 88.52% of its industry peers.
  • In the last couple of years the Gross Margin of IIPR has declined.
Industry RankSector Rank
OM 48.87%
PM (TTM) 41.9%
GM 88.65%
OM growth 3Y-6.64%
OM growth 5Y-3.9%
PM growth 3Y-8.7%
PM growth 5Y-5.18%
GM growth 3Y-2.67%
GM growth 5Y-1.52%
IIPR Yearly Profit, Operating, Gross MarginsIIPR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -500 -1K

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4

2. IIPR Health Analysis

2.1 Basic Checks

  • IIPR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, IIPR has less shares outstanding
  • The number of shares outstanding for IIPR has been increased compared to 5 years ago.
  • IIPR has a worse debt/assets ratio than last year.
IIPR Yearly Shares OutstandingIIPR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M 25M
IIPR Yearly Total Debt VS Total AssetsIIPR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.2 Solvency

  • Based on the Altman-Z score of 1.79, we must say that IIPR is in the distress zone and has some risk of bankruptcy.
  • IIPR has a Altman-Z score of 1.79. This is amongst the best in the industry. IIPR outperforms 91.80% of its industry peers.
  • The Debt to FCF ratio of IIPR is 2.36, which is a good value as it means it would take IIPR, 2.36 years of fcf income to pay off all of its debts.
  • IIPR's Debt to FCF ratio of 2.36 is amongst the best of the industry. IIPR outperforms 98.36% of its industry peers.
  • IIPR has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
  • IIPR's Debt to Equity ratio of 0.21 is amongst the best of the industry. IIPR outperforms 98.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.36
Altman-Z 1.79
ROIC/WACC0.57
WACC7.98%
IIPR Yearly LT Debt VS Equity VS FCFIIPR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

  • IIPR has a Current Ratio of 0.40. This is a bad value and indicates that IIPR is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of IIPR (0.40) is worse than 82.79% of its industry peers.
  • A Quick Ratio of 0.40 indicates that IIPR may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.40, IIPR is doing worse than 79.51% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.4
Quick Ratio 0.4
IIPR Yearly Current Assets VS Current LiabilitesIIPR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M

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

4

3. IIPR Growth Analysis

3.1 Past

  • The earnings per share for IIPR have decreased strongly by -25.05% in the last year.
  • The Earnings Per Share has been growing slightly by 4.80% on average over the past years.
  • IIPR shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -13.80%.
  • IIPR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.87% yearly.
EPS 1Y (TTM)-25.05%
EPS 3Y-9.66%
EPS 5Y4.8%
EPS Q2Q%-22.06%
Revenue 1Y (TTM)-13.8%
Revenue growth 3Y-1.28%
Revenue growth 5Y17.87%
Sales Q2Q%-13.14%

3.2 Future

  • Based on estimates for the next years, IIPR will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.56% on average per year.
  • IIPR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.38% yearly.
EPS Next Y7.76%
EPS Next 2Y9.56%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.98%
Revenue Next 2Y2.38%
Revenue Next 3YN/A
Revenue Next 5YN/A

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 decreasing: in the next years the growth will be less than in the last years.
IIPR Yearly Revenue VS EstimatesIIPR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
IIPR Yearly EPS VS EstimatesIIPR Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 4

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7

4. IIPR Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 13.16, which indicates a correct valuation of IIPR.
  • Compared to the rest of the industry, the Price/Earnings ratio of IIPR indicates a rather cheap valuation: IIPR is cheaper than 94.26% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.95. IIPR is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 12.21 indicates a correct valuation of IIPR.
  • 97.54% of the companies in the same industry are more expensive than IIPR, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.68, IIPR is valued rather cheaply.
Industry RankSector Rank
PE 13.16
Fwd PE 12.21
IIPR Price Earnings VS Forward Price EarningsIIPR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 90.16% of the companies in the same industry are more expensive than IIPR, based on the Enterprise Value to EBITDA ratio.
  • 94.26% of the companies in the same industry are more expensive than IIPR, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 9.03
EV/EBITDA 9.03
IIPR Per share dataIIPR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • IIPR's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • IIPR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.69
PEG (5Y)2.74
EPS Next 2Y9.56%
EPS Next 3YN/A

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

7

5. IIPR Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 14.62%, IIPR is a good candidate for dividend investing.
  • IIPR's Dividend Yield is rather good when compared to the industry average which is at 7.46. IIPR pays more dividend than 98.36% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, IIPR pays a better dividend.
Industry RankSector Rank
Dividend Yield 14.62%

5.2 History

  • On average, the dividend of IIPR grows each year by 13.11%, which is quite nice.
  • IIPR has been paying a dividend for at least 10 years, so it has a reliable track record.
  • IIPR has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)13.11%
Div Incr Years8
Div Non Decr Years8
IIPR Yearly Dividends per shareIIPR Yearly Dividends per shareYearly Dividends per share 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 196.97% of the earnings are spent on dividend by IIPR. This is not a sustainable payout ratio.
  • The dividend of IIPR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP196.97%
EPS Next 2Y9.56%
EPS Next 3YN/A
IIPR Yearly Income VS Free CF VS DividendIIPR 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
IIPR Dividend Payout.IIPR Dividend Payout, showing the Payout Ratio.IIPR Dividend Payout.PayoutRetained Earnings

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IIPR Fundamentals: All Metrics, Ratios and Statistics

INNOVATIVE INDUSTRIAL PROPER

NYSE:IIPR (4/21/2026, 12:38:39 PM)

53.55

+0.37 (+0.7%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-23
Earnings (Next)05-13
Inst Owners71.59%
Inst Owner Change-0.22%
Ins Owners1.79%
Ins Owner Change13.78%
Market Cap1.51B
Revenue(TTM)265.95M
Net Income(TTM)111.45M
Analysts50.91
Price Target59.93 (11.91%)
Short Float %12.25%
Short Ratio10.95
Dividend
Industry RankSector Rank
Dividend Yield 14.62%
Yearly Dividend7.79
Dividend Growth(5Y)13.11%
DP196.97%
Div Incr Years8
Div Non Decr Years8
Ex-Date03-31
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.17%
Min EPS beat(2)2.89%
Max EPS beat(2)7.46%
EPS beat(4)2
Avg EPS beat(4)-3.57%
Min EPS beat(4)-22.17%
Max EPS beat(4)7.46%
EPS beat(8)3
Avg EPS beat(8)-3.68%
EPS beat(12)7
Avg EPS beat(12)-1.66%
EPS beat(16)9
Avg EPS beat(16)-0.74%
Revenue beat(2)0
Avg Revenue beat(2)-1.33%
Min Revenue beat(2)-1.76%
Max Revenue beat(2)-0.91%
Revenue beat(4)0
Avg Revenue beat(4)-1.91%
Min Revenue beat(4)-3.46%
Max Revenue beat(4)-0.91%
Revenue beat(8)1
Avg Revenue beat(8)-2.2%
Revenue beat(12)4
Avg Revenue beat(12)-0.81%
Revenue beat(16)8
Avg Revenue beat(16)-0.54%
PT rev (1m)2.62%
PT rev (3m)2.62%
EPS NQ rev (1m)-0.31%
EPS NQ rev (3m)7.33%
EPS NY rev (1m)-1.26%
EPS NY rev (3m)4.75%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.56%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.71%
Valuation
Industry RankSector Rank
PE 13.16
Fwd PE 12.21
P/S 5.67
P/FCF 9.03
P/OCF 7.6
P/B 0.82
P/tB 0.82
EV/EBITDA 9.03
EPS(TTM)4.07
EY7.6%
EPS(NY)4.39
Fwd EY8.19%
FCF(TTM)5.93
FCFY11.08%
OCF(TTM)7.04
OCFY13.15%
SpS9.45
BVpS65.67
TBVpS65.42
PEG (NY)1.69
PEG (5Y)2.74
Graham Number77.5493 (44.82%)
Profitability
Industry RankSector Rank
ROA 4.7%
ROE 6.03%
ROCE 5.77%
ROIC 4.56%
ROICexc 4.66%
ROICexgc 4.73%
OM 48.87%
PM (TTM) 41.9%
GM 88.65%
FCFM 62.76%
ROA(3y)6.04%
ROA(5y)5.96%
ROE(3y)7.5%
ROE(5y)7.44%
ROIC(3y)5.59%
ROIC(5y)5.61%
ROICexc(3y)5.89%
ROICexc(5y)5.89%
ROICexgc(3y)5.96%
ROICexgc(5y)5.95%
ROCE(3y)7.07%
ROCE(5y)7.11%
ROICexgc growth 3Y-7.87%
ROICexgc growth 5Y5.68%
ROICexc growth 3Y-8.21%
ROICexc growth 5Y5.38%
OM growth 3Y-6.64%
OM growth 5Y-3.9%
PM growth 3Y-8.7%
PM growth 5Y-5.18%
GM growth 3Y-2.67%
GM growth 5Y-1.52%
F-Score3
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.36
Debt/EBITDA 1.93
Cap/Depr 42.24%
Cap/Sales 11.76%
Interest Coverage 7.47
Cash Conversion 97.13%
Profit Quality 149.76%
Current Ratio 0.4
Quick Ratio 0.4
Altman-Z 1.79
F-Score3
WACC7.98%
ROIC/WACC0.57
Cap/Depr(3y)144.34%
Cap/Depr(5y)574.36%
Cap/Sales(3y)32.68%
Cap/Sales(5y)122.24%
Profit Quality(3y)101.74%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-25.05%
EPS 3Y-9.66%
EPS 5Y4.8%
EPS Q2Q%-22.06%
EPS Next Y7.76%
EPS Next 2Y9.56%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-13.8%
Revenue growth 3Y-1.28%
Revenue growth 5Y17.87%
Sales Q2Q%-13.14%
Revenue Next Year0.98%
Revenue Next 2Y2.38%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-24.68%
EBIT growth 3Y-7.83%
EBIT growth 5Y13.27%
EBIT Next Year62.34%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-5.54%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-23.32%
OCF growth 3Y-5.4%
OCF growth 5Y12.33%

INNOVATIVE INDUSTRIAL PROPER / IIPR Fundamental Analysis FAQ

What is the ChartMill fundamental rating of INNOVATIVE INDUSTRIAL PROPER (IIPR) stock?

ChartMill assigns a fundamental rating of 6 / 10 to IIPR.


What is the valuation status for IIPR stock?

ChartMill assigns a valuation rating of 7 / 10 to INNOVATIVE INDUSTRIAL PROPER (IIPR). This can be considered as Undervalued.


How profitable is INNOVATIVE INDUSTRIAL PROPER (IIPR) stock?

INNOVATIVE INDUSTRIAL PROPER (IIPR) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for IIPR stock?

The Price/Earnings (PE) ratio for INNOVATIVE INDUSTRIAL PROPER (IIPR) is 13.16 and the Price/Book (PB) ratio is 0.82.


What is the expected EPS growth for INNOVATIVE INDUSTRIAL PROPER (IIPR) stock?

The Earnings per Share (EPS) of INNOVATIVE INDUSTRIAL PROPER (IIPR) is expected to grow by 7.76% in the next year.