First Industrial Realty Trust (FR) Financials

$48.86 -0.16 (-0.33%)

Closing price 03:59 PM Eastern

Extended Trading

$48.86 0.00 (0.00%)

As of 04:31 PM Eastern

Annual Income Statements for First Industrial Realty Trust

This table shows First Industrial Realty Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	74	121	201	163	239	196	542	718	549	575
Consolidated Net Income / (Loss)	77	126	208	167	244	200	277	382	286	296
Net Income / (Loss) Continuing Operations	77	126	-146	167	244	200	277	382	286	296
Total Pre-Tax Income	77	127	209	168	231	198	282	290	262	298
Total Operating Income	110	121	-144	140	156	166	176	211	241	269
Total Gross Profit	366	378	0.00	404	426	448	345	540	614	670
Total Revenue	366	378	0.00	404	426	448	476	540	614	670
Operating Revenue	366	378	-	404	426	448	476	540	614	670
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	131	0.00	0.00	0.00
Total Operating Expenses	256	257	144	264	270	282	169	329	373	401
Selling, General & Admin Expense	25	27	-	28	29	33	35	34	37	41
Depreciation Expense	114	117	116	116	121	130	131	147	163	172
Amortization Expense	-	-	-	-	3.22	-	3.42	3.19	3.63	3.65
Other Operating Expenses / (Income)	115	112	28	117	117	119	0.00	145	169	184
Total Other Income / (Expense), net	-33	5.55	0.00	27	75	32	103	79	21	29
Interest Expense	67	59	-	51	50	51	44	49	74	83
Other Income / (Expense), net	34	65	-	78	125	83	150	128	96	112
Income Tax Expense	0.12	1.09	1.19	-0.09	3.41	2.41	4.88	23	8.69	6.08
Other Gains / (Losses), net	0.06	0.00	0.00	-0.28	16	4.20	-0.16	115	32	4.30
Net Income / (Loss) Attributable to Noncontrolling Interest	2.90	4.45	6.85	4.10	5.11	4.18	6.47	22	11	8.43
Basic Earnings per Share	$0.67	$1.05	$1.70	$1.31	$1.89	$1.53	$2.09	$2.72	$2.08	$2.17
Weighted Average Basic Shares Outstanding	110.35M	115.03M	118.27M	123.80M	126.39M	127.71M	129.69M	132.02M	132.26M	132.37M
Diluted Earnings per Share	$0.66	$1.05	$1.69	$1.31	$1.88	$1.53	$2.09	$2.72	$2.07	$2.17
Weighted Average Diluted Shares Outstanding	110.78M	115.37M	118.27M	124.19M	126.69M	127.90M	129.78M	132.10M	132.34M	132.42M
Weighted Average Basic & Diluted Shares Outstanding	111.24M	117.27M	118.27M	126.59M	127.04M	258.25M	263.56M	264.42M	529.36M	132.39M
Cash Dividends to Common per Share	$0.51	$0.76	$0.84	$0.87	$0.92	$1.00	$1.08	$1.18	$1.28	$1.48

This table shows First Industrial Realty Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	112	109	150	178	137	103	199	137	96
Consolidated Net Income / (Loss)	61	56	77	92	70	53	102	70	53
Net Income / (Loss) Continuing Operations	61	56	77	92	70	53	102	70	53
Total Pre-Tax Income	40	55	76	91	70	52	105	70	55
Total Operating Income	56	60	61	63	60	67	69	72	69
Total Gross Profit	107	152	155	199	115	164	168	223	177
Total Revenue	149	152	155	157	162	164	168	176	177
Operating Revenue	149	152	155	157	162	164	168	176	177
Total Cost of Revenue	42	0.00	0.00	-42	47	0.00	0.00	-47	0.00
Total Operating Expenses	51	92	94	136	55	97	99	150	108
Selling, General & Admin Expense	9.35	9.52	8.46	9.79	12	9.62	9.23	10	16
Depreciation Expense	40	41	41	41	42	43	44	44	44
Other Operating Expenses / (Income)	0.78	41	43	84	0.43	43	45	95	49
Total Other Income / (Expense), net	-16	-4.85	14	28	9.96	-15	36	-1.95	-14
Interest Expense	16	18	20	20	21	21	21	20	19
Other Income / (Expense), net	0.00	13	34	48	31	6.14	57	18	5.88
Income Tax Expense	7.17	0.46	0.33	0.73	1.18	0.43	3.30	1.17	5.90
Other Gains / (Losses), net	28	1.43	1.53	1.61	1.40	1.16	0.60	1.13	3.48
Net Income / (Loss) Attributable to Noncontrolling Interest	4.86	1.60	2.13	2.44	2.09	1.56	2.81	1.98	4.78
Basic Earnings per Share	$0.42	$0.41	$0.57	$0.68	$0.52	$0.39	$0.75	$0.51	$0.36
Weighted Average Basic Shares Outstanding	132.21M	132.25M	132.26M	132.26M	132.36M	132.37M	132.37M	132.37M	132.42M
Diluted Earnings per Share	$0.42	$0.41	$0.57	$0.67	$0.52	$0.39	$0.75	$0.51	$0.36
Weighted Average Diluted Shares Outstanding	132.30M	132.34M	132.34M	132.34M	132.41M	132.40M	132.42M	132.42M	132.49M
Weighted Average Basic & Diluted Shares Outstanding	264.49M	-	-	529.36M	264.68M	264.69M	132.35M	132.39M	132.40M
Cash Dividends to Common per Share	$0.32	$0.32	$0.32	-	$0.37	$0.37	$0.37	-	$0.45

This table details how cash moves in and out of First Industrial Realty Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-5.50	-5.53	25	3.89	91	46	-141	86	-101	7.84
Net Cash From Operating Activities	162	174	193	210	246	240	267	411	305	352
Net Cash From Continuing Operating Activities	253	174	193	210	235	240	267	411	305	352
Net Income / (Loss) Continuing Operations	77	126	208	167	244	200	277	382	286	296
Consolidated Net Income / (Loss)	77	126	208	167	244	200	277	382	286	296
Depreciation Expense	121	124	123	122	127	138	139	152	165	176
Amortization Expense	3.16	3.22	3.16	3.40	3.22	3.43	3.42	3.19	3.63	3.65
Non-Cash Adjustments To Reconcile Net Income	-42	-74	-136	-81	-150	-102	-166	-153	-142	-134
Changes in Operating Assets and Liabilities, net	2.93	-4.69	-6.29	-1.11	11	1.19	13	26	-6.78	11
Net Cash From Investing Activities	-197	-122	-82	-223	-205	-252	-417	-629	-378	-132
Net Cash From Continuing Investing Activities	-197	-122	-82	-223	-205	-252	-417	-629	-378	-132
Purchase of Property, Plant & Equipment	-318	-107	-175	-382	-447	-419	-353	-305	-131	-74
Acquisitions	-	0.00	0.00	-25	-23	-58	-1.55	-5.62	-12	-5.73
Sale of Property, Plant & Equipment	154	163	228	185	254	204	235	175	120	159
Sale and/or Maturity of Investments	-	0.00	0.00	1.83	8.71	20	21	29	0.00	0.00
Other Investing Activities, net	-21	-178	-135	-2.57	2.19	0.87	-318	-523	-355	-211
Net Cash From Financing Activities	29	-57	-85	17	62	58	9.05	305	-28	-213
Net Cash From Continuing Financing Activities	29	-57	-85	17	62	58	9.02	305	-28	-213
Repayment of Debt	-489	-536	-679	-547	-380	-435	-274	-725	-218	-338
Repurchase of Common Equity	-5.16	-0.38	-6.86	-2.98	-0.95	-3.36	-6.45	-5.27	-0.06	0.00
Payment of Dividends	-56	-83	-100	-110	-117	-128	-140	-160	-181	-194
Issuance of Debt	582	442	629	537	565	547	289	1,185	374	321
Issuance of Common Equity	0.07	125	75	146	0.03	83	146	13	0.03	0.04
Other Financing Activities, net	-2.10	-5.24	-2.40	-6.02	-4.38	-5.94	-5.13	-2.94	-2.51	-2.07
Cash Interest Paid	69	64	57	47	54	49	44	46	73	83
Cash Income Taxes Paid	0.02	1.36	0.77	0.46	3.58	1.57	3.37	3.76	28	5.30

This table details how cash moves in and out of First Industrial Realty Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-73	-3.60	-14	-10	5.04	-2.34	8.64	-3.51	-14
Net Cash From Operating Activities	70	86	84	64	62	108	105	77	89
Net Cash From Continuing Operating Activities	70	86	84	64	62	108	105	77	89
Net Income / (Loss) Continuing Operations	61	56	77	92	70	53	102	70	53
Consolidated Net Income / (Loss)	61	56	77	92	70	53	102	70	53
Depreciation Expense	39	41	42	43	47	44	40	45	54
Amortization Expense	0.90	0.91	0.91	0.91	0.91	0.91	0.91	0.91	0.96
Non-Cash Adjustments To Reconcile Net Income	-28	-19	-40	-55	-36	-12	-60	-27	-16
Changes in Operating Assets and Liabilities, net	-2.59	6.84	4.72	-16	-20	21	22	-12	-2.79
Net Cash From Investing Activities	-104	-147	-72	-55	-19	-53	4.37	-64	-213
Net Cash From Continuing Investing Activities	-104	-147	-72	-55	-19	-53	4.37	-64	-213
Purchase of Property, Plant & Equipment	-100	-162	-112	243	-68	-59	-76	130	-222
Acquisitions	-2.97	-3.00	-4.09	-2.29	-2.61	-0.66	-0.67	-1.79	-2.49
Sale of Property, Plant & Equipment	0.00	16	42	62	48	7.58	80	23	11
Sale and/or Maturity of Investments	0.00	-	-	-	0.00	-	-	-	0.00
Other Investing Activities, net	-1.26	1.51	2.53	-358	4.17	-0.85	0.99	-215	-0.34
Net Cash From Financing Activities	-40	58	-26	-19	-38	-57	-101	-16	111
Net Cash From Continuing Financing Activities	-40	58	-26	-19	-38	-57	-101	-16	110
Repayment of Debt	-66	-15	-65	-72	-95	-74	-118	-51	-89
Repurchase of Common Equity	-	-	-0.00	-0.05	-	-	-	-	-10
Payment of Dividends	-51	-43	-43	-43	-43	-50	-50	-50	-50
Issuance of Debt	80	116	82	96	102	67	67	85	261
Issuance of Common Equity	0.00	0.00	0.02	0.00	0.01	0.01	0.02	0.01	0.01
Other Financing Activities, net	-2.46	-0.05	-	-	-2.03	-0.01	-0.03	-	-1.32
Cash Interest Paid	3.98	3.84	3.19	62	2.64	2.14	1.55	77	2.88

This table presents First Industrial Realty Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,710	2,793	2,941	3,143	3,519	3,792	4,179	4,954	10,361	10,532
Total Current Assets	80	89	135	144	344	340	220	376	526	534
Cash & Equivalents	3.99	9.86	21	43	21	162	59	133	88	89
Restricted Cash	-	-	25	-	132	38	0.19	12	0.00	14
Accounts Receivable	-	-	4.87	-	8.53	5.71	5.10	7.14	22	15
Prepaid Expenses	76	79	83	101	183	135	156	224	416	416
Plant, Property, & Equipment, net	2,466	2,521	2,596	2,802	2,935	3,178	3,539	4,168	8,919	9,213
Plant, Property & Equipment, gross	3,258	3,318	3,386	3,614	3,740	4,010	4,407	5,089	10,937	11,385
Accumulated Depreciation	791	796	790	812	805	832	868	921	2,019	2,171
Total Noncurrent Assets	163	183	210	196	240	274	420	410	10,326	10,306
Long-Term Investments	-	-	0.00	23	18	46	36	8.82	89	102
Other Noncurrent Operating Assets	130	153	180	143	193	203	363	401	10,237	10,204
Total Liabilities & Shareholders' Equity	2,710	2,793	2,941	3,143	3,519	3,792	4,179	4,954	10,361	10,532
Total Liabilities	1,595	1,509	1,465	1,463	1,721	1,845	1,931	2,424	5,081	5,031
Total Current Liabilities	134	151	158	155	203	216	289	335	589	577
Accounts Payable	94	84	87	79	115	120	153	194	287	265
Customer Deposits	40	43	44	48	58	62	99	100	213	209
Dividends Payable	-	23	27	29	31	34	37	41	88	102
Total Noncurrent Liabilities	1,461	1,357	1,307	1,307	1,518	1,629	1,642	2,089	4,493	4,454
Long-Term Debt	1,434	1,347	1,297	1,298	1,484	1,595	1,610	2,066	4,449	4,419
Other Noncurrent Operating Liabilities	27	10	10	9.56	34	34	32	22	44	35
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,115	1,285	1,476	1,680	1,798	1,947	2,248	2,530	5,279	5,501
Total Preferred & Common Equity	1,073	1,241	1,428	1,646	1,764	1,903	2,195	2,459	2,563	2,666
Total Common Equity	1,073	1,241	1,428	1,646	1,764	1,903	2,195	2,436	2,637	2,747
Common Stock	1,758	1,888	1,968	2,133	2,142	2,226	2,377	2,403	5,027	5,153
Retained Earnings	-	-	-	-	-	-	-	-	128	219
Accumulated Other Comprehensive Income / (Loss)	-9.67	-4.64	1.34	3.50	-6.88	-17	-4.24	33	45	40
Noncontrolling Interest	42	43	48	34	34	45	54	71	80	88

This table presents First Industrial Realty Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	3/31/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	4,951	10,410	10,421	10,410	10,905
Total Current Assets	309	585	563	543	538
Cash & Equivalents	66	98	77	94	71
Restricted Cash	5.86	0.00	16	16	3.34
Accounts Receivable	9.19	25	11	11	18
Prepaid Expenses	228	463	458	422	445
Plant, Property, & Equipment, net	4,190	8,951	9,158	9,174	9,427
Plant, Property & Equipment, gross	5,136	11,002	11,227	11,298	11,660
Accumulated Depreciation	947	2,051	2,068	2,125	2,233
Total Noncurrent Assets	452	10,260	10,063	10,104	10,765
Long-Term Investments	34	95	97	98	164
Other Noncurrent Operating Assets	418	10,165	9,966	10,006	10,601
Total Liabilities & Shareholders' Equity	4,951	10,410	10,421	10,410	10,905
Total Liabilities	2,423	5,054	5,054	4,977	5,410
Total Current Liabilities	320	547	567	593	614
Accounts Payable	174	232	249	286	287
Customer Deposits	102	213	207	205	204
Dividends Payable	44	101	101	102	123
Total Noncurrent Liabilities	2,103	4,507	4,486	4,385	4,796
Long-Term Debt	2,081	4,464	4,451	4,350	4,761
Other Noncurrent Operating Liabilities	22	44	36	35	35
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,528	5,356	5,368	5,433	5,496
Total Preferred & Common Equity	2,458	2,595	2,601	2,632	2,651
Total Common Equity	2,422	2,675	2,681	2,713	2,741
Common Stock	2,402	5,057	5,068	5,126	5,159
Retained Earnings	-	147	149	200	208
Accumulated Other Comprehensive Income / (Loss)	21	66	64	20	25
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	70	86	86	87	103

This table displays calculated financial ratios and metrics derived from First Industrial Realty Trust's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.51%	3.33%	-100.00%	0.00%	5.45%	5.17%	6.31%	13.36%	13.72%	9.06%
EBITDA Growth	22.38%	16.63%	-105.73%	2,012.64%	19.90%	-5.05%	19.94%	5.50%	2.07%	11.07%
EBIT Growth	55.46%	29.14%	-177.57%	251.15%	28.85%	-11.25%	30.70%	3.90%	-0.70%	13.09%
NOPAT Growth	15.86%	9.43%	-184.13%	238.67%	9.89%	6.65%	5.25%	12.05%	20.24%	12.99%
Net Income Growth	50.39%	63.85%	0.00%	0.00%	45.75%	-17.92%	38.47%	37.68%	-25.10%	3.55%
EPS Growth	57.14%	59.09%	0.00%	0.00%	43.51%	-18.62%	36.60%	30.14%	-23.90%	4.83%
Operating Cash Flow Growth	18.21%	7.24%	10.74%	9.31%	16.65%	-2.08%	11.01%	53.97%	-25.83%	15.64%
Free Cash Flow Firm Growth	-93.21%	167.32%	-1,135.63%	77.78%	-1.70%	48.16%	-1,113.56%	-64.51%	-2,828.62%	99.82%
Invested Capital Growth	4.19%	3.93%	4.09%	6.78%	6.85%	6.01%	14.13%	17.97%	324.83%	1.52%
Revenue Q/Q Growth	0.21%	1.28%	-100.00%	528.62%	-17.95%	0.34%	1.98%	0.00%	0.00%	2.81%
EBITDA Q/Q Growth	15.81%	-7.12%	-105.63%	480.86%	15.95%	-3.23%	7.55%	0.00%	0.00%	-3.18%
EBIT Q/Q Growth	33.41%	-11.12%	-174.77%	202.02%	24.60%	-5.60%	11.11%	0.00%	0.00%	-5.14%
NOPAT Q/Q Growth	0.59%	3.62%	-176.12%	193.59%	-2.51%	0.16%	1.39%	0.00%	0.00%	3.35%
Net Income Q/Q Growth	50.29%	-14.08%	0.00%	0.00%	0.00%	-6.24%	12.82%	0.00%	0.00%	-6.70%
EPS Q/Q Growth	46.67%	-13.93%	0.00%	0.00%	0.00%	-6.71%	12.37%	0.00%	0.00%	-6.87%
Operating Cash Flow Q/Q Growth	0.09%	3.09%	-1.18%	7.72%	-1.64%	-2.06%	8.17%	0.00%	0.00%	3.65%
Free Cash Flow Firm Q/Q Growth	100.29%	-99.23%	-377.00%	-101.93%	98.28%	-95.53%	-82.04%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-50.23%	1.62%	-0.95%	1,260.41%	0.70%	1.04%	4.70%	0.00%	0.00%	1.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	0.00%	100.00%	100.00%	100.00%	72.43%	100.00%	100.00%	100.00%
EBITDA Margin	73.44%	82.89%	0.00%	84.99%	96.64%	87.24%	98.43%	91.60%	82.21%	83.73%
Operating Margin	30.07%	32.07%	0.00%	34.69%	36.71%	37.13%	36.95%	39.04%	39.25%	40.14%
EBIT Margin	39.42%	49.26%	0.00%	54.05%	66.04%	55.73%	68.51%	62.79%	54.83%	56.86%
Profit (Net Income) Margin	20.97%	33.25%	0.00%	41.42%	57.25%	44.68%	58.19%	70.68%	46.55%	44.20%
Tax Burden Percent	99.92%	99.14%	0.00%	99.89%	105.55%	100.90%	98.21%	131.58%	108.96%	99.40%
Interest Burden Percent	53.24%	68.08%	0.00%	76.73%	82.13%	79.46%	86.48%	85.54%	77.92%	78.21%
Effective Tax Rate	0.15%	0.86%	0.00%	-0.05%	1.47%	1.21%	1.73%	8.06%	3.31%	2.04%
Return on Invested Capital (ROIC)	4.40%	4.63%	0.00%	4.93%	5.07%	5.08%	4.85%	4.68%	1.98%	1.37%
ROIC Less NNEP Spread (ROIC-NNEP)	2.02%	5.03%	0.00%	7.06%	11.97%	7.71%	11.95%	15.39%	2.65%	1.61%
Return on Net Nonoperating Assets (RNNOA)	2.55%	5.84%	0.00%	5.68%	8.96%	5.61%	8.36%	11.29%	5.34%	4.12%
Return on Equity (ROE)	6.95%	10.47%	0.00%	10.60%	14.02%	10.69%	13.21%	15.97%	7.32%	5.49%
Cash Return on Invested Capital (CROIC)	0.30%	0.78%	-7.75%	-1.63%	-1.55%	-0.76%	-8.34%	-11.81%	-121.80%	-0.13%
Operating Return on Assets (OROA)	5.45%	6.77%	0.00%	7.18%	8.45%	6.83%	8.19%	7.42%	4.40%	3.64%
Return on Assets (ROA)	2.90%	4.57%	0.00%	5.50%	7.32%	5.48%	6.95%	8.36%	3.73%	2.83%
Return on Common Equity (ROCE)	6.85%	10.10%	0.00%	10.33%	13.75%	10.46%	12.90%	15.48%	4.75%	2.74%
Return on Equity Simple (ROE_SIMPLE)	7.15%	10.12%	14.59%	10.17%	13.82%	10.52%	12.63%	15.52%	11.15%	11.10%
Net Operating Profit after Tax (NOPAT)	110	120	-101	140	154	164	173	194	233	263
NOPAT Margin	30.02%	31.79%	0.00%	34.71%	36.17%	36.68%	36.31%	35.89%	37.95%	39.32%
Net Nonoperating Expense Percent (NNEP)	2.38%	-0.39%	-7.67%	-2.14%	-6.90%	-2.63%	-7.10%	-10.71%	-0.67%	-0.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.22%	2.40%	2.65%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.57%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.93%	7.06%	0.00%	6.87%	6.71%	7.33%	7.27%	6.29%	6.05%	6.11%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	69.93%	67.93%	0.00%	65.31%	63.29%	62.87%	35.48%	60.96%	60.75%	59.86%
Earnings before Interest and Taxes (EBIT)	144	186	-144	218	281	250	326	339	337	381
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	269	313	-18	343	412	391	469	495	505	561
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.83	2.18	2.24	1.94	2.67	2.63	3.69	2.47	2.57	2.41
Price to Tangible Book Value (P/TBV)	1.89	2.23	2.29	1.97	2.72	2.66	3.72	2.47	2.57	2.41
Price to Revenue (P/Rev)	5.37	7.15	0.00	7.89	11.08	11.16	16.99	11.16	11.02	9.91
Price to Earnings (P/E)	26.60	22.31	0.00	19.51	19.76	25.51	14.94	8.39	12.31	11.54
Dividend Yield	2.88%	3.29%	3.14%	3.45%	2.48%	2.58%	1.74%	2.58%	2.50%	2.95%
Earnings Yield	3.76%	4.48%	0.00%	5.12%	5.06%	3.92%	6.69%	11.92%	8.12%	8.67%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.54	1.63	1.51	1.93	1.92	2.54	1.79	0.58	0.57
Enterprise Value to Revenue (EV/Rev)	9.39	10.81	0.00	11.02	14.24	14.27	20.28	14.83	18.10	16.33
Enterprise Value to EBITDA (EV/EBITDA)	12.79	13.04	0.00	12.96	14.73	16.36	20.61	16.19	22.02	19.50
Enterprise Value to EBIT (EV/EBIT)	23.82	21.94	0.00	20.39	21.56	25.61	29.61	23.62	33.02	28.72
Enterprise Value to NOPAT (EV/NOPAT)	31.28	33.99	0.00	31.74	39.36	38.91	55.86	41.32	47.70	41.54
Enterprise Value to Operating Cash Flow (EV/OCF)	21.19	23.49	23.37	21.15	24.70	26.59	36.20	19.49	36.47	31.02
Enterprise Value to Free Cash Flow (EV/FCFF)	454.55	202.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.05	0.88	0.77	0.83	0.82	0.72	0.82	0.84	0.80
Long-Term Debt to Equity	1.29	1.05	0.88	0.77	0.83	0.82	0.72	0.82	0.84	0.80
Financial Leverage	1.26	1.16	0.96	0.80	0.75	0.73	0.70	0.73	2.01	2.56
Leverage Ratio	2.40	2.29	2.08	1.93	1.92	1.95	1.90	1.91	1.96	1.94
Compound Leverage Factor	1.28	1.56	0.00	1.48	1.57	1.55	1.64	1.64	1.53	1.52
Debt to Total Capital	56.26%	51.19%	46.77%	43.58%	45.21%	45.02%	41.73%	44.95%	45.73%	44.54%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	56.26%	51.19%	46.77%	43.58%	45.21%	45.02%	41.73%	44.95%	45.73%	44.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.65%	1.64%	1.73%	1.16%	1.03%	1.26%	1.39%	1.55%	0.82%	0.89%
Common Equity to Total Capital	42.09%	47.17%	51.49%	55.26%	53.76%	53.72%	56.88%	53.00%	27.11%	27.70%
Debt to EBITDA	5.34	4.30	-72.25	3.78	3.60	4.08	3.43	4.18	8.81	7.88
Net Debt to EBITDA	5.32	4.27	-69.66	3.59	3.19	3.45	3.23	3.87	8.46	7.51
Long-Term Debt to EBITDA	5.34	4.30	-72.25	3.78	3.60	4.08	3.43	4.18	8.81	7.88
Debt to NOPAT	13.06	11.21	-12.83	9.26	9.63	9.70	9.31	10.66	19.09	16.78
Net Debt to NOPAT	13.02	11.13	-12.37	8.78	8.52	8.21	8.76	9.87	18.33	16.00
Long-Term Debt to NOPAT	13.06	11.21	-12.83	9.26	9.63	9.70	9.31	10.66	19.09	16.78
Altman Z-Score	1.03	1.40	1.14	1.66	2.08	2.00	2.87	1.84	0.98	1.00
Noncontrolling Interest Sharing Ratio	1.47%	3.55%	3.31%	2.61%	1.96%	2.09%	2.34%	3.09%	35.04%	50.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.60	0.59	0.85	0.93	1.70	1.58	0.76	1.12	0.89	0.92
Quick Ratio	0.03	0.07	0.16	0.28	0.15	0.78	0.22	0.42	0.19	0.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.56	20	-209	-46	-47	-25	-297	-489	-14,332	-26
Operating Cash Flow to CapEx	98.76%	0.00%	0.00%	106.60%	127.24%	111.90%	225.81%	316.31%	2,863.19%	0.00%
Free Cash Flow to Firm to Interest Expense	0.11	0.34	0.00	-0.91	-0.94	-0.48	-6.74	-9.98	-192.80	-0.31
Operating Cash Flow to Interest Expense	2.40	2.93	0.00	4.14	4.88	4.69	6.05	8.38	4.10	4.25
Operating Cash Flow Less CapEx to Interest Expense	-0.03	3.87	0.00	0.26	1.05	0.50	3.37	5.73	3.96	5.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.14	0.00	0.13	0.13	0.12	0.12	0.12	0.08	0.06
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	62.91	88.06	88.23	42.17	36.58
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.15	0.15	0.00	0.15	0.15	0.15	0.14	0.14	0.09	0.07
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.96	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	5.80	4.15	4.14	8.66	9.98
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	379.99	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	5.80	-375.85	4.14	8.66	9.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,545	2,645	2,753	2,940	3,141	3,330	3,801	4,484	19,049	19,338
Invested Capital Turnover	0.15	0.15	0.00	0.14	0.14	0.14	0.13	0.13	0.05	0.03
Increase / (Decrease) in Invested Capital	102	100	108	187	201	189	470	683	14,565	289
Enterprise Value (EV)	3,435	4,085	4,500	4,451	6,065	6,393	9,661	8,007	11,116	10,936
Market Capitalization	1,963	2,704	3,202	3,185	4,718	4,999	8,093	6,024	6,765	6,635
Book Value per Share	$9.69	$10.62	$11.91	$13.03	$13.90	$14.74	$16.85	$18.49	$19.94	$20.76
Tangible Book Value per Share	$9.39	$10.37	$11.66	$12.79	$13.67	$14.55	$16.68	$18.49	$19.94	$20.76
Total Capital	2,549	2,632	2,773	2,978	3,282	3,542	3,858	4,597	9,728	9,920
Total Debt	1,434	1,347	1,297	1,298	1,484	1,595	1,610	2,066	4,449	4,419
Total Long-Term Debt	1,434	1,347	1,297	1,298	1,484	1,595	1,610	2,066	4,449	4,419
Net Debt	1,430	1,337	1,251	1,231	1,313	1,349	1,515	1,912	4,272	4,213
Capital Expenditures (CapEx)	164	-56	-53	197	193	215	118	130	11	-85
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-57	-72	-70	-54	-11	-75	-128	-104	-151	-147
Debt-free Net Working Capital (DFNWC)	-53	-62	-23	-11	141	124	-69	41	-63	-43
Net Working Capital (NWC)	-53	-62	-23	-11	141	124	-69	41	-63	-43
Net Nonoperating Expense (NNE)	33	-5.51	-101	-27	-90	-36	-104	-188	-53	-33
Net Nonoperating Obligations (NNO)	1,430	1,361	1,278	1,260	1,343	1,383	1,552	1,954	13,769	13,837
Total Depreciation and Amortization (D&A)	124	127	126	125	130	141	142	156	168	180
Debt-free, Cash-free Net Working Capital to Revenue	-15.71%	-18.98%	0.00%	-13.43%	-2.67%	-16.83%	-26.81%	-19.29%	-24.58%	-21.91%
Debt-free Net Working Capital to Revenue	-14.62%	-16.37%	0.00%	-2.76%	33.18%	27.74%	-14.47%	7.59%	-10.30%	-6.48%
Net Working Capital to Revenue	-14.62%	-16.37%	0.00%	-2.76%	33.18%	27.74%	-14.47%	7.59%	-10.30%	-6.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.67	$1.05	$1.70	$1.31	$1.89	$1.53	$2.09	$2.72	$2.08	$2.17
Adjusted Weighted Average Basic Shares Outstanding	110.35M	115.03M	118.27M	123.80M	126.39M	127.71M	129.69M	132.02M	132.26M	132.37M
Adjusted Diluted Earnings per Share	$0.66	$1.05	$1.69	$1.31	$1.88	$1.53	$2.09	$2.72	$2.07	$2.17
Adjusted Weighted Average Diluted Shares Outstanding	110.78M	115.37M	118.79M	124.19M	126.69M	127.90M	129.78M	132.10M	132.34M	132.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	111.24M	117.27M	120.17M	126.59M	127.04M	258.25M	263.56M	264.42M	529.36M	132.39M
Normalized Net Operating Profit after Tax (NOPAT)	112	121	-101	100	154	164	173	194	233	263
Normalized NOPAT Margin	30.57%	31.92%	0.00%	24.76%	36.17%	36.68%	36.31%	35.89%	37.95%	39.32%
Pre Tax Income Margin	20.98%	33.54%	0.00%	41.47%	54.24%	44.28%	59.25%	53.72%	42.72%	44.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.14	3.13	0.00	4.30	5.60	4.87	7.40	6.92	4.53	4.59
NOPAT to Interest Expense	1.63	2.02	0.00	2.76	3.06	3.20	3.92	3.95	3.13	3.17
EBIT Less CapEx to Interest Expense	-0.30	4.07	0.00	0.41	1.76	0.68	4.72	4.27	4.39	5.61
NOPAT Less CapEx to Interest Expense	-0.81	2.96	0.00	-1.13	-0.77	-0.99	1.24	1.30	2.99	4.20
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	73.01%	66.12%	0.00%	65.53%	48.11%	63.98%	50.41%	41.86%	63.28%	65.42%
Augmented Payout Ratio	79.73%	66.41%	0.00%	67.30%	48.50%	65.66%	52.73%	43.24%	63.31%	65.42%

This table displays calculated financial ratios and metrics derived from First Industrial Realty Trust's official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	19.05%	0.00%	0.00%	0.00%	8.60%	7.83%	8.08%	11.64%	9.12%
EBITDA Growth	14.95%	0.00%	0.00%	0.00%	43.98%	2.71%	20.77%	-11.89%	-6.68%
EBIT Growth	20.85%	0.00%	0.00%	0.00%	61.58%	0.15%	31.16%	-18.55%	-17.98%
NOPAT Growth	-2.46%	0.00%	0.00%	0.00%	27.84%	11.71%	9.01%	13.97%	2.23%
Net Income Growth	63.71%	0.00%	0.00%	0.00%	16.00%	-5.97%	32.45%	-23.17%	-24.99%
EPS Growth	55.56%	0.00%	0.00%	0.00%	23.81%	-4.88%	31.58%	-23.88%	-30.77%
Operating Cash Flow Growth	17.40%	0.00%	0.00%	0.00%	-11.12%	25.58%	25.07%	19.28%	41.71%
Free Cash Flow Firm Growth	-228.07%	0.00%	0.00%	0.00%	-222.32%	0.00%	0.00%	0.00%	94.55%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	320.34%	0.00%	0.00%	1.52%	4.46%
Revenue Q/Q Growth	0.00%	1.87%	1.89%	1.40%	0.00%	1.15%	2.14%	4.74%	0.85%
EBITDA Q/Q Growth	0.00%	19.56%	19.85%	11.90%	0.00%	-14.71%	40.92%	-18.36%	-4.90%
EBIT Q/Q Growth	0.00%	29.65%	31.02%	16.04%	0.00%	-19.64%	71.58%	-27.94%	-17.46%
NOPAT Q/Q Growth	0.00%	28.48%	2.69%	2.09%	0.00%	12.27%	0.22%	6.73%	-13.58%
Net Income Q/Q Growth	0.00%	-7.47%	37.18%	18.86%	0.00%	-25.00%	93.23%	-31.06%	-24.92%
EPS Q/Q Growth	0.00%	-2.38%	39.02%	17.54%	0.00%	-25.00%	92.31%	-32.00%	-29.41%
Operating Cash Flow Q/Q Growth	0.00%	22.00%	-1.70%	-23.67%	0.00%	72.38%	-2.10%	-27.20%	15.35%
Free Cash Flow Firm Q/Q Growth	0.00%	100.00%	0.00%	0.00%	0.00%	-31.21%	0.08%	98.86%	-263.10%
Invested Capital Q/Q Growth	0.00%	-100.00%	0.00%	0.00%	0.00%	-0.06%	-0.08%	1.32%	3.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	71.77%	100.00%	100.00%	126.82%	71.03%	100.00%	100.00%	126.78%	100.00%
EBITDA Margin	64.57%	75.78%	89.14%	98.37%	85.61%	72.19%	99.60%	77.63%	73.21%
Operating Margin	37.76%	39.48%	39.64%	40.05%	37.17%	40.90%	41.10%	41.24%	38.91%
EBIT Margin	37.76%	48.06%	61.80%	70.72%	56.18%	44.64%	74.99%	51.59%	42.23%
Profit (Net Income) Margin	40.67%	36.94%	49.73%	58.30%	43.44%	32.21%	60.95%	40.12%	29.87%
Tax Burden Percent	150.78%	101.76%	101.58%	100.96%	100.32%	101.41%	97.42%	99.95%	95.62%
Interest Burden Percent	71.43%	75.53%	79.23%	81.65%	77.08%	71.17%	83.43%	77.80%	73.96%
Effective Tax Rate	17.78%	0.83%	0.44%	0.81%	1.68%	0.82%	3.15%	1.66%	10.67%
Return on Invested Capital (ROIC)	7.70%	0.00%	0.00%	1.28%	1.94%	2.71%	2.72%	1.42%	1.22%
ROIC Less NNEP Spread (ROIC-NNEP)	9.12%	0.00%	0.00%	1.49%	2.08%	2.51%	3.24%	1.41%	1.16%
Return on Net Nonoperating Assets (RNNOA)	7.29%	0.00%	0.00%	3.89%	4.16%	6.43%	8.13%	3.61%	3.01%
Return on Equity (ROE)	14.99%	0.00%	0.00%	5.17%	6.10%	9.14%	10.85%	5.02%	4.22%
Cash Return on Invested Capital (CROIC)	-191.34%	0.00%	0.00%	-75.24%	-121.08%	0.00%	0.00%	-0.13%	-3.00%
Operating Return on Assets (OROA)	4.30%	0.00%	0.00%	5.67%	4.59%	2.74%	4.69%	3.31%	2.71%
Return on Assets (ROA)	4.63%	0.00%	0.00%	4.67%	3.55%	1.97%	3.81%	2.57%	1.92%
Return on Common Equity (ROCE)	14.36%	0.00%	0.00%	3.36%	3.94%	4.57%	5.42%	2.51%	2.11%
Return on Equity Simple (ROE_SIMPLE)	16.49%	0.00%	0.00%	0.00%	11.39%	11.24%	12.05%	0.00%	10.50%
Net Operating Profit after Tax (NOPAT)	46	60	61	62	59	67	67	71	62
NOPAT Margin	31.05%	39.16%	39.46%	39.73%	36.55%	40.57%	39.80%	40.56%	34.76%
Net Nonoperating Expense Percent (NNEP)	-1.42%	0.00%	0.00%	-0.21%	-0.14%	0.20%	-0.52%	0.01%	0.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.64%	-	-	-	0.72%	0.60%
Cost of Revenue to Revenue	28.23%	0.00%	0.00%	-26.82%	28.97%	0.00%	0.00%	-26.78%	0.00%
SG&A Expenses to Revenue	6.26%	6.25%	5.45%	6.23%	7.26%	5.86%	5.51%	5.87%	8.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	34.01%	60.52%	60.36%	86.77%	33.86%	59.10%	58.90%	85.53%	61.09%
Earnings before Interest and Taxes (EBIT)	56	73	96	111	91	73	126	91	75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	96	115	138	155	139	118	167	136	130
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.81	0.00	0.00	2.57	2.58	2.35	2.73	2.41	2.61
Price to Tangible Book Value (P/TBV)	2.81	0.00	0.00	2.57	2.58	2.35	2.73	2.41	2.61
Price to Revenue (P/Rev)	12.06	0.00	0.00	11.02	11.00	9.84	11.37	9.91	10.44
Price to Earnings (P/E)	8.57	0.00	0.00	12.31	12.00	11.07	12.02	11.54	13.37
Dividend Yield	2.34%	2.40%	2.71%	2.50%	2.55%	2.90%	2.55%	2.95%	2.88%
Earnings Yield	11.67%	0.00%	0.00%	8.12%	8.33%	9.03%	8.32%	8.67%	7.48%
Enterprise Value to Invested Capital (EV/IC)	1.94	0.00	0.00	0.58	0.59	0.56	0.61	0.57	0.59
Enterprise Value to Revenue (EV/Rev)	15.68	0.00	0.00	18.10	17.95	16.65	17.87	16.33	17.20
Enterprise Value to EBITDA (EV/EBITDA)	17.44	0.00	0.00	22.02	20.56	19.32	20.10	19.50	21.34
Enterprise Value to EBIT (EV/EBIT)	25.35	0.00	0.00	33.02	30.29	28.62	28.99	28.72	32.30
Enterprise Value to NOPAT (EV/NOPAT)	44.93	0.00	0.00	47.70	46.36	42.60	45.68	41.54	44.27
Enterprise Value to Operating Cash Flow (EV/OCF)	20.99	0.00	0.00	36.47	37.88	33.34	34.22	31.02	31.09
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.82	0.00	0.00	0.84	0.83	0.83	0.80	0.80	0.87
Long-Term Debt to Equity	0.82	0.00	0.00	0.84	0.83	0.83	0.80	0.80	0.87
Financial Leverage	0.80	0.00	0.00	2.61	2.00	2.56	2.51	2.56	2.60
Leverage Ratio	1.96	0.00	0.00	1.96	1.95	1.94	1.92	1.94	1.96
Compound Leverage Factor	1.40	0.00	0.00	1.60	1.50	1.38	1.60	1.51	1.45
Debt to Total Capital	45.15%	0.00%	0.00%	45.73%	45.46%	45.33%	44.46%	44.54%	46.42%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	45.15%	0.00%	0.00%	45.73%	45.46%	45.33%	44.46%	44.54%	46.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.51%	0.00%	0.00%	0.82%	0.87%	0.88%	0.89%	0.89%	1.01%
Common Equity to Total Capital	52.56%	0.00%	0.00%	27.11%	27.24%	27.30%	27.74%	27.70%	26.73%
Debt to EBITDA	4.10	0.00	0.00	8.81	8.16	8.09	7.51	7.88	8.63
Net Debt to EBITDA	3.90	0.00	0.00	8.46	7.80	7.74	7.15	7.51	8.20
Long-Term Debt to EBITDA	4.10	0.00	0.00	8.81	8.16	8.09	7.51	7.88	8.63
Debt to NOPAT	10.57	0.00	0.00	19.09	18.40	17.83	17.07	16.78	17.91
Net Debt to NOPAT	10.04	0.00	0.00	18.33	17.60	17.07	16.26	16.00	17.01
Long-Term Debt to NOPAT	10.57	0.00	0.00	19.09	18.40	17.83	17.07	16.78	17.91
Altman Z-Score	1.83	0.00	0.00	0.90	0.93	0.85	1.02	0.91	0.90
Noncontrolling Interest Sharing Ratio	4.18%	0.00%	0.00%	35.04%	35.34%	50.06%	50.06%	50.06%	50.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	0.00	0.00	0.89	1.07	0.99	0.92	0.92	0.88
Quick Ratio	0.23	0.00	0.00	0.19	0.22	0.16	0.18	0.18	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4,501	0.00	0.00	0.00	-14,507	-19,035	-19,020	-218	-791
Operating Cash Flow to CapEx	70.39%	58.97%	120.11%	0.00%	303.56%	209.85%	0.00%	0.00%	42.07%
Free Cash Flow to Firm to Interest Expense	-279.22	0.00	0.00	0.00	-694.22	-901.01	-912.85	-10.82	-40.60
Operating Cash Flow to Interest Expense	4.36	4.79	4.24	3.15	2.99	5.10	5.06	3.82	4.55
Operating Cash Flow Less CapEx to Interest Expense	-1.83	-3.34	0.71	18.09	2.01	2.67	5.26	11.42	-6.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.00	0.00	0.08	0.08	0.06	0.06	0.06	0.06
Accounts Receivable Turnover	61.35	0.00	0.00	42.17	36.75	56.22	58.93	36.58	31.98
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.13	0.00	0.00	0.09	0.10	0.07	0.07	0.07	0.07
Accounts Payable Turnover	1.07	0.00	0.00	0.00	0.84	0.68	0.60	0.00	0.00
Days Sales Outstanding (DSO)	5.95	0.00	0.00	8.66	9.93	6.49	6.19	9.98	11.41
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	342.17	0.00	0.00	0.00	435.19	533.99	611.77	0.00	0.00
Cash Conversion Cycle (CCC)	-336.22	0.00	0.00	8.66	-425.26	-527.50	-605.58	9.98	11.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	4,547	0.00	0.00	19,049	19,114	19,101	19,087	19,338	19,966
Invested Capital Turnover	0.25	0.00	0.00	0.03	0.05	0.07	0.07	0.03	0.04
Increase / (Decrease) in Invested Capital	4,547	0.00	0.00	0.00	14,566	19,101	19,087	289	852
Enterprise Value (EV)	8,843	0.00	0.00	11,116	11,249	10,634	11,637	10,936	11,769
Market Capitalization	6,798	6,770	6,121	6,765	6,894	6,288	7,409	6,635	7,144
Book Value per Share	$18.32	$0.00	$0.00	$19.94	$20.21	$20.26	$20.50	$20.76	$20.70
Tangible Book Value per Share	$18.32	$0.00	$0.00	$19.94	$20.21	$20.26	$20.50	$20.76	$20.70
Total Capital	4,609	0.00	0.00	9,728	9,819	9,818	9,782	9,920	10,257
Total Debt	2,081	0.00	0.00	4,449	4,464	4,451	4,350	4,419	4,761
Total Long-Term Debt	2,081	0.00	0.00	4,449	4,464	4,451	4,350	4,419	4,761
Net Debt	1,975	0.00	0.00	4,272	4,270	4,260	4,141	4,213	4,522
Capital Expenditures (CapEx)	100	145	70	-305	21	51	-4.05	-153	211
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-83	0.00	0.00	-151	-59	-98	-160	-147	-151
Debt-free Net Working Capital (DFNWC)	-11	0.00	0.00	-63	38	-4.43	-49	-43	-76
Net Working Capital (NWC)	-11	0.00	0.00	-63	38	-4.43	-49	-43	-76
Net Nonoperating Expense (NNE)	-14	3.37	-16	-29	-11	14	-35	0.78	8.66
Net Nonoperating Obligations (NNO)	2,019	0.00	0.00	13,769	13,758	13,734	13,654	13,837	14,470
Total Depreciation and Amortization (D&A)	40	42	42	43	48	45	41	46	55
Debt-free, Cash-free Net Working Capital to Revenue	-14.69%	0.00%	0.00%	-24.58%	-9.47%	-15.27%	-24.50%	-21.91%	-22.02%
Debt-free Net Working Capital to Revenue	-1.98%	0.00%	0.00%	-10.30%	6.12%	-0.69%	-7.56%	-6.48%	-11.09%
Net Working Capital to Revenue	-1.98%	0.00%	0.00%	-10.30%	6.12%	-0.69%	-7.56%	-6.48%	-11.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.00	$0.00	$0.68	$0.52	$0.39	$0.75	$0.51	$0.36
Adjusted Weighted Average Basic Shares Outstanding	132.21M	0.00	0.00	132.26M	132.36M	132.37M	132.37M	132.37M	132.42M
Adjusted Diluted Earnings per Share	$0.42	$0.00	$0.00	$0.67	$0.52	$0.39	$0.75	$0.51	$0.36
Adjusted Weighted Average Diluted Shares Outstanding	132.30M	0.00	0.00	132.34M	132.41M	132.40M	132.42M	132.42M	132.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	264.49M	0.00	0.00	529.36M	264.68M	264.69M	132.35M	132.39M	132.40M
Normalized Net Operating Profit after Tax (NOPAT)	46	60	61	62	59	67	67	71	62
Normalized NOPAT Margin	31.05%	39.16%	39.46%	39.73%	36.55%	40.57%	39.80%	40.56%	34.76%
Pre Tax Income Margin	26.98%	36.30%	48.96%	57.74%	43.31%	31.77%	62.56%	40.14%	31.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.50	4.09	4.82	5.45	4.36	3.47	6.03	4.50	3.84
NOPAT to Interest Expense	2.88	3.33	3.08	3.06	2.84	3.15	3.20	3.54	3.16
EBIT Less CapEx to Interest Expense	-2.70	-4.04	1.29	20.39	3.38	1.04	6.23	12.11	-6.97
NOPAT Less CapEx to Interest Expense	-3.32	-4.80	-0.45	18.00	1.85	0.72	3.40	11.14	-7.65
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	43.08%	0.00%	0.00%	63.28%	58.58%	61.60%	58.87%	65.42%	72.00%
Augmented Payout Ratio	43.08%	0.00%	0.00%	63.31%	58.58%	61.62%	58.89%	65.42%	75.59%

Frequently Asked Questions About First Industrial Realty Trust's Financials

When does First Industrial Realty Trust's fiscal year end?

According to the most recent income statement we have on file, First Industrial Realty Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has First Industrial Realty Trust's net income changed over the last 9 years?

First Industrial Realty Trust's net income appears to be on an upward trend, with a most recent value of $295.99 million in 2024, rising from $76.71 million in 2015. The previous period was $285.84 million in 2023. See First Industrial Realty Trust's forecast for analyst expectations on what’s next for the company.

What is First Industrial Realty Trust's operating income?

First Industrial Realty Trust's total operating income in 2024 was $268.77 million, based on the following breakdown:

Total Gross Profit: $669.64 million
Total Operating Expenses: $400.87 million

How has First Industrial Realty Trust revenue changed over the last 9 years?

Over the last 9 years, First Industrial Realty Trust's total revenue changed from $365.82 million in 2015 to $669.64 million in 2024, a change of 83.1%.

How much debt does First Industrial Realty Trust have?

First Industrial Realty Trust's total liabilities were at $5.03 billion at the end of 2024, a 1.0% decrease from 2023, and a 215.5% increase since 2015.

How much cash does First Industrial Realty Trust have?

In the past 9 years, First Industrial Realty Trust's cash and equivalents has ranged from $3.99 million in 2015 to $162.09 million in 2020, and is currently $89.02 million as of their latest financial filing in 2024.

How has First Industrial Realty Trust's book value per share changed over the last 9 years?

Over the last 9 years, First Industrial Realty Trust's book value per share changed from 9.69 in 2015 to 20.76 in 2024, a change of 114.2%.

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This page (NYSE:FR) was last updated on 5/5/2025 by MarketBeat.com Staff

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First Industrial Realty Trust (FR) Financials

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First Industrial Realty Trust (FR) Financials

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