First Industrial Realty Trust (FR) Financials

$49.04 +0.88 (+1.84%)

Closing price 03:59 PM Eastern

Extended Trading

$49.02 -0.02 (-0.04%)

As of 06:09 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	575	549	718	542	196	239	163	201	121	74
Consolidated Net Income / (Loss)	296	286	382	277	200	244	167	208	126	77
Net Income / (Loss) Continuing Operations	296	286	382	277	200	244	167	-146	126	77
Total Pre-Tax Income	298	262	290	282	198	231	168	209	127	77
Total Operating Income	269	241	211	176	166	156	140	-144	121	110
Total Gross Profit	670	614	540	345	448	426	404	0.00	378	366
Total Revenue	670	614	540	476	448	426	404	0.00	378	366
Operating Revenue	670	614	540	476	448	426	404	-	378	366
Total Cost of Revenue	0.00	0.00	0.00	131	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	401	373	329	169	282	270	264	144	257	256
Selling, General & Admin Expense	41	37	34	35	33	29	28	-	27	25
Depreciation Expense	172	163	147	131	130	121	116	116	117	114
Amortization Expense	3.65	3.63	3.19	3.42	-	3.22	-	-	-	-
Other Operating Expenses / (Income)	184	169	145	0.00	119	117	117	28	112	115
Total Other Income / (Expense), net	29	21	79	103	32	75	27	0.00	5.55	-33
Interest Expense	83	74	49	44	51	50	51	-	59	67
Other Income / (Expense), net	112	96	128	150	83	125	78	-	65	34
Income Tax Expense	6.08	8.69	23	4.88	2.41	3.41	-0.09	1.19	1.09	0.12
Other Gains / (Losses), net	4.30	32	115	-0.16	4.20	16	-0.28	0.00	0.00	0.06
Net Income / (Loss) Attributable to Noncontrolling Interest	8.43	11	22	6.47	4.18	5.11	4.10	6.85	4.45	2.90
Basic Earnings per Share	$2.17	$2.08	$2.72	$2.09	$1.53	$1.89	$1.31	$1.70	$1.05	$0.67
Weighted Average Basic Shares Outstanding	132.37M	132.26M	132.02M	129.69M	127.71M	126.39M	123.80M	118.27M	115.03M	110.35M
Diluted Earnings per Share	$2.17	$2.07	$2.72	$2.09	$1.53	$1.88	$1.31	$1.69	$1.05	$0.66
Weighted Average Diluted Shares Outstanding	132.42M	132.34M	132.10M	129.78M	127.90M	126.69M	124.19M	118.27M	115.37M	110.78M
Weighted Average Basic & Diluted Shares Outstanding	132.39M	529.36M	264.42M	263.56M	258.25M	127.04M	126.59M	118.27M	117.27M	111.24M
Cash Dividends to Common per Share	$1.48	$1.28	$1.18	$1.08	$1.00	$0.92	$0.87	$0.84	$0.76	$0.51

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

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

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

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

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

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

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

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

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

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. View First Industrial Realty Trust's forecast to see where analysts expect First Industrial Realty Trust to go next.

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 5/27/2025 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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