What is Modiv Industrial's operating income?

Modiv Industrial's total operating income in 2025 was $15.82 million, based on the following breakdown: Total Gross Profit: $42.93 million Total Operating Expenses: $27.11 million

Modiv Industrial (MDV) Financials

$17.61 +0.08 (+0.46%)

As of 10:18 AM Eastern

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Annual Income Statements for Modiv Industrial

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-1.24	-0.87	-1.80	-4.42	-49	-1.50	-6.98	-10	2.33	-2.13
Consolidated Net Income / (Loss)	-1.24	-0.87	-1.80	-4.42	-49	-0.44	-4.51	-8.70	6.49	0.55
Net Income / (Loss) Continuing Operations	-1.24	-0.87	-1.80	-4.42	-49	-0.44	-4.51	-8.70	6.49	0.55
Total Pre-Tax Income	-1.24	-0.87	-1.80	-4.42	-49	-0.44	-4.51	-8.70	6.49	0.55
Total Operating Income	-1.16	-1.07	3.53	-4.72	-49	-1.53	4.93	2.61	22	16
Total Gross Profit	0.69	6.11	15	20	32	31	37	42	43	43
Total Revenue	0.86	7.39	18	25	39	38	44	47	47	46
Operating Revenue	0.86	7.39	18	25	39	38	44	47	47	46
Total Cost of Revenue	0.17	1.28	3.19	4.88	7.00	6.88	6.55	5.16	3.61	3.46
Operating Cost of Revenue	0.17	1.28	3.19	4.88	7.00	6.88	6.55	5.16	3.61	3.46
Total Operating Expenses	1.85	7.18	11	17	80	25	32	39	21	27
Selling, General & Admin Expense	1.28	3.74	2.57	2.71	10	9.72	7.81	6.64	6.34	5.81
Depreciation Expense	0.49	3.08	6.99	9.85	18	15	15	16	17	15
Other Operating Expenses / (Income)	0.01	0.36	1.71	2.97	18	-3.39	2.40	11	1.59	2.92
Impairment Charge	-	-	-	0.00	35	3.37	19	4.39	0.00	5.81
Other Special Charges / (Income)	-	-	-	-	-	-	-12	1.71	-3.36	-2.52
Total Other Income / (Expense), net	-0.08	0.21	-5.33	-7.08	-0.43	-6.49	-9.44	-11	-15	-15
Interest Expense	-	-	5.58	7.38	0.00	7.59	9.83	14	16	17
Interest & Investment Income	-0.08	0.21	0.24	0.30	0.30	0.30	0.30	1.08	0.88	1.65
Other Income / (Expense), net	-	-	-	0.00	-0.73	0.80	0.09	1.42	-0.15	0.00
Preferred Stock Dividends Declared	-	-	-	-	0.00	1.07	3.69	3.69	3.69	3.20
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	-1.22	-2.08	0.48	-0.51
Basic Earnings per Share	($2.89)	($0.15)	($0.16)	($0.88)	($6.14)	($0.20)	($0.93)	($1.36)	$0.25	($0.31)
Weighted Average Basic Shares Outstanding	428.26K	5.98M	11.07M	5.01M	8.01M	7.54M	7.49M	7.56M	9.29M	10.14M
Diluted Earnings per Share	($2.89)	($0.15)	($0.16)	($0.88)	($6.14)	($0.20)	($0.93)	($1.36)	$0.25	($0.31)
Weighted Average Diluted Shares Outstanding	428.26K	5.98M	11.07M	5.01M	8.01M	7.54M	7.49M	9.09M	11.19M	11.68M
Weighted Average Basic & Diluted Shares Outstanding	428.26K	5.98M	11.07M	5.01M	8.01M	7.56M	7.55M	9.17M	9.97M	10.32M
Cash Dividends to Common per Share	$0.32	$0.70	$0.70	$2.11	$1.46	-	-	-	$1.15	$1.17

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-6.46	-2.22	2.80	0.40	-1.51	0.63	0.00	-2.82	0.25	0.43	-0.86
Consolidated Net Income / (Loss)	-6.91	-1.84	4.64	1.26	-1.05	1.64	0.83	-2.63	1.08	1.28	-0.30
Net Income / (Loss) Continuing Operations	-6.91	-1.84	4.64	1.26	-1.05	1.64	0.83	-2.63	1.08	1.28	-0.30
Total Pre-Tax Income	-6.91	-1.84	4.64	1.26	-1.05	1.64	0.83	-2.63	1.08	1.28	-0.30
Total Operating Income	-4.72	3.84	6.66	5.09	4.90	5.33	4.74	1.17	4.84	5.08	4.20
Total Gross Profit	11	12	11	11	11	11	11	11	11	10	11
Total Revenue	13	12	12	11	12	12	12	12	12	11	12
Operating Revenue	13	12	12	11	12	12	12	12	12	11	12
Total Cost of Revenue	1.20	0.73	0.98	0.69	1.03	0.91	0.85	0.83	0.92	0.87	0.91
Operating Cost of Revenue	1.20	0.73	0.98	0.69	1.03	0.91	0.85	0.83	0.92	0.87	0.91
Total Operating Expenses	16	7.82	4.32	5.62	5.73	5.49	6.21	9.84	5.93	5.13	6.59
Selling, General & Admin Expense	1.74	1.40	2.00	1.42	1.66	1.26	1.99	1.20	1.37	1.25	1.51
Depreciation Expense	4.18	4.15	4.13	4.14	4.17	4.16	3.82	3.83	3.75	3.70	3.72
Other Operating Expenses / (Income)	8.47	1.38	1.38	0.07	0.08	0.06	0.48	0.81	0.81	0.81	1.37
Other Special Charges / (Income)	1.71	0.00	-3.19	0.00	-0.17	-0.00	-0.08	0.00	0.00	-2.44	0.00
Total Other Income / (Expense), net	-2.19	-5.68	-2.02	-3.83	-5.95	-3.69	-3.91	-3.80	-3.77	-3.79	-4.50
Interest Expense	2.92	7.05	2.31	4.10	6.10	3.71	4.05	4.02	4.05	4.80	4.56
Interest & Investment Income	0.30	0.39	0.31	0.28	0.16	-0.00	0.14	0.22	0.29	1.01	0.06
Preferred Stock Dividends Declared	0.92	0.92	0.92	0.92	0.92	0.92	0.83	0.80	0.80	0.78	0.78
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.37	-0.55	0.91	-0.06	-0.46	0.09	0.00	-0.61	0.03	0.07	-0.21
Basic Earnings per Share	($0.86)	($0.29)	$0.33	$0.03	($0.18)	$0.06	($0.01)	($0.32)	$0.00	$0.02	($0.11)
Weighted Average Basic Shares Outstanding	7.55M	7.56M	8.57M	9.44M	9.43M	9.29M	9.97M	10.12M	10.20M	10.14M	10.31M
Diluted Earnings per Share	($0.86)	($0.23)	$0.33	$0.03	($0.18)	$0.07	($0.01)	($0.32)	$0.00	$0.02	($0.11)
Weighted Average Diluted Shares Outstanding	9.15M	9.09M	11.36M	11.42M	10.96M	11.19M	11.32M	11.72M	11.79M	11.68M	11.91M
Weighted Average Basic & Diluted Shares Outstanding	7.59M	9.17M	9.45M	9.49M	9.65M	9.97M	10.12M	10.16M	10.27M	10.32M	10.32M
Cash Dividends to Common per Share	$0.29	-	$0.29	$0.29	$0.29	-	$0.29	$0.29	$0.29	-	$0.30

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	3.48	0.51	4.57	-1.82	1.44	50	-50	-5.48	8.40	2.85
Net Cash From Operating Activities	-0.67	3.79	5.88	4.75	5.58	9.73	17	17	18	15
Net Cash From Continuing Operating Activities	-0.67	3.79	5.88	4.75	5.58	9.73	17	17	18	15
Net Income / (Loss) Continuing Operations	-1.24	-0.87	-1.80	-4.42	-49	-0.44	-4.51	-8.70	6.49	0.55
Consolidated Net Income / (Loss)	-1.24	-0.87	-1.80	-4.42	-49	-0.44	-4.51	-8.70	6.49	0.55
Depreciation Expense	0.49	3.08	6.99	9.85	18	15	15	16	17	15
Amortization Expense	0.10	0.32	0.63	0.15	-1.88	-0.72	2.06	0.92	1.82	2.67
Non-Cash Adjustments To Reconcile Net Income	-0.05	-0.69	-0.24	0.68	43	-3.10	4.48	9.38	-6.61	-2.76
Changes in Operating Assets and Liabilities, net	0.02	1.96	0.31	-1.51	-3.57	-1.28	-0.31	-0.58	-0.07	-0.58
Net Cash From Investing Activities	-37	-116	-92	-30	25	22	-61	-94	8.40	28
Net Cash From Continuing Investing Activities	-37	-116	-92	-30	25	22	-61	-94	8.40	28
Acquisitions	-0.73	-3.94	-2.80	-0.65	-0.57	-1.20	0.08	-0.81	0.00	0.30
Purchase of Investments	-3.64	-11	-0.42	-	-	-	-127	-123	-5.18	-4.55
Sale of Property, Plant & Equipment	-	-	-	0.00	-	38	71	35	15	27
Sale and/or Maturity of Investments	-	-	-	-	27	0.00	1.84	0.00	0.65	4.58
Other Investing Activities, net	-0.03	-0.66	-1.73	-3.49	-1.66	0.47	-6.50	-4.75	-2.10	0.33
Net Cash From Financing Activities	41	112	91	23	-29	18	-5.38	72	-18	-40
Net Cash From Continuing Financing Activities	41	112	91	23	-29	18	-5.38	72	-18	-40
Repayment of Debt	-14	-56	-54	-29	-56	-35	-139	-16	-0.28	-20
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	0.00	-7.11
Repurchase of Common Equity	-0.74	-4.52	-10	-14	-19	-21	-5.27	-1.13	-12	0.00
Payment of Dividends	-0.05	-0.73	-1.66	-4.02	-5.02	-3.47	-11	-12	-14	-16
Issuance of Common Equity	25	63	44	35	11	4.34	0.11	0.83	7.71	2.75
Cash Interest Paid	0.35	1.29	4.24	5.86	9.12	8.05	7.77	12	14	12

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-4.27	-2.51	15	0.47	-12	4.71	-5.37	-0.35	4.13	4.43	-9.90
Net Cash From Operating Activities	3.92	5.37	2.99	4.71	5.14	5.41	3.05	3.94	4.14	3.84	4.10
Net Cash From Continuing Operating Activities	3.92	5.37	2.99	4.71	5.14	5.41	3.05	3.94	4.14	3.84	4.10
Net Income / (Loss) Continuing Operations	-6.91	-1.84	4.64	1.26	-1.05	1.64	0.83	-2.63	1.08	1.28	-0.30
Consolidated Net Income / (Loss)	-6.91	-1.84	4.64	1.26	-1.05	1.64	0.83	-2.63	1.08	1.28	-0.30
Depreciation Expense	4.18	4.15	4.13	4.14	4.17	4.16	3.82	3.83	3.75	3.70	3.72
Amortization Expense	-0.39	0.74	0.22	-0.94	1.39	0.32	0.94	2.03	-3.08	4.54	0.16
Non-Cash Adjustments To Reconcile Net Income	7.54	2.16	-4.73	0.32	-0.17	-1.18	-2.38	0.94	1.93	-5.01	-0.06
Changes in Operating Assets and Liabilities, net	-0.50	0.16	-1.27	-0.07	0.80	0.46	-0.16	-0.23	0.47	-0.66	0.58
Net Cash From Investing Activities	4.88	-2.61	15	-0.46	-4.34	-1.49	-0.86	1.15	3.08	24	-7.97
Net Cash From Continuing Investing Activities	4.88	-2.61	15	-0.46	-4.34	-1.49	-0.86	1.15	3.08	24	-7.97
Purchase of Investments	-30	1.74	0.00	-	-5.18	1.76	-4.55	-	-	-	-12
Sale of Property, Plant & Equipment	35	0.00	15	-	0.24	0.00	2.33	-	-	-	3.60
Sale and/or Maturity of Investments	-	-	0.00	0.65	-	-0.00	1.18	-1.13	3.54	-1.33	0.77
Other Investing Activities, net	0.49	-3.54	-0.10	-0.11	-0.40	-3.00	0.17	-0.04	0.13	0.32	-0.05
Net Cash From Financing Activities	-13	-5.27	-2.39	-3.78	-13	0.79	-7.55	-5.44	-3.08	-24	-6.04
Net Cash From Continuing Financing Activities	-13	-5.27	-2.39	-3.78	-13	0.79	-7.55	-5.44	-3.08	-24	-6.04
Repayment of Debt	-10	-3.08	-0.05	-0.07	-0.07	-0.09	-0.21	-0.14	-0.14	-19	-3.20
Repurchase of Preferred Equity	-	-	0.00	-	-	-	-4.85	-1.68	-	-0.58	-0.53
Payment of Dividends	-3.00	-3.02	-3.28	-3.67	-3.61	-3.57	-3.76	-4.03	-4.02	-4.10	-4.31
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	2.00
Issuance of Common Equity	-	0.83	0.93	-0.05	2.38	4.45	1.27	0.40	1.08	-	0.00
Cash Interest Paid	3.53	3.33	3.32	3.32	3.42	3.45	3.02	3.12	3.09	3.04	2.74

This table presents Modiv Industrial'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	2025
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	12/31/2025
Total Assets	0.20	41	157	252	491	407	428	454	531	508	476
Total Current Assets	0.20	4.26	6.59	9.01	8.81	11	64	22	20	33	40
Cash & Equivalents	0.20	3.43	3.24	5.25	6.82	8.25	56	8.61	3.13	12	14
Accounts Receivable	0.00	0.11	1.30	0.02	0.00	-	-	7.26	13	18	23
Prepaid Expenses	0.00	0.48	1.10	0.23	1.87	2.19	5.86	6.10	4.17	2.69	1.99
Plant, Property, & Equipment, net	0.00	36	127	239	376	306	275	426	495	474	435
Plant, Property & Equipment, gross	0.00	30	130	217	397	338	312	438	509	489	482
Accumulated Depreciation	0.00	0.49	3.57	11	20	32	38	47	51	60	73
Total Noncurrent Assets	0.00	7.92	24	36	106	91	90	41	53	46	28
Long-Term Investments	0.00	3.52	15	14	10	10	11	10	21	9.32	9.44
Intangible Assets	0.00	0.15	0.68	0.58	8.95	5.95	0.69	1.85	1.31	1.24	1.17
Other Noncurrent Operating Assets	0.00	4.13	8.38	18	30	49	53	29	30	36	18
Total Liabilities & Shareholders' Equity	0.20	41	157	252	491	407	428	454	531	508	476
Total Liabilities	0.01	19	78	143	237	217	206	213	306	294	274
Total Current Liabilities	0.00	0.47	2.41	7.16	16	7.58	12	5.88	4.47	4.04	3.83
Accounts Payable	0.00	0.47	2.41	7.16	12	7.58	12	5.88	4.47	4.04	3.83
Total Noncurrent Liabilities	0.01	18	75	136	220	210	194	208	301	290	271
Long-Term Debt	0.00	17	72	132	202	192	182	195	280	280	261
Capital Lease Obligations	0.00	-	1.58	2.60	15	13	11	9.68	8.87	7.95	7.07
Other Noncurrent Operating Liabilities	0.01	0.98	1.29	1.86	4.04	5.53	1.17	2.38	13	2.02	2.03
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.19	22	79	103	240	183	222	241	225	214	202
Total Preferred & Common Equity	0.19	22	79	103	190	132	172	160	144	190	163
Preferred Stock	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.19	22	79	103	190	132	172	160	144	190	163
Common Stock	0.20	24	85	119	221	224	273	278	293	349	337
Retained Earnings	-0.01	-1.41	-6.08	-16	-31	-92	-102	-118	-146	-154	-168
Treasury Stock	-	-	-	-	-	-	0.00	-4.16	-5.29	-7.11	-7.11
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	0.00	3.50	2.66	1.84	0.92
Noncontrolling Interest	-	-	-	0.00	51	51	51	81	81	24	39

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

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	539	522	520	507	507	499	500	484
Total Current Assets	22	38	40	28	29	29	33	31
Cash & Equivalents	5.64	18	19	6.82	6.17	5.81	8.26	4.48
Accounts Receivable	11	15	16	17	20	21	22	25
Prepaid Expenses	4.88	5.12	5.23	3.40	2.83	2.51	2.43	2.32
Plant, Property, & Equipment, net	500	480	475	478	474	466	463	449
Plant, Property & Equipment, gross	513	509	509	516	492	487	481	497
Accumulated Depreciation	48	55	59	63	63	66	70	71
Total Noncurrent Assets	52	30	29	27	49	49	55	28
Long-Term Investments	20	9.82	9.66	9.49	9.16	9.26	9.51	0.11
Intangible Assets	1.33	1.30	1.28	1.26	1.22	1.20	1.18	1.16
Other Noncurrent Operating Assets	31	19	18	17	39	38	44	26
Total Liabilities & Shareholders' Equity	539	522	520	507	507	499	500	484
Total Liabilities	301	294	294	296	293	293	295	287
Total Current Liabilities	8.89	3.85	3.73	4.99	3.80	3.33	5.69	4.26
Accounts Payable	8.89	3.85	3.73	4.99	3.80	3.33	5.69	4.26
Total Noncurrent Liabilities	292	290	290	291	290	289	289	282
Long-Term Debt	283	280	280	280	280	280	280	273
Capital Lease Obligations	9.10	8.64	8.41	8.18	7.76	7.53	7.30	6.84
Other Noncurrent Operating Liabilities	0.16	2.01	2.02	2.72	2.11	2.03	2.04	2.06
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	238	228	226	212	213	206	205	198
Total Preferred & Common Equity	155	188	187	186	171	166	165	159
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	155	188	187	186	171	166	165	159
Common Stock	290	336	338	343	334	334	336	338
Retained Earnings	-133	-145	-148	-152	-157	-163	-165	-172
Treasury Stock	-5.29	-5.29	-5.29	-7.11	-7.11	-7.11	-7.11	-7.11
Accumulated Other Comprehensive Income / (Loss)	2.87	2.34	2.14	2.05	1.45	1.37	1.13	0.87
Noncontrolling Interest	83	40	39	25	42	41	40	38

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
DEI Shares Outstanding	1,327,759.00	8,239,821.00	12,503,923.00	15,731,980.00	24,078,782.00	7,457,874.00	7,485,866.00	7,590,138.00	-	10,274,997.00
DEI Adjusted Shares Outstanding	1,327,759.00	8,239,821.00	12,503,923.00	15,731,980.00	24,078,782.00	7,457,874.00	7,485,866.00	7,590,138.00	-	10,274,997.00
DEI Earnings Per Adjusted Shares Outstanding	-0.93	-0.11	-0.14	-0.28	-2.04	-0.20	-0.93	-1.36	-	-0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	757.59%	143.36%	36.48%	57.42%	-1.94%	15.66%	7.79%	-1.00%	-0.80%
EBITDA Growth	0.00%	506.81%	380.08%	-52.63%	-738.63%	140.96%	59.33%	-6.86%	89.87%	-16.59%
EBIT Growth	0.00%	7.27%	428.60%	-233.53%	-948.29%	98.52%	785.08%	-19.73%	445.43%	-27.53%
NOPAT Growth	0.00%	7.27%	428.60%	-233.53%	-932.82%	96.85%	421.20%	-47.00%	1,102.66%	-28.03%
Net Income Growth	0.00%	29.82%	-107.46%	-145.10%	-1,012.82%	99.11%	-935.88%	-92.76%	174.67%	-91.47%
EPS Growth	0.00%	94.81%	-6.67%	-450.00%	-597.73%	96.74%	-365.00%	-46.24%	118.38%	-224.00%
Operating Cash Flow Growth	0.00%	664.00%	55.16%	-19.26%	17.45%	74.43%	71.13%	-0.42%	10.02%	-17.95%
Free Cash Flow Firm Growth	0.00%	0.00%	-20.52%	-81.33%	122.94%	-40.42%	-494.01%	44.54%	136.37%	199.08%
Invested Capital Growth	0.00%	238.31%	87.40%	81.49%	-17.91%	-7.88%	33.48%	13.89%	-0.14%	-9.90%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.71%	-2.91%	-0.77%	-1.39%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.18%	0.16%	2.45%	13.96%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	319.24%	-5.67%	2.49%	-1.75%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	292.89%	-33.67%	8.86%	-1.59%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	39.12%	-41.78%	115.77%	-39.45%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	30.08%	-25.93%	600.00%	-19.23%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	30.65%	-10.54%	0.21%	-9.47%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.22%	-54.91%	12,400.77%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.08%	-2.28%	3.37%	-9.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.15%	82.64%	82.29%	80.13%	81.89%	81.84%	85.06%	89.07%	92.27%	92.54%
EBITDA Margin	-66.24%	31.42%	61.98%	21.52%	-87.29%	36.46%	50.23%	43.41%	83.25%	72.38%
Operating Margin	-134.51%	-14.55%	19.64%	-19.22%	-126.07%	-4.05%	11.24%	5.53%	47.01%	34.10%
EBIT Margin	-134.51%	-14.55%	19.64%	-19.22%	-127.96%	-1.93%	11.46%	8.53%	47.01%	34.10%
Profit (Net Income) Margin	-143.60%	-11.75%	-10.02%	-17.99%	-127.18%	-1.15%	-10.29%	-18.41%	13.89%	1.19%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	106.75%	80.79%	-51.01%	93.63%	99.39%	59.42%	-89.85%	-215.78%	29.54%	3.50%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-2.04%	-0.86%	1.28%	-0.93%	-8.18%	-0.30%	0.85%	0.37%	4.18%	3.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.49%	-1.18%	-3.03%	-1.57%	-15.90%	0.11%	-3.76%	-3.66%	-0.87%	-2.07%
Return on Net Nonoperating Assets (RNNOA)	-3.48%	-0.84%	-3.19%	-1.50%	-13.93%	0.09%	-2.80%	-4.10%	-1.22%	-2.90%
Return on Equity (ROE)	-5.52%	-1.71%	-1.91%	-2.43%	-22.11%	-0.21%	-1.95%	-3.73%	2.96%	0.27%
Cash Return on Invested Capital (CROIC)	0.00%	-109.60%	-59.54%	-58.83%	11.49%	7.91%	-27.83%	-12.62%	4.31%	13.58%
Operating Return on Assets (OROA)	-5.59%	-1.08%	1.73%	-1.27%	-11.01%	-0.18%	1.14%	0.82%	4.23%	3.21%
Return on Assets (ROA)	-5.96%	-0.88%	-0.88%	-1.19%	-10.94%	-0.10%	-1.02%	-1.77%	1.25%	0.11%
Return on Common Equity (ROCE)	-5.47%	-1.70%	-1.85%	-1.96%	-16.01%	-0.16%	-1.39%	-2.43%	2.25%	0.23%
Return on Equity Simple (ROE_SIMPLE)	-5.57%	-1.10%	-1.75%	-2.33%	-37.15%	-0.25%	-2.82%	-6.02%	3.41%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.81	-0.75	2.47	-3.30	-34	-1.07	3.45	1.83	22	16
NOPAT Margin	-94.16%	-10.18%	13.75%	-13.45%	-88.25%	-2.83%	7.87%	3.87%	47.01%	34.10%
Net Nonoperating Expense Percent (NNEP)	2.45%	0.32%	4.30%	0.64%	7.72%	-0.41%	4.61%	4.03%	5.05%	5.23%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	0.36%	4.38%	3.36%
Cost of Revenue to Revenue	19.85%	17.36%	17.71%	19.87%	18.11%	18.16%	14.94%	10.93%	7.73%	7.46%
SG&A Expenses to Revenue	148.13%	50.65%	14.29%	11.05%	26.91%	25.64%	17.83%	14.06%	13.56%	12.53%
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	214.66%	97.19%	62.65%	69.27%	207.96%	65.87%	73.82%	83.55%	45.27%	58.44%
Earnings before Interest and Taxes (EBIT)	-1.16	-1.07	3.53	-4.72	-49	-0.73	5.02	4.03	22	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.57	2.32	11	5.28	-34	14	22	21	39	34
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.46	0.66	0.74	0.89
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.46	0.67	0.75	0.89
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	1.66	2.02	3.03	3.11
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	60.79	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.84%	9.14%	16.09%	8.35%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.64%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.74	0.84	0.82	0.90
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	7.77	9.32	9.25	9.23
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	15.47	21.47	11.11	12.75
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	67.82	109.25	19.67	27.06
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	98.74	240.89	19.67	27.06
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	20.45	26.56	23.71	28.60
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19.05	6.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.93	1.23	0.87	1.07	0.87	0.85	1.28	1.34	1.33
Long-Term Debt to Equity	0.77	0.93	1.23	0.85	1.07	0.87	0.85	1.28	1.34	1.33
Financial Leverage	0.77	0.72	1.05	0.96	0.88	0.75	0.74	1.12	1.40	1.40
Leverage Ratio	1.83	1.95	2.17	2.05	2.02	2.03	1.91	2.11	2.37	2.37
Compound Leverage Factor	1.96	1.58	-1.11	1.92	2.01	1.20	-1.71	-4.56	0.70	0.08
Debt to Total Capital	43.50%	48.30%	55.18%	46.51%	51.76%	46.46%	45.98%	56.16%	57.34%	57.07%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	1.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	43.50%	48.30%	55.18%	45.50%	51.76%	46.46%	45.98%	56.16%	57.34%	57.07%
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	0.50%	0.03%	2.47%	13.61%	14.70%	12.18%	18.22%	15.71%	4.76%	8.35%
Common Equity to Total Capital	56.00%	51.67%	42.36%	39.88%	33.54%	41.36%	35.81%	28.13%	37.89%	34.58%
Debt to EBITDA	-30.26	31.90	12.05	41.86	-6.05	13.97	9.32	14.07	7.39	8.00
Net Debt to EBITDA	-17.64	23.84	9.98	38.58	-5.51	8.97	8.47	12.88	6.86	7.29
Long-Term Debt to EBITDA	-30.26	31.90	12.05	40.95	-6.05	13.97	9.32	14.07	7.39	8.00
Debt to NOPAT	-21.28	-98.44	54.32	-66.96	-5.99	-179.80	59.48	157.80	13.09	16.98
Net Debt to NOPAT	-12.41	-73.58	45.00	-61.71	-5.45	-115.41	54.08	144.49	12.14	15.47
Long-Term Debt to NOPAT	-21.28	-98.44	54.32	-65.51	-5.99	-179.80	59.48	157.80	13.09	16.98
Altman Z-Score	0.00	0.00	0.00	0.00	0.00	0.00	0.02	-0.05	0.17	0.12
Noncontrolling Interest Sharing Ratio	0.87%	0.24%	3.21%	19.45%	27.59%	26.31%	28.46%	34.75%	23.81%	15.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.07	2.73	1.26	0.54	1.39	5.43	3.74	4.50	8.10	10.39
Quick Ratio	7.53	1.88	0.74	0.42	1.09	4.72	2.70	3.56	7.43	9.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-96	-115	-209	48	29	-113	-62	23	68
Operating Cash Flow to CapEx	-2.05%	3.77%	6.76%	17.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-20.66	-28.30	0.00	3.76	-11.44	-4.52	1.40	4.01
Operating Cash Flow to Interest Expense	0.00	0.00	1.05	0.64	0.00	1.28	1.69	1.20	1.12	0.88
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-14.55	-2.94	0.00	4.26	8.88	3.72	2.05	2.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.07	0.09	0.07	0.09	0.09	0.10	0.10	0.09	0.09
Accounts Receivable Turnover	0.00	10.51	27.37	2,560.77	0.00	0.00	0.00	4.71	2.99	2.21
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	0.00	0.09	0.10	0.08	0.11	0.13	0.13	0.10	0.10	0.10
Accounts Payable Turnover	0.00	0.89	0.67	0.52	0.73	0.71	0.74	1.00	0.85	0.88
Days Sales Outstanding (DSO)	0.00	34.71	13.34	0.14	0.00	0.00	0.00	77.50	121.98	164.83
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	409.99	548.61	700.41	498.93	515.18	494.11	365.98	429.50	414.90
Cash Conversion Cycle (CCC)	0.00	-375.27	-535.27	-700.27	-498.93	-515.18	-494.11	-288.48	-307.52	-250.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	40	135	252	458	376	346	462	527	526	474
Invested Capital Turnover	0.02	0.08	0.09	0.07	0.09	0.10	0.11	0.10	0.09	0.09
Increase / (Decrease) in Invested Capital	0.00	95	118	206	-82	-30	116	64	-0.71	-52
Enterprise Value (EV)	0.00	0.00	0.00	0.00	0.00	0.00	341	440	432	428
Market Capitalization	0.00	0.00	0.00	0.00	0.00	0.00	73	96	142	144
Book Value per Share	$183.54	$18.20	$8.94	$13.72	$5.52	$22.25	$21.34	$19.03	$19.71	$15.84
Tangible Book Value per Share	$182.31	$18.05	$8.89	$9.41	$4.55	$19.92	$21.09	$18.86	$19.58	$15.73
Total Capital	40	153	243	475	394	415	446	514	502	471
Total Debt	17	74	134	221	204	193	205	288	288	269
Total Long-Term Debt	17	74	134	216	204	193	205	288	288	269
Net Debt	10	55	111	204	186	124	187	264	267	245
Capital Expenditures (CapEx)	33	100	87	26	0.00	-23	-71	-35	-15	-27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.12	-0.00	-6.91	-9.69	-5.39	-5.99	7.48	13	17	22
Debt-free Net Working Capital (DFNWC)	3.79	4.18	1.84	-2.75	2.99	52	16	16	29	36
Net Working Capital (NWC)	3.79	4.18	1.84	-7.55	2.99	52	16	16	29	36
Net Nonoperating Expense (NNE)	0.43	0.12	4.27	1.11	15	-0.64	7.96	11	15	15
Net Nonoperating Obligations (NNO)	17	55	143	204	186	124	221	301	312	272
Total Depreciation and Amortization (D&A)	0.59	3.40	7.62	10.00	16	15	17	16	17	18
Debt-free, Cash-free Net Working Capital to Revenue	13.51%	-0.02%	-38.44%	-39.46%	-13.94%	-15.81%	17.07%	26.47%	36.61%	46.55%
Debt-free Net Working Capital to Revenue	440.24%	56.58%	10.24%	-11.20%	7.74%	138.35%	36.72%	33.09%	61.26%	77.55%
Net Working Capital to Revenue	440.24%	56.58%	10.24%	-30.75%	7.74%	138.35%	36.72%	33.09%	61.26%	77.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.89)	($0.15)	($0.16)	($0.29)	($6.14)	($0.20)	($0.93)	($1.36)	$0.25	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	4.35M	10.04M	13.82M	23.98M	7.72M	7.54M	7.49M	7.56M	9.29M	10.14M
Adjusted Diluted Earnings per Share	($2.89)	($0.15)	($0.16)	($0.29)	($6.14)	($0.20)	($0.93)	($1.36)	$0.25	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	4.35M	10.04M	13.82M	23.98M	7.72M	7.54M	7.49M	7.56M	11.19M	11.68M
Adjusted Basic & Diluted Earnings per Share	($2.89)	($0.15)	($0.16)	($0.29)	($6.14)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	428.26K	5.98M	11.07M	15.04M	8.01M	7.56M	7.55M	9.17M	9.97M	10.32M
Normalized Net Operating Profit after Tax (NOPAT)	-0.76	-0.75	2.47	-2.27	-9.76	1.28	8.49	6.10	13	13
Normalized NOPAT Margin	-88.23%	-10.18%	13.75%	-9.26%	-25.25%	3.39%	19.38%	12.91%	27.88%	28.84%
Pre Tax Income Margin	-143.60%	-11.75%	-10.02%	-17.99%	-127.18%	-1.15%	-10.29%	-18.41%	13.89%	1.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.63	-0.64	0.00	-0.10	0.51	0.29	1.36	0.94
NOPAT to Interest Expense	0.00	0.00	0.44	-0.45	0.00	-0.14	0.35	0.13	1.36	0.94
EBIT Less CapEx to Interest Expense	0.00	0.00	-14.98	-4.23	0.00	2.88	7.70	2.81	2.28	2.54
NOPAT Less CapEx to Interest Expense	0.00	0.00	-15.17	-4.03	0.00	2.83	7.54	2.65	2.28	2.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-3.73%	-84.19%	-91.92%	-90.99%	-10.21%	-797.55%	-245.43%	-136.20%	217.63%	2,871.84%
Augmented Payout Ratio	-63.17%	-604.92%	-657.42%	-404.90%	-48.43%	-5,505.03%	-362.25%	-149.18%	395.27%	2,871.84%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	7,544,609.00	7,590,138.00	9,172,755.00	9,453,005.00	9,494,401.00	-	9,966,527.00	10,119,017.00	10,158,304.00	10,274,997.00	10,319,480.00
DEI Adjusted Shares Outstanding	7,544,609.00	7,590,138.00	9,172,755.00	9,453,005.00	9,494,401.00	-	9,966,527.00	10,119,017.00	10,158,304.00	10,274,997.00	10,319,480.00
DEI Earnings Per Adjusted Shares Outstanding	-0.86	-0.29	0.31	0.04	-0.16	-	0.00	-0.28	0.02	0.04	-0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.96%	-10.26%	15.32%	-4.14%	-7.25%	-5.31%	-1.45%	3.71%	0.27%	-5.58%	-0.76%
EBITDA Growth	-104.31%	0.34%	308.49%	-3.63%	2,221.13%	1.27%	-13.60%	-15.23%	-47.28%	26.44%	-14.89%
EBIT Growth	-162.00%	-4.79%	1,091.65%	22.30%	214.52%	11.07%	-28.65%	-77.10%	-1.12%	-2.50%	-11.23%
NOPAT Growth	-148.33%	-47.97%	1,521.12%	22.42%	203.84%	98.39%	-28.88%	-83.99%	41.25%	-4.78%	-37.86%
Net Income Growth	-255.15%	-355.54%	201.27%	-72.74%	84.82%	189.13%	-82.12%	-308.64%	202.77%	-21.99%	-135.59%
EPS Growth	-345.71%	-560.00%	153.23%	-91.43%	79.07%	130.43%	-103.03%	-1,166.67%	100.00%	-71.43%	-1,000.00%
Operating Cash Flow Growth	-7.75%	-26.68%	7.26%	4.57%	31.04%	0.69%	2.11%	-16.39%	-19.46%	-28.95%	34.56%
Free Cash Flow Firm Growth	83.76%	44.45%	-39.01%	-65.43%	144.88%	109.82%	83.75%	-113.97%	-135.10%	845.27%	398.65%
Invested Capital Growth	15.30%	13.89%	18.73%	-13.93%	-5.59%	-0.14%	3.28%	2.56%	3.27%	-9.90%	-6.25%
Revenue Q/Q Growth	5.58%	-1.42%	-3.40%	-4.65%	2.15%	0.64%	0.55%	0.34%	-1.23%	-5.25%	5.68%
EBITDA Q/Q Growth	-105.73%	2,070.10%	13.20%	-24.61%	26.16%	13.59%	-9.82%	-9.15%	-21.54%	141.62%	-39.30%
EBIT Q/Q Growth	-202.82%	212.60%	37.81%	-23.35%	-3.71%	9.19%	-9.01%	-75.40%	315.79%	4.77%	-17.16%
NOPAT Q/Q Growth	-179.38%	181.35%	147.87%	-23.52%	-32.67%	55.39%	-11.14%	-82.78%	493.99%	4.77%	-42.01%
Net Income Q/Q Growth	-249.14%	73.33%	351.77%	-72.78%	-183.04%	256.69%	-49.51%	-417.61%	140.90%	18.94%	-123.03%
EPS Q/Q Growth	-345.71%	73.26%	243.48%	-90.91%	-700.00%	138.89%	-114.29%	-3,100.00%	100.00%	0.00%	-650.00%
Operating Cash Flow Q/Q Growth	-12.95%	36.92%	-44.36%	57.68%	9.09%	5.22%	-43.58%	29.11%	5.08%	-7.18%	6.85%
Free Cash Flow Firm Q/Q Growth	-129.48%	17.72%	-20.92%	217.87%	-61.73%	-82.00%	-300.11%	-1.28%	3.81%	584.88%	-36.77%
Invested Capital Q/Q Growth	-9.17%	-2.28%	-2.40%	-0.64%	-0.38%	3.37%	0.94%	-1.33%	0.31%	-9.81%	5.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	90.49%	94.10%	91.78%	93.92%	91.21%	92.24%	92.83%	93.00%	92.16%	92.14%	92.27%
EBITDA Margin	-3.92%	78.36%	91.83%	72.61%	89.68%	83.81%	80.51%	59.35%	47.15%	120.22%	69.05%
Operating Margin	-37.54%	30.98%	55.64%	44.64%	42.03%	45.44%	40.16%	9.85%	41.45%	45.83%	35.92%
EBIT Margin	-34.04%	38.88%	55.47%	44.59%	42.03%	45.61%	40.16%	9.85%	41.45%	45.83%	35.92%
Profit (Net Income) Margin	-54.95%	-14.87%	38.75%	11.06%	-8.99%	14.00%	7.03%	-22.25%	9.22%	11.57%	-2.52%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	161.42%	-38.24%	69.86%	24.80%	-21.39%	30.68%	17.50%	-226.01%	22.23%	25.24%	-7.02%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-2.54%	2.07%	5.74%	3.91%	2.66%	4.04%	3.58%	0.63%	3.77%	4.25%	2.26%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.91%	0.34%	4.90%	2.71%	1.16%	2.84%	2.29%	-0.52%	2.55%	2.95%	1.22%
Return on Net Nonoperating Assets (RNNOA)	-4.27%	0.38%	5.14%	3.71%	1.55%	3.96%	3.12%	-0.72%	3.78%	4.14%	1.82%
Return on Equity (ROE)	-6.81%	2.45%	10.88%	7.62%	4.21%	8.00%	6.70%	-0.10%	7.55%	8.39%	4.09%
Cash Return on Invested Capital (CROIC)	-13.66%	-12.62%	-15.03%	16.35%	9.67%	4.31%	0.62%	-0.34%	-0.11%	13.58%	8.53%
Operating Return on Assets (OROA)	-3.31%	3.73%	5.49%	4.03%	3.81%	4.11%	3.64%	0.91%	3.87%	4.32%	3.36%
Return on Assets (ROA)	-5.34%	-1.43%	3.83%	1.00%	-0.81%	1.26%	0.64%	-2.05%	0.86%	1.09%	-0.24%
Return on Common Equity (ROCE)	-4.47%	1.60%	8.05%	5.59%	3.19%	6.09%	5.45%	-0.08%	6.37%	7.12%	3.29%
Return on Equity Simple (ROE_SIMPLE)	-3.96%	0.00%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.30	2.69	6.66	5.09	3.43	5.33	4.74	0.82	4.84	5.08	2.94
NOPAT Margin	-26.28%	21.69%	55.64%	44.64%	29.42%	45.44%	40.16%	6.89%	41.45%	45.83%	25.15%
Net Nonoperating Expense Percent (NNEP)	1.37%	1.73%	0.83%	1.20%	1.50%	1.20%	1.30%	1.14%	1.22%	1.30%	1.05%
Return On Investment Capital (ROIC_SIMPLE)	-	0.52%	1.29%	0.99%	0.69%	1.06%	0.95%	0.17%	0.98%	1.08%	0.62%
Cost of Revenue to Revenue	9.51%	5.90%	8.22%	6.08%	8.79%	7.76%	7.17%	7.00%	7.84%	7.86%	7.73%
SG&A Expenses to Revenue	13.81%	11.32%	16.70%	12.44%	14.25%	10.75%	16.90%	10.16%	11.72%	11.25%	12.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	128.03%	63.12%	36.13%	49.28%	49.17%	46.80%	52.67%	83.16%	50.71%	46.32%	56.34%
Earnings before Interest and Taxes (EBIT)	-4.28	4.82	6.64	5.09	4.90	5.35	4.74	1.17	4.84	5.08	4.20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.49	9.71	11	8.29	10	9.83	9.50	7.02	5.51	13	8.08
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.69	0.66	0.76	0.66	0.79	0.74	0.86	0.85	0.90	0.89	0.92
Price to Tangible Book Value (P/TBV)	0.70	0.67	0.76	0.66	0.79	0.75	0.86	0.86	0.90	0.89	0.93
Price to Revenue (P/Rev)	2.20	2.02	2.91	2.55	3.09	3.03	3.15	3.01	3.14	3.11	3.17
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	60.79	0.00	0.00	0.00	0.00	0.00
Dividend Yield	8.10%	9.14%	15.25%	18.13%	15.29%	16.09%	7.84%	8.29%	8.01%	8.35%	8.27%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	1.64%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.84	0.86	0.83	0.87	0.82	0.87	0.87	0.87	0.90	0.93
Enterprise Value to Revenue (EV/Rev)	9.38	9.32	9.06	8.72	9.36	9.25	9.90	9.66	9.71	9.23	9.96
Enterprise Value to EBITDA (EV/EBITDA)	22.30	21.47	15.36	14.79	11.25	11.11	11.86	13.20	15.51	12.75	14.33
Enterprise Value to EBIT (EV/EBIT)	106.83	109.25	39.02	34.36	20.70	19.67	23.00	28.12	28.38	27.06	30.15
Enterprise Value to NOPAT (EV/NOPAT)	165.63	240.89	44.51	55.38	21.66	19.67	23.00	40.24	28.43	27.06	43.07
Enterprise Value to Operating Cash Flow (EV/OCF)	24.63	26.56	26.36	24.81	24.38	23.71	25.20	25.91	27.64	28.60	28.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	4.67	8.77	19.05	142.95	0.00	0.00	6.31	10.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.22	1.28	1.26	1.28	1.36	1.34	1.35	1.39	1.40	1.33	1.42
Long-Term Debt to Equity	1.22	1.28	1.26	1.28	1.36	1.34	1.35	1.39	1.40	1.33	1.42
Financial Leverage	1.09	1.12	1.05	1.37	1.33	1.40	1.37	1.39	1.48	1.40	1.50
Leverage Ratio	2.08	2.11	2.14	2.29	2.32	2.37	2.33	2.36	2.42	2.37	2.41
Compound Leverage Factor	3.36	-0.81	1.49	0.57	-0.50	0.73	0.41	-5.33	0.54	0.60	-0.17
Debt to Total Capital	55.02%	56.16%	55.80%	56.07%	57.62%	57.34%	57.40%	58.21%	58.36%	57.07%	58.64%
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%	0.00%
Long-Term Debt to Total Capital	55.02%	56.16%	55.80%	56.07%	57.62%	57.34%	57.40%	58.21%	58.36%	57.07%	58.64%
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%	0.00%
Noncontrolling Interests to Total Capital	15.75%	15.71%	7.81%	7.54%	5.10%	4.76%	8.44%	8.23%	8.13%	8.35%	8.03%
Common Equity to Total Capital	29.23%	28.13%	36.39%	36.39%	37.28%	37.89%	34.16%	33.56%	33.51%	34.58%	33.33%
Debt to EBITDA	14.25	14.07	10.01	10.11	7.30	7.39	7.39	8.35	9.74	8.00	8.71
Net Debt to EBITDA	12.99	12.88	9.03	9.11	6.89	6.86	7.00	7.91	9.14	7.29	8.57
Long-Term Debt to EBITDA	14.25	14.07	10.01	10.11	7.30	7.39	7.39	8.35	9.74	8.00	8.71
Debt to NOPAT	105.83	157.80	29.00	37.85	14.05	13.09	14.33	25.44	17.86	16.98	26.19
Net Debt to NOPAT	96.47	144.49	26.16	34.11	13.26	12.14	13.57	24.11	16.75	15.47	25.76
Long-Term Debt to NOPAT	105.83	157.80	29.00	37.85	14.05	13.09	14.33	25.44	17.86	16.98	26.19
Altman Z-Score	-0.04	-0.04	0.11	0.06	0.06	0.06	0.05	0.00	0.03	0.04	0.00
Noncontrolling Interest Sharing Ratio	34.34%	34.75%	26.05%	26.64%	24.21%	23.81%	18.70%	18.37%	15.72%	15.19%	19.62%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.44	4.50	9.89	10.77	5.54	8.10	7.51	8.75	5.77	10.39	7.36
Quick Ratio	1.89	3.56	8.56	9.37	4.86	7.43	6.77	7.99	5.34	9.87	6.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-75	-62	-74	88	34	6.04	-12	-12	-12	57	36
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-25.59	-8.74	-32.26	21.38	5.50	1.63	-2.99	-3.05	-2.91	11.91	7.92
Operating Cash Flow to Interest Expense	1.34	0.76	1.29	1.15	0.84	1.46	0.75	0.98	1.02	0.80	0.90
Operating Cash Flow Less CapEx to Interest Expense	13.23	0.76	7.70	1.15	0.88	1.46	1.33	0.98	1.02	0.80	1.69
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Accounts Receivable Turnover	4.95	4.71	4.21	3.79	3.32	2.99	2.73	2.55	2.38	2.21	2.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.10	0.10	0.11	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Accounts Payable Turnover	0.64	1.00	0.79	0.67	0.49	0.85	0.91	1.02	0.66	0.88	0.87
Days Sales Outstanding (DSO)	73.69	77.50	86.76	96.41	110.07	121.98	133.68	143.19	153.31	164.83	174.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	567.35	365.98	460.16	543.99	737.59	429.50	402.02	357.07	556.65	414.90	418.26
Cash Conversion Cycle (CCC)	-493.66	-288.48	-373.40	-447.58	-627.52	-307.52	-268.33	-213.87	-403.34	-250.07	-244.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	539	527	514	511	509	526	531	524	525	474	498
Invested Capital Turnover	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Increase / (Decrease) in Invested Capital	71	64	81	-83	-30	-0.71	17	13	17	-52	-33
Enterprise Value (EV)	456	440	442	421	444	432	461	454	457	428	461
Market Capitalization	107	96	142	123	147	142	147	142	148	144	147
Book Value per Share	$20.53	$19.03	$20.50	$19.78	$19.62	$19.71	$17.17	$16.37	$16.22	$15.84	$15.44
Tangible Book Value per Share	$20.35	$18.86	$20.35	$19.64	$19.49	$19.58	$17.05	$16.25	$16.11	$15.73	$15.33
Total Capital	530	514	517	514	500	502	501	493	492	471	478
Total Debt	292	288	288	288	288	288	288	287	287	269	280
Total Long-Term Debt	292	288	288	288	288	288	288	287	287	269	280
Net Debt	266	264	260	260	272	267	272	272	269	245	276
Capital Expenditures (CapEx)	-35	-0.00	-15	0.00	-0.24	-0.00	-2.33	0.00	0.00	0.00	-3.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7.20	13	16	18	16	17	19	20	19	22	23
Debt-free Net Working Capital (DFNWC)	13	16	34	36	23	29	25	26	27	36	27
Net Working Capital (NWC)	13	16	34	36	23	29	25	26	27	36	27
Net Nonoperating Expense (NNE)	3.60	4.53	2.02	3.83	4.48	3.69	3.91	3.45	3.77	3.79	3.24
Net Nonoperating Obligations (NNO)	300	301	286	285	297	312	317	317	321	272	300
Total Depreciation and Amortization (D&A)	3.79	4.89	4.35	3.20	5.55	4.48	4.76	5.86	0.67	8.24	3.88
Debt-free, Cash-free Net Working Capital to Revenue	14.80%	26.47%	32.42%	36.34%	33.33%	36.61%	39.90%	42.55%	40.11%	46.55%	48.91%
Debt-free Net Working Capital to Revenue	26.39%	33.09%	70.11%	75.39%	47.72%	61.26%	53.14%	54.91%	57.68%	77.55%	58.58%
Net Working Capital to Revenue	26.39%	33.09%	70.11%	75.39%	47.72%	61.26%	53.14%	54.91%	57.68%	77.55%	58.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.86)	($0.29)	$0.33	$0.04	($0.18)	$0.06	($0.01)	($0.32)	$0.00	$0.02	($0.11)
Adjusted Weighted Average Basic Shares Outstanding	7.55M	7.56M	8.57M	9.44M	9.43M	9.29M	9.97M	10.12M	10.20M	10.14M	10.31M
Adjusted Diluted Earnings per Share	($0.86)	($0.23)	$0.33	$0.03	($0.18)	$0.07	($0.01)	($0.32)	$0.00	$0.02	($0.11)
Adjusted Weighted Average Diluted Shares Outstanding	7.55M	9.09M	11.36M	11.42M	10.96M	11.19M	11.32M	11.72M	11.79M	11.68M	11.91M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	7.59M	9.17M	9.45M	9.49M	9.65M	9.97M	10.12M	10.16M	10.27M	10.32M	10.32M
Normalized Net Operating Profit after Tax (NOPAT)	-2.11	3.31	2.43	3.57	3.31	3.73	3.26	3.62	3.39	1.85	2.94
Normalized NOPAT Margin	-16.76%	26.71%	20.30%	31.25%	28.39%	31.81%	27.61%	30.55%	29.01%	16.68%	25.15%
Pre Tax Income Margin	-54.95%	-14.87%	38.75%	11.06%	-8.99%	14.00%	7.03%	-22.25%	9.22%	11.57%	-2.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.46	0.68	2.88	1.24	0.80	1.44	1.17	0.29	1.19	1.06	0.92
NOPAT to Interest Expense	-1.13	0.38	2.89	1.24	0.56	1.44	1.17	0.20	1.19	1.06	0.65
EBIT Less CapEx to Interest Expense	10.42	0.68	9.29	1.24	0.84	1.44	1.75	0.29	1.19	1.06	1.71
NOPAT Less CapEx to Interest Expense	10.75	0.38	9.29	1.24	0.60	1.44	1.75	0.20	1.19	1.06	1.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-189.76%	-136.20%	2,357.82%	-455.18%	451.32%	217.63%	544.25%	-1,237.44%	1,681.09%	2,871.84%	-2,887.54%
Augmented Payout Ratio	-211.88%	-149.18%	2,357.82%	-455.18%	834.60%	395.27%	544.25%	-1,237.44%	1,681.09%	2,871.84%	-2,887.54%

Financials Breakdown Chart

Modiv Industrial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Modiv Industrial's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Modiv Industrial's net income appears to be on a downward trend, with a most recent value of $554 thousand in 2025, falling from -$1.24 million in 2016. The previous period was $6.49 million in 2024. See where experts think Modiv Industrial is headed by visiting Modiv Industrial's forecast page.

Modiv Industrial's total operating income in 2025 was $15.82 million, based on the following breakdown:

Total Gross Profit: $42.93 million
Total Operating Expenses: $27.11 million

Over the last 9 years, Modiv Industrial's total revenue changed from $861.74 thousand in 2016 to $46.39 million in 2025, a change of 5,282.9%.

Modiv Industrial's total liabilities were at $274.41 million at the end of 2025, a 6.6% decrease from 2024, and a 3,920,071.4% increase since 2015.

In the past 10 years, Modiv Industrial's cash and equivalents has ranged from $200.82 thousand in 2015 to $55.97 million in 2021, and is currently $14.38 million as of their latest financial filing in 2025.

Over the last 9 years, Modiv Industrial's book value per share changed from 183.54 in 2016 to 15.84 in 2025, a change of -91.4%.

Related Companies

Financial statements for NYSE:MDV last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Modiv Industrial (MDV) Financials

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Modiv Industrial (MDV) Financials

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