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Stag Industrial (STAG) Financials

Stag Industrial logo
$38.24 -0.30 (-0.77%)
Closing price 07/31/2026 03:59 PM Eastern
Extended Trading
$38.19 -0.05 (-0.14%)
As of 07/31/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Stag Industrial

Annual Income Statements for Stag Industrial

This table shows Stag Industrial'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 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
Net Income / (Loss) Attributable to Common Shareholders		 -39 20 21 82 44 197 188 178 193 189 273
Consolidated Net Income / (Loss)		 -29 36 32 96 51 207 196 182 197 193 279
Net Income / (Loss) Continuing Operations		 -29 36 32 96 51 207 196 182 197 193 279
Total Pre-Tax Income 		-29 36 32 96 51 207 196 182 197 193 279
Total Operating Income		 1.76 20 50 73 98 132 164 204 238 263 317
Total Gross Profit		 176 201 243 282 331 394 454 532 568 613 673
Total Revenue		 219 250 301 351 406 483 562 657 708 767 845
Operating Revenue		 218 250 301 351 406 483 562 657 708 767 845
Total Cost of Revenue		 43 49 58 69 75 89 108 126 140 155 172
Operating Cost of Revenue		 43 49 58 69 75 89 108 126 140 155 172
Total Operating Expenses		 174 181 193 209 233 262 290 328 331 350 356
Selling, General & Admin Expense		 30 35 35 35 38 42 52 51 52 52 54
Depreciation Expense		 110 125 151 168 185 215 239 275 278 293 302
Impairment Charge		 29 17 1.88 6.18 9.76 5.58 0.00 1.78 0.00 4.97 0.89
Total Other Income / (Expense), net		 -31 16 -18 23 -47 75 32 -21 -40 -70 -38
Interest Expense		 36 46 42 49 55 63 66 79 95 114 134
Interest & Investment Income		 0.01 0.01 0.01 0.02 0.09 0.45 0.12 0.10 0.07 0.04 0.39
Other Income / (Expense), net		 4.99 62 24 72 7.39 138 98 57 54 44 96
Net Income / (Loss) Attributable to Noncontrolling Interest		 -1.58 1.45 1.28 3.60 1.70 4.92 4.39 4.15 4.57 4.23 5.92
Basic Earnings per Share		 ($0.58) $0.29 $0.24 $0.80 $0.35 $1.32 $1.15 $1.00 $1.07 $1.04 $1.46
Weighted Average Basic Shares Outstanding		 66.31M 70.64M 89.54M 103.40M 125.39M 148.79M 163.44M 178.75M 180.22M 182.16M 186.84M
Diluted Earnings per Share		 ($0.58) $0.29 $0.23 $0.79 $0.35 $1.32 $1.15 $1.00 $1.07 $1.04 $1.46
Weighted Average Diluted Shares Outstanding		 66.31M 70.85M 90.00M 103.81M 125.68M 149.22M 164.09M 178.94M 180.56M 182.40M 187.17M
Weighted Average Basic & Diluted Shares Outstanding		 66.31M 82.05M 97.23M 112.50M 148.69M 158.40M 177.95M 179.33M 181.78M 186.56M 191.04M
Cash Dividends to Common per Share		 - - - $1.42 $1.43 $1.44 $1.45 - $1.47 $1.48 $1.49

Quarterly Income Statements for Stag Industrial

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 42 37 60 42 51 91 50 49 83 62 53
Consolidated Net Income / (Loss)		 43 37 61 43 52 93 51 50 85 63 54
Net Income / (Loss) Continuing Operations		 43 37 61 43 52 93 51 50 85 63 54
Total Pre-Tax Income 		43 37 61 43 52 93 51 50 85 63 54
Total Operating Income		 63 64 60 68 72 74 79 79 85 84 83
Total Gross Profit		 147 148 152 153 159 162 167 169 175 177 179
Total Revenue		 183 188 190 191 199 206 208 211 221 224 224
Operating Revenue		 183 188 190 191 199 206 208 211 221 224 224
Total Cost of Revenue		 37 39 37 38 40 44 40 42 46 47 45
Operating Cost of Revenue		 37 39 37 38 40 44 40 42 46 47 45
Total Operating Expenses		 83 85 93 85 87 88 88 90 90 93 96
Selling, General & Admin Expense		 12 14 12 13 13 14 13 13 14 14 14
Depreciation Expense		 71 71 75 73 74 74 74 76 77 79 82
Other Operating Expenses / (Income)		 - - 0.00 0.04 - - -0.06 1.50 - - 0.46
Impairment Charge		 - - 4.97 0.00 - - 0.89 0.00 - - 0.00
Total Other Income / (Expense), net		 -21 -26 1.45 -25 -20 19 -28 -31 1.61 -21 -29
Interest Expense		 25 26 27 29 32 33 34 32 36 36 37
Interest & Investment Income		 0.02 0.01 0.01 0.01 0.01 0.01 0.00 0.37 0.01 0.10 0.07
Other Income / (Expense), net		 4.76 0.00 29 3.76 12 52 5.69 2.20 36 15 8.35
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.95 0.87 1.34 0.92 1.10 2.02 1.10 1.06 1.74 1.35 1.14
Basic Earnings per Share		 $0.22 $0.20 $0.33 $0.23 $0.28 $0.49 $0.27 $0.26 $0.44 $0.32 $0.28
Weighted Average Basic Shares Outstanding		 180.22M 181.71M 181.96M 182.03M 182.16M 186.47M 186.54M 186.59M 186.84M 191.00M 191.18M
Diluted Earnings per Share		 $0.22 $0.20 $0.33 $0.23 $0.28 $0.49 $0.27 $0.26 $0.44 $0.32 $0.28
Weighted Average Diluted Shares Outstanding		 180.56M 181.99M 182.19M 182.30M 182.40M 186.76M 186.91M 186.84M 187.17M 191.24M 191.33M
Weighted Average Basic & Diluted Shares Outstanding		 181.78M 182.08M 182.11M 182.21M 186.56M 186.62M 186.70M 186.75M 191.04M 191.21M 192.81M

Annual Cash Flow Statements for Stag Industrial

This table details how cash moves in and out of Stag Industrial'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 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
Net Change in Cash & Equivalents		 -12 1.40 6.32 -5.59 -11 8.48 2.86 3.59 -4.92 16 63
Net Cash From Operating Activities		 122 136 162 198 233 294 336 388 391 460 463
Net Cash From Continuing Operating Activities		 122 136 162 198 233 294 336 388 391 460 463
Net Income / (Loss) Continuing Operations		 -29 36 32 96 51 207 196 182 197 193 279
Consolidated Net Income / (Loss)		 -29 36 32 96 51 207 196 182 197 193 279
Depreciation Expense		 110 125 151 168 185 215 239 275 278 293 302
Amortization Expense		 8.53 6.21 4.58 4.16 4.86 4.34 2.05 -0.35 -0.89 -0.60 -2.54
Non-Cash Adjustments To Reconcile Net Income		 30 -32 -19 -55 15 -129 -97 -57 -55 -37 -96
Changes in Operating Assets and Liabilities, net		 2.09 0.71 -6.86 -15 -22 -3.00 -3.67 -12 -28 12 -19
Net Cash From Investing Activities		 -372 -346 -572 -507 -1,223 -555 -1,220 -448 -320 -731 -497
Net Cash From Continuing Investing Activities		 -372 -346 -572 -507 -1,223 -555 -1,220 -448 -320 -731 -497
Purchase of Property, Plant & Equipment		 -17 -30 -46 -35 -65 -56 -40 -112 -108 -150 -205
Acquisitions		 -84 -90 -95 -116 -205 -111 -159 -50 -15 -82 -59
Purchase of Investments		 -292 -378 -497 -565 -995 -662 -1,211 -422 -304 -625 -398
Sale of Property, Plant & Equipment		 22 152 65 208 42 274 188 135 106 126 164
Other Investing Activities, net		 -1.45 0.00 1.80 0.24 0.00 0.78 1.02 0.45 0.51 0.00 0.00
Net Cash From Financing Activities		 238 212 416 304 979 269 887 63 -76 286 97
Net Cash From Continuing Financing Activities		 238 212 416 304 979 269 887 63 -76 286 97
Repayment of Debt		 -400 -615 -541 -1,071 -1,526 -1,258 -3,613 -1,786 -1,044 -2,032 -1,776
Payment of Dividends		 -106 -117 -141 -159 -190 -224 -246 -267 -268 -274 -282
Issuance of Debt		 671 663 678 1,220 1,843 1,314 4,115 2,063 1,167 2,426 1,999
Issuance of Common Equity		 75 283 422 386 852 438 707 55 69 167 157
Other Financing Activities, net		 0.00 0.00 -0.97 -1.52 -1.60 -1.50 -1.34 -1.60 -0.81 -1.05 -0.65
Cash Interest Paid		 32 39 41 46 51 59 58 74 90 109 128

Quarterly Cash Flow Statements for Stag Industrial

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 9.84 -8.78 21 37 -34 11 -12 -17 82 -62 27
Net Cash From Operating Activities		 92 105 122 128 105 104 112 144 104 117 111
Net Cash From Continuing Operating Activities		 92 105 122 128 105 104 112 144 104 117 111
Net Income / (Loss) Continuing Operations		 43 37 61 43 52 93 51 50 85 63 54
Consolidated Net Income / (Loss)		 43 37 61 43 52 93 51 50 85 63 54
Depreciation Expense		 71 71 75 73 74 74 74 76 77 79 82
Amortization Expense		 -0.40 -0.30 0.84 -0.53 -0.60 -0.58 -0.64 -0.67 -0.64 -0.51 -0.33
Non-Cash Adjustments To Reconcile Net Income		 -4.53 1.13 -27 -3.46 -10 -51 -5.15 -3.74 -36 -17 -10
Changes in Operating Assets and Liabilities, net		 -17 -4.55 12 17 -9.95 -12 -7.87 22 -22 -7.16 -15
Net Cash From Investing Activities		 -87 -76 -171 -143 -341 -25 -65 -147 -260 -92 -316
Net Cash From Continuing Investing Activities		 -87 -76 -171 -143 -341 -25 -65 -147 -260 -92 -316
Purchase of Property, Plant & Equipment		 -30 -25 -17 -41 -67 -46 -50 -48 -61 -41 -32
Acquisitions		 0.17 -8.04 -23 -16 -35 -5.69 -2.72 -12 -38 -11 -42
Sale of Property, Plant & Equipment		 8.37 0.00 76 22 29 64 8.76 5.73 86 30 22
Other Investing Activities, net		 - -44 - - - - -21 -92 150 -69 -265
Net Cash From Financing Activities		 5.45 -38 71 52 202 -68 -59 -14 238 -87 233
Net Cash From Continuing Financing Activities		 5.45 -38 71 52 202 -68 -59 -14 238 -87 233
Repayment of Debt		 -128 -232 -676 -293 -830 -486 -757 -164 -369 -230 -560
Payment of Dividends		 -68 -69 -69 -68 -69 -70 -70 -71 -71 -24 -76
Issuance of Debt		 202 264 816 413 933 489 768 221 521 168 809
Cash Interest Paid		 28 23 27 18 43 20 44 14 49 15 55

Annual Balance Sheets for Stag Industrial

This table presents Stag 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		 1,902 2,186 2,681 3,103 4,165 4,693 5,833 6,185 6,283 6,833 7,208
Total Current Assets		 60 68 87 102 108 142 117 214 231 270 362
Cash & Equivalents		 12 12 25 7.97 9.04 16 19 26 21 36 15
Restricted Cash		 8.40 9.61 3.57 15 2.82 4.67 4.22 0.91 1.13 1.11 86
Accounts Receivable		 21 25 34 42 58 78 94 116 128 136 156
Prepaid Expenses		 18 21 25 37 38 43 - 72 80 96 104
Plant, Property, & Equipment, net		 1,840 2,117 2,568 2,992 3,999 4,525 5,621 5,863 5,973 6,496 6,800
Plant, Property & Equipment, gross		 1,564 1,822 2,254 2,650 3,523 4,025 5,053 5,354 5,537 6,067 6,405
Accumulated Depreciation		 -276 -295 -313 -342 -475 -500 -568 -509 -436 -429 -395
Total Noncurrent Assets		 1.87 1.47 26 9.15 58 26 96 108 80 68 46
Noncurrent Note & Lease Receivables		 - - - 0.00 15 25 - 31 30 31 33
Other Noncurrent Operating Assets		 1.87 1.47 26 9.15 43 0.44 96 77 50 36 14
Total Liabilities & Shareholders' Equity		 1,902 2,186 2,681 3,103 4,165 4,693 5,833 6,185 6,283 6,833 7,208
Total Liabilities		 1,044 1,119 1,270 1,433 1,801 1,922 2,440 2,727 2,838 3,304 3,537
Total Current Liabilities		 108 91 346 186 258 265 153 336 552 615 482
Short-Term Debt		 60 30 272 105 165 148 17 175 402 409 263
Accounts Payable		 26 35 43 46 54 70 76 97 83 127 135
Customer Deposits		 15 15 19 22 22 28 37 41 44 56 59
Dividends Payable		 8.23 9.73 12 14 17 19 22 22 23 23 24
Total Noncurrent Liabilities		 936 1,028 924 1,247 1,543 1,657 2,287 2,391 2,286 2,689 3,055
Long-Term Debt		 924 1,008 903 1,225 1,499 1,596 2,218 2,324 2,222 2,620 2,992
Capital Lease Obligations		 - - - 0.00 17 28 - 35 34 35 37
Other Noncurrent Operating Liabilities		 11 20 21 22 27 33 69 32 30 33 26
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		 858 1,067 1,410 1,670 2,364 2,771 3,394 3,458 3,446 3,529 3,671
Total Preferred & Common Equity		 822 1,027 1,359 1,614 2,306 2,716 3,328 3,385 3,375 3,458 3,596
Preferred Stock		 139 145 145 75 75 75 - 0.00 0.00 0.00 0.00
Total Common Equity		 683 882 1,214 1,539 2,231 2,641 3,328 3,385 3,375 3,458 3,596
Common Stock		 1,018 1,295 1,727 2,119 2,972 3,423 4,132 4,190 4,274 4,452 4,619
Retained Earnings		 -332 -411 -517 -585 -723 -742 -792 -876 -949 -1,030 -1,035
Accumulated Other Comprehensive Income / (Loss)		 -2.35 -1.50 3.94 4.48 -18 -40 -12 71 49 36 12
Noncontrolling Interest		 35 40 51 56 58 55 66 73 71 71 75

Quarterly Balance Sheets for Stag Industrial

This table presents Stag 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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 6,116 6,106 6,276 6,294 6,444 6,566 6,848 6,825 6,897 7,184 7,477
Total Current Assets		 214 204 216 226 241 301 290 275 273 312 343
Cash & Equivalents		 17 14 11 12 33 70 9.33 15 17 8.86 66
Restricted Cash		 0.96 1.02 1.09 0.67 1.25 1.11 39 20 1.11 30 0.67
Accounts Receivable		 117 112 121 129 125 128 142 139 145 161 161
Prepaid Expenses		 79 77 84 84 81 102 100 100 110 111 115
Plant, Property, & Equipment, net		 5,812 5,800 5,953 5,981 6,120 6,208 6,501 6,500 6,571 6,817 7,069
Plant, Property & Equipment, gross		 5,329 5,336 5,495 5,559 5,699 5,794 6,088 6,107 6,189 6,433 6,668
Accumulated Depreciation		 -484 -464 -458 -422 -422 -414 -412 -393 -382 -383 -402
Total Noncurrent Assets		 90 103 107 87 83 57 57 50 53 55 65
Noncurrent Note & Lease Receivables		 31 31 30 29 29 28 31 30 30 32 32
Other Noncurrent Operating Assets		 59 72 77 58 55 29 26 20 23 23 33
Total Liabilities & Shareholders' Equity		 6,116 6,106 6,276 6,294 6,444 6,566 6,848 6,825 6,897 7,184 7,477
Total Liabilities		 2,685 2,662 2,781 2,871 3,029 3,202 3,304 3,304 3,397 3,519 3,768
Total Current Liabilities		 396 375 491 584 294 469 718 248 345 466 715
Short-Term Debt		 235 216 325 435 127 259 513 52 111 200 449
Accounts Payable		 94 92 101 80 99 140 121 118 155 128 130
Customer Deposits		 44 44 42 46 45 47 60 54 55 63 60
Dividends Payable		 22 23 23 23 23 23 24 24 24 76 76
Total Noncurrent Liabilities		 2,289 2,287 2,290 2,287 2,735 2,733 2,587 3,056 3,053 3,053 3,053
Long-Term Debt		 2,224 2,225 2,225 2,221 2,669 2,670 2,521 2,993 2,992 2,993 2,993
Capital Lease Obligations		 35 34 34 33 33 32 35 34 34 37 36
Other Noncurrent Operating Liabilities		 30 28 31 32 33 31 31 29 27 24 24
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		 3,431 3,444 3,495 3,423 3,415 3,364 3,544 3,521 3,500 3,664 3,709
Total Preferred & Common Equity		 3,353 3,367 3,420 3,352 3,344 3,296 3,467 3,445 3,425 3,586 3,631
Preferred Stock		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,353 3,367 3,420 3,352 3,344 3,296 3,467 3,445 3,425 3,586 3,631
Common Stock		 4,191 4,203 4,269 4,275 4,278 4,283 4,450 4,454 4,458 4,618 4,681
Retained Earnings		 -893 -907 -924 -980 -987 -1,013 -1,008 -1,027 -1,048 -1,047 -1,069
Accumulated Other Comprehensive Income / (Loss)		 55 70 75 56 53 25 25 18 15 15 19
Noncontrolling Interest		 78 77 75 72 71 69 77 76 75 79 78

Annual Metrics And Ratios for Stag Industrial

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

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
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 25.78% 14.46% 20.32% 16.58% 15.66% 19.08% 16.29% 16.93% 7.68% 8.41% 10.14%
EBITDA Growth		 9.25% 69.80% 7.83% 37.68% -6.72% 65.33% 2.88% 6.56% 6.27% 5.32% 18.72%
EBIT Growth		 -68.03% 1,112.37% -8.69% 94.28% -27.45% 156.14% -2.81% -0.37% 11.77% 5.27% 34.34%
NOPAT Growth		 -90.39% 1,520.27% 152.85% 44.46% 34.33% 34.55% 24.56% 24.11% 16.76% 10.68% 20.52%
Net Income Growth		 -526.36% 221.27% -9.52% 198.90% -47.36% 308.16% -5.01% -7.23% 8.21% -2.00% 44.50%
EPS Growth		 -107.14% 150.00% -20.69% 243.48% -55.70% 277.14% -12.88% -13.04% 7.00% -2.80% 40.38%
Operating Cash Flow Growth		 25.89% 11.57% 19.38% 22.01% 17.99% 25.95% 14.37% 15.40% 0.81% 17.69% 0.67%
Free Cash Flow Firm Growth		 95.56% -865.52% -74.42% 17.95% -175.66% 62.57% -156.04% 83.03% 177.26% -275.69% 104.51%
Invested Capital Growth		 1.47% 14.41% 22.72% 16.41% 35.43% 12.14% 23.90% 6.40% 1.95% 7.79% 4.67%
Revenue Q/Q Growth		 4.22% 3.15% 5.15% 3.55% 4.61% 4.04% 3.25% 3.58% 1.87% 2.13% 2.62%
EBITDA Q/Q Growth		 -7.31% 37.51% -7.80% 15.57% -5.52% 20.49% 0.15% -8.46% 3.24% 3.12% 6.09%
EBIT Q/Q Growth		 -67.07% 190.42% -25.54% 38.92% -20.44% 42.95% -2.87% -17.28% 5.74% 5.40% 9.95%
NOPAT Q/Q Growth		 -90.30% 765.52% 23.56% 8.52% 9.84% 4.98% 5.26% 4.31% 4.88% 3.52% 4.25%
Net Income Q/Q Growth		 -115.36% 329.76% -42.85% 66.19% -36.67% 63.50% -4.90% -24.04% 6.59% 5.10% 13.49%
EPS Q/Q Growth		 -286.67% 165.91% -37.84% 75.56% -44.44% 60.98% -8.73% -25.93% 4.90% 6.12% 12.31%
Operating Cash Flow Q/Q Growth		 1.14% 4.81% 2.65% 3.72% 4.14% 4.02% 3.62% 2.25% 0.39% 2.99% -0.10%
Free Cash Flow Firm Q/Q Growth		 95.38% -619.17% 13.18% -7.36% -46.28% -15.56% -15.55% 80.02% -11.18% -417.34% 115.63%
Invested Capital Q/Q Growth		 -8.81% 6.70% 3.07% 3.68% 11.55% 11.65% 12.07% -0.20% 0.24% 4.82% 3.69%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 80.50% 80.46% 80.84% 80.34% 81.48% 81.51% 80.79% 80.88% 80.28% 79.82% 79.67%
EBITDA Margin		 57.49% 85.28% 76.43% 90.26% 72.80% 101.07% 89.42% 81.49% 80.42% 78.13% 84.22%
Operating Margin		 0.80% 7.97% 16.74% 20.75% 24.10% 27.23% 29.17% 30.96% 33.57% 34.27% 37.50%
EBIT Margin		 3.08% 32.67% 24.80% 41.32% 25.92% 55.76% 46.60% 39.70% 41.21% 40.02% 48.81%
Profit (Net Income) Margin		 -13.42% 14.22% 10.69% 27.42% 12.48% 42.78% 34.94% 27.72% 27.86% 25.19% 33.04%
Tax Burden Percent		 100.00% 100.00% 100.05% 100.01% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 -435.13% 43.53% 43.11% 66.35% 48.15% 76.73% 74.99% 69.82% 67.60% 62.93% 67.69%
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)		 0.07% 1.02% 2.16% 2.62% 2.78% 3.06% 3.22% 3.50% 3.93% 4.15% 4.71%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.18% 2.58% 0.50% 4.51% -0.36% 7.41% 4.85% 2.61% 2.37% 1.70% 3.50%
Return on Net Nonoperating Assets (RNNOA)		 -3.42% 2.68% 0.44% 3.63% -0.27% 4.99% 3.15% 1.82% 1.78% 1.40% 3.05%
Return on Equity (ROE)		 -3.35% 3.70% 2.60% 6.25% 2.51% 8.05% 6.37% 5.32% 5.71% 5.54% 7.76%
Cash Return on Invested Capital (CROIC)		 -1.39% -12.43% -18.24% -12.55% -27.32% -8.38% -18.13% -2.69% 2.00% -3.35% 0.14%
Operating Return on Assets (OROA)		 0.38% 4.00% 3.07% 5.02% 2.90% 6.09% 4.98% 4.34% 4.68% 4.68% 5.88%
Return on Assets (ROA)		 -1.66% 1.74% 1.32% 3.33% 1.39% 4.67% 3.73% 3.03% 3.16% 2.95% 3.98%
Return on Common Equity (ROCE)		 -2.70% 3.01% 2.20% 5.59% 2.35% 7.64% 6.17% 5.21% 5.59% 5.43% 7.60%
Return on Equity Simple (ROE_SIMPLE)		 -3.57% 3.47% 2.37% 5.96% 2.20% 7.61% 5.90% 5.38% 5.84% 5.59% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.23 20 50 73 98 132 164 204 238 263 317
NOPAT Margin		 0.56% 7.97% 16.74% 20.75% 24.10% 27.23% 29.17% 30.96% 33.57% 34.27% 37.50%
Net Nonoperating Expense Percent (NNEP)		 3.25% -1.57% 1.67% -1.89% 3.14% -4.35% -1.62% 0.89% 1.56% 2.44% 1.20%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 3.40% 3.89% 3.99% 4.55%
Cost of Revenue to Revenue		 19.50% 19.54% 19.16% 19.66% 18.52% 18.49% 19.21% 19.12% 19.72% 20.18% 20.33%
SG&A Expenses to Revenue		 13.63% 13.80% 11.67% 10.07% 9.29% 8.71% 9.16% 7.81% 7.37% 6.72% 6.36%
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		 79.70% 72.49% 64.09% 59.59% 57.38% 54.28% 51.62% 49.92% 46.71% 45.55% 42.17%
Earnings before Interest and Taxes (EBIT)		 6.74 82 75 145 105 270 262 261 292 307 413
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 126 213 230 317 296 489 503 536 569 600 712
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.31 1.44 1.57 1.38 1.55 1.53 2.19 1.57 2.02 1.78 1.91
Price to Tangible Book Value (P/TBV)		 1.31 1.44 1.57 1.38 1.55 1.53 2.19 1.57 2.02 1.78 1.91
Price to Revenue (P/Rev)		 4.09 5.07 6.33 6.04 8.50 8.35 12.99 8.09 9.64 8.00 8.12
Price to Earnings (P/E)		 0.00 62.68 90.18 25.75 78.76 20.51 38.81 29.85 35.43 32.48 25.11
Dividend Yield		 11.23% 8.28% 6.94% 7.29% 5.51% 5.33% 3.37% 4.92% 3.91% 4.39% 4.05%
Earnings Yield		 0.00% 1.60% 1.11% 3.88% 1.27% 4.88% 2.58% 3.35% 2.82% 3.08% 3.98%
Enterprise Value to Invested Capital (EV/IC)		 1.11 1.18 1.26 1.19 1.30 1.30 1.70 1.32 1.56 1.40 1.47
Enterprise Value to Revenue (EV/Rev)		 9.30 9.87 10.79 10.14 12.94 12.24 17.04 12.01 13.47 12.04 11.99
Enterprise Value to EBITDA (EV/EBITDA)		 16.17 11.57 14.12 11.24 17.77 12.11 19.06 14.74 16.74 15.41 14.23
Enterprise Value to EBIT (EV/EBIT)		 301.43 30.21 43.52 24.54 49.92 21.95 36.58 30.25 32.67 30.08 24.56
Enterprise Value to NOPAT (EV/NOPAT)		 1,651.94 123.89 64.44 48.88 53.69 44.94 58.43 38.80 40.11 35.13 31.97
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.70 18.19 20.04 18.00 22.51 20.13 28.50 20.35 24.37 20.07 21.87
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 78.85 0.00 1,058.95
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.15 0.97 0.83 0.80 0.71 0.64 0.66 0.73 0.77 0.87 0.90
Long-Term Debt to Equity		 1.08 0.94 0.64 0.73 0.64 0.59 0.65 0.68 0.65 0.75 0.83
Financial Leverage		 1.08 1.04 0.88 0.81 0.75 0.67 0.65 0.70 0.75 0.82 0.87
Leverage Ratio		 2.02 2.12 1.96 1.88 1.80 1.72 1.71 1.75 1.81 1.88 1.95
Compound Leverage Factor		 -8.78 0.92 0.85 1.25 0.87 1.32 1.28 1.22 1.22 1.18 1.32
Debt to Total Capital		 53.42% 49.33% 45.45% 44.34% 41.56% 39.00% 39.71% 42.29% 43.54% 46.48% 47.28%
Short-Term Debt to Total Capital		 3.24% 1.45% 10.53% 3.48% 4.07% 3.25% 0.30% 2.92% 6.59% 6.20% 3.78%
Long-Term Debt to Total Capital		 50.18% 47.88% 34.92% 40.85% 37.48% 35.75% 39.41% 39.37% 36.96% 40.27% 43.50%
Preferred Equity to Total Capital		 7.55% 6.89% 5.61% 2.50% 1.85% 1.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.92% 1.89% 1.98% 1.86% 1.44% 1.21% 1.17% 1.22% 1.17% 1.08% 1.08%
Common Equity to Total Capital		 37.11% 41.89% 46.96% 51.30% 55.15% 58.14% 59.12% 56.49% 55.29% 52.44% 51.63%
Debt to EBITDA		 7.83 4.87 5.11 4.20 5.69 3.63 4.45 4.73 4.67 5.11 4.63
Net Debt to EBITDA		 7.67 4.76 4.98 4.13 5.65 3.58 4.40 4.68 4.63 5.05 4.48
Long-Term Debt to EBITDA		 7.35 4.72 3.92 3.87 5.13 3.32 4.41 4.40 3.96 4.43 4.26
Debt to NOPAT		 799.62 52.09 23.31 18.26 17.18 13.46 13.63 12.45 11.18 11.65 10.39
Net Debt to NOPAT		 783.04 50.99 22.75 17.95 17.06 13.31 13.49 12.32 11.09 11.51 10.07
Long-Term Debt to NOPAT		 751.05 50.56 17.91 16.83 15.50 12.34 13.53 11.59 9.49 10.10 9.56
Altman Z-Score		 0.37 0.64 0.72 0.86 1.04 1.30 1.84 1.19 1.44 1.10 1.25
Noncontrolling Interest Sharing Ratio		 19.48% 18.67% 15.39% 10.62% 6.55% 5.13% 3.18% 2.03% 2.09% 2.04% 2.04%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.55 0.75 0.25 0.55 0.42 0.54 0.77 0.64 0.42 0.44 0.75
Quick Ratio		 0.31 0.41 0.17 0.27 0.26 0.35 0.74 0.42 0.27 0.28 0.36
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -25 -244 -425 -349 -962 -360 -922 -156 121 -212 9.57
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 1,013.89% 0.00% 0.00% 0.00% 17,351.02% 1,920.60% 1,150.36%
Free Cash Flow to Firm to Interest Expense		 -0.70 -5.28 -10.01 -7.15 -17.60 -5.70 -14.04 -1.98 1.28 -1.86 0.07
Operating Cash Flow to Interest Expense		 3.37 2.94 3.82 4.05 4.27 4.65 5.12 4.92 4.14 4.04 3.47
Operating Cash Flow Less CapEx to Interest Expense		 3.52 5.57 4.27 7.60 3.85 8.10 7.38 5.22 4.11 3.83 3.17
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.12 0.12 0.12 0.11 0.11 0.11 0.11 0.11 0.12 0.12
Accounts Receivable Turnover		 11.41 10.72 10.24 9.26 8.13 7.14 6.56 6.29 5.81 5.80 5.77
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		 0.13 0.13 0.13 0.13 0.12 0.11 0.11 0.11 0.12 0.12 0.13
Accounts Payable Turnover		 1.81 1.60 1.47 1.56 1.52 1.45 1.48 1.45 1.55 1.47 1.31
Days Sales Outstanding (DSO)		 31.98 34.06 35.66 39.43 44.88 51.11 55.64 58.06 62.85 62.93 63.23
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)		 202.16 227.83 248.62 234.59 240.92 252.23 247.15 252.40 236.01 247.49 278.50
Cash Conversion Cycle (CCC)		 -170.18 -193.77 -212.96 -195.16 -196.04 -201.12 -191.51 -194.34 -173.15 -184.55 -215.27
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,830 2,093 2,569 2,991 4,050 4,542 5,628 5,988 6,104 6,580 6,887
Invested Capital Turnover		 0.12 0.13 0.13 0.13 0.12 0.11 0.11 0.11 0.12 0.12 0.13
Increase / (Decrease) in Invested Capital		 26 264 476 422 1,060 492 1,086 360 117 475 307
Enterprise Value (EV)		 2,033 2,470 3,249 3,560 5,253 5,916 9,581 7,896 9,531 9,239 10,132
Market Capitalization		 895 1,269 1,906 2,122 3,450 4,035 7,303 5,315 6,824 6,140 6,865
Book Value per Share		 $9.28 $11.67 $12.90 $14.13 $16.78 $17.70 $19.60 $18.89 $18.59 $18.98 $19.25
Tangible Book Value per Share		 $9.28 $11.67 $12.90 $14.13 $16.78 $17.70 $19.60 $18.89 $18.59 $18.98 $19.25
Total Capital		 1,842 2,106 2,585 3,000 4,045 4,543 5,629 5,992 6,103 6,594 6,964
Total Debt		 984 1,039 1,175 1,330 1,681 1,772 2,235 2,534 2,658 3,064 3,293
Total Long-Term Debt		 924 1,008 903 1,225 1,516 1,624 2,218 2,359 2,256 2,655 3,029
Net Debt		 964 1,017 1,147 1,307 1,669 1,752 2,212 2,507 2,636 3,027 3,192
Capital Expenditures (CapEx)		 -5.27 -122 -19 -173 23 -218 -148 -24 2.25 24 40
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.98 -14 -15 -2.28 2.63 4.28 -42 27 59 26 42
Debt-free Net Working Capital (DFNWC)		 11 7.54 13 20 14 25 -19 54 80 63 143
Net Working Capital (NWC)		 -48 -23 -259 -84 -150 -123 -36 -121 -322 -346 -120
Net Nonoperating Expense (NNE)		 31 -16 18 -23 47 -75 -32 21 40 70 38
Net Nonoperating Obligations (NNO)		 972 1,027 1,159 1,321 1,686 1,771 2,234 2,529 2,658 3,051 3,216
Total Depreciation and Amortization (D&A)		 119 132 155 172 190 219 241 275 278 292 299
Debt-free, Cash-free Net Working Capital to Revenue		 -4.11% -5.70% -5.04% -0.65% 0.65% 0.89% -7.46% 4.07% 8.28% 3.40% 4.99%
Debt-free Net Working Capital to Revenue		 5.23% 3.01% 4.30% 5.77% 3.57% 5.09% -3.33% 8.14% 11.37% 8.27% 16.92%
Net Working Capital to Revenue		 -22.11% -9.15% -86.11% -24.00% -37.03% -25.45% -6.36% -18.48% -45.42% -45.02% -14.23%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.61) $0.29 $0.24 $0.80 $0.35 $1.32 $1.15 $1.00 $1.07 $1.04 $1.46
Adjusted Weighted Average Basic Shares Outstanding		 68.18M 70.64M 89.54M 103.40M 125.39M 148.79M 163.44M 178.75M 180.22M 182.16M 186.84M
Adjusted Diluted Earnings per Share		 ($0.61) $0.29 $0.23 $0.79 $0.35 $1.32 $1.15 $1.00 $1.07 $1.04 $1.46
Adjusted Weighted Average Diluted Shares Outstanding		 68.18M 70.85M 90.00M 103.81M 125.68M 149.22M 164.09M 178.94M 180.56M 182.40M 187.17M
Adjusted Basic & Diluted Earnings per Share		 ($0.61) $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		 66.31M 82.05M 97.23M 112.50M 148.69M 158.40M 177.95M 179.33M 181.78M 186.56M 191.04M
Normalized Net Operating Profit after Tax (NOPAT)		 25 29 40 55 75 96 115 144 166 188 222
Normalized NOPAT Margin		 11.46% 11.57% 13.33% 15.76% 18.55% 19.87% 20.42% 21.86% 23.50% 24.44% 26.32%
Pre Tax Income Margin		 -13.42% 14.22% 10.69% 27.42% 12.48% 42.78% 34.94% 27.72% 27.86% 25.19% 33.04%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.19 1.77 1.76 2.97 1.93 4.27 3.99 3.31 3.08 2.70 3.09
NOPAT to Interest Expense		 0.03 0.43 1.19 1.49 1.79 2.08 2.50 2.58 2.51 2.31 2.37
EBIT Less CapEx to Interest Expense		 0.33 4.40 2.21 6.52 1.50 7.71 6.25 3.61 3.06 2.49 2.79
NOPAT Less CapEx to Interest Expense		 0.18 3.06 1.64 5.04 1.37 5.53 4.76 2.88 2.49 2.10 2.07
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -360.85% 330.00% 437.91% 165.07% 374.19% 108.46% 125.09% 146.41% 135.68% 141.91% 100.80%
Augmented Payout Ratio		 -365.26% 349.45% 437.91% 165.07% 374.19% 108.46% 125.09% 146.41% 135.68% 141.91% 100.80%

Quarterly Metrics And Ratios for Stag Industrial

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 191,036,305.00 191,205,055.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 191,036,305.00 191,205,055.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.32 0.28
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.62% 8.06% 10.53% 6.39% 8.74% 9.61% 9.39% 10.69% 10.82% 9.06% 8.08%
EBITDA Growth		 14.79% -5.18% 14.21% -0.67% 13.08% 47.94% -3.67% 8.96% 26.05% -11.05% 9.37%
EBIT Growth		 30.37% -13.21% 16.91% -4.65% 23.17% 98.15% -4.25% 13.34% 44.59% -21.28% 7.99%
NOPAT Growth		 21.21% 19.70% 2.62% 7.02% 14.17% 16.67% 32.46% 16.39% 17.92% 13.34% 5.20%
Net Income Growth		 40.02% -25.99% 15.68% -16.49% 22.00% 149.28% -16.39% 16.19% 63.81% -32.18% 5.78%
EPS Growth		 29.41% -28.57% 13.79% -17.86% 27.27% 145.00% -18.18% 13.04% 57.14% -34.69% 3.70%
Operating Cash Flow Growth		 1.69% 21.69% 11.32% 23.90% 14.57% -1.54% -8.48% 12.15% -0.44% 13.42% -0.83%
Free Cash Flow Firm Growth		 82.61% -71.71% -468.89% -338.43% -653.14% -201.21% -12.46% -139.84% 44.87% 33.73% -90.33%
Invested Capital Growth		 1.95% 3.26% 5.16% 3.07% 7.79% 7.60% 5.70% 5.82% 4.67% 5.21% 9.25%
Revenue Q/Q Growth		 2.25% 2.31% 1.19% 0.51% 4.50% 3.14% 0.98% 1.70% 4.63% 1.50% 0.07%
EBITDA Q/Q Growth		 -3.85% -3.00% 22.20% -12.85% 9.46% 26.90% -20.43% -1.43% 26.63% -10.45% -2.16%
EBIT Q/Q Growth		 -9.27% -6.52% 39.20% -19.24% 17.20% 50.38% -32.73% -4.41% 49.53% -18.12% -7.73%
NOPAT Q/Q Growth		 -0.02% 0.51% -6.14% 13.47% 6.65% 2.71% 6.57% -0.30% 8.05% -1.27% -1.08%
Net Income Q/Q Growth		 -16.69% -12.14% 63.07% -30.03% 21.71% 79.51% -45.31% -2.77% 71.60% -25.68% -14.69%
EPS Q/Q Growth		 -21.43% -9.09% 65.00% -30.30% 21.74% 75.00% -44.90% -3.70% 69.23% -27.27% -12.50%
Operating Cash Flow Q/Q Growth		 -11.33% 14.82% 16.24% 4.69% -18.00% -1.32% 8.04% 28.29% -27.21% 12.42% -5.54%
Free Cash Flow Firm Q/Q Growth		 -96.48% -142.50% -89.44% 51.43% -237.53% 3.01% 29.27% -3.59% 22.41% -16.57% -103.14%
Invested Capital Q/Q Growth		 0.24% 0.30% 1.80% 0.71% 4.82% 0.12% 0.01% 0.82% 3.69% 0.63% 3.85%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 80.03% 79.17% 80.25% 80.07% 79.80% 78.75% 80.54% 80.03% 79.37% 78.90% 79.93%
EBITDA Margin		 75.73% 71.80% 86.71% 75.18% 78.75% 96.90% 76.36% 74.01% 89.57% 79.03% 77.27%
Operating Margin		 34.48% 33.87% 31.42% 35.47% 36.20% 36.05% 38.05% 37.30% 38.52% 37.47% 37.04%
EBIT Margin		 37.08% 33.87% 46.60% 37.44% 42.00% 61.24% 40.79% 38.34% 54.79% 44.20% 40.76%
Profit (Net Income) Margin		 23.26% 19.97% 32.18% 22.40% 26.09% 45.42% 24.60% 23.52% 38.57% 28.24% 24.07%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.08% 99.93% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 62.72% 58.95% 69.06% 59.78% 62.17% 74.16% 60.30% 61.34% 70.39% 63.89% 59.07%
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)		 4.04% 4.06% 3.82% 4.31% 4.38% 4.46% 4.77% 4.76% 4.84% 4.79% 4.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.24% 3.05% 3.88% 3.41% 3.67% 5.13% 3.82% 3.79% 4.84% 4.13% 3.84%
Return on Net Nonoperating Assets (RNNOA)		 2.44% 2.32% 3.00% 2.73% 3.01% 4.23% 3.24% 3.35% 4.21% 3.62% 3.49%
Return on Equity (ROE)		 6.47% 6.37% 6.82% 7.04% 7.39% 8.68% 8.01% 8.10% 9.05% 8.41% 8.22%
Cash Return on Invested Capital (CROIC)		 2.00% 0.91% -0.92% 1.08% -3.35% -3.01% -0.98% -0.95% 0.14% -0.24% -4.04%
Operating Return on Assets (OROA)		 4.21% 3.94% 5.49% 4.38% 4.91% 7.32% 4.94% 4.69% 6.60% 5.44% 5.02%
Return on Assets (ROA)		 2.64% 2.32% 3.79% 2.62% 3.05% 5.43% 2.98% 2.88% 4.64% 3.48% 2.96%
Return on Common Equity (ROCE)		 6.34% 6.23% 6.67% 6.90% 7.24% 8.50% 7.84% 7.93% 8.86% 8.23% 8.04%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.49% 5.75% 5.58% 0.00% 7.19% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 63 64 60 68 72 74 79 79 85 84 83
NOPAT Margin		 34.48% 33.87% 31.42% 35.47% 36.20% 36.05% 38.05% 37.30% 38.52% 37.47% 37.04%
Net Nonoperating Expense Percent (NNEP)		 0.79% 1.00% -0.05% 0.91% 0.71% -0.67% 0.95% 0.96% 0.00% 0.66% 0.89%
Return On Investment Capital (ROIC_SIMPLE)		 1.04% - - - 1.09% 1.12% 1.20% 1.19% 1.22% 1.22% 1.16%
Cost of Revenue to Revenue		 19.97% 20.83% 19.75% 19.93% 20.20% 21.25% 19.46% 19.97% 20.63% 21.10% 20.07%
SG&A Expenses to Revenue		 6.68% 7.21% 6.55% 6.57% 6.56% 6.75% 6.19% 6.03% 6.46% 6.37% 6.04%
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		 45.55% 45.29% 48.83% 44.60% 43.60% 42.70% 42.49% 42.73% 40.85% 41.43% 42.90%
Earnings before Interest and Taxes (EBIT)		 68 64 88 71 84 126 85 81 121 99 91
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 139 135 165 143 157 199 159 156 198 177 173
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.02 2.05 1.96 2.16 1.78 1.94 1.97 1.92 1.91 1.92 2.00
Price to Tangible Book Value (P/TBV)		 2.02 2.05 1.96 2.16 1.78 1.94 1.97 1.92 1.91 1.92 2.00
Price to Revenue (P/Rev)		 9.64 9.54 8.85 9.47 8.00 8.58 8.43 8.00 8.12 7.97 8.26
Price to Earnings (P/E)		 35.43 38.29 34.82 39.59 32.48 27.64 28.93 27.36 25.11 28.24 29.48
Dividend Yield		 3.91% 3.88% 4.10% 3.78% 4.39% 4.10% 4.09% 4.22% 4.05% 4.17% 4.32%
Earnings Yield		 2.82% 2.61% 2.87% 2.53% 3.08% 3.62% 3.46% 3.65% 3.98% 3.54% 3.39%
Enterprise Value to Invested Capital (EV/IC)		 1.56 1.57 1.51 1.61 1.40 1.49 1.50 1.47 1.47 1.47 1.50
Enterprise Value to Revenue (EV/Rev)		 13.47 13.34 12.72 13.41 12.04 12.52 12.31 11.88 11.99 11.76 12.23
Enterprise Value to EBITDA (EV/EBITDA)		 16.74 17.14 16.16 17.33 15.41 14.81 15.03 14.58 14.23 14.73 15.28
Enterprise Value to EBIT (EV/EBIT)		 32.67 34.15 31.92 34.59 30.08 26.62 27.04 26.07 24.56 26.33 27.43
Enterprise Value to NOPAT (EV/NOPAT)		 40.11 38.83 37.71 39.67 35.13 35.95 33.76 32.18 31.97 31.08 32.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.37 23.50 22.29 22.55 20.07 21.44 22.06 21.09 21.87 21.28 22.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 78.85 176.04 0.00 150.59 0.00 0.00 0.00 0.00 1,058.95 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.77 0.79 0.83 0.88 0.87 0.87 0.87 0.90 0.90 0.88 0.94
Long-Term Debt to Equity		 0.65 0.66 0.79 0.80 0.75 0.72 0.86 0.86 0.83 0.83 0.82
Financial Leverage		 0.75 0.76 0.77 0.80 0.82 0.82 0.85 0.88 0.87 0.88 0.91
Leverage Ratio		 1.81 1.81 1.83 1.87 1.88 1.89 1.91 1.96 1.95 1.95 1.98
Compound Leverage Factor		 1.13 1.07 1.26 1.12 1.17 1.40 1.15 1.20 1.37 1.24 1.17
Debt to Total Capital		 43.54% 44.00% 45.30% 46.81% 46.48% 46.40% 46.66% 47.27% 47.28% 46.85% 48.40%
Short-Term Debt to Total Capital		 6.59% 7.12% 2.03% 4.10% 6.20% 7.76% 0.79% 1.68% 3.78% 2.91% 6.25%
Long-Term Debt to Total Capital		 36.96% 36.88% 43.27% 42.72% 40.27% 38.65% 45.87% 45.59% 43.50% 43.94% 42.15%
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		 1.17% 1.17% 1.14% 1.09% 1.08% 1.16% 1.15% 1.13% 1.08% 1.14% 1.09%
Common Equity to Total Capital		 55.29% 54.83% 53.56% 52.10% 52.44% 52.44% 52.19% 51.61% 51.63% 52.01% 50.52%
Debt to EBITDA		 4.67 4.79 4.86 5.09 5.11 4.62 4.68 4.68 4.63 4.68 4.94
Net Debt to EBITDA		 4.63 4.76 4.80 4.97 5.05 4.55 4.63 4.65 4.48 4.63 4.84
Long-Term Debt to EBITDA		 3.96 4.01 4.64 4.65 4.43 3.85 4.60 4.51 4.26 4.39 4.30
Debt to NOPAT		 11.18 10.84 11.33 11.66 11.65 11.22 10.51 10.32 10.39 9.88 10.51
Net Debt to NOPAT		 11.09 10.79 11.20 11.38 11.51 11.04 10.39 10.26 10.07 9.76 10.31
Long-Term Debt to NOPAT		 9.49 9.09 10.82 10.64 10.10 9.34 10.33 9.95 9.56 9.27 9.15
Altman Z-Score		 1.32 1.30 1.23 1.24 1.00 1.12 1.18 1.10 1.12 1.11 1.06
Noncontrolling Interest Sharing Ratio		 2.09% 2.18% 2.16% 2.10% 2.04% 2.13% 2.12% 2.09% 2.04% 2.15% 2.13%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.42 0.39 0.82 0.64 0.44 0.40 1.11 0.79 0.75 0.67 0.48
Quick Ratio		 0.27 0.24 0.54 0.42 0.28 0.21 0.62 0.47 0.36 0.37 0.32
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -54 -130 -246 -119 -403 -391 -277 -286 -222 -259 -526
Operating Cash Flow to CapEx		 423.97% 427.11% 0.00% 666.04% 271.82% 0.00% 274.14% 339.47% 0.00% 999.23% 1,093.18%
Free Cash Flow to Firm to Interest Expense		 -2.11 -4.98 -8.98 -4.16 -12.72 -12.02 -8.23 -9.05 -6.20 -7.22 -14.04
Operating Cash Flow to Interest Expense		 3.61 4.03 4.47 4.46 3.31 3.18 3.33 4.53 2.91 3.27 2.96
Operating Cash Flow Less CapEx to Interest Expense		 2.76 3.09 6.60 3.79 2.09 3.72 2.11 3.20 3.62 2.95 2.69
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12
Accounts Receivable Turnover		 5.81 5.88 6.23 6.03 5.80 5.80 6.08 6.03 5.77 5.70 5.87
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		 0.12 0.12 0.12 0.12 0.12 0.13 0.13 0.13 0.13 0.13 0.13
Accounts Payable Turnover		 1.55 1.64 1.55 1.26 1.47 1.58 1.50 1.13 1.31 1.41 1.46
Days Sales Outstanding (DSO)		 62.85 62.09 58.58 60.52 62.93 62.90 60.01 60.57 63.23 64.07 62.17
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)		 236.01 223.18 235.96 290.35 247.49 230.34 243.53 322.66 278.50 258.33 250.74
Cash Conversion Cycle (CCC)		 -173.15 -161.09 -177.38 -229.82 -184.55 -167.44 -183.52 -262.09 -215.27 -194.26 -188.56
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,104 6,122 6,232 6,277 6,580 6,588 6,588 6,642 6,887 6,931 7,197
Invested Capital Turnover		 0.12 0.12 0.12 0.12 0.12 0.12 0.13 0.13 0.13 0.13 0.13
Increase / (Decrease) in Invested Capital		 117 193 306 187 475 465 356 365 307 343 609
Enterprise Value (EV)		 9,531 9,633 9,411 10,077 9,239 9,836 9,890 9,782 10,132 10,158 10,767
Market Capitalization		 6,824 6,885 6,546 7,119 6,140 6,739 6,770 6,589 6,865 6,889 7,277
Book Value per Share		 $18.59 $18.44 $18.37 $18.10 $18.98 $18.58 $18.46 $18.35 $19.25 $18.77 $18.99
Tangible Book Value per Share		 $18.59 $18.44 $18.37 $18.10 $18.98 $18.58 $18.46 $18.35 $19.25 $18.77 $18.99
Total Capital		 6,103 6,113 6,244 6,325 6,594 6,612 6,600 6,637 6,964 6,894 7,188
Total Debt		 2,658 2,689 2,829 2,961 3,064 3,068 3,080 3,137 3,293 3,230 3,479
Total Long-Term Debt		 2,256 2,254 2,702 2,702 2,655 2,555 3,027 3,026 3,029 3,029 3,030
Net Debt		 2,636 2,676 2,794 2,890 3,027 3,020 3,044 3,119 3,192 3,191 3,412
Capital Expenditures (CapEx)		 22 25 -58 19 39 -18 41 42 -25 12 10
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 59 64 39 20 26 38 43 21 42 6.69 11
Debt-free Net Working Capital (DFNWC)		 80 77 74 92 63 86 79 40 143 46 77
Net Working Capital (NWC)		 -322 -358 -53 -167 -346 -427 27 -71 -120 -155 -372
Net Nonoperating Expense (NNE)		 21 26 -1.45 25 20 -19 28 29 -0.11 21 29
Net Nonoperating Obligations (NNO)		 2,658 2,699 2,817 2,913 3,051 3,044 3,067 3,142 3,216 3,266 3,488
Total Depreciation and Amortization (D&A)		 71 71 76 72 73 73 74 75 77 78 82
Debt-free, Cash-free Net Working Capital to Revenue		 8.28% 8.82% 5.32% 2.72% 3.40% 4.78% 5.41% 2.60% 4.99% 0.77% 1.20%
Debt-free Net Working Capital to Revenue		 11.37% 10.63% 9.99% 12.19% 8.27% 10.90% 9.87% 4.84% 16.92% 5.31% 8.75%
Net Working Capital to Revenue		 -45.42% -49.64% -7.18% -22.29% -45.02% -54.39% 3.37% -8.67% -14.23% -17.90% -42.23%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.22 $0.20 $0.33 $0.23 $0.28 $0.49 $0.27 $0.26 $0.44 $0.32 $0.28
Adjusted Weighted Average Basic Shares Outstanding		 180.22M 181.71M 181.96M 182.03M 182.16M 186.47M 186.54M 186.59M 186.84M 191.00M 191.18M
Adjusted Diluted Earnings per Share		 $0.22 $0.20 $0.33 $0.23 $0.28 $0.49 $0.27 $0.26 $0.44 $0.32 $0.28
Adjusted Weighted Average Diluted Shares Outstanding		 180.56M 181.99M 182.19M 182.30M 182.40M 186.76M 186.91M 186.84M 187.17M 191.24M 191.33M
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		 181.78M 182.08M 182.11M 182.21M 186.56M 186.62M 186.70M 186.75M 191.04M 191.21M 192.81M
Normalized Net Operating Profit after Tax (NOPAT)		 44 44 45 47 51 52 56 55 60 59 58
Normalized NOPAT Margin		 24.14% 23.71% 23.83% 24.83% 25.34% 25.24% 26.93% 26.11% 26.96% 26.23% 25.93%
Pre Tax Income Margin		 23.26% 19.97% 32.18% 22.38% 26.11% 45.42% 24.60% 23.52% 38.57% 28.24% 24.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.68 2.44 3.23 2.49 2.64 3.87 2.52 2.56 3.38 2.76 2.44
NOPAT to Interest Expense		 2.49 2.44 2.18 2.36 2.28 2.28 2.35 2.49 2.37 2.34 2.22
EBIT Less CapEx to Interest Expense		 1.83 1.49 5.37 1.82 1.42 4.41 1.31 1.22 4.08 2.43 2.17
NOPAT Less CapEx to Interest Expense		 1.64 1.49 4.31 1.69 1.06 2.82 1.14 1.15 3.08 2.01 1.95
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 135.68% 147.97% 142.32% 148.92% 141.91% 110.65% 115.77% 113.57% 100.80% 94.57% 95.71%
Augmented Payout Ratio		 135.68% 147.97% 142.32% 148.92% 141.91% 110.65% 115.77% 113.57% 100.80% 94.57% 95.71%

Financials Breakdown Chart

Key Financial Trends

Stag Industrial’s latest quarter shows steady revenue growth, solid operating cash flow, and a manageable balance sheet, but the company is still carrying substantial debt and did not fully cover its dividend with quarterly earnings.

For Q1 2026, STAG reported revenue of $224.2 million, up modestly from $220.9 million in Q4 2025 and $205.6 million in Q1 2025. Net income attributable to common shareholders came in at $62.0 million, or $0.32 per share, down from $83.5 million and $0.44 per share in the prior quarter, but above the $49.1 million / $0.49 per share level from the same quarter last year.

Cash generation remains a key strength. STAG produced $117.4 million in operating cash flow in Q1 2026, compared with $104.5 million in Q4 2025 and $103.5 million in Q1 2025. That said, the company spent heavily on investments and acquisitions, which helped drive a $61.7 million decline in cash during the quarter.

The balance sheet shows the typical REIT profile: large property holdings, meaningful leverage, and relatively thin current assets versus total obligations. Total assets were $7.18 billion, including $6.82 billion in net property, plant, and equipment. Total liabilities stood at $3.52 billion, while total equity and noncontrolling interests were $3.66 billion.

One notable item for income investors: STAG paid $0.39 per share in dividends during Q1 2026, while diluted EPS was only $0.32. For REITs, earnings coverage is not the only metric that matters, but the gap suggests the dividend is still relying heavily on cash flow rather than accounting earnings.

  • Revenue continues to trend higher, with Q1 2026 sales up year over year and slightly above the prior quarter.
  • Operating cash flow is strong, reaching $117.4 million in Q1 2026.
  • Gross profit remains healthy at $176.9 million, showing good property-level economics.
  • Common equity has grown over the last year, supported by retained earnings movements and capital activity.
  • Debt was reduced net of new borrowing and repayments versus the massive refinancing activity seen earlier in 2025.
  • Dividend coverage is mixed; quarterly EPS trails the dividend per share, but REIT investors will also look at cash flow and FFO-style metrics.
  • Depreciation is very large, which is normal for a REIT but makes net income less informative than cash flow.
  • Shares outstanding remain high, with diluted weighted average shares around 191.2 million in Q1 2026.
  • Asset growth is being driven by property investment, which can support long-term earnings but also increases capital needs.
  • Total debt remains elevated, including about $3.0 billion of long-term debt and $200.5 million of short-term debt at quarter-end.
  • Cash declined sharply in Q1 2026, reflecting heavy investing activity and financing outflows.
  • Interest expense is still a major drag, at $35.9 million for the quarter.
  • Retained earnings remain deeply negative, which highlights years of dividend distributions and real estate accounting dynamics.

Bottom line: STAG looks like a stable industrial REIT with improving revenue and dependable operating cash flow, but investors should keep an eye on leverage, interest expense, and whether cash generation continues to support the dividend and ongoing expansion.

08/01/26 02:01 AM ETAI Generated. May Contain Errors.

Stag Industrial Financials - Frequently Asked Questions

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

Stag Industrial's net income appears to be on an upward trend, with a most recent value of $279.27 million in 2025, falling from -$29.35 million in 2015. The previous period was $193.27 million in 2024. See Stag Industrial's forecast for analyst expectations on what's next for the company.

Stag Industrial's total operating income in 2025 was $316.94 million, based on the following breakdown:
  • Total Gross Profit: $673.36 million
  • Total Operating Expenses: $356.42 million

Over the last 10 years, Stag Industrial's total revenue changed from $218.63 million in 2015 to $845.18 million in 2025, a change of 286.6%.

Stag Industrial's total liabilities were at $3.54 billion at the end of 2025, a 7.0% increase from 2024, and a 238.8% increase since 2015.

In the past 10 years, Stag Industrial's cash and equivalents has ranged from $7.97 million in 2018 to $36.28 million in 2024, and is currently $14.91 million as of their latest financial filing in 2025.

Over the last 10 years, Stag Industrial's book value per share changed from 9.28 in 2015 to 19.25 in 2025, a change of 107.4%.


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Financial statements for NYSE:STAG last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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