Financial Snapshot

Revenue
$310.9M
TTM
Gross Margin
90.97%
TTM
Net Earnings
$162.9M
TTM
Current Assets
$147.1M
Q3 2024
Current Liabilities
$141.2M
Q3 2024
Current Ratio
104.18%
Q3 2024
Total Assets
Q3 2024
Total Liabilities
Q3 2024
Book Value
$1.947B
Q3 2024
Cash
Q3 2024
P/E
18.79
Nov 29, 2024 EST
Free Cash Flow
$187.5M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Revenue $309.5M $276.4M $204.6M $116.9M $44.67M $14.79M $6.420M $300.0K
YoY Change 11.99% 35.11% 74.99% 161.71% 202.07% 130.33% 2040.0%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Revenue $309.5M $276.4M $204.6M $116.9M $44.67M $14.79M $6.420M $300.0K
Cost Of Revenue $24.89M $10.52M $4.443M $5.000M $1.300M $400.0K $100.0K $100.0K
Gross Profit $284.6M $265.8M $200.1M $111.9M $43.40M $14.30M $6.300M $200.0K
Gross Profit Margin 91.96% 96.19% 97.83% 95.73% 97.16% 96.71% 98.13% 66.67%

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Selling, General & Admin $42.83M $38.52M $22.96M $14.20M $9.800M $6.400M $5.500M $800.0K
YoY Change 11.19% 67.76% 61.7% 44.9% 53.13% 16.36% 587.5%
% of Gross Profit 15.05% 14.49% 11.47% 12.69% 22.58% 44.76% 87.3% 400.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.19M $61.30M $41.78M $28.03M $8.599M $2.629M $915.0K $0.00
YoY Change 9.61% 46.74% 49.07% 225.91% 227.08% 187.32%
% of Gross Profit 23.61% 23.06% 20.88% 25.04% 19.81% 18.38% 14.52% 0.0%
Operating Expenses $134.9M $110.3M $69.18M $47.16M $19.73M $9.449M $6.643M $900.0K
YoY Change 22.27% 59.5% 46.7% 139.0% 108.83% 42.24% 638.11%
Operating Profit $174.6M $169.6M $135.4M $69.74M $24.94M $5.338M -$223.0K -$700.0K
YoY Change 2.93% 25.3% 94.12% 179.68% 367.12% -2493.72% -68.14%

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Interest Expense $17.47M $18.30M $18.09M $7.431M $6.306M $0.00 $200.0K
YoY Change -4.56% 1.19% 143.39% 17.84% -100.0%
% of Operating Profit 10.0% 10.79% 13.36% 10.66% 25.29% 0.0%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Pretax Income $165.6M $154.4M $114.0M $65.70M $23.50M $7.000M -$100.0K -$4.400M
YoY Change 7.26% 35.44% 73.5% 179.57% 235.71% -7100.0% -97.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings $165.6M $154.4M $114.0M $65.73M $23.48M $6.985M -$72.00K -$4.400M
YoY Change 7.26% 35.44% 73.42% 180.0% 236.08% -9801.39% -98.36%
Net Earnings / Revenue 53.5% 55.86% 55.73% 56.23% 52.56% 47.24% -1.12% -1466.67%
Basic Earnings Per Share $5.82 $5.57 $4.69 $3.28 $2.06 $0.76 -$0.13
Diluted Earnings Per Share $5.77 $5.52 $4.55 $3.27 $2.03 $0.75 -$0.13 -$435.6K

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Cash & Short-Term Investments $140.2M $87.12M $81.10M $126.0M $82.20M $13.10M $11.80M $33.00M
YoY Change 60.98% 7.43% -35.64% 53.28% 527.48% 11.02% -64.24%
Cash & Equivalents $140.2M $87.12M $81.10M $126.0M $82.20M $13.10M $11.80M $33.00M
Short-Term Investments
Other Short-Term Assets $30.02M $30.18M $9.996M $1.900M $600.0K $500.0K $300.0K
YoY Change -0.54% 201.94% 216.67% 20.0% 66.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $170.3M $117.3M $91.09M $126.0M $84.10M $13.70M $12.30M $33.30M
YoY Change 45.15% 28.78% -27.7% 49.82% 513.87% 11.38% -63.06%
Property, Plant & Equipment $2.167B $2.068B $1.641B $1.021B $507.1M $147.4M $67.80M $30.00M
YoY Change 4.79% 26.0% 60.75% 101.34% 244.03% 117.4% 126.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.95M $200.9M $324.9M $619.3M $119.6M $120.4M
YoY Change -89.08% -38.15% -47.54% 417.81% -0.66%
Other Assets $1.450M $1.450M $5.323M $0.00 $35.10M
YoY Change 0.0% -72.76% -100.0%
Total Long-Term Assets $2.221B $2.298B $1.994B $1.642B $661.8M $267.8M $67.70M $30.00M
YoY Change -3.34% 15.25% 21.4% 148.13% 147.12% 295.57% 125.67%
Total Assets $2.391B $2.415B $2.085B $1.768B $745.9M $281.5M $80.00M $63.30M
YoY Change
Accounts Payable $11.41M $10.55M $7.353M $3.000M $3.400M $2.000M $1.100M $100.0K
YoY Change 8.17% 43.41% 145.1% -11.76% 70.0% 81.82% 1000.0%
Accrued Expenses $5.056M $1.971M $1.532M $2.700M $1.200M $0.00 $0.00 $300.0K
YoY Change 156.52% 28.66% -43.26% 125.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $137.2M $151.4M $146.8M $106.4M $63.20M $17.20M $6.500M $2.900M
YoY Change -9.38% 3.16% 37.98% 68.35% 267.44% 164.62% 124.14%
Long-Term Debt $300.9M $301.5M $326.1M $136.7M $134.7M $0.00 $0.00 $0.00
YoY Change -0.2% -7.54% 138.55% 1.48%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $300.9M $301.5M $326.1M $136.7M $134.7M $0.00 $0.00 $0.00
YoY Change -0.2% -7.54% 138.55% 1.48%
Total Liabilities $438.1M $452.9M $472.9M $243.1M $197.8M $17.20M $6.500M $2.900M
YoY Change -3.27% -4.22% 94.53% 22.9% 1050.0% 164.62% 124.14%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020 2019 2018 2017 2016
Basic Shares Outstanding 27.98M 27.35M 23.90M 19.44M 10.55M 7.139M 3.375M
Diluted Shares Outstanding 28.26M 27.66M 26.26M 19.56M 10.68M 7.286M 3.375M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Free Cash Flow Margin

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Dividends

Dividends

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Stock Price

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Market Cap: $3.0613 Billion

About INNOVATIVE INDUSTRIAL PROPERTIES INC

Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. The company is headquartered in Park City, Utah and currently employs 22 full-time employees. The company went IPO on 2016-11-29. The firm is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated cannabis facilities. The firm is engaged in the business of providing real estate for the regulated cannabis industry. The firm acquires its properties through sale-leaseback transactions and third-party purchases. The firm owns approximately 108 properties comprising 9.0 million square feet (including 722,000 rentable square feet under development/redevelopment) in 19 states, including Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. Its subsidiaries include IIP Operating Partnership, LP, Innovative Industrial Properties, LP, IIPR, Inc. and IIP-GP 2 LLC.

Industry: Real Estate Peers: Prologis, Inc. EASTGROUP PROPERTIES INC FIRST INDUSTRIAL REALTY TRUST INC INDUS REALTY TRUST, INC. Industrial Logistics Properties Trust LXP Industrial Trust Plymouth Industrial REIT, Inc. STAG Industrial, Inc. Terreno Realty Corp