15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 10.2% per year over the past 5 years.
Net income has grown slower than revenue (4.8% vs 10.2% per year).
Financial health
Total debt has grown slower than revenue (-0.5% vs 10.2% per year).
Shareholder returns
Dividends have been paid for 13 consecutive years, consuming 93.4% of earnings.
The dividend has grown 12.7% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$727M
$247M
0.0%
0.0%
9.3%
4.4%
—
—
$78M
2024
$670M
$288M
0.0%
0.0%
10.8%
5.5%
—
—
$45M
2023
$614M
$275M
0.0%
0.0%
10.7%
5.3%
—
—
$44M
2022
$540M
$359M
0.0%
0.0%
14.6%
7.2%
—
—
$133M
2021
$476M
$271M
0.0%
0.0%
12.3%
6.5%
—
—
$59M
2020
$448M
$196M
0.0%
0.0%
10.3%
5.2%
—
—
$162M
2019
$426M
$239M
0.0%
0.0%
13.5%
6.8%
—
—
$21M
2018
$404M
$163M
0.0%
0.0%
9.9%
5.2%
—
—
$43M
2017
$396M
$201M
0.0%
0.0%
14.1%
6.8%
—
$1.3B
$21M
2016
$378M
$121M
0.0%
0.0%
9.8%
4.3%
—
$1.4B
$10M
2015
—
$74M
—
—
6.9%
2.7%
—
$1.4B
$4M
2014
—
$49M
—
—
4.7%
1.9%
—
$1.3B
$10M
2013
—
$40M
—
—
3.6%
1.6%
—
$1.3B
$8M
2012
—
-$1M
—
—
-0.1%
-0.1%
—
$1.3B
$5M
2011
—
-$7M
—
—
-0.7%
-0.3%
—
$1.5B
$10M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$195M
$77M
0.0%
0.0%
2.8%
1.3%
—
—
$46M
Mar '26
$195M
$143M
0.0%
0.0%
5.2%
2.5%
—
—
$37M
Dec '25
$188M
$79M
0.0%
0.0%
3.0%
1.4%
—
—
$78M
Sep '25
$181M
$65M
0.0%
0.0%
2.5%
1.2%
—
—
$34M
Jun '25
$180M
$55M
0.0%
0.0%
2.1%
1.0%
—
—
$35M
Mar '25
$177M
$48M
0.0%
0.0%
1.8%
0.9%
—
—
$36M
Dec '24
$176M
$68M
0.0%
0.0%
2.6%
1.3%
—
—
$45M
Sep '24
$168M
$99M
0.0%
0.0%
3.8%
1.9%
—
—
$47M
Jun '24
$164M
$51M
0.0%
0.0%
2.0%
1.0%
—
—
$39M
Mar '24
$162M
$68M
0.0%
0.0%
2.6%
1.3%
—
—
$49M
Dec '23
$157M
$89M
0.0%
0.0%
3.5%
1.7%
—
—
$44M
Sep '23
$155M
$75M
0.0%
0.0%
3.0%
1.5%
—
—
$54M
Jun '23
$152M
$55M
0.0%
0.0%
2.2%
1.1%
—
—
$68M
Mar '23
$149M
$56M
0.0%
0.0%
2.3%
1.1%
—
—
$66M
Dec '22
$145M
$82M
0.0%
0.0%
3.3%
1.7%
—
—
$133M
Sep '22
$140M
$124M
0.0%
0.0%
5.1%
2.5%
—
—
$147M
Jun '22
$130M
$117M
0.0%
0.0%
5.1%
2.5%
—
—
$135M
Mar '22
$126M
$36M
0.0%
0.0%
1.6%
0.8%
—
—
$44M
Dec '21
$122M
$114M
0.0%
0.0%
5.2%
2.7%
—
—
$59M
Sep '21
$121M
$42M
0.0%
0.0%
2.1%
1.1%
—
—
$52M
Valuation over time
How the market has priced FR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 19.6× (Mar '23) to 29.4× (Nov '26).
The price-to-sales ratio has fallen from 13.1× (Mar '23) to 10.0× (Nov '26).
The dividend yield has risen from 2.2% (Mar '23) to 3.2% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is FR growing its revenue and profit?
Over the past 5 years, First Industrial Realty Trust Inc's revenue has grown 10.2% per year, and net income grown 4.8% per year. These are computed facts, not advice.
How much debt does FR have?
As of FY2025, First Industrial Realty Trust Inc reported — of total debt against $78M of cash.
What is FR's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 34.0%.
What is FR's P/E ratio?
First Industrial Realty Trust Inc's P/E (TTM) is 19.98 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 29.4× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.