Innovative Industrial Properties (IIPR) FCF Margin (2017 - 2026)
Innovative Industrial Properties (IIPR) recorded FCF Margin of 72.40% in Q3 2026, up 8.77 percentage points from 63.63% a year earlier and up 2.48 percentage points from the prior quarter.
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Analysis
Innovative Industrial Properties (IIPR) FCF Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Innovative Industrial Properties' FCF Margin came in at 72.69% as of Sep 30, 2026, up 16.84 percentage points year-over-year; for FY2025, it came in at 62.75%, up 5.48 percentage points from FY2024.
- Annual FCF Margin has increased for six straight years, with a five-year change of +421.37 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 57.27% in FY2024 (+34.48 pp), 22.79% in FY2023 (+127.67 pp), -104.88% in FY2022 (+126.55 pp) and -231.42% in FY2021 (+127.20 pp).
- Quarterly FCF Margin has ranged from -389.02% in Q4 2021 to 76.93% in Q1 2026 over the past five years.
- On a year-over-year basis, FCF Margin has increased for four consecutive quarters, with an average year-over-year change of +6.01 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 386.11 percentage points in Q4 2022, against a drop of 109.75 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 69.93% (Q2 2026), 76.93% (Q1 2026) and 71.19% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 177.74 Bn | 163.76 Bn | 1.47 Bn | -78.67% |
| 2 | Prologis | 120.05 Bn | 114.00 Bn | - | 8.67% |
| 3 | Simon Property | 74.18 Bn | 70.24 Bn | - | 53.54% |
| 4 | Public Storage | 62.09 Bn | 60.82 Bn | - | 61.86% |
| 5 | Realty Income | 55.76 Bn | 54.03 Bn | - | -70.50% |
| 6 | Ventas | 45.60 Bn | 44.27 Bn | - | -44.56% |
| 7 | Extra Space Storage | 33.58 Bn | 32.49 Bn | 650.96 Mn | 42.53% |
| 8 | Vici Properties | 27.29 Bn | 25.64 Bn | 1.06 Bn | 60.78% |
| 9 | Vivmark Residential | 24.52 Bn | 24.30 Bn | - | - |
| 10 | Innovative Industrial Properties | 1.50 Bn | 1.01 Bn | - | 72.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 72.40% |
| Jun 30, 2026 | 69.93% |
| Mar 31, 2026 | 76.93% |
| Dec 31, 2025 | 71.19% |
| Sep 30, 2025 | 63.63% |
| Jun 30, 2025 | 65.10% |
| Mar 31, 2025 | 52.07% |
| Dec 31, 2024 | 45.25% |
| Sep 30, 2024 | 73.46% |
| Jun 30, 2024 | 38.47% |
| Mar 31, 2024 | 72.97% |
| Dec 31, 2023 | 57.48% |
| Sep 30, 2023 | 57.87% |
| Jun 30, 2023 | 21.36% |
| Mar 31, 2023 | -47.74% |
| Dec 31, 2022 | -2.92% |
| Sep 30, 2022 | 15.81% |
| Jun 30, 2022 | -257.63% |
| Mar 31, 2022 | -181.90% |
| Dec 31, 2021 | -389.02% |
API Access
Innovative Industrial Properties FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=IIPR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "IIPR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=IIPR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();