Innovative Industrial Properties (IIPR) Operating Income (2017 - 2026)
Innovative Industrial Properties (IIPR) recorded Operating Income of $29.38 million in Q3 2026, down 0.1% from $29.41 million a year earlier and down 29.1% from the prior quarter.
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Analysis
Innovative Industrial Properties (IIPR) Operating Income (2017 - 2026) Analysis & Trends
On a TTM basis, Innovative Industrial Properties' Operating Income came in at $135.59 million as of Sep 30, 2026, up 1.0% year-over-year; for FY2025, it was $124.12 million, down 26.3% from FY2024.
- Annual Operating Income has a five-year compound annual growth rate of 12.2% (FY2020 to FY2025).
- Across earlier years, Operating Income came in at $168.35 million in FY2024 (-3.6%), $174.59 million in FY2023 (+2.9%), $169.62 million in FY2022 (+25.3%) and $135.37 million in FY2021 (+94.1%).
- The Q3 2026 figure is the lowest quarterly Operating Income since Q2 2025.
- On a year-over-year basis, Operating Income rose in 1 of the last eight quarters, with an average decline of 8.7%.
- Peak year-over-year performance for Operating Income in the last five years was growth of 68.2% in Q4 2021, against a decline of 31.8% in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $41.45 million (Q2 2026), $32.91 million (Q1 2026) and $31.85 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 177.74 Bn | 163.76 Bn | 1.47 Bn | 337.95 Mn |
| 2 | Prologis | 120.05 Bn | 114.00 Bn | - | 1.04 Bn |
| 3 | Simon Property | 74.18 Bn | 70.24 Bn | - | 824.10 Mn |
| 4 | Public Storage | 62.09 Bn | 60.82 Bn | - | 316.96 Mn |
| 5 | Realty Income | 55.76 Bn | 54.03 Bn | - | - |
| 6 | Ventas | 45.60 Bn | 44.27 Bn | - | - |
| 7 | Extra Space Storage | 33.58 Bn | 32.49 Bn | 650.96 Mn | 391.87 Mn |
| 8 | Vici Properties | 27.29 Bn | 25.64 Bn | 1.06 Bn | 556.22 Mn |
| 9 | Vivmark Residential | 24.52 Bn | 24.30 Bn | - | - |
| 10 | Innovative Industrial Properties | 1.50 Bn | 1.01 Bn | - | 29.38 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 29.38 Mn |
| Jun 30, 2026 | 41.45 Mn |
| Mar 31, 2026 | 32.91 Mn |
| Dec 31, 2025 | 31.85 Mn |
| Sep 30, 2025 | 29.41 Mn |
| Jun 30, 2025 | 28.90 Mn |
| Mar 31, 2025 | 33.96 Mn |
| Dec 31, 2024 | 42.01 Mn |
| Sep 30, 2024 | 41.96 Mn |
| Jun 30, 2024 | 42.35 Mn |
| Mar 31, 2024 | 42.03 Mn |
| Dec 31, 2023 | 43.96 Mn |
| Sep 30, 2023 | 43.85 Mn |
| Jun 30, 2023 | 43.42 Mn |
| Mar 31, 2023 | 43.36 Mn |
| Dec 31, 2022 | 44.24 Mn |
| Sep 30, 2022 | 41.36 Mn |
| Jun 30, 2022 | 44.14 Mn |
| Mar 31, 2022 | 39.88 Mn |
| Dec 31, 2021 | 38.46 Mn |
API Access
Innovative Industrial Properties Operating Income 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=operating-income&ticker=IIPR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-income", "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=operating-income&ticker=IIPR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();