Health score, competitive moat, risk signals, and key metrics at a glance.
Strongest: Cash & Earnings Quality (18/25); weakest: Growth (3/25).
Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate. Innovative Industrial Properties, Inc. was incorporated on June 15th 2016 in Maryland and is based in San Diego, California.
Competitive analysis based on 38 quarters of fundamental data
Operating margins are positive at ~49.6% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~7.5% on average, adequate but below the threshold typically associated with wide moats.
Data-driven red flags and warnings across 38 quarters
Operating margins declined 11.0% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.5x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
TTM revenue has contracted 11.6% — significant decline indicating deteriorating demand.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
