Industrial Logistics Properties (ILPT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Industrial Logistics Properties

NasdaqGS•Real Estate•REIT - Industrial

$6.44-0.16(-0.02%)Pre-market

Market Cap

$437.83M

P/S

0.9x

P/B

1.0x

Industrial Logistics Properties Trust is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties. As of June 30, 2026, ILPT's portfolio consisted of 409 properties containing approximately 59.6 million rentable square feet located in 39 states. Approximately 79% of ILPT's annualized rental revenues as of June 30, 2026, are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group, a leading U.S. alternative asset management company with over 37 billion Dollars in assets under management as of June 30, 2026, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. Industrial Logistics Properties Trust is headquartered in Newton, MA. Industrial Logistics Properties Trust was incorporated in 2017 in Maryland.

How this company scores

WeakMetricSide Score: 52/100

Grade capped at D — Interest coverage below 1× (0.7x) — earnings cannot cover interest. Strongest: Profitability (17/25); weakest: Balance Sheet & Red Flags (3/25).

Profitability17/25

Growth16/25

Balance Sheet & Red Flags3/25

Cash & Earnings Quality16/25

Strengths

Rising free cash flowLong cash runwayProfit converts from growthConsistent growth

Grade capped at D

Interest coverage below 1× (0.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 16.0x5y range 13.8x – 16.0x

P/S · 0.9x5y range 0.4x – 7.5x

Currently above its 20-quarter median.

P/B · 1.0x5y range 0.3x – 1.6x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Leverage Risk

Red Flag

D/E ratio is 9.9 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Price & Volume

Market Cap $437.83M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $461.26M
Q. Revenue: $116.81M
TTM EBITDA: $318.36M
TTM Op. Income: $155.25M
Q. Op. Income: $40.98M
TTM Net Income: $-63.51M
Q. Net Income: $-37.84M
EPS: $-0.46
Shares Out.: $66.34M

$461.26M in TTM revenue grew 3.5% YoY, reaching $116.81M last quarter. TTM EBITDA of $318.36M and TTM operating income of $155.25M show growth is flowing through to the bottom line. However, net income is negative at $63.51M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 69.6%
Op. Margin: 35.1%
Net Margin: -32.4%

Op. margin of 35.1% is up 8.7% YoY — cost efficiency is improving. Net margin at -32.4% Over the past year, operating margin is up 33% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.9x
P/B Ratio: 1.0x

P/S of 0.9x and P/B of 1.0x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.09B
Cash: $130.66M
Long-Term Debt: $4.19B
Book Value: $424.87M
D/E Ratio: 9.9
Debt/EBITDA: 51.5

With $5.09B in assets and $4.19B in long-term debt, D/E is 9.9and book value is $424.87M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 7 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $12.93M
TTM Free Cash Flow: $44.04M
FCF Margin: 9.5%
FCF / Net Income: -0.7

TTM FCF of $44.04M on $12.93M in operating cash flow. The FCF / Net Income ratio of -0.7x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 78% — a weakening trend.