Innovative Industrial Properties (IIPR) FY2023 results: revenue $310 million, up 12.0% on the year
Innovative Industrial Properties Inc. (IIPR) reported revenue of $310 million for fiscal 2023, the year ended 31 December 2023, up 12.0% on the year before. Net income was $166 million, up 7.3%, and diluted earnings per share $5.77. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$310 million
+12.0% on the year
FY2017FY2023
Operating margin
56.4%
61.4% a year earlier
FY2017FY2023
Net income
$166 million
+7.3% on the year
FY2017FY2023
Diluted EPS
$5.77
+4.5% on the year
FY2017FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
256
234
189
+9.1%
Cash from investing
-6.8
-396
-384
Cash from financing
-196
164
156
Depreciation and amortisation
67.2
61.3
41.8
+9.6%
Share-based compensation
19.6
17.5
8.6
+11.8%
Buybacks
0.0
n/a
n/a
Dividends paid
203
184
131
+10.2%
Diluted shares, weighted
28m
28m
26m
+2.1%
Shares outstanding at period end
28m
28m
26m
+0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,953
1,962
1,612
-0.5%
Debt
301
301
326
-0.2%
Other liabilities
137
151
147
-9.4%
Total liabilities and equity
2,391
2,415
2,085
-1.0%
Intangible assets
8.2
n/a
n/a
Investments
21.9
201
325
-89.1%
Loans
n/a
n/a
12.9
Cash and equivalents
140
87.1
81.1
+61.0%
Other assets
2,221
2,127
1,666
+4.4%
Total assets
2,391
2,415
2,085
-1.0%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.