Innovative Industrial Properties (IIPR) FY2024 results: revenue $309 million, down 0.3% on the year
Innovative Industrial Properties Inc. (IIPR) reported revenue of $309 million for fiscal 2024, the year ended 31 December 2024, down 0.3% on the year before. Net income was $162 million, down 2.4%, and diluted earnings per share $5.52. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$309 million
-0.3% on the year
FY2017FY2024
Operating margin
54.6%
56.4% a year earlier
FY2017FY2024
Net income
$162 million
-2.4% on the year
FY2017FY2024
Diluted EPS
$5.52
-4.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
258
256
234
+1.1%
Cash from investing
-56.0
-6.8
-396
Cash from financing
-198
-196
164
Depreciation and amortisation
70.8
67.2
61.3
+5.4%
Share-based compensation
17.3
19.6
17.5
-11.6%
Buybacks
0.0
0.0
n/a
Dividends paid
212
203
184
+4.6%
Diluted shares, weighted
29m
28m
28m
+1.0%
Shares outstanding at period end
28m
28m
28m
+0.7%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,936
1,953
1,962
-0.9%
Debt
298
301
301
-1.0%
Other liabilities
144
137
151
+5.0%
Total liabilities and equity
2,378
2,391
2,415
-0.5%
Intangible assets
7.4
8.2
n/a
-10.4%
Investments
5.0
21.9
201
-77.2%
Cash and equivalents
146
140
87.1
+4.3%
Other assets
2,219
2,221
2,127
-0.1%
Total assets
2,378
2,391
2,415
-0.5%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.