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Innovative Industrial Properties, Inc. IIPR Q4 2025 Annual earnings

Reported February 23, 2026 · After market close

Revenue$66.7MBeat by $886.4K
EPS$1.88Beat by $0.83
Revenue estimate$65.8M
EPS estimate$1.05

Next report

Nov 2, 2026 (in a month)
Revenue estimate$60.9M
EPS estimate$0.91

Financials

Q4 2025

Income statement

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Revenue$66.7M-13.1%
Operating income$31.8M-24.2%
Net income$31.8M-20.4%
EPS (diluted)$1.06-22.1%

Balance sheet

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Cash & equivalents$47.6M-67.5%
Total debt$570.0K-99.8%
Total equity$1.8B-4.5%
Total assets$2.4B-0.3%

Cash flow

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Operating cash flow$49.9M-13.7%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.33B-29.7%
Enterprise value$1.28B-37.0%
P/E11.2×-0.5×
P/S5×-1.1×

Profitability

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Operating margin46.7%-7.9pp
Net margin44.5%-7.9pp

Returns & leverage

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Return on equity6.2%-2.1pp
Debt / equity0×-0.1×

FAQ

When did Innovative Industrial Properties, Inc. report Q4 2025 earnings?
Innovative Industrial Properties, Inc. (IIPR) reported Q4 2025 earnings on February 23, 2026 after market close.
What were Innovative Industrial Properties, Inc.'s Q4 2025 revenue and EPS?
Innovative Industrial Properties, Inc. reported revenue of $66.7M and eps of $1.88 for Q4 2025.
Did Innovative Industrial Properties, Inc. beat estimates in Q4 2025?
Revenue beat the consensus estimate of $65.8M by $886.4K. EPS beat the consensus estimate of $1.05 by $0.83.
How did Innovative Industrial Properties, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 13.1% from $76.7M a year earlier and eps declined 15.3% from $2.22.
Where can I find Innovative Industrial Properties, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001104659-26-018636) and the 10-K periodic report (0001677576-26-000001) directly on SEC EDGAR. The filing index links above go to sec.gov.