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Other financials

Income statement

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Revenue$69.0M-3.8%
Net income$32.8M+5.6%
EPS (diluted)$1.02-1.0%

Balance sheet

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Cash & equivalents$89.1M-30.4%
Total debt$570.0K-99.8%
Total equity$1.9B-1.4%
Total assets$2.4B+1.8%

Cash flow

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Operating cash flow$56.0M+3.3%

Valuation

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Market cap$1.69B+17.0%
P/E14.1×+3.6×
P/S6.4×+1.4×

Profitability

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Operating margin46.8%-5.8pp
Net margin45.6%-4.7pp

Returns & leverage

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Return on equity6.3%-1.6pp
Debt / equity-0.1×

Where this comes from

Reported directly by Innovative Industrial Properties, Inc. in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Innovative Industrial Properties, Inc.’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:11 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001677576-26-000002
Line itemFor the Three Months Ended March 31, 2026For the Three Months Ended March 31, 2025
Impairment loss on real estate3,527
Total expenses36,50937,758
Gain (loss) on sale of real estate422
Income from operations32,90933,964
Interest and other income6,3311,613
Interest expense(6,431)(4,500)
Net income32,80931,077
Preferred stock dividends(2,654)(781)

Item 1. Financial Statements (Unaudited)

FAQ

What is Innovative Industrial Properties, Inc.'s operating income?
Innovative Industrial Properties, Inc. (IIPR) reported operating income of $32.91M in Q1 2026.
How has Innovative Industrial Properties, Inc.'s operating income changed year-over-year?
Innovative Industrial Properties, Inc.'s operating income decreased by 3.1% year-over-year, from $33.96M to $32.91M.
What is the long-term trend for Innovative Industrial Properties, Inc.'s operating income?
Over 4 years (2021 to 2025), Innovative Industrial Properties, Inc.'s operating income has grown at a -2.1% compound annual growth rate (CAGR), from $135.37M to $124.12M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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