Innovative Industrial Properties (LTS:0JBD) Debt-to-EBITDA : 1.19 (As of Sep. 2024)

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What is Innovative Industrial Properties Debt-to-EBITDA?

Debt-to-EBITDA measures a company's ability to pay off its debt.

Innovative Industrial Properties's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $0.0 Mil. Innovative Industrial Properties's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $297.5 Mil. Innovative Industrial Properties's annualized EBITDA for the quarter that ended in Sep. 2024 was $250.3 Mil. Innovative Industrial Properties's annualized Debt-to-EBITDA for the quarter that ended in Sep. 2024 was 1.19.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for Innovative Industrial Properties's Debt-to-EBITDA or its related term are showing as below:

LTS:0JBD' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.2 Med: 1.36 Max: 3.61
Current: 1.2

During the past 8 years, the highest Debt-to-EBITDA Ratio of Innovative Industrial Properties was 3.61. The lowest was 1.20. And the median was 1.36.

LTS:0JBD's Debt-to-EBITDA is ranked better than
92.13% of 572 companies
in the REITs industry
Industry Median: 7.36 vs LTS:0JBD: 1.20

Innovative Industrial Properties Debt-to-EBITDA Historical Data

The historical data trend for Innovative Industrial Properties's Debt-to-EBITDA can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Innovative Industrial Properties Debt-to-EBITDA Chart

Innovative Industrial Properties Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-EBITDA

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3.61

1.36

1.89

1.30

1.21

Innovative Industrial Properties Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Debt-to-EBITDA	Get a 7-Day Free Trial															1.20	1.22	1.22	1.17	1.19

Competitive Comparison of Innovative Industrial Properties's Debt-to-EBITDA

For the REIT - Industrial subindustry, Innovative Industrial Properties's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Innovative Industrial Properties's Debt-to-EBITDA Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Innovative Industrial Properties's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Innovative Industrial Properties's Debt-to-EBITDA falls into.

Innovative Industrial Properties Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

Innovative Industrial Properties's Debt-to-EBITDA for the fiscal year that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0	+	300.88)	/	248.878
	=	1.21

Innovative Industrial Properties's annualized Debt-to-EBITDA for the quarter that ended in Sep. 2024 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0	+	297.503)	/	250.344
	=	1.19

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Sep. 2024) EBITDA data.

Innovative Industrial Properties (LTS:0JBD) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.

Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

Innovative Industrial Properties Debt-to-EBITDA Related Terms

Thank you for viewing the detailed overview of Innovative Industrial Properties's Debt-to-EBITDA provided by GuruFocus.com. Please click on the following links to see related term pages.

Innovative Industrial Properties Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Innovative Industrial Properties Inc (LTS:0JBD) » Definitions » Debt-to-EBITDA

Comparable Companies

Traded in Other Exchanges

IIPRpA.PFD:USA IIPR:USA 1IK:Germany

Address

1389 Center Drive, Suite 200, Park City, UT, USA, 84098

Website

https://www.innovativeindustrialproperties.com

Innovative Industrial Properties Inc is a real estate investment trust engaged in the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. It conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by Operating Partnership, directly or through subsidiaries. Its property portfolio is spread across the United States.

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