First Industrial Realty Trust (BSP:F2RT34) EBIT: R$2,308 Mil (TTM As of Mar. 2026)


BSP:F2RT34 First Industrial Realty Trust Inc BSP:F2RT34
18 GF Score
Price R$40.56
GF Value R$39.51
Valuation Fairly Valued
! 8 Warning Signs
View Full Analysis

What is First Industrial Realty Trust EBIT?

First Industrial Realty Trust BSP:F2RT34 18 EBIT is R$2,308 Mil as of Mar. 2026. GuruFocus rates BSP:F2RT34 with a GF Score™ of 18/100 and a GF Value™ of R$39.51 (Fairly Valued). The stock has 8 warning signs investors should review.

First Industrial Realty Trust's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was R$919 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was R$2,308 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. First Industrial Realty Trust's annualized ROC % for the quarter that ended in Mar. 2026 was 4.57%. First Industrial Realty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3,532.44%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. First Industrial Realty Trust's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.21%.


First Industrial Realty Trust  (BSP:F2RT34) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

First Industrial Realty Trust's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1426.048 * ( 1 - 2.64% )/( (31178.611 + 29553.406)/ 2 )
=1388.4003328/30366.0085
=4.57 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=31032.464 - 1317.77 - ( 425.719 - max(0, 2942.286 - 1478.369+425.719))
=31178.611

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=30187.186 - 1171.551 - ( 194.264 - max(0, 1760.838 - 1223.067+194.264))
=29553.406

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

First Industrial Realty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3674.148/( ( (106.872 + max(-891.243, 0)) + (101.151 + max(-732.035, 0)) )/ 2 )
=3674.148/( ( 106.872 + 101.151 )/ 2 )
=3674.148/104.0115
=3,532.44 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1052.65 + 0 + -2.2737367544323E-13) - (1317.77 + 626.123 + 0)
=-891.243

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1028.804 + 0 + -0.0010000000002037) - (1171.551 + 589.287 + 0)
=-732.035

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

First Industrial Realty Trust's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2307.514/18905.159
=12.21 %

* 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.


First Industrial Realty Trust EBIT Related Terms


First Industrial Realty Trust EBIT Historical Data

* Premium members only.

The historical data trend for First Industrial Realty Trust's EBIT 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.

First Industrial Realty Trust EBIT Chart

First Industrial Realty Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,845.27 1,778.43 1,649.55 2,322.90 1,798.08

First Industrial Realty Trust Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 430.57 436.70 476.77 475.51 918.54

BSP:F2RT34 vs REXR, CUBE, STAG: EBIT Comparison

For the REIT - Industrial subindustry, First Industrial Realty Trust's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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.


First Industrial Realty Trust EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, First Industrial Realty Trust's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where First Industrial Realty Trust's EV-to-EBIT falls into.


BSP:F2RT34
18GF Score
First Industrial Realty Trust Inc BSP:F2RT34
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

First Industrial Realty Trust EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was R$2,308 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of R$2,308 Mil mean?
First Industrial Realty Trust (BSP:F2RT34) has a EBIT of R$2,308 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on First Industrial Realty Trust.
Is First Industrial Realty Trust's EBIT too high?
First Industrial Realty Trust's current EBIT is R$2,308 Mil. Overall, First Industrial Realty Trust has a GF Score™ of 18/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does First Industrial Realty Trust's EBIT compare to REXR and CUBE?
First Industrial Realty Trust's EBIT of R$2,308 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a REITs company?
A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on First Industrial Realty Trust. First Industrial Realty Trust's current EBIT is R$2,308 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Industrial Realty Trust stock overvalued right now?
Based on GuruFocus' analysis, First Industrial Realty Trust (BSP:F2RT34) is currently considered Fairly Valued. The stock's GF Value™ is R$39.51, compared to a current price of R$40.56 — trading 2.7% above its estimated fair value. The current EBIT is R$2,308 Mil. First Industrial Realty Trust's overall GF Score™ is 18/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For First Industrial Realty Trust (BSP:F2RT34), the current EBIT is R$2,308 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Industrial Realty Trust (BSP:F2RT34) Overvalued in 2026?

Based on GuruFocus' analysis, First Industrial Realty Trust stock appears to be overvalued. The current stock price of R$40.56 is trading 2.7% above its estimated GF Value™ of R$39.51. GuruFocus considers First Industrial Realty Trust to be Fairly Valued.

Key valuation signals for BSP:F2RT34:

  • EBIT: R$2,308 Mil
  • GF Value™: R$39.51 vs. price of R$40.56 (2.7% above fair value)
  • GF Score™: 18/100 with 8 warning signs

No single metric tells the full story. See the BSP:F2RT34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


First Industrial Realty Trust Business Description

Industry Real EstateREITs
Other Exchanges FR:USAF5W:Germany
Address One North Wacker Drive, Suite 4200, Chicago, IL, USA, 60606
First Industrial Realty Trust Inc is a real estate investment trust that owns, manages, acquires, sells, develops, and redevelops industrial real estate. Through its fully integrated operating and investing platform, the company provides facilities and customer service to multinational corporations and regional firms that are essential for their supply chains. The company serves a diverse tenant base across various sectors, including e-commerce, logistics, transportation, manufacturing, retail, consumer services, food and beverage, building materials, wholesale goods, health services, and government.
18GF Score

Get the complete analysis for BSP:F2RT34

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$40.56
Price
R$39.51
GF Value