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The historical rank and industry rank for Innovative Industrial Properties's EV-to-OCF or its related term are showing as below:
IIPR'
s EV-to-OCF Range Over the Past 10 Years
Min: 6.66 Med: 15.64 Max: 58.12
Current: 10.7
During the past 10 years, the highest EV-to-OCF of Innovative Industrial Properties was 58.12. The lowest was 6.66. And the median was 15.64.
IIPR's EV-to-OCF is ranked better than 70.23% of 927
companies
in the REITs industry
Industry Median: 18.4
vs IIPR: 10.70
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Innovative Industrial Properties's PE Ratio (TTM) for today is calculated as:
Innovative Industrial Properties's share price for today is $60.49.
Innovative Industrial Properties's Earnings per Share (Diluted) 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 $3.910.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Innovative Industrial Properties EV-to-OCF Related Terms
Innovative Industrial Properties EV-to-OCF Historical Data
* 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.
For the REIT - Industrial subindustry, Innovative Industrial Properties's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's EV-to-OCF falls into.
Innovative Industrial Properties's current Enterprise Value is $2,138.9 Mil.
Innovative Industrial Properties's Cash Flow from Operations 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 $200.0 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.
Innovative Industrial Properties (IIPR) has a EV-to-OCF of 10.70 as of Jul. 30, 2026. This is 32% below median its historical median of 15.64. Over the past decade, Innovative Industrial Properties' EV-to-OCF has ranged from 6.66 to 58.12. According to the industry distribution chart, Innovative Industrial Properties ranks #276 out of 927 companies in the REITs industry, placing it in the top 29.8%.
Is Innovative Industrial Properties' EV-to-OCF too high?
Innovative Industrial Properties' current EV-to-OCF of 10.70 is 32% below median its 10-year median of 15.64. Over the past 10 years, this metric has ranged from a low of 6.66 to a high of 58.12. The REITs industry median EV-to-OCF is 18.40. Innovative Industrial Properties' value of 10.70 is 41.8% below this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #276 out of 927 companies in the REITs industry, which is above the industry midpoint. Overall, Innovative Industrial Properties has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' EV-to-OCF compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #276 out of 927 companies for EV-to-OCF. This puts Innovative Industrial Properties in the upper half of its industry. The industry median EV-to-OCF is 18.40. Innovative Industrial Properties' value of 10.70 is 41.8% below this benchmark. Historically, Innovative Industrial Properties' own EV-to-OCF has ranged from 6.66 to 58.12 over the past decade. While the company's 10-year median is 15.64 vs. the industry median of 18.40, Innovative Industrial Properties has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a REITs company?
The median EV-to-OCF among REITs companies is 18.40, based on 927 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current EV-to-OCF of 10.70 is 41.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the REITs industry, the median EV-to-OCF is 18.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current EV-to-OCF is 10.70, which is 32% below median its own 10-year median of 15.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Innovative Industrial Properties stock overvalued right now?
Based on GuruFocus' analysis, Innovative Industrial Properties (IIPR) is currently considered Fairly Valued. The stock's GF Value™ is $64.94, compared to a current price of $60.49 — trading 6.9% below its estimated fair value. The current EV-to-OCF is 10.70, which is 32% below median its 10-year median of 15.64 and 41.8% below the REITs industry median of 18.40. Innovative Industrial Properties' overall GF Score™ is 78/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current EV-to-OCF is 10.70 as of Jul. 30, 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 Innovative Industrial Properties (IIPR) Overvalued in 2026?
Based on GuruFocus' analysis, Innovative Industrial Properties stock appears to be undervalued.
The current stock price of $60.49 is trading 6.9% below its estimated GF Value™ of $64.94.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
EV-to-OCF: 10.70 (32% below median its 10-year median of 15.64)
GF Value™: $64.94 vs. price of $60.49 (6.9% below fair value)
Industry Position: 41.8% below the REITs median (#276 of 927)
No single metric tells the full story. See the IIPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Innovative Industrial Properties Business Description
Innovative Industrial Properties Inc is a real estate investment trust focused on the acquisition, ownership and management of specialized industrial and commercial properties in the United States. Its properties are prominently leased to state-licensed operators for their regulated cannabis facilities. The company conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by its Operating Partnership, directly or through subsidiaries. Its segments are: Cannabis Portfolio and Life Science Portfolio, with the majority of revenue coming from the Cannabis Portfolio segment, which involves acquiring, developing, and leasing real estate to regulated cannabis operators on long-term triple-net leases.
78GF Score
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EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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