The historical rank and industry rank for Innovative Industrial Properties's EV-to-FCF or its related term are showing as below:
IIPR'
s EV-to-FCF Range Over the Past 10 Years
Min: 6.66 Med: 15.79 Max: 58.12
Current: 11.02
During the past 10 years, the highest EV-to-FCF of Innovative Industrial Properties was 58.12. The lowest was 6.66. And the median was 15.79.
IIPR's EV-to-FCF is ranked better than 83.47% of 738
companies
in the REITs industry
Industry Median: 22.97
vs IIPR: 11.02
EV-to-FCF 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-FCF 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 $62.70.
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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Innovative Industrial Properties EV-to-FCF Related Terms
Innovative Industrial Properties EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's EV-to-FCF falls into.
Innovative Industrial Properties's current Enterprise Value is $2,203.0 Mil.
Innovative Industrial Properties's Free Cash Flow 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-FCF of 11.02 as of Jul. 01, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Innovative Industrial Properties and its competitors. This is 30% below median its historical median of 15.79. Over the past decade, Innovative Industrial Properties' EV-to-FCF has ranged from 6.66 to 58.12. According to the industry distribution chart, Innovative Industrial Properties ranks #122 out of 738 companies in the REITs industry, placing it in the top 16.5%.
Is Innovative Industrial Properties' EV-to-FCF too high?
Innovative Industrial Properties' current EV-to-FCF of 11.02 is 30% below median its 10-year median of 15.79. 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-FCF is 22.97. Innovative Industrial Properties' value of 11.02 is 52% below this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #122 out of 738 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Innovative Industrial Properties has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' EV-to-FCF compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #122 out of 738 companies for EV-to-FCF. This places Innovative Industrial Properties in the top 17% of its industry — outperforming the majority of peers. The industry median EV-to-FCF is 22.97. Innovative Industrial Properties' value of 11.02 is 52% below this benchmark. Historically, Innovative Industrial Properties' own EV-to-FCF has ranged from 6.66 to 58.12 over the past decade. While the company's 10-year median is 15.79 vs. the industry median of 22.97, 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-FCF for a REITs company?
The median EV-to-FCF among REITs companies is 22.97, based on 738 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current EV-to-FCF of 11.02 is 52% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median EV-to-FCF is 22.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current EV-to-FCF is 11.02, which is 30% below median its own 10-year median of 15.79. 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 $64.73, compared to a current price of $62.70 — trading 3.1% below its estimated fair value. The current EV-to-FCF is 11.02, which is 30% below median its 10-year median of 15.79 and 52% below the REITs industry median of 22.97. Innovative Industrial Properties' overall GF Score™ is 77/100 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current EV-to-FCF is 11.02 as of Jul. 01, 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 $62.70 is trading 3.1% below its estimated GF Value™ of $64.73.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
EV-to-FCF: 11.02 (30% below median its 10-year median of 15.79)
GF Value™: $64.73 vs. price of $62.70 (3.1% below fair value)
Industry Position: 52% below the REITs median (#122 of 738)
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.
77GF Score
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