First Industrial Realty Trust (BSP:F2RT34) FCF Margin %: 45.63% (As of Mar. 2026) — 14% Below Median


BSP:F2RT34 First Industrial Realty Trust Inc BSP:F2RT34
88 GF Score
Price R$40.56
GF Value R$39.51
Valuation Fairly Valued
! 8 Warning Signs
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What is First Industrial Realty Trust FCF Margin %?

First Industrial Realty Trust BSP:F2RT34 88 FCF Margin % is 45.63% as of Mar. 2026, which is 14% below its 10-year median of 53.23. GuruFocus rates BSP:F2RT34 with a GF Score™ of 88/100 and a GF Value™ of R$39.51 (Fairly Valued). The stock has 8 warning signs investors should review. Among 940 REITs companies, First Industrial Realty Trust ranks better than 71.91% on this metric.

FCF Margin % is calculated as Free Cash Flow divided by its Revenue. First Industrial Realty Trust's Free Cash Flow for the three months ended in Mar. 2026 was R$465 Mil. First Industrial Realty Trust's Revenue for the three months ended in Mar. 2026 was R$1,019 Mil. Therefore, First Industrial Realty Trust's FCF Margin % for the quarter that ended in Mar. 2026 was 45.63%.

As of today, First Industrial Realty Trust's current FCF Yield % is 5.48%.

The historical rank and industry rank for First Industrial Realty Trust's FCF Margin % or its related term are showing as below:

BSP:F2RT34' s FCF Margin % Range Over the Past 10 Years
Min: 46.07   Med: 53.23   Max: 76.11
Current: 62.17


During the past 13 years, the highest FCF Margin % of First Industrial Realty Trust was 76.11%. The lowest was 46.07%. And the median was 53.23%.

BSP:F2RT34's FCF Margin % is ranked better than
71.91% of 940 companies
in the REITs industry
Industry Median: 39.54 vs BSP:F2RT34: 62.17


First Industrial Realty Trust FCF Margin % Related Terms


First Industrial Realty Trust FCF Margin % Historical Data

* Premium members only.

The historical data trend for First Industrial Realty Trust's FCF Margin % 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 FCF Margin % Chart

First Industrial Realty Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
FCF Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 56.06 76.11 49.64 52.65 63.45

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
FCF Margin % 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 50.02 69.97 68.68 64.81 45.63

BSP:F2RT34 vs REXR, CUBE, STAG: FCF Margin % Comparison

For the REIT - Industrial subindustry, First Industrial Realty Trust's FCF Margin %, along with its competitors' market caps and FCF Margin % 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 FCF Margin % vs REITs Industry

For the REITs industry and Real Estate sector, First Industrial Realty Trust's FCF Margin % distribution charts can be found below:

* The bar in red indicates where First Industrial Realty Trust's FCF Margin % falls into.


BSP:F2RT34
88GF Score
First Industrial Realty Trust Inc BSP:F2RT34
FCF Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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First Industrial Realty Trust FCF Margin % Calculation

FCF margin is the ratio of Free Cash Flow divided by net sales or Revenue, usually presented in percent.

First Industrial Realty Trust's FCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

FCF Margin=Free Cash Flow (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=2516.911/3966.709
=63.45 %

First Industrial Realty Trust's FCF Margin for the quarter that ended in Mar. 2026 is calculated as

FCF Margin=Free Cash Flow (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=464.87/1018.867
=45.63 %

* 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 FCF Margin % →
What does a FCF Margin % of 45.63% mean?
First Industrial Realty Trust (BSP:F2RT34) has a FCF Margin % of 45.63% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Industrial Realty Trust and its competitors. This is 14% below median its historical median of 53.23. Over the past decade, First Industrial Realty Trust's FCF Margin % has ranged from 46.07 to 76.11. According to the industry distribution chart, First Industrial Realty Trust ranks #264 out of 940 companies in the REITs industry, placing it in the top 28.1%.
Is First Industrial Realty Trust's FCF Margin % too high?
First Industrial Realty Trust's current FCF Margin % of 45.63% is 14% below median its 10-year median of 53.23. Over the past 10 years, this metric has ranged from a low of 46.07 to a high of 76.11. The REITs industry median FCF Margin % is 39.54. First Industrial Realty Trust's value of 45.63% is 15.4% above this industry median. Based on the distribution chart, First Industrial Realty Trust ranks #264 out of 940 companies in the REITs industry, which is above the industry midpoint. Overall, First Industrial Realty Trust has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does First Industrial Realty Trust's FCF Margin % compare to REXR and CUBE?
According to the REITs industry distribution chart, First Industrial Realty Trust ranks #264 out of 940 companies for FCF Margin %. This puts First Industrial Realty Trust in the upper half of its industry. The industry median FCF Margin % is 39.54. First Industrial Realty Trust's value of 45.63% is 15.4% above this benchmark. Historically, First Industrial Realty Trust's own FCF Margin % has ranged from 46.07 to 76.11 over the past decade. While the company's 10-year median is 53.23 vs. the industry median of 39.54, First Industrial Realty Trust has consistently been above 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 FCF Margin % for a REITs company?
The median FCF Margin % among REITs companies is 39.54, based on 940 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Industrial Realty Trust's current FCF Margin % of 45.63% is 15.4% above 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 FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Industrial Realty Trust and its competitors. For the REITs industry, the median FCF Margin % is 39.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Industrial Realty Trust's current FCF Margin % is 45.63%, which is 14% below median its own 10-year median of 53.23. 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 FCF Margin % is 45.63%, which is 14% below median its 10-year median of 53.23 and 15.4% above the REITs industry median of 39.54. First Industrial Realty Trust's overall GF Score™ is 88/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For First Industrial Realty Trust (BSP:F2RT34), the current FCF Margin % is 45.63% 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:

  • FCF Margin %: 45.63% (14% below median its 10-year median of 53.23)
  • GF Value™: R$39.51 vs. price of R$40.56 (2.7% above fair value)
  • GF Score™: 88/100 with 8 warning signs
  • Industry Position: 15.4% above the REITs median (#264 of 940)

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.
88GF Score

Get the complete analysis for BSP:F2RT34

FCF Margin % 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