What is Innovative Industrial Properties 3-Year ROIIC %?
Innovative Industrial PropertiesIIPRPA.PFD -0.72%77 3-Year ROIIC % is 373.54 as of Dec. 2025, which is 4450% above its 10-year median of 8.21. GuruFocus rates IIPRPA.PFD with a GF Score™ of 77/100. The stock has 12 warning signs investors should review. Among 698 REITs companies, Innovative Industrial Properties ranks better than 99.57% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Innovative Industrial Properties's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 373.54%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Innovative Industrial Properties 3-Year ROIIC % Related Terms
Innovative Industrial Properties 3-Year ROIIC % 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.
IIPRPA.PFD vs SMA, ILPT, LXP: 3-Year ROIIC % Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's 3-Year ROIIC % falls into.
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 127.975 (Dec. 2025) - 166.016 (Dec. 2022) )
/
( 2356.775 (Dec. 2025) - 2366.959 (Dec. 2022) )
=
-38.041
/
-10.183999999999
=
373.54%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Innovative Industrial Properties (IIPRPA.PFD) has a 3-Year ROIIC % of 373.54 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Innovative Industrial Properties and its competitors. This is 4450% above median its historical median of 8.21. Over the past decade, Innovative Industrial Properties' 3-Year ROIIC % has ranged from 4.16 to 373.54. According to the industry distribution chart, Innovative Industrial Properties ranks #3 out of 698 companies in the REITs industry, placing it in the top 0.40000000000001%.
Is Innovative Industrial Properties' 3-Year ROIIC % too high?
Innovative Industrial Properties' current 3-Year ROIIC % of 373.54 is 4450% above median its 10-year median of 8.21. Over the past 10 years, this metric has ranged from a low of 4.16 to a high of 373.54. The REITs industry median 3-Year ROIIC % is 3.51. Innovative Industrial Properties' value of 373.54 is 10557.3% above this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #3 out of 698 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, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' 3-Year ROIIC % compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #3 out of 698 companies for 3-Year ROIIC %. This places Innovative Industrial Properties in the top 0% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.51. Innovative Industrial Properties' value of 373.54 is 10557.3% above this benchmark. Historically, Innovative Industrial Properties' own 3-Year ROIIC % has ranged from 4.16 to 373.54 over the past decade. While the company's 10-year median is 8.21 vs. the industry median of 3.51, Innovative Industrial Properties 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 3-Year ROIIC % for a REITs company?
The median 3-Year ROIIC % among REITs companies is 3.51, based on 698 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current 3-Year ROIIC % of 373.54 is 10557.3% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current 3-Year ROIIC % is 373.54, which is 4450% above median its own 10-year median of 8.21. 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?
Innovative Industrial Properties (IIPRPA.PFD) has a current 3-Year ROIIC % of 373.54. The current 3-Year ROIIC % is 373.54, which is 4450% above median its 10-year median of 8.21 and 10557.3% above the REITs industry median of 3.51. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Innovative Industrial Properties (IIPRPA.PFD), the current 3-Year ROIIC % is 373.54 as of Dec. 2025. 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.
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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