First Industrial Realty Trust Inc (FR) stock analysis

P/E below its 5-year median

First Industrial Realty Trust's P/E of 20.5 is below its own 5-year median of 24.5.

P/E below the industry

First Industrial Realty Trust's P/E of 20.5 is below the Miscellaneous Investing median of 26.3.

EV/EBITDA below its 5-year median

First Industrial Realty Trust's EV/EBITDA of 13.3 is below its 5-year median of 15.7.

P/B above the industry

First Industrial Realty Trust's price-to-book of 2.64 is above the Miscellaneous Investing median of 1.20.

Trading above fair value

The share price of $55.26 is above our fair value estimate of $54.79.

Margin of safety under 20%

The price is 0.9% above fair value, so there is no margin of safety.

Revenue growing 10%+ a year

Revenue grew 10.4% a year over the last three fiscal years.

EPS growing under 10% a year

Diluted EPS grew -11.7% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 50.9% over the last twelve months, against a 5-year average of 4.8% a year.

Growing faster than the industry

Revenue grew 8.5% over the last twelve months; the Miscellaneous Investing median is 4.6%.

Guidance raised

First Industrial Realty Trust raised its 2026 FFO Before Advisory Costs Related to a Contested Proxy Campaign outlook on Jul 22, 2026.

Gross margin trend

This company does not report gross profit.

Return on equity under 15%

Return on equity was 13.2% over the last twelve months and averaged 12.0% over five years; we look for 15% on both.

Return on invested capital

Needs operating income and invested capital.

Return on equity above the industry

First Industrial Realty Trust's return on equity of 13.2% is above the Miscellaneous Investing median of 3.1%.

Earnings grew over 5 years

Net income grew 4.8% a year on average over the last five fiscal years.

Net margin below its 5-year average

Net margin was 46.1% over the last twelve months, against a 5-year average of 49.0%.

Net margin above the industry

First Industrial Realty Trust's net margin of 46.1% is above the Miscellaneous Investing median of 10.3%.

No debt

First Industrial Realty Trust has no borrowings on its latest balance sheet.

Debt not rising

With no debt today, leverage cannot have risen.

Debt covered by cash flow

There is no debt to cover.

Interest well covered

No meaningful interest expense to cover.

Short-term liquidity

The balance sheet is not split into current and non-current items.

Elevated bankruptcy risk

The Altman Z-score is 1.67; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

First Industrial Realty Trust paid dividends worth 3.5% of the share price over the last twelve months.

Yield below Treasuries

The 3.5% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; First Industrial Realty Trust yields 3.5%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 10 fiscal years.

Covered by earnings

Dividends take 71.8% of net income.

Cash-flow cover

Needs dividends paid and free cash flow.