Innovative Industrial Properties, Inc. Operating Margin History
IIPR / Real Estate|9 years of SEC 10-K data (FY2017-FY2025)
46.7% in FY2025 with a 5-year CAGR of -13.0%.
Declined from 56.4% to 46.7% over the past 2 years.
At 46.7%, Innovative Industrial Properties, Inc.'s operating margin ranks #21 of 68 in the Real Estate sector. Operating Margin has declined for 4 consecutive years, from 66.2% in FY2021 to 46.7% in FY2025.
Based on SEC 10-K filings.
Key Data Points
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
- 3-Year Change
- -14.7pp
- 5-Year Change
- -13.0pp
- 10-Year Change
- -
Operating Margin Trend
#21 of 68 in Real EstateTop 31% of 68This company 46.7% Sector average 28.2%
▼
+65.6% above sector average
Key Insights
- Innovative Industrial Properties, Inc.'s operating margin has declined for 4 consecutive years.
- In FY2025, operating margin decreased 14.5% year-over-year.
- Currently 18.5pp above the Real Estate sector average.
- Peak operating margin was recorded in FY2021.
Annual Data
| Year | Operating Margin | YoY Growth |
|---|---|---|
| FY2025 | 46.7% | -14.5% |
| FY2024 | 54.6% | -3.3% |
| FY2023 | 56.4% | -8.1% |
| FY2022 | 61.4% | -7.3% |
| FY2021 | 66.2% | +10.9% |
| FY2020 | 59.7% | +6.9% |
| FY2019 | 55.8% | +54.6% |
| FY2018 | 36.1% | +1139.3% |
| FY2017 | -3.5% | - |
| FY2016 | - | - |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026