Company / Operating Margin
Innovative Industrial Properties, Inc. Operating Margin History
FY2017-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
46.7%
FY2025
5-year range
46.7% / 59.7%
FY2021-FY2025
Trend
-14.5%
vs FY2024
Sector context
#22 of 70
Real Estate
What the data says
At 46.7%, Innovative Industrial Properties, Inc.'s operating margin ranks #22 of 70 in the Real Estate sector. Operating Margin has declined for 3 consecutive years, from 59.7% in FY2022 to 46.7% in FY2025.
Based on SEC 10-K filings.
46.7% in FY2025 with a 5-year CAGR of +10.6%.
Declined from 56.4% to 46.7% over the past 2 years.
Real Estate sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -13.0pp
- 5-Year Change
- +10.6pp
- 10-Year Change
- -
Sector benchmark
#22 of 70 in Real EstateTop 31% of 70This company 46.7% Sector average 27.4%
▼
+70.3% above sector average
Key checks
Key Insights
- Innovative Industrial Properties, Inc.'s operating margin has declined for 3 consecutive years.
- In FY2025, operating margin decreased 14.5% year-over-year.
- Currently 19.3pp above the Real Estate sector average.
- Peak operating margin was recorded in FY2022.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 46.7% | -14.5% |
| FY2024 | 54.6% | -3.3% |
| FY2023 | 56.4% | -5.4% |
| FY2022 | 59.7% | +6.9% |
| FY2021 | 55.8% | +54.6% |
| FY2020 | 36.1% | +1140.3% |
| FY2019 | -3.5% | +0.0% |
| FY2018 | -3.5% | +0.1% |
| FY2017 | -3.5% | - |
| FY2016 | - | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026