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Innovative Industrial Properties (IIPR)
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Innovative Industrial Properties Balance Sheet 2025-2011 | IIPR
Brief balance sheet overview of Innovative Industrial Properties
This overview follows the five latest available annual observations between 2021 and 2025.
The asset base progressed from $2.1 billion to $2.4 billion, equal to +13.7% overall and about 3.3% per year.
The growth rates were balanced: assets changed +13.7%, while liabilities changed +10.6%.
The equity ratio reached 77.9% from 77.3%. A high capital share reduces dependence on liabilities.
Net debt to equity stands at 0.19x; the current burden does not look excessive.
Cash represents 2% of assets versus 4.1% initially, showing how the immediate liquidity reserve changed.
Balance sheet takeaway
Innovative Industrial Properties's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Innovative Industrial Properties
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
346 M | 152 M | 156 M | 208 M | 207 M | 10.7 M | 53.6 M | -13 M | -11.8 M | -508 | - | - | - | - | - |
Long Term Debt |
394 M | 298 M | 296 M | 295 M | 294 M | 137 M | 135 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 156 M | 9.01 M | 4.2 M | - | - | - | - | - | - |
Total Liabilities |
523 M | 442 M | 438 M | 453 M | 473 M | 243 M | 198 M | 17.2 M | 6.48 M | 375 K | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | 9.01 M | 4.16 M | - | - | - | - | - | - |
Retained Earnings |
- | - | - | - | - | - | - | - | -4.46 M | -200 K | - | - | - | - | - |
Total Assets |
2.37 B | 2.38 B | 2.39 B | 2.41 B | 2.08 B | 1.77 B | 746 M | 281 M | 80 M | 376 K | - | - | - | - | - |
Cash and Cash Equivalents |
47.6 M | 146 M | 140 M | 87.1 M | 86.4 M | 126 M | 82.2 M | 13 M | 11.8 M | 33 M | - | - | - | - | - |
Book Value |
1.85 B | 1.94 B | 1.95 B | 1.96 B | 1.61 B | 1.52 B | 548 M | 264 M | 73.5 M | 508 | - | - | - | - | - |
Total Shareholders Equity |
1.85 B | 1.94 B | 1.95 B | 1.96 B | 1.61 B | 1.52 B | 548 M | 264 M | 73.5 M | 60.4 M | - | - | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Innovative Industrial Properties
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | 291 M | 291 M | 290 M | 290 M | 289 M | 298 M | 298 M | 297 M | 297 M | 296 M | 296 M | 296 M | 295 M | 295 M | 295 M | - | 294 M | 294 M | 294 M | 293 M | - | - | 136 M | 136 M | 135 M | 135 M | 135 M | 135 M | 135 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
820 M | 730 M | 499 M | 523 M | 475 M | 425 M | 430 M | 442 M | 449 M | 437 M | 444 M | 438 M | 441 M | 443 M | 455 M | 453 M | 464 M | - | 461 M | 473 M | 591 M | 576 M | 280 M | 243 M | 243 M | 243 M | 243 M | 198 M | 198 M | 198 M | 198 M | 17.2 M | 17.2 M | 17.2 M | 17.2 M | 6.48 M | 6.48 M | 6.48 M | 6.48 M | 2.89 M | 2.89 M | 2.89 M | 2.89 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -145 K | -1.98 M | -3.52 M | -4.46 M | -4.46 M | -4.46 M | -4.46 M | -4.39 M | -4.39 M | -4.39 M | -4.39 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
2.65 B | 2.58 B | 2.39 B | 2.37 B | 2.34 B | 2.31 B | 2.35 B | 2.38 B | 2.4 B | 2.38 B | 2.4 B | 2.39 B | 2.39 B | 2.4 B | 2.41 B | 2.41 B | 2.43 B | - | 2.11 B | 2.08 B | 2.1 B | 2.09 B | 1.8 B | 1.77 B | 1.77 B | 1.77 B | 1.77 B | 746 M | 746 M | 746 M | 746 M | 281 M | 281 M | 281 M | 281 M | 80 M | 80 M | 80 M | 80 M | 63.3 M | 63.3 M | 63.3 M | 63.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
145 M | 205 M | 89.1 M | 47.6 M | 36.7 M | 99.7 M | 128 M | 146 M | 147 M | 121 M | 154 M | 142 M | 118 M | 94.1 M | 39.1 M | 88.6 M | 78.5 M | 46 M | 45 M | 86.4 M | 127 M | 156 M | 122 M | 126 M | 126 M | 126 M | 126 M | 82.2 M | 82.2 M | 82.2 M | 82.2 M | 13 M | 13 M | 13 M | 13 M | 11.8 M | 11.8 M | 11.8 M | 11.8 M | 33 M | 33 M | 33 M | 33 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
1.83 B | 1.85 B | 1.89 B | 1.85 B | 1.86 B | 1.88 B | 1.92 B | 1.94 B | 1.95 B | 1.95 B | 1.96 B | 1.95 B | 1.95 B | 1.95 B | 1.96 B | 1.96 B | 1.97 B | - | 1.65 B | 1.61 B | 1.51 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 548 M | 548 M | 548 M | 548 M | 264 M | 264 M | 264 M | 264 M | 73.5 M | 73.5 M | 73.5 M | 73.5 M | 60.4 M | 60.4 M | 60.4 M | 60.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
1.83 B | 1.85 B | 1.89 B | 1.85 B | 1.86 B | 1.88 B | 1.92 B | 1.94 B | 1.95 B | 1.95 B | 1.96 B | 1.95 B | 1.95 B | 1.95 B | 1.96 B | 1.96 B | 1.97 B | 1.98 B | 1.65 B | 1.61 B | 1.51 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 548 M | 548 M | 548 M | 548 M | 264 M | 264 M | 264 M | 264 M | 73.5 M | 73.5 M | 73.5 M | 73.5 M | 60.4 M | 60.4 M | 60.4 M | 60.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of Innovative Industrial Properties, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit industrial
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|---|---|---|---|---|---|
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|
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|
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|
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TRNO
|
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|
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|
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|
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|
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|
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REXR
|
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PLYM
|
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