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FR stock logo

FR

First Industrial Realty Trust, Inc.

$62.76
-0.82
 (-1.29%)
Exchange:  NYSE
Market Cap:  8.32B
Shares Outstanding:  18.627M
Delayed data
Calculate FR Intrinsic Value
5-year outlook →
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Real Estate
Industry:  REIT – Industrial
   
CEO:  Peter E. Baccile
Full Time Employees:  152
Address: 
One North Wacker Drive
Chicago
IL
60606-6627
US
Website:  https://www.firstindustrial.com
First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. In total, we own and have under development approximately 71.6 million square feet of industrial space concentrated in 15 target MSAs as of December 31, 2025. First Industrial Realty Trust, Inc. was incorporated in 1993 in Maryland, USA,

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Revenue Segmentation

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EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/04/23 — 1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue614,027669,641727,076
Gross Profit448,372486,820164,335
EBITDA501,172557,034568,829
Operating Income244,633272,417307,706
Net Income274,816287,343247,443

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets5,175,7655,261,4265,688,081
Total Liabilities2,540,6602,515,3982,929,151
Total Stockholders Equity2,562,9752,665,6072,758,930
Total Debt2,246,2962,226,9112,572,846
Cash and Cash Equivalents43,84444,51278,032

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow304,815352,4880
Capital Expenditure000
Free Cash Flow304,813352,4880
Net Income285,837295,988247,443
Net Change in Cash-101,2747,838-51,682

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)1,079,775.073Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)1,118,035.447Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)1,101,000Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)932,392.618Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)965,430.693Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)950,720.477Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)288,078.271Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)301,428.049Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)295,483.920Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)67,995.583Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)70,404.915Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)69,332.159Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)2.230Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)2.270Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)2.170Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)3Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
669.641M  ?P/S
 (TTM)
: 
11.32
?Net Income
 (TTM)
: 
287.343M  ?P/E
 (TTM)
: 
24.55
?Enterprise Value
 (TTM)
: 
10.976B  ?EV/FCF
 (TTM)
: 
22.73
?Dividend Yield
 (TTM)
: 
0.03  ?Payout Ratio
 (TTM)
: 
0.85
?ROE
 (TTM)
: 
0.13  ?ROIC
 (TTM)
: 
0.05
?Net Debt
 (TTM)
: 
2.184B  ?Debt/Equity
 (TTM)
: 
0.94
?P/B
 (TTM)
: 
3.05  ?Current Ratio
 (TTM)
: 
0.69

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
26.15Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

Strengths (preview)

  • Strong Financial Performance: FR reported solid results in the Q2 2025 earnings call, with key financial metrics indicating robust revenue and net income growth. This performance aligns with positive operating cash flow trends from the cash flow statements, reflecting efficient operational management.
  • High Leasing Activity: The earnings call highlighted significant leasing momentum, with a high volume of new and renewal leases. This demonstrates strong demand for FR’s industrial properties and supports sustained revenue streams.
  • Strategic Portfolio Positioning: As per the company profile and earnings call summary, FR benefits from a well-diversified portfolio within the industrial real estate sector, focusing on high-demand logistics and distribution centers, which positions it favorably against industry trends.
  • Healthy Profit Margins: Key metrics such as gross profit margin TTM and net profit margin TTM indicate strong profitability compared to operational costs, providing a solid foundation for reinvestment and shareholder returns.

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MARKETSnap estimates FR intrinsic value between $39.17 – $40.71 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

[intrinsic_calculator]

Common questions about FR valuation

Is First Industrial Realty Trust, Inc. (FR) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for First Industrial Realty Trust, Inc. (FR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is FR a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is FR’s P/E ratio?

You can see FR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for FR?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is FR a good long-term investment?

Whether FR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

FR

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.29
MARKETSnap

Trading Metrics:

Open: 63.03   Previous Close: 63.58
Day Low: 62.52   Day High: 63.25
Year Low: 47.36   Year High: 64.66
Price Avg 50: 62.3   Price Avg 200: 58.45
Volume: 394105   Average Volume: 941275

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FR full analysis

16/10/2025

Welcome to MARKETSNAP’s SWOT analysis for First Industrial Realty Trust, Inc., also known by its ticker FR. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into this industrial real estate player to uncover what makes it tick, what’s holding it back, and where it could be headed. Let’s break it down with a full SWOT analysis, some recent updates, and key insights to help you decide…

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See in Nexus

Relevant news

A Look at First Industrial Realty Trust Inc (FR) After 3.4% Decline -- GF Value $61.79 vs Price $60.70
17-06-2026 20:29
A Look at First Industrial Realty Trust Inc (FR) After 3.4% Decline -- GF Value $61.79 vs Price $60.70
First Industrial Realty: It's Time To Put It On Hold (Rating Downgrade)
02-06-2026 17:26
First Industrial Realty: It's Time To Put It On Hold (Rating Downgrade)
First Industrial Realty Trust Inc (FR) Shares Fall 3.5% -- What GF Score of 89 Tells Investors
01-06-2026 20:52
First Industrial Realty Trust Inc (FR) Shares Fall 3.5% -- What GF Score of 89 Tells Investors
First Industrial Realty Trust (FR) Lags Q1 FFO Estimates
22-04-2026 20:01
First Industrial Realty Trust (FR) Lags Q1 FFO Estimates
First Industrial Realty Trust Reports First Quarter 2026 Results
22-04-2026 16:40
First Industrial Realty Trust Reports First Quarter 2026 Results
Asset Management One Co. Ltd. Sells 8,999 Shares of First Industrial Realty Trust, Inc. $FR
21-04-2026 03:26
Asset Management One Co. Ltd. Sells 8,999 Shares of First Industrial Realty Trust, Inc. $FR

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