Cash flow First Industrial Realty Trust, Inc.

Equities

FR

US32054K1034

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2025-01-13 pm EST			5-day change	1st Jan Change
49.16 ^USD	+1.44%		-2.11%	-1.93%

Jan. 02	Wedbush Lowers Price Target on First Industrial Realty Trust to $53 From $58, Keeps Neutral Rating	MT
Dec. 17	Broadcom booms as Nasdaq nods

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Published financial data: FIRST INDUSTRIAL REALTY TRUST, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Rental Revenues	422M	438M	473M	532M	602M
Tenant Reimbursements	-	-	-	-	-
Other Revenues, Total	5.17M	7.86M	2.89M	7.61M	15.91M
Total Revenues	427M	445M	476M	540M	618M
Property Expenses	117M	119M	131M	145M	169M
Selling General & Admin Expenses, Total	28.57M	31.95M	34.61M	33.97M	37.12M
Depreciation & Amortization - (IS) - (Collected)	121M	130M	131M	147M	163M
Total Operating Expenses	266M	281M	297M	326M	369M
Operating Income (REIT / Utility Template)	161M	165M	179M	214M	249M
Interest Expense, Total	-53.49M	-54.72M	-47.53M	-52.2M	-77.96M
Interest and Investment Income	-	-	-	-	-
Net Interest Expenses	-53.49M	-54.72M	-47.53M	-52.2M	-77.96M
EBT, Excl. Unusual Items	108M	110M	132M	162M	171M
Restructuring Charges	-	-900K	-	-	-
Gain (Loss) on Sale of Investments	14.82M	6.83M	-	115M	28.03M
Gain (Loss) on Sale of Assets	125M	86.75M	150M	128M	95.65M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	247M	203M	282M	405M	295M
Income Tax Expense	3.41M	2.41M	4.88M	23.36M	8.69M
Earnings From Continuing Operations	244M	200M	277M	382M	286M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	244M	200M	277M	382M	286M
Minority Interest	-5.11M	-4.18M	-6.17M	-22.48M	-11.02M
Net Income - (IS)	239M	196M	271M	359M	275M
Preferred Dividend and Other Adjustments	518K	314K	299K	348K	232K
Net Income to Common Incl Extra Items	238M	196M	271M	359M	275M
Net Income to Common Excl. Extra Items	238M	196M	271M	359M	275M
Per Share Items
Net EPS - Basic	1.89	1.53	2.09	2.72	2.08
Basic EPS - Continuing Operations	1.89	1.53	2.09	2.72	2.08
Basic Weighted Average Shares Outstanding	126M	128M	130M	132M	132M
Net EPS - Diluted	1.88	1.53	2.09	2.72	2.07
Diluted EPS - Continuing Operations	1.88	1.53	2.09	2.72	2.07
Diluted Weighted Average Shares Outstanding	127M	128M	130M	132M	132M
Normalized Basic EPS	0.49	0.51	0.59	0.6	0.72
Normalized Diluted EPS	0.49	0.5	0.59	0.59	0.72
Dividend Per Share	0.92	1	1.08	1.18	1.28
Payout Ratio	49.09	64.97	51.55	43.25	61.63
American Depositary Receipts Ratio (ADR)	0.12	0.12	0.12	0.12	0.12
Supplemental Items
EBITDA	288M	302M	318M	366M	413M
EBITA	166M	171M	182M	217M	283M
EBIT	161M	165M	179M	214M	249M
EBITDAR	291M	305M	322M	370M	417M
Total Revenues (As Reported)	426M	448M	476M	540M	614M
Effective Tax Rate - (Ratio)	1.38	1.19	1.73	5.77	2.95
Current Domestic Taxes	1.01M	5.38M	4.39M	582K	28.74M
Total Current Taxes	1.01M	5.38M	4.39M	582K	28.74M
Deferred Domestic Taxes	2.4M	-2.97M	485K	22.78M	-20.05M
Total Deferred Taxes	2.4M	-2.97M	485K	22.78M	-20.05M
Normalized Net Income	62.1M	64.51M	76.16M	78.57M	95.76M
Interest Capitalized	5.76M	6.85M	12.14M	16.3M	13.79M
Interest on Long-Term Debt	-	-	47.53M	52.2M	77.96M
Supplemental Operating Expense Items
General and Administrative Expenses	28.57M	31.95M	34.61M	33.97M	37.12M
Net Rental Expense, Total	2.44M	3.09M	3.22M	3.46M	3.45M
Imputed Operating Lease Interest Expense	825K	970K	942K	1.02M	1.17M
Imputed Operating Lease Depreciation	1.62M	2.12M	2.28M	2.44M	2.28M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	8.38M	12.93M	13.72M	15.72M	16.67M
Total Stock-Based Compensation	8.38M	12.93M	13.72M	15.72M	16.67M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Gross Property Plant And Equipment	3.86B	4.11B	4.67B	5.37B	5.74B
Accumulated Depreciation	-805M	-832M	-868M	-921M	-1.01B
Net Property Plant And Equipment	3.05B	3.28B	3.8B	4.45B	4.73B
Total Real Estate Assets	3.05B	3.28B	3.8B	4.45B	4.73B
Cash And Equivalents	21.12M	162M	58.59M	133M	43.84M
Accounts Receivable, Total	141M	90.28M	104M	130M	155M
Other Intangibles, Total	28.53M	25.21M	21.32M	24.09M	21.52M
Notes Receivable (Collected)	-	-	-	-	-
Restricted Cash	132M	37.57M	189K	11.87M	-
Other Current Assets, Total	-	15.66M	151M	197M	25.8M
Trading Asset Securities, Total	-	-	-	-	-
Deferred Charges Long-Term	2.3M	1.05M	4.58M	3.28M	2.04M
Other Long-Term Assets, Total	144M	180M	36.05M	8.82M	199M
Total Assets	3.52B	3.79B	4.18B	4.95B	5.18B
Liabilities
Current Portion of Long-Term Debt	-	333K	2.67M	253K	776K
Current Portion of Leases	2.32M	2.54M	2.79M	2.77M	2.85M
Short-Term Borrowings	-	106K	-	-	-
Long-Term Debt	1.49B	1.61B	1.61B	2.07B	2.22B
Long-Term Leases	20.05M	20.28M	19.8M	19.5M	19.14M
Accounts Payable, Total	111M	106M	150M	179M	131M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	30.57M	33.7M	37.18M	41.26M	44.2M
Unearned Revenue Non Current	57.53M	62.09M	98.59M	100M	107M
Other Non Current Liabilities	11.89M	11.06M	9.25M	15.15M	11.85M
Total Liabilities	1.72B	1.84B	1.93B	2.42B	2.54B
Common Stock, Total	1.27M	1.29M	1.32M	1.32M	1.32M
Additional Paid In Capital	2.14B	2.22B	2.38B	2.4B	2.41B
Distributions In Excess Of Earnings	-371M	-306M	-178M	23.13M	128M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	-6.88M	-16.95M	-4.24M	33.41M	22.27M
Total Common Equity	1.76B	1.9B	2.19B	2.46B	2.56B
Minority Interest	33.86M	44.59M	53.56M	71.1M	72.13M
Total Equity	1.8B	1.95B	2.25B	2.53B	2.64B
Total Liabilities And Equity	3.52B	3.79B	4.18B	4.95B	5.18B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	127M	129M	132M	132M	132M
ECS Total Common Shares Outstanding	127M	129M	132M	132M	132M
Book Value / Share	13.89	14.74	16.66	18.61	19.37
Tangible Book Value	1.74B	1.88B	2.17B	2.44B	2.54B
Tangible Book Value Per Share	13.67	14.55	16.5	18.43	19.21
Total Debt	1.51B	1.63B	1.64B	2.09B	2.25B
Net Debt	1.49B	1.47B	1.58B	1.96B	2.2B
Debt Equivalent Oper. Leases	19.54M	24.74M	25.78M	27.66M	27.59M
Minority Interest, Total (Incl. Fin. Div)	33.86M	44.59M	53.56M	71.1M	72.13M
Equity Method Investments, Total	18.21M	45.7M	36.05M	8.82M	44.66M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	957M	1.09B	1.39B	1.65B	1.76B
Buildings, Total	2.78B	2.92B	3.02B	3.44B	3.71B
Full Time Employees	155	153	162	157	156
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	239M	196M	271M	359M	275M
Depreciation, Depletion & Amortization	122M	132M	136M	149M	130M
Amortization of Goodwill and Intangible Assets - (CF)	5.02M	6.24M	3.06M	3.42M	34.09M
Total Depreciation, Depletion & Amortization	127M	138M	139M	152M	165M
Amortization of Deferred Charges, Total	3.22M	3.43M	3.42M	3.19M	3.63M
(Gain) Loss On Sale of Asset - (CF)	-125M	-86.75M	-150M	-128M	-95.65M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-276K	79K	161K	3.09M	-24.81M
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Accounts Receivable	-11.52M	3.86M	-472K	-4.85M	-2.36M
Change in Accounts Payable	22.1M	-2.67M	13.95M	31.31M	-4.42M
Other Operating Activities	-8.93M	-11.27M	-9.91M	-4.98M	-10.9M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	246M	240M	267M	411M	305M
Acquisition of Real Estate Assets, Total	-447M	-419M	-667M	-828M	-493M
Sale of Real Estate Assets, Total	254M	204M	235M	175M	120M
Net Sale / Acquisition of Real Estate Assets	-193M	-215M	-432M	-652M	-373M
Investment in Marketable and Equity Securities, Total	8.5M	-22.81M	19.86M	23.74M	-12.35M
Other Investing Activities, Total	-20.93M	-14.08M	-4.4M	-563K	6.62M
Cash from Investing	-205M	-252M	-417M	-629M	-378M
Long-Term Debt Issued, Total	565M	547M	289M	1.18B	374M
Total Debt Issued	565M	547M	289M	1.18B	374M
Long-Term Debt Repaid, Total	-380M	-435M	-274M	-725M	-218M
Total Debt Repaid	-380M	-435M	-274M	-725M	-218M
Issuance of Common Stock	-	78.72M	146M	12.82M	-
Repurchase of Common Stock	-4.38M	-5.94M	-5.13M	-2.94M	-2.51M
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-117M	-127M	-140M	-155M	-169M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-117M	-127M	-140M	-155M	-169M
Other Financing Activities, Total	-954K	958K	-6.42M	-9.58M	-11.58M
Cash from Financing	62.2M	58.25M	9.05M	305M	-27.78M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	102M	46.94M	-141M	86.34M	-101M
Supplemental Items
Cash Interest Paid	47.8M	48.85M	44.18M	46.44M	72.88M
Cash Income Tax Paid (Refund)	3.58M	1.57M	3.37M	3.76M	27.75M
Net Debt Issued / Repaid	185M	112M	14.55M	460M	156M
Levered Free Cash Flow	51.6M	295M	308M	221M	245M
Unlevered Free Cash Flow	81.82M	326M	334M	251M	290M
Change In Net Working Capital	154M	-72.3M	-69.57M	50.97M	46.75M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.02	2.81	2.81	2.93	3.07
Return on Total Capital	3.2	2.99	3	3.14	3.27
Return On Equity %	14.02	10.69	13.21	15.97	11.07
Return on Common Equity	13.97	10.67	13.21	15.42	10.93
Margin Analysis
Gross Profit Margin %	72.72	73.24	72.42	73.22	72.61
SG&A Margin	6.68	7.17	7.27	6.29	6
EBITDA Margin %	67.41	67.89	66.86	67.83	66.86
EBITA Margin %	38.85	38.36	38.29	40.25	45.76
EBIT Margin %	37.67	36.96	37.65	39.62	40.25
Income From Continuing Operations Margin %	57.06	44.94	58.21	70.69	46.24
Net Income Margin %	55.87	44	56.92	66.53	44.45
Net Avail. For Common Margin %	55.75	43.93	56.85	66.46	44.42
Normalized Net Income Margin	14.53	14.48	16	14.55	15.49
Levered Free Cash Flow Margin	12.07	66.26	64.71	40.99	39.61
Unlevered Free Cash Flow Margin	19.14	73.17	70.23	46.45	46.9
Asset Turnover
Asset Turnover	0.13	0.12	0.12	0.12	0.12
Fixed Assets Turnover	0.14	0.14	0.13	0.13	0.13
Receivables Turnover (Average Receivables)	3.89	4.96	4.88	4.55	4.23
Short Term Liquidity
Current Ratio	2.03	2.14	1.63	2.12	1.26
Quick Ratio	1.12	1.77	0.84	1.18	1.11
Operating Cash Flow to Current Liabilities	1.7	1.68	1.38	1.84	1.71
Days Sales Outstanding (Average Receivables)	93.8	73.83	74.86	80.2	86.38
Average Days Payable Outstanding	297.6	334.3	356.83	415.38	333.51
Long Term Solvency
Total Debt/Equity	83.92	83.78	72.73	82.55	85.27
Total Debt / Total Capital	45.63	45.59	42.11	45.22	46.03
LT Debt/Equity	83.79	83.63	72.49	82.43	85.14
Long-Term Debt / Total Capital	45.56	45.5	41.97	45.16	45.95
Total Liabilities / Total Assets	48.9	48.65	46.2	48.93	49.09
EBIT / Interest Expense	3.01	3.01	3.77	4.1	3.19
EBITDA / Interest Expense	5.43	5.58	6.77	7.08	5.35
(EBITDA - Capex) / Interest Expense	5.43	5.58	6.77	7.08	5.35
Total Debt / EBITDA	5.19	5.34	5.09	5.65	5.39
Net Debt / EBITDA	5.12	4.81	4.9	5.29	5.29
Total Debt / (EBITDA - Capex)	5.19	5.34	5.09	5.65	5.39
Net Debt / (EBITDA - Capex)	5.12	4.81	4.9	5.29	5.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.88	4.21	6.33	13.38	14.51
Gross Profit, 1 Yr. Growth %	8.37	4.95	4.94	14.63	13.56
EBITDA, 1 Yr. Growth %	8.52	4.95	4.76	15.04	12.87
EBITA, 1 Yr. Growth %	11.37	2.9	5.79	19.19	14.66
EBIT, 1 Yr. Growth %	11.88	2.24	7.92	19.31	16.33
Earnings From Cont. Operations, 1 Yr. Growth %	45.74	-17.92	38.47	37.68	-25.1
Net Income, 1 Yr. Growth %	46.27	-17.92	38.27	32.52	-23.48
Diluted EPS Before Extra, 1 Yr. Growth %	43.51	-18.62	36.42	30.2	-23.83
Normalized Net Income, 1 Yr. Growth %	19.44	3.88	16.4	3.16	21.87
Net Property, Plant and Equip., 1 Yr. Growth %	6.58	7.54	15.93	16.91	6.36
Accounts Receivable, 1 Yr. Growth %	84.56	4.7	15.01	25.25	19.2
Total Assets, 1 Yr. Growth %	11.97	7.76	10.21	18.55	4.47
Common Equity, 1 Yr. Growth %	7.22	7.84	15.35	12.05	4.22
Tangible Book Value, 1 Yr. Growth %	7.43	8.16	15.76