Financials First Industrial Realty Trust, Inc.

Equities

FR

US32054K1034

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2025-01-10 pm EST			5-day change	1st Jan Change
48.46 ^USD	-1.82%		-3.50%	-3.33%

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

Projected Income Statement: First Industrial Realty Trust, Inc.

income-statement-evolution-chart FIRST-INDUSTRIAL-REALTY-T

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	426	448	476.3	539.9	614	664	708.7	763.5
Change	-	5.17%	6.31%	13.36%	13.72%	8.14%	6.73%	7.73%
EBITDA ¹	280.4	296.9	310.2	361.3	411.3	447.2	484.2	523.6
Change	-	5.92%	4.47%	16.47%	13.83%	8.73%	8.27%	8.15%
EBIT ¹	159.6	166.3	179.4	214	244.6	270.5	296.5	326.6
Change	-	4.23%	7.86%	19.25%	14.33%	10.59%	9.59%	10.14%
Interest Paid ¹	-50.27	-51.29	-44.1	-49.01	-74.34	-84.66	-84.28	-88.74
Earnings before Tax (EBT) ¹	231.1	198.4	282.2	290	262.3	305.4	268.6	297.6
Change	-	-14.14%	42.26%	2.77%	-9.55%	16.43%	-12.06%	10.81%
Net income ¹	238.8	196	271	359.1	274.8	265.5	201.6	227.9
Change	-	-17.92%	38.27%	32.52%	-23.48%	-3.4%	-24.06%	13.06%
Announcement Date	2/12/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	110.8	110.3	109.2	116.2	112.3	116.3	117.4	121.1	121.6	125.5	130	139.8	144.6	149.4	152.2	155.1	157.3	162.3	164.1	167.6	170.4	174.7	174.5	177.9	180.6	187.6	189.2	193
Change	-	-0.37%	-1.03%	6.4%	-3.36%	3.54%	0.98%	3.14%	0.39%	3.26%	3.61%	7.46%	3.48%	3.33%	1.87%	1.89%	1.4%	3.18%	1.15%	2.14%	1.65%	2.52%	-0.14%	1.96%	1.52%	3.9%	0.82%	2.04%
EBITDA ¹	72.02	73.19	72.87	78.19	72.7	74.38	77.12	79.07	79.65	81.34	86.91	95.43	97.64	97.1	102.8	104.8	106.6	104.2	112.5	114.8	116.9	115.7	120.8	124	125.5	125.7	132.2	134.8
Change	-	1.61%	-0.43%	7.3%	-7.03%	2.32%	3.68%	2.54%	0.73%	2.11%	6.85%	9.8%	2.31%	-0.54%	5.9%	1.87%	1.73%	-2.25%	8.02%	1.99%	1.85%	-0.98%	4.39%	2.61%	1.27%	0.09%	5.23%	1.92%
EBIT ¹	40.82	41.08	40.64	43.98	40.6	42.48	44.74	45.94	46.27	47.45	50.17	57.1	58.95	57.33	61.01	62.38	63.91	61.23	68.04	69.81	73.09	70.72	75.57	77.52	-	-	-	-
Change	-	0.62%	-1.07%	8.23%	-7.7%	4.63%	5.31%	2.7%	0.71%	2.55%	5.75%	13.81%	3.23%	-2.74%	6.42%	2.26%	2.44%	-4.19%	11.13%	2.59%	4.7%	-3.24%	6.85%	2.59%	-100%	-	-	-
Charge d'intérêts ¹	-12.71	-12.8	-12.28	-12.78	-13.43	-12.67	-11.85	-9.849	-9.729	-9.636	-11.1	-13.09	-15.91	-16.12	-17.9	-19.91	-20.41	-20.9	-21.13	-20.84	-20.72	-20.87	-21.15	-21.55	-22.28	-23.03	-23.8	-24.05
Earnings before Tax (EBT) ¹	98.89	41.48	36.69	36.83	83.37	63.5	54.8	44.19	119.7	37.06	39.66	127.1	86.2	40.31	55.26	75.94	90.81	70.28	52.14	104.9	48.2	47.23	51.89	52.41	51.83	50.82	55.23	55.45
Change	-	-58.05%	-11.55%	0.38%	126.38%	-23.84%	-13.7%	-19.36%	170.89%	-69.05%	7.04%	220.48%	-32.18%	-53.24%	37.09%	37.43%	19.58%	-22.62%	-25.8%	101.13%	-54.04%	-2.01%	9.87%	1%	-1.11%	-1.95%	8.68%	0.4%
Net income ¹	96.86	40.58	35.67	35.96	83.73	62.14	51.94	42.45	114.4	36.23	117	123.9	82	55.92	54.64	75.01	89.2	68.41	51.28	99.29	46.99	46.21	50.4	52.12	53.38	51.69	56.59	57.97
Change	-	-58.11%	-12.09%	0.81%	132.84%	-25.79%	-16.42%	-18.27%	169.56%	-68.34%	222.94%	5.9%	-33.81%	-31.8%	-2.3%	37.29%	18.92%	-23.31%	-25.04%	93.63%	-52.67%	-1.67%	9.07%	3.41%	2.42%	-3.17%	9.49%	2.43%
Announcement Date	2/12/20	4/22/20	7/22/20	10/21/20	2/10/21	4/21/21	7/21/21	10/20/21	2/9/22	4/20/22	7/20/22	10/19/22	2/8/23	4/19/23	7/19/23	10/18/23	2/7/24	4/17/24	7/17/24	10/16/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: First Industrial Realty Trust, Inc.

balance-sheet-analysis-chart FIRST-INDUSTRIAL-REALTY-T

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,462	1,433	1,551	1,933	2,180	2,113	2,110	2,080
Change	-	-1.98%	8.23%	24.63%	12.78%	-3.09%	-0.14%	-1.42%
Announcement Date	2/12/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: First Industrial Realty Trust, Inc.

Fiscal Period: December	2018	2019	2020	2021	2022	2023
CAPEX ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Free Cash Flow (FCF) ¹	184.8	51.6	295.1	308.1	221.3	244.8
Change	-	-72.07%	471.9%	4.4%	-28.17%	10.63%
Announcement Date	2/20/19	2/13/20	2/16/21	2/18/22	2/16/23	2/14/24

¹USD in Million

Estimates

Forecast Financial Ratios: First Industrial Realty Trust, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	65.81%	66.28%	65.13%	66.92%	66.98%	67.35%	68.32%	68.59%
EBIT Margin (%)	37.47%	37.13%	37.67%	39.63%	39.84%	40.74%	41.84%	42.78%
EBT Margin (%)	54.24%	44.28%	59.25%	53.72%	42.72%	46%	37.9%	38.98%
Net margin (%)	56.05%	43.74%	56.9%	66.52%	44.76%	39.98%	28.45%	29.85%
FCF margin (%)	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-
Profitability
ROA	7.17%	5.36%	6.8%	7.86%	5.43%	5.12%	3.89%	4.48%
ROE	14%	10.69%	12.92%	15.03%	10.94%	10.01%	7.38%	8.17%
Financial Health
Leverage (Debt/EBITDA)	5.22x	4.82x	5x	5.35x	5.3x	4.73x	4.36x	3.97x
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	0.92	1	1.08	1.18	1.28	1.48	1.585	1.697
Change	-	8.7%	8%	9.26%	8.47%	15.62%	7.09%	7.06%
Book Value Per Share ¹	13.89	14.74	17.34	18.61	19.37	19.4	19.32	19.73
Change	-	6.12%	17.59%	7.35%	4.1%	0.14%	-0.4%	2.09%
EPS ¹	1.88	1.53	2.09	2.72	2.07	1.988	1.503	1.707
Change	-	-18.62%	36.6%	30.14%	-23.9%	-3.97%	-24.36%	13.56%
Nbr of stocks (in thousands)	126,952	129,050	130,290	132,135	132,275	132,348	132,348	132,348
Announcement Date	2/12/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-