Innovative Industrial Properties, Inc. Ratios | P/E, ROE & Valuation

On the Key Ratios page for Innovative Industrial Properties, Inc. (IIPR), the latest P/E of 12.6 frames valuation, while ROE 7.39% and ROIC 5.59% indicates profitability and capital efficiency. Together with the current ratio of 1.36 and debt-to-equity 0.33, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

IIPR Historical Per Share Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Revenue per Share$9.27$10.93$11.06$10.11$8.56$6.01$4.24$2.07$1.90$0.33
Net Income per Share$4.84$5.73$5.92$5.65$4.77$3.38$1.63$0.98$-0.02$-4.56
Operating Cash Flow per Share$6.91$9.16$9.13$8.56$7.90$5.70$4.26$2.20$1.49$1.76
Free Cash Flow per Share$6.91$9.16$9.13$-5.11$-7.77$-21.55$-28.35$-0.92$-0.27$-29.43
Cash per Share$7.20$5.18$5.01$3.19$3.39$6.48$7.80$18.70$3.48$34.28
Book Value per Share$65.10$68.59$69.80$71.75$67.43$78.43$51.96$37.02$21.79$62.78
Tangible Book Value per Share$64.90$68.33$69.51$71.41$67.04$78.43$51.96$37.02$21.79$62.78
Interest Debt per Share$22.33$11.13$11.33$11.69$14.40$7.47$13.48$0.00$0.00$0.00
CAPEX per Share$0.00$0.00$0.00$13.67$15.67$27.25$32.61$3.12$1.75$31.19

IIPR Historical Valuation Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Price to Earnings (P/E)12.611.6417.0317.9555.1354.1746.646.39-1514.66-3.99
Price to Book (P/B)0.870.971.441.413.92.331.461.231.480.29
Price to Sales (P/S)6.256.19.1110.0330.7230.4617.9121.9116.9954.56
Enterprise Value to EBITDA8.618.1711.9812.9336.8636.5425.4639.03120.8712.69
EV to Sales7.786.599.6310.831.9230.5619.1121.0315.16-48.26
EV to Operating Cash Flow10.457.8611.6712.7534.5932.241919.8219.4-9.15
EV to Free Cash Flow10.457.8611.67-21.37-35.14-8.53-2.86-47.12-108.590.55
Enterprise Value$2.05B$2.03B$2.98B$2.99B$6.53B$3.57B$853.74M$310.99M$97.30M$-15.49M

IIPR Historical Profitability Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Return on Equity (ROE)7.39%8.35%8.48%7.87%7.07%4.31%3.13%2.64%-0.10%-7.27%
Return on Invested Capital (ROIC)5.59%7.50%7.73%7.49%6.98%4.19%2.67%2.02%-0.30%-7.23%
Return on Tangible Assets5.35%6.82%6.95%6.42%5.49%3.72%2.30%2.48%-0.09%-6.94%
Earnings Yield8.53%8.59%5.87%5.57%1.81%1.85%2.15%2.16%-0.07%-25.08%
Free Cash Flow Yield11.92%13.74%9.06%-5.04%-2.96%-11.77%-37.37%-2.04%-0.82%-161.82%
Dividend Yield13.37%11.35%7.23%6.69%2.11%2.16%2.99%2.46%0.96%0.00%

IIPR Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202420232022202120202019201820172016
Current Ratio1.361.271.240.710.681.21.890.761.8312.74
Interest Coverage5.310.3510.859.277.489.383.95000
Income Quality1.431.61.541.521.661.691.912.25-69.65-0.39
Debt to Equity0.330.150.150.150.20.090.25000
Debt to Assets23.59%12.53%12.58%12.49%15.64%7.79%18.21%0.00%0.00%0.00%
Net Debt to EBITDA1.70.610.650.931.380.121.6-1.64-14.6127.04

IIPR Historical Efficiency Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Receivables Turnover3.6713.5314.0715.3415.8400000
Payables Turnover11.71.371.190.260.080.120.050.10.111.24
Inventory Turnover0000000000
Days Sales Outstanding99.426.9725.9423.823.0500000
Days Payables Outstanding31.19266.53307.871387.524435.533032.47878.733609.813346.86293.68
Days of Inventory on Hand0000000000

IIPR Historical Market Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Enterprise Value to EBITDA8.618.1711.9812.9336.8636.5425.4639.03120.8712.69
Market Cap$1.65B$1.88B$2.82B$2.77B$6.28B$3.56B$800.13M$324.04M$109.06M$17.51M
Enterprise Value$2.05B$2.03B$2.98B$2.99B$6.53B$3.57B$853.74M$310.99M$97.30M$-15.49M
Dividend Yield13.37%11.35%7.23%6.69%2.11%2.16%2.99%2.46%0.96%0.00%
Payout Ratio160.71%132.09%123.24%120.02%116.07%116.87%139.41%114.23%-1458.33%0.00%

Frequently Asked Questions

How does Innovative Industrial Properties, Inc.’s P/E ratio compare with its history?

On this page, IIPR's current P/E is 12.6, compared with a multi-year average around 32.7. A lower P/E versus its own history is a calculated gap versus that average—not a conclusion that the stock is cheap. Pair it with profitability and earnings quality in the table (for example ROE/ROIC) to see whether the multiple moved with earnings.

What is Innovative Industrial Properties, Inc. market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $1.65B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

How does Innovative Industrial Properties, Inc.’s P/E compare with its industry?

There is no P/E Tickerplace rates as good. Compare the P/E on this page with Innovative Industrial Properties, Inc.'s own historical range (in the table) and with peers via the Screener and Compare tools. A higher or lower multiple versus peers is a calculated gap, not a recommendation.

How does Innovative Industrial Properties, Inc. compare to its competitors in key financial ratios?

The fastest way to compare Innovative Industrial Properties, Inc. with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see Innovative Industrial Properties, Inc. outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

What do Innovative Industrial Properties, Inc.'s liquidity and leverage ratios show?

Liquidity and leverage figures on this page are published ratios, not a verdict that Innovative Industrial Properties, Inc. is financially strong. Current ratio is about 1.36, which is above 1.0 and can indicate more comfortable short-term liquidity. Interest coverage is about 5.30, implying a stronger ability to cover interest expenses. Debt-to-equity is about 0.33, suggesting leverage is more moderate relative to a high-debt profile. Pair them with ROE/ROIC and cash-flow rows in the table. Tickerplace does not rate the company as a good or poor investment.

What do Innovative Industrial Properties, Inc.'s financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If Innovative Industrial Properties, Inc. is sustaining strong returns (for example ROE at 7.39% and ROIC at 5.59%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.