Cash flow Industrial Logistics Properties Trust

Stocks

ILPT

US4562371066

Commercial REITs

Market Closed - Nasdaq 16:00:00 2026-08-28 EDT			5-day change	1st Jan Change
8.340 ^USD	+0.24%		+0.48%	+50.54%

08-11	B. Riley Adjusts PT on Industrial Logistics Properties Trust to $11 From $10, Maintains Buy Rating	MT
07-30	Industrial Logistics Properties Trust, Q2 2026 Earnings Call, Jul 30, 2026

87ae.Q356Pj1WIPFLc0EO8UZtAG73c9uWLlBPjH-dHEl5ojc.Cgk4b14Fc5giSiJ3iyorTh2mIrz9Hwl9wQfTRDsI2EV0P055fgwXwn4BCA

Published financial data: INDUSTRIAL LOGISTICS PROPERTIES TRUST

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Rental Revenues	220M	388M	437M	442M	449M
Tenant Reimbursements	-	-	-	-	-
Total Revenues	220M	388M	437M	442M	449M
Property Expenses	31.27M	51.21M	60.34M	62.56M	61.68M
Selling General & Admin Expenses, Total	16.72M	32.88M	31.16M	30.45M	36.96M
Depreciation & Amortization - (IS) - (Collected)	50.6M	161M	179M	172M	165M
Other Operating Expenses	18.68M	30.86M	38.19M	38.55M	37.06M
Total Operating Expenses	117M	276M	308M	304M	301M
Operating Income (REIT / Utility Template)	103M	112M	129M	139M	148M
Interest Expense, Total	-35.62M	-280M	-289M	-293M	-265M
Interest and Investment Income	-	2.66M	7.91M	11.43M	6.72M
Net Interest Expenses	-35.62M	-277M	-281M	-281M	-258M
Income (Loss) on Equity Invest.	40.92M	7.08M	902K	5.33M	19.98M
EBT, Excl. Unusual Items	108M	-158M	-151M	-137M	-89.94M
Gain (Loss) on Sale of Investments	-	-5.76M	-	-	-
Gain (Loss) on Sale of Assets	12.05M	-10K	1.71M	-	-1.38M
Asset Writedown	-	-101M	-156K	-	-6.08M
Other Unusual Items	-	-22.2M	-359K	-	-5.07M
EBT, Incl. Unusual Items	120M	-287M	-150M	-137M	-102M
Income Tax Expense	273K	45K	104K	162K	104K
Earnings From Continuing Operations	120M	-287M	-150M	-137M	-103M
Net Income to Company	120M	-287M	-150M	-137M	-103M
Minority Interest	-	60.12M	41.73M	41.5M	36.38M
Net Income - (IS)	120M	-227M	-108M	-95.67M	-66.19M
Preferred Dividend and Other Adjustments	307K	131K	10K	11K	44K
Net Income to Common Incl Extra Items	119M	-227M	-108M	-95.68M	-66.23M
Net Income to Common Excl. Extra Items	119M	-227M	-108M	-95.68M	-66.23M
Per Share Items
Net EPS - Basic	1.83	-3.48	-1.65	-1.46	-1
Basic EPS - Continuing Operations	1.83	-3.48	-1.65	-1.46	-1
Basic Weighted Average Shares Outstanding	65.17M	65.25M	65.43M	65.7M	66.01M
Net EPS - Diluted	1.83	-3.48	-1.65	-1.46	-1
Diluted EPS - Continuing Operations	1.83	-3.48	-1.65	-1.46	-1
Diluted Weighted Average Shares Outstanding	65.21M	65.25M	65.43M	65.7M	66.01M
Normalized Basic EPS	1.03	-0.59	-0.8	-0.67	-0.3
Normalized Diluted EPS	1.03	-0.59	-0.8	-0.67	-0.3
Dividend Per Share	1.32	0.36	0.04	0.04	0.16
Payout Ratio	72.05	-19.62	-2.43	-2.76	-12.05
Supplemental Items
EBITDA	152M	267M	304M	306M	307M
EBITA	119M	161M	179M	180M	180M
EBIT	103M	112M	129M	139M	148M
EBITDAR	153M	269M	307M	309M	311M
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	0.23	-0.02	-0.07	-0.12	-0.1
Normalized Net Income	67.44M	-38.68M	-52.53M	-44.13M	-19.83M
Interest Capitalized	-	180K	-	-	-
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	16.72M	32.65M	31.16M	30.45M	36.96M
Net Rental Expense, Total	938K	1.91M	2.44M	3.18M	4.11M
Imputed Operating Lease Interest Expense	315K	1.68M	1.32M	1.73M	2.05M
Imputed Operating Lease Depreciation	623K	223K	1.12M	1.45M	2.07M
Stock-Based Comp., G&A Exp. (Total)	2.33M	2.22M	1.74M	1.92M	2.06M
Total Stock-Based Compensation	2.33M	2.22M	1.74M	1.92M	2.06M

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Gross Property Plant And Equipment	1.75B	5.18B	5.17B	5.18B	5.18B
Accumulated Depreciation	-167M	-273M	-397M	-524M	-648M
Net Property Plant And Equipment	1.58B	4.91B	4.78B	4.66B	4.54B
Total Real Estate Assets	1.58B	4.91B	4.78B	4.66B	4.54B
Cash And Equivalents	29.4M	48.26M	112M	132M	94.81M
Accounts Receivable, Total	75.88M	107M	119M	129M	137M
Other Receivables	-	-	-	-	-
Other Intangibles, Total	7.5M	15.72M	12.86M	10.81M	9.33M
Restricted Cash	-	92.52M	133M	111M	88.22M
Trading Asset Securities, Total	-	73.13M	30.58M	16.92M	1.63M
Deferred Charges Long-Term	65.63M	282M	251M	212M	183M
Other Long-Term Assets, Total	149M	150M	127M	134M	141M
Total Assets	1.91B	5.68B	5.56B	5.41B	5.19B
Liabilities
Current Portion of Long-Term Debt	-	-	2.65B	2.65B	1.42B
Long-Term Debt	828M	4.24B	1.65B	1.65B	2.77B
Long-Term Leases	-	5.15M	4.73M	4.29M	3.82M
Accounts Payable, Total	9.34M	61.46M	60.95M	65.69M	63.98M
Accrued Expenses, Total	6.94M	6.94M	6.78M	6.78M	6.78M
Unearned Revenue Non Current	8.39M	-	-	-	-
Other Non Current Liabilities	17.72M	27.35M	23.5M	19.71M	21.48M
Total Liabilities	871M	4.35B	4.4B	4.4B	4.29B
Common Stock, Total	654K	656K	658K	661K	667K
Additional Paid In Capital	1.01B	1.01B	1.02B	1.02B	1.02B
Retained Earnings	25.16M	-	-	-	-
Distributions In Excess Of Earnings	-	-246M	-357M	-455M	-529M
Comprehensive Income and Other	-	21.9M	10.17M	-1.06M	-836K
Total Common Equity	1.04B	791M	670M	562M	490M
Minority Interest	-	540M	492M	447M	411M
Total Equity	1.04B	1.33B	1.16B	1.01B	901M
Total Liabilities And Equity	1.91B	5.68B	5.56B	5.41B	5.19B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	65.4M	65.57M	65.84M	66.14M	66.65M
ECS Total Common Shares Outstanding	65.4M	65.57M	65.84M	66.14M	66.65M
Book Value / Share	15.87	12.06	10.17	8.5	7.35
Tangible Book Value	1.03B	775M	657M	551M	480M
Tangible Book Value Per Share	15.76	11.82	9.98	8.33	7.21
Total Debt	828M	4.25B	4.31B	4.3B	4.2B
Net Debt	799M	4.13B	4.17B	4.16B	4.1B
Debt Equivalent Oper. Leases	7.5M	15.25M	19.52M	25.47M	32.9M
Minority Interest, Total (Incl. Fin. Div)	-	540M	492M	447M	411M
Equity Method Investments, Total	143M	124M	115M	117M	133M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	699M	1.12B	1.11B	1.11B	1.11B
Buildings, Total	1.05B	4.06B	4.06B	4.07B	4.07B
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	120M	-227M	-108M	-95.67M	-66.19M
Depreciation, Depletion & Amortization	32.46M	106M	125M	127M	128M
Amortization of Goodwill and Intangible Assets - (CF)	16.66M	48.57M	49.94M	40.73M	31.75M
Total Depreciation, Depletion & Amortization	49.11M	155M	175M	167M	159M
Amortization of Deferred Charges, Total	2.96M	98.65M	29.36M	16.13M	7.3M
(Gain) Loss On Sale of Asset - (CF)	-12.05M	10K	-1.71M	-	1.38M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	42.88M	30.66M
Total Asset Writedown	-	101M	156K	-	6.08M
(Income) Loss On Equity Investments - (CF)	-38.28M	3.96M	3.06M	-1.37M	-16.02M
Stock-Based Compensation (CF)	-	-	-	1.92M	2.06M
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Accounts Receivable	54K	-19.6M	1.44M	429K	1.96M
Change in Accounts Payable	2.52M	3.03M	1.92M	-932K	2.54M
Change in Unearned Revenues	583K	7.88M	-	-	-
Change in Other Net Operating Assets (Collected)	-9M	6.69M	-9.81M	-11.49M	6.24M
Other Operating Activities	-4.94M	-46.21M	-85.57M	-117M	-74.67M
Cash from Operations	111M	83.25M	6.06M	1.96M	60.67M
Acquisition of Real Estate Assets, Total	-140M	-3.61B	-19.42M	-5.7M	-18.64M
Sale of Real Estate Assets, Total	1.21M	-	24.3M	-	3.72M
Net Sale / Acquisition of Real Estate Assets	-138M	-3.61B	4.88M	-5.7M	-14.92M
Investment in Marketable and Equity Securities, Total	161M	161M	5.94M	-	-
Other Investing Activities, Total	-	-	56.92M	22.12M	18.88M
Cash from Investing	22.88M	-3.45B	67.74M	16.42M	3.96M
Short Term Debt Issued, Total	-	1.39B	-	-	-
Long-Term Debt Issued, Total	301M	3.34B	91M	-	1.16B
Total Debt Issued	301M	4.72B	91M	-	1.16B
Short Term Debt Repaid, Total	-	-1.39B	-	-	-
Long-Term Debt Repaid, Total	-340M	-203M	-55.42M	-18.12M	-1.26B
Total Debt Repaid	-340M	-1.59B	-55.42M	-18.12M	-1.26B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-922K	-242K	-163K	-312K	-451K
Common Dividends Paid	-86.24M	-44.48M	-2.63M	-2.64M	-7.97M
Common & Preferred Stock Dividends Paid	-86.24M	-44.48M	-2.63M	-2.64M	-7.97M
Other Financing Activities, Total	-804K	384M	-1.65M	-560K	-16.79M
Cash from Financing	-127M	3.47B	31.14M	-21.63M	-124M
Net Change in Cash	6.56M	111M	105M	-3.24M	-59.45M
Supplemental Items
Cash Interest Paid	33.28M	179M	238M	237M	235M
Cash Income Tax Paid (Refund)	485K	228K	85K	-80K	-
Net Debt Issued / Repaid	-39M	3.13B	35.58M	-18.12M	-98.86M
Levered Free Cash Flow	94.13M	67.76M	52.84M	106M	109M
Unlevered Free Cash Flow	114M	146M	206M	276M	271M
Change In Net Working Capital	2.14M	83.03M	53.7M	-17.27M	-13.33M

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	3.35	1.85	1.43	1.58	1.74
Return on Total Capital	3.43	1.88	1.46	1.61	1.78
Return On Equity %	11.73	-24.22	-12.01	-12.64	-10.74
Return on Common Equity	11.7	-24.81	-14.79	-15.53	-12.59
Margin Analysis
Gross Profit Margin %	85.78	86.81	86.2	85.86	86.26
SG&A Margin	7.61	8.47	7.13	6.88	8.23
EBITDA Margin %	69	68.8	69.54	69.19	68.46
EBITA Margin %	54.24	41.43	40.89	40.58	40.03
EBIT Margin %	46.67	28.91	29.48	31.37	32.96
Income From Continuing Operations Margin %	54.43	-73.9	-34.23	-31.01	-22.85
Net Income Margin %	54.43	-58.41	-24.69	-21.63	-14.75
Net Avail. For Common Margin %	54.29	-58.44	-24.69	-21.63	-14.76
Normalized Net Income Margin	30.67	-9.97	-12.01	-9.98	-4.42
Levered Free Cash Flow Margin	42.81	17.46	12.08	24.07	24.31
Unlevered Free Cash Flow Margin	52.02	37.57	47.16	62.48	60.44
Asset Turnover
Asset Turnover	0.11	0.1	0.08	0.08	0.08
Fixed Assets Turnover	0.14	0.12	0.09	0.09	0.1
Receivables Turnover (Average Receivables)	3.02	4.24	3.87	3.56	3.38
Short Term Liquidity
Current Ratio	6.47	4.69	0.15	0.14	0.22
Quick Ratio	6.47	3.34	0.1	0.1	0.16
Operating Cash Flow to Current Liabilities	6.8	1.22	0	0	0.04
Days Sales Outstanding (Average Receivables)	120.67	85.99	94.38	102.74	108.09
Average Days Payable Outstanding	99.91	293.26	370.23	370.67	383.66
Long Term Solvency
Total Debt/Equity	79.78	319.34	371.04	426.5	465.97
Total Debt / Total Capital	44.38	76.15	78.77	81.01	82.33
LT Debt/Equity	79.78	319.34	142.67	163.58	308.37
Long-Term Debt / Total Capital	44.38	76.15	30.29	31.07	54.49
Total Liabilities / Total Assets	45.61	76.56	79.12	81.33	82.65
EBIT / Interest Expense	2.88	0.4	0.45	0.47	0.56
EBITDA / Interest Expense	4.26	0.96	1.06	1.06	1.18
(EBITDA - Capex) / Interest Expense	4.26	0.96	1.06	1.06	1.18
Total Debt / EBITDA	5.46	15.8	14.06	13.92	13.48
Net Debt / EBITDA	5.26	15.35	13.6	13.44	13.17
Total Debt / (EBITDA - Capex)	5.46	15.8	14.06	13.92	13.48
Net Debt / (EBITDA - Capex)	5.26	15.35	13.6	13.44	13.17
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-13.63	76.53	12.67	1.14	1.48
Gross Profit, 1 Yr. Growth %	-13.95	78.65	11.89	0.73	1.95
EBITDA, 1 Yr. Growth %	-14.15	76	13.89	0.63	0.4
EBITA, 1 Yr. Growth %	-10.27	34.82	11.23	0.37	0.1
EBIT, 1 Yr. Growth %	-5.29	9.37	14.87	7.65	6.6
Earnings From Cont. Operations, 1 Yr. Growth %	47.38	-339.67	-47.8	-8.38	-25.22
Net Income, 1 Yr. Growth %	45.83	-289.44	-52.37	-11.41	-30.82
Diluted EPS Before Extra, 1 Yr. Growth %	45.44	-289.99	-52.53	-11.55	-31.1
Normalized Net Income, 1 Yr. Growth %	83.66	-157.36	35.78	-15.99	-55.07
Net Property, Plant and Equip., 1 Yr. Growth %	-5.18	210.35	-2.67	-2.43	-2.69
Accounts Receivable, 1 Yr. Growth %	9.16	41.03	11.36	8.38	5.81
Total Assets, 1 Yr. Growth %	-0.38	197.41	-1.98	-2.83	-4
Common Equity, 1 Yr. Growth %	3.47	-23.83	-15.27	-16.11	-12.87
Tangible Book Value, 1 Yr. Growth %	3.65	-24.8	-15.21	-16.11	-12.85
Cash From Operations, 1 Yr. Growth %	-3.42	-24.76	-92.72	-67.6	2.99K
Levered Free Cash Flow, 1 Yr. Growth %	-11.62	-35.85	-22.02	101.18	2.49
Unlevered Free Cash Flow, 1 Yr. Growth %	-16.08	15.85	41.45	33.94	-1.83
Dividend Per Share, 1 Yr. Growth %	0	-72.73	-88.89	0	300
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.06	23.48	41.03	6.75	1.31
Gross Profit, 2 Yr. CAGR %	-2.61	29.86	41.38	6.16	1.34
EBITDA, 2 Yr. CAGR %	-3.15	22.92	41.58	7.05	0.52
EBITA, 2 Yr. CAGR %	-1.76	9.99	22.46	5.66	0.23
EBIT, 2 Yr. CAGR %	0.24	1.78	12.09	11.2	7.12
Earnings From Cont. Operations, 2 Yr. CAGR %	50.99	87.94	11.85	-30.85	-17.23
Net Income, 2 Yr. CAGR %	50.99	66.21	-5.01	-35.04	-21.71
Diluted EPS Before Extra, 2 Yr. CAGR %	50.65	66.23	-5.03	-35.2	-22.03
Normalized Net Income, 2 Yr. CAGR %	43.13	2.64	-11.75	6.81	-38.56
Net Property, Plant and Equip., 2 Yr. CAGR %	-15.3	71.55	73.8	-2.55	-2.56
Accounts Receivable, 2 Yr. CAGR %	8.64	24.08	25.32	9.86	7.09
Total Assets, 2 Yr. CAGR %	-11.83	72.13	70.74	-2.41	-3.42
Common Equity, 2 Yr. CAGR %	2.1	-11.22	-19.66	-15.69	-14.5
Tangible Book Value, 2 Yr. CAGR %	2.27	-11.71	-20.15	-15.67	-14.5
Cash From Operations, 2 Yr. CAGR %	-2.46	-14.75	-76.6	-84.64	216.44
Levered Free Cash Flow, 2 Yr. CAGR %	3.27	-19.35	-29.27	25.35	43.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	-1.56	4.34	28.01	37.67	14.66
Dividend Per Share, 2 Yr. CAGR %	0	-47.78	-82.59	-66.67	100
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	10.6	19.19	19.77	26.24	4.96
Gross Profit, 3 Yr. CAGR %	9.62	19.21	23.57	26.27	4.74
EBITDA, 3 Yr. CAGR %	8.84	18.19	19.83	26.35	4.79
EBITA, 3 Yr. CAGR %	6.44	9.17	10.4	14.6	3.77
EBIT, 3 Yr. CAGR %	4.35	3.2	5.97	10.59	9.64
Earnings From Cont. Operations, 3 Yr. CAGR %	17.18	76.13	22.62	4.65	-29.02
Net Income, 3 Yr. CAGR %	17.18	62.85	9.58	-7.19	-33.66
Diluted EPS Before Extra, 3 Yr. CAGR %	16.42	62.76	9.47	-7.25	-33.92
Normalized Net Income, 3 Yr. CAGR %	13.18	5.53	12.67	-13.18	-19.97
Net Property, Plant and Equip., 3 Yr. CAGR %	4.92	30.57	42.02	43.38	-2.6
Accounts Receivable, 3 Yr. CAGR %	9.49	18.51	19.68	19.4	8.5
Total Assets, 3 Yr. CAGR %	7.54	32.23	42.67	41.49	-2.94
Common Equity, 3 Yr. CAGR %	0.32	-7.4	-12.59	-18.5	-14.76
Tangible Book Value, 3 Yr. CAGR %	0.47	-7.69	-12.9	-18.83	-14.74
Cash From Operations, 3 Yr. CAGR %	4.57	-10.55	-62.46	-73.92	-10.01
Levered Free Cash Flow, 3 Yr. CAGR %	9.83	-8.43	-20.25	0.27	17.22
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.72	7.3	15.47	29.98	22.99
Dividend Per Share, 3 Yr. CAGR %	1.56	-35.15	-68.82	-68.82	-23.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.48	19.92	21.89	14.05	12.01
Gross Profit, 5 Yr. CAGR %	6.75	19.61	21.36	13.81	14.14
EBITDA, 5 Yr. CAGR %	5.66	19.68	20.91	13.6	11.7
EBITA, 5 Yr. CAGR %	4.09	12.05	12.58	7.75	6.21
EBIT, 5 Yr. CAGR %	2.84	6.33	7.38	6.33	6.43
Earnings From Cont. Operations, 5 Yr. CAGR %	6.61	29.06	15.02	21.18	4.78
Net Income, 5 Yr. CAGR %	6.61	23.13	7.74	12.75	-4.21
Diluted EPS Before Extra, 5 Yr. CAGR %	-1.06	14.33	7.31	12.61	-4.43
Normalized Net Income, 5 Yr. CAGR %	4.41	-5.04	2.46	6.04	-11.59
Net Property, Plant and Equip., 5 Yr. CAGR %	4.32	31.06	28.39	16.15	22.15
Accounts Receivable, 5 Yr. CAGR %	10.03	15.67	15.57	14.98	14.48
Total Assets, 5 Yr. CAGR %	6.06	32.09	29.38	17.1	22.06
Common Equity, 5 Yr. CAGR %	-4.59	7.06	-8.21	-10.81	-13.36
Tangible Book Value, 5 Yr. CAGR %	-4.51	7.16	-8.35	-10.97	-13.54
Cash From Operations, 5 Yr. CAGR %	0.25	-4.25	-42.54	-55.8	-11.94
Levered Free Cash Flow, 5 Yr. CAGR %	4.52	-1.42	-5.75	3.82	0.93
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.19	14.29	20.9	18.55	15.16
Dividend Per Share, 5 Yr. CAGR %	-	-	-49.84	-50.31	-34.43