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REITs · Real Estate · Fiscal year ends Dec 31
LXP Industrial Trust reported revenue of $4M in the fiscal year ended Dec 2025, down 0.4% from the year before. Operating income was $186M, an operating margin of 4541.0%, and net income was $113M. Operating cash flow of $189M less capital expenditure of $29M left free cash flow of $160M. Net debt was $1.2B.
Ranks among the 75 reits companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 4.1 | 7.3 | 6.3 | 4.1 | 4.1 |
| Cost of revenue | 47.3 | 54.9 | 58.4 | 60.5 | 64.4 |
| Gross profit | −43.3 | −47.6 | −52.1 | −56.4 | −60.3 |
| Operating incomederived: pre-tax income + interest | 433 | 147 | 81.6 | 112 | 186 |
| Interest expense | 46.7 | 45.4 | 46.4 | 66.5 | 62.9 |
| Pre-tax income | 387 | 101 | 35.3 | 45.9 | 123 |
| Income tax | 1.3 | 1.1 | 0.2 | 0.1 | 0.2 |
| Net income | 383 | 114 | 30.4 | 44.5 | 113 |
| Diluted EPS | 1.34 | 0.38 | 0.41 | 0.65 | 1.82 |
| Diluted shares | 287 | 282 | 58.2 | 58.3 | 58.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 191 | 54.4 | 199 | 102 | 170 |
| Receivables | 3.5 | 3.0 | 5.3 | 2.1 | 3.5 |
| Total assets | 4,006 | 4,054 | 4,193 | 3,843 | 3,537 |
| Long-term debt | 988 | 989 | – | 1,570 | 1,351 |
| Total liabilities | 1,682 | 1,663 | 1,927 | 1,723 | 1,489 |
| Shareholders' equity | 2,291 | 2,353 | 2,232 | 2,098 | 2,037 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 220 | 194 | 209 | 211 | 189 |
| Capital expenditure | 289 | 277 | 121 | 106 | 28.9 |
| Free cash flow | −68.2 | −82.4 | 88.7 | 105 | 160 |
| Depreciation & amortisation | 180 | 183 | 187 | 197 | 200 |
| Stock-based compensation | 6.6 | 6.6 | 8.2 | 9.5 | 10.7 |
| Share buybacks | 0.0 | 131 | 0.0 | 0.0 | 4.0 |
| Dividends paid | 128 | 142 | 152 | 158 | 164 |
| Dividend per share | 0.44 | 0.48 | 2.50 | 2.60 | 2.70 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 79.0% | −13.4% | −34.7% | −0.4% |
| Operating income growth (YoY) | – | −66.1% | −44.4% | 37.6% | 65.2% |
| EPS growth (YoY) | – | −71.6% | 7.9% | 58.5% | 180.0% |
| Gross margin | −1067.4% | −656.5% | −829.4% | −1374.1% | −1475.2% |
| Operating margin | 10690.4% | 2023.4% | 1299.5% | 2737.2% | 4541.0% |
| Net margin | 9441.1% | 1568.8% | 483.6% | 1084.9% | 2768.1% |
| Return on equityBlank when equity is negative | 16.7% | 4.8% | 1.4% | 2.1% | 5.6% |
| Free cash flow margin | −1682.0% | −1136.6% | 1411.0% | 2569.5% | 3909.5% |
| Cash conversion (CFO ÷ net income) | 0.58x | 1.71x | 6.89x | 4.74x | 1.67x |
| Receivable days | 318 | 152 | 309 | 182 | 308 |
| Interest cover | 9.28x | 3.23x | 1.76x | 1.69x | 2.95x |
| Debt ÷ equity | 0.43x | 0.42x | – | 0.75x | 0.66x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 797 | 935 | – | 1,468 | 1,181 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.