Rexford Industrial Realty, Inc. (REXR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.27	$0.3	+11.1%	—	$245.1M	—
Q4 25	$0.19	$0.29	+52.6%	—	$248.1M	—
Q2 25	$0.27	$0.29	+7.4%	—	$249.5M	—
Q1 25	$0.28	$0.24	-14.3%	—	$252.3M	—
Q4 24	$0.27	$0.27	0.0%	—	$242.9M	—
Q3 24	$0.28	$0.3	+7.1%	—	$241.8M	—
Q2 24	$0.27	$0.37	+37.0%	—	$237.6M	—
Q1 24	$0.27	$0.27	0.0%	—	$214.1M	—
Q4 23	$0.28	$0.26	-7.1%	—	$210.4M	—
Q3 23	$0.27	$0.27	0.0%	—	$205.4M	—
Q2 23	$0.26	$0.26	0.0%	—	$195.8M	—
Q1 23	$0.22	$0.3	+36.4%	—	$186.2M	—
Q4 22	$0.22	$0.22	0.0%	—	$178.6M	—
Q3 22	$0.22	$0.21	-4.5%	—	$162.7M	—
Q2 22	$0.24	$0.22	-8.3%	—	$149.1M	—
Q1 22	$0.2	$0.27	+35.0%	—	$140.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.86	—	—	$1B	—
FY24	—	$1.2	—	—	$936.4M	—
FY23	—	$1.12	—	—	$797.8M	—
FY22	—	$0.92	—	—	$631.2M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$126.2M	$161.4M	$212.5M	$267.2M	$330.1M	$452.2M	$631.2M	$797.8M	$936.4M	$1B
YoY change	+34.4%	+27.9%	+31.7%	+25.8%	+23.5%	+37%	+39.6%	+26.4%	+17.4%	+7.13%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	126.2M	161.4M	212.5M	267.2M	330.1M	452.2M	631.2M	797.8M	936.4M	1B
Cost of revenue	33.6M	42.1M	51.7M	63.3M	79.7M	107.7M	150.5M	184.5M	210.3M	227.7M
Gross profit	92.6M	119.2M	160.8M	203.9M	250.4M	344.5M	480.7M	613.3M	726.1M	775.4M
Gross margin	73.4%	73.9%	75.7%	76.3%	75.9%	76.2%	76.2%	76.9%	77.5%	77.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17.4M	21.6M	25.2M	30.3M	36.8M	49M	64.3M	75M	82.2M	78.9M
Operating expenses	17.4M	21.6M	25.2M	30.3M	36.8M	49M	64.3M	75M	82.2M	78.9M
Operating income	23.8M	32.8M	55.6M	74.8M	98.4M	144.3M	219.6M	293.8M	368.7M	380.6M
Operating margin	18.8%	20.3%	26.2%	28%	29.8%	31.9%	34.8%	36.8%	39.4%	37.9%
Non-operating income, net	17M	29.2M	16.9M	16.1M	13.4M	32.1M	6M	17.2M	15.8M	-56M
Pretax income	25.9M	41.7M	47.1M	64M	80.9M	136.2M	177.2M	249.6M	285.9M	219.8M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	25.9M	41.7M	47.1M	64M	80.9M	136.2M	177.2M	249.6M	285.9M	219.8M
Net margin	20.5%	25.8%	22.2%	24%	24.5%	30.1%	28.1%	31.3%	30.5%	21.9%
EBITDA	76.6M	97.6M	135.6M	173.5M	213.5M	294.2M	414.9M	536.5M	641.8M	623.9M
EPS	0.36	0.44	0.39	0.47	0.51	0.8	0.92	1.12	1.2	0.86
Diluted EPS	0.36	0.44	0.39	0.47	0.51	0.8	0.92	1.12	1.2	0.86

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	205.4M	210.4M	214.1M	237.6M	241.8M	242.9M	252.3M	249.5M	253.2M	248.1M	245.1M	245.5M
Cost of revenue	48.1M	49.3M	47.5M	51.9M	54.9M	56M	55.3M	55.3M	57.9M	59.3M	56.8M	56.2M
Gross profit	157.3M	161.2M	166.6M	185.7M	187M	186.9M	197M	194.2M	195.4M	188.8M	188.3M	189.3M
Gross margin	76.6%	76.6%	77.8%	78.2%	77.3%	76.9%	78.1%	77.8%	77.1%	76.1%	76.8%	77.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	18.6M	20M	20M	19.3M	20.9M	21.9M	19.9M	19.8M	20M	19.2M	14.9M	13.7M
Operating expenses	18.6M	20M	20M	19.3M	20.9M	21.9M	19.9M	19.8M	20M	19.2M	14.9M	13.7M
Operating income	78.3M	75.3M	80.4M	98.5M	96.8M	93.1M	90.4M	103.3M	94.2M	92.8M	100.5M	102.1M
Operating margin	38.1%	35.8%	37.5%	41.4%	40%	38.3%	35.8%	41.4%	37.2%	37.4%	41%	41.6%
Non-operating income, net	-551K	6.6M	-1.4M	16M	1.3M	-34K	10.9M	43.8M	24.4M	-135.1M	20.7M	-597.4M
Pretax income	61.8M	67.3M	64.3M	86M	70.7M	64.9M	74M	120.4M	93.1M	-67.7M	94.6M	-523.8M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	61.8M	67.3M	64.3M	86M	70.7M	64.9M	74M	120.4M	93.1M	-67.7M	94.6M	-523.8M
Net margin	30.1%	32%	30%	36.2%	29.2%	26.7%	29.4%	48.3%	36.7%	-27.3%	38.6%	-213.4%
EBITDA	138.2M	140.9M	145.2M	166.1M	165.6M	164.9M	174.9M	174.2M	171.1M	103.7M	174.6M	181.1M
EPS	0.27	0.29	0.27	0.37	0.3	0.27	0.3	0.48	0.37	-0.3	0.38	-2.26
Diluted EPS	0.27	0.29	0.27	0.37	0.3	0.27	0.3	0.48	0.37	-0.3	0.38	-2.26

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	4.9B	—	—	—	—	8.4B	9B	8.5B
Enterprise value	—	—	—	5.7B	—	—	—	—	11.7B	12.1B	12.1B
Shares outstanding	62.7M	78.3M	96.8M	106.4M	120.9M	139.3M	170.5M	202.9M	218.3M	232.5M	232.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	75.9	—	—	—	—	29.5	41	39.5
P/S	—	—	—	18.2	—	—	—	—	9.01	8.97	8.64
P/B	—	—	—	1.85	—	—	—	—	0.97	1.02	1.13
EV/EBITDA	—	—	—	32.8	—	—	—	—	18.3	19.4	17.8
EV/Sales	—	—	—	21.3	—	—	—	—	12.5	12	12.2
Earnings yield	—	—	—	1.32%	—	—	—	—	3.39%	2.44%	2.53%
FCF yield	—	—	—	1.9%	—	—	—	—	1.25%	2.32%	4.02%
PEG	—	—	—	—	—	—	—	—	—	—	-0.07

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	73.4%	73.9%	75.7%	76.3%	75.9%	76.2%	76.2%	76.9%	77.5%	77.3%	77.1%
Operating margin	18.8%	20.3%	26.2%	28%	29.8%	31.9%	34.8%	36.8%	39.4%	37.9%	41.6%
Net margin	20.5%	25.8%	22.2%	24%	24.5%	30.1%	28.1%	31.3%	30.5%	21.9%	-39.2%
ROE	2.69%	3.05%	2.47%	2.44%	2.29%	2.69%	2.56%	3.06%	3.28%	2.49%	-4.73%
ROA	1.71%	1.98%	1.69%	1.76%	1.63%	2.01%	1.91%	2.28%	2.26%	1.74%	1.98%
Return on tangible assets	1.81%	2.08%	1.77%	1.84%	1.7%	2.09%	1.99%	2.35%	2.34%	1.78%	-3.54%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.87	0.7	3.12	1.42	2.02	0.74	0.56	0.73	0.83	1.22	0.34
Quick ratio	0.87	0.7	3.12	1.42	2.02	0.74	0.56	0.73	0.83	1.22	1.02
Debt / equity	0.53	0.5	0.42	0.35	0.34	0.28	0.28	0.27	0.38	0.37	0.41
Debt / assets	0.34	0.33	0.29	0.25	0.25	0.21	0.21	0.2	0.26	0.26	0.28
Net debt / EBITDA	6.45	6.97	4.64	4.83	4.87	4.61	4.58	4.09	5.13	4.95	5.12
Interest coverage	2.74	3.06	2.85	3.38	3.62	4.39	4.65	5.07	3.9	3.09	-2.81

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.01	2.06	2.19	2.51	2.73	3.25	3.7	3.93	4.29	4.31	4.32
EPS (basic)	0.36	0.44	0.39	0.47	0.51	0.8	0.92	1.12	1.2	0.86	0.86
EPS (diluted)	0.36	0.44	0.39	0.47	0.51	0.8	0.92	1.12	1.2	0.86	-1.78
Book value per share	15.3	17.4	19.7	24.6	29.2	36.4	40.6	40.1	40	38	33.2
FCF per share	0.39	0.44	0.46	0.87	0.86	0.93	1.13	0.79	0.48	0.9	1.01
Cash per share	0.25	0.08	1.87	0.74	1.46	0.32	0.22	0.16	0.26	0.71	0.19
Capex per share	—	—	—	—	—	—	—	—	—	1.43	1.26

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	33.2%	28.4%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	61.5%	55.4%
Payout ratio	139.3%	112.2%	139.1%	139.8%	148%	111.3%	125.8%	126.1%	132.7%	192.3%	183.5%
Dividend yield	—	—	—	1.84%	—	—	—	—	4.5%	4.69%	4.68%

Yield

4.68%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.435

ex-dividend Jun 30, 2026

Payout ratio

184%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.435
Mar 31, 2026	$0.435
Dec 31, 2025	$0.43
Sep 30, 2025	$0.43
Jun 30, 2025	$0.43

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$205.4M	$210.4M	$214.1M	$237.6M	$241.8M	$242.9M	$252.3M	$249.5M	$253.2M	$248.1M	$245.1M	$245.5M
YoY change	+26.2%	+17.8%	+15%	+21.4%	+17.7%	+15.4%	+17.8%	+5.02%	+4.71%	+2.14%	-2.86%	-1.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	15.5M	6.6M	180.6M	78.9M	176.3M	44M	36.8M	33.4M	56M	165.8M
Receivables	14.6M	19.5M	27.2M	35.6M	51.1M	72.5M	103.4M	140.8M	177.5M	204.3M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	36.1M	41.3M	208.7M	128.9M	241.5M	132.2M	141.8M	299.2M	356.7M	493.8M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	83.1M	108.8M	121.7M	156.5M	194.7M	274.6M	350.3M	317.7M	413.2M	291.6M
Total assets	1.5B	2.1B	2.8B	3.6B	5B	6.8B	9.3B	10.9B	12.6B	12.6B
Accounts payable	13.6M	21.1M	21.1M	31.1M	45.4M	65.8M	97.5M	128.8M	149.7M	120.8M
Short-term debt	9.1M	18.1M	52.7M	59.3M	—	—	—	—	—	—
Total current liabilities	41.5M	58.9M	66.8M	90.5M	119.6M	179.4M	252.2M	412.4M	428.8M	405.5M
Long-term debt	500.2M	668.9M	757.4M	857.8M	1.2B	1.4B	1.9B	2.2B	3.3B	3.3B
Total liabilities	552.9M	746.1M	879.3M	1B	1.4B	1.7B	2.3B	2.8B	3.9B	3.8B
Shareholders' equity	962.1M	1.4B	1.9B	2.6B	3.5B	5.1B	6.9B	8.1B	8.7B	8.8B
Total debt	509.3M	687M	810.1M	917.2M	1.2B	1.4B	1.9B	2.2B	3.3B	3.3B
Net debt	493.8M	680.4M	629.5M	838.3M	1B	1.4B	1.9B	2.2B	3.3B	3.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	249M	165.8M	51.7M	32.2M
Receivables	—	—	—	—	—	—	—	—	197.2M	204.3M	217.4M	222.6M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	635.2M	493.8M	441.7M	378.8M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	320.2M	291.6M	270.4M	239.3M
Total assets	—	—	—	—	—	—	—	—	12.9B	12.6B	12.4B	11.6B
Accounts payable	—	—	—	—	—	—	—	—	153.6M	120.8M	125M	99.1M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	434.4M	405.5M	405.3M	372M
Long-term debt	—	—	—	—	—	—	—	—	3.2B	3.3B	3.2B	3.3B
Total liabilities	—	—	—	—	—	—	—	—	3.8B	3.8B	3.8B	3.7B
Shareholders' equity	—	—	—	—	—	—	—	—	9B	8.8B	8.6B	7.9B
Total debt	—	—	—	—	—	—	—	—	3.2B	3.3B	3.2B	3.3B
Net debt	—	—	—	—	—	—	—	—	3B	3.1B	3.2B	3.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	25.9M	41.7M	47.1M	64M	80.9M	136.2M	177.2M	249.6M	285.9M	219.8M
Depreciation & amortization	51.3M	62.6M	74.1M	91M	104.7M	135.8M	165.6M	214.6M	247.6M	291.6M
Stock-based compensation	3.8M	5.4M	10.1M	10.8M	12.9M	19.5M	28.4M	33.6M	41.6M	100.5M
Change in working capital	-947K	3M	-3.4M	-876K	8.7M	-5.9M	-5.6M	-21M	-49.4M	-36.7M
Operating cash flow	76.1M	108.8M	122.7M	158.7M	195.9M	262.7M	336.7M	444.6M	496.4M	542.1M
Capital expenditure	—	—	—	—	—	—	—	—	—	-333.4M
Investing cash flow	-5.7M	3.8M	-25K	-14.5M	—	—	—	-122.7M	—	-333.4M
Dividends paid	-36M	-46.8M	-65.5M	-89.5M	-119.7M	-151.6M	-222.9M	-314.7M	-379.6M	-422.5M
Share repurchases	-747K	-1.7M	-594K	-854K	-1.3M	-91.4M	-2.2M	-1.9M	-2.3M	-252M
Financing cash flow	315.1M	521.6M	578.2M	731.5M	903.2M	1.5B	2.1B	1.2B	1.4B	-307.2M
Net change in cash	385.5M	634.2M	700.9M	875.6M	1.1B	1.8B	2.5B	1.6B	1.9B	-98.6M
Free cash flow	24.5M	34.3M	44.8M	92.3M	104.2M	129M	192.6M	161M	105.5M	208.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	61.8M	67.3M	64.3M	86M	70.7M	64.9M	74M	120.4M	93.1M	-67.7M	94.6M	-523.8M
Depreciation & amortization	53.2M	57.7M	58.7M	60.6M	62.6M	65.7M	77.6M	65.4M	75.9M	72.7M	68.3M	69.7M
Stock-based compensation	8.2M	9.3M	9.1M	11.1M	9.9M	11.5M	9.7M	10.1M	11.9M	68.8M	4.1M	778K
Change in working capital	-3.8M	22.1M	-13.3M	-33M	-5.6M	-18.6M	7.3M	-19.4M	2.6M	-27.1M	5.9M	-35.7M
Operating cash flow	108.7M	149.1M	112.5M	117.8M	128.9M	116.1M	165.6M	172.2M	149.6M	111.7M	141.2M	106.8M
Capital expenditure	—	—	—	—	—	—	—	—	-89.2M	-81.9M	-63M	-48.1M
Investing cash flow	—	—	—	—	—	—	—	—	-89.2M	-81.9M	-63M	-48.1M
Dividends paid	-82.5M	-84.5M	-86.8M	-97.2M	-97.4M	-98.1M	-100.5M	-107.7M	-108M	-106.3M	-105.8M	-104.8M
Share repurchases	-103K	-23K	-2M	-53K	-88K	-146K	-1.6M	-70K	-150.1M	-100.1M	-202.2M	-119.4M
Financing cash flow	215.2M	237.9M	1.3B	-100.1M	-18.6M	174.7M	375.2M	-108M	-358.4M	-206.7M	-314.9M	-210.5M
Net change in cash	323.9M	386.9M	1.4B	17.7M	110.3M	290.9M	540.8M	64.2M	-297.9M	-176.9M	-236.8M	-151.7M
Free cash flow	33.7M	16.7M	53.9M	16.5M	7.2M	27.9M	73.4M	45M	60.5M	29.8M	78.1M	58.7M

Rexford Industrial Realty, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement