Is FR or NNN cheaper?

On trailing earnings, NNN is cheaper: FR trades at a 23.95 P/E and NNN at 21.84.

Which has grown faster, FR or NNN?

Over the past five years, FR grew revenue faster — FR at a 10.42% CAGR versus NNN at 7.06%.

Does FR or NNN pay a bigger dividend?

FR yields 2.97% and NNN yields 5.33% based on trailing dividends and the latest price.

Is FR or NNN more profitable?

FR runs the higher net margin — FR at 45.99% versus NNN at 41.38%.

Which has been the better investment, FR or NNN?

Over the past 10-year, FR delivered the higher annualized total return — FR at 11.67% versus NNN at 4.53%. Past performance doesn't predict future results.

First Industrial Realty Trust, Inc. (FR) vs NNN REIT, Inc. (NNN)

NNN leads on 11 of 15 compared metrics.

A side-by-side comparison of First Industrial Realty Trust, Inc. and NNN REIT, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 20, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

First Industrial Realty Trust, Inc.

Total return — FR vs NNN

growth of $100 · last 30y

FR +158.8%NNN +233.3%NNN compounded faster

FR NNN

FR vs NNN: by the numbers

•NNN is the larger company ($8.56B vs $8.19B market cap).
•NNN trades at the lower earnings multiple (21.84 vs 23.95 P/E).
•FR converts more revenue to profit (45.99% vs 41.38% net margin).
•FR grew revenue faster over the past five years (10.42% vs 7.06% CAGR).
•NNN pays the higher dividend yield (5.33% vs 2.97%).

Which is better, FR or NNN?

Metric tally: FR 4 · NNN 11

It depends on what you're optimizing for:

ValueNNN(lower P/E)

GrowthFR(faster 5Y revenue CAGR)

IncomeNNN(higher dividend yield)

QualityNNN(higher ROIC)

Metrics side by side

Valuation

Metric	FR	NNN
P/E ratio	23.95	21.84●
Forward P/E	32.65	22.25●
P/S ratio	11.00	9.11●
P/B ratio	2.97	1.94●
PEG ratio	5.84	1.96●
EV / EBITDA	16.36	15.37●

Profitability

Metric	FR	NNN
Gross margin	47.03%	81.38%●
Operating margin	38.28%	63.13%●
Net margin	45.99%●	41.38%
ROE	12.41%●	8.81%
ROIC	5.34%	6.10%●

Dividends

Metric	FR	NNN
Dividend yield	2.97%	5.33%●
Payout ratio	98.13%	115.94%

Growth (annualized)

Metric	FR	NNN
Revenue CAGR (5Y)	10.42%●	7.06%
EPS CAGR (5Y)	4.10%	11.15%●
Total return CAGR (5Y)	6.32%●	4.47%

Frequently asked

Which is better, FR or NNN?: It depends on your goal. value: NNN (lower P/E); growth: FR (faster 5Y revenue CAGR); income: NNN (higher dividend yield); quality: NNN (higher ROIC). Across all compared metrics, NNN leads 11 to 4.
Is FR or NNN cheaper?: On trailing earnings, NNN is cheaper: FR trades at a 23.95 P/E and NNN at 21.84.
Which has grown faster, FR or NNN?: Over the past five years, FR grew revenue faster — FR at a 10.42% CAGR versus NNN at 7.06%.
Does FR or NNN pay a bigger dividend?: FR yields 2.97% and NNN yields 5.33% based on trailing dividends and the latest price.
Is FR or NNN more profitable?: FR runs the higher net margin — FR at 45.99% versus NNN at 41.38%.
Which has been the better investment, FR or NNN?: Over the past 10-year, FR delivered the higher annualized total return — FR at 11.67% versus NNN at 4.53%. Past performance doesn't predict future results.

Go deeper

Full FR analysis Full NNN analysis Interactive comparison tool

Dig into the metrics

First Industrial Realty Trust P/E ratio NNN REIT P/E ratio First Industrial Realty Trust dividend yield NNN REIT dividend yield First Industrial Realty Trust ROE NNN REIT ROE First Industrial Realty Trust operating margin NNN REIT operating margin First Industrial Realty Trust revenue growth NNN REIT revenue growth First Industrial Realty Trust free cash flow NNN REIT free cash flow

First Industrial Realty Trust & NNN REIT appear in these rankings

Highest Dividend Yield Stocks Dividend Aristocrats Highest Operating Margin Stocks Highest FCF Yield Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 20, 2026.