Which has the lower trailing P/E, FR or NNN?

NNN has the lower trailing P/E: FR trades at 23.91 and NNN at 23.05. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FR or NNN?

Over the past five years, FR grew revenue faster — FR at a 10.47% CAGR versus NNN at 7.06%.

Does FR or NNN pay a bigger dividend?

FR yields 2.88% and NNN yields 5.10% based on trailing dividends and the latest price.

Is FR or NNN more profitable?

FR runs the higher net margin — FR at 47.96% versus NNN at 41.38%.

How have FR and NNN total returns compared?

Over the past 10 years, FR delivered 11.46% and NNN delivered 4.05% annualized total return. Past performance doesn't predict future results.

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

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 August 4, 2026. Differences are shown without an overall score or investment verdict.

First Industrial Realty Trust, Inc.

$8.56B

$64.61Real EstateDelayed quote: Aug 4, 2026, 1:50 PM EDT

NNN

NNN REIT, Inc.

$8.98B

$47.18Real EstateDelayed quote: Aug 4, 2026, 1:50 PM EDT

Total return — FR vs NNN

growth of $100 · dividends reinvested · last 30y

FR +967.6%NNN +2234.4%NNN compounded faster

FR NNN

FR vs NNN: by the numbers

•NNN is the larger company ($8.98B vs $8.56B market cap).
•NNN trades at the lower trailing earnings multiple (23.05 vs 23.91 P/E), one valuation lens rather than an overall verdict.
•FR converts more revenue to profit (47.96% vs 41.38% net margin).
•FR grew revenue faster over the past five years (10.47% vs 7.06% CAGR).
•NNN pays the higher dividend yield (5.10% vs 2.88%).

Metrics side by side

Valuation

Metric	FR	NNN
P/E ratio	23.91	23.05
Forward P/E	26.56	23.45
P/S ratio	11.43	9.61
P/B ratio	3.13	2.05
PEG ratio	5.83	2.07
EV / EBITDA	21.98	16.00
FCF yield	4.72%	7.24%

Profitability

Metric	FR	NNN
Gross margin	22.60%	38.00%
Operating margin	41.59%	63.13%
Net margin	47.96%	41.38%
ROE	13.12%	8.81%
ROIC	5.76%	6.39%

Dividends

Metric	FR	NNN
Dividend yield	2.88%	5.10%
Payout ratio	101.07%	116.91%

Growth (annualized)

Metric	FR	NNN
Revenue CAGR (5Y)	10.47%	7.06%
EPS CAGR (5Y)	4.10%	11.15%
FCF CAGR (5Y)	7.52%	6.14%
Total return CAGR (5Y)	6.44%	5.02%

Frequently asked

Which has the lower trailing P/E, FR or NNN?: NNN has the lower trailing P/E: FR trades at 23.91 and NNN at 23.05. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FR or NNN?: Over the past five years, FR grew revenue faster — FR at a 10.47% CAGR versus NNN at 7.06%.
Does FR or NNN pay a bigger dividend?: FR yields 2.88% and NNN yields 5.10% based on trailing dividends and the latest price.
Is FR or NNN more profitable?: FR runs the higher net margin — FR at 47.96% versus NNN at 41.38%.
How have FR and NNN total returns compared?: Over the past 10 years, FR delivered 11.46% and NNN delivered 4.05% annualized total return. 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 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 August 4, 2026.