First Industrial Realty Trust, Inc. logo
First Industrial Realty Trust, Inc. (FR)
Compare

First Industrial Realty Trust, Inc. (FR) EV/EBITDA Ratio: 16.36x

For REITs like First Industrial Realty Trust, Inc., EV/EBITDA is secondary context: property companies are valued primarily on funds from operations (FFO / AFFO) and price-to-FFO, where heavy non-cash depreciation makes EBITDA-based multiples less informative than for an operating company.

The EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR) is 16.36x as of Saturday, June 20, 2026.

FR EV/EBITDA Ratio Chart

FR EV/EBITDA Ratio
16.36x-14.26% 1Y
Zoom

FR Average EV/EBITDA Ratio Chart

FR Current vs Average EV/EBITDA Ratio Chart

FR EV/EBITDA Ratio Metrics

EV/EBITDA RATIO

16.36x

EV/EBITDA RATIO AVG TTM

19.28x

EV/EBITDA RATIO AVG 3Y

20.51x

EV/EBITDA RATIO AVG 5Y

22.93x

EV/EBITDA RATIO AVG 10Y

21.61x

EV/EBITDA RATIO AVG 15Y

19.35x

EV/EBITDA RATIO AVG 20Y

18.37x

CURRENT VS TTM AVG

-15.14%

CURRENT VS 3Y AVG

-20.25%

CURRENT VS 5Y AVG

-28.66%

CURRENT VS 10Y AVG

-24.29%

CURRENT VS 15Y AVG

-15.47%

CURRENT VS 20Y AVG

-10.92%

FR Competitors' EV/EBITDA Ratio

NAMEMARKET CAPEV/EBITDA RATIOTTM3Y5Y
First Industrial Realty Trust, Inc. (FR)$8.19B16.36x19.28x20.51x22.93x
NNN REIT, Inc. (NNN)vs ›$8.56B15.37x14.94x14.94x16.07x
Agree Realty Corporation (ADC)vs ›$8.80B19.70x19.68x19.06x20.30x
Terreno Realty Corporation (TRNO)vs ›$6.84B13.29x15.82x24.14x30.35x
Federal Realty Investment Trust (FRT)vs ›$10.40B14.02x14.50x15.61x16.87x
UDR, Inc. (UDR)vs ›$12.20B14.05x17.20x16.81x18.98x
Opendoor Technologies Inc. (OPEN)vs ›$3.43BN/A372.16x223.11x223.11x
Regency Centers Corporation (REG)vs ›$14.08B16.84x18.37x18.94x19.46x
Kimco Realty Corporation (KIM)vs ›$16.44B15.81x15.92x16.90x17.27x
Host Hotels & Resorts, Inc. (HST)vs ›$17.13B10.08x9.85x9.86x25.26x

EV/EBITDA vs. its own history

At 16.4, EV/EBITDA is cheaper than usual, sitting higher than 33% of its 20-year history.

20-year low

5.7

median

18.8

20-year high

32.7

cheaperricher

First Industrial Realty Trust, Inc. EV/EBITDA Ratio Formula & Definition

EV/EBITDA = Enterprise Value / EBITDA (TTM)

Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

First Industrial Realty Trust, Inc. EV/EBITDA Ratio FAQ

What is the EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The EV/EBITDA ratio for FR stock is 16.36x.
What is the TTM average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The TTM average EV/EBITDA ratio for FR stock is 19.28x.
What is the 3Y average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The 3Y average EV/EBITDA ratio for FR stock is 20.51x.
What is the 5Y average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The 5Y average EV/EBITDA ratio for FR stock is 22.93x.
What is the 10Y average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The 10Y average EV/EBITDA ratio for FR stock is 21.61x.
What is the 15Y average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The 15Y average EV/EBITDA ratio for FR stock is 19.35x.
What is the 20Y average EV/EBITDA ratio for First Industrial Realty Trust, Inc. (FR)?
The 20Y average EV/EBITDA ratio for FR stock is 18.37x.

First Industrial Realty Trust, Inc. EV/EBITDA Ratio History

DATEEV/EBITDA RATIO
2026-06-1816.36x
2026-06-1716.14x
2026-06-1616.56x
2026-06-1516.68x
2026-06-1216.72x
2026-06-1116.56x
2026-06-1016.48x
2026-06-0916.59x
2026-06-0816.18x
2026-06-0516.32x
2026-06-0416.34x
2026-06-0316.08x
2026-06-0216.01x
2026-06-0115.93x
2026-05-2916.37x
2026-05-2816.51x
2026-05-2716.61x
2026-05-2616.81x
2026-05-2216.66x
2026-05-2116.49x
2026-05-2016.45x
2026-05-1916.33x
2026-05-1816.30x
2026-05-1516.16x
2026-05-1416.26x
2026-05-1316.37x
2026-05-1216.48x
2026-05-1116.48x
2026-05-0816.55x
2026-05-0716.48x
2026-05-0616.50x
2026-05-0516.35x
2026-05-0416.21x
2026-05-0116.43x
2026-04-3016.40x
2026-04-2916.27x
2026-04-2816.50x
2026-04-2716.41x
2026-04-2416.27x
2026-04-2319.61x
2026-04-2219.73x
2026-04-2119.70x
2026-04-2019.98x
2026-04-1719.83x
2026-04-1619.50x
2026-04-1519.25x
2026-04-1419.19x
2026-04-1319.03x
2026-04-1019.09x
2026-04-0919.04x
2026-04-0818.98x
2026-04-0718.70x
2026-04-0618.55x
2026-04-0218.61x
2026-04-0118.60x
2026-03-3118.41x
2026-03-3018.27x
2026-03-2718.25x
2026-03-2618.49x
2026-03-2518.52x
2026-03-2418.39x
2026-03-2318.46x
2026-03-2018.21x
2026-03-1918.65x
2026-03-1818.92x
2026-03-1719.13x
2026-03-1619.16x
2026-03-1318.95x
2026-03-1218.97x
2026-03-1119.18x
2026-03-1019.20x
2026-03-0919.05x
2026-03-0618.89x
2026-03-0519.26x
2026-03-0419.52x
2026-03-0319.57x
2026-03-0219.77x
2026-02-2719.68x
2026-02-2619.76x
2026-02-2519.53x
2026-02-2419.46x
2026-02-2319.41x
2026-02-2019.43x
2026-02-1919.10x
2026-02-1819.02x
2026-02-1718.94x
2026-02-1318.67x
2026-02-1218.45x
2026-02-1118.78x
2026-02-1021.81x
2026-02-0921.67x
2026-02-0621.72x
2026-02-0521.70x
2026-02-0421.36x
2026-02-0321.32x
2026-02-0221.11x
2026-01-3021.25x
2026-01-2921.29x
2026-01-2820.94x
2026-01-2721.09x
2026-01-2621.00x
2026-01-2321.09x
2026-01-2221.03x
2026-01-2121.38x
2026-01-2021.46x
2026-01-1621.74x
2026-01-1521.59x
2026-01-1421.55x
2026-01-1321.54x
2026-01-1221.47x
2026-01-0921.56x
2026-01-0821.48x
2026-01-0721.33x
2026-01-0621.18x
2026-01-0521.34x
2026-01-0221.22x
2025-12-3121.05x
2025-12-3021.28x
2025-12-2921.25x
2025-12-2621.32x
2025-12-2421.35x
2025-12-2321.06x
2025-12-2221.19x
2025-12-1921.27x
2025-12-1821.35x
2025-12-1721.40x
2025-12-1621.25x
2025-12-1521.33x
2025-12-1221.29x
2025-12-1121.51x
2025-12-1021.40x
2025-12-0921.04x
2025-12-0821.08x
2025-12-0521.20x
2025-12-0420.92x
2025-12-0320.70x
2025-12-0220.82x
2025-12-0120.98x
2025-11-2821.04x
2025-11-2621.12x
2025-11-2520.98x
2025-11-2420.86x
2025-11-2120.80x
2025-11-2020.52x
2025-11-1920.45x
2025-11-1820.67x
2025-11-1720.63x
2025-11-1420.64x
2025-11-1320.73x
2025-11-1220.75x
2025-11-1120.88x
2025-11-1020.72x
2025-11-0720.79x
2025-11-0620.48x
2025-11-0520.54x
2025-11-0420.46x
2025-11-0320.52x
2025-10-3120.52x
2025-10-3020.67x
2025-10-2920.63x
2025-10-2820.75x
2025-10-2720.87x
2025-10-2420.74x
2025-10-2320.64x
2025-10-2220.62x
2025-10-2120.59x
2025-10-2020.73x
2025-10-1720.48x
2025-10-1620.08x
2025-10-1519.87x
2025-10-1419.39x
2025-10-1319.26x
2025-10-1018.93x
2025-10-0919.21x
2025-10-0819.32x
2025-10-0719.31x
2025-10-0619.29x
2025-10-0319.33x
2025-10-0219.27x
2025-10-0119.43x
2025-09-3019.26x
2025-09-2919.28x
2025-09-2619.23x
2025-09-2519.18x
2025-09-2419.17x
2025-09-2319.37x
2025-09-2219.41x
2025-09-1919.33x
2025-09-1819.50x
2025-09-1719.33x
2025-09-1619.42x
2025-09-1519.38x
2025-09-1219.46x
2025-09-1119.59x
2025-09-1019.16x
2025-09-0919.20x
2025-09-0819.45x
2025-09-0519.48x
2025-09-0419.42x
2025-09-0319.37x
2025-09-0219.21x
2025-08-2919.57x
2025-08-2819.48x
2025-08-2719.53x
2025-08-2619.18x
2025-08-2519.21x
2025-08-2219.29x
2025-08-2118.73x
2025-08-2018.86x
2025-08-1919.02x
2025-08-1818.44x
2025-08-1518.55x
2025-08-1418.44x
2025-08-1318.58x
2025-08-1218.38x
2025-08-1118.18x
2025-08-0818.31x
2025-08-0718.40x
2025-08-0618.34x
2025-08-0518.51x
2025-08-0418.34x
2025-08-0118.27x
2025-07-3118.50x
2025-07-3018.65x
2025-07-2918.87x
2025-07-2818.52x
2025-07-2518.81x
2025-07-2418.89x
2025-07-2319.14x
2025-07-2218.99x
2025-07-2118.82x
2025-07-1818.85x
2025-07-1718.68x
2025-07-1619.14x
2025-07-1519.06x
2025-07-1419.26x
2025-07-1119.17x
2025-07-1019.07x
2025-07-0918.84x
2025-07-0818.91x
2025-07-0718.96x
2025-07-0319.10x
2025-07-0219.16x
2025-07-0118.87x
2025-06-3018.80x
2025-06-2719.03x
2025-06-2619.06x
2025-06-2518.94x
2025-06-2419.48x
2025-06-2319.36x
2025-06-2019.09x
2025-06-1819.08x
2025-06-1718.98x
2025-06-1619.06x
2025-06-1319.17x
2025-06-1219.24x
2025-06-1119.22x
2025-06-1019.29x
2025-06-0919.29x
2025-06-0619.20x

Showing the most recent 260 of 5,032 data points. The chart above shows the full history.

About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. (NYSE: FR) is a preeminent, fully integrated real estate firm specializing in the ownership, operation, and development of industrial properties. The company is recognized for its consistent delivery of market-leading customer service to a diverse clientele, encompassing both global corporations and regional businesses. Operating in significant markets throughout the United States, First Industrial's localized teams skillfully acquire, divest, manage, lease, and either develop new or redevelop existing industrial assets. These assets include large-scale distribution centers, regional logistics facilities, light industrial spaces, and other types of industrial properties. As of September 30, 2020, their combined portfolio of owned and actively developed industrial space amounted to roughly 64.1 million square feet.

Chicago, IL
151 employees
Real Estate / REIT - Industrial
Sector
Real Estate
Industry
REIT - Industrial
CEO
Peter E. Baccile