Rexford Industrial Realty (REXR) financial statements
Rexford Industrial Realty reported revenue of $589,000 in fiscal 2025, up 2.5% a year over 9 years.
Net income was $212M.
Free cash flow was $209M, and the company returned $397M in dividends and $250M in net buybacks.
The diluted share count rose 269% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Rexford Industrial Realty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $473,000 | $493,000 | $473,000 | $406,000 | $420,000 | $468,000 | $616,000 | $682,000 | $611,000 | $589,000 |
| Selling, general and admin | $17M | $22M | $25M | $30M | $37M | $49M | $64M | $75M | $82M | $79M |
| Operating income | — | — | -$156M | -$192M | -$231M | -$308M | -$411M | -$503M | -$567M | -$622M |
| Interest expense | $15M | $20M | $25M | $27M | $31M | $40M | $48M | $61M | $99M | $105M |
| Net income | $25M | $41M | $46M | $62M | $76M | $128M | $168M | $238M | $274M | $212M |
| EPS (diluted) | $0.36 | $0.48 | $0.41 | $0.47 | $0.51 | $0.80 | $0.92 | $1.12 | $1.20 | $0.86 |
| Diluted shares | 63M | 72M | 87M | 107M | 121M | 140M | 171M | 203M | 218M | 233M |
| Operating margin | — | — | -33072.7% | -47304.7% | -55085.7% | -65707.7% | -66711.9% | -73802.6% | -92806.7% | -105587.6% |
| Net margin | 5312.1% | 8258.0% | 9769.6% | 15265.8% | 18191.2% | 27401.9% | 27205.2% | 34899.7% | 44812.1% | 35998.1% |
Balance sheet
Fiscal years, from Rexford Industrial Realty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $16M | $7M | $181M | $79M | $176M | $44M | $37M | $33M | $56M | $166M |
| Total assets | $1.5B | $2.1B | $2.8B | $3.6B | $5.0B | $6.8B | $9.3B | $10.9B | $12.6B | $12.6B |
| Total liabilities | $553M | $746M | $879M | $1.0B | $1.4B | $1.7B | $2.3B | $2.8B | $3.9B | $3.8B |
| Shareholders' equity | $939M | $1.3B | $1.9B | $2.6B | $3.2B | $4.8B | $6.6B | $7.8B | $8.3B | $8.5B |
| Net debt | -$16M | -$7M | -$181M | -$79M | -$176M | -$44M | -$37M | -$33M | -$56M | -$166M |
Cash flow
Fiscal years, from Rexford Industrial Realty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $56M | $77M | $103M | $140M | $183M | $231M | $328M | $428M | $479M | $542M |
| Capital spending | $32M | $42M | $58M | $47M | $79M | $102M | $135M | $267M | $373M | $333M |
| Free cash flow | $25M | $34M | $45M | $92M | $104M | $129M | $193M | $161M | $106M | $209M |
| Stock-based compensation | $4M | $5M | $10M | $11M | $13M | $20M | $28M | $34M | $42M | $100M |
| Dividends paid | $33M | $40M | $54M | $76M | $99M | $130M | $202M | $291M | $354M | $397M |
| Share buybacks (net) | -$747,000 | — | — | — | — | — | — | $0 | $0 | -$250M |
| Net borrowing | $84M | $169M | $89M | $100M | $296M | $169M | $537M | $289M | $1.1B | -$101M |
| Free cash flow margin | 5180.5% | 6964.9% | 9476.5% | 22745.1% | 24816.4% | 27561.5% | 31266.2% | 23604.7% | 17270.9% | 35426.3% |
| Dividends per share | $0.52 | $0.56 | $0.61 | $0.71 | $0.82 | $0.93 | $1.18 | $1.43 | $1.62 | $1.71 |
Questions
What was Rexford Industrial Realty's revenue in 2025?
$589,000 in fiscal 2025, from its 10-K filing.
How much free cash flow does Rexford Industrial Realty generate?
$209M in fiscal 2025 (operating cash flow minus capital spending).
From Rexford Industrial Realty's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.