STAG Industrial (STAG) financial statements
STAG Industrial reported revenue of $845M in fiscal 2025, up 14.5% a year over 9 years.
Net income was $274M and the operating margin 37.5%, against 8.0% in 2016.
Free cash flow was $259M, and the company returned $284M in dividends.
The diluted share count rose 164% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from STAG Industrial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $250M | $301M | $351M | $406M | $483M | $562M | $657M | $708M | $767M | $845M |
| Selling, general and admin | $33M | $33M | $34M | $36M | $40M | $49M | $47M | $47M | $49M | $52M |
| Operating income | $20M | $50M | $73M | $98M | $132M | $164M | $204M | $238M | $263M | $317M |
| Interest expense | $43M | $42M | $49M | $55M | $62M | $63M | $78M | $95M | $113M | $132M |
| Net income | $35M | $31M | $93M | $49M | $202M | $192M | $178M | $193M | $189M | $274M |
| Diluted shares | 71M | 90M | 104M | 126M | 149M | 164M | 179M | 181M | 182M | 187M |
| Operating margin | 8.0% | 16.7% | 20.8% | 24.1% | 27.2% | 29.2% | 31.0% | 33.6% | 34.3% | 37.5% |
| Net margin | 13.8% | 10.4% | 26.5% | 12.1% | 41.8% | 34.2% | 27.1% | 27.2% | 24.7% | 32.4% |
Balance sheet
Fiscal years, from STAG Industrial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $12M | $25M | $8M | $9M | $16M | $19M | $26M | $21M | $36M | $15M |
| Goodwill | — | — | — | — | $5M | $5M | $5M | — | — | — |
| Total assets | $2.2B | $2.7B | $3.1B | $4.2B | $4.7B | $5.8B | $6.2B | $6.3B | $6.8B | $7.2B |
| Total liabilities | $1.1B | $1.3B | $1.4B | $1.8B | $1.9B | $2.4B | $2.7B | $2.8B | $3.3B | $3.5B |
| Shareholders' equity | $1.0B | $1.4B | $1.6B | $2.3B | $2.7B | $3.3B | $3.4B | $3.4B | $3.5B | $3.6B |
| Net debt | -$12M | -$25M | -$8M | -$9M | -$16M | -$19M | -$26M | -$21M | -$36M | -$15M |
Cash flow
Fiscal years, from STAG Industrial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $136M | $162M | $198M | $233M | $294M | $336M | $388M | $391M | $460M | $463M |
| Capital spending | $30M | $46M | $35M | $65M | $56M | $40M | $112M | $108M | $150M | $205M |
| Free cash flow | $105M | $116M | $163M | $168M | $238M | $297M | $276M | $283M | $310M | $259M |
| Stock-based compensation | $10M | $10M | $9M | $10M | $12M | $15M | $12M | $11M | $12M | $13M |
| Dividends paid | $117M | $141M | $159M | $190M | $224M | $246M | $267M | $268M | $275M | $284M |
| Free cash flow margin | 42.1% | 38.6% | 46.5% | 41.5% | 49.3% | 52.8% | 42.0% | 40.0% | 40.4% | 30.6% |
| Dividends per share | $1.66 | $1.57 | $1.53 | $1.51 | $1.50 | $1.50 | $1.49 | $1.48 | $1.51 | $1.52 |
Questions
What was STAG Industrial's revenue in 2025?
$845M in fiscal 2025, from its 10-K filing.
How much free cash flow does STAG Industrial generate?
$259M in fiscal 2025 (operating cash flow minus capital spending).
From STAG Industrial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.