LXP Industrial Trust key statistics and ratios
In fiscal 2025, LXP Industrial Trust had return on equity of 5.5%, a net margin of 32.3% and debt equal to 66.4% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | 86.2% | 82.9% | 82.9% | 83.1% | 81.6% | 81.4% |
| Net margin | 22.3% | 21.8% | 57.3% | 85.9% | 55.5% | 111.2% | 35.4% | 8.9% | 12.4% | 32.3% | 34.3% |
| Free-cash-flow margin | 54.8% | 54.2% | 51.0% | 59.0% | 61.1% | 64.1% | 60.5% | 61.5% | 58.9% | 53.9% | 53.1% |
| Return on equity | 6.9% | 6.3% | 17.1% | 18.4% | 10.0% | 18.0% | 4.9% | 1.3% | 2.1% | 5.5% | 5.9% |
| Return on assets | 2.8% | 2.4% | 7.0% | 9.1% | 5.5% | 10.2% | 2.8% | 0.7% | 1.1% | 3.1% | 3.4% |
| Asset turnover | 0.12 | 0.11 | 0.12 | 0.11 | 0.10 | 0.09 | 0.08 | 0.08 | 0.09 | 0.09 | 0.10 |
| Debt to equity | 9.1% | 9.6% | 52.5% | 30.4% | 13.4% | 9.2% | 8.5% | 8.4% | 74.8% | 66.4% | 66.1% |
| Effective tax rate | 1.6% | 2.1% | 0.7% | 0.5% | 0.8% | 0.3% | 1.1% | 0.5% | 0.2% | 0.1% | 0.0% |
| Capital spending as % of revenue | 1.0% | 3.9% | 3.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Free cash flow ÷ net income | 246.2% | 248.5% | 89.0% | 68.7% | 110.1% | 57.6% | 170.7% | 689.4% | 474.2% | 166.8% | 154.9% |
| Dividends ÷ net income | 173.4% | 201.1% | 77.2% | 43.9% | 64.6% | 33.5% | 125.2% | 500.1% | 355.1% | 145.2% | 139.9% |
| Dividends and buybacks ÷ free cash flow | 70.5% | 80.9% | 110.1% | 65.8% | 64.1% | 58.2% | 140.6% | 72.5% | 74.9% | 89.2% | 101.0% |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 85.3% | 80.7% | 81.9% | 82.3% | 81.5% | 80.5% | 81.6% | 82.0% |
| Net margin | 32.8% | 21.4% | 33.2% | 41.7% | 33.2% | −0.3% | 0.1% | 101.4% |
| Free-cash-flow margin | 68.6% | 43.9% | 50.5% | 73.1% | 48.3% | 43.6% | 55.3% | 64.7% |
| Debt to equity | 74.8% | 73.3% | 72.2% | 72.3% | 66.4% | 67.9% | 70.0% | 66.1% |
Moat
Weak moat
How hard LXP Industrial Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 4 / 20
Net income has been a median 4.0% of total assets over 10 years.
- Durability 12 / 20
Net margin has been a median 49.2%; its worst year was 7.7%.
- Cash conversion 13 / 20
Free cash flow was positive in 8 of 9 years, at a median 7.2% of revenue.
- Discipline 5 / 20
The diluted share count rose 22.3% over five years.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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