Modiv Industrial, Inc.

MDV

Real EstateSmall CapUS Equities · NYSE / NASDAQ

AI Agents

Company Profile

Modiv Industrial, Inc. is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains. Modiv Industrial, Inc. was incorporated in 2015 in Maryland, USA.

Valuation

Market Cap$189M

Current Price$17.89as of Jun 23, 2026

P/E Ratio176.51

P/B Ratio1.16

EV / EBITDA13.29

EV / Sales9.39

Profitability

Operating Margin41.2%

Net Profit Margin2.3%

EBITDA Margin70.6%

Returns

ROE0.7%

ROCE8.6%

ROIC %3.1%

ROA0.2%

Solvency

Current Ratio0.16

Debt / Equity1.61

Debt / Assets0.55

CFO / Net Profit14.01

Price History▲ 24.67% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$46M▼ 0.8%

EBITDA$33M▼ 22.8%

Net Profit$1M▼ 82.3%

Cash from Ops (CFO)$15M▼ 17.9%

Free Cash Flow (FCF)$15M▼ 17.9%

Revenue CAGR 3Y1.9%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$46M	$33M	$1M	$15M	0.7%	-0.8%	-82.3%
2024	$47M	$42M	$6M	$18M	3.2%	-1.0%	-191.0%
2023	$47M	$24M	$-7M	$17M	-4.6%	7.8%	101.1%
2022	$44M	$18M	$-3M	$17M	-2.1%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	43.82	47.23	46.76	46.39
Operating Revenue	-	43.82	47.23	46.76	46.39
Cost Of Revenue	-	6.55	5.16	3.61	3.46
Gross Profit	-	37.27	42.07	43.15	42.93
Operating Expense	-	25.14	33.36	24.53	23.81
Selling General And Administration	-	10.21	17.81	7.93	8.73
Total Expenses	-	31.69	38.53	28.14	27.27
Operating Income	-	12.13	8.71	18.62	19.11
Total Operating Income As Reported	-	4.93	2.61	21.98	15.82
EBITDA	-	18.04	24.36	42.47	32.77
Normalized EBITDA	-	26.33	23.22	34.13	34.39
EBIT	-	3.11	8.81	25.87	17.68
Interest Income	-	0.02	0.33	0.47	0.89
Interest Expense	-	7.62	17.50	19.38	17.13
Net Interest Income	-	-8.44	-18.54	-20.47	-16.94
Other Non Operating Income Expenses	0.28	0.09	0.30	-	-
Other Income Expense	-	-8.20	1.14	8.35	-1.62
Interest Income Non Operating	-	0.02	0.33	0.47	0.89
Interest Expense Non Operating	-	7.62	17.50	19.38	17.13
Net Non Operating Interest Income Expense	-	-8.44	-18.54	-20.47	-16.94
Pretax Income	-	-4.51	-8.70	6.49	0.55
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0	0	1.75	-0.34
Net Income Continuous Operations	-	-4.51	-8.70	6.49	0.55
Net Income From Continuing And Discontinued Operation	-	-3.29	-6.61	6.02	1.07
Net Income From Continuing Operation Net Minority Interest	-	-3.29	-6.61	6.02	1.07
Net Income	-	-3.29	-6.61	6.02	1.07
Net Income Common Stockholders	-	-6.98	-10.30	2.33	-3.12
Net Income Including Noncontrolling Interests	-	-4.51	-8.70	6.49	0.55
Normalized Income	-	5.01	-7.75	-0.58	2.35
Diluted NI Availto Com Stockholders	-	-6.98	-12.38	2.80	-3.60
Basic Average Shares	-	7.49	7.56	9.29	10.14
Diluted Average Shares	-	7.49	7.56	11.19	11.68
Reconciled Depreciation	-	13.92	14.74	15.75	14.23
Reconciled Cost Of Revenue	-	7.55	5.97	4.46	4.31
Total Unusual Items	-	-8.30	1.14	8.35	-1.62
Total Unusual Items Excluding Goodwill	-	-8.30	1.14	8.35	-1.62
Preferred Stock Dividends	-	3.69	3.69	3.69	3.21
Minority Interests	-	1.22	2.08	-0.48	0.51
Special Income Charges	-	-21.13	-4.39	0	-6.58
Other Special Charges	-0.49	1.73	-	-	0.77
Impairment Of Capital Assets	-	19.40	4.39	0	5.81
Gain On Sale Of Security	-	12.83	5.53	8.35	4.96
Depreciation Amortization Depletion Income Statement	-	14.93	15.55	16.60	15.09
Depreciation And Amortization In Income Statement	-	14.93	15.55	16.60	15.09
General And Administrative Expense	-	10.21	17.81	7.93	8.73
Other Gand A	-	7.81	6.64	6.34	5.81
Salaries And Wages	-	2.40	11.17	1.59	2.92
Total Other Finance Cost	-	0.84	1.37	1.57	0.70
Otherunder Preferred Stock Dividend	-	-	-	0	0.95
Earnings From Equity Interest	0.28	0.28	-	-	-
Average Dilution Earnings	-	-	-2.08	0.48	-0.48

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Modiv Industrial, Inc.this co.	MDV	$189M	176.51↑ premium	1.16	0.7%	13.29
American Realty Investors, Inc.	ARL	$233M	14.81	0.38	2.6%	10.64
Stratus Properties Inc.	STRS	$213M	17.75	1.04	5.9%	17.95
Angel Oak Mortgage REIT, Inc.	AOMR	$203M	4.60	0.76	16.5%	-
Seven Hills Realty Trust	SEVN

Learn while you research

Hand-picked academy chapters to deepen your understanding of Modiv Industrial, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

Loading…

Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$46M

$33M

$1M

$15M

0.7%

-0.8%

-82.3%

2024

$47M

$42M

$6M

$18M

3.2%

-1.0%

-191.0%

2023

$47M

$24M

$-7M

$17M

-4.6%

7.8%

101.1%

2022

$44M

$18M

$-3M

$17M

-2.1%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

43.82

47.23

46.76

46.39

Operating Revenue

43.82

47.23

46.76

46.39

Cost Of Revenue

6.55

5.16

3.61

3.46

Gross Profit

37.27

42.07

43.15

42.93

Operating Expense

25.14

33.36

24.53

23.81

Selling General And Administration

10.21

17.81

7.93

8.73

Total Expenses

31.69

38.53

28.14

27.27

Operating Income

12.13

8.71

18.62

19.11

Total Operating Income As Reported

4.93

2.61

21.98

15.82

EBITDA

18.04

24.36

42.47

32.77

Normalized EBITDA

26.33

23.22

34.13

34.39

EBIT

3.11

8.81

25.87

17.68

Interest Income

0.02

0.33

0.47

0.89

Interest Expense

7.62

17.50

19.38

17.13

Net Interest Income

-8.44

-18.54

-20.47

-16.94

Other Non Operating Income Expenses

0.28

0.09

0.30

Other Income Expense

-8.20

1.14

8.35

-1.62

Interest Income Non Operating

0.02

0.33

0.47

0.89

Interest Expense Non Operating

7.62

17.50

19.38

17.13

Net Non Operating Interest Income Expense

-8.44

-18.54

-20.47

-16.94

Pretax Income

-4.51

-8.70

6.49

0.55

Tax Rate For Calcs

Tax Effect Of Unusual Items

1.75

-0.34

Net Income Continuous Operations

-4.51

-8.70

6.49

0.55

Net Income From Continuing And Discontinued Operation

-3.29

-6.61

6.02

1.07

Net Income From Continuing Operation Net Minority Interest

-3.29

-6.61

6.02

1.07

Net Income

-3.29

-6.61

6.02

1.07

Net Income Common Stockholders

-6.98

-10.30

2.33

-3.12

Net Income Including Noncontrolling Interests

-4.51

-8.70

6.49

0.55

Normalized Income

5.01

-7.75

-0.58

2.35

Diluted NI Availto Com Stockholders

-6.98

-12.38

2.80

-3.60

Basic Average Shares

7.49

7.56

9.29

10.14

Diluted Average Shares

7.49

7.56

11.19

11.68

Reconciled Depreciation

13.92

14.74

15.75

14.23

Reconciled Cost Of Revenue

7.55

5.97

4.46

4.31

Total Unusual Items

-8.30

1.14

8.35

-1.62

Total Unusual Items Excluding Goodwill

-8.30

1.14

8.35

-1.62

Preferred Stock Dividends

3.69

3.21

Minority Interests

1.22

2.08

-0.48

0.51

Special Income Charges

-21.13

-4.39

-6.58

Other Special Charges

-0.49

1.73

0.77

Impairment Of Capital Assets

19.40

4.39

5.81

Gain On Sale Of Security

12.83

5.53

8.35

4.96

Depreciation Amortization Depletion Income Statement

14.93

15.55

16.60

15.09

Depreciation And Amortization In Income Statement

14.93

15.55

16.60

15.09

General And Administrative Expense

10.21

17.81

7.93

8.73

Other Gand A

7.81

6.64

6.34

5.81

Salaries And Wages

2.40

11.17

1.59

2.92

Total Other Finance Cost

0.84

1.37

1.57

0.70

Otherunder Preferred Stock Dividend

0.95

Earnings From Equity Interest

0.28

Average Dilution Earnings

-2.08

0.48

-0.48

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Modiv Industrial, Inc.this co.

MDV

$189M

176.51↑ premium

1.16

0.7%

13.29

American Realty Investors, Inc.

ARL

$233M

14.81

0.38

2.6%

10.64

Stratus Properties Inc.

STRS

$213M

17.75

1.04

5.9%

17.95

Angel Oak Mortgage REIT, Inc.

AOMR

$203M

4.60

0.76

16.5%

Seven Hills Realty Trust

SEVN

Modiv Industrial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Modiv Industrial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on