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The Company Modiv Industrial, Inc. ( Modiv ) is an internally-managed Maryland corporation that acquires, owns and manages a portfolio of single-tenant net-lease properties throughout the United States, with a focus on critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation s supply chains. Modiv also owns three non-…
34.10% operating margin is above average. ROIC at 2.80%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 0.8% YoY. Margins deteriorated 12.9pp alongside, both lines moving the wrong way.
Operating margin contracted 12.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$46M
▼ -0.8% YoY
Net Income (TTM)
$152K
▼ -82.3% YoY
Op. Margin
33.02%
▼ -12.9pp YoY
ROIC
2.77%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$16M
▼ -17.9% YoY
Net Debt
$269M
Cash & Equiv.
$4M
5Y CAGR: +3.7%
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