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MODIV INDUSTRIAL, INC.

MDV Clue Score44
United States Fiscal year ends December CIK 0001645873
$18.05 +0.00% Close, 19 Aug 2026
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Price $18.05 +45.89% Close, 19 Aug 2026

Closing prices at the end of each trading day, from 11 Feb 2022. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.9Net income−1.2Fiscal year 2017Revenue7.4 +757.6%Net income−0.9Fiscal year 2018Revenue18.0 +143.4%Net income−1.8Fiscal year 2019Revenue24.5 +36.5%Operating income−4.7Net income−4.4Fiscal year 2020Revenue38.6 +57.4%Operating income−48.7Net income−49.1EPS, diluted−6.14Fiscal year 2021Revenue37.9 −1.9%Operating income−1.5Net income−0.4EPS, diluted−0.20Fiscal year 2022Revenue46.2 +21.9%Operating income4.9Net income−3.3EPS, diluted−0.93Fiscal year 2023Revenue47.2 +2.3%Operating income2.6Net income−6.6EPS, diluted−1.36Fiscal year 2024Revenue46.8 −1.0%Operating income22.0Net income6.0EPS, diluted0.25Fiscal year 2025Revenue46.4 −0.8%Operating income15.8Net income1.1 −82.3%EPS, diluted−0.31 −224.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.9 7.4 18.0 24.5 38.6 37.9 46.2 47.2 46.8 46.4
Growth +757.6% +143.4% +36.5% +57.4% −1.9% +21.9% +2.3% −1.0% −0.8%
Operating income n/a n/a n/a −4.7 −48.7 −1.5 4.9 2.6 22.0 15.8
Net income −1.2 −0.9 −1.8 −4.4 −49.1 −0.4 −3.3 −6.6 6.0 1.1
Growth −82.3%
EPS, diluted n/a n/a n/a n/a −6.14 −0.20 −0.93 −1.36 0.25 −0.31
Growth −224.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Net margin−143.6%Fiscal year 2017Net margin−11.8%Fiscal year 2018Net margin−10.0%Fiscal year 2019Operating margin−19.2%Net margin−18.0%Fiscal year 2020Operating margin−126.1%Net margin−127.2%Fiscal year 2021Operating margin−4.0%Net margin−1.1%Fiscal year 2022Operating margin10.7%Net margin−7.1%Fiscal year 2023Operating margin5.5%Net margin−14.0%Fiscal year 2024Operating margin47.0%Net margin12.9%Fiscal year 2025Operating margin34.1%Net margin2.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a −19.2% −126.1% −4.0% 10.7% 5.5% 47.0% 34.1%
Net margin −143.6% −11.8% −10.0% −18.0% −127.2% −1.1% −7.1% −14.0% 12.9% 2.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow−0.7Buybacks−0.1Dividends paid−0.0Fiscal year 2017Operating cash flow3.8Buybacks−2.5Dividends paid−0.7Fiscal year 2018Operating cash flow5.9Buybacks−8.7Dividends paid−1.7Fiscal year 2019Operating cash flow4.7Buybacks−12.1Dividends paid−4.0Fiscal year 2020Operating cash flow5.6Buybacks−17.6Dividends paid−5.0Fiscal year 2021Operating cash flow9.7Buybacks−19.1Dividends paid−3.5Fiscal year 2022Operating cash flow16.6Buybacks−4.2Fiscal year 2023Operating cash flow16.6Buybacks−1.1Fiscal year 2024Operating cash flow18.2Buybacks−11.5Fiscal year 2025Operating cash flow15.0Buybacks0.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.7 3.8 5.9 4.7 5.6 9.7 16.6 16.6 18.2 15.0
Buybacks −0.1 −2.5 −8.7 −12.1 −17.6 −19.1 −4.2 −1.1 −11.5 0.0
Dividends paid −0.0 −0.7 −1.7 −4.0 −5.0 −3.5 n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash3.4Total debt17.3Net cash (debt)−13.8Shareholders’ equity22.2Debt to equity0.78Fiscal year 2017Cash3.2Total debt72.5Net cash (debt)−69.2Shareholders’ equity79.2Debt to equity0.91Fiscal year 2018Cash5.3Total debt131.7Net cash (debt)−126.5Shareholders’ equity103.1Debt to equity1.28Fiscal year 2019Cash6.8Total debt206.5Net cash (debt)−199.7Shareholders’ equity189.6Debt to equity1.09Fiscal year 2020Cash8.2Total debt181.9Net cash (debt)−173.7Shareholders’ equity132.3Debt to equity1.38Fiscal year 2021Cash56.0Total debt160.2Net cash (debt)−104.3Shareholders’ equity171.8Debt to equity0.93Fiscal year 2022Cash8.6Total debt195.5Net cash (debt)−186.8Shareholders’ equity159.8Debt to equity1.22Fiscal year 2023Cash3.1Total debt279.5Net cash (debt)−276.4Shareholders’ equity144.4Debt to equity1.94Fiscal year 2024Cash11.5Total debt279.8Net cash (debt)−268.2Shareholders’ equity190.1Debt to equity1.47Fiscal year 2025Cash14.4Total debt261.5Net cash (debt)−247.1Shareholders’ equity162.7Debt to equity1.61
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 3.4 3.2 5.3 6.8 8.2 56.0 8.6 3.1 11.5 14.4
Total debt 17.3 72.5 131.7 206.5 181.9 160.2 195.5 279.5 279.8 261.5
Net cash (debt) −13.8 −69.2 −126.5 −199.7 −173.7 −104.3 −186.8 −276.4 −268.2 −247.1
Shareholders’ equity 22.2 79.2 103.1 189.6 132.3 171.8 159.8 144.4 190.1 162.7
Debt to equity 0.78 0.91 1.28 1.09 1.38 0.93 1.22 1.94 1.47 1.61

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a n/a −19.2% −126.1% −4.0% 10.7% 5.5% 47.0% 34.1%
−143.6% −11.8% −10.0% −18.0% −127.2% −1.1% −7.1% −14.0% 12.9% 2.3%
Spending
148.1% 50.6% 14.3% 11.0% 26.9% 25.6% 16.9% 14.1% 13.6% 12.5%
Returns
−5.6% −1.1% −1.7% −2.3% −37.1% −0.3% −2.1% −4.6% 3.2% 0.7%
−3.0% −0.6% −0.7% −0.9% −12.1% −0.1% −0.7% −1.2% 1.2% 0.2%
Balance and payout
0.78 0.91 1.28 1.09 1.38 0.93 1.22 1.94 1.47 1.61
45.7% 49.5% 56.8% 48.2% 53.3% 48.1% 47.0% 57.6% 57.8% 57.6%