What is FR's Value Score?

First Industrial Realty Trust, Inc. Common Stock (FR) has a StockPik Value Score of 38 out of 100 — a low score, indicating weak value characteristics. The Value Score is a composite ranking built from P/E ratio, P/B ratio, Graham Number, ROE, gross margin, debt-to-equity, current ratio, and Piotroski F-Score, calculated from SEC EDGAR annual filing data.

What is FR's Piotroski F-Score?

First Industrial Realty Trust, Inc. Common Stock (FR) has a Piotroski F-Score of 3 out of 9 — a weak score indicating financial deterioration across multiple criteria. The F-Score assesses nine binary financial criteria across profitability, leverage, and operating efficiency. A score of 7–9 indicates a financially improving company; a score of 0–3 is a warning sign.

Is FR trading below its Graham Number?

FR is currently trading above its Graham Number. The stock price of $62.44 exceeds the Graham Number of $33.17, meaning it does not meet Graham's criterion for a margin of safety at the current price. The Graham Number is calculated as √(22.5 × EPS × Book Value Per Share) and represents Benjamin Graham's ceiling price for a defensive investor.

What is FR's Graham Number?

FR's Graham Number is $33.17, calculated using the Benjamin Graham formula √(22.5 × EPS × Book Value per Share). The Graham Number is an estimate of intrinsic value — the maximum price a defensive investor should pay. At the current price of $62.44, FR is trading 88% above its Graham Number.

What is FR's Piotroski F-Score?

FR's Piotroski F-Score is 3 out of 9, indicating weak financial health and possible deterioration. The Piotroski F-Score evaluates nine criteria across profitability, leverage, and operating efficiency. Scores of 7 or above are considered strong; 3 or below indicate financial weakness.

Is FR (First Industrial Realty Trust, Inc. Common Stock) undervalued?

FR scores 38/100 on StockPik's Value Score. The stock trades 88% above its Graham Number of $33.17.

What is FR's P/E ratio?

FR's trailing P/E ratio is 26.6x — an elevated earnings multiple, potentially pricing in high growth expectations. The Financial Services sector average P/E is 19.3x. Compare against other Financial Services stocks in the StockPik screener.

Does First Industrial Realty Trust, Inc. Common Stock (FR) pay a dividend?

Yes, FR currently pays a dividend yield of 2.9%. View the full dividend and value analysis on StockPik.

What sector is First Industrial Realty Trust, Inc. Common Stock (FR) in?

First Industrial Realty Trust, Inc. Common Stock (FR) is in the Financial Services sector, specifically in the Real Estate Investment Trusts industry. Compare it against other Financial Services stocks by Value Score, P/E ratio, and Piotroski F-Score on StockPik.

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First Industrial Realty Trust, Inc. Common Stock (FR)

NYSE Mid Cap

Financial Services › Real Estate Investment Trusts

$62.44

Market Cap: $8.3B

Data as of Mar 31, 2026 (TTM)

Price History

Feb 9, 2026 — May 22, 2026

Investment Snapshot

Trading 88% above Graham Number — above intrinsic value estimate
Piotroski F-Score 3/9 — signs of financial weakness
ROE of 11.3% — below-average profitability
Revenue growing at 9% annually

First Industrial Realty Trust, Inc. Common Stock (FR) is a Financial Services company operating in Real Estate Investment Trusts, listed on the NYSE , with a market capitalisation of $8.3 billion . Key value metrics: P/E ratio 26.6, P/B ratio 3.00, Piotroski F-Score 3 out of 9 .

Value Score

out of 100

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Key Metrics

P/E Ratio

26.56

P/B Ratio

3.00

EPS

$2.35

Div. Yield

2.9%

PEG Ratio

—

P/S Ratio

—

EV/EBITDA

—

ROE

—

ROA

—

Gross Margin

—

Op. Margin

—

Net Margin

—

Debt/Equity

—

Current Ratio

—

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Current vs 5-Year Average

Based on 5 years of SEC filings

Net Margin

—

↑ +2.1pp avg —

Gross Margin

—

↑ +2.1pp avg —

Operating Margin

—

↑ +2.1pp avg —

Return on Equity

—

↑ +2.1pp avg —

Debt / Equity

—

↑ +2.1pp avg —

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Revenue & Net Income

Profit Margins

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EPS & Free Cash Flow Per Share

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Financial Statements

Metric	FY22	FY23	FY24
Revenue	$X.XB	$X.XB	$X.XB
Gross Profit	$X.XB	$X.XB	$X.XB
Operating Income	$X.XB	$X.XB	$X.XB
Net Income	$X.XB	$X.XB	$X.XB
EBITDA	$X.XB	$X.XB	$X.XB
Total Assets	$X.XB	$X.XB	$X.XB
Total Liabilities	$X.XB	$X.XB	$X.XB

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Data sourced from SEC EDGAR and Polygon.io. Methodology. View more Financial Services stocks →

First Industrial Realty Trust, Inc. Common Stock — Fundamental Analysis Summary

First Industrial Realty Trust, Inc. Common Stock (FR) is currently trading 88% above its Graham Number of $33.17, suggesting the market price exceeds Benjamin Graham's intrinsic value estimate. The stock carries an elevated trailing P/E ratio of 26.6x.

On financial health, FR shows a weak Piotroski F-Score of 3/9, a signal of deteriorating financial health, and modest return on equity of 11.3% (sector average: 4.9%), and elevated leverage with a debt-to-equity ratio of 1.10.

StockPik's composite Value Score for FR is 38/100 — reflecting current market or financial concerns. The score is built from ten fundamental signals: P/E, P/B, PEG ratio, P/S ratio, return on equity, gross margin, debt-to-equity, current ratio, dividend yield, and Piotroski F-Score.

FR shows revenue growing at 9% year-over-year, with earnings declining at 14%.

FR pays a modest dividend yield of 2.9%.

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How is the Value Score calculated?

Read our full methodology →

How is the Graham Number calculated?

Benjamin Graham's intrinsic value formula, worked examples, and how to use it →

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