What is Modiv Industrial Inc's earnings per share (EPS)?

Modiv Industrial Inc (MDV) reported diluted earnings per share of $-0.31 for fiscal year 2025. This represents a -224.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Modiv Industrial Inc Financials

MDV

Source SEC Filings (10-K/10-Q) Updated May 8, 2026 Currency USD FYE December

This page shows Modiv Industrial Inc (MDV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MDV FY2025 2026-04-30

Debt-funded assets keep cash generation steadier than earnings, but interest now absorbs most of the business's operating lift.

With revenue essentially flat from FY2023 through FY2025, operating income fell from $22.0M in FY2024 to $15.8M, while interest expense moved higher, so the swing in shareholder profit came more from financing drag than from top-line change. Operating cash flow stayed in a relatively narrow band of $15.0M to $18.2M, which suggests the assets' cash output is more stable than reported earnings because non-cash charges materially shape the income statement.

The balance sheet remains debt-led: long-term debt of $261.5M sits against cash of just $14.4M, so this is a business financed primarily by borrowed capital and supported by asset cash yield rather than by a large cash buffer.

A quieter shift is working-capital pressure: accounts receivable rose from $12.8M to $23.4M across FY2023-FY2025 while revenue barely changed, suggesting more cash is tied up before collection and helping explain why operating cash flow eased even though net income stayed above zero.

Financial Health Signals

Financial Profile 34/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Modiv Industrial Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Modiv Industrial Inc has an operating margin of 34.1%, meaning the company retains $34 of operating profit per $100 of revenue. This strong profitability earns a score of 94/100, reflecting efficient cost management and pricing power. This is down from 47.0% the prior year.

Growth

Modiv Industrial Inc's revenue declined 0.8% year-over-year, from $46.8M to $46.4M. This contraction results in a growth score of 32/100.

Leverage

Modiv Industrial Inc carries a low D/E ratio of 1.61, meaning only $1.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Returns

Modiv Industrial Inc generates a 0.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is down from 3.2% the prior year.

Piotroski F-Score Neutral

5/9

Modiv Industrial Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

14.01x

For every $1 of reported earnings, Modiv Industrial Inc generates $14.01 in operating cash flow ($15.0M OCF vs $1.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

0.9x

Modiv Industrial Inc earns $0.9 in operating income for every $1 of interest expense ($15.8M vs $16.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$46.4M

YoY-0.8%

5Y CAGR+3.7%

Modiv Industrial Inc generated $46.4M in revenue in fiscal year 2025. This represents a decrease of 0.8% from the prior year.

EBITDA

$30.9M

YoY-19.9%

Modiv Industrial Inc's EBITDA was $30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.9% from the prior year.

Net Income

$1.1M

YoY-82.3%

Modiv Industrial Inc reported $1.1M in net income in fiscal year 2025. This represents a decrease of 82.3% from the prior year.

EPS (Diluted)

$-0.31

YoY-224.0%

Modiv Industrial Inc earned $-0.31 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 224.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$14.4M

YoY+24.7%

5Y CAGR+11.8%

Modiv Industrial Inc held $14.4M in cash against $261.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.17

YoY+1.7%

5Y CAGR-4.3%

Modiv Industrial Inc paid $1.17 per share in dividends in fiscal year 2025. This represents an increase of 1.7% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

34.1%

YoY-12.9pp

5Y CAGR+160.2pp

Modiv Industrial Inc's operating margin was 34.1% in fiscal year 2025, reflecting core business profitability. This is down 12.9 percentage points from the prior year.

Net Margin

2.3%

YoY-10.6pp

5Y CAGR+129.5pp

Modiv Industrial Inc's net profit margin was 2.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.6 percentage points from the prior year.

Return on Equity

0.7%

YoY-2.5pp

5Y CAGR+37.8pp

Modiv Industrial Inc's ROE was 0.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Modiv Industrial Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

MDV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$46.4M-0.8%	$46.8M-1.0%	$47.2M+2.3%	$46.2M+21.9%	$37.9M-1.9%	$38.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$5.8M-8.3%	$6.3M-4.6%	$6.6M-15.0%	$7.8M-19.6%	$9.7M-6.6%	$10.4M
Operating Income	$15.8M-28.0%	$22.0M+741.9%	$2.6M-47.0%	$4.9M+421.2%	-$1.5M+96.9%	-$48.7M
Interest Expense	$16.9M+4.3%	$16.2M+17.5%	$13.8M+70.3%	$8.1M+6.9%	$7.6M-33.8%	$11.5M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$1.1M-82.3%	$6.0M+191.0%	-$6.6M-101.1%	-$3.3M-655.1%	-$436K+99.1%	-$49.1M
EPS (Diluted)	$-0.31-224.0%	$0.25+118.4%	$-1.36-46.2%	$-0.93-365.0%	$-0.20+96.7%	$-6.14

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$11.7M+5.7%	$11.1M-5.2%	$11.7M-1.2%	$11.8M+0.3%	$11.8M+0.5%	$11.7M+0.6%	$11.7M+2.1%	$11.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.5M+20.9%	$1.2M-9.1%	$1.4M+14.0%	$1.2M-39.7%	$2.0M+58.0%	$1.3M-24.1%	$1.7M+17.1%	$1.4M
Operating Income	$4.2M-17.2%	$5.1M+4.8%	$4.8M+315.8%	$1.2M-75.4%	$4.7M-11.1%	$5.3M+8.8%	$4.9M-3.8%	$5.1M
Interest Expense	$212K-95.6%	$4.8M+18.4%	$4.1M+0.9%	$4.0M-0.8%	$4.0M+9.2%	$3.7M-39.3%	$6.1M+48.8%	$4.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$87K-107.2%	$1.2M+15.7%	$1.0M+151.8%	-$2.0M-343.9%	$829K-46.7%	$1.6M+365.1%	-$587K-144.3%	$1.3M
EPS (Diluted)	$-0.11	N/A	$0.00+100.0%	$-0.32-3100.0%	$-0.01	N/A	$-0.18-700.0%	$0.03

MDV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$476.5M-6.2%	$507.8M-4.3%	$530.9M+16.8%	$454.4M+6.1%	$428.5M+5.2%	$407.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$14.4M+24.7%	$11.5M+268.5%	$3.1M-63.7%	$8.6M-84.6%	$56.0M+578.5%	$8.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$23.4M+27.0%	$18.5M+44.3%	$12.8M+76.2%	$7.3M+21.1%	$6.0M-10.0%	$6.7M
Goodwill	N/A	N/A	N/A	$0-100.0%	$17.3M0.0%	$17.3M
Total Liabilities	$274.4M-6.6%	$293.8M-3.9%	$305.8M+43.3%	$213.4M+3.6%	$206.1M-5.1%	$217.2M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$261.5M-6.5%	$279.8M+0.1%	$279.5M+43.0%	$195.5M+22.0%	$160.2M-11.9%	$181.9M
Total Equity	$162.7M-14.4%	$190.1M+31.6%	$144.4M-9.6%	$159.8M-7.0%	$171.8M+29.9%	$132.3M
Retained Earnings	-$168.1M-9.1%	-$154.1M-5.9%	-$145.6M-23.4%	-$117.9M-16.1%	-$101.6M-10.4%	-$92.0M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$484.3M+1.6%	$476.5M-4.6%	$499.6M+0.1%	$498.9M-1.6%	$506.8M-0.2%	$507.8M+0.1%	$507.4M-2.3%	$519.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$4.5M-68.9%	$14.4M+74.0%	$8.3M+42.1%	$5.8M-5.7%	$6.2M-46.5%	$11.5M+68.9%	$6.8M-63.8%	$18.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$24.6M+4.9%	$23.4M+5.9%	$22.1M+6.3%	$20.8M+6.4%	$19.6M+6.0%	$18.5M+6.2%	$17.4M+8.2%	$16.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$286.6M+4.4%	$274.4M-6.9%	$294.8M+0.7%	$292.6M-0.3%	$293.4M-0.1%	$293.8M-0.6%	$295.6M+0.6%	$293.8M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$23.7M-90.9%	$261.5M-6.5%	$279.7M0.0%	$279.7M0.0%	$279.7M0.0%	$279.8M0.0%	$279.7M0.0%	$279.7M
Total Equity	$159.3M-2.1%	$162.7M-1.3%	$164.8M-0.5%	$165.6M-3.2%	$171.1M-10.0%	$190.1M+2.1%	$186.3M-0.4%	$187.0M
Retained Earnings	-$172.1M-2.4%	-$168.1M-1.6%	-$165.5M-1.7%	-$162.8M-3.7%	-$157.0M-1.9%	-$154.1M-1.4%	-$151.9M-2.9%	-$147.7M

MDV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$15.0M-17.9%	$18.2M+10.0%	$16.6M-0.4%	$16.6M+71.1%	$9.7M+74.4%	$5.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$27.8M+231.2%	$8.4M+109.0%	-$93.6M-53.3%	-$61.1M-379.7%	$21.8M-11.9%	$24.8M
Financing Cash Flow	-$39.9M-118.9%	-$18.2M-125.5%	$71.5M+1428.7%	-$5.4M-129.2%	$18.5M+163.9%	-$28.9M
Dividends Paid	N/A	N/A	N/A	$9.3M+1174.1%	$733K-85.4%	$5.0M
Share Buybacks	$0-100.0%	$11.5M+921.6%	$1.1M-72.9%	$4.2M-78.2%	$19.1M+8.6%	$17.6M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$4.1M+6.8%	$3.8M-7.2%	$4.1M+5.1%	$3.9M+29.1%	$3.0M-43.6%	$5.4M+5.2%	$5.1M+9.1%	$4.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$8.0M-132.6%	$24.4M+694.7%	$3.1M+166.9%	$1.2M+233.3%	-$864K+41.9%	-$1.5M+65.8%	-$4.3M-841.4%	-$461K
Financing Cash Flow	-$6.0M+74.7%	-$23.8M-674.2%	-$3.1M+43.4%	-$5.4M+27.9%	-$7.6M-1061.9%	$785K+106.1%	-$12.8M-239.4%	-$3.8M
Dividends Paid	$3.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	N/A	N/A	N/A	$0-100.0%	$11.5M	$0

MDV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	34.1%-12.9pp	47.0%+41.5pp	5.5%-5.1pp	10.7%+14.7pp	-4.0%+122.0pp	-126.1%
Net Margin	2.3%-10.6pp	12.9%+26.9pp	-14.0%-6.9pp	-7.1%-6.0pp	-1.1%+126.0pp	-127.2%
Return on Equity	0.7%-2.5pp	3.2%+7.7pp	-4.6%-2.5pp	-2.1%-1.8pp	-0.3%+36.9pp	-37.1%
Return on Assets	0.2%-1.0pp	1.2%+2.4pp	-1.3%-0.5pp	-0.7%-0.6pp	-0.1%+12.0pp	-12.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.61+0.1	1.47-0.5	1.94+0.7	1.22+0.3	0.93-0.4	1.38
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	35.9%-9.9pp	45.8%+4.4pp	41.4%+31.6pp	9.8%-30.3pp	40.2%-5.3pp	45.4%+3.4pp	42.0%-2.6pp	44.6%
Net Margin	-0.7%-11.7pp	10.9%+2.0pp	9.0%+26.1pp	-17.1%-24.1pp	7.0%-6.2pp	13.3%+18.3pp	-5.0%-16.6pp	11.6%
Return on Equity	-0.1%-0.8pp	0.8%+0.1pp	0.6%+1.9pp	-1.2%-1.7pp	0.5%-0.3pp	0.8%+1.1pp	-0.3%-1.0pp	0.7%
Return on Assets	-0.0%-0.3pp	0.3%+0.0pp	0.2%+0.6pp	-0.4%-0.6pp	0.2%-0.1pp	0.3%+0.4pp	-0.1%-0.4pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.15-1.5	1.61-0.1	1.700.0	1.69+0.1	1.63+0.2	1.47-0.0	1.500.0	1.50
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Modiv Industrial Inc's annual revenue?

Modiv Industrial Inc (MDV) reported $46.4M in total revenue for fiscal year 2025. This represents a -0.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Modiv Industrial Inc's revenue growing?

Modiv Industrial Inc (MDV) revenue declined by 0.8% year-over-year, from $46.8M to $46.4M in fiscal year 2025.

Is Modiv Industrial Inc profitable?

Yes, Modiv Industrial Inc (MDV) reported a net income of $1.1M in fiscal year 2025, with a net profit margin of 2.3%.

What is Modiv Industrial Inc's EBITDA?

Modiv Industrial Inc (MDV) had EBITDA of $30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Modiv Industrial Inc have?

As of fiscal year 2025, Modiv Industrial Inc (MDV) had $14.4M in cash and equivalents against $261.5M in long-term debt.

What is Modiv Industrial Inc's operating margin?

Modiv Industrial Inc (MDV) had an operating margin of 34.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Modiv Industrial Inc's net profit margin?

Modiv Industrial Inc (MDV) had a net profit margin of 2.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Modiv Industrial Inc pay dividends?

Yes, Modiv Industrial Inc (MDV) paid $1.17 per share in dividends during fiscal year 2025.

What is Modiv Industrial Inc's return on equity (ROE)?

Modiv Industrial Inc (MDV) has a return on equity of 0.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Modiv Industrial Inc's operating cash flow?

Modiv Industrial Inc (MDV) generated $15.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Modiv Industrial Inc's total assets?

Modiv Industrial Inc (MDV) had $476.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What is Modiv Industrial Inc's debt-to-equity ratio?

Modiv Industrial Inc (MDV) had a debt-to-equity ratio of 1.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Modiv Industrial Inc's return on assets (ROA)?

Modiv Industrial Inc (MDV) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Modiv Industrial Inc's Piotroski F-Score?

Modiv Industrial Inc (MDV) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Modiv Industrial Inc's earnings high quality?

Modiv Industrial Inc (MDV) has an earnings quality ratio of 14.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Modiv Industrial Inc cover its interest payments?

Modiv Industrial Inc (MDV) has an interest coverage ratio of 0.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Modiv Industrial Inc?

Modiv Industrial Inc (MDV) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.