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Meridian Industrial REIT · MIR
DEMO DATAUNDERWRITING ASSUMPTIONHOLDFinancial statements DEMO DATA ANALYST PROJECTION
| $M | FY2022A | FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | FY2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $440.0M | $470.0M | $495.0M | $520.0M | $540.8M | $562.4M | $584.9M | $608.3M | $632.7M |
| % growth | 6.8% | 5.3% | 5.1% | 4.0% | 4.0% | 4.0% | 4.0% | 4.0% | |
| Direct costs / COGS | $127.6M | $131.6M | $138.6M | $145.6M | $151.4M | $156.4M | $161.4M | $166.7M | $172.1M |
| Gross profit (NOI for real estate) | $312.4M | $338.4M | $356.4M | $374.4M | $389.4M | $406.1M | $423.5M | $441.6M | $460.6M |
| % margin | 71.0% | 72.0% | 72.0% | 72.0% | 72.0% | 72.2% | 72.4% | 72.6% | 72.8% |
| Operating expenses (cash, adjusted) | $8.8M | $9.4M | $9.9M | $10.4M | $10.8M | $11.2M | $11.7M | $12.2M | $12.7M |
| EBITDA (company-adjusted basis) | $303.6M | $329.0M | $346.5M | $364.0M | $378.6M | $394.8M | $411.8M | $429.5M | $447.9M |
| % margin | 69.0% | 70.0% | 70.0% | 70.0% | 70.0% | 70.2% | 70.4% | 70.6% | 70.8% |
| D&A | $132.0M | $141.0M | $148.5M | $156.0M | $162.2M | $168.7M | $175.5M | $182.5M | $189.8M |
| Share-based compensation | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| EBIT | $171.6M | $188.0M | $198.0M | $208.0M | $216.3M | $226.1M | $236.3M | $247.0M | $258.1M |
| Interest expense | $75.8M | $80.2M | $84.7M | $89.2M | $89.2M | $78.7M | $77.7M | $77.7M | $77.7M |
| EBT | $95.8M | $107.8M | $113.3M | $118.8M | $127.2M | $147.4M | $158.6M | $169.3M | $180.4M |
| Taxes | $24.0M | $26.9M | $28.3M | $29.7M | $31.8M | $36.8M | $39.7M | $42.3M | $45.1M |
| Net income (model basis) | $71.9M | $80.8M | $85.0M | $89.1M | $95.4M | $110.5M | $119.0M | $127.0M | $135.3M |
| Capex | $44.0M | $47.0M | $49.5M | $52.0M | $54.1M | $56.2M | $58.5M | $60.8M | $63.3M |
| Working capital & other cash items | $0.5M | $0.9M | $0.8M | $0.8M | $0.6M | $0.6M | $0.7M | $0.7M | $0.7M |
| Free cash flow | $159.4M | $173.9M | $183.2M | $192.4M | $202.9M | $222.4M | $235.3M | $247.9M | $261.1M |
Historical columns are fictional demo inputs. Projections flow from the selected scenario’s assumptions (Scenarios tab): interest accrues on beginning balances by tranche; floating tranches use MAX(SOFR, floor) + spread + scenario shock; PIK accrues to principal. FCF = net income + D&A + SBC + PIK − capex − ΔNWC / other. Impairments, restructuring and other one-offs are excluded from EBITDA and net income and sit in the cash plug.
Sources & data lineage (3)
| Source | Document | Data type | Period | Accession | Doc date | Retrieved | Class |
|---|---|---|---|---|---|---|---|
| CreditIQ demo dataset | Meridian Industrial REIT — illustrative financial statements FY2022–FY2025 | Income statement / cash flow | FY2022–FY2025 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Meridian Industrial REIT — illustrative capital structure & covenants | Debt schedule | As of 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Illustrative indicative bid marks (% of par) | Market price | 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |