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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 | $490.4M | $476.4M | $485.9M | $495.6M | $505.5M |
| % growth | 6.8% | 5.3% | 5.1% | -5.7% | -2.8% | 2.0% | 2.0% | 2.0% | |
| Direct costs / COGS | $127.6M | $131.6M | $138.6M | $145.6M | $147.7M | $147.6M | $148.4M | $149.3M | $150.1M |
| Gross profit (NOI for real estate) | $312.4M | $338.4M | $356.4M | $374.4M | $342.6M | $328.8M | $337.5M | $346.3M | $355.4M |
| % margin | 71.0% | 72.0% | 72.0% | 72.0% | 69.9% | 69.0% | 69.5% | 69.9% | 70.3% |
| Operating expenses (cash, adjusted) | $8.8M | $9.4M | $9.9M | $10.4M | $9.8M | $9.5M | $9.7M | $9.9M | $10.1M |
| EBITDA (company-adjusted basis) | $303.6M | $329.0M | $346.5M | $364.0M | $332.8M | $319.3M | $327.7M | $336.4M | $345.3M |
| % margin | 69.0% | 70.0% | 70.0% | 70.0% | 67.9% | 67.0% | 67.5% | 67.9% | 68.3% |
| D&A | $132.0M | $141.0M | $148.5M | $156.0M | $147.1M | $142.9M | $145.8M | $148.7M | $151.7M |
| 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 | $185.7M | $176.4M | $182.0M | $187.7M | $193.6M |
| Interest expense | $75.8M | $80.2M | $84.7M | $89.2M | $97.4M | $84.7M | $83.7M | $83.7M | $83.7M |
| EBT | $95.8M | $107.8M | $113.3M | $118.8M | $88.3M | $91.7M | $98.3M | $104.0M | $109.9M |
| Taxes | $24.0M | $26.9M | $28.3M | $29.7M | $22.1M | $22.9M | $24.6M | $26.0M | $27.5M |
| Net income (model basis) | $71.9M | $80.8M | $85.0M | $89.1M | $66.2M | $68.8M | $73.7M | $78.0M | $82.4M |
| Capex | $44.0M | $47.0M | $49.5M | $52.0M | $46.6M | $45.3M | $46.2M | $47.1M | $48.0M |
| Working capital & other cash items | $0.5M | $0.9M | $0.8M | $0.8M | $0.1M | $0.5M | $1.3M | $1.3M | $1.3M |
| Free cash flow | $159.4M | $173.9M | $183.2M | $192.4M | $166.7M | $165.9M | $172.1M | $178.3M | $184.8M |
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 |