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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 | $431.1M | $390.1M | $382.7M | $386.5M | $394.3M |
| % growth | 6.8% | 5.3% | 5.1% | -17.1% | -9.5% | -1.9% | 1.0% | 2.0% | |
| Direct costs / COGS | $127.6M | $131.6M | $138.6M | $145.6M | $142.7M | $135.8M | $129.9M | $127.9M | $127.2M |
| Gross profit (NOI for real estate) | $312.4M | $338.4M | $356.4M | $374.4M | $288.4M | $254.4M | $252.8M | $258.6M | $267.1M |
| % margin | 71.0% | 72.0% | 72.0% | 72.0% | 66.9% | 65.2% | 66.0% | 66.9% | 67.8% |
| Operating expenses (cash, adjusted) | $8.8M | $9.4M | $9.9M | $10.4M | $8.6M | $7.8M | $7.7M | $7.7M | $7.9M |
| EBITDA (company-adjusted basis) | $303.6M | $329.0M | $346.5M | $364.0M | $279.8M | $246.6M | $245.1M | $250.9M | $259.2M |
| % margin | 69.0% | 70.0% | 70.0% | 70.0% | 64.9% | 63.2% | 64.0% | 64.9% | 65.8% |
| D&A | $132.0M | $141.0M | $148.5M | $156.0M | $129.3M | $117.0M | $114.8M | $116.0M | $118.3M |
| 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 | $150.4M | $129.5M | $130.3M | $134.9M | $141.0M |
| Interest expense | $75.8M | $80.2M | $84.7M | $89.2M | $105.6M | $90.7M | $89.7M | $89.7M | $89.7M |
| EBT | $95.8M | $107.8M | $113.3M | $118.8M | $44.8M | $38.8M | $40.6M | $45.2M | $51.3M |
| Taxes | $24.0M | $26.9M | $28.3M | $29.7M | $11.2M | $9.7M | $10.2M | $11.3M | $12.8M |
| Net income (model basis) | $71.9M | $80.8M | $85.0M | $89.1M | $33.6M | $29.1M | $30.5M | $33.9M | $38.4M |
| Capex | $44.0M | $47.0M | $49.5M | $52.0M | $34.5M | $31.2M | $30.6M | $30.9M | $31.5M |
| Working capital & other cash items | $0.5M | $0.9M | $0.8M | $0.8M | ($0.1M) | $1.1M | $2.1M | $2.4M | $2.6M |
| Free cash flow | $159.4M | $173.9M | $183.2M | $192.4M | $128.5M | $113.8M | $112.6M | $116.5M | $122.6M |
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 |