LXP

MKT CAP:$3B

LXP Industrial Trust

Market Cap

$3B

Real Estate·REIT - Industrial·🇺🇸 United States·NYSE

Real Estate·REIT - Industrial·🇺🇸·NYSE

Stock Price

$49.72+$0.14 (+0.28%)

Apr 23, 2026

Company Details

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the ...

CEO

T. Wilson Eglin

IPO Date

Oct 22, 1993

Website

www.lxp.com

Key Metrics TTM

Revenue

$339M

-1.5% YoY

Net Income

$72M

EPS (Diluted)

$1.18

Free Cash Flow

$207M

Revenue / Share

$5.79

Gross Margin

-3.5%

Operating Margin

29.8%

Net Margin

21.2%

FCF Margin

61.0%

P/S

8.8x

P/E

41.7x

Earnings Reports

Q4 2025

Apr 29, 2026

PENDING

Q3 2025

Oct 30, 2025

$87MEPS $0.60

Q1 2024

May 2, 2024

$86MEPS -$0.03

Q3 2023

Oct 31, 2023

$85M+6.7%EPS $0.19

Q3 2022

Nov 3, 2022

$80MEPS $0.42

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 18	$87M	$39M	$31M
Q1 19	$81M	$33M	$25M
Q2 19	$80M	$34M	$26M
Q3 19	$82M	$34M	$26M
Q4 19	$83M	$36M	$29M
Q1 20	$81M	$30M	$22M
Q2 20	$82M	$32M	$24M
Q3 20	$85M	$73M	$66M
Q4 20	$83M	$33M	$25M
Q1 21	$93M	$39M	$31M
Q2 21	$82M	$27M	$19M
Q4 21	$86M	$73M	$62M
Q3 22	$80M	$66M	$57M
Q3 23	$85M	$25M	$17M
Q1 24	$86M	$24M	$14M
Q3 25	$87M	-$127M	$13M

Valuation

Quarter	P/S	P/E
Q4 18	4.8x	8.4x
Q1 19	5.7x	8.0x
Q2 19	6.3x	7.5x
Q3 19	7.7x	11.6x
Q4 19	8.0x	9.4x
Q1 20	7.7x	9.3x
Q2 20	8.4x	10.3x
Q3 20	8.9x	18.0x
Q4 20	9.1x	16.4x
Q1 21	9.1x	15.1x
Q2 21	9.8x	12.9x
Q4 21	12.8x	9.1x
Q3 22	7.5x	6.4x
Q3 23	7.6x	6.9x
Q1 24	7.7x	8.7x
Q3 25	7.8x	36.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 18	$48M	$44M
Q1 19	$48M	$43M
Q2 19	$41M	$37M
Q3 19	$54M	$51M
Q4 19	$49M	$44M
Q1 20	$47M	$45M
Q2 20	$51M	$44M
Q3 20	$62M	$56M
Q4 20	$49M	$47M
Q1 21	$57M	$56M
Q2 21	$52M	$50M
Q4 21	$55M	$49M
Q3 22	$63M	$53M
Q3 23	$61M	$57M
Q1 24	$39M	$36M
Q3 25	$67M	$61M

Capital Expenditures

Quarter	CapEx
Q4 18	$4M
Q1 19	$4M
Q2 19	$4M
Q3 19	$3M
Q4 19	$6M
Q1 20	$2M
Q2 20	$7M
Q3 20	$6M
Q4 20	$2M
Q1 21	$1M
Q2 21	$2M
Q4 21	$6M
Q3 22	$10M
Q3 23	$4M
Q1 24	$3M
Q3 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 18	-14.6%	-15.7%
Q1 19	-20.8%	-15.4%
Q2 19	-24.0%	-15.4%
Q3 19	-18.4%	-0.5%
Q4 19	-4.8%	-3.1%
Q1 20	-0.5%	+3.4%
Q2 20	+2.1%	+6.9%
Q3 20	+3.6%	-66.6%
Q4 20	+0.3%	+8.0%
Q1 21	+14.5%	+5.0%
Q2 21	-0.3%	+8.6%
Q4 21	+2.3%	+32.1%
Q3 22	-3.9%	-60.6%
Q3 23	-7.7%	+11.9%
Q1 24	+5.8%	+15.3%
Q3 25	+0.5%	+200.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 18	$7M	7.9%
Q1 19	$0	0.0%
Q2 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$6M	7.0%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$6M	7.4%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q3 22	$0	0.0%
Q3 23	$0	0.0%
Q1 24	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q4 18	$8M	—
Q1 19	$9M	—
Q2 19	$7M	—
Q3 19	$8M	—
Q4 19	$7M	—
Q1 20	$8M	—
Q2 20	$8M	—
Q3 20	$7M	—
Q4 20	$8M	—
Q1 21	$8M	—
Q2 21	$8M	—
Q4 21	$10M	$389.0K
Q3 22	$9M	—
Q3 23	$9M	—
Q1 24	$9M	—
Q3 25	$9M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$49M	$0	$49M
Q2 22	$50M	$0	$50M
Q3 22	$29M	$0	$29M
Q4 22	$54M	$0	$54M
Q1 23	$43M	$0	$43M
Q2 23	$23M	$0	$23M
Q3 23	$35M	$0	$35M
Q4 23	$199M	$130M	$329M
Q1 24	$163M	$131M	$294M
Q2 24	$49M	$0	$49M
Q3 24	$55M	$0	$55M
Q4 24	$102M	$0	$102M
Q1 25	$71M	$0	$71M
Q2 25	$71M	$0	$71M
Q3 25	$230M	$0	$230M
Q4 25	$170M	$0	$170M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 18	48M	-3.2%	+0.1%
Q1 19	47M	-0.9%	-0.8%
Q2 19	47M	+0.1%	-0.4%
Q3 19	48M	+2.1%	-1.9%
Q4 19	51M	+4.8%	+6.1%
Q1 20	51M	+1.7%	+9.0%
Q2 20	54M	+4.6%	+13.9%
Q3 20	55M	+2.6%	+14.4%
Q4 20	57M	+2.9%	+12.3%
Q1 21	56M	-1.8%	+8.4%
Q2 21	55M	-0.6%	+3.1%
Q4 21	59M	+5.5%	+6.1%
Q3 22	56M	-4.9%	-2.0%
Q3 23	58M	+4.6%	+4.4%
Q1 24	58M	+0.0%	+5.0%
Q3 25	59M	+0.5%	-0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 18	$1M	60
Q1 19	$1M	60
Q2 19	$1M	60
Q3 19	$1M	60
Q4 19	$1M	57
Q1 20	$1M	57
Q2 20	$1M	57
Q3 20	$1M	57
Q4 20	$2M	55
Q1 21	$2M	55
Q2 21	$1M	55
Q4 21	$1M	62
Q3 22	$1M	62
Q3 23	$1M	66
Q1 24	$1M	64
Q3 25	$1M	59

Revenue / Employee