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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $13.2M, roughly 31.8× Ares Commercial Real Estate Corp). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs -29.2%, a 86.2% gap on every dollar of revenue. On growth, Gaming & Leisure Properties, Inc. posted the faster year-over-year revenue change (6.3% vs -24.5%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% CAGR vs -15.9%).
Ares Commercial Real Estate Corp is a specialty finance company focused on the commercial real estate sector. It offers a full suite of customized financing solutions including senior mortgage loans, subordinated debt and preferred equity, primarily serving middle-market commercial property owners and operators across the United States.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
ACRE vs GLPI — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $420.0M |
| Net Profit | $-3.9M | $239.4M |
| Gross Margin | — | — |
| Operating Margin | -29.2% | 79.4% |
| Net Margin | -29.2% | 57.0% |
| Revenue YoY | -24.5% | 6.3% |
| Net Profit YoY | 63.8% | 40.5% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $420.0M | ||
| Q4 25 | $13.2M | $407.0M | ||
| Q3 25 | $14.1M | $397.6M | ||
| Q2 25 | $12.6M | $394.9M | ||
| Q1 25 | $14.9M | $395.2M | ||
| Q4 24 | $17.5M | $389.6M | ||
| Q3 24 | $16.7M | $385.3M | ||
| Q2 24 | $16.8M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $-3.9M | $267.3M | ||
| Q3 25 | $4.7M | $241.2M | ||
| Q2 25 | $-11.0M | $151.4M | ||
| Q1 25 | $9.3M | $165.2M | ||
| Q4 24 | $-10.7M | $217.2M | ||
| Q3 24 | $-5.9M | $184.7M | ||
| Q2 24 | $-6.1M | $208.3M |
| Q1 26 | — | 79.4% | ||
| Q4 25 | -29.2% | 89.3% | ||
| Q3 25 | 33.0% | 84.8% | ||
| Q2 25 | -87.8% | 61.3% | ||
| Q1 25 | 64.4% | 65.5% | ||
| Q4 24 | -61.0% | 79.1% | ||
| Q3 24 | -35.3% | 70.4% | ||
| Q2 24 | -36.5% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | -29.2% | 65.7% | ||
| Q3 25 | 33.0% | 60.7% | ||
| Q2 25 | -87.8% | 38.4% | ||
| Q1 25 | 62.5% | 41.8% | ||
| Q4 24 | -60.9% | 55.8% | ||
| Q3 24 | -35.3% | 47.9% | ||
| Q2 24 | -36.5% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.96 | ||
| Q3 25 | — | $0.85 | ||
| Q2 25 | — | $0.54 | ||
| Q1 25 | — | $0.60 | ||
| Q4 24 | — | $0.79 | ||
| Q3 24 | — | $0.67 | ||
| Q2 24 | — | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.3M | $274.5M |
| Total DebtLower is stronger | $948.2M | — |
| Stockholders' EquityBook value | $509.6M | $5.0B |
| Total Assets | $1.6B | $13.8B |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $29.3M | — | ||
| Q3 25 | $84.9M | — | ||
| Q2 25 | $90.0M | — | ||
| Q1 25 | $125.5M | — | ||
| Q4 24 | $63.8M | $560.8M | ||
| Q3 24 | $68.9M | $554.1M | ||
| Q2 24 | $70.6M | $347.8M |
| Q1 26 | — | — | ||
| Q4 25 | $948.2M | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | $718.5M | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $509.6M | $4.6B | ||
| Q3 25 | $521.0M | $4.6B | ||
| Q2 25 | $523.7M | $4.6B | ||
| Q1 25 | $542.1M | $4.2B | ||
| Q4 24 | $540.1M | $4.3B | ||
| Q3 24 | $563.8M | $4.3B | ||
| Q2 24 | $582.3M | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $1.6B | $12.9B | ||
| Q3 25 | $1.4B | $12.8B | ||
| Q2 25 | $1.4B | $12.5B | ||
| Q1 25 | $1.5B | $12.1B | ||
| Q4 24 | $1.8B | $13.1B | ||
| Q3 24 | $1.9B | $12.7B | ||
| Q2 24 | $2.1B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | 1.56× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | 1.33× | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $4.6M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.6M | $343.2M | ||
| Q3 25 | $3.8M | $240.3M | ||
| Q2 25 | $4.9M | $293.4M | ||
| Q1 25 | $8.0M | $252.5M | ||
| Q4 24 | $7.1M | $292.4M | ||
| Q3 24 | $8.4M | $270.4M | ||
| Q2 24 | $8.7M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $183.0M | ||
| Q2 25 | — | $272.3M | ||
| Q1 25 | — | $239.6M | ||
| Q4 24 | — | $276.6M | ||
| Q3 24 | — | $261.5M | ||
| Q2 24 | — | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 69.0% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 71.0% | ||
| Q3 24 | — | 67.9% | ||
| Q2 24 | — | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 14.4% | ||
| Q2 25 | — | 5.3% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.28× | ||
| Q3 25 | 0.82× | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | 0.86× | 1.53× | ||
| Q4 24 | — | 1.35× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
