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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and MODIV INDUSTRIAL, INC. (MDV). Click either name above to swap in a different company.
Ares Commercial Real Estate Corp is the larger business by last-quarter revenue ($13.2M vs $11.1M, roughly 1.2× MODIV INDUSTRIAL, INC.). MODIV INDUSTRIAL, INC. runs the higher net margin — 11.0% vs -29.2%, a 40.2% gap on every dollar of revenue. On growth, MODIV INDUSTRIAL, INC. posted the faster year-over-year revenue change (-5.6% vs -24.5%). Over the past eight quarters, MODIV INDUSTRIAL, INC.'s revenue compounded faster (-3.8% 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.
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
ACRE vs MDV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $11.1M |
| Net Profit | $-3.9M | $1.2M |
| Gross Margin | — | — |
| Operating Margin | -29.2% | 45.8% |
| Net Margin | -29.2% | 11.0% |
| Revenue YoY | -24.5% | -5.6% |
| Net Profit YoY | 63.8% | -22.0% |
| EPS (diluted) | — | $0.02 |
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.
| Q4 25 | $13.2M | $11.1M | ||
| Q3 25 | $14.1M | $11.7M | ||
| Q2 25 | $12.6M | $11.8M | ||
| Q1 25 | $14.9M | $11.8M | ||
| Q4 24 | $17.5M | $11.7M | ||
| Q3 24 | $16.7M | $11.7M | ||
| Q2 24 | $16.8M | $11.4M | ||
| Q1 24 | $18.7M | $12.0M |
| Q4 25 | $-3.9M | $1.2M | ||
| Q3 25 | $4.7M | $1.0M | ||
| Q2 25 | $-11.0M | $-2.0M | ||
| Q1 25 | $9.3M | $829.0K | ||
| Q4 24 | $-10.7M | $1.6M | ||
| Q3 24 | $-5.9M | $-587.0K | ||
| Q2 24 | $-6.1M | $1.3M | ||
| Q1 24 | $-12.3M | $3.7M |
| Q4 25 | -29.2% | 45.8% | ||
| Q3 25 | 33.0% | 41.4% | ||
| Q2 25 | -87.8% | 9.8% | ||
| Q1 25 | 64.4% | 40.2% | ||
| Q4 24 | -61.0% | 45.4% | ||
| Q3 24 | -35.3% | 42.0% | ||
| Q2 24 | -36.5% | 44.6% | ||
| Q1 24 | -65.9% | 55.6% |
| Q4 25 | -29.2% | 11.0% | ||
| Q3 25 | 33.0% | 9.0% | ||
| Q2 25 | -87.8% | -17.1% | ||
| Q1 25 | 62.5% | 7.0% | ||
| Q4 24 | -60.9% | 13.3% | ||
| Q3 24 | -35.3% | -5.0% | ||
| Q2 24 | -36.5% | 11.6% | ||
| Q1 24 | -65.9% | 31.1% |
| Q4 25 | — | $0.02 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.32 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | — | $-0.18 | ||
| Q2 24 | — | $0.03 | ||
| Q1 24 | — | $0.33 |
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 | $14.4M |
| Total DebtLower is stronger | $948.2M | $261.5M |
| Stockholders' EquityBook value | $509.6M | $162.7M |
| Total Assets | $1.6B | $476.5M |
| Debt / EquityLower = less leverage | 1.86× | 1.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $14.4M | ||
| Q3 25 | $84.9M | $8.3M | ||
| Q2 25 | $90.0M | $5.8M | ||
| Q1 25 | $125.5M | $6.2M | ||
| Q4 24 | $63.8M | $11.5M | ||
| Q3 24 | $68.9M | $6.8M | ||
| Q2 24 | $70.6M | $18.9M | ||
| Q1 24 | $99.5M | $18.4M |
| Q4 25 | $948.2M | $261.5M | ||
| Q3 25 | — | $279.7M | ||
| Q2 25 | — | $279.7M | ||
| Q1 25 | — | $279.7M | ||
| Q4 24 | $718.5M | $279.8M | ||
| Q3 24 | — | $279.7M | ||
| Q2 24 | — | $279.7M | ||
| Q1 24 | — | $279.6M |
| Q4 25 | $509.6M | $162.7M | ||
| Q3 25 | $521.0M | $164.8M | ||
| Q2 25 | $523.7M | $165.6M | ||
| Q1 25 | $542.1M | $171.1M | ||
| Q4 24 | $540.1M | $190.1M | ||
| Q3 24 | $563.8M | $186.3M | ||
| Q2 24 | $582.3M | $187.0M | ||
| Q1 24 | $601.1M | $188.0M |
| Q4 25 | $1.6B | $476.5M | ||
| Q3 25 | $1.4B | $499.6M | ||
| Q2 25 | $1.4B | $498.9M | ||
| Q1 25 | $1.5B | $506.8M | ||
| Q4 24 | $1.8B | $507.8M | ||
| Q3 24 | $1.9B | $507.4M | ||
| Q2 24 | $2.1B | $519.5M | ||
| Q1 24 | $2.1B | $522.5M |
| Q4 25 | 1.86× | 1.61× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | 1.33× | 1.47× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | — | 1.49× |
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 | $21.4M | $15.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 12.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.4M | $15.0M | ||
| Q3 25 | $3.8M | $4.1M | ||
| Q2 25 | $4.9M | $3.9M | ||
| Q1 25 | $8.0M | $3.0M | ||
| Q4 24 | $35.5M | $18.2M | ||
| Q3 24 | $8.4M | $5.1M | ||
| Q2 24 | $8.7M | $4.7M | ||
| Q1 24 | $11.4M | $3.0M |
| Q4 25 | — | 12.34× | ||
| Q3 25 | 0.82× | 3.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | 3.68× | ||
| Q4 24 | — | 11.72× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.55× | ||
| Q1 24 | — | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
