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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) and Day One Biopharmaceuticals, Inc. (DAWN). Click either name above to swap in a different company.

Armada Hoffler Properties, Inc. is the larger business by last-quarter revenue ($75.6M vs $39.8M, roughly 1.9× Day One Biopharmaceuticals, Inc.). Armada Hoffler Properties, Inc. runs the higher net margin — 3.1% vs -49.6%, a 52.7% gap on every dollar of revenue. On growth, Armada Hoffler Properties, Inc. posted the faster year-over-year revenue change (0.8% vs -57.6%).

Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.

Day One Biopharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing targeted precision oncology therapies for pediatric and young adult patients with genetically driven cancers. It advances novel drug candidates to address unmet medical needs in underserved patient segments, operating primarily in the U.S. and partnering with global oncology research institutions.

AHH vs DAWN — Head-to-Head

Bigger by revenue
AHH
AHH
1.9× larger
AHH
$75.6M
$39.8M
DAWN
Growing faster (revenue YoY)
AHH
AHH
+58.3% gap
AHH
0.8%
-57.6%
DAWN
Higher net margin
AHH
AHH
52.7% more per $
AHH
3.1%
-49.6%
DAWN

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
AHH
AHH
DAWN
DAWN
Revenue
$75.6M
$39.8M
Net Profit
$2.4M
$-19.7M
Gross Margin
Operating Margin
31.0%
-60.9%
Net Margin
3.1%
-49.6%
Revenue YoY
0.8%
-57.6%
Net Profit YoY
-89.8%
-153.3%
EPS (diluted)
$0.00
$-0.19

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.

Revenue
AHH
AHH
DAWN
DAWN
Q4 25
$75.6M
Q3 25
$72.7M
$39.8M
Q2 25
$69.1M
$33.9M
Q1 25
$67.8M
$30.8M
Q4 24
$75.0M
Q3 24
$114.4M
$93.8M
Q2 24
$116.8M
Q1 24
$127.0M
$0
Net Profit
AHH
AHH
DAWN
DAWN
Q4 25
$2.4M
Q3 25
$80.0K
$-19.7M
Q2 25
$5.9M
$-30.3M
Q1 25
$-2.8M
$-36.0M
Q4 24
$23.4M
Q3 24
$-5.0M
$37.0M
Q2 24
$3.2M
Q1 24
$14.1M
$-62.4M
Gross Margin
AHH
AHH
DAWN
DAWN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
45.0%
Q2 24
41.8%
Q1 24
37.9%
Operating Margin
AHH
AHH
DAWN
DAWN
Q4 25
31.0%
Q3 25
29.2%
-60.9%
Q2 25
29.6%
-103.1%
Q1 25
23.2%
-133.5%
Q4 24
50.1%
Q3 24
19.0%
31.6%
Q2 24
11.9%
Q1 24
15.1%
Net Margin
AHH
AHH
DAWN
DAWN
Q4 25
3.1%
Q3 25
0.1%
-49.6%
Q2 25
8.6%
-89.4%
Q1 25
-4.1%
-117.0%
Q4 24
31.2%
Q3 24
-4.4%
39.5%
Q2 24
2.7%
Q1 24
11.1%
EPS (diluted)
AHH
AHH
DAWN
DAWN
Q4 25
$0.00
Q3 25
$-0.04
$-0.19
Q2 25
$0.04
$-0.29
Q1 25
$-0.07
$-0.35
Q4 24
$0.28
Q3 24
$-0.11
$0.38
Q2 24
$0.00
Q1 24
$0.17
$-0.72

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AHH
AHH
DAWN
DAWN
Cash + ST InvestmentsLiquidity on hand
$49.1M
$451.6M
Total DebtLower is stronger
$1.5B
Stockholders' EquityBook value
$627.8M
$450.9M
Total Assets
$2.6B
$513.8M
Debt / EquityLower = less leverage
2.43×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AHH
AHH
DAWN
DAWN
Q4 25
$49.1M
Q3 25
$46.5M
$451.6M
Q2 25
$52.1M
$453.1M
Q1 25
$45.7M
$473.0M
Q4 24
$31.9M
Q3 24
$43.9M
$558.4M
Q2 24
$20.3M
Q1 24
$41.9M
$317.9M
Total Debt
AHH
AHH
DAWN
DAWN
Q4 25
$1.5B
Q3 25
$1.5B
Q2 25
$1.4B
Q1 25
$1.3B
Q4 24
$1.3B
Q3 24
$1.3B
Q2 24
$1.4B
Q1 24
$1.4B
Stockholders' Equity
AHH
AHH
DAWN
DAWN
Q4 25
$627.8M
Q3 25
$638.8M
$450.9M
Q2 25
$652.0M
$460.8M
Q1 25
$657.4M
$479.5M
Q4 24
$670.6M
Q3 24
$663.9M
$555.5M
Q2 24
$562.7M
Q1 24
$571.4M
$296.8M
Total Assets
AHH
AHH
DAWN
DAWN
Q4 25
$2.6B
Q3 25
$2.6B
$513.8M
Q2 25
$2.6B
$519.0M
Q1 25
$2.5B
$534.4M
Q4 24
$2.5B
Q3 24
$2.6B
$600.8M
Q2 24
$2.6B
Q1 24
$2.6B
$326.6M
Debt / Equity
AHH
AHH
DAWN
DAWN
Q4 25
2.43×
Q3 25
2.33×
Q2 25
2.22×
Q1 25
2.01×
Q4 24
1.93×
Q3 24
2.00×
Q2 24
2.52×
Q1 24
2.50×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AHH
AHH
DAWN
DAWN
Operating Cash FlowLast quarter
$64.2M
$-5.8M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
26.99×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AHH
AHH
DAWN
DAWN
Q4 25
$64.2M
Q3 25
$26.3M
$-5.8M
Q2 25
$11.1M
$-24.8M
Q1 25
$107.0K
$-59.0M
Q4 24
$112.0M
Q3 24
$27.3M
$50.8M
Q2 24
$17.4M
Q1 24
$46.5M
$-49.7M
Free Cash Flow
AHH
AHH
DAWN
DAWN
Q4 25
Q3 25
Q2 25
$-24.8M
Q1 25
$-59.3M
Q4 24
Q3 24
$50.0M
Q2 24
Q1 24
FCF Margin
AHH
AHH
DAWN
DAWN
Q4 25
Q3 25
Q2 25
-73.2%
Q1 25
-192.8%
Q4 24
Q3 24
53.4%
Q2 24
Q1 24
Capex Intensity
AHH
AHH
DAWN
DAWN
Q4 25
Q3 25
0.0%
Q2 25
0.0%
Q1 25
1.0%
Q4 24
Q3 24
0.8%
Q2 24
Q1 24
Cash Conversion
AHH
AHH
DAWN
DAWN
Q4 25
26.99×
Q3 25
328.63×
Q2 25
1.87×
Q1 25
Q4 24
4.78×
Q3 24
1.37×
Q2 24
5.48×
Q1 24
3.30×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AHH
AHH

Office Real Estate Segment$28.8M38%
Retail Real Estate Segment$25.4M34%
Multifamily Residential Real Estate$17.7M23%
Real Estate Financing Segment$3.6M5%

DAWN
DAWN

Products$38.5M97%
License Agreement With Ipsen Pharma Sas$1.3M3%

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