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Side-by-side financial comparison of C3.ai, Inc. (AI) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $75.1M, roughly 1.5× C3.ai, Inc.). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -139.3%, a 137.7% gap on every dollar of revenue. On growth, Industrial Logistics Properties Trust posted the faster year-over-year revenue change (3.1% vs -20.3%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-46.9M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
AI vs ILPT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $113.9M |
| Net Profit | $-104.7M | $-1.8M |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | -22.1% |
| Net Margin | -139.3% | -1.6% |
| Revenue YoY | -20.3% | 3.1% |
| Net Profit YoY | -58.7% | 92.6% |
| EPS (diluted) | $-0.75 | $-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 | $75.1M | $113.9M | ||
| Q3 25 | $70.3M | $110.9M | ||
| Q2 25 | $108.7M | $112.1M | ||
| Q1 25 | $98.8M | $111.9M | ||
| Q4 24 | $94.3M | $110.5M | ||
| Q3 24 | $87.2M | $108.9M | ||
| Q2 24 | $86.6M | $110.6M | ||
| Q1 24 | $78.4M | $112.2M |
| Q4 25 | $-104.7M | $-1.8M | ||
| Q3 25 | $-116.8M | $-21.6M | ||
| Q2 25 | $-79.7M | $-21.3M | ||
| Q1 25 | $-80.2M | $-21.5M | ||
| Q4 24 | $-66.0M | $-24.1M | ||
| Q3 24 | $-62.8M | $-25.0M | ||
| Q2 24 | $-72.9M | $-23.2M | ||
| Q1 24 | $-72.6M | $-23.4M |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | -22.1% | ||
| Q3 25 | -177.7% | -29.4% | ||
| Q2 25 | -81.8% | -30.8% | ||
| Q1 25 | -88.7% | -26.9% | ||
| Q4 24 | -79.8% | -31.1% | ||
| Q3 24 | -83.2% | -33.5% | ||
| Q2 24 | -95.1% | -32.4% | ||
| Q1 24 | -105.3% | -31.7% |
| Q4 25 | -139.3% | -1.6% | ||
| Q3 25 | -166.2% | -19.4% | ||
| Q2 25 | -73.3% | -19.0% | ||
| Q1 25 | -81.2% | -19.2% | ||
| Q4 24 | -69.9% | -21.8% | ||
| Q3 24 | -72.0% | -22.9% | ||
| Q2 24 | -84.2% | -20.9% | ||
| Q1 24 | -92.6% | -20.9% |
| Q4 25 | $-0.75 | $-0.02 | ||
| Q3 25 | $-0.86 | $-0.33 | ||
| Q2 25 | $-0.60 | $-0.32 | ||
| Q1 25 | $-0.62 | $-0.33 | ||
| Q4 24 | $-0.52 | $-0.37 | ||
| Q3 24 | $-0.50 | $-0.38 | ||
| Q2 24 | $-0.59 | $-0.35 | ||
| Q1 24 | $-0.60 | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $771.9M | $489.7M |
| Total Assets | $961.3M | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $94.8M | ||
| Q3 25 | $711.9M | $83.2M | ||
| Q2 25 | $742.7M | $58.6M | ||
| Q1 25 | $724.3M | $108.0M | ||
| Q4 24 | $730.4M | $131.7M | ||
| Q3 24 | $762.5M | $153.9M | ||
| Q2 24 | $750.4M | $146.2M | ||
| Q1 24 | $723.3M | $128.4M |
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $771.9M | $489.7M | ||
| Q3 25 | $798.8M | $494.1M | ||
| Q2 25 | $838.3M | $519.1M | ||
| Q1 25 | $860.2M | $539.5M | ||
| Q4 24 | $859.0M | $562.0M | ||
| Q3 24 | $874.9M | $585.9M | ||
| Q2 24 | $873.4M | $618.3M | ||
| Q1 24 | $898.0M | $643.2M |
| Q4 25 | $961.3M | $5.2B | ||
| Q3 25 | $968.7M | $5.2B | ||
| Q2 25 | $1.0B | $5.2B | ||
| Q1 25 | $1.1B | $5.4B | ||
| Q4 24 | $1.0B | $5.4B | ||
| Q3 24 | $1.1B | $5.5B | ||
| Q2 24 | $1.0B | $5.5B | ||
| Q1 24 | $1.1B | $5.5B |
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $-46.5M | $60.7M |
| Free Cash FlowOCF − Capex | $-46.9M | $42.0M |
| FCF MarginFCF / Revenue | -62.4% | 36.9% |
| Capex IntensityCapex / Revenue | 0.5% | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $60.7M | ||
| Q3 25 | $-33.5M | $22.7M | ||
| Q2 25 | $11.3M | $18.4M | ||
| Q1 25 | $-22.0M | $11.4M | ||
| Q4 24 | $-38.7M | $2.0M | ||
| Q3 24 | $8.0M | $-3.4M | ||
| Q2 24 | $21.3M | $10.8M | ||
| Q1 24 | $-39.1M | $8.0M |
| Q4 25 | $-46.9M | $42.0M | ||
| Q3 25 | $-34.3M | $17.6M | ||
| Q2 25 | $10.3M | $15.2M | ||
| Q1 25 | $-22.4M | $5.0M | ||
| Q4 24 | $-39.5M | $-3.7M | ||
| Q3 24 | $7.1M | $-5.9M | ||
| Q2 24 | $18.8M | $9.4M | ||
| Q1 24 | $-45.1M | $5.9M |
| Q4 25 | -62.4% | 36.9% | ||
| Q3 25 | -48.8% | 15.9% | ||
| Q2 25 | 9.5% | 13.5% | ||
| Q1 25 | -22.7% | 4.5% | ||
| Q4 24 | -41.9% | -3.4% | ||
| Q3 24 | 8.2% | -5.5% | ||
| Q2 24 | 21.7% | 8.5% | ||
| Q1 24 | -57.6% | 5.2% |
| Q4 25 | 0.5% | 16.4% | ||
| Q3 25 | 1.1% | 4.6% | ||
| Q2 25 | 0.9% | 2.9% | ||
| Q1 25 | 0.4% | 5.7% | ||
| Q4 24 | 0.9% | 5.2% | ||
| Q3 24 | 1.1% | 2.3% | ||
| Q2 24 | 2.9% | 1.3% | ||
| Q1 24 | 7.8% | 1.9% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
ILPT
Segment breakdown not available.
