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Side-by-side financial comparison of APARTMENT INVESTMENT & MANAGEMENT CO (AIV) and VSEE HEALTH, INC. (VSEE). Click either name above to swap in a different company.

VSEE HEALTH, INC. is the larger business by last-quarter revenue ($3.9M vs $2.1M, roughly 1.9× APARTMENT INVESTMENT & MANAGEMENT CO). APARTMENT INVESTMENT & MANAGEMENT CO runs the higher net margin — 14155.2% vs -200.0%, a 14355.2% gap on every dollar of revenue. On growth, APARTMENT INVESTMENT & MANAGEMENT CO posted the faster year-over-year revenue change (16.7% vs 5.1%). VSEE HEALTH, INC. produced more free cash flow last quarter ($-1.9M vs $-91.5M). Over the past eight quarters, VSEE HEALTH, INC.'s revenue compounded faster (55.6% CAGR vs -79.5%).

Beach Point Capital Management is an American hedge fund management firm headquartered in Santa Monica, California.The firm focuses on credit related investments.

VSEE HEALTH, INC. is a US-based telehealth technology firm offering HIPAA-compliant virtual care platforms, remote consultation tools, and chronic disease management solutions. It primarily serves healthcare providers, enterprise clients and nonprofits across North America and select global markets.

AIV vs VSEE — Head-to-Head

Bigger by revenue
VSEE
VSEE
1.9× larger
VSEE
$3.9M
$2.1M
AIV
Growing faster (revenue YoY)
AIV
AIV
+11.5% gap
AIV
16.7%
5.1%
VSEE
Higher net margin
AIV
AIV
14355.2% more per $
AIV
14155.2%
-200.0%
VSEE
More free cash flow
VSEE
VSEE
$89.6M more FCF
VSEE
$-1.9M
$-91.5M
AIV
Faster 2-yr revenue CAGR
VSEE
VSEE
Annualised
VSEE
55.6%
-79.5%
AIV

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AIV
AIV
VSEE
VSEE
Revenue
$2.1M
$3.9M
Net Profit
$297.3M
$-7.9M
Gross Margin
46.7%
Operating Margin
-87.6%
Net Margin
14155.2%
-200.0%
Revenue YoY
16.7%
5.1%
Net Profit YoY
2721.3%
-144.7%
EPS (diluted)
$2.07
$-0.31

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
AIV
AIV
VSEE
VSEE
Q4 25
$2.1M
$3.9M
Q3 25
$35.1M
$4.0M
Q2 25
$52.8M
$3.4M
Q1 25
$52.4M
$3.3M
Q4 24
$1.8M
$3.7M
Q3 24
$35.3M
$3.4M
Q2 24
$51.1M
$1.7M
Q1 24
$50.2M
$1.6M
Net Profit
AIV
AIV
VSEE
VSEE
Q4 25
$297.3M
$-7.9M
Q3 25
$283.1M
$-289.7K
Q2 25
$-19.3M
$-2.6M
Q1 25
$-13.9M
$-4.0M
Q4 24
$-3.2M
Q3 24
$-21.9M
$-53.9M
Q2 24
$-60.5M
$-634.1K
Q1 24
$-10.2M
$62.8K
Gross Margin
AIV
AIV
VSEE
VSEE
Q4 25
46.7%
Q3 25
52.1%
Q2 25
46.9%
Q1 25
56.0%
Q4 24
63.8%
Q3 24
83.0%
Q2 24
45.4%
Q1 24
76.2%
Operating Margin
AIV
AIV
VSEE
VSEE
Q4 25
-87.6%
Q3 25
51.9%
-51.7%
Q2 25
56.0%
-66.5%
Q1 25
55.9%
-55.1%
Q4 24
-81.1%
Q3 24
50.0%
-1737.8%
Q2 24
55.9%
-54.5%
Q1 24
57.8%
6.4%
Net Margin
AIV
AIV
VSEE
VSEE
Q4 25
14155.2%
-200.0%
Q3 25
805.9%
-7.3%
Q2 25
-36.6%
-77.1%
Q1 25
-26.6%
-119.2%
Q4 24
-85.9%
Q3 24
-62.1%
-1607.5%
Q2 24
-118.3%
-37.0%
Q1 24
-20.3%
3.9%
EPS (diluted)
AIV
AIV
VSEE
VSEE
Q4 25
$2.07
$-0.31
Q3 25
$2.04
$-0.02
Q2 25
$-0.14
$-0.16
Q1 25
$-0.10
$-0.24
Q4 24
$-1.96
Q3 24
$-0.16
$-3.58
Q2 24
$-0.43
$-0.12
Q1 24
$-0.07
$0.01

Balance Sheet & Financial Strength

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

Metric
AIV
AIV
VSEE
VSEE
Cash + ST InvestmentsLiquidity on hand
$394.9M
$5.3M
Total DebtLower is stronger
$738.6M
$2.7M
Stockholders' EquityBook value
$361.9M
$5.5M
Total Assets
$1.7B
$22.4M
Debt / EquityLower = less leverage
2.04×
0.50×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AIV
AIV
VSEE
VSEE
Q4 25
$394.9M
$5.3M
Q3 25
$404.4M
$472.8K
Q2 25
$41.4M
$291.6K
Q1 25
$49.1M
$410.1K
Q4 24
$141.1M
$326.1K
Q3 24
$82.6M
$2.3M
Q2 24
$88.5M
$1.1M
Q1 24
$121.8M
$724
Total Debt
AIV
AIV
VSEE
VSEE
Q4 25
$738.6M
$2.7M
Q3 25
$828.5M
$3.4M
Q2 25
$1.1B
$3.0M
Q1 25
$1.1B
$2.6M
Q4 24
$829.7M
$1.9M
Q3 24
$1.3B
$1.9M
Q2 24
$1.2B
$2.4M
Q1 24
$1.2B
Stockholders' Equity
AIV
AIV
VSEE
VSEE
Q4 25
$361.9M
$5.5M
Q3 25
$62.0M
$-5.6M
Q2 25
$91.7M
$-5.7M
Q1 25
$110.5M
$-3.5M
Q4 24
$123.0M
$-18.5K
Q3 24
$229.8M
$933.1K
Q2 24
$253.5M
$53.1M
Q1 24
$335.8M
$-13.2M
Total Assets
AIV
AIV
VSEE
VSEE
Q4 25
$1.7B
$22.4M
Q3 25
$2.1B
$18.7M
Q2 25
$1.9B
$18.2M
Q1 25
$1.9B
$19.4M
Q4 24
$2.0B
$20.0M
Q3 24
$2.1B
$22.3M
Q2 24
$2.1B
$78.6M
Q1 24
$2.1B
$1.4M
Debt / Equity
AIV
AIV
VSEE
VSEE
Q4 25
2.04×
0.50×
Q3 25
13.37×
Q2 25
11.99×
Q1 25
9.80×
Q4 24
6.75×
Q3 24
5.44×
2.08×
Q2 24
4.78×
0.05×
Q1 24
3.52×

Cash Flow & Capital Efficiency

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

Metric
AIV
AIV
VSEE
VSEE
Operating Cash FlowLast quarter
$8.1M
$-1.9M
Free Cash FlowOCF − Capex
$-91.5M
$-1.9M
FCF MarginFCF / Revenue
-4358.6%
-49.2%
Capex IntensityCapex / Revenue
4744.0%
0.2%
Cash ConversionOCF / Net Profit
0.03×
TTM Free Cash FlowTrailing 4 quarters
$-143.0M
$-3.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AIV
AIV
VSEE
VSEE
Q4 25
$8.1M
$-1.9M
Q3 25
$8.9M
$-754.5K
Q2 25
$9.7M
$-324.6K
Q1 25
$3.8M
$-440.5K
Q4 24
$47.0M
$-3.0M
Q3 24
$16.4M
$-221.0K
Q2 24
$8.0M
$-3.2M
Q1 24
$21.7M
$579.3K
Free Cash Flow
AIV
AIV
VSEE
VSEE
Q4 25
$-91.5M
$-1.9M
Q3 25
$-19.3M
$-761.8K
Q2 25
$-16.8M
$-328.2K
Q1 25
$-15.4M
$-452.4K
Q4 24
$-113.0M
$-3.0M
Q3 24
$-19.6M
$-226.0K
Q2 24
$-28.9M
$-3.2M
Q1 24
$-19.2M
$570.5K
FCF Margin
AIV
AIV
VSEE
VSEE
Q4 25
-4358.6%
-49.2%
Q3 25
-55.0%
-19.1%
Q2 25
-31.8%
-9.7%
Q1 25
-29.3%
-13.6%
Q4 24
-6280.2%
-79.8%
Q3 24
-55.4%
-6.7%
Q2 24
-56.5%
-187.6%
Q1 24
-38.3%
35.2%
Capex Intensity
AIV
AIV
VSEE
VSEE
Q4 25
4744.0%
0.2%
Q3 25
80.4%
0.2%
Q2 25
50.1%
0.1%
Q1 25
36.7%
0.4%
Q4 24
8890.4%
0.1%
Q3 24
101.9%
0.1%
Q2 24
72.2%
2.1%
Q1 24
81.5%
0.5%
Cash Conversion
AIV
AIV
VSEE
VSEE
Q4 25
0.03×
Q3 25
0.03×
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
9.23×

Financial Flow Comparison

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

Revenue Breakdown by Segment

AIV
AIV

Other Real Estate$2.0M97%
Other$66.0K3%

VSEE
VSEE

Professional Services And Other Fees$3.1M79%
Other$823.2K21%

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