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Side-by-side financial comparison of Andersons, Inc. (ANDE) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
Andersons, Inc. is the larger business by last-quarter revenue ($329.5M vs $187.0M, roughly 1.8× National Storage Affiliates Trust). Andersons, Inc. runs the higher net margin — 20.5% vs 12.2%, a 8.2% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -2.4%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-77.1M). Over the past eight quarters, Andersons, Inc.'s revenue compounded faster (-1.8% CAGR vs -2.4%).
The Andersons, Inc. is an American agribusiness established in 1947, that began as Andersons Truck Terminal (ATT) in the 1940s for the grain industry, headquartered in Maumee, Ohio. It is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
ANDE vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $329.5M | $187.0M |
| Net Profit | $67.4M | $22.9M |
| Gross Margin | 70.3% | 72.5% |
| Operating Margin | 26.6% | 20.2% |
| Net Margin | 20.5% | 12.2% |
| Revenue YoY | -2.4% | -1.6% |
| Net Profit YoY | 49.6% | 36.8% |
| EPS (diluted) | — | $0.23 |
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 | $329.5M | $187.0M | ||
| Q3 25 | $295.8M | $188.7M | ||
| Q2 25 | $535.0M | $188.8M | ||
| Q1 25 | $370.8M | $188.4M | ||
| Q4 24 | $337.5M | $190.1M | ||
| Q3 24 | $231.9M | $193.6M | ||
| Q2 24 | $492.5M | $190.4M | ||
| Q1 24 | $341.4M | $196.1M |
| Q4 25 | $67.4M | $22.9M | ||
| Q3 25 | $20.1M | $18.4M | ||
| Q2 25 | $7.9M | $19.5M | ||
| Q1 25 | $284.0K | $13.0M | ||
| Q4 24 | $45.1M | $16.7M | ||
| Q3 24 | $27.4M | $18.7M | ||
| Q2 24 | $36.0M | $17.1M | ||
| Q1 24 | $5.6M | $59.0M |
| Q4 25 | 70.3% | 72.5% | ||
| Q3 25 | 57.8% | 70.7% | ||
| Q2 25 | 29.6% | 70.5% | ||
| Q1 25 | 41.2% | 70.7% | ||
| Q4 24 | 63.1% | 72.5% | ||
| Q3 24 | 76.4% | 72.8% | ||
| Q2 24 | 35.6% | 72.6% | ||
| Q1 24 | 37.6% | 72.1% |
| Q4 25 | 26.6% | 20.2% | ||
| Q3 25 | 8.7% | 15.8% | ||
| Q2 25 | 4.6% | 16.5% | ||
| Q1 25 | 0.9% | 11.0% | ||
| Q4 24 | 19.9% | 14.5% | ||
| Q3 24 | 26.8% | 15.8% | ||
| Q2 24 | 11.6% | 17.2% | ||
| Q1 24 | 4.1% | 48.9% |
| Q4 25 | 20.5% | 12.2% | ||
| Q3 25 | 6.8% | 9.8% | ||
| Q2 25 | 1.5% | 10.3% | ||
| Q1 25 | 0.1% | 6.9% | ||
| Q4 24 | 13.4% | 8.8% | ||
| Q3 24 | 11.8% | 9.7% | ||
| Q2 24 | 7.3% | 9.0% | ||
| Q1 24 | 1.6% | 30.1% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | $0.59 | $0.17 | ||
| Q2 25 | $0.23 | $0.19 | ||
| Q1 25 | $0.01 | $0.10 | ||
| Q4 24 | $1.31 | $0.19 | ||
| Q3 24 | $0.80 | $0.18 | ||
| Q2 24 | $1.05 | $0.16 | ||
| Q1 24 | $0.16 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.3M | $23.3M |
| Total DebtLower is stronger | $560.0M | — |
| Stockholders' EquityBook value | $1.2B | $946.0M |
| Total Assets | $3.7B | $5.1B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.3M | $23.3M | ||
| Q3 25 | — | $26.3M | ||
| Q2 25 | — | $26.1M | ||
| Q1 25 | — | $19.3M | ||
| Q4 24 | $561.8M | $50.4M | ||
| Q3 24 | — | $69.9M | ||
| Q2 24 | — | $59.0M | ||
| Q1 24 | — | $64.2M |
| Q4 25 | $560.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $608.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $946.0M | ||
| Q3 25 | $1.2B | $973.1M | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $986.9M | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
| Q4 25 | $3.7B | $5.1B | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.4B | $5.2B | ||
| Q1 25 | $3.8B | $5.3B | ||
| Q4 24 | $4.1B | $5.4B | ||
| Q3 24 | $3.4B | $5.4B | ||
| Q2 24 | $3.3B | $5.3B | ||
| Q1 24 | $3.3B | $5.4B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-6.2M | $338.5M |
| Free Cash FlowOCF − Capex | $-77.1M | $299.8M |
| FCF MarginFCF / Revenue | -23.4% | 160.3% |
| Capex IntensityCapex / Revenue | 21.5% | 20.7% |
| Cash ConversionOCF / Net Profit | -0.09× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.1M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.2M | $338.5M | ||
| Q3 25 | $233.9M | $100.2M | ||
| Q2 25 | $299.3M | $79.9M | ||
| Q1 25 | $-350.0M | $85.6M | ||
| Q4 24 | $268.8M | $363.1M | ||
| Q3 24 | $-2.1M | $105.7M | ||
| Q2 24 | $304.4M | $83.2M | ||
| Q1 24 | $-239.6M | $94.0M |
| Q4 25 | $-77.1M | $299.8M | ||
| Q3 25 | $167.0M | $88.0M | ||
| Q2 25 | $250.5M | $73.8M | ||
| Q1 25 | $-396.6M | $79.9M | ||
| Q4 24 | $212.9M | $344.4M | ||
| Q3 24 | $-40.0M | $101.8M | ||
| Q2 24 | $275.8M | $79.5M | ||
| Q1 24 | $-266.4M | $88.6M |
| Q4 25 | -23.4% | 160.3% | ||
| Q3 25 | 56.5% | 46.6% | ||
| Q2 25 | 46.8% | 39.1% | ||
| Q1 25 | -106.9% | 42.4% | ||
| Q4 24 | 63.1% | 181.2% | ||
| Q3 24 | -17.2% | 52.6% | ||
| Q2 24 | 56.0% | 41.7% | ||
| Q1 24 | -78.0% | 45.2% |
| Q4 25 | 21.5% | 20.7% | ||
| Q3 25 | 22.6% | 6.5% | ||
| Q2 25 | 9.1% | 3.2% | ||
| Q1 25 | 12.6% | 3.0% | ||
| Q4 24 | 16.6% | 9.8% | ||
| Q3 24 | 16.3% | 2.0% | ||
| Q2 24 | 5.8% | 1.9% | ||
| Q1 24 | 7.8% | 2.7% |
| Q4 25 | -0.09× | 14.79× | ||
| Q3 25 | 11.61× | 5.44× | ||
| Q2 25 | 38.10× | 4.10× | ||
| Q1 25 | -1232.46× | 6.59× | ||
| Q4 24 | 5.96× | 21.70× | ||
| Q3 24 | -0.08× | 5.65× | ||
| Q2 24 | 8.46× | 4.88× | ||
| Q1 24 | -42.94× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
NSA
Segment breakdown not available.
