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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Plymouth Industrial REIT, Inc. (PLYM). Click either name above to swap in a different company.
Plymouth Industrial REIT, Inc. is the larger business by last-quarter revenue ($51.2M vs $28.2M, roughly 1.8× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -106.3%, a 125.1% gap on every dollar of revenue. On growth, Plymouth Industrial REIT, Inc. posted the faster year-over-year revenue change (-1.4% vs -22.0%). Over the past eight quarters, Plymouth Industrial REIT, Inc.'s revenue compounded faster (0.4% CAGR vs -1.2%).
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
Plymouth Industrial REIT, Inc. is a real estate investment trust focused on owning, operating, and acquiring high-quality industrial properties including distribution centers, warehouses, and light industrial facilities across key U.S. logistics hubs. It serves tenants in e-commerce, retail, manufacturing, and third-party logistics sectors, supporting diverse business supply chain needs.
AREN vs PLYM — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $51.2M |
| Net Profit | $5.3M | $-54.4M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | -102.5% |
| Net Margin | 18.9% | -106.3% |
| Revenue YoY | -22.0% | -1.4% |
| Net Profit YoY | -22.5% | -248.5% |
| EPS (diluted) | $0.12 | $-1.23 |
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 | $28.2M | — | ||
| Q3 25 | $29.8M | $51.2M | ||
| Q2 25 | $45.0M | $47.2M | ||
| Q1 25 | $31.8M | $45.6M | ||
| Q4 24 | $36.2M | $47.6M | ||
| Q3 24 | $33.6M | $51.9M | ||
| Q2 24 | $27.2M | $48.7M | ||
| Q1 24 | $28.9M | $50.2M |
| Q4 25 | $5.3M | — | ||
| Q3 25 | $6.9M | $-54.4M | ||
| Q2 25 | $108.6M | $-6.1M | ||
| Q1 25 | $4.0M | $5.8M | ||
| Q4 24 | $6.9M | $147.4M | ||
| Q3 24 | $4.0M | $-15.6M | ||
| Q2 24 | $-8.2M | $1.3M | ||
| Q1 24 | $-103.4M | $6.2M |
| Q4 25 | 43.6% | — | ||
| Q3 25 | 50.2% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 52.6% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 39.4% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | 26.6% | — | ||
| Q3 25 | 31.9% | -102.5% | ||
| Q2 25 | 36.5% | -10.3% | ||
| Q1 25 | 23.1% | — | ||
| Q4 24 | 28.6% | — | ||
| Q3 24 | 24.0% | -29.6% | ||
| Q2 24 | -9.5% | 2.7% | ||
| Q1 24 | -27.5% | — |
| Q4 25 | 18.9% | — | ||
| Q3 25 | 23.1% | -106.3% | ||
| Q2 25 | 241.4% | -12.9% | ||
| Q1 25 | 12.6% | 12.8% | ||
| Q4 24 | 19.0% | 309.9% | ||
| Q3 24 | 11.8% | -30.1% | ||
| Q2 24 | -30.1% | 2.7% | ||
| Q1 24 | -357.1% | 12.4% |
| Q4 25 | $0.12 | — | ||
| Q3 25 | $0.14 | $-1.23 | ||
| Q2 25 | $2.28 | $-0.14 | ||
| Q1 25 | $0.08 | $0.13 | ||
| Q4 24 | $1.23 | $3.24 | ||
| Q3 24 | $0.11 | $-0.35 | ||
| Q2 24 | $-0.28 | $0.03 | ||
| Q1 24 | $-3.91 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | — |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $470.1M |
| Total Assets | $112.6M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | — | ||
| Q3 25 | $12.5M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $2.9M | — | ||
| Q4 24 | $4.4M | — | ||
| Q3 24 | $5.8M | — | ||
| Q2 24 | $6.1M | — | ||
| Q1 24 | $4.0M | — |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | $646.4M | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | — | ||
| Q3 25 | $-10.4M | $470.1M | ||
| Q2 25 | $-17.3M | $539.6M | ||
| Q1 25 | $-126.1M | $571.0M | ||
| Q4 24 | $-130.3M | $579.5M | ||
| Q3 24 | $-137.5M | $436.5M | ||
| Q2 24 | $-157.2M | $475.2M | ||
| Q1 24 | $-149.6M | $484.6M |
| Q4 25 | $112.6M | — | ||
| Q3 25 | $121.4M | $1.6B | ||
| Q2 25 | $127.8M | $1.6B | ||
| Q1 25 | $114.6M | $1.4B | ||
| Q4 24 | $116.4M | $1.4B | ||
| Q3 24 | $114.2M | $1.5B | ||
| Q2 24 | $113.4M | $1.4B | ||
| Q1 24 | $120.3M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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 | $13.1M | $20.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | — | ||
| Q3 25 | $12.2M | $20.0M | ||
| Q2 25 | $10.3M | $23.4M | ||
| Q1 25 | $3.7M | $15.6M | ||
| Q4 24 | $-8.6M | $96.1M | ||
| Q3 24 | $-2.3M | $17.6M | ||
| Q2 24 | $-3.2M | $19.9M | ||
| Q1 24 | $-2.0M | $16.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.91× | 2.67× | ||
| Q4 24 | -1.25× | 0.65× | ||
| Q3 24 | -0.59× | — | ||
| Q2 24 | — | 15.12× | ||
| Q1 24 | — | 2.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
