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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Apollo Commercial Real Estate Finance, Inc. is the larger business by last-quarter revenue ($73.3M vs $72.0M, roughly 1.0× Globalstar, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -16.1%, a 56.0% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 4.0%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -4.6%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
ARI vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $72.0M |
| Net Profit | $29.2M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | 39.7% | -0.5% |
| Net Margin | 39.9% | -16.1% |
| Revenue YoY | 4.0% | 17.6% |
| Net Profit YoY | -28.2% | 76.9% |
| EPS (diluted) | $0.19 | $-0.11 |
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 | $73.3M | $72.0M | ||
| Q3 25 | $61.6M | $73.8M | ||
| Q2 25 | $70.9M | $67.1M | ||
| Q1 25 | $65.8M | $60.0M | ||
| Q4 24 | $70.5M | $61.2M | ||
| Q3 24 | $71.6M | $72.3M | ||
| Q2 24 | $81.1M | $60.4M | ||
| Q1 24 | $80.5M | $56.5M |
| Q4 25 | $29.2M | $-11.6M | ||
| Q3 25 | $50.8M | $1.1M | ||
| Q2 25 | $20.7M | $19.2M | ||
| Q1 25 | $26.0M | $-17.3M | ||
| Q4 24 | $40.7M | $-50.2M | ||
| Q3 24 | $-91.5M | $9.9M | ||
| Q2 24 | $35.8M | $-9.7M | ||
| Q1 24 | $-104.5M | $-13.2M |
| Q4 25 | 39.7% | -0.5% | ||
| Q3 25 | 82.8% | 13.8% | ||
| Q2 25 | 29.4% | 9.2% | ||
| Q1 25 | 39.7% | -14.2% | ||
| Q4 24 | 57.9% | -6.9% | ||
| Q3 24 | -127.8% | 13.0% | ||
| Q2 24 | 44.2% | -2.4% | ||
| Q1 24 | -129.6% | -8.3% |
| Q4 25 | 39.9% | -16.1% | ||
| Q3 25 | 82.4% | 1.5% | ||
| Q2 25 | 29.3% | 28.6% | ||
| Q1 25 | 39.5% | -28.9% | ||
| Q4 24 | 57.7% | -82.1% | ||
| Q3 24 | -127.9% | 13.7% | ||
| Q2 24 | 44.1% | -16.0% | ||
| Q1 24 | -129.8% | -23.4% |
| Q4 25 | $0.19 | $-0.11 | ||
| Q3 25 | $0.34 | $-0.01 | ||
| Q2 25 | $0.12 | $0.13 | ||
| Q1 25 | $0.16 | $-0.16 | ||
| Q4 24 | $0.25 | $-0.57 | ||
| Q3 24 | $-0.69 | $0.00 | ||
| Q2 24 | $0.23 | $-0.01 | ||
| Q1 24 | $-0.76 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $447.5M |
| Total DebtLower is stronger | — | $483.8M |
| Stockholders' EquityBook value | $1.9B | $355.7M |
| Total Assets | $9.9B | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $447.5M | ||
| Q3 25 | $245.9M | $346.3M | ||
| Q2 25 | $177.6M | $308.2M | ||
| Q1 25 | $166.4M | $241.4M | ||
| Q4 24 | $317.4M | $391.2M | ||
| Q3 24 | $194.3M | $51.9M | ||
| Q2 24 | $174.7M | $64.3M | ||
| Q1 24 | $161.2M | $59.3M |
| Q4 25 | — | $483.8M | ||
| Q3 25 | — | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | $1.9B | $355.7M | ||
| Q3 25 | $1.9B | $364.8M | ||
| Q2 25 | $1.8B | $360.9M | ||
| Q1 25 | $1.9B | $344.3M | ||
| Q4 24 | $1.9B | $358.9M | ||
| Q3 24 | $1.9B | $394.1M | ||
| Q2 24 | $2.0B | $383.0M | ||
| Q1 24 | $2.0B | $377.1M |
| Q4 25 | $9.9B | $2.3B | ||
| Q3 25 | $9.5B | $2.2B | ||
| Q2 25 | $9.8B | $1.9B | ||
| Q1 25 | $8.8B | $1.7B | ||
| Q4 24 | $8.4B | $1.7B | ||
| Q3 24 | $9.1B | $917.6M | ||
| Q2 24 | $9.3B | $926.2M | ||
| Q1 24 | $9.2B | $917.0M |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $142.5M | $175.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $175.9M | ||
| Q3 25 | $31.7M | $236.0M | ||
| Q2 25 | $63.2M | $157.9M | ||
| Q1 25 | $39.3M | $51.9M | ||
| Q4 24 | $200.3M | $340.7M | ||
| Q3 24 | $47.2M | $32.0M | ||
| Q2 24 | $50.2M | $36.7M | ||
| Q1 24 | $52.8M | $29.8M |
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | 216.53× | ||
| Q2 25 | 3.05× | 8.22× | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
