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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $73.3M, roughly 1.1× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -3.2%, a 43.1% gap on every dollar of revenue. On growth, Apollo Commercial Real Estate Finance, Inc. posted the faster year-over-year revenue change (4.0% vs -14.9%). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% 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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
ARI vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $84.2M |
| Net Profit | $29.2M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | 39.7% | -2.9% |
| Net Margin | 39.9% | -3.2% |
| Revenue YoY | 4.0% | -14.9% |
| Net Profit YoY | -28.2% | -44.5% |
| EPS (diluted) | $0.19 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $61.6M | $102.9M | ||
| Q2 25 | $70.9M | $72.2M | ||
| Q1 25 | $65.8M | $57.6M | ||
| Q4 24 | $70.5M | $98.9M | ||
| Q3 24 | $71.6M | $54.2M | ||
| Q2 24 | $81.1M | $78.6M | ||
| Q1 24 | $80.5M | $51.4M |
| Q4 25 | $29.2M | $-2.7M | ||
| Q3 25 | $50.8M | $-2.3M | ||
| Q2 25 | $20.7M | $-2.3M | ||
| Q1 25 | $26.0M | $-1.1M | ||
| Q4 24 | $40.7M | $-1.9M | ||
| Q3 24 | $-91.5M | $-773.0K | ||
| Q2 24 | $35.8M | $-2.0M | ||
| Q1 24 | $-104.5M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 39.7% | -2.9% | ||
| Q3 25 | 82.8% | -0.5% | ||
| Q2 25 | 29.4% | -0.9% | ||
| Q1 25 | 39.7% | -1.0% | ||
| Q4 24 | 57.9% | -0.3% | ||
| Q3 24 | -127.8% | -0.1% | ||
| Q2 24 | 44.2% | -0.4% | ||
| Q1 24 | -129.6% | -0.4% |
| Q4 25 | 39.9% | -3.2% | ||
| Q3 25 | 82.4% | -2.3% | ||
| Q2 25 | 29.3% | -3.3% | ||
| Q1 25 | 39.5% | -2.0% | ||
| Q4 24 | 57.7% | -1.9% | ||
| Q3 24 | -127.9% | -1.4% | ||
| Q2 24 | 44.1% | -2.5% | ||
| Q1 24 | -129.8% | -1.1% |
| Q4 25 | $0.19 | $-0.92 | ||
| Q3 25 | $0.34 | $-0.68 | ||
| Q2 25 | $0.12 | $-0.82 | ||
| Q1 25 | $0.16 | $-0.44 | ||
| Q4 24 | $0.25 | $-1.19 | ||
| Q3 24 | $-0.69 | $-0.40 | ||
| Q2 24 | $0.23 | $-0.90 | ||
| Q1 24 | $-0.76 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $1.9B | $16.3M |
| Total Assets | $9.9B | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $2.2M | ||
| Q3 25 | $245.9M | $2.3M | ||
| Q2 25 | $177.6M | $2.0M | ||
| Q1 25 | $166.4M | $1.1M | ||
| Q4 24 | $317.4M | $2.5M | ||
| Q3 24 | $194.3M | $2.1M | ||
| Q2 24 | $174.7M | $797.2K | ||
| Q1 24 | $161.2M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $1.9B | $16.3M | ||
| Q3 25 | $1.9B | $17.9M | ||
| Q2 25 | $1.8B | $14.3M | ||
| Q1 25 | $1.9B | $11.6M | ||
| Q4 24 | $1.9B | $11.9M | ||
| Q3 24 | $1.9B | $8.1M | ||
| Q2 24 | $2.0B | $7.6M | ||
| Q1 24 | $2.0B | $8.4M |
| Q4 25 | $9.9B | $51.1M | ||
| Q3 25 | $9.5B | $46.9M | ||
| Q2 25 | $9.8B | $51.4M | ||
| Q1 25 | $8.8B | $42.0M | ||
| Q4 24 | $8.4B | $79.0M | ||
| Q3 24 | $9.1B | $32.4M | ||
| Q2 24 | $9.3B | $30.0M | ||
| Q1 24 | $9.2B | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | — | $-1.2M |
| FCF MarginFCF / Revenue | — | -1.5% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $-1.2M | ||
| Q3 25 | $31.7M | $-953.0K | ||
| Q2 25 | $63.2M | $257.7K | ||
| Q1 25 | $39.3M | $-1.9M | ||
| Q4 24 | $200.3M | $-403.7K | ||
| Q3 24 | $47.2M | $625.0K | ||
| Q2 24 | $50.2M | $-2.6M | ||
| Q1 24 | $52.8M | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | — | $-969.2K | ||
| Q2 25 | — | $211.7K | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | — | $594.5K | ||
| Q2 24 | — | $-2.6M | ||
| Q1 24 | — | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | — | -0.9% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | -3.4% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| 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.
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
