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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Telesat Corp (TSAT). Click either name above to swap in a different company.
Telesat Corp is the larger business by last-quarter revenue ($73.8M vs $73.3M, roughly 1.0× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -119.8%, a 159.7% gap on every dollar of revenue. Over the past eight quarters, Apollo Commercial Real Estate Finance, Inc.'s revenue compounded faster (-4.6% CAGR vs -64.0%).
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.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
ARI vs TSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $73.8M |
| Net Profit | $29.2M | $-88.4M |
| Gross Margin | — | 95.3% |
| Operating Margin | 39.7% | 5.9% |
| Net Margin | 39.9% | -119.8% |
| Revenue YoY | 4.0% | — |
| Net Profit YoY | -28.2% | — |
| EPS (diluted) | $0.19 | — |
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 | — | ||
| Q3 25 | $61.6M | $73.8M | ||
| Q2 25 | $70.9M | $77.5M | ||
| Q1 25 | $65.8M | $152.2M | ||
| Q4 24 | $70.5M | — | ||
| Q3 24 | $71.6M | — | ||
| Q2 24 | $81.1M | $363.2M | ||
| Q1 24 | $80.5M | — |
| Q4 25 | $29.2M | — | ||
| Q3 25 | $50.8M | $-88.4M | ||
| Q2 25 | $20.7M | $55.1M | ||
| Q1 25 | $26.0M | $-52.3M | ||
| Q4 24 | $40.7M | — | ||
| Q3 24 | $-91.5M | — | ||
| Q2 24 | $35.8M | $547.4M | ||
| Q1 24 | $-104.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 95.3% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 82.8% | 5.9% | ||
| Q2 25 | 29.4% | 16.8% | ||
| Q1 25 | 39.7% | — | ||
| Q4 24 | 57.9% | — | ||
| Q3 24 | -127.8% | — | ||
| Q2 24 | 44.2% | — | ||
| Q1 24 | -129.6% | — |
| Q4 25 | 39.9% | — | ||
| Q3 25 | 82.4% | -119.8% | ||
| Q2 25 | 29.3% | 71.2% | ||
| Q1 25 | 39.5% | -34.4% | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -127.9% | — | ||
| Q2 24 | 44.1% | 150.7% | ||
| Q1 24 | -129.8% | — |
| Q4 25 | $0.19 | — | ||
| Q3 25 | $0.34 | — | ||
| Q2 25 | $0.12 | — | ||
| Q1 25 | $0.16 | — | ||
| Q4 24 | $0.25 | — | ||
| Q3 24 | $-0.69 | — | ||
| Q2 24 | $0.23 | — | ||
| Q1 24 | $-0.76 | — |
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 | $352.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $1.6B |
| Total Assets | $9.9B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | — | ||
| Q3 25 | $245.9M | $352.3M | ||
| Q2 25 | $177.6M | $399.6M | ||
| Q1 25 | $166.4M | $552.1M | ||
| Q4 24 | $317.4M | — | ||
| Q3 24 | $194.3M | — | ||
| Q2 24 | $174.7M | $1.7B | ||
| Q1 24 | $161.2M | — |
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.9B | $2.5B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.0B | $2.4B | ||
| Q1 24 | $2.0B | — |
| Q4 25 | $9.9B | — | ||
| Q3 25 | $9.5B | $5.1B | ||
| Q2 25 | $9.8B | $4.9B | ||
| Q1 25 | $8.8B | $6.9B | ||
| Q4 24 | $8.4B | — | ||
| Q3 24 | $9.1B | — | ||
| Q2 24 | $9.3B | $6.3B | ||
| Q1 24 | $9.2B | — |
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 | — |
| 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 | — | ||
| Q3 25 | $31.7M | — | ||
| Q2 25 | $63.2M | — | ||
| Q1 25 | $39.3M | — | ||
| Q4 24 | $200.3M | — | ||
| Q3 24 | $47.2M | — | ||
| Q2 24 | $50.2M | — | ||
| Q1 24 | $52.8M | — |
| 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.
