vs
Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and TSS, Inc. (TSSI). 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 $60.9M, roughly 1.2× TSS, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs 20.0%, a 19.9% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 4.0%). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
ARI vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $60.9M |
| Net Profit | $29.2M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | 39.7% | 1.5% |
| Net Margin | 39.9% | 20.0% |
| Revenue YoY | 4.0% | 21.8% |
| Net Profit YoY | -28.2% | 535.7% |
| EPS (diluted) | $0.19 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $61.6M | $41.9M | ||
| Q2 25 | $70.9M | $44.0M | ||
| Q1 25 | $65.8M | $99.0M | ||
| Q4 24 | $70.5M | $50.0M | ||
| Q3 24 | $71.6M | $70.1M | ||
| Q2 24 | $81.1M | $12.2M | ||
| Q1 24 | $80.5M | $15.9M |
| Q4 25 | $29.2M | $12.2M | ||
| Q3 25 | $50.8M | $-1.5M | ||
| Q2 25 | $20.7M | $1.5M | ||
| Q1 25 | $26.0M | $3.0M | ||
| Q4 24 | $40.7M | $1.9M | ||
| Q3 24 | $-91.5M | $2.6M | ||
| Q2 24 | $35.8M | $1.4M | ||
| Q1 24 | $-104.5M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 39.7% | 1.5% | ||
| Q3 25 | 82.8% | -2.2% | ||
| Q2 25 | 29.4% | 5.1% | ||
| Q1 25 | 39.7% | 4.2% | ||
| Q4 24 | 57.9% | 0.0% | ||
| Q3 24 | -127.8% | 5.4% | ||
| Q2 24 | 44.2% | 14.0% | ||
| Q1 24 | -129.6% | 1.6% |
| Q4 25 | 39.9% | 20.0% | ||
| Q3 25 | 82.4% | -3.6% | ||
| Q2 25 | 29.3% | 3.4% | ||
| Q1 25 | 39.5% | 3.0% | ||
| Q4 24 | 57.7% | 3.8% | ||
| Q3 24 | -127.9% | 3.8% | ||
| Q2 24 | 44.1% | 11.5% | ||
| Q1 24 | -129.8% | 0.1% |
| Q4 25 | $0.19 | $0.44 | ||
| Q3 25 | $0.34 | $-0.06 | ||
| Q2 25 | $0.12 | $0.06 | ||
| Q1 25 | $0.16 | $0.12 | ||
| Q4 24 | $0.25 | $0.08 | ||
| Q3 24 | $-0.69 | $0.10 | ||
| Q2 24 | $0.23 | $0.06 | ||
| Q1 24 | $-0.76 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $76.6M |
| Total Assets | $9.9B | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $85.5M | ||
| Q3 25 | $245.9M | $70.7M | ||
| Q2 25 | $177.6M | — | ||
| Q1 25 | $166.4M | — | ||
| Q4 24 | $317.4M | $23.2M | ||
| Q3 24 | $194.3M | $46.4M | ||
| Q2 24 | $174.7M | $8.3M | ||
| Q1 24 | $161.2M | $14.4M |
| Q4 25 | $1.9B | $76.6M | ||
| Q3 25 | $1.9B | $63.4M | ||
| Q2 25 | $1.8B | $9.5M | ||
| Q1 25 | $1.9B | $9.4M | ||
| Q4 24 | $1.9B | $7.1M | ||
| Q3 24 | $1.9B | $7.7M | ||
| Q2 24 | $2.0B | $5.2M | ||
| Q1 24 | $2.0B | $3.7M |
| Q4 25 | $9.9B | $184.9M | ||
| Q3 25 | $9.5B | $165.4M | ||
| Q2 25 | $9.8B | $139.5M | ||
| Q1 25 | $8.8B | $113.5M | ||
| Q4 24 | $8.4B | $96.6M | ||
| Q3 24 | $9.1B | $67.3M | ||
| Q2 24 | $9.3B | $28.9M | ||
| Q1 24 | $9.2B | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | — | $15.8M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | 4.88× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $16.3M | ||
| Q3 25 | $31.7M | $-18.4M | ||
| Q2 25 | $63.2M | $16.3M | ||
| Q1 25 | $39.3M | $20.6M | ||
| Q4 24 | $200.3M | $-21.6M | ||
| Q3 24 | $47.2M | $38.6M | ||
| Q2 24 | $50.2M | $-4.3M | ||
| Q1 24 | $52.8M | $2.6M |
| Q4 25 | — | $15.8M | ||
| Q3 25 | — | $-24.9M | ||
| Q2 25 | — | $5.4M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $-28.4M | ||
| Q3 24 | — | $38.6M | ||
| Q2 24 | — | $-6.0M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | -59.3% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 5.8% | ||
| Q4 24 | — | -56.7% | ||
| Q3 24 | — | 55.1% | ||
| Q2 24 | — | -49.4% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 24.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | 4.88× | 1.34× | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | 11.02× | ||
| Q1 25 | 1.51× | 6.93× | ||
| Q4 24 | 4.93× | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | 1.40× | -3.09× | ||
| Q1 24 | — | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
