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Side-by-side financial comparison of AMERICAN REALTY INVESTORS INC (ARL) and SHOULDER INNOVATIONS, INC. (SI). Click either name above to swap in a different company.

AMERICAN REALTY INVESTORS INC is the larger business by last-quarter revenue ($13.0M vs $11.8M, roughly 1.1× SHOULDER INNOVATIONS, INC.). AMERICAN REALTY INVESTORS INC runs the higher net margin — 75.2% vs -74.3%, a 149.4% gap on every dollar of revenue.

Weingarten Realty Investors was a real estate investment trust that invested in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores. In August 2021, the company was acquired by Kimco Realty.

Shoulder Innovations, Inc. is a medical technology firm specializing in design, development, and commercialization of innovative orthopedic devices for shoulder replacement surgery. Its products reduce surgical complications, improve patient outcomes, and are sold to orthopedic surgeons and healthcare providers across North America and Western Europe.

ARL vs SI — Head-to-Head

Bigger by revenue
ARL
ARL
1.1× larger
ARL
$13.0M
$11.8M
SI
Higher net margin
ARL
ARL
149.4% more per $
ARL
75.2%
-74.3%
SI

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
ARL
ARL
SI
SI
Revenue
$13.0M
$11.8M
Net Profit
$9.8M
$-8.7M
Gross Margin
76.2%
Operating Margin
-23.3%
-65.0%
Net Margin
75.2%
-74.3%
Revenue YoY
8.1%
Net Profit YoY
6175.8%
EPS (diluted)
$0.60
$-0.64

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.

Revenue
ARL
ARL
SI
SI
Q4 25
$13.0M
Q3 25
$12.8M
$11.8M
Q2 25
$12.2M
$11.0M
Q1 25
$12.0M
Q4 24
$12.0M
Q3 24
$11.6M
Q2 24
$11.8M
Q1 24
$11.9M
Net Profit
ARL
ARL
SI
SI
Q4 25
$9.8M
Q3 25
$129.0K
$-8.7M
Q2 25
$2.8M
$-19.2M
Q1 25
$3.0M
Q4 24
$-161.0K
Q3 24
$-17.5M
Q2 24
$1.2M
Q1 24
$1.8M
Gross Margin
ARL
ARL
SI
SI
Q4 25
Q3 25
76.2%
Q2 25
76.2%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
ARL
ARL
SI
SI
Q4 25
-23.3%
Q3 25
-12.3%
-65.0%
Q2 25
-8.3%
-53.2%
Q1 25
-6.8%
Q4 24
-14.8%
Q3 24
-17.8%
Q2 24
-10.8%
Q1 24
-12.7%
Net Margin
ARL
ARL
SI
SI
Q4 25
75.2%
Q3 25
1.0%
-74.3%
Q2 25
23.2%
-174.3%
Q1 25
24.7%
Q4 24
-1.3%
Q3 24
-150.4%
Q2 24
9.9%
Q1 24
14.7%
EPS (diluted)
ARL
ARL
SI
SI
Q4 25
$0.60
Q3 25
$0.01
$-0.64
Q2 25
$0.18
$-165.53
Q1 25
$0.18
Q4 24
$-0.01
Q3 24
$-1.08
Q2 24
$0.07
Q1 24
$0.11

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ARL
ARL
SI
SI
Cash + ST InvestmentsLiquidity on hand
$89.1M
$54.9M
Total DebtLower is stronger
$214.4M
Stockholders' EquityBook value
$617.4M
$147.8M
Total Assets
$1.1B
$177.8M
Debt / EquityLower = less leverage
0.35×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARL
ARL
SI
SI
Q4 25
$89.1M
Q3 25
$82.8M
$54.9M
Q2 25
$73.5M
$27.1M
Q1 25
$88.7M
Q4 24
$99.7M
Q3 24
$131.6M
Q2 24
$127.5M
Q1 24
$130.9M
Total Debt
ARL
ARL
SI
SI
Q4 25
$214.4M
Q3 25
$227.0M
Q2 25
$216.0M
Q1 25
$201.7M
Q4 24
$185.4M
Q3 24
$183.8M
Q2 24
$181.0M
Q1 24
$181.8M
Stockholders' Equity
ARL
ARL
SI
SI
Q4 25
$617.4M
Q3 25
$607.8M
$147.8M
Q2 25
$607.8M
$-78.2M
Q1 25
$604.9M
Q4 24
$601.8M
Q3 24
$602.2M
Q2 24
$619.9M
Q1 24
$618.8M
Total Assets
ARL
ARL
SI
SI
Q4 25
$1.1B
Q3 25
$1.1B
$177.8M
Q2 25
$1.1B
$77.8M
Q1 25
$1.0B
Q4 24
$1.0B
Q3 24
$1.0B
Q2 24
$1.0B
Q1 24
$1.0B
Debt / Equity
ARL
ARL
SI
SI
Q4 25
0.35×
Q3 25
0.37×
Q2 25
0.36×
Q1 25
0.33×
Q4 24
0.31×
Q3 24
0.31×
Q2 24
0.29×
Q1 24
0.29×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ARL
ARL
SI
SI
Operating Cash FlowLast quarter
$-5.6M
$-8.6M
Free Cash FlowOCF − Capex
$-11.4M
FCF MarginFCF / Revenue
-96.7%
Capex IntensityCapex / Revenue
23.9%
Cash ConversionOCF / Net Profit
-0.57×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARL
ARL
SI
SI
Q4 25
$-5.6M
Q3 25
$8.0M
$-8.6M
Q2 25
$-2.9M
$-11.3M
Q1 25
$-7.4M
Q4 24
$1.1M
Q3 24
$13.5M
Q2 24
$-503.0K
Q1 24
$3.9M
Free Cash Flow
ARL
ARL
SI
SI
Q4 25
Q3 25
$-11.4M
Q2 25
$-13.6M
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
ARL
ARL
SI
SI
Q4 25
Q3 25
-96.7%
Q2 25
-123.4%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
ARL
ARL
SI
SI
Q4 25
Q3 25
23.9%
Q2 25
21.0%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Cash Conversion
ARL
ARL
SI
SI
Q4 25
-0.57×
Q3 25
61.81×
Q2 25
-1.03×
Q1 25
-2.50×
Q4 24
Q3 24
Q2 24
-0.43×
Q1 24
2.21×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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