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Side-by-side financial comparison of Axos Financial, Inc. (AX) and Essex Property Trust (ESS). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $385.1M, roughly 1.2× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 33.3% vs 17.9%, a 15.5% gap on every dollar of revenue. On growth, Axos Financial, Inc. posted the faster year-over-year revenue change (25.1% vs 5.5%). Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (14.3% CAGR vs 6.0%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
AX vs ESS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $385.1M | $479.6M |
| Net Profit | $128.4M | $85.7M |
| Gross Margin | — | 70.0% |
| Operating Margin | 45.6% | 31.7% |
| Net Margin | 33.3% | 17.9% |
| Revenue YoY | 25.1% | 5.5% |
| Net Profit YoY | 22.6% | -71.6% |
| EPS (diluted) | $2.22 | $1.24 |
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 | $385.1M | $479.6M | ||
| Q3 25 | $323.4M | $473.3M | ||
| Q2 25 | $321.4M | $469.8M | ||
| Q1 25 | $308.8M | $464.6M | ||
| Q4 24 | $307.9M | $454.5M | ||
| Q3 24 | $320.7M | $450.7M | ||
| Q2 24 | $290.9M | $442.4M | ||
| Q1 24 | $294.8M | $426.9M |
| Q4 25 | $128.4M | $85.7M | ||
| Q3 25 | $112.4M | $172.7M | ||
| Q2 25 | $110.7M | $231.5M | ||
| Q1 25 | $105.2M | $212.8M | ||
| Q4 24 | $104.7M | $301.7M | ||
| Q3 24 | $112.3M | $125.5M | ||
| Q2 24 | $104.9M | $99.0M | ||
| Q1 24 | $110.7M | $285.1M |
| Q4 25 | — | 70.0% | ||
| Q3 25 | — | 69.2% | ||
| Q2 25 | — | 70.7% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 69.5% | ||
| Q2 24 | — | 70.8% | ||
| Q1 24 | — | 69.7% |
| Q4 25 | 45.6% | 31.7% | ||
| Q3 25 | 46.3% | 44.5% | ||
| Q2 25 | 48.5% | 59.5% | ||
| Q1 25 | 47.9% | 55.3% | ||
| Q4 24 | 48.8% | 67.0% | ||
| Q3 24 | 49.6% | 28.6% | ||
| Q2 24 | 49.6% | 31.1% | ||
| Q1 24 | 52.8% | 31.0% |
| Q4 25 | 33.3% | 17.9% | ||
| Q3 25 | 34.7% | 36.5% | ||
| Q2 25 | 34.4% | 49.3% | ||
| Q1 25 | 34.1% | 45.8% | ||
| Q4 24 | 34.0% | 66.4% | ||
| Q3 24 | 35.0% | 27.8% | ||
| Q2 24 | 36.0% | 22.4% | ||
| Q1 24 | 37.6% | 66.8% |
| Q4 25 | $2.22 | $1.24 | ||
| Q3 25 | $1.94 | $2.56 | ||
| Q2 25 | $1.89 | $3.44 | ||
| Q1 25 | $1.81 | $3.16 | ||
| Q4 24 | $1.80 | $4.00 | ||
| Q3 24 | $1.93 | $1.84 | ||
| Q2 24 | $1.75 | $1.45 | ||
| Q1 24 | $1.91 | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $76.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.9B | $5.5B |
| Total Assets | $28.2B | $13.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $76.2M | ||
| Q3 25 | $2.6B | $66.0M | ||
| Q2 25 | $1.9B | $58.7M | ||
| Q1 25 | $2.0B | $98.7M | ||
| Q4 24 | $2.4B | $66.8M | ||
| Q3 24 | $2.6B | $71.3M | ||
| Q2 24 | $2.0B | $55.2M | ||
| Q1 24 | $2.1B | $499.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | $312.7M | $6.4B | ||
| Q1 25 | $377.4M | $6.8B | ||
| Q4 24 | $358.7M | — | ||
| Q3 24 | $313.5M | $6.4B | ||
| Q2 24 | $325.7M | $6.2B | ||
| Q1 24 | $330.4M | $6.6B |
| Q4 25 | $2.9B | $5.5B | ||
| Q3 25 | $2.8B | $5.6B | ||
| Q2 25 | $2.7B | $5.6B | ||
| Q1 25 | $2.6B | $5.6B | ||
| Q4 24 | $2.5B | $5.5B | ||
| Q3 24 | $2.4B | $5.4B | ||
| Q2 24 | $2.3B | $5.5B | ||
| Q1 24 | $2.2B | $5.5B |
| Q4 25 | $28.2B | $13.2B | ||
| Q3 25 | $27.4B | $13.2B | ||
| Q2 25 | $24.8B | $13.2B | ||
| Q1 25 | $24.0B | $13.2B | ||
| Q4 24 | $23.7B | $12.9B | ||
| Q3 24 | $23.6B | $12.6B | ||
| Q2 24 | $22.9B | $12.5B | ||
| Q1 24 | $22.6B | $12.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | 0.12× | 1.14× | ||
| Q1 25 | 0.14× | 1.22× | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | 1.18× | ||
| Q2 24 | 0.14× | 1.13× | ||
| Q1 24 | 0.15× | 1.19× |
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 | $104.1M | $1.1B |
| Free Cash FlowOCF − Capex | $85.4M | — |
| FCF MarginFCF / Revenue | 22.2% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | 0.81× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $695.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.1M | $1.1B | ||
| Q3 25 | $118.4M | $342.6M | ||
| Q2 25 | $490.3M | $216.1M | ||
| Q1 25 | $73.7M | $281.5M | ||
| Q4 24 | $162.5M | $1.1B | ||
| Q3 24 | $70.8M | $316.2M | ||
| Q2 24 | $305.5M | $218.9M | ||
| Q1 24 | $115.8M | $314.9M |
| Q4 25 | $85.4M | — | ||
| Q3 25 | $109.3M | — | ||
| Q2 25 | $436.1M | — | ||
| Q1 25 | $65.1M | — | ||
| Q4 24 | $156.4M | — | ||
| Q3 24 | $53.0M | — | ||
| Q2 24 | $269.5M | — | ||
| Q1 24 | $107.3M | — |
| Q4 25 | 22.2% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 135.7% | — | ||
| Q1 25 | 21.1% | — | ||
| Q4 24 | 50.8% | — | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 92.6% | — | ||
| Q1 24 | 36.4% | — |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 2.9% | — |
| Q4 25 | 0.81× | 12.53× | ||
| Q3 25 | 1.05× | 1.98× | ||
| Q2 25 | 4.43× | 0.93× | ||
| Q1 25 | 0.70× | 1.32× | ||
| Q4 24 | 1.55× | 3.54× | ||
| Q3 24 | 0.63× | 2.52× | ||
| Q2 24 | 2.91× | 2.21× | ||
| Q1 24 | 1.05× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
