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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Federal Realty Investment Trust (FRT). Click either name above to swap in a different company.
Federal Realty Investment Trust is the larger business by last-quarter revenue ($336.0M vs $208.8M, roughly 1.6× Bandwidth Inc.). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 1.9%, a 36.7% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 8.7%). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 6.5%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
BAND vs FRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $336.0M |
| Net Profit | $4.0M | $129.7M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | 53.8% |
| Net Margin | 1.9% | 38.6% |
| Revenue YoY | 20.1% | 8.7% |
| Net Profit YoY | 200.0% | 103.5% |
| EPS (diluted) | $-0.08 | $1.49 |
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.
| Q1 26 | $208.8M | $336.0M | ||
| Q4 25 | $207.7M | $336.0M | ||
| Q3 25 | $191.9M | $322.3M | ||
| Q2 25 | $180.0M | $311.5M | ||
| Q1 25 | $174.2M | $309.2M | ||
| Q4 24 | $210.0M | $311.4M | ||
| Q3 24 | $193.9M | $303.6M | ||
| Q2 24 | $173.6M | $296.1M |
| Q1 26 | $4.0M | $129.7M | ||
| Q4 25 | — | $129.7M | ||
| Q3 25 | $-1.2M | $61.6M | ||
| Q2 25 | $-4.9M | $155.9M | ||
| Q1 25 | $-3.7M | $63.8M | ||
| Q4 24 | — | $65.5M | ||
| Q3 24 | $413.0K | $61.0M | ||
| Q2 24 | $4.1M | $112.0M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 41.0% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 37.3% | — |
| Q1 26 | 60.5% | 53.8% | ||
| Q4 25 | -1.9% | 53.8% | ||
| Q3 25 | -1.0% | 34.3% | ||
| Q2 25 | -2.1% | 65.1% | ||
| Q1 25 | -2.7% | 35.0% | ||
| Q4 24 | -1.3% | 35.1% | ||
| Q3 24 | -0.5% | 34.9% | ||
| Q2 24 | -3.5% | 53.0% |
| Q1 26 | 1.9% | 38.6% | ||
| Q4 25 | — | 38.6% | ||
| Q3 25 | -0.6% | 19.1% | ||
| Q2 25 | -2.7% | 50.0% | ||
| Q1 25 | -2.1% | 20.6% | ||
| Q4 24 | — | 21.0% | ||
| Q3 24 | 0.2% | 20.1% | ||
| Q2 24 | 2.3% | 37.8% |
| Q1 26 | $-0.08 | $1.49 | ||
| Q4 25 | $-0.10 | $1.49 | ||
| Q3 25 | $-0.04 | $0.69 | ||
| Q2 25 | $-0.16 | $1.78 | ||
| Q1 25 | $-0.13 | $0.72 | ||
| Q4 24 | $0.27 | $0.74 | ||
| Q3 24 | $0.01 | $0.70 | ||
| Q2 24 | $-0.17 | $1.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $107.4M |
| Total DebtLower is stronger | — | $5.0B |
| Stockholders' EquityBook value | $405.7M | $3.2B |
| Total Assets | $984.2M | $9.1B |
| Debt / EquityLower = less leverage | — | 1.53× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | $107.4M | ||
| Q4 25 | $111.3M | $107.4M | ||
| Q3 25 | $80.4M | $111.3M | ||
| Q2 25 | $68.1M | $177.0M | ||
| Q1 25 | $41.7M | $109.2M | ||
| Q4 24 | $83.8M | $123.4M | ||
| Q3 24 | $79.9M | $97.0M | ||
| Q2 24 | $76.4M | $103.2M |
| Q1 26 | — | $5.0B | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $405.7M | $3.2B | ||
| Q4 25 | $400.0M | $3.2B | ||
| Q3 25 | $392.7M | $3.2B | ||
| Q2 25 | $384.5M | $3.2B | ||
| Q1 25 | $345.4M | $3.2B | ||
| Q4 24 | $312.5M | $3.2B | ||
| Q3 24 | $336.6M | $3.1B | ||
| Q2 24 | $307.4M | $3.0B |
| Q1 26 | $984.2M | $9.1B | ||
| Q4 25 | $1.1B | $9.1B | ||
| Q3 25 | $1.0B | $8.9B | ||
| Q2 25 | $1.0B | $8.6B | ||
| Q1 25 | $964.4M | $8.6B | ||
| Q4 24 | $989.2M | $8.5B | ||
| Q3 24 | $1.0B | $8.5B | ||
| Q2 24 | $1.0B | $8.4B |
| Q1 26 | — | 1.53× | ||
| Q4 25 | — | 1.53× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | — |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $622.4M | ||
| Q3 25 | $22.2M | $147.8M | ||
| Q2 25 | $31.7M | $150.7M | ||
| Q1 25 | $-3.1M | $179.0M | ||
| Q4 24 | $36.5M | $574.6M | ||
| Q3 24 | $20.5M | $144.1M | ||
| Q2 24 | $24.4M | $169.7M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.80× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 2.81× | ||
| Q4 24 | — | 8.77× | ||
| Q3 24 | 49.55× | 2.36× | ||
| Q2 24 | 6.03× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
