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Side-by-side financial comparison of California BanCorp \ CA (BCAL) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

INNOVATIVE INDUSTRIAL PROPERTIES INC is the larger business by last-quarter revenue ($66.7M vs $45.9M, roughly 1.5× California BanCorp \ CA). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 35.8%, a 12.0% gap on every dollar of revenue. On growth, California BanCorp \ CA posted the faster year-over-year revenue change (0.8% vs -13.1%). Over the past eight quarters, California BanCorp \ CA's revenue compounded faster (44.7% CAGR vs -6.0%).

Pacific Premier Bancorp, Inc. is an American bank holding company under the Bank Holding Company Act of 1956 headquartered in Irvine, California, US. Its principal business focuses on Pacific Premier Bank, which offers a range of financial services to individuals, businesses, and professionals. The bank operates numerous branches in California, Arizona, Nevada, and Washington.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

BCAL vs IIPR — Head-to-Head

Bigger by revenue
IIPR
IIPR
1.5× larger
IIPR
$66.7M
$45.9M
BCAL
Growing faster (revenue YoY)
BCAL
BCAL
+13.9% gap
BCAL
0.8%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
12.0% more per $
IIPR
47.8%
35.8%
BCAL
Faster 2-yr revenue CAGR
BCAL
BCAL
Annualised
BCAL
44.7%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
BCAL
BCAL
IIPR
IIPR
Revenue
$45.9M
$66.7M
Net Profit
$16.4M
$31.8M
Gross Margin
Operating Margin
48.8%
47.8%
Net Margin
35.8%
47.8%
Revenue YoY
0.8%
-13.1%
Net Profit YoY
-2.1%
-20.4%
EPS (diluted)
$0.50
$1.07

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
BCAL
BCAL
IIPR
IIPR
Q4 25
$45.9M
$66.7M
Q3 25
$45.2M
$64.7M
Q2 25
$44.3M
$62.9M
Q1 25
$44.8M
$71.7M
Q4 24
$45.5M
$76.7M
Q3 24
$38.1M
$76.5M
Q2 24
$22.2M
$79.8M
Q1 24
$21.9M
$75.5M
Net Profit
BCAL
BCAL
IIPR
IIPR
Q4 25
$16.4M
$31.8M
Q3 25
$15.7M
$29.3M
Q2 25
$14.1M
$26.0M
Q1 25
$16.9M
$31.1M
Q4 24
$16.8M
$40.0M
Q3 24
$-16.5M
$40.2M
Q2 24
$190.0K
$42.0M
Q1 24
$4.9M
$39.4M
Operating Margin
BCAL
BCAL
IIPR
IIPR
Q4 25
48.8%
47.8%
Q3 25
48.3%
45.5%
Q2 25
45.3%
45.9%
Q1 25
52.8%
47.4%
Q4 24
52.2%
54.7%
Q3 24
-59.1%
54.8%
Q2 24
1.3%
53.1%
Q1 24
33.1%
55.7%
Net Margin
BCAL
BCAL
IIPR
IIPR
Q4 25
35.8%
47.8%
Q3 25
34.7%
45.3%
Q2 25
31.8%
41.4%
Q1 25
37.6%
43.3%
Q4 24
37.7%
52.2%
Q3 24
-43.2%
52.6%
Q2 24
0.9%
52.6%
Q1 24
22.5%
52.3%
EPS (diluted)
BCAL
BCAL
IIPR
IIPR
Q4 25
$0.50
$1.07
Q3 25
$0.48
$0.97
Q2 25
$0.43
$0.86
Q1 25
$0.52
$1.03
Q4 24
$0.54
$1.35
Q3 24
$-0.59
$1.37
Q2 24
$0.01
$1.44
Q1 24
$0.26
$1.36

Balance Sheet & Financial Strength

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

Metric
BCAL
BCAL
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$399.9M
$47.6M
Total DebtLower is stronger
$33.8M
$393.7M
Stockholders' EquityBook value
$576.6M
$1.8B
Total Assets
$4.0B
$2.4B
Debt / EquityLower = less leverage
0.06×
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BCAL
BCAL
IIPR
IIPR
Q4 25
$399.9M
$47.6M
Q3 25
$559.2M
$41.9M
Q2 25
$430.1M
$104.9M
Q1 25
$439.2M
$133.3M
Q4 24
$388.2M
$151.2M
Q3 24
$614.4M
$172.4M
Q2 24
$104.7M
$160.9M
Q1 24
$86.5M
$173.5M
Total Debt
BCAL
BCAL
IIPR
IIPR
Q4 25
$33.8M
$393.7M
Q3 25
$33.4M
Q2 25
$52.9M
Q1 25
$70.3M
Q4 24
$69.7M
Q3 24
$69.1M
Q2 24
$42.9M
Q1 24
$44.9M
Stockholders' Equity
BCAL
BCAL
IIPR
IIPR
Q4 25
$576.6M
$1.8B
Q3 25
$564.7M
$1.9B
Q2 25
$547.6M
$1.9B
Q1 25
$531.4M
$1.9B
Q4 24
$511.8M
$1.9B
Q3 24
$498.1M
$1.9B
Q2 24
$293.2M
$1.9B
Q1 24
$292.5M
$2.0B
Total Assets
BCAL
BCAL
IIPR
IIPR
Q4 25
$4.0B
$2.4B
Q3 25
$4.1B
$2.3B
Q2 25
$4.0B
$2.3B
Q1 25
$4.0B
$2.4B
Q4 24
$4.0B
$2.4B
Q3 24
$4.4B
$2.4B
Q2 24
$2.3B
$2.4B
Q1 24
$2.3B
$2.4B
Debt / Equity
BCAL
BCAL
IIPR
IIPR
Q4 25
0.06×
0.21×
Q3 25
0.06×
Q2 25
0.10×
Q1 25
0.13×
Q4 24
0.14×
Q3 24
0.14×
Q2 24
0.15×
Q1 24
0.15×

Cash Flow & Capital Efficiency

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

Metric
BCAL
BCAL
IIPR
IIPR
Operating Cash FlowLast quarter
$57.3M
$198.2M
Free Cash FlowOCF − Capex
$56.9M
FCF MarginFCF / Revenue
124.1%
Capex IntensityCapex / Revenue
0.8%
Cash ConversionOCF / Net Profit
3.49×
6.22×
TTM Free Cash FlowTrailing 4 quarters
$93.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BCAL
BCAL
IIPR
IIPR
Q4 25
$57.3M
$198.2M
Q3 25
$16.0M
$45.6M
Q2 25
$13.4M
$48.4M
Q1 25
$7.0M
$54.2M
Q4 24
$50.3M
$258.4M
Q3 24
$18.3M
$64.9M
Q2 24
$309.0K
$64.2M
Q1 24
$8.1M
$71.6M
Free Cash Flow
BCAL
BCAL
IIPR
IIPR
Q4 25
$56.9M
Q3 25
$15.9M
Q2 25
$13.4M
Q1 25
$6.9M
Q4 24
$49.7M
Q3 24
$18.1M
Q2 24
$171.0K
Q1 24
$8.0M
FCF Margin
BCAL
BCAL
IIPR
IIPR
Q4 25
124.1%
Q3 25
35.1%
Q2 25
30.2%
Q1 25
15.3%
Q4 24
109.2%
Q3 24
47.5%
Q2 24
0.8%
Q1 24
36.4%
Capex Intensity
BCAL
BCAL
IIPR
IIPR
Q4 25
0.8%
Q3 25
0.2%
Q2 25
0.1%
Q1 25
0.2%
Q4 24
1.2%
Q3 24
0.5%
Q2 24
0.6%
Q1 24
0.4%
Cash Conversion
BCAL
BCAL
IIPR
IIPR
Q4 25
3.49×
6.22×
Q3 25
1.02×
1.56×
Q2 25
0.95×
1.86×
Q1 25
0.41×
1.75×
Q4 24
3.00×
6.46×
Q3 24
1.61×
Q2 24
1.63×
1.53×
Q1 24
1.63×
1.82×

Financial Flow Comparison

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

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