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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and CareTrust REIT, Inc. (CTRE). Click either name above to swap in a different company.
CareTrust REIT, Inc. is the larger business by last-quarter revenue ($134.9M vs $127.0M, roughly 1.1× BRANDYWINE REALTY TRUST). CareTrust REIT, Inc. runs the higher net margin — 82.5% vs -38.4%, a 121.0% gap on every dollar of revenue. On growth, CareTrust REIT, Inc. posted the faster year-over-year revenue change (55.1% vs 4.5%). Over the past eight quarters, CareTrust REIT, Inc.'s revenue compounded faster (46.2% CAGR vs 0.7%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
CareTrust REIT, Inc.CTREEarnings & Financial Report
Target Healthcare REIT is a British property investment company which invests in healthcare properties and holds a large portfolio of care homes. It is structured as a real estate investment trust (REIT) and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
BDN vs CTRE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $134.9M |
| Net Profit | $-48.8M | $111.3M |
| Gross Margin | — | — |
| Operating Margin | 1.2% | — |
| Net Margin | -38.4% | 82.5% |
| Revenue YoY | 4.5% | 55.1% |
| Net Profit YoY | -80.4% | 113.5% |
| EPS (diluted) | $-0.28 | $0.52 |
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 | $127.0M | — | ||
| Q4 25 | $121.0M | $134.9M | ||
| Q3 25 | $121.4M | $132.4M | ||
| Q2 25 | $120.6M | $112.5M | ||
| Q1 25 | $121.5M | $96.6M | ||
| Q4 24 | $121.9M | $86.9M | ||
| Q3 24 | $131.8M | $77.4M | ||
| Q2 24 | $125.3M | $68.9M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $111.3M | ||
| Q3 25 | $-25.9M | $74.9M | ||
| Q2 25 | $-88.7M | $68.5M | ||
| Q1 25 | $-27.0M | $65.8M | ||
| Q4 24 | $-44.5M | $52.1M | ||
| Q3 24 | $-165.2M | $33.4M | ||
| Q2 24 | $30.2M | $10.8M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.4% | — | ||
| Q1 25 | 60.8% | — | ||
| Q4 24 | 61.2% | — | ||
| Q3 24 | 64.9% | — | ||
| Q2 24 | 63.1% | — |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | — | ||
| Q3 25 | 20.8% | 58.1% | ||
| Q2 25 | -34.3% | 61.3% | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -7.2% | 43.0% | ||
| Q2 24 | 15.5% | 15.1% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 82.5% | ||
| Q3 25 | -21.3% | 56.6% | ||
| Q2 25 | -73.5% | 60.9% | ||
| Q1 25 | -22.2% | 68.1% | ||
| Q4 24 | -36.5% | 60.0% | ||
| Q3 24 | -125.4% | 43.2% | ||
| Q2 24 | 24.1% | 15.6% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $0.52 | ||
| Q3 25 | $-0.15 | $0.35 | ||
| Q2 25 | $-0.51 | $0.35 | ||
| Q1 25 | $-0.16 | $0.35 | ||
| Q4 24 | $-0.25 | $0.30 | ||
| Q3 24 | $-0.96 | $0.21 | ||
| Q2 24 | $0.17 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $198.0M |
| Total DebtLower is stronger | — | $894.2M |
| Stockholders' EquityBook value | — | $4.0B |
| Total Assets | $3.6B | $5.1B |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $198.0M | ||
| Q3 25 | $75.5M | $712.5M | ||
| Q2 25 | $122.6M | $306.1M | ||
| Q1 25 | $29.4M | $26.5M | ||
| Q4 24 | $90.2M | $213.8M | ||
| Q3 24 | $36.5M | $377.1M | ||
| Q2 24 | $30.4M | $495.1M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $894.2M | ||
| Q3 25 | $2.3B | $893.8M | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $2.2B | $822.1M | ||
| Q4 24 | $2.2B | $396.9M | ||
| Q3 24 | $2.3B | $396.7M | ||
| Q2 24 | $2.2B | $671.1M |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $4.0B | ||
| Q3 25 | $841.5M | $4.0B | ||
| Q2 25 | $879.8M | $3.3B | ||
| Q1 25 | $993.6M | $2.9B | ||
| Q4 24 | $1.0B | $2.9B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $1.3B | $1.9B |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $5.1B | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.4B | $4.7B | ||
| Q1 25 | $3.4B | $3.9B | ||
| Q4 24 | $3.5B | $3.4B | ||
| Q3 24 | $3.6B | $2.9B | ||
| Q2 24 | $3.8B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | 0.22× | ||
| Q3 25 | 2.70× | 0.22× | ||
| Q2 25 | 2.63× | 0.35× | ||
| Q1 25 | 2.23× | 0.28× | ||
| Q4 24 | 2.13× | 0.14× | ||
| Q3 24 | 2.06× | 0.16× | ||
| Q2 24 | 1.73× | 0.35× |
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 | — | $394.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.54× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $394.0M | ||
| Q3 25 | $47.5M | $100.9M | ||
| Q2 25 | $34.4M | $100.8M | ||
| Q1 25 | $6.3M | $71.4M | ||
| Q4 24 | $181.1M | $244.3M | ||
| Q3 24 | $52.2M | $67.2M | ||
| Q2 24 | $48.2M | $53.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.54× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 4.68× | ||
| Q3 24 | — | 2.01× | ||
| Q2 24 | 1.60× | 4.92× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
CTRE
Segment breakdown not available.
