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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
BRANDYWINE REALTY TRUST is the larger business by last-quarter revenue ($127.0M vs $85.1M, roughly 1.5× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -38.4%, a 61.2% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 4.5%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% 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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
BDN vs FDMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $85.1M |
| Net Profit | $-48.8M | $19.4M |
| Gross Margin | — | — |
| Operating Margin | 1.2% | 17.3% |
| Net Margin | -38.4% | 22.8% |
| Revenue YoY | 4.5% | 8508900.0% |
| Net Profit YoY | -80.4% | 139.1% |
| EPS (diluted) | $-0.28 | $0.43 |
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 | $85.1M | ||
| Q3 25 | $121.4M | $90.0K | ||
| Q2 25 | $120.6M | $15.0K | ||
| Q1 25 | $121.5M | $14.0K | ||
| Q4 24 | $121.9M | $1.0K | ||
| Q3 24 | $131.8M | $3.0K | ||
| Q2 24 | $125.3M | $5.0K |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $19.4M | ||
| Q3 25 | $-25.9M | $-56.9M | ||
| Q2 25 | $-88.7M | $-54.7M | ||
| Q1 25 | $-27.0M | $-48.0M | ||
| Q4 24 | $-44.5M | — | ||
| Q3 24 | $-165.2M | $-43.8M | ||
| Q2 24 | $30.2M | $-35.0M |
| 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% | 17.3% | ||
| Q3 25 | 20.8% | -67983.3% | ||
| Q2 25 | -34.3% | -396373.3% | ||
| Q1 25 | 12.5% | -383007.1% | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -7.2% | -1704400.0% | ||
| Q2 24 | 15.5% | -849120.0% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 22.8% | ||
| Q3 25 | -21.3% | -63195.6% | ||
| Q2 25 | -73.5% | -364386.7% | ||
| Q1 25 | -22.2% | -342657.1% | ||
| Q4 24 | -36.5% | — | ||
| Q3 24 | -125.4% | -1461433.3% | ||
| Q2 24 | 24.1% | -699060.0% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $0.43 | ||
| Q3 25 | $-0.15 | $-1.01 | ||
| Q2 25 | $-0.51 | $-0.98 | ||
| Q1 25 | $-0.16 | $-0.86 | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.96 | $-0.79 | ||
| Q2 24 | $0.17 | $-0.63 |
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 | $402.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $505.7M |
| Total Assets | $3.6B | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $402.7M | ||
| Q3 25 | $75.5M | $305.1M | ||
| Q2 25 | $122.6M | $293.2M | ||
| Q1 25 | $29.4M | $321.4M | ||
| Q4 24 | $90.2M | $424.9M | ||
| Q3 24 | $36.5M | $501.9M | ||
| Q2 24 | $30.4M | $541.9M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $505.7M | ||
| Q3 25 | $841.5M | $369.0M | ||
| Q2 25 | $879.8M | $420.9M | ||
| Q1 25 | $993.6M | $469.7M | ||
| Q4 24 | $1.0B | $510.6M | ||
| Q3 24 | $1.1B | $552.9M | ||
| Q2 24 | $1.3B | $588.3M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $566.7M | ||
| Q3 25 | $3.3B | $424.0M | ||
| Q2 25 | $3.4B | $473.6M | ||
| Q1 25 | $3.4B | $515.7M | ||
| Q4 24 | $3.5B | $560.4M | ||
| Q3 24 | $3.6B | $604.0M | ||
| Q2 24 | $3.8B | $620.1M |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.63× | — | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | 2.06× | — | ||
| Q2 24 | 1.73× | — |
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 | — | $28.6M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 33.5% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $28.6M | ||
| Q3 25 | $47.5M | $-46.5M | ||
| Q2 25 | $34.4M | $-43.4M | ||
| Q1 25 | $6.3M | $-47.8M | ||
| Q4 24 | $181.1M | $-134.6M | ||
| Q3 24 | $52.2M | $-29.4M | ||
| Q2 24 | $48.2M | $-30.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $28.5M | ||
| Q3 25 | — | $-46.6M | ||
| Q2 25 | — | $-43.4M | ||
| Q1 25 | — | $-48.4M | ||
| Q4 24 | — | $-138.4M | ||
| Q3 24 | — | $-31.2M | ||
| Q2 24 | — | $-30.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 33.5% | ||
| Q3 25 | — | -51765.6% | ||
| Q2 25 | — | -289620.0% | ||
| Q1 25 | — | -345635.7% | ||
| Q4 24 | — | -13837100.0% | ||
| Q3 24 | — | -1038966.7% | ||
| Q2 24 | — | -611840.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 101.1% | ||
| Q2 25 | — | 440.0% | ||
| Q1 25 | — | 4507.1% | ||
| Q4 24 | — | 378600.0% | ||
| Q3 24 | — | 59266.7% | ||
| Q2 24 | — | 6980.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.60× | — |
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% |
FDMT
Segment breakdown not available.
