vs
Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and IMAX CORP (IMAX). Click either name above to swap in a different company.
BRANDYWINE REALTY TRUST is the larger business by last-quarter revenue ($127.0M vs $125.2M, roughly 1.0× IMAX CORP). IMAX CORP runs the higher net margin — 0.5% vs -38.4%, a 38.9% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 4.5%). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% 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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
BDN vs IMAX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $125.2M |
| Net Profit | $-48.8M | $637.0K |
| Gross Margin | — | 57.6% |
| Operating Margin | 1.2% | 19.3% |
| Net Margin | -38.4% | 0.5% |
| Revenue YoY | 4.5% | 35.1% |
| Net Profit YoY | -80.4% | -88.0% |
| EPS (diluted) | $-0.28 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $121.4M | $106.7M | ||
| Q2 25 | $120.6M | $91.7M | ||
| Q1 25 | $121.5M | $86.7M | ||
| Q4 24 | $121.9M | $92.7M | ||
| Q3 24 | $131.8M | $91.5M | ||
| Q2 24 | $125.3M | $89.0M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $637.0K | ||
| Q3 25 | $-25.9M | $20.7M | ||
| Q2 25 | $-88.7M | $11.3M | ||
| Q1 25 | $-27.0M | $2.3M | ||
| Q4 24 | $-44.5M | $5.3M | ||
| Q3 24 | $-165.2M | $13.9M | ||
| Q2 24 | $30.2M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | 57.6% | ||
| Q3 25 | 62.6% | 63.1% | ||
| Q2 25 | 62.4% | 58.5% | ||
| Q1 25 | 60.8% | 61.4% | ||
| Q4 24 | 61.2% | 52.2% | ||
| Q3 24 | 64.9% | 55.8% | ||
| Q2 24 | 63.1% | 49.4% |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | 19.3% | ||
| Q3 25 | 20.8% | 27.2% | ||
| Q2 25 | -34.3% | 15.6% | ||
| Q1 25 | 12.5% | 19.3% | ||
| Q4 24 | 18.0% | 10.3% | ||
| Q3 24 | -7.2% | 21.2% | ||
| Q2 24 | 15.5% | 3.2% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 0.5% | ||
| Q3 25 | -21.3% | 19.4% | ||
| Q2 25 | -73.5% | 12.3% | ||
| Q1 25 | -22.2% | 2.7% | ||
| Q4 24 | -36.5% | 5.7% | ||
| Q3 24 | -125.4% | 15.2% | ||
| Q2 24 | 24.1% | 4.0% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $0.02 | ||
| Q3 25 | $-0.15 | $0.37 | ||
| Q2 25 | $-0.51 | $0.20 | ||
| Q1 25 | $-0.16 | $0.04 | ||
| Q4 24 | $-0.25 | $0.09 | ||
| Q3 24 | $-0.96 | $0.26 | ||
| 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 | $151.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $337.9M |
| Total Assets | $3.6B | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $151.2M | ||
| Q3 25 | $75.5M | $143.1M | ||
| Q2 25 | $122.6M | $109.3M | ||
| Q1 25 | $29.4M | $97.1M | ||
| Q4 24 | $90.2M | $100.6M | ||
| Q3 24 | $36.5M | $104.5M | ||
| Q2 24 | $30.4M | $91.6M |
| 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 | $337.9M | ||
| Q3 25 | $841.5M | $349.5M | ||
| Q2 25 | $879.8M | $320.4M | ||
| Q1 25 | $993.6M | $299.5M | ||
| Q4 24 | $1.0B | $299.5M | ||
| Q3 24 | $1.1B | $289.4M | ||
| Q2 24 | $1.3B | $267.2M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $894.0M | ||
| Q3 25 | $3.3B | $889.6M | ||
| Q2 25 | $3.4B | $868.6M | ||
| Q1 25 | $3.4B | $848.3M | ||
| Q4 24 | $3.5B | $830.4M | ||
| Q3 24 | $3.6B | $847.6M | ||
| Q2 24 | $3.8B | $827.4M |
| 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 | — | $29.4M |
| Free Cash FlowOCF − Capex | — | $28.0M |
| FCF MarginFCF / Revenue | — | 22.3% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $29.4M | ||
| Q3 25 | $47.5M | $67.5M | ||
| Q2 25 | $34.4M | $23.2M | ||
| Q1 25 | $6.3M | $7.0M | ||
| Q4 24 | $181.1M | $11.5M | ||
| Q3 24 | $52.2M | $35.3M | ||
| Q2 24 | $48.2M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $28.0M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $20.9M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | — | $34.2M | ||
| Q2 24 | — | $33.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | 60.7% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 37.3% | ||
| Q2 24 | — | 37.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | 1.60× | 9.78× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
