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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Emerald Holding, Inc. (EEX). Click either name above to swap in a different company.
Emerald Holding, Inc. is the larger business by last-quarter revenue ($132.7M vs $75.1M, roughly 1.8× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -22.8%, a 31.4% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 10.6%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs -0.3%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
BFS vs EEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $132.7M |
| Net Profit | $6.5M | $-30.2M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | -11.8% |
| Net Margin | 8.7% | -22.8% |
| Revenue YoY | 10.6% | 24.3% |
| Net Profit YoY | -19.6% | -692.2% |
| EPS (diluted) | $0.15 | $-0.15 |
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.
| Q4 25 | $75.1M | $132.7M | ||
| Q3 25 | $72.0M | $77.5M | ||
| Q2 25 | $70.8M | $105.5M | ||
| Q1 25 | $71.9M | $147.7M | ||
| Q4 24 | $67.9M | $106.8M | ||
| Q3 24 | $67.3M | $72.6M | ||
| Q2 24 | $66.9M | $86.0M | ||
| Q1 24 | $66.7M | $133.4M |
| Q4 25 | $6.5M | $-30.2M | ||
| Q3 25 | $10.5M | $-14.4M | ||
| Q2 25 | $10.7M | $-1.4M | ||
| Q1 25 | $9.8M | $15.3M | ||
| Q4 24 | $8.1M | $5.1M | ||
| Q3 24 | $14.5M | $-11.1M | ||
| Q2 24 | $14.4M | $-2.8M | ||
| Q1 24 | $13.6M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | 65.4% | -11.8% | ||
| Q3 25 | 69.1% | -10.1% | ||
| Q2 25 | 68.7% | 9.7% | ||
| Q1 25 | 66.5% | 24.2% | ||
| Q4 24 | 82.9% | 19.5% | ||
| Q3 24 | 72.8% | -6.5% | ||
| Q2 24 | 75.0% | 7.4% | ||
| Q1 24 | 72.4% | 18.2% |
| Q4 25 | 8.7% | -22.8% | ||
| Q3 25 | 14.6% | -18.6% | ||
| Q2 25 | 15.1% | -1.3% | ||
| Q1 25 | 13.6% | 10.4% | ||
| Q4 24 | 11.9% | 4.8% | ||
| Q3 24 | 21.5% | -15.3% | ||
| Q2 24 | 21.6% | -3.3% | ||
| Q1 24 | 20.4% | 8.2% |
| Q4 25 | $0.15 | $-0.15 | ||
| Q3 25 | $0.32 | $-0.07 | ||
| Q2 25 | $0.33 | $-0.01 | ||
| Q1 25 | $0.29 | $0.08 | ||
| Q4 24 | $0.22 | $0.01 | ||
| Q3 24 | $0.48 | $-0.05 | ||
| Q2 24 | $0.48 | $-0.03 | ||
| Q1 24 | $0.45 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $100.9M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $338.8M |
| Total Assets | $2.2B | $1.2B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $100.9M | ||
| Q3 25 | $11.8M | $95.4M | ||
| Q2 25 | $5.3M | $156.4M | ||
| Q1 25 | $6.5M | $276.8M | ||
| Q4 24 | $10.3M | $194.8M | ||
| Q3 24 | $7.2M | $188.9M | ||
| Q2 24 | $6.9M | $193.2M | ||
| Q1 24 | $7.1M | $186.8M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $455.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $307.8M | $338.8M | ||
| Q3 25 | $316.6M | $369.5M | ||
| Q2 25 | $322.4M | $389.4M | ||
| Q1 25 | $328.4M | $392.1M | ||
| Q4 24 | $335.8M | $385.9M | ||
| Q3 24 | $341.8M | $391.1M | ||
| Q2 24 | $345.7M | $407.6M | ||
| Q1 24 | $347.1M | $-90.7M |
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.1B | $1.1B | ||
| Q1 24 | $2.0B | $1.1B |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
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 | $99.8M | $12.3M |
| Free Cash FlowOCF − Capex | — | $11.7M |
| FCF MarginFCF / Revenue | — | 8.8% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $12.3M | ||
| Q3 25 | $20.6M | $1.8M | ||
| Q2 25 | $26.6M | $15.9M | ||
| Q1 25 | $30.4M | $12.6M | ||
| Q4 24 | $121.2M | $20.6M | ||
| Q3 24 | $26.5M | $9.1M | ||
| Q2 24 | $32.1M | $9.8M | ||
| Q1 24 | $33.8M | $7.3M |
| Q4 25 | — | $11.7M | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $15.8M | ||
| Q1 25 | — | $12.4M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $-28.3M | $9.0M | ||
| Q2 24 | $-12.5M | $9.6M | ||
| Q1 24 | $-11.7M | $7.0M |
| Q4 25 | — | 8.8% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | -42.1% | 12.4% | ||
| Q2 24 | -18.7% | 11.2% | ||
| Q1 24 | -17.6% | 5.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 81.5% | 0.1% | ||
| Q2 24 | 66.7% | 0.2% | ||
| Q1 24 | 68.3% | 0.2% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | 0.82× | ||
| Q4 24 | 14.98× | 4.04× | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | 0.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
