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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $75.1M, roughly 1.1× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs 1.4%, a 7.3% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs -5.8%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs 1.8%).
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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
BFS vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $86.0M |
| Net Profit | $6.5M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | 65.4% | -3.1% |
| Net Margin | 8.7% | 1.4% |
| Revenue YoY | 10.6% | -5.8% |
| Net Profit YoY | -19.6% | -68.5% |
| EPS (diluted) | $0.15 | $0.03 |
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 | $86.0M | ||
| Q3 25 | $72.0M | $92.8M | ||
| Q2 25 | $70.8M | $85.8M | ||
| Q1 25 | $71.9M | $65.6M | ||
| Q4 24 | $67.9M | $91.4M | ||
| Q3 24 | $67.3M | $63.2M | ||
| Q2 24 | $66.9M | $73.8M | ||
| Q1 24 | $66.7M | $83.1M |
| Q4 25 | $6.5M | $1.2M | ||
| Q3 25 | $10.5M | $3.0M | ||
| Q2 25 | $10.7M | $21.4M | ||
| Q1 25 | $9.8M | $-24.2M | ||
| Q4 24 | $8.1M | $3.7M | ||
| Q3 24 | $14.5M | $-98.0K | ||
| Q2 24 | $14.4M | $-430.0K | ||
| Q1 24 | $13.6M | $-216.0K |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 73.6% | 10.3% | ||
| Q2 24 | 74.2% | 17.7% | ||
| Q1 24 | 72.8% | 14.2% |
| Q4 25 | 65.4% | -3.1% | ||
| Q3 25 | 69.1% | 5.8% | ||
| Q2 25 | 68.7% | -0.1% | ||
| Q1 25 | 66.5% | -10.8% | ||
| Q4 24 | 82.9% | 3.9% | ||
| Q3 24 | 72.8% | -7.8% | ||
| Q2 24 | 75.0% | 4.8% | ||
| Q1 24 | 72.4% | 0.9% |
| Q4 25 | 8.7% | 1.4% | ||
| Q3 25 | 14.6% | 3.2% | ||
| Q2 25 | 15.1% | 24.9% | ||
| Q1 25 | 13.6% | -37.0% | ||
| Q4 24 | 11.9% | 4.1% | ||
| Q3 24 | 21.5% | -0.2% | ||
| Q2 24 | 21.6% | -0.6% | ||
| Q1 24 | 20.4% | -0.3% |
| Q4 25 | $0.15 | $0.03 | ||
| Q3 25 | $0.32 | $0.08 | ||
| Q2 25 | $0.33 | $0.54 | ||
| Q1 25 | $0.29 | $-0.62 | ||
| Q4 24 | $0.22 | $0.10 | ||
| Q3 24 | $0.48 | $0.00 | ||
| Q2 24 | $0.48 | $-0.01 | ||
| Q1 24 | $0.45 | $-0.01 |
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 | $22.6M |
| Total DebtLower is stronger | $468.4M | $15.0M |
| Stockholders' EquityBook value | $307.8M | $239.7M |
| Total Assets | $2.2B | $340.0M |
| Debt / EquityLower = less leverage | 1.52× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $22.6M | ||
| Q3 25 | $11.8M | $5.1M | ||
| Q2 25 | $5.3M | $4.3M | ||
| Q1 25 | $6.5M | $5.1M | ||
| Q4 24 | $10.3M | $1.6M | ||
| Q3 24 | $7.2M | $7.2M | ||
| Q2 24 | $6.9M | $6.3M | ||
| Q1 24 | $7.1M | $4.6M |
| Q4 25 | $468.4M | $15.0M | ||
| Q3 25 | $1.6B | $14.3M | ||
| Q2 25 | $1.6B | $23.5M | ||
| Q1 25 | $1.5B | $13.7M | ||
| Q4 24 | $455.8M | $14.7M | ||
| Q3 24 | $1.5B | $15.7M | ||
| Q2 24 | $1.4B | $17.1M | ||
| Q1 24 | $1.4B | $25.5M |
| Q4 25 | $307.8M | $239.7M | ||
| Q3 25 | $316.6M | $239.9M | ||
| Q2 25 | $322.4M | $240.5M | ||
| Q1 25 | $328.4M | $219.9M | ||
| Q4 24 | $335.8M | $243.8M | ||
| Q3 24 | $341.8M | $243.6M | ||
| Q2 24 | $345.7M | $242.9M | ||
| Q1 24 | $347.1M | $242.5M |
| Q4 25 | $2.2B | $340.0M | ||
| Q3 25 | $2.2B | $343.1M | ||
| Q2 25 | $2.1B | $345.8M | ||
| Q1 25 | $2.1B | $326.9M | ||
| Q4 24 | $2.1B | $341.5M | ||
| Q3 24 | $2.1B | $335.8M | ||
| Q2 24 | $2.1B | $341.8M | ||
| Q1 24 | $2.0B | $349.3M |
| Q4 25 | 1.52× | 0.06× | ||
| Q3 25 | 5.02× | 0.06× | ||
| Q2 25 | 4.85× | 0.10× | ||
| Q1 25 | 4.70× | 0.06× | ||
| Q4 24 | 1.36× | 0.06× | ||
| Q3 24 | 4.37× | 0.06× | ||
| Q2 24 | 4.17× | 0.07× | ||
| Q1 24 | 4.06× | 0.11× |
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 | $22.4M |
| Free Cash FlowOCF − Capex | — | $20.4M |
| FCF MarginFCF / Revenue | — | 23.7% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | 15.35× | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $22.4M | ||
| Q3 25 | $20.6M | $18.2M | ||
| Q2 25 | $26.6M | $-5.1M | ||
| Q1 25 | $30.4M | $8.7M | ||
| Q4 24 | $121.2M | $1.0M | ||
| Q3 24 | $26.5M | $5.8M | ||
| Q2 24 | $32.1M | $14.9M | ||
| Q1 24 | $33.8M | $-3.9M |
| Q4 25 | — | $20.4M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | — | $-7.8M | ||
| Q1 25 | — | $5.2M | ||
| Q4 24 | — | $-840.0K | ||
| Q3 24 | $-28.3M | $3.7M | ||
| Q2 24 | $-12.5M | $13.5M | ||
| Q1 24 | $-11.7M | $-5.5M |
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 15.9% | ||
| Q2 25 | — | -9.1% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | — | -0.9% | ||
| Q3 24 | -42.1% | 5.8% | ||
| Q2 24 | -18.7% | 18.3% | ||
| Q1 24 | -17.6% | -6.6% |
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | 81.5% | 3.4% | ||
| Q2 24 | 66.7% | 1.8% | ||
| Q1 24 | 68.3% | 2.0% |
| Q4 25 | 15.35× | 18.99× | ||
| Q3 25 | 1.97× | 6.05× | ||
| Q2 25 | 2.48× | -0.24× | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | 0.28× | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
