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Side-by-side financial comparison of Burke & Herbert Financial Services Corp. (BHRB) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

Burke & Herbert Financial Services Corp. is the larger business by last-quarter revenue ($86.5M vs $66.7M, roughly 1.3× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 34.9%, a 12.8% gap on every dollar of revenue. On growth, Burke & Herbert Financial Services Corp. posted the faster year-over-year revenue change (4.9% vs -13.1%). Over the past eight quarters, Burke & Herbert Financial Services Corp.'s revenue compounded faster (81.1% CAGR vs -6.0%).

Burke & Herbert Financial Services Corp is a U.S.-based regional financial holding company, offering personal and commercial banking, wealth management, residential mortgage lending, and small business financing services. Its core market covers Virginia and adjacent Mid-Atlantic regions, serving retail consumers, SMEs, and high-net-worth clients.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

BHRB vs IIPR — Head-to-Head

Bigger by revenue
BHRB
BHRB
1.3× larger
BHRB
$86.5M
$66.7M
IIPR
Growing faster (revenue YoY)
BHRB
BHRB
+18.0% gap
BHRB
4.9%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
12.8% more per $
IIPR
47.8%
34.9%
BHRB
Faster 2-yr revenue CAGR
BHRB
BHRB
Annualised
BHRB
81.1%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
BHRB
BHRB
IIPR
IIPR
Revenue
$86.5M
$66.7M
Net Profit
$30.2M
$31.8M
Gross Margin
Operating Margin
43.8%
47.8%
Net Margin
34.9%
47.8%
Revenue YoY
4.9%
-13.1%
Net Profit YoY
52.8%
-20.4%
EPS (diluted)
$1.98
$1.07

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.

Revenue
BHRB
BHRB
IIPR
IIPR
Q4 25
$86.5M
$66.7M
Q3 25
$85.4M
$64.7M
Q2 25
$87.1M
$62.9M
Q1 25
$83.0M
$71.7M
Q4 24
$82.5M
$76.7M
Q3 24
$83.8M
$76.5M
Q2 24
$69.3M
$79.8M
Q1 24
$26.4M
$75.5M
Net Profit
BHRB
BHRB
IIPR
IIPR
Q4 25
$30.2M
$31.8M
Q3 25
$30.0M
$29.3M
Q2 25
$29.9M
$26.0M
Q1 25
$27.2M
$31.1M
Q4 24
$19.8M
$40.0M
Q3 24
$27.6M
$40.2M
Q2 24
$-16.9M
$42.0M
Q1 24
$5.2M
$39.4M
Operating Margin
BHRB
BHRB
IIPR
IIPR
Q4 25
43.8%
47.8%
Q3 25
43.3%
45.5%
Q2 25
42.7%
45.9%
Q1 25
39.6%
47.4%
Q4 24
24.6%
54.7%
Q3 24
39.2%
54.8%
Q2 24
-27.5%
53.1%
Q1 24
22.3%
55.7%
Net Margin
BHRB
BHRB
IIPR
IIPR
Q4 25
34.9%
47.8%
Q3 25
35.1%
45.3%
Q2 25
34.3%
41.4%
Q1 25
32.8%
43.3%
Q4 24
24.0%
52.2%
Q3 24
33.0%
52.6%
Q2 24
-24.4%
52.6%
Q1 24
19.8%
52.3%
EPS (diluted)
BHRB
BHRB
IIPR
IIPR
Q4 25
$1.98
$1.07
Q3 25
$1.97
$0.97
Q2 25
$1.97
$0.86
Q1 25
$1.80
$1.03
Q4 24
$1.72
$1.35
Q3 24
$1.82
$1.37
Q2 24
$-1.41
$1.44
Q1 24
$0.69
$1.36

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BHRB
BHRB
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$47.6M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$854.6M
$1.8B
Total Assets
$7.9B
$2.4B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BHRB
BHRB
IIPR
IIPR
Q4 25
$47.6M
Q3 25
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$172.4M
Q2 24
$160.9M
Q1 24
$173.5M
Total Debt
BHRB
BHRB
IIPR
IIPR
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
BHRB
BHRB
IIPR
IIPR
Q4 25
$854.6M
$1.8B
Q3 25
$822.2M
$1.9B
Q2 25
$780.0M
$1.9B
Q1 25
$758.0M
$1.9B
Q4 24
$730.2M
$1.9B
Q3 24
$738.1M
$1.9B
Q2 24
$693.1M
$1.9B
Q1 24
$319.3M
$2.0B
Total Assets
BHRB
BHRB
IIPR
IIPR
Q4 25
$7.9B
$2.4B
Q3 25
$7.9B
$2.3B
Q2 25
$8.1B
$2.3B
Q1 25
$7.8B
$2.4B
Q4 24
$7.8B
$2.4B
Q3 24
$7.9B
$2.4B
Q2 24
$7.8B
$2.4B
Q1 24
$3.7B
$2.4B
Debt / Equity
BHRB
BHRB
IIPR
IIPR
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BHRB
BHRB
IIPR
IIPR
Operating Cash FlowLast quarter
$107.9M
$198.2M
Free Cash FlowOCF − Capex
$96.2M
FCF MarginFCF / Revenue
111.2%
Capex IntensityCapex / Revenue
13.5%
Cash ConversionOCF / Net Profit
3.57×
6.22×
TTM Free Cash FlowTrailing 4 quarters
$164.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BHRB
BHRB
IIPR
IIPR
Q4 25
$107.9M
$198.2M
Q3 25
$39.3M
$45.6M
Q2 25
$41.0K
$48.4M
Q1 25
$37.6M
$54.2M
Q4 24
$85.8M
$258.4M
Q3 24
$47.8M
$64.9M
Q2 24
$-46.0M
$64.2M
Q1 24
$7.1M
$71.6M
Free Cash Flow
BHRB
BHRB
IIPR
IIPR
Q4 25
$96.2M
Q3 25
$35.4M
Q2 25
$-3.4M
Q1 25
$35.9M
Q4 24
$81.2M
Q3 24
$46.0M
Q2 24
$-47.0M
Q1 24
$5.6M
FCF Margin
BHRB
BHRB
IIPR
IIPR
Q4 25
111.2%
Q3 25
41.5%
Q2 25
-3.9%
Q1 25
43.2%
Q4 24
98.5%
Q3 24
55.0%
Q2 24
-67.8%
Q1 24
21.2%
Capex Intensity
BHRB
BHRB
IIPR
IIPR
Q4 25
13.5%
Q3 25
4.5%
Q2 25
3.9%
Q1 25
2.1%
Q4 24
5.5%
Q3 24
2.1%
Q2 24
1.5%
Q1 24
5.7%
Cash Conversion
BHRB
BHRB
IIPR
IIPR
Q4 25
3.57×
6.22×
Q3 25
1.31×
1.56×
Q2 25
0.00×
1.86×
Q1 25
1.38×
1.75×
Q4 24
4.33×
6.46×
Q3 24
1.73×
1.61×
Q2 24
1.53×
Q1 24
1.36×
1.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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