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Side-by-side financial comparison of Blue Bird Corp (BLBD) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
Blue Bird Corp is the larger business by last-quarter revenue ($333.1M vs $187.0M, roughly 1.8× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 9.2%, a 3.0% gap on every dollar of revenue. On growth, Blue Bird Corp posted the faster year-over-year revenue change (6.1% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $31.1M). Over the past eight quarters, Blue Bird Corp's revenue compounded faster (-1.9% CAGR vs -2.4%).
The Blue Bird Corporation is an American bus manufacturer. Headquartered in Fort Valley, Georgia, the company was best known for its production of school buses. The company has also manufactured a wide variety of other bus types, including transit buses, motorhomes, and specialty vehicles such as mobile libraries and mobile police command centers.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
BLBD vs NSA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $333.1M | $187.0M |
| Net Profit | $30.8M | $22.9M |
| Gross Margin | 21.4% | 72.5% |
| Operating Margin | 11.3% | 20.2% |
| Net Margin | 9.2% | 12.2% |
| Revenue YoY | 6.1% | -1.6% |
| Net Profit YoY | 7.1% | 36.8% |
| EPS (diluted) | $0.94 | $0.23 |
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 | $333.1M | $187.0M | ||
| Q3 25 | $409.4M | $188.7M | ||
| Q2 25 | $398.0M | $188.8M | ||
| Q1 25 | $358.9M | $188.4M | ||
| Q4 24 | $313.9M | $190.1M | ||
| Q3 24 | $350.2M | $193.6M | ||
| Q2 24 | $333.4M | $190.4M | ||
| Q1 24 | $345.9M | $196.1M |
| Q4 25 | $30.8M | $22.9M | ||
| Q3 25 | $36.5M | $18.4M | ||
| Q2 25 | $36.5M | $19.5M | ||
| Q1 25 | $26.0M | $13.0M | ||
| Q4 24 | $28.7M | $16.7M | ||
| Q3 24 | $24.7M | $18.7M | ||
| Q2 24 | $28.7M | $17.1M | ||
| Q1 24 | $26.0M | $59.0M |
| Q4 25 | 21.4% | 72.5% | ||
| Q3 25 | 21.1% | 70.7% | ||
| Q2 25 | 21.6% | 70.5% | ||
| Q1 25 | 19.7% | 70.7% | ||
| Q4 24 | 19.2% | 72.5% | ||
| Q3 24 | 17.0% | 72.8% | ||
| Q2 24 | 20.8% | 72.6% | ||
| Q1 24 | 18.4% | 72.1% |
| Q4 25 | 11.3% | 20.2% | ||
| Q3 25 | 12.3% | 15.8% | ||
| Q2 25 | 12.6% | 16.5% | ||
| Q1 25 | 9.4% | 11.0% | ||
| Q4 24 | 10.5% | 14.5% | ||
| Q3 24 | 7.3% | 15.8% | ||
| Q2 24 | 11.9% | 17.2% | ||
| Q1 24 | 10.4% | 48.9% |
| Q4 25 | 9.2% | 12.2% | ||
| Q3 25 | 8.9% | 9.8% | ||
| Q2 25 | 9.2% | 10.3% | ||
| Q1 25 | 7.3% | 6.9% | ||
| Q4 24 | 9.2% | 8.8% | ||
| Q3 24 | 7.0% | 9.7% | ||
| Q2 24 | 8.6% | 9.0% | ||
| Q1 24 | 7.5% | 30.1% |
| Q4 25 | $0.94 | $0.23 | ||
| Q3 25 | $1.11 | $0.17 | ||
| Q2 25 | $1.12 | $0.19 | ||
| Q1 25 | $0.79 | $0.10 | ||
| Q4 24 | $0.86 | $0.19 | ||
| Q3 24 | $0.71 | $0.18 | ||
| Q2 24 | $0.85 | $0.16 | ||
| Q1 24 | $0.79 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $241.7M | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $271.4M | $946.0M |
| Total Assets | $642.3M | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.7M | $23.3M | ||
| Q3 25 | $229.3M | $26.3M | ||
| Q2 25 | $173.1M | $26.1M | ||
| Q1 25 | $130.7M | $19.3M | ||
| Q4 24 | $136.1M | $50.4M | ||
| Q3 24 | $127.7M | $69.9M | ||
| Q2 24 | $88.4M | $59.0M | ||
| Q1 24 | $93.1M | $64.2M |
| Q4 25 | $271.4M | $946.0M | ||
| Q3 25 | $255.4M | $973.1M | ||
| Q2 25 | $221.8M | $1.0B | ||
| Q1 25 | $190.4M | $1.0B | ||
| Q4 24 | $179.7M | $1.1B | ||
| Q3 24 | $159.6M | $986.9M | ||
| Q2 24 | $137.3M | $1.2B | ||
| Q1 24 | $105.8M | $1.3B |
| Q4 25 | $642.3M | $5.1B | ||
| Q3 25 | $625.3M | $5.1B | ||
| Q2 25 | $575.5M | $5.2B | ||
| Q1 25 | $543.7M | $5.3B | ||
| Q4 24 | $535.2M | $5.4B | ||
| Q3 24 | $524.9M | $5.4B | ||
| Q2 24 | $468.1M | $5.3B | ||
| Q1 24 | $456.5M | $5.4B |
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 | $36.6M | $338.5M |
| Free Cash FlowOCF − Capex | $31.1M | $299.8M |
| FCF MarginFCF / Revenue | 9.3% | 160.3% |
| Capex IntensityCapex / Revenue | 1.6% | 20.7% |
| Cash ConversionOCF / Net Profit | 1.19× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $162.6M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.6M | $338.5M | ||
| Q3 25 | $65.1M | $100.2M | ||
| Q2 25 | $56.9M | $79.9M | ||
| Q1 25 | $27.8M | $85.6M | ||
| Q4 24 | $26.4M | $363.1M | ||
| Q3 24 | $55.4M | $105.7M | ||
| Q2 24 | $989.0K | $83.2M | ||
| Q1 24 | $54.6M | $94.0M |
| Q4 25 | $31.1M | $299.8M | ||
| Q3 25 | $60.5M | $88.0M | ||
| Q2 25 | $52.3M | $73.8M | ||
| Q1 25 | $18.7M | $79.9M | ||
| Q4 24 | $21.8M | $344.4M | ||
| Q3 24 | $50.2M | $101.8M | ||
| Q2 24 | $-3.5M | $79.5M | ||
| Q1 24 | $51.8M | $88.6M |
| Q4 25 | 9.3% | 160.3% | ||
| Q3 25 | 14.8% | 46.6% | ||
| Q2 25 | 13.1% | 39.1% | ||
| Q1 25 | 5.2% | 42.4% | ||
| Q4 24 | 7.0% | 181.2% | ||
| Q3 24 | 14.3% | 52.6% | ||
| Q2 24 | -1.1% | 41.7% | ||
| Q1 24 | 15.0% | 45.2% |
| Q4 25 | 1.6% | 20.7% | ||
| Q3 25 | 1.1% | 6.5% | ||
| Q2 25 | 1.2% | 3.2% | ||
| Q1 25 | 2.5% | 3.0% | ||
| Q4 24 | 1.5% | 9.8% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 1.3% | 1.9% | ||
| Q1 24 | 0.8% | 2.7% |
| Q4 25 | 1.19× | 14.79× | ||
| Q3 25 | 1.78× | 5.44× | ||
| Q2 25 | 1.56× | 4.10× | ||
| Q1 25 | 1.07× | 6.59× | ||
| Q4 24 | 0.92× | 21.70× | ||
| Q3 24 | 2.24× | 5.65× | ||
| Q2 24 | 0.03× | 4.88× | ||
| Q1 24 | 2.10× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLBD
| Alternative Fuel Buses | $151.4M | 45% |
| Diesel Buses | $144.9M | 43% |
| Parts | $24.8M | 7% |
| Other | $12.1M | 4% |
NSA
Segment breakdown not available.
