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Side-by-side financial comparison of BT Brands, Inc. (BTBD) and INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM). Click either name above to swap in a different company.

INTELLIGENT PROTECTION MANAGEMENT CORP. is the larger business by last-quarter revenue ($6.1M vs $3.9M, roughly 1.6× BT Brands, Inc.). On growth, INTELLIGENT PROTECTION MANAGEMENT CORP. posted the faster year-over-year revenue change (2091.6% vs -11.4%). Over the past eight quarters, INTELLIGENT PROTECTION MANAGEMENT CORP.'s revenue compounded faster (54.7% CAGR vs -1.8%).

BT Group plc is a British multinational telecommunications holding company headquartered in London, England. It has operations in around 180 countries and is the largest provider of fixed-line, broadband and mobile services in the UK, and also provides subscription television and IT services.

Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.

BTBD vs IPM — Head-to-Head

Bigger by revenue
IPM
IPM
1.6× larger
IPM
$6.1M
$3.9M
BTBD
Growing faster (revenue YoY)
IPM
IPM
+2103.0% gap
IPM
2091.6%
-11.4%
BTBD
Faster 2-yr revenue CAGR
IPM
IPM
Annualised
IPM
54.7%
-1.8%
BTBD

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
BTBD
BTBD
IPM
IPM
Revenue
$3.9M
$6.1M
Net Profit
$915.0K
Gross Margin
53.1%
Operating Margin
19.1%
-13.4%
Net Margin
23.7%
Revenue YoY
-11.4%
2091.6%
Net Profit YoY
516.9%
EPS (diluted)
$0.15
$-0.05

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
BTBD
BTBD
IPM
IPM
Q4 25
$6.1M
Q3 25
$3.9M
$6.2M
Q2 25
$3.8M
$5.7M
Q1 25
$3.2M
$5.5M
Q3 24
$4.3M
Q2 24
$4.1M
Q1 24
$3.2M
Q4 23
$4.0M
$-7.3M
Net Profit
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
$915.0K
$-1.1M
Q2 25
$55.0K
$-1.1M
Q1 25
$-329.8K
$808.5K
Q3 24
$-219.5K
Q2 24
$-70.0K
Q1 24
$-445.7K
Q4 23
$-3.5K
Gross Margin
BTBD
BTBD
IPM
IPM
Q4 25
53.1%
Q3 25
50.7%
Q2 25
50.1%
Q1 25
55.3%
Q3 24
Q2 24
Q1 24
Q4 23
Operating Margin
BTBD
BTBD
IPM
IPM
Q4 25
-13.4%
Q3 25
19.1%
-23.0%
Q2 25
-2.0%
-19.7%
Q1 25
-9.0%
-24.2%
Q3 24
-1.7%
Q2 24
-4.6%
Q1 24
-19.8%
Q4 23
1.0%
Net Margin
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
23.7%
-17.4%
Q2 25
1.5%
-18.3%
Q1 25
-10.2%
14.7%
Q3 24
-5.0%
Q2 24
-1.7%
Q1 24
-14.0%
Q4 23
-0.1%
EPS (diluted)
BTBD
BTBD
IPM
IPM
Q4 25
$-0.05
Q3 25
$0.15
$-0.08
Q2 25
$-0.08
Q1 25
$0.06
Q3 24
$-0.04
Q2 24
Q1 24
Q4 23
$-0.03

Balance Sheet & Financial Strength

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

Metric
BTBD
BTBD
IPM
IPM
Cash + ST InvestmentsLiquidity on hand
$3.5M
$5.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$7.7M
$18.2M
Total Assets
$11.9M
$26.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BTBD
BTBD
IPM
IPM
Q4 25
$5.6M
Q3 25
$3.5M
$7.3M
Q2 25
$3.0M
$7.3M
Q1 25
$2.7M
$9.7M
Q3 24
$2.0M
Q2 24
$1.5M
Q1 24
$1.5M
Q4 23
$1.4M
$13.6M
Stockholders' Equity
BTBD
BTBD
IPM
IPM
Q4 25
$18.2M
Q3 25
$7.7M
$18.8M
Q2 25
$6.8M
$19.9M
Q1 25
$6.7M
$21.1M
Q3 24
$8.5M
Q2 24
$8.7M
Q1 24
$8.8M
Q4 23
$9.6M
$20.1M
Total Assets
BTBD
BTBD
IPM
IPM
Q4 25
$26.0M
Q3 25
$11.9M
$27.2M
Q2 25
$11.2M
$29.8M
Q1 25
$11.0M
$31.1M
Q3 24
$13.7M
Q2 24
$14.0M
Q1 24
$14.0M
Q4 23
$14.9M
$23.9M

Cash Flow & Capital Efficiency

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

Metric
BTBD
BTBD
IPM
IPM
Operating Cash FlowLast quarter
$325.2K
$87.6K
Free Cash FlowOCF − Capex
$261.8K
FCF MarginFCF / Revenue
6.8%
Capex IntensityCapex / Revenue
1.6%
Cash ConversionOCF / Net Profit
0.36×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BTBD
BTBD
IPM
IPM
Q4 25
$87.6K
Q3 25
$325.2K
$133.0K
Q2 25
$384.4K
$-888.7K
Q1 25
$-306.7K
$1.7M
Q3 24
$129.3K
Q2 24
$82.5K
Q1 24
$-408.9K
Q4 23
$37.0K
$-99.0K
Free Cash Flow
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
$261.8K
Q2 25
Q1 25
$-431.1K
Q3 24
$50.4K
Q2 24
$53.7K
Q1 24
$-521.3K
Q4 23
$-59.5K
FCF Margin
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
6.8%
Q2 25
Q1 25
-13.3%
Q3 24
1.2%
Q2 24
1.3%
Q1 24
-16.3%
Q4 23
-1.5%
Capex Intensity
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
1.6%
0.0%
Q2 25
0.0%
Q1 25
3.8%
Q3 24
1.8%
Q2 24
0.7%
Q1 24
3.5%
Q4 23
2.4%
Cash Conversion
BTBD
BTBD
IPM
IPM
Q4 25
Q3 25
0.36×
Q2 25
6.98×
Q1 25
2.16×
Q3 24
Q2 24
Q1 24
Q4 23

Financial Flow Comparison

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

Revenue Breakdown by Segment

BTBD
BTBD

Segment breakdown not available.

IPM
IPM

Procurement Revenue$5.4M88%
Other$743.9K12%

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