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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $137.5M, roughly 1.2× Terreno Realty Corp). Terreno Realty Corp runs the higher net margin — 115.1% vs 3.4%, a 111.7% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 20.1%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% CAGR vs -4.9%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
BTM vs TRNO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $137.5M |
| Net Profit | $5.5M | $158.2M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | — |
| Net Margin | 3.4% | 115.1% |
| Revenue YoY | 20.1% | 32.6% |
| Net Profit YoY | 690.4% | 107.9% |
| EPS (diluted) | $0.08 | $1.54 |
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 | — | $137.5M | ||
| Q3 25 | $162.5M | $116.2M | ||
| Q2 25 | $172.1M | $112.2M | ||
| Q1 25 | $164.2M | $110.4M | ||
| Q4 24 | — | $103.7M | ||
| Q3 24 | $135.3M | $99.6M | ||
| Q2 24 | $163.1M | $94.2M | ||
| Q1 24 | $138.5M | $85.0M |
| Q4 25 | — | $158.2M | ||
| Q3 25 | $5.5M | $103.4M | ||
| Q2 25 | $6.1M | $93.3M | ||
| Q1 25 | $4.2M | $48.1M | ||
| Q4 24 | — | $76.1M | ||
| Q3 24 | $-939.0K | $36.6M | ||
| Q2 24 | $-2.6M | $35.7M | ||
| Q1 24 | $-1.5M | $36.1M |
| Q4 25 | — | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | 10.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.5% | — |
| Q4 25 | — | 115.1% | ||
| Q3 25 | 3.4% | 88.9% | ||
| Q2 25 | 3.5% | 83.1% | ||
| Q1 25 | 2.6% | 43.6% | ||
| Q4 24 | — | 73.4% | ||
| Q3 24 | -0.7% | 36.8% | ||
| Q2 24 | -1.6% | 37.9% | ||
| Q1 24 | -1.1% | 42.4% |
| Q4 25 | — | $1.54 | ||
| Q3 25 | $0.08 | $1.00 | ||
| Q2 25 | $0.16 | $0.90 | ||
| Q1 25 | $0.20 | $0.47 | ||
| Q4 24 | — | $0.78 | ||
| Q3 24 | $-0.05 | $0.37 | ||
| Q2 24 | $-0.13 | $0.37 | ||
| Q1 24 | $-0.25 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $59.3M | $25.0M |
| Total DebtLower is stronger | $67.5M | $943.3M |
| Stockholders' EquityBook value | $21.0M | $4.1B |
| Total Assets | $125.3M | $5.4B |
| Debt / EquityLower = less leverage | 3.21× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | $59.3M | $26.2M | ||
| Q2 25 | $48.0M | $128.4M | ||
| Q1 25 | $35.0M | $156.5M | ||
| Q4 24 | — | $18.1M | ||
| Q3 24 | $32.2M | $243.7M | ||
| Q2 24 | $43.9M | $182.0M | ||
| Q1 24 | $42.2M | $649.6M |
| Q4 25 | — | $943.3M | ||
| Q3 25 | $67.5M | $1.0B | ||
| Q2 25 | $66.5M | $742.4M | ||
| Q1 25 | $56.2M | $741.9M | ||
| Q4 24 | — | $823.4M | ||
| Q3 24 | $44.5M | $672.2M | ||
| Q2 24 | $41.2M | $772.0M | ||
| Q1 24 | $37.6M | $771.8M |
| Q4 25 | — | $4.1B | ||
| Q3 25 | $21.0M | $4.0B | ||
| Q2 25 | $4.7M | $3.9B | ||
| Q1 25 | $-4.6M | $3.9B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $-7.9M | $3.6B | ||
| Q2 24 | $4.4M | $3.4B | ||
| Q1 24 | $5.0M | $3.4B |
| Q4 25 | — | $5.4B | ||
| Q3 25 | $125.3M | $5.3B | ||
| Q2 25 | $109.1M | $5.0B | ||
| Q1 25 | $89.7M | $4.9B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | $87.4M | $4.6B | ||
| Q2 24 | $97.5M | $4.5B | ||
| Q1 24 | $90.1M | $4.4B |
| Q4 25 | — | 0.23× | ||
| Q3 25 | 3.21× | 0.26× | ||
| Q2 25 | 14.18× | 0.19× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | 9.27× | 0.22× | ||
| Q1 24 | 7.54× | 0.22× |
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 | $6.6M | $271.9M |
| Free Cash FlowOCF − Capex | $2.5M | — |
| FCF MarginFCF / Revenue | 1.6% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.20× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $271.9M | ||
| Q3 25 | $6.6M | $79.5M | ||
| Q2 25 | $10.2M | $60.6M | ||
| Q1 25 | $16.3M | $61.4M | ||
| Q4 24 | — | $232.7M | ||
| Q3 24 | $5.8M | $70.0M | ||
| Q2 24 | $10.1M | $64.3M | ||
| Q1 24 | $1.3M | $47.0M |
| Q4 25 | — | — | ||
| Q3 25 | $2.5M | — | ||
| Q2 25 | $9.8M | — | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.0M | — | ||
| Q2 24 | $7.6M | — | ||
| Q1 24 | $789.0K | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 5.7% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.8% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | 1.20× | 0.77× | ||
| Q2 25 | 1.67× | 0.65× | ||
| Q1 25 | 3.88× | 1.28× | ||
| Q4 24 | — | 3.06× | ||
| Q3 24 | — | 1.91× | ||
| Q2 24 | — | 1.80× | ||
| Q1 24 | — | 1.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
