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Side-by-side financial comparison of Bowman Consulting Group Ltd. (BWMN) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

Bowman Consulting Group Ltd. is the larger business by last-quarter revenue ($129.0M vs $66.7M, roughly 1.9× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 1.5%, a 46.2% gap on every dollar of revenue. On growth, Bowman Consulting Group Ltd. posted the faster year-over-year revenue change (13.9% vs -13.1%). Over the past eight quarters, Bowman Consulting Group Ltd.'s revenue compounded faster (16.6% CAGR vs -6.0%).

SLR Consulting is a privately owned international sustainability consultancy with offices in Europe, North America, South America, Australasia, and Africa. In 2019, it reported revenues of £150.8 million. Its purpose is ‘Making Sustainability Happen’, which it achieves through its global team of expert advisors and technicians, who partner with clients to tackle some of the world’s most complex sustainability challenges. Its ultimate owner is Solar Holdings Topco Limited.

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. ...

BWMN vs IIPR — Head-to-Head

Bigger by revenue
BWMN
BWMN
1.9× larger
BWMN
$129.0M
$66.7M
IIPR
Growing faster (revenue YoY)
BWMN
BWMN
+27.0% gap
BWMN
13.9%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
46.2% more per $
IIPR
47.8%
1.5%
BWMN
Faster 2-yr revenue CAGR
BWMN
BWMN
Annualised
BWMN
16.6%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
BWMN
BWMN
IIPR
IIPR
Revenue
$129.0M
$66.7M
Net Profit
$2.0M
$31.8M
Gross Margin
55.0%
Operating Margin
3.2%
47.8%
Net Margin
1.5%
47.8%
Revenue YoY
13.9%
-13.1%
Net Profit YoY
-66.7%
-20.4%
EPS (diluted)
$0.13
$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
BWMN
BWMN
IIPR
IIPR
Q4 25
$129.0M
$66.7M
Q3 25
$126.0M
$64.7M
Q2 25
$122.1M
$62.9M
Q1 25
$112.9M
$71.7M
Q4 24
$113.2M
$76.7M
Q3 24
$113.9M
$76.5M
Q2 24
$104.5M
$79.8M
Q1 24
$94.9M
$75.5M
Net Profit
BWMN
BWMN
IIPR
IIPR
Q4 25
$2.0M
$31.8M
Q3 25
$6.6M
$29.3M
Q2 25
$6.0M
$26.0M
Q1 25
$-1.7M
$31.1M
Q4 24
$5.9M
$40.0M
Q3 24
$771.0K
$40.2M
Q2 24
$-2.1M
$42.0M
Q1 24
$-1.6M
$39.4M
Gross Margin
BWMN
BWMN
IIPR
IIPR
Q4 25
55.0%
Q3 25
53.1%
Q2 25
53.7%
Q1 25
51.4%
Q4 24
53.2%
Q3 24
52.4%
Q2 24
52.5%
Q1 24
50.6%
Operating Margin
BWMN
BWMN
IIPR
IIPR
Q4 25
3.2%
47.8%
Q3 25
4.2%
45.5%
Q2 25
7.4%
45.9%
Q1 25
1.0%
47.4%
Q4 24
1.2%
54.7%
Q3 24
0.4%
54.8%
Q2 24
-1.2%
53.1%
Q1 24
-2.8%
55.7%
Net Margin
BWMN
BWMN
IIPR
IIPR
Q4 25
1.5%
47.8%
Q3 25
5.3%
45.3%
Q2 25
4.9%
41.4%
Q1 25
-1.5%
43.3%
Q4 24
5.2%
52.2%
Q3 24
0.7%
52.6%
Q2 24
-2.0%
52.6%
Q1 24
-1.6%
52.3%
EPS (diluted)
BWMN
BWMN
IIPR
IIPR
Q4 25
$0.13
$1.07
Q3 25
$0.37
$0.97
Q2 25
$0.34
$0.86
Q1 25
$-0.11
$1.03
Q4 24
$0.37
$1.35
Q3 24
$0.04
$1.37
Q2 24
$-0.13
$1.44
Q1 24
$-0.11
$1.36

Balance Sheet & Financial Strength

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

Metric
BWMN
BWMN
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$11.1M
$47.6M
Total DebtLower is stronger
$57.6M
$393.7M
Stockholders' EquityBook value
$261.1M
$1.8B
Total Assets
$579.7M
$2.4B
Debt / EquityLower = less leverage
0.22×
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BWMN
BWMN
IIPR
IIPR
Q4 25
$11.1M
$47.6M
Q3 25
$16.2M
$41.9M
Q2 25
$15.5M
$104.9M
Q1 25
$10.7M
$133.3M
Q4 24
$6.7M
$151.2M
Q3 24
$11.7M
$172.4M
Q2 24
$23.1M
$160.9M
Q1 24
$11.7M
$173.5M
Total Debt
BWMN
BWMN
IIPR
IIPR
Q4 25
$57.6M
$393.7M
Q3 25
$29.8M
Q2 25
$32.0M
Q1 25
$36.4M
Q4 24
$38.1M
Q3 24
$36.4M
Q2 24
$38.8M
Q1 24
$26.8M
Stockholders' Equity
BWMN
BWMN
IIPR
IIPR
Q4 25
$261.1M
$1.8B
Q3 25
$261.8M
$1.9B
Q2 25
$249.6M
$1.9B
Q1 25
$244.1M
$1.9B
Q4 24
$246.1M
$1.9B
Q3 24
$243.2M
$1.9B
Q2 24
$235.6M
$1.9B
Q1 24
$167.3M
$2.0B
Total Assets
BWMN
BWMN
IIPR
IIPR
Q4 25
$579.7M
$2.4B
Q3 25
$510.2M
$2.3B
Q2 25
$538.2M
$2.3B
Q1 25
$528.7M
$2.4B
Q4 24
$505.9M
$2.4B
Q3 24
$497.0M
$2.4B
Q2 24
$463.4M
$2.4B
Q1 24
$420.5M
$2.4B
Debt / Equity
BWMN
BWMN
IIPR
IIPR
Q4 25
0.22×
0.21×
Q3 25
0.11×
Q2 25
0.13×
Q1 25
0.15×
Q4 24
0.15×
Q3 24
0.15×
Q2 24
0.16×
Q1 24
0.16×

Cash Flow & Capital Efficiency

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

Metric
BWMN
BWMN
IIPR
IIPR
Operating Cash FlowLast quarter
$9.4M
$198.2M
Free Cash FlowOCF − Capex
$8.1M
FCF MarginFCF / Revenue
6.3%
Capex IntensityCapex / Revenue
0.9%
Cash ConversionOCF / Net Profit
4.76×
6.22×
TTM Free Cash FlowTrailing 4 quarters
$33.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BWMN
BWMN
IIPR
IIPR
Q4 25
$9.4M
$198.2M
Q3 25
$10.2M
$45.6M
Q2 25
$4.3M
$48.4M
Q1 25
$12.0M
$54.2M
Q4 24
$11.9M
$258.4M
Q3 24
$6.8M
$64.9M
Q2 24
$3.1M
$64.2M
Q1 24
$2.5M
$71.6M
Free Cash Flow
BWMN
BWMN
IIPR
IIPR
Q4 25
$8.1M
Q3 25
$10.1M
Q2 25
$4.2M
Q1 25
$11.0M
Q4 24
$11.7M
Q3 24
$6.6M
Q2 24
$2.7M
Q1 24
$2.3M
FCF Margin
BWMN
BWMN
IIPR
IIPR
Q4 25
6.3%
Q3 25
8.0%
Q2 25
3.4%
Q1 25
9.7%
Q4 24
10.4%
Q3 24
5.8%
Q2 24
2.6%
Q1 24
2.4%
Capex Intensity
BWMN
BWMN
IIPR
IIPR
Q4 25
0.9%
Q3 25
0.0%
Q2 25
0.1%
Q1 25
0.9%
Q4 24
0.2%
Q3 24
0.2%
Q2 24
0.3%
Q1 24
0.3%
Cash Conversion
BWMN
BWMN
IIPR
IIPR
Q4 25
4.76×
6.22×
Q3 25
1.54×
1.56×
Q2 25
0.71×
1.86×
Q1 25
1.75×
Q4 24
2.02×
6.46×
Q3 24
8.81×
1.61×
Q2 24
1.53×
Q1 24
1.82×

Financial Flow Comparison

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

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