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Side-by-side financial comparison of BYLINE BANCORP, INC. (BY) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

BYLINE BANCORP, INC. is the larger business by last-quarter revenue ($112.4M vs $66.7M, roughly 1.7× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 33.4%, a 14.3% gap on every dollar of revenue. On growth, BYLINE BANCORP, INC. posted the faster year-over-year revenue change (9.0% vs -13.1%). Over the past eight quarters, BYLINE BANCORP, INC.'s revenue compounded faster (6.4% CAGR vs -6.0%).

Byline Bank is a bank headquartered in Chicago, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company, and the 4th largest SBA 7(a) lender.

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. ...

BY vs IIPR — Head-to-Head

Bigger by revenue
BY
BY
1.7× larger
BY
$112.4M
$66.7M
IIPR
Growing faster (revenue YoY)
BY
BY
+22.2% gap
BY
9.0%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
14.3% more per $
IIPR
47.8%
33.4%
BY
Faster 2-yr revenue CAGR
BY
BY
Annualised
BY
6.4%
-6.0%
IIPR

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
BY
BY
IIPR
IIPR
Revenue
$112.4M
$66.7M
Net Profit
$37.6M
$31.8M
Gross Margin
Operating Margin
47.8%
Net Margin
33.4%
47.8%
Revenue YoY
9.0%
-13.1%
Net Profit YoY
33.0%
-20.4%
EPS (diluted)
$0.83
$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
BY
BY
IIPR
IIPR
Q1 26
$112.4M
Q4 25
$117.0M
$66.7M
Q3 25
$115.7M
$64.7M
Q2 25
$110.5M
$62.9M
Q1 25
$103.1M
$71.7M
Q4 24
$104.7M
$76.7M
Q3 24
$101.8M
$76.5M
Q2 24
$99.4M
$79.8M
Net Profit
BY
BY
IIPR
IIPR
Q1 26
$37.6M
Q4 25
$34.5M
$31.8M
Q3 25
$37.2M
$29.3M
Q2 25
$30.1M
$26.0M
Q1 25
$28.2M
$31.1M
Q4 24
$30.3M
$40.0M
Q3 24
$30.3M
$40.2M
Q2 24
$29.7M
$42.0M
Operating Margin
BY
BY
IIPR
IIPR
Q1 26
Q4 25
40.1%
47.8%
Q3 25
43.1%
45.5%
Q2 25
35.2%
45.9%
Q1 25
36.4%
47.4%
Q4 24
38.6%
54.7%
Q3 24
39.3%
54.8%
Q2 24
40.4%
53.1%
Net Margin
BY
BY
IIPR
IIPR
Q1 26
33.4%
Q4 25
34.1%
47.8%
Q3 25
32.1%
45.3%
Q2 25
27.2%
41.4%
Q1 25
27.4%
43.3%
Q4 24
34.3%
52.2%
Q3 24
29.8%
52.6%
Q2 24
29.9%
52.6%
EPS (diluted)
BY
BY
IIPR
IIPR
Q1 26
$0.83
Q4 25
$0.77
$1.07
Q3 25
$0.82
$0.97
Q2 25
$0.66
$0.86
Q1 25
$0.64
$1.03
Q4 24
$0.68
$1.35
Q3 24
$0.69
$1.37
Q2 24
$0.68
$1.44

Balance Sheet & Financial Strength

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

Metric
BY
BY
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$198.4M
$47.6M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.3B
$1.8B
Total Assets
$9.9B
$2.4B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BY
BY
IIPR
IIPR
Q1 26
$198.4M
Q4 25
$149.1M
$47.6M
Q3 25
$259.0M
$41.9M
Q2 25
$218.3M
$104.9M
Q1 25
$421.3M
$133.3M
Q4 24
$563.1M
$151.2M
Q3 24
$452.6M
$172.4M
Q2 24
$730.5M
$160.9M
Total Debt
BY
BY
IIPR
IIPR
Q1 26
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Stockholders' Equity
BY
BY
IIPR
IIPR
Q1 26
$1.3B
Q4 25
$1.3B
$1.8B
Q3 25
$1.2B
$1.9B
Q2 25
$1.2B
$1.9B
Q1 25
$1.1B
$1.9B
Q4 24
$1.1B
$1.9B
Q3 24
$1.1B
$1.9B
Q2 24
$1.0B
$1.9B
Total Assets
BY
BY
IIPR
IIPR
Q1 26
$9.9B
Q4 25
$9.7B
$2.4B
Q3 25
$9.8B
$2.3B
Q2 25
$9.7B
$2.3B
Q1 25
$9.6B
$2.4B
Q4 24
$9.5B
$2.4B
Q3 24
$9.4B
$2.4B
Q2 24
$9.6B
$2.4B
Debt / Equity
BY
BY
IIPR
IIPR
Q1 26
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24

Cash Flow & Capital Efficiency

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

Metric
BY
BY
IIPR
IIPR
Operating Cash FlowLast quarter
$198.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BY
BY
IIPR
IIPR
Q1 26
Q4 25
$140.3M
$198.2M
Q3 25
$38.3M
$45.6M
Q2 25
$16.3M
$48.4M
Q1 25
$27.1M
$54.2M
Q4 24
$175.2M
$258.4M
Q3 24
$19.8M
$64.9M
Q2 24
$40.1M
$64.2M
Free Cash Flow
BY
BY
IIPR
IIPR
Q1 26
Q4 25
$136.3M
Q3 25
$38.0M
Q2 25
$15.2M
Q1 25
$25.0M
Q4 24
$171.2M
Q3 24
$19.1M
Q2 24
$39.4M
FCF Margin
BY
BY
IIPR
IIPR
Q1 26
Q4 25
116.5%
Q3 25
32.8%
Q2 25
13.7%
Q1 25
24.3%
Q4 24
163.5%
Q3 24
18.8%
Q2 24
39.7%
Capex Intensity
BY
BY
IIPR
IIPR
Q1 26
Q4 25
3.4%
Q3 25
0.3%
Q2 25
1.0%
Q1 25
2.0%
Q4 24
3.8%
Q3 24
0.6%
Q2 24
0.7%
Cash Conversion
BY
BY
IIPR
IIPR
Q1 26
Q4 25
4.06×
6.22×
Q3 25
1.03×
1.56×
Q2 25
0.54×
1.86×
Q1 25
0.96×
1.75×
Q4 24
5.78×
6.46×
Q3 24
0.65×
1.61×
Q2 24
1.35×
1.53×

Financial Flow Comparison

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

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