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Side-by-side financial comparison of Clarus Corp (CLAR) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
Clarus Corp is the larger business by last-quarter revenue ($65.4M vs $35.0M, roughly 1.9× TPG RE Finance Trust, Inc.). TPG RE Finance Trust, Inc. runs the higher net margin — 15.6% vs -47.8%, a 63.4% gap on every dollar of revenue. On growth, TPG RE Finance Trust, Inc. posted the faster year-over-year revenue change (0.9% vs -8.4%). Over the past eight quarters, Clarus Corp's revenue compounded faster (-2.9% CAGR vs -5.1%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
CLAR vs TRTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $35.0M |
| Net Profit | $-31.3M | $4.0M |
| Gross Margin | 27.7% | — |
| Operating Margin | -59.6% | 11.6% |
| Net Margin | -47.8% | 15.6% |
| Revenue YoY | -8.4% | 0.9% |
| Net Profit YoY | 52.3% | -62.8% |
| EPS (diluted) | $-0.81 | $0.01 |
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 | $65.4M | $35.0M | ||
| Q3 25 | $69.3M | $37.8M | ||
| Q2 25 | $55.2M | $36.2M | ||
| Q1 25 | $60.4M | $37.0M | ||
| Q4 24 | $71.4M | $34.7M | ||
| Q3 24 | $67.1M | $40.1M | ||
| Q2 24 | $56.5M | $39.3M | ||
| Q1 24 | $69.3M | $38.9M |
| Q4 25 | $-31.3M | $4.0M | ||
| Q3 25 | $-1.6M | $22.0M | ||
| Q2 25 | $-8.4M | $20.6M | ||
| Q1 25 | $-5.2M | $13.7M | ||
| Q4 24 | $-65.5M | $10.7M | ||
| Q3 24 | $-3.2M | $22.2M | ||
| Q2 24 | $-5.5M | $24.7M | ||
| Q1 24 | $21.9M | $16.7M |
| Q4 25 | 27.7% | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 35.6% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 33.4% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 36.1% | — | ||
| Q1 24 | 35.9% | — |
| Q4 25 | -59.6% | 11.6% | ||
| Q3 25 | -4.4% | 58.4% | ||
| Q2 25 | -19.7% | 57.3% | ||
| Q1 25 | -11.2% | 37.2% | ||
| Q4 24 | -70.2% | 30.3% | ||
| Q3 24 | -8.0% | 55.4% | ||
| Q2 24 | -14.4% | 63.1% | ||
| Q1 24 | -9.8% | 44.0% |
| Q4 25 | -47.8% | 15.6% | ||
| Q3 25 | -2.3% | 58.1% | ||
| Q2 25 | -15.3% | 57.0% | ||
| Q1 25 | -8.7% | 37.0% | ||
| Q4 24 | -91.8% | 43.3% | ||
| Q3 24 | -4.7% | 55.3% | ||
| Q2 24 | -9.7% | 62.9% | ||
| Q1 24 | 31.6% | 43.0% |
| Q4 25 | $-0.81 | $0.01 | ||
| Q3 25 | $-0.04 | $0.23 | ||
| Q2 25 | $-0.22 | $0.21 | ||
| Q1 25 | $-0.14 | $0.12 | ||
| Q4 24 | $-1.72 | $0.09 | ||
| Q3 24 | $-0.08 | $0.23 | ||
| Q2 24 | $-0.14 | $0.26 | ||
| Q1 24 | $0.57 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.7M | $87.6M |
| Total DebtLower is stronger | $0 | $3.3B |
| Stockholders' EquityBook value | $196.4M | $1.1B |
| Total Assets | $249.0M | $4.4B |
| Debt / EquityLower = less leverage | 0.00× | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $87.6M | ||
| Q3 25 | $29.5M | $93.6M | ||
| Q2 25 | $28.5M | $165.8M | ||
| Q1 25 | $41.3M | $363.0M | ||
| Q4 24 | $45.4M | $190.2M | ||
| Q3 24 | $36.4M | $226.3M | ||
| Q2 24 | $46.2M | $259.2M | ||
| Q1 24 | $47.5M | $203.1M |
| Q4 25 | $0 | $3.3B | ||
| Q3 25 | $2.0M | $2.9B | ||
| Q2 25 | $1.9M | $3.0B | ||
| Q1 25 | $1.9M | $2.8B | ||
| Q4 24 | $1.9M | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | $37.0K | $2.7B |
| Q4 25 | $196.4M | $1.1B | ||
| Q3 25 | $225.8M | $1.1B | ||
| Q2 25 | $225.1M | $1.1B | ||
| Q1 25 | $229.3M | $1.1B | ||
| Q4 24 | $233.1M | $1.1B | ||
| Q3 24 | $308.5M | $1.1B | ||
| Q2 24 | $307.3M | $1.1B | ||
| Q1 24 | $310.4M | $1.1B |
| Q4 25 | $249.0M | $4.4B | ||
| Q3 25 | $283.1M | $4.1B | ||
| Q2 25 | $286.5M | $4.2B | ||
| Q1 25 | $292.8M | $4.0B | ||
| Q4 24 | $294.1M | $3.7B | ||
| Q3 24 | $375.3M | $3.7B | ||
| Q2 24 | $369.4M | $3.7B | ||
| Q1 24 | $377.0M | $3.8B |
| Q4 25 | 0.00× | 3.10× | ||
| Q3 25 | 0.01× | 2.72× | ||
| Q2 25 | 0.01× | 2.78× | ||
| Q1 25 | 0.01× | 2.56× | ||
| Q4 24 | 0.01× | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× | ||
| Q1 24 | 0.00× | 2.38× |
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 | $12.5M | $90.4M |
| Free Cash FlowOCF − Capex | $11.6M | — |
| FCF MarginFCF / Revenue | 17.7% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $90.4M | ||
| Q3 25 | $-5.7M | $21.8M | ||
| Q2 25 | $-9.4M | $24.7M | ||
| Q1 25 | $-2.1M | $19.1M | ||
| Q4 24 | $16.6M | $112.1M | ||
| Q3 24 | $-8.3M | $23.7M | ||
| Q2 24 | $834.0K | $25.6M | ||
| Q1 24 | $-16.4M | $37.4M |
| Q4 25 | $11.6M | — | ||
| Q3 25 | $-7.0M | — | ||
| Q2 25 | $-11.3M | — | ||
| Q1 25 | $-3.3M | — | ||
| Q4 24 | $14.4M | — | ||
| Q3 24 | $-9.4M | — | ||
| Q2 24 | $-744.0K | — | ||
| Q1 24 | $-18.3M | — |
| Q4 25 | 17.7% | — | ||
| Q3 25 | -10.0% | — | ||
| Q2 25 | -20.4% | — | ||
| Q1 25 | -5.4% | — | ||
| Q4 24 | 20.1% | — | ||
| Q3 24 | -14.0% | — | ||
| Q2 24 | -1.3% | — | ||
| Q1 24 | -26.3% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | -0.75× | 2.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
TRTX
Segment breakdown not available.
