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Side-by-side financial comparison of Claros Mortgage Trust, Inc. (CMTG) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $46.7M, roughly 1.5× Claros Mortgage Trust, Inc.). Globalstar, Inc. runs the higher net margin — -16.1% vs -468.9%, a 452.8% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -22.4%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -10.9%).
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
CMTG vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.7M | $72.0M |
| Net Profit | $-219.2M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | — | -0.5% |
| Net Margin | -468.9% | -16.1% |
| Revenue YoY | -22.4% | 17.6% |
| Net Profit YoY | -117.7% | 76.9% |
| EPS (diluted) | $-1.56 | $-0.11 |
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 | $46.7M | $72.0M | ||
| Q3 25 | $46.1M | $73.8M | ||
| Q2 25 | $51.6M | $67.1M | ||
| Q1 25 | $43.4M | $60.0M | ||
| Q4 24 | $60.2M | $61.2M | ||
| Q3 24 | $64.9M | $72.3M | ||
| Q2 24 | $64.5M | $60.4M | ||
| Q1 24 | $58.8M | $56.5M |
| Q4 25 | $-219.2M | $-11.6M | ||
| Q3 25 | $-9.5M | $1.1M | ||
| Q2 25 | $-181.7M | $19.2M | ||
| Q1 25 | $-78.6M | $-17.3M | ||
| Q4 24 | $-100.7M | $-50.2M | ||
| Q3 24 | $-56.2M | $9.9M | ||
| Q2 24 | $-11.6M | $-9.7M | ||
| Q1 24 | $-52.8M | $-13.2M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 13.8% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | — | -6.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | -2.4% | ||
| Q1 24 | — | -8.3% |
| Q4 25 | -468.9% | -16.1% | ||
| Q3 25 | -20.7% | 1.5% | ||
| Q2 25 | -351.9% | 28.6% | ||
| Q1 25 | -181.3% | -28.9% | ||
| Q4 24 | -167.2% | -82.1% | ||
| Q3 24 | -86.7% | 13.7% | ||
| Q2 24 | -17.9% | -16.0% | ||
| Q1 24 | -89.7% | -23.4% |
| Q4 25 | $-1.56 | $-0.11 | ||
| Q3 25 | $-0.07 | $-0.01 | ||
| Q2 25 | $-1.30 | $0.13 | ||
| Q1 25 | $-0.56 | $-0.16 | ||
| Q4 24 | $-0.72 | $-0.57 | ||
| Q3 24 | $-0.40 | $0.00 | ||
| Q2 24 | $-0.09 | $-0.01 | ||
| Q1 24 | $-0.39 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $173.2M | $447.5M |
| Total DebtLower is stronger | $3.2B | $483.8M |
| Stockholders' EquityBook value | $1.5B | $355.7M |
| Total Assets | $4.7B | $2.3B |
| Debt / EquityLower = less leverage | 2.06× | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.2M | $447.5M | ||
| Q3 25 | $339.5M | $346.3M | ||
| Q2 25 | $209.2M | $308.2M | ||
| Q1 25 | $127.8M | $241.4M | ||
| Q4 24 | $99.1M | $391.2M | ||
| Q3 24 | $113.9M | $51.9M | ||
| Q2 24 | $148.2M | $64.3M | ||
| Q1 24 | $232.5M | $59.3M |
| Q4 25 | $3.2B | $483.8M | ||
| Q3 25 | $3.7B | $508.6M | ||
| Q2 25 | $4.0B | $491.5M | ||
| Q1 25 | $4.7B | $502.7M | ||
| Q4 24 | $4.9B | $511.4M | ||
| Q3 24 | $5.1B | $394.4M | ||
| Q2 24 | $5.3B | $393.1M | ||
| Q1 24 | $5.5B | $398.7M |
| Q4 25 | $1.5B | $355.7M | ||
| Q3 25 | $1.7B | $364.8M | ||
| Q2 25 | $1.8B | $360.9M | ||
| Q1 25 | $1.9B | $344.3M | ||
| Q4 24 | $2.0B | $358.9M | ||
| Q3 24 | $2.1B | $394.1M | ||
| Q2 24 | $2.2B | $383.0M | ||
| Q1 24 | $2.2B | $377.1M |
| Q4 25 | $4.7B | $2.3B | ||
| Q3 25 | $5.4B | $2.2B | ||
| Q2 25 | $5.8B | $1.9B | ||
| Q1 25 | $6.7B | $1.7B | ||
| Q4 24 | $7.0B | $1.7B | ||
| Q3 24 | $7.3B | $917.6M | ||
| Q2 24 | $7.6B | $926.2M | ||
| Q1 24 | $7.8B | $917.0M |
| Q4 25 | 2.06× | 1.36× | ||
| Q3 25 | 2.09× | 1.39× | ||
| Q2 25 | 2.29× | 1.36× | ||
| Q1 25 | 2.42× | 1.46× | ||
| Q4 24 | 2.44× | 1.43× | ||
| Q3 24 | 2.44× | 1.00× | ||
| Q2 24 | 2.46× | 1.03× | ||
| Q1 24 | 2.47× | 1.06× |
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 | $-30.5M | $175.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-30.5M | $175.9M | ||
| Q3 25 | $8.8M | $236.0M | ||
| Q2 25 | $-5.8M | $157.9M | ||
| Q1 25 | $-35.8M | $51.9M | ||
| Q4 24 | $84.5M | $340.7M | ||
| Q3 24 | $39.2M | $32.0M | ||
| Q2 24 | $5.5M | $36.7M | ||
| Q1 24 | $21.5M | $29.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
