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Side-by-side financial comparison of CSP INC (CSPI) and MODIV INDUSTRIAL, INC. (MDV). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $11.1M, roughly 1.1× MODIV INDUSTRIAL, INC.). MODIV INDUSTRIAL, INC. runs the higher net margin — 11.0% vs 0.8%, a 10.2% gap on every dollar of revenue. On growth, MODIV INDUSTRIAL, INC. posted the faster year-over-year revenue change (-5.6% vs -23.2%). Over the past eight quarters, MODIV INDUSTRIAL, INC.'s revenue compounded faster (-3.8% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
CSPI vs MDV — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $11.1M |
| Net Profit | $91.0K | $1.2M |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | 45.8% |
| Net Margin | 0.8% | 11.0% |
| Revenue YoY | -23.2% | -5.6% |
| Net Profit YoY | -80.7% | -22.0% |
| EPS (diluted) | $0.01 | $0.02 |
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 | $12.0M | $11.1M | ||
| Q3 25 | $14.5M | $11.7M | ||
| Q2 25 | $15.4M | $11.8M | ||
| Q1 25 | $13.1M | $11.8M | ||
| Q4 24 | $15.7M | $11.7M | ||
| Q3 24 | $13.0M | $11.7M | ||
| Q2 24 | $13.1M | $11.4M | ||
| Q1 24 | $13.7M | $12.0M |
| Q4 25 | $91.0K | $1.2M | ||
| Q3 25 | $-191.0K | $1.0M | ||
| Q2 25 | $-264.0K | $-2.0M | ||
| Q1 25 | $-108.0K | $829.0K | ||
| Q4 24 | $472.0K | $1.6M | ||
| Q3 24 | $-1.7M | $-587.0K | ||
| Q2 24 | $-185.0K | $1.3M | ||
| Q1 24 | $1.6M | $3.7M |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 35.0% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | -0.9% | 45.8% | ||
| Q3 25 | -3.7% | 41.4% | ||
| Q2 25 | -7.9% | 9.8% | ||
| Q1 25 | -7.6% | 40.2% | ||
| Q4 24 | -2.3% | 45.4% | ||
| Q3 24 | -15.7% | 42.0% | ||
| Q2 24 | -5.5% | 44.6% | ||
| Q1 24 | 9.0% | 55.6% |
| Q4 25 | 0.8% | 11.0% | ||
| Q3 25 | -1.3% | 9.0% | ||
| Q2 25 | -1.7% | -17.1% | ||
| Q1 25 | -0.8% | 7.0% | ||
| Q4 24 | 3.0% | 13.3% | ||
| Q3 24 | -12.7% | -5.0% | ||
| Q2 24 | -1.4% | 11.6% | ||
| Q1 24 | 11.6% | 31.1% |
| Q4 25 | $0.01 | $0.02 | ||
| Q3 25 | $-0.02 | $0.00 | ||
| Q2 25 | $-0.03 | $-0.32 | ||
| Q1 25 | $-0.01 | $-0.01 | ||
| Q4 24 | $0.05 | $0.07 | ||
| Q3 24 | $-0.17 | $-0.18 | ||
| Q2 24 | $-0.02 | $0.03 | ||
| Q1 24 | $0.16 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $14.4M |
| Total DebtLower is stronger | — | $261.5M |
| Stockholders' EquityBook value | $44.8M | $162.7M |
| Total Assets | $69.2M | $476.5M |
| Debt / EquityLower = less leverage | — | 1.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $14.4M | ||
| Q3 25 | $27.4M | $8.3M | ||
| Q2 25 | $26.3M | $5.8M | ||
| Q1 25 | $29.5M | $6.2M | ||
| Q4 24 | $30.7M | $11.5M | ||
| Q3 24 | $30.6M | $6.8M | ||
| Q2 24 | $28.9M | $18.9M | ||
| Q1 24 | $27.1M | $18.4M |
| Q4 25 | — | $261.5M | ||
| Q3 25 | — | $279.7M | ||
| Q2 25 | — | $279.7M | ||
| Q1 25 | — | $279.7M | ||
| Q4 24 | — | $279.8M | ||
| Q3 24 | — | $279.7M | ||
| Q2 24 | — | $279.7M | ||
| Q1 24 | — | $279.6M |
| Q4 25 | $44.8M | $162.7M | ||
| Q3 25 | $44.6M | $164.8M | ||
| Q2 25 | $47.5M | $165.6M | ||
| Q1 25 | $47.5M | $171.1M | ||
| Q4 24 | $47.5M | $190.1M | ||
| Q3 24 | $47.3M | $186.3M | ||
| Q2 24 | $48.1M | $187.0M | ||
| Q1 24 | $48.2M | $188.0M |
| Q4 25 | $69.2M | $476.5M | ||
| Q3 25 | $71.2M | $499.6M | ||
| Q2 25 | $66.8M | $498.9M | ||
| Q1 25 | $67.1M | $506.8M | ||
| Q4 24 | $67.5M | $507.8M | ||
| Q3 24 | $69.4M | $507.4M | ||
| Q2 24 | $66.8M | $519.5M | ||
| Q1 24 | $64.2M | $522.5M |
| Q4 25 | — | 1.61× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.47× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | — | 1.49× |
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 | $-2.9M | $15.0M |
| Free Cash FlowOCF − Capex | $-3.0M | — |
| FCF MarginFCF / Revenue | -25.1% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | -32.04× | 12.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $15.0M | ||
| Q3 25 | $1.9M | $4.1M | ||
| Q2 25 | $-3.3M | $3.9M | ||
| Q1 25 | $1.9M | $3.0M | ||
| Q4 24 | $1.7M | $18.2M | ||
| Q3 24 | $-1.5M | $5.1M | ||
| Q2 24 | $2.4M | $4.7M | ||
| Q1 24 | $1.7M | $3.0M |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $2.4M | — | ||
| Q1 24 | $1.6M | — |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -11.7% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 11.9% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | -32.04× | 12.34× | ||
| Q3 25 | — | 3.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.68× | ||
| Q4 24 | 3.69× | 11.72× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.55× | ||
| Q1 24 | 1.04× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
MDV
Segment breakdown not available.
