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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and HIGHWOODS PROPERTIES, INC. (HIW). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $203.4M, roughly 1.1× HIGHWOODS PROPERTIES, INC.). HIGHWOODS PROPERTIES, INC. runs the higher net margin — 14.6% vs 4.4%, a 10.2% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -1.1%). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -1.9%).
Highwoods Properties, Inc. is a publicly traded real estate investment trust that owns, develops, acquires, and manages high-quality office properties primarily located in fast-growing metropolitan areas across the Southeastern and Mid-Atlantic regions of the United States. Its client base includes corporate tenants across diverse industry segments such as technology, healthcare, finance, and professional services.
CSW vs HIW — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $203.4M |
| Net Profit | $10.3M | $29.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | 67.2% |
| Net Margin | 4.4% | 14.6% |
| Revenue YoY | 20.3% | -1.1% |
| Net Profit YoY | -61.9% | 1029.4% |
| EPS (diluted) | $0.62 | $0.25 |
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 | $233.0M | $203.4M | ||
| Q3 25 | $277.0M | $201.8M | ||
| Q2 25 | $263.6M | $200.6M | ||
| Q1 25 | $230.5M | $200.4M | ||
| Q4 24 | $193.6M | $205.5M | ||
| Q3 24 | $227.9M | $204.3M | ||
| Q2 24 | $226.2M | $204.7M | ||
| Q1 24 | $210.9M | $211.3M |
| Q4 25 | $10.3M | $29.7M | ||
| Q3 25 | $40.7M | $13.7M | ||
| Q2 25 | $40.9M | $19.2M | ||
| Q1 25 | $35.1M | $100.0M | ||
| Q4 24 | $26.9M | $-3.2M | ||
| Q3 24 | $36.1M | $15.5M | ||
| Q2 24 | $38.6M | $64.8M | ||
| Q1 24 | $31.8M | $27.2M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | 67.2% | ||
| Q3 25 | 20.5% | 67.3% | ||
| Q2 25 | 20.8% | 68.3% | ||
| Q1 25 | 19.5% | 67.5% | ||
| Q4 24 | 15.3% | 65.2% | ||
| Q3 24 | 22.6% | 67.8% | ||
| Q2 24 | 24.3% | 68.5% | ||
| Q1 24 | 21.0% | 66.7% |
| Q4 25 | 4.4% | 14.6% | ||
| Q3 25 | 14.7% | 6.8% | ||
| Q2 25 | 15.5% | 9.6% | ||
| Q1 25 | 15.2% | 49.9% | ||
| Q4 24 | 13.9% | -1.6% | ||
| Q3 24 | 15.8% | 7.6% | ||
| Q2 24 | 17.1% | 31.6% | ||
| Q1 24 | 15.1% | 12.9% |
| Q4 25 | $0.62 | $0.25 | ||
| Q3 25 | $2.41 | $0.12 | ||
| Q2 25 | $2.43 | $0.17 | ||
| Q1 25 | $2.05 | $0.91 | ||
| Q4 24 | $1.60 | $-0.04 | ||
| Q3 24 | $2.26 | $0.14 | ||
| Q2 24 | $2.47 | $0.59 | ||
| Q1 24 | $2.03 | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $27.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $2.4B |
| Total Assets | $2.3B | $6.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $27.4M | ||
| Q3 25 | $31.5M | $26.3M | ||
| Q2 25 | $38.0M | $21.2M | ||
| Q1 25 | $225.8M | $20.1M | ||
| Q4 24 | $213.8M | $22.4M | ||
| Q3 24 | $273.2M | $23.6M | ||
| Q2 24 | $18.9M | $27.0M | ||
| Q1 24 | $22.2M | $16.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $1.1B | $2.4B | ||
| Q2 25 | $1.1B | $2.4B | ||
| Q1 25 | $1.1B | $2.4B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $1.0B | $2.4B | ||
| Q2 24 | $650.2M | $2.4B | ||
| Q1 24 | $615.7M | $2.4B |
| Q4 25 | $2.3B | $6.3B | ||
| Q3 25 | $1.5B | $6.1B | ||
| Q2 25 | $1.5B | $6.1B | ||
| Q1 25 | $1.4B | $6.1B | ||
| Q4 24 | $1.4B | $6.0B | ||
| Q3 24 | $1.4B | $6.0B | ||
| Q2 24 | $1.1B | $6.0B | ||
| Q1 24 | $1.0B | $6.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $359.2M |
| Free Cash FlowOCF − Capex | $22.7M | — |
| FCF MarginFCF / Revenue | 9.8% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 2.81× | 12.09× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $359.2M | ||
| Q3 25 | $61.8M | $96.7M | ||
| Q2 25 | $60.6M | $116.5M | ||
| Q1 25 | $27.3M | $46.3M | ||
| Q4 24 | $11.6M | $403.6M | ||
| Q3 24 | $66.8M | $97.5M | ||
| Q2 24 | $62.7M | $130.0M | ||
| Q1 24 | $22.4M | $72.4M |
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | — | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $59.6M | — | ||
| Q1 24 | $17.5M | — |
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | 2.81× | 12.09× | ||
| Q3 25 | 1.52× | 7.05× | ||
| Q2 25 | 1.48× | 6.06× | ||
| Q1 25 | 0.78× | 0.46× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | 6.30× | ||
| Q2 24 | 1.62× | 2.01× | ||
| Q1 24 | 0.71× | 2.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
HIW
| Raleigh NC | $45.6M | 22% |
| Nashville TN | $38.7M | 19% |
| Atlanta GA | $36.1M | 18% |
| Charlotte NC | $26.1M | 13% |
| Tampa FL | $22.2M | 11% |
| Orlando FL | $14.4M | 7% |
| Other | $11.4M | 6% |
| Richmond VA | $8.8M | 4% |
