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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $165.3M, roughly 1.4× INDEPENDENCE REALTY TRUST, INC.). On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 2.5%). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 2.2%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
CSW vs IRT — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $165.3M |
| Net Profit | $10.3M | — |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | — |
| Net Margin | 4.4% | — |
| Revenue YoY | 20.3% | 2.5% |
| Net Profit YoY | -61.9% | — |
| EPS (diluted) | $0.62 | $0.00 |
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.
| Q1 26 | — | $165.3M | ||
| Q4 25 | $233.0M | $167.1M | ||
| Q3 25 | $277.0M | $167.1M | ||
| Q2 25 | $263.6M | $162.2M | ||
| Q1 25 | $230.5M | $161.2M | ||
| Q4 24 | $193.6M | $161.0M | ||
| Q3 24 | $227.9M | $160.1M | ||
| Q2 24 | $226.2M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | $10.3M | $33.3M | ||
| Q3 25 | $40.7M | $6.9M | ||
| Q2 25 | $40.9M | $8.0M | ||
| Q1 25 | $35.1M | $8.4M | ||
| Q4 24 | $26.9M | $-1.0M | ||
| Q3 24 | $36.1M | $12.4M | ||
| Q2 24 | $38.6M | $10.4M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 7.4% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 15.3% | — | ||
| Q3 24 | 22.6% | — | ||
| Q2 24 | 24.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.4% | 19.9% | ||
| Q3 25 | 14.7% | 4.1% | ||
| Q2 25 | 15.5% | 5.0% | ||
| Q1 25 | 15.2% | 5.2% | ||
| Q4 24 | 13.9% | -0.6% | ||
| Q3 24 | 15.8% | 7.7% | ||
| Q2 24 | 17.1% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $0.62 | $0.14 | ||
| Q3 25 | $2.41 | $0.03 | ||
| Q2 25 | $2.43 | $0.03 | ||
| Q1 25 | $2.05 | $0.04 | ||
| Q4 24 | $1.60 | $-0.01 | ||
| Q3 24 | $2.26 | $0.05 | ||
| Q2 24 | $2.47 | $0.05 |
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 | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $3.4B |
| Total Assets | $2.3B | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $40.2M | $23.6M | ||
| Q3 25 | $31.5M | $23.3M | ||
| Q2 25 | $38.0M | $19.5M | ||
| Q1 25 | $225.8M | $29.1M | ||
| Q4 24 | $213.8M | $21.2M | ||
| Q3 24 | $273.2M | $17.6M | ||
| Q2 24 | $18.9M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | $800.1M | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $1.1B | $3.5B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $1.1B | $3.4B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | $1.0B | $3.4B | ||
| Q3 24 | $1.0B | $3.4B | ||
| Q2 24 | $650.2M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $2.3B | $6.0B | ||
| Q3 25 | $1.5B | $6.1B | ||
| Q2 25 | $1.5B | $6.0B | ||
| Q1 25 | $1.4B | $6.0B | ||
| Q4 24 | $1.4B | $6.1B | ||
| Q3 24 | $1.4B | $5.9B | ||
| Q2 24 | $1.1B | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | 0.75× | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | — |
| Free Cash FlowOCF − Capex | $22.7M | — |
| FCF MarginFCF / Revenue | 9.8% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.9M | $282.1M | ||
| Q3 25 | $61.8M | $79.3M | ||
| Q2 25 | $60.6M | $82.2M | ||
| Q1 25 | $27.3M | $60.4M | ||
| Q4 24 | $11.6M | $259.8M | ||
| Q3 24 | $66.8M | $69.2M | ||
| Q2 24 | $62.7M | $83.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 2.81× | 8.48× | ||
| Q3 25 | 1.52× | 11.51× | ||
| Q2 25 | 1.48× | 10.22× | ||
| Q1 25 | 0.78× | 7.23× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | 5.60× | ||
| Q2 24 | 1.62× | 8.02× |
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% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
