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Side-by-side financial comparison of CTO Realty Growth, Inc. (CTO) and Firefly Aerospace Inc. (FLY). Click either name above to swap in a different company.

CTO Realty Growth, Inc. is the larger business by last-quarter revenue ($41.2M vs $30.8M, roughly 1.3× Firefly Aerospace Inc.). CTO Realty Growth, Inc. runs the higher net margin — 15.1% vs -433.5%, a 448.5% gap on every dollar of revenue. On growth, Firefly Aerospace Inc. posted the faster year-over-year revenue change (37.6% vs 15.0%).

Keller Williams Realty is an American technology and international real estate franchise with headquarters in Austin, Texas. It is the largest real estate franchise in the United States by sales volume as of 2022.

Firefly Aerospace, Inc. (Firefly) is an American aerospace firm based in Cedar Park, Texas. Firefly develops small- and medium-lift launch vehicles for commercial launches to orbit. Firefly's stated purpose is to increase access to space, similar to other private spaceflight companies.

CTO vs FLY — Head-to-Head

Bigger by revenue
CTO
CTO
1.3× larger
CTO
$41.2M
$30.8M
FLY
Growing faster (revenue YoY)
FLY
FLY
+22.6% gap
FLY
37.6%
15.0%
CTO
Higher net margin
CTO
CTO
448.5% more per $
CTO
15.1%
-433.5%
FLY

Income Statement — Q1 FY2026 vs Q3 FY2025

Metric
CTO
CTO
FLY
FLY
Revenue
$41.2M
$30.8M
Net Profit
$6.2M
$-133.4M
Gross Margin
27.6%
Operating Margin
175.0%
-202.1%
Net Margin
15.1%
-433.5%
Revenue YoY
15.0%
37.6%
Net Profit YoY
174.4%
-227.1%
EPS (diluted)
$0.13
$-1.50

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.

Revenue
CTO
CTO
FLY
FLY
Q1 26
$41.2M
Q4 25
$38.3M
Q3 25
$37.8M
$30.8M
Q2 25
$37.6M
$15.5M
Q1 25
$35.8M
Q4 24
$35.7M
Q3 24
$31.8M
$22.4M
Q2 24
$28.8M
$21.1M
Net Profit
CTO
CTO
FLY
FLY
Q1 26
$6.2M
Q4 25
$28.3M
Q3 25
$2.9M
$-133.4M
Q2 25
$-23.4M
$-63.8M
Q1 25
$2.3M
Q4 24
$-15.2M
Q3 24
$6.2M
$-40.8M
Q2 24
$1.2M
$-53.5M
Gross Margin
CTO
CTO
FLY
FLY
Q1 26
Q4 25
75.0%
Q3 25
75.4%
27.6%
Q2 25
73.0%
25.7%
Q1 25
75.2%
Q4 24
74.4%
Q3 24
74.4%
34.7%
Q2 24
71.1%
14.0%
Operating Margin
CTO
CTO
FLY
FLY
Q1 26
175.0%
Q4 25
75.1%
Q3 25
26.6%
-202.1%
Q2 25
-33.7%
-349.5%
Q1 25
22.0%
Q4 24
-20.4%
Q3 24
15.6%
-152.9%
Q2 24
18.8%
-232.1%
Net Margin
CTO
CTO
FLY
FLY
Q1 26
15.1%
Q4 25
73.9%
Q3 25
7.7%
-433.5%
Q2 25
-62.2%
-410.2%
Q1 25
6.3%
Q4 24
-42.6%
Q3 24
19.6%
-182.3%
Q2 24
4.1%
-253.7%
EPS (diluted)
CTO
CTO
FLY
FLY
Q1 26
$0.13
Q4 25
$0.81
Q3 25
$0.03
$-1.50
Q2 25
$-0.77
$-5.78
Q1 25
$0.01
Q4 24
$-0.69
Q3 24
$0.17
$-3.57
Q2 24
$-0.03
$-4.60

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CTO
CTO
FLY
FLY
Cash + ST InvestmentsLiquidity on hand
$8.3M
$995.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$575.4M
$948.8M
Total Assets
$1.3B
$1.3B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CTO
CTO
FLY
FLY
Q1 26
$8.3M
Q4 25
$6.5M
Q3 25
$9.3M
$995.2M
Q2 25
$8.6M
$205.3M
Q1 25
$8.4M
Q4 24
$9.0M
Q3 24
$8.2M
$26.4M
Q2 24
$4.8M
$21.9M
Total Debt
CTO
CTO
FLY
FLY
Q1 26
Q4 25
$616.3M
Q3 25
$604.2M
Q2 25
$605.4M
$136.1M
Q1 25
$602.2M
Q4 24
$519.0M
Q3 24
$526.8M
Q2 24
$482.7M
Stockholders' Equity
CTO
CTO
FLY
FLY
Q1 26
$575.4M
Q4 25
$567.3M
Q3 25
$557.3M
$948.8M
Q2 25
$574.1M
$-918.0M
Q1 25
$593.9M
Q4 24
$612.8M
Q3 24
$595.8M
$-665.5M
Q2 24
$491.8M
$-620.0M
Total Assets
CTO
CTO
FLY
FLY
Q1 26
$1.3B
Q4 25
$1.3B
Q3 25
$1.2B
$1.3B
Q2 25
$1.2B
$466.8M
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.0B
Debt / Equity
CTO
CTO
FLY
FLY
Q1 26
Q4 25
1.09×
Q3 25
1.08×
Q2 25
1.05×
Q1 25
1.01×
Q4 24
0.85×
Q3 24
0.88×
Q2 24
0.98×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CTO
CTO
FLY
FLY
Operating Cash FlowLast quarter
$-53.0M
Free Cash FlowOCF − Capex
$-62.0M
FCF MarginFCF / Revenue
-201.3%
Capex IntensityCapex / Revenue
29.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CTO
CTO
FLY
FLY
Q1 26
Q4 25
$64.6M
Q3 25
$25.5M
$-53.0M
Q2 25
$21.9M
Q1 25
$10.3M
Q4 24
$59.9M
Q3 24
$21.2M
Q2 24
$12.9M
Free Cash Flow
CTO
CTO
FLY
FLY
Q1 26
Q4 25
Q3 25
$-62.0M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
FCF Margin
CTO
CTO
FLY
FLY
Q1 26
Q4 25
Q3 25
-201.3%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Capex Intensity
CTO
CTO
FLY
FLY
Q1 26
Q4 25
Q3 25
29.0%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Cash Conversion
CTO
CTO
FLY
FLY
Q1 26
Q4 25
2.28×
Q3 25
8.75×
Q2 25
Q1 25
4.56×
Q4 24
Q3 24
3.40×
Q2 24
10.89×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CTO
CTO

Segment breakdown not available.

FLY
FLY

Spacecraft Solutions Revenue$21.4M69%
Launch Revenue$9.4M31%

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