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Side-by-side financial comparison of DENNY'S Corp (DENN) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $113.2M, roughly 1.5× DENNY'S Corp). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs 1.3%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.2% CAGR vs -0.9%).
Denny's is an American table service diner-style restaurant chain. It operates over 1,400 restaurants in the United States, Canada, México, Puerto Rico, and several other international locations.
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.
DENN vs IRT — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $113.2M | $165.3M |
| Net Profit | $632.0K | — |
| Gross Margin | — | — |
| Operating Margin | 9.2% | — |
| Net Margin | 0.6% | — |
| Revenue YoY | 1.3% | 2.5% |
| Net Profit YoY | -90.3% | — |
| EPS (diluted) | $0.01 | $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 | — | $167.1M | ||
| Q3 25 | $113.2M | $167.1M | ||
| Q2 25 | $117.7M | $162.2M | ||
| Q1 25 | $111.6M | $161.2M | ||
| Q4 24 | $114.7M | $161.0M | ||
| Q3 24 | $111.8M | $160.1M | ||
| Q2 24 | $115.9M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $33.3M | ||
| Q3 25 | $632.0K | $6.9M | ||
| Q2 25 | $2.5M | $8.0M | ||
| Q1 25 | $326.0K | $8.4M | ||
| Q4 24 | $6.8M | $-1.0M | ||
| Q3 24 | $6.5M | $12.4M | ||
| Q2 24 | $3.6M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 7.3% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 7.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | 0.6% | 4.1% | ||
| Q2 25 | 2.1% | 5.0% | ||
| Q1 25 | 0.3% | 5.2% | ||
| Q4 24 | 5.9% | -0.6% | ||
| Q3 24 | 5.8% | 7.7% | ||
| Q2 24 | 3.1% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | — | $0.14 | ||
| Q3 25 | $0.01 | $0.03 | ||
| Q2 25 | $0.05 | $0.03 | ||
| Q1 25 | $0.01 | $0.04 | ||
| Q4 24 | $0.13 | $-0.01 | ||
| Q3 24 | $0.12 | $0.05 | ||
| Q2 24 | $0.07 | $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 | — | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-32.7M | $3.4B |
| Total Assets | $502.9M | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | — | $23.6M | ||
| Q3 25 | — | $23.3M | ||
| Q2 25 | — | $19.5M | ||
| Q1 25 | $1.1M | $29.1M | ||
| Q4 24 | $100.0K | $21.2M | ||
| Q3 24 | $2.9M | $17.6M | ||
| Q2 24 | $2.8M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $270.6M | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | — | $3.5B | ||
| Q3 25 | $-32.7M | $3.5B | ||
| Q2 25 | $-34.6M | $3.4B | ||
| Q1 25 | $-36.4M | $3.5B | ||
| Q4 24 | $-34.0M | $3.4B | ||
| Q3 24 | $-54.5M | $3.4B | ||
| Q2 24 | $-53.2M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | — | $6.0B | ||
| Q3 25 | $502.9M | $6.1B | ||
| Q2 25 | $491.1M | $6.0B | ||
| Q1 25 | $488.1M | $6.0B | ||
| Q4 24 | $496.3M | $6.1B | ||
| Q3 24 | $461.6M | $5.9B | ||
| Q2 24 | $459.9M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 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 | $16.0M | — |
| Free Cash FlowOCF − Capex | $16.0M | — |
| FCF MarginFCF / Revenue | 14.1% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | 25.28× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $282.1M | ||
| Q3 25 | $16.0M | $79.3M | ||
| Q2 25 | $9.4M | $82.2M | ||
| Q1 25 | $5.0M | $60.4M | ||
| Q4 24 | $8.5M | $259.8M | ||
| Q3 24 | $6.6M | $69.2M | ||
| Q2 24 | $14.2M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $16.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 14.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.48× | ||
| Q3 25 | 25.28× | 11.51× | ||
| Q2 25 | 3.79× | 10.22× | ||
| Q1 25 | 15.38× | 7.23× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.01× | 5.60× | ||
| Q2 24 | 3.97× | 8.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DENN
| Franchisor Owned Outlet | $57.4M | 51% |
| Royalty | $27.7M | 25% |
| Advertising | $18.6M | 16% |
| Occupancy | $7.7M | 7% |
| Initial And Other Fees | $1.7M | 1% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
