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Side-by-side financial comparison of DENNY'S Corp (DENN) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $113.2M, roughly 1.7× DENNY'S Corp). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 0.6%, a 11.7% gap on every dollar of revenue. On growth, DENNY'S Corp posted the faster year-over-year revenue change (1.3% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $16.0M). Over the past eight quarters, DENNY'S Corp's revenue compounded faster (-0.9% CAGR vs -2.4%).
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.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
DENN vs NSA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.2M | $187.0M |
| Net Profit | $632.0K | $22.9M |
| Gross Margin | — | 72.5% |
| Operating Margin | 9.2% | 20.2% |
| Net Margin | 0.6% | 12.2% |
| Revenue YoY | 1.3% | -1.6% |
| Net Profit YoY | -90.3% | 36.8% |
| EPS (diluted) | $0.01 | $0.23 |
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 | — | $187.0M | ||
| Q3 25 | $113.2M | $188.7M | ||
| Q2 25 | $117.7M | $188.8M | ||
| Q1 25 | $111.6M | $188.4M | ||
| Q4 24 | $114.7M | $190.1M | ||
| Q3 24 | $111.8M | $193.6M | ||
| Q2 24 | $115.9M | $190.4M | ||
| Q1 24 | $110.0M | $196.1M |
| Q4 25 | — | $22.9M | ||
| Q3 25 | $632.0K | $18.4M | ||
| Q2 25 | $2.5M | $19.5M | ||
| Q1 25 | $326.0K | $13.0M | ||
| Q4 24 | $6.8M | $16.7M | ||
| Q3 24 | $6.5M | $18.7M | ||
| Q2 24 | $3.6M | $17.1M | ||
| Q1 24 | $4.7M | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 70.5% | ||
| Q1 25 | — | 70.7% | ||
| Q4 24 | — | 72.5% | ||
| Q3 24 | — | 72.8% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | — | 20.2% | ||
| Q3 25 | 9.2% | 15.8% | ||
| Q2 25 | 7.3% | 16.5% | ||
| Q1 25 | 4.7% | 11.0% | ||
| Q4 24 | 12.6% | 14.5% | ||
| Q3 24 | 10.5% | 15.8% | ||
| Q2 24 | 7.9% | 17.2% | ||
| Q1 24 | 9.1% | 48.9% |
| Q4 25 | — | 12.2% | ||
| Q3 25 | 0.6% | 9.8% | ||
| Q2 25 | 2.1% | 10.3% | ||
| Q1 25 | 0.3% | 6.9% | ||
| Q4 24 | 5.9% | 8.8% | ||
| Q3 24 | 5.8% | 9.7% | ||
| Q2 24 | 3.1% | 9.0% | ||
| Q1 24 | 4.3% | 30.1% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | $0.01 | $0.17 | ||
| Q2 25 | $0.05 | $0.19 | ||
| Q1 25 | $0.01 | $0.10 | ||
| Q4 24 | $0.13 | $0.19 | ||
| Q3 24 | $0.12 | $0.18 | ||
| Q2 24 | $0.07 | $0.16 | ||
| Q1 24 | $0.09 | $0.65 |
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 | $946.0M |
| Total Assets | $502.9M | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | — | $26.3M | ||
| Q2 25 | — | $26.1M | ||
| Q1 25 | $1.1M | $19.3M | ||
| Q4 24 | $100.0K | $50.4M | ||
| Q3 24 | $2.9M | $69.9M | ||
| Q2 24 | $2.8M | $59.0M | ||
| Q1 24 | $2.8M | $64.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $270.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $946.0M | ||
| Q3 25 | $-32.7M | $973.1M | ||
| Q2 25 | $-34.6M | $1.0B | ||
| Q1 25 | $-36.4M | $1.0B | ||
| Q4 24 | $-34.0M | $1.1B | ||
| Q3 24 | $-54.5M | $986.9M | ||
| Q2 24 | $-53.2M | $1.2B | ||
| Q1 24 | $-55.7M | $1.3B |
| Q4 25 | — | $5.1B | ||
| Q3 25 | $502.9M | $5.1B | ||
| Q2 25 | $491.1M | $5.2B | ||
| Q1 25 | $488.1M | $5.3B | ||
| Q4 24 | $496.3M | $5.4B | ||
| Q3 24 | $461.6M | $5.4B | ||
| Q2 24 | $459.9M | $5.3B | ||
| Q1 24 | $460.4M | $5.4B |
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 | $338.5M |
| Free Cash FlowOCF − Capex | $16.0M | $299.8M |
| FCF MarginFCF / Revenue | 14.1% | 160.3% |
| Capex IntensityCapex / Revenue | 0.0% | 20.7% |
| Cash ConversionOCF / Net Profit | 25.28× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | — | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $338.5M | ||
| Q3 25 | $16.0M | $100.2M | ||
| Q2 25 | $9.4M | $79.9M | ||
| Q1 25 | $5.0M | $85.6M | ||
| Q4 24 | $8.5M | $363.1M | ||
| Q3 24 | $6.6M | $105.7M | ||
| Q2 24 | $14.2M | $83.2M | ||
| Q1 24 | $215.0K | $94.0M |
| Q4 25 | — | $299.8M | ||
| Q3 25 | $16.0M | $88.0M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $79.9M | ||
| Q4 24 | — | $344.4M | ||
| Q3 24 | — | $101.8M | ||
| Q2 24 | — | $79.5M | ||
| Q1 24 | — | $88.6M |
| Q4 25 | — | 160.3% | ||
| Q3 25 | 14.1% | 46.6% | ||
| Q2 25 | — | 39.1% | ||
| Q1 25 | — | 42.4% | ||
| Q4 24 | — | 181.2% | ||
| Q3 24 | — | 52.6% | ||
| Q2 24 | — | 41.7% | ||
| Q1 24 | — | 45.2% |
| Q4 25 | — | 20.7% | ||
| Q3 25 | 0.0% | 6.5% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | 0.0% | 2.0% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | 14.79× | ||
| Q3 25 | 25.28× | 5.44× | ||
| Q2 25 | 3.79× | 4.10× | ||
| Q1 25 | 15.38× | 6.59× | ||
| Q4 24 | 1.26× | 21.70× | ||
| Q3 24 | 1.01× | 5.65× | ||
| Q2 24 | 3.97× | 4.88× | ||
| Q1 24 | 0.05× | 1.59× |
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% |
NSA
Segment breakdown not available.
