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Side-by-side financial comparison of DHT Holdings, Inc. (DHT) and FIRST INDUSTRIAL REALTY TRUST INC (FR). Click either name above to swap in a different company.

FIRST INDUSTRIAL REALTY TRUST INC is the larger business by last-quarter revenue ($194.8M vs $107.3M, roughly 1.8× DHT Holdings, Inc.). FIRST INDUSTRIAL REALTY TRUST INC runs the higher net margin — 75.9% vs 41.7%, a 34.2% gap on every dollar of revenue. On growth, FIRST INDUSTRIAL REALTY TRUST INC posted the faster year-over-year revenue change (10.0% vs -24.5%).

DHT Holdings, Inc. is an independent international crude oil tanker operator that owns and manages a fleet of very large crude carriers. It offers marine transportation services for crude oil across major global trade routes, serving clients including leading oil producers, refineries, and commodity trading enterprises worldwide.

First Potomac Realty Trust was a real estate investment trust that invested in industrial properties and business parks in the suburbs of the Washington metropolitan area. In 2017, it was acquired by Government Properties Income Trust.

DHT vs FR — Head-to-Head

Bigger by revenue
FR
FR
1.8× larger
FR
$194.8M
$107.3M
DHT
Growing faster (revenue YoY)
FR
FR
+34.5% gap
FR
10.0%
-24.5%
DHT
Higher net margin
FR
FR
34.2% more per $
FR
75.9%
41.7%
DHT

Income Statement — Q3 FY2025 vs Q1 FY2026

Metric
DHT
DHT
FR
FR
Revenue
$107.3M
$194.8M
Net Profit
$44.8M
$147.9M
Gross Margin
Operating Margin
44.2%
Net Margin
41.7%
75.9%
Revenue YoY
-24.5%
10.0%
Net Profit YoY
27.3%
179.7%
EPS (diluted)
$0.28
$1.08

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
DHT
DHT
FR
FR
Q1 26
$194.8M
Q4 25
$188.4M
Q3 25
$107.3M
$181.4M
Q2 25
$180.2M
Q1 25
$177.1M
Q4 24
$175.6M
Q3 24
$142.1M
$167.6M
Q2 24
$164.1M
Net Profit
DHT
DHT
FR
FR
Q1 26
$147.9M
Q4 25
$78.8M
Q3 25
$44.8M
$65.3M
Q2 25
$55.2M
Q1 25
$48.1M
Q4 24
$68.4M
Q3 24
$35.2M
$99.4M
Q2 24
$51.3M
Operating Margin
DHT
DHT
FR
FR
Q1 26
Q4 25
34.6%
Q3 25
44.2%
37.0%
Q2 25
31.7%
Q1 25
31.2%
Q4 24
40.1%
Q3 24
29.7%
62.6%
Q2 24
31.8%
Net Margin
DHT
DHT
FR
FR
Q1 26
75.9%
Q4 25
41.8%
Q3 25
41.7%
36.0%
Q2 25
30.6%
Q1 25
27.2%
Q4 24
39.0%
Q3 24
24.8%
59.3%
Q2 24
31.3%
EPS (diluted)
DHT
DHT
FR
FR
Q1 26
$1.08
Q4 25
$0.60
Q3 25
$0.28
$0.49
Q2 25
$0.42
Q1 25
$0.36
Q4 24
$0.51
Q3 24
$0.22
$0.75
Q2 24
$0.39

Balance Sheet & Financial Strength

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

Metric
DHT
DHT
FR
FR
Cash + ST InvestmentsLiquidity on hand
$81.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.1B
$2.9B
Total Assets
$1.4B
$5.8B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DHT
DHT
FR
FR
Q1 26
Q4 25
$78.0M
Q3 25
$81.3M
$33.5M
Q2 25
$34.9M
Q1 25
$35.7M
Q4 24
$44.5M
Q3 24
$73.8M
$47.1M
Q2 24
$38.5M
Stockholders' Equity
DHT
DHT
FR
FR
Q1 26
$2.9B
Q4 25
$2.7B
Q3 25
$1.1B
$2.7B
Q2 25
$2.6B
Q1 25
$2.7B
Q4 24
$2.7B
Q3 24
$1.0B
$2.6B
Q2 24
$2.6B
Total Assets
DHT
DHT
FR
FR
Q1 26
$5.8B
Q4 25
$5.7B
Q3 25
$1.4B
$5.5B
Q2 25
$5.5B
Q1 25
$5.4B
Q4 24
$5.3B
Q3 24
$1.5B
$5.2B
Q2 24
$5.2B

Cash Flow & Capital Efficiency

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

Metric
DHT
DHT
FR
FR
Operating Cash FlowLast quarter
$60.9M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.36×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DHT
DHT
FR
FR
Q1 26
Q4 25
$461.3M
Q3 25
$60.9M
$124.6M
Q2 25
$126.1M
Q1 25
$88.6M
Q4 24
$352.5M
Q3 24
$80.1M
$105.5M
Q2 24
$107.7M
Cash Conversion
DHT
DHT
FR
FR
Q1 26
Q4 25
5.85×
Q3 25
1.36×
1.91×
Q2 25
2.28×
Q1 25
1.84×
Q4 24
5.15×
Q3 24
2.28×
1.06×
Q2 24
2.10×

Financial Flow Comparison

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

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