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Side-by-side financial comparison of DHT Holdings, Inc. (DHT) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

DHT Holdings, Inc. is the larger business by last-quarter revenue ($107.3M vs $66.7M, roughly 1.6× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 41.7%, a 6.0% gap on every dollar of revenue. On growth, INNOVATIVE INDUSTRIAL PROPERTIES INC posted the faster year-over-year revenue change (-13.1% 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.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

DHT vs IIPR — Head-to-Head

Bigger by revenue
DHT
DHT
1.6× larger
DHT
$107.3M
$66.7M
IIPR
Growing faster (revenue YoY)
IIPR
IIPR
+11.3% gap
IIPR
-13.1%
-24.5%
DHT
Higher net margin
IIPR
IIPR
6.0% more per $
IIPR
47.8%
41.7%
DHT

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
DHT
DHT
IIPR
IIPR
Revenue
$107.3M
$66.7M
Net Profit
$44.8M
$31.8M
Gross Margin
Operating Margin
44.2%
47.8%
Net Margin
41.7%
47.8%
Revenue YoY
-24.5%
-13.1%
Net Profit YoY
27.3%
-20.4%
EPS (diluted)
$0.28
$1.07

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
IIPR
IIPR
Q4 25
$66.7M
Q3 25
$107.3M
$64.7M
Q2 25
$62.9M
Q1 25
$71.7M
Q4 24
$76.7M
Q3 24
$142.1M
$76.5M
Q2 24
$79.8M
Q1 24
$75.5M
Net Profit
DHT
DHT
IIPR
IIPR
Q4 25
$31.8M
Q3 25
$44.8M
$29.3M
Q2 25
$26.0M
Q1 25
$31.1M
Q4 24
$40.0M
Q3 24
$35.2M
$40.2M
Q2 24
$42.0M
Q1 24
$39.4M
Operating Margin
DHT
DHT
IIPR
IIPR
Q4 25
47.8%
Q3 25
44.2%
45.5%
Q2 25
45.9%
Q1 25
47.4%
Q4 24
54.7%
Q3 24
29.7%
54.8%
Q2 24
53.1%
Q1 24
55.7%
Net Margin
DHT
DHT
IIPR
IIPR
Q4 25
47.8%
Q3 25
41.7%
45.3%
Q2 25
41.4%
Q1 25
43.3%
Q4 24
52.2%
Q3 24
24.8%
52.6%
Q2 24
52.6%
Q1 24
52.3%
EPS (diluted)
DHT
DHT
IIPR
IIPR
Q4 25
$1.07
Q3 25
$0.28
$0.97
Q2 25
$0.86
Q1 25
$1.03
Q4 24
$1.35
Q3 24
$0.22
$1.37
Q2 24
$1.44
Q1 24
$1.36

Balance Sheet & Financial Strength

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

Metric
DHT
DHT
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$81.3M
$47.6M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.1B
$1.8B
Total Assets
$1.4B
$2.4B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DHT
DHT
IIPR
IIPR
Q4 25
$47.6M
Q3 25
$81.3M
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$73.8M
$172.4M
Q2 24
$160.9M
Q1 24
$173.5M
Total Debt
DHT
DHT
IIPR
IIPR
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
DHT
DHT
IIPR
IIPR
Q4 25
$1.8B
Q3 25
$1.1B
$1.9B
Q2 25
$1.9B
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.0B
$1.9B
Q2 24
$1.9B
Q1 24
$2.0B
Total Assets
DHT
DHT
IIPR
IIPR
Q4 25
$2.4B
Q3 25
$1.4B
$2.3B
Q2 25
$2.3B
Q1 25
$2.4B
Q4 24
$2.4B
Q3 24
$1.5B
$2.4B
Q2 24
$2.4B
Q1 24
$2.4B
Debt / Equity
DHT
DHT
IIPR
IIPR
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

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
IIPR
IIPR
Operating Cash FlowLast quarter
$60.9M
$198.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.36×
6.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DHT
DHT
IIPR
IIPR
Q4 25
$198.2M
Q3 25
$60.9M
$45.6M
Q2 25
$48.4M
Q1 25
$54.2M
Q4 24
$258.4M
Q3 24
$80.1M
$64.9M
Q2 24
$64.2M
Q1 24
$71.6M
Cash Conversion
DHT
DHT
IIPR
IIPR
Q4 25
6.22×
Q3 25
1.36×
1.56×
Q2 25
1.86×
Q1 25
1.75×
Q4 24
6.46×
Q3 24
2.28×
1.61×
Q2 24
1.53×
Q1 24
1.82×

Financial Flow Comparison

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

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