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Side-by-side financial comparison of dLocal Ltd (DLO) and Essex Property Trust (ESS). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $337.9M, roughly 1.4× dLocal Ltd). Essex Property Trust runs the higher net margin — 17.9% vs 16.5%, a 1.4% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 5.5%).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
DLO vs ESS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $479.6M |
| Net Profit | $55.6M | $85.7M |
| Gross Margin | 34.3% | 70.0% |
| Operating Margin | 18.6% | 31.7% |
| Net Margin | 16.5% | 17.9% |
| Revenue YoY | 65.2% | 5.5% |
| Net Profit YoY | 87.3% | -71.6% |
| EPS (diluted) | $0.18 | $1.24 |
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 | $337.9M | $479.6M | ||
| Q3 25 | $282.5M | $473.3M | ||
| Q2 25 | — | $469.8M | ||
| Q1 25 | — | $464.6M | ||
| Q4 24 | $204.5M | $454.5M | ||
| Q3 24 | $185.8M | $450.7M | ||
| Q2 24 | — | $442.4M | ||
| Q1 24 | — | $426.9M |
| Q4 25 | $55.6M | $85.7M | ||
| Q3 25 | $141.3M | $172.7M | ||
| Q2 25 | — | $231.5M | ||
| Q1 25 | — | $212.8M | ||
| Q4 24 | $29.7M | $301.7M | ||
| Q3 24 | $90.8M | $125.5M | ||
| Q2 24 | — | $99.0M | ||
| Q1 24 | — | $285.1M |
| Q4 25 | 34.3% | 70.0% | ||
| Q3 25 | 36.5% | 69.2% | ||
| Q2 25 | — | 70.7% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | 40.9% | 70.0% | ||
| Q3 24 | 42.1% | 69.5% | ||
| Q2 24 | — | 70.8% | ||
| Q1 24 | — | 69.7% |
| Q4 25 | 18.6% | 31.7% | ||
| Q3 25 | 19.7% | 44.5% | ||
| Q2 25 | — | 59.5% | ||
| Q1 25 | — | 55.3% | ||
| Q4 24 | 20.7% | 67.0% | ||
| Q3 24 | 22.1% | 28.6% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | — | 31.0% |
| Q4 25 | 16.5% | 17.9% | ||
| Q3 25 | 50.0% | 36.5% | ||
| Q2 25 | — | 49.3% | ||
| Q1 25 | — | 45.8% | ||
| Q4 24 | 14.5% | 66.4% | ||
| Q3 24 | 48.9% | 27.8% | ||
| Q2 24 | — | 22.4% | ||
| Q1 24 | — | 66.8% |
| Q4 25 | $0.18 | $1.24 | ||
| Q3 25 | $0.17 | $2.56 | ||
| Q2 25 | — | $3.44 | ||
| Q1 25 | — | $3.16 | ||
| Q4 24 | $0.09 | $4.00 | ||
| Q3 24 | $0.09 | $1.84 | ||
| Q2 24 | — | $1.45 | ||
| Q1 24 | — | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $76.2M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $5.5B |
| Total Assets | $1.5B | $13.2B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $76.2M | ||
| Q3 25 | $604.5M | $66.0M | ||
| Q2 25 | — | $58.7M | ||
| Q1 25 | — | $98.7M | ||
| Q4 24 | $425.2M | $66.8M | ||
| Q3 24 | $560.5M | $71.3M | ||
| Q2 24 | — | $55.2M | ||
| Q1 24 | — | $499.0M |
| Q4 25 | $86.7M | — | ||
| Q3 25 | $63.1M | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | $39.8M | — | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | $569.4M | $5.5B | ||
| Q3 25 | $504.7M | $5.6B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | $489.0M | $5.5B | ||
| Q3 24 | $457.0M | $5.4B | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | $1.5B | $13.2B | ||
| Q3 25 | $1.4B | $13.2B | ||
| Q2 25 | — | $13.2B | ||
| Q1 25 | — | $13.2B | ||
| Q4 24 | $1.2B | $12.9B | ||
| Q3 24 | — | $12.6B | ||
| Q2 24 | — | $12.5B | ||
| Q1 24 | — | $12.9B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | 1.15× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 1.19× |
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 | $100.4M | $1.1B |
| Free Cash FlowOCF − Capex | $99.8M | — |
| FCF MarginFCF / Revenue | 29.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.80× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $1.1B | ||
| Q3 25 | $315.0M | $342.6M | ||
| Q2 25 | — | $216.1M | ||
| Q1 25 | — | $281.5M | ||
| Q4 24 | $-141.1M | $1.1B | ||
| Q3 24 | $108.3M | $316.2M | ||
| Q2 24 | — | $218.9M | ||
| Q1 24 | — | $314.9M |
| Q4 25 | $99.8M | — | ||
| Q3 25 | $313.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-141.6M | — | ||
| Q3 24 | $107.1M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 29.5% | — | ||
| Q3 25 | 110.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -69.2% | — | ||
| Q3 24 | 57.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.80× | 12.53× | ||
| Q3 25 | 2.23× | 1.98× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | -4.75× | 3.54× | ||
| Q3 24 | 1.19× | 2.52× | ||
| Q2 24 | — | 2.21× | ||
| Q1 24 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
