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Side-by-side financial comparison of Doximity, Inc. (DOCS) 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 $185.1M, roughly 1.0× Doximity, Inc.). Doximity, Inc. runs the higher net margin — 33.3% vs 12.2%, a 21.0% gap on every dollar of revenue. On growth, Doximity, Inc. posted the faster year-over-year revenue change (9.8% vs -1.6%). Over the past eight quarters, Doximity, Inc.'s revenue compounded faster (25.2% CAGR vs -2.4%).
Doximity is an online networking service for medical professionals. Launched in 2010, the platform offers its members curated medical news, telehealth tools, and case collaboration.
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.
DOCS vs NSA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $187.0M |
| Net Profit | $61.6M | $22.9M |
| Gross Margin | 89.9% | 72.5% |
| Operating Margin | 38.9% | 20.2% |
| Net Margin | 33.3% | 12.2% |
| Revenue YoY | 9.8% | -1.6% |
| Net Profit YoY | -18.1% | 36.8% |
| EPS (diluted) | $0.31 | $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 | $185.1M | $187.0M | ||
| Q3 25 | $168.5M | $188.7M | ||
| Q2 25 | $145.9M | $188.8M | ||
| Q1 25 | $138.3M | $188.4M | ||
| Q4 24 | $168.6M | $190.1M | ||
| Q3 24 | $136.8M | $193.6M | ||
| Q2 24 | $126.7M | $190.4M | ||
| Q1 24 | $118.1M | $196.1M |
| Q4 25 | $61.6M | $22.9M | ||
| Q3 25 | $62.1M | $18.4M | ||
| Q2 25 | $53.3M | $19.5M | ||
| Q1 25 | $62.5M | $13.0M | ||
| Q4 24 | $75.2M | $16.7M | ||
| Q3 24 | $44.2M | $18.7M | ||
| Q2 24 | $41.4M | $17.1M | ||
| Q1 24 | $40.6M | $59.0M |
| Q4 25 | 89.9% | 72.5% | ||
| Q3 25 | 90.3% | 70.7% | ||
| Q2 25 | 89.2% | 70.5% | ||
| Q1 25 | 89.5% | 70.7% | ||
| Q4 24 | 91.6% | 72.5% | ||
| Q3 24 | 90.0% | 72.8% | ||
| Q2 24 | 89.3% | 72.6% | ||
| Q1 24 | 89.4% | 72.1% |
| Q4 25 | 38.9% | 20.2% | ||
| Q3 25 | 37.8% | 15.8% | ||
| Q2 25 | 37.4% | 16.5% | ||
| Q1 25 | 35.2% | 11.0% | ||
| Q4 24 | 47.4% | 14.5% | ||
| Q3 24 | 38.8% | 15.8% | ||
| Q2 24 | 36.4% | 17.2% | ||
| Q1 24 | 35.5% | 48.9% |
| Q4 25 | 33.3% | 12.2% | ||
| Q3 25 | 36.8% | 9.8% | ||
| Q2 25 | 36.5% | 10.3% | ||
| Q1 25 | 45.2% | 6.9% | ||
| Q4 24 | 44.6% | 8.8% | ||
| Q3 24 | 32.3% | 9.7% | ||
| Q2 24 | 32.7% | 9.0% | ||
| Q1 24 | 34.4% | 30.1% |
| Q4 25 | $0.31 | $0.23 | ||
| Q3 25 | $0.31 | $0.17 | ||
| Q2 25 | $0.27 | $0.19 | ||
| Q1 25 | $0.31 | $0.10 | ||
| Q4 24 | $0.37 | $0.19 | ||
| Q3 24 | $0.22 | $0.18 | ||
| Q2 24 | $0.21 | $0.16 | ||
| Q1 24 | $0.20 | $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 | $64.8M | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $979.3M | $946.0M |
| Total Assets | $1.2B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | $23.3M | ||
| Q3 25 | $169.2M | $26.3M | ||
| Q2 25 | $137.3M | $26.1M | ||
| Q1 25 | $209.6M | $19.3M | ||
| Q4 24 | $165.3M | $50.4M | ||
| Q3 24 | $184.2M | $69.9M | ||
| Q2 24 | $111.4M | $59.0M | ||
| Q1 24 | $96.8M | $64.2M |
| Q4 25 | $979.3M | $946.0M | ||
| Q3 25 | $1.1B | $973.1M | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $961.2M | $986.9M | ||
| Q2 24 | $913.6M | $1.2B | ||
| Q1 24 | $901.4M | $1.3B |
| Q4 25 | $1.2B | $5.1B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.2B | $5.2B | ||
| Q1 25 | $1.3B | $5.3B | ||
| Q4 24 | $1.2B | $5.4B | ||
| Q3 24 | $1.1B | $5.4B | ||
| Q2 24 | $1.1B | $5.3B | ||
| Q1 24 | $1.1B | $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 | $60.9M | $338.5M |
| Free Cash FlowOCF − Capex | — | $299.8M |
| FCF MarginFCF / Revenue | — | 160.3% |
| Capex IntensityCapex / Revenue | — | 20.7% |
| Cash ConversionOCF / Net Profit | 0.99× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | — | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $338.5M | ||
| Q3 25 | $93.9M | $100.2M | ||
| Q2 25 | $62.1M | $79.9M | ||
| Q1 25 | $98.5M | $85.6M | ||
| Q4 24 | $65.2M | $363.1M | ||
| Q3 24 | $68.3M | $105.7M | ||
| Q2 24 | $41.2M | $83.2M | ||
| Q1 24 | $63.9M | $94.0M |
| Q4 25 | — | $299.8M | ||
| Q3 25 | — | $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 | — | 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 | — | 6.5% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | 0.0% | 3.0% | ||
| Q4 24 | 0.0% | 9.8% | ||
| Q3 24 | 0.0% | 2.0% | ||
| Q2 24 | 0.0% | 1.9% | ||
| Q1 24 | 0.0% | 2.7% |
| Q4 25 | 0.99× | 14.79× | ||
| Q3 25 | 1.51× | 5.44× | ||
| Q2 25 | 1.16× | 4.10× | ||
| Q1 25 | 1.58× | 6.59× | ||
| Q4 24 | 0.87× | 21.70× | ||
| Q3 24 | 1.55× | 5.65× | ||
| Q2 24 | 1.00× | 4.88× | ||
| Q1 24 | 1.57× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
NSA
Segment breakdown not available.
