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Side-by-side financial comparison of Douglas Elliman Inc. (DOUG) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
Douglas Elliman Inc. is the larger business by last-quarter revenue ($245.4M vs $165.3M, roughly 1.5× INDEPENDENCE REALTY TRUST, INC.). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs 0.9%). Over the past eight quarters, Douglas Elliman Inc.'s revenue compounded faster (10.7% CAGR vs 2.2%).
Douglas Elliman Inc. is a leading U.S.-based residential real estate brokerage firm. It offers luxury property sales, rentals, property management, and advisory solutions, serving high-net-worth clients across key metro markets including New York, California, Florida, and Texas.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
DOUG vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $245.4M | $165.3M |
| Net Profit | $68.6M | — |
| Gross Margin | — | — |
| Operating Margin | 27.3% | — |
| Net Margin | 27.9% | — |
| Revenue YoY | 0.9% | 2.5% |
| Net Profit YoY | 1243.4% | — |
| EPS (diluted) | $0.80 | $0.00 |
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.
| Q1 26 | — | $165.3M | ||
| Q4 25 | $245.4M | $167.1M | ||
| Q3 25 | $262.8M | $167.1M | ||
| Q2 25 | $271.4M | $162.2M | ||
| Q1 25 | $253.4M | $161.2M | ||
| Q4 24 | $243.3M | $161.0M | ||
| Q3 24 | $266.3M | $160.1M | ||
| Q2 24 | $285.8M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | $68.6M | $33.3M | ||
| Q3 25 | $-24.7M | $6.9M | ||
| Q2 25 | $-22.7M | $8.0M | ||
| Q1 25 | $-6.0M | $8.4M | ||
| Q4 24 | $-6.0M | $-1.0M | ||
| Q3 24 | $-27.2M | $12.4M | ||
| Q2 24 | $-1.7M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | 27.3% | — | ||
| Q3 25 | -4.1% | — | ||
| Q2 25 | -2.0% | — | ||
| Q1 25 | -2.1% | — | ||
| Q4 24 | -6.7% | — | ||
| Q3 24 | -2.8% | — | ||
| Q2 24 | -1.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.9% | 19.9% | ||
| Q3 25 | -9.4% | 4.1% | ||
| Q2 25 | -8.4% | 5.0% | ||
| Q1 25 | -2.4% | 5.2% | ||
| Q4 24 | -2.5% | -0.6% | ||
| Q3 24 | -10.2% | 7.7% | ||
| Q2 24 | -0.6% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $0.80 | $0.14 | ||
| Q3 25 | $-0.29 | $0.03 | ||
| Q2 25 | $-0.27 | $0.03 | ||
| Q1 25 | $-0.07 | $0.04 | ||
| Q4 24 | $-0.06 | $-0.01 | ||
| Q3 24 | $-0.33 | $0.05 | ||
| Q2 24 | $-0.02 | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $115.5M | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $183.9M | $3.4B |
| Total Assets | $444.4M | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $115.5M | $23.6M | ||
| Q3 25 | $143.0M | $23.3M | ||
| Q2 25 | $136.3M | $19.5M | ||
| Q1 25 | $136.8M | $29.1M | ||
| Q4 24 | $145.5M | $21.2M | ||
| Q3 24 | $151.4M | $17.6M | ||
| Q2 24 | $92.9M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $183.9M | $3.5B | ||
| Q3 25 | $115.1M | $3.5B | ||
| Q2 25 | $137.6M | $3.4B | ||
| Q1 25 | $158.2M | $3.5B | ||
| Q4 24 | $162.2M | $3.4B | ||
| Q3 24 | $173.6M | $3.4B | ||
| Q2 24 | $196.9M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $444.4M | $6.0B | ||
| Q3 25 | $480.6M | $6.1B | ||
| Q2 25 | $489.0M | $6.0B | ||
| Q1 25 | $493.9M | $6.0B | ||
| Q4 24 | $493.9M | $6.1B | ||
| Q3 24 | $502.7M | $5.9B | ||
| Q2 24 | $463.9M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | $-14.4M | — |
| Free Cash FlowOCF − Capex | $-14.7M | — |
| FCF MarginFCF / Revenue | -6.0% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | -0.21× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-17.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-14.4M | $282.1M | ||
| Q3 25 | $5.5M | $79.3M | ||
| Q2 25 | $642.0K | $82.2M | ||
| Q1 25 | $-5.6M | $60.4M | ||
| Q4 24 | $-9.0M | $259.8M | ||
| Q3 24 | $9.0M | $69.2M | ||
| Q2 24 | $1.3M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-14.7M | — | ||
| Q3 25 | $4.7M | — | ||
| Q2 25 | $-575.0K | — | ||
| Q1 25 | $-6.7M | — | ||
| Q4 24 | $-10.2M | — | ||
| Q3 24 | $7.7M | — | ||
| Q2 24 | $432.0K | — |
| Q1 26 | — | — | ||
| Q4 25 | -6.0% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -2.6% | — | ||
| Q4 24 | -4.2% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 0.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | -0.21× | 8.48× | ||
| Q3 25 | — | 11.51× | ||
| Q2 25 | — | 10.22× | ||
| Q1 25 | — | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.60× | ||
| Q2 24 | — | 8.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
