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Side-by-side financial comparison of DiamondRock Hospitality Co (DRH) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $258.2M, roughly 1.5× DiamondRock Hospitality Co). DiamondRock Hospitality Co runs the higher net margin — 5.6% vs -1.9%, a 7.6% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 1.3%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs -8.6%).
DiamondRock Hospitality Co is a US-based real estate investment trust owning and operating a portfolio of premium upscale hotels and resorts. Its properties are mainly located in major urban tourist and business hubs nationwide, catering to both leisure and corporate clientele seeking high-quality accommodation services.
Innovate Corp. is an American public financial services company founded in 1994.
DRH vs VATE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $258.2M | $382.7M |
| Net Profit | $14.5M | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | 11.1% | 3.7% |
| Net Margin | 5.6% | -1.9% |
| Revenue YoY | 1.3% | 61.7% |
| Net Profit YoY | 22.0% | 55.4% |
| EPS (diluted) | $0.07 | $-0.57 |
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 | $258.2M | — | ||
| Q4 25 | $274.5M | $382.7M | ||
| Q3 25 | $285.4M | $347.1M | ||
| Q2 25 | $305.7M | $242.0M | ||
| Q1 25 | $254.9M | $274.2M | ||
| Q4 24 | $279.1M | $236.6M | ||
| Q3 24 | $285.1M | $242.2M | ||
| Q2 24 | $309.3M | $313.1M |
| Q1 26 | $14.5M | — | ||
| Q4 25 | $26.2M | $-7.4M | ||
| Q3 25 | $22.5M | $-8.9M | ||
| Q2 25 | $40.8M | $-19.8M | ||
| Q1 25 | $11.9M | $-24.5M | ||
| Q4 24 | $-11.2M | $-16.6M | ||
| Q3 24 | $26.4M | $-15.0M | ||
| Q2 24 | $24.5M | $14.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% |
| Q1 26 | 11.1% | — | ||
| Q4 25 | 8.9% | 3.7% | ||
| Q3 25 | 8.1% | 1.8% | ||
| Q2 25 | 13.7% | 2.0% | ||
| Q1 25 | 4.3% | 1.2% | ||
| Q4 24 | -3.7% | 1.1% | ||
| Q3 24 | 9.5% | 2.4% | ||
| Q2 24 | 8.4% | 9.2% |
| Q1 26 | 5.6% | — | ||
| Q4 25 | 9.5% | -1.9% | ||
| Q3 25 | 7.9% | -2.6% | ||
| Q2 25 | 13.4% | -8.2% | ||
| Q1 25 | 4.7% | -8.9% | ||
| Q4 24 | -4.0% | -7.0% | ||
| Q3 24 | 9.3% | -6.2% | ||
| Q2 24 | 7.9% | 4.6% |
| Q1 26 | $0.07 | — | ||
| Q4 25 | $0.12 | $-0.57 | ||
| Q3 25 | $0.10 | $-0.71 | ||
| Q2 25 | $0.18 | $-1.67 | ||
| Q1 25 | $0.04 | $-1.89 | ||
| Q4 24 | $-0.06 | $-0.72 | ||
| Q3 24 | $0.11 | $-1.18 | ||
| Q2 24 | $0.10 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $39.3M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $1.4B | $-240.1M |
| Total Assets | $3.0B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.3M | — | ||
| Q4 25 | $68.1M | $112.1M | ||
| Q3 25 | $145.3M | $35.5M | ||
| Q2 25 | $52.4M | $33.4M | ||
| Q1 25 | $100.6M | $33.3M | ||
| Q4 24 | $81.4M | $48.8M | ||
| Q3 24 | $75.3M | $51.0M | ||
| Q2 24 | $125.2M | $80.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $80.3M | ||
| Q3 25 | $1.1B | $97.3M | ||
| Q2 25 | $1.0B | $160.1M | ||
| Q1 25 | $1.1B | $139.9M | ||
| Q4 24 | $1.1B | $500.6M | ||
| Q3 24 | $1.1B | $502.4M | ||
| Q2 24 | $1.2B | $638.3M |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $-240.1M | ||
| Q3 25 | $1.6B | $-233.3M | ||
| Q2 25 | $1.6B | $-224.8M | ||
| Q1 25 | $1.6B | $-204.2M | ||
| Q4 24 | $1.6B | $-180.4M | ||
| Q3 24 | $1.6B | $-163.1M | ||
| Q2 24 | $1.6B | $-149.0M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.0B | $950.1M | ||
| Q3 25 | $3.1B | $913.2M | ||
| Q2 25 | $3.1B | $890.9M | ||
| Q1 25 | $3.1B | $868.0M | ||
| Q4 24 | $3.2B | $891.1M | ||
| Q3 24 | $3.2B | $897.2M | ||
| Q2 24 | $3.2B | $898.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.71× | — |
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 | — | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $67.9M | $101.1M | ||
| Q3 25 | $74.6M | $19.2M | ||
| Q2 25 | $73.6M | $40.4M | ||
| Q1 25 | $27.6M | $-14.1M | ||
| Q4 24 | $75.8M | $41.4M | ||
| Q3 24 | $61.7M | $-28.4M | ||
| Q2 24 | $55.7M | $21.5M |
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | — | ||
| Q3 25 | $54.9M | $19.0M | ||
| Q2 25 | $57.9M | — | ||
| Q1 25 | $2.0M | $-18.8M | ||
| Q4 24 | $52.6M | $34.2M | ||
| Q3 24 | $39.0M | $-31.5M | ||
| Q2 24 | $38.8M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | — | ||
| Q3 25 | 19.2% | 5.5% | ||
| Q2 25 | 18.9% | — | ||
| Q1 25 | 0.8% | -6.9% | ||
| Q4 24 | 18.9% | 14.5% | ||
| Q3 24 | 13.7% | -13.0% | ||
| Q2 24 | 12.5% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 7.5% | — | ||
| Q3 25 | 6.9% | 0.1% | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 10.0% | 1.7% | ||
| Q4 24 | 8.3% | 3.0% | ||
| Q3 24 | 7.9% | 1.3% | ||
| Q2 24 | 5.5% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | — | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | 2.33× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 2.27× | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DRH
| Rooms | $164.1M | 64% |
| Food and beverage | $67.2M | 26% |
| Other | $26.9M | 10% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
