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Side-by-side financial comparison of DESCARTES SYSTEMS GROUP INC (DSGX) and JBG SMITH Properties (JBGS). Click either name above to swap in a different company.
DESCARTES SYSTEMS GROUP INC is the larger business by last-quarter revenue ($179.8M vs $127.6M, roughly 1.4× JBG SMITH Properties). DESCARTES SYSTEMS GROUP INC runs the higher net margin — 21.1% vs -35.7%, a 56.8% gap on every dollar of revenue.
The Descartes Systems Group Inc. is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
DSGX vs JBGS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $127.6M |
| Net Profit | $38.0M | $-45.5M |
| Gross Margin | 76.9% | — |
| Operating Margin | 26.8% | -47.5% |
| Net Margin | 21.1% | -35.7% |
| Revenue YoY | — | -2.5% |
| Net Profit YoY | — | 24.0% |
| EPS (diluted) | $0.43 | $-0.76 |
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 | — | $127.6M | ||
| Q3 25 | $179.8M | $123.9M | ||
| Q2 25 | — | $126.5M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $130.8M | ||
| Q3 24 | $163.4M | $136.0M | ||
| Q2 24 | — | $135.3M | ||
| Q1 24 | — | $145.2M |
| Q4 25 | — | $-45.5M | ||
| Q3 25 | $38.0M | $-28.6M | ||
| Q2 25 | — | $-19.2M | ||
| Q1 25 | — | $-45.7M | ||
| Q4 24 | — | $-59.9M | ||
| Q3 24 | $34.7M | $-27.0M | ||
| Q2 24 | — | $-24.4M | ||
| Q1 24 | — | $-32.3M |
| Q4 25 | — | — | ||
| Q3 25 | 76.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -47.5% | ||
| Q3 25 | 26.8% | -27.5% | ||
| Q2 25 | — | -18.4% | ||
| Q1 25 | — | -44.7% | ||
| Q4 24 | — | -53.6% | ||
| Q3 24 | 28.1% | -22.4% | ||
| Q2 24 | — | -24.3% | ||
| Q1 24 | — | -30.1% |
| Q4 25 | — | -35.7% | ||
| Q3 25 | 21.1% | -23.1% | ||
| Q2 25 | — | -15.2% | ||
| Q1 25 | — | -37.9% | ||
| Q4 24 | — | -45.8% | ||
| Q3 24 | 21.2% | -19.8% | ||
| Q2 24 | — | -18.0% | ||
| Q1 24 | — | -22.2% |
| Q4 25 | — | $-0.76 | ||
| Q3 25 | $0.43 | $-0.48 | ||
| Q2 25 | — | $-0.29 | ||
| Q1 25 | — | $-0.56 | ||
| Q4 24 | — | $-0.70 | ||
| Q3 24 | $0.40 | $-0.32 | ||
| Q2 24 | — | $-0.27 | ||
| Q1 24 | — | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $240.6M | $75.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $1.2B |
| Total Assets | $1.8B | $4.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $75.3M | ||
| Q3 25 | $240.6M | $64.4M | ||
| Q2 25 | — | $61.4M | ||
| Q1 25 | — | $81.3M | ||
| Q4 24 | — | $145.8M | ||
| Q3 24 | $252.7M | $137.0M | ||
| Q2 24 | — | $163.5M | ||
| Q1 24 | — | $220.5M |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | — | $4.4B | ||
| Q3 25 | $1.8B | $4.4B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $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 | $63.3M | $73.3M |
| Free Cash FlowOCF − Capex | $62.1M | — |
| FCF MarginFCF / Revenue | 34.5% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $189.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $73.3M | ||
| Q3 25 | $63.3M | $8.9M | ||
| Q2 25 | — | $18.8M | ||
| Q1 25 | — | $12.9M | ||
| Q4 24 | — | $129.4M | ||
| Q3 24 | $34.7M | $26.4M | ||
| Q2 24 | — | $23.8M | ||
| Q1 24 | — | $37.0M |
| Q4 25 | — | — | ||
| Q3 25 | $62.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $33.1M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 34.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 20.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
