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Side-by-side financial comparison of Duolingo, Inc. (DUOL) 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 $282.9M, roughly 1.7× Duolingo, Inc.). Essex Property Trust runs the higher net margin — 17.9% vs 14.8%, a 3.0% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 5.5%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 6.0%).
Duolingo, Inc. is a leading global edtech firm operating a gamified language learning platform. It offers free and premium self-paced courses for over 40 languages, plus language certification, math learning tools, and literacy programs, serving individual learners, schools and corporate clients worldwide.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
DUOL vs ESS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $479.6M |
| Net Profit | $42.0M | $85.7M |
| Gross Margin | 72.8% | 70.0% |
| Operating Margin | 15.4% | 31.7% |
| Net Margin | 14.8% | 17.9% |
| Revenue YoY | 35.0% | 5.5% |
| Net Profit YoY | 201.7% | -71.6% |
| EPS (diluted) | $0.99 | $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 | $282.9M | $479.6M | ||
| Q3 25 | $271.7M | $473.3M | ||
| Q2 25 | $252.3M | $469.8M | ||
| Q1 25 | $230.7M | $464.6M | ||
| Q4 24 | $209.6M | $454.5M | ||
| Q3 24 | $192.6M | $450.7M | ||
| Q2 24 | $178.3M | $442.4M | ||
| Q1 24 | $167.6M | $426.9M |
| Q4 25 | $42.0M | $85.7M | ||
| Q3 25 | $292.2M | $172.7M | ||
| Q2 25 | $44.8M | $231.5M | ||
| Q1 25 | $35.1M | $212.8M | ||
| Q4 24 | $13.9M | $301.7M | ||
| Q3 24 | $23.4M | $125.5M | ||
| Q2 24 | $24.4M | $99.0M | ||
| Q1 24 | $27.0M | $285.1M |
| Q4 25 | 72.8% | 70.0% | ||
| Q3 25 | 72.5% | 69.2% | ||
| Q2 25 | 72.4% | 70.7% | ||
| Q1 25 | 71.1% | 69.6% | ||
| Q4 24 | 71.9% | 70.0% | ||
| Q3 24 | 72.9% | 69.5% | ||
| Q2 24 | 73.4% | 70.8% | ||
| Q1 24 | 73.0% | 69.7% |
| Q4 25 | 15.4% | 31.7% | ||
| Q3 25 | 12.9% | 44.5% | ||
| Q2 25 | 13.2% | 59.5% | ||
| Q1 25 | 10.2% | 55.3% | ||
| Q4 24 | 6.6% | 67.0% | ||
| Q3 24 | 7.0% | 28.6% | ||
| Q2 24 | 10.5% | 31.1% | ||
| Q1 24 | 9.8% | 31.0% |
| Q4 25 | 14.8% | 17.9% | ||
| Q3 25 | 107.5% | 36.5% | ||
| Q2 25 | 17.8% | 49.3% | ||
| Q1 25 | 15.2% | 45.8% | ||
| Q4 24 | 6.6% | 66.4% | ||
| Q3 24 | 12.1% | 27.8% | ||
| Q2 24 | 13.7% | 22.4% | ||
| Q1 24 | 16.1% | 66.8% |
| Q4 25 | $0.99 | $1.24 | ||
| Q3 25 | $5.95 | $2.56 | ||
| Q2 25 | $0.91 | $3.44 | ||
| Q1 25 | $0.72 | $3.16 | ||
| Q4 24 | $0.31 | $4.00 | ||
| Q3 24 | $0.49 | $1.84 | ||
| Q2 24 | $0.51 | $1.45 | ||
| Q1 24 | $0.57 | $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 | $1.0B | $76.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $5.5B |
| Total Assets | $2.0B | $13.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $76.2M | ||
| Q3 25 | $1.0B | $66.0M | ||
| Q2 25 | $976.2M | $58.7M | ||
| Q1 25 | $884.0M | $98.7M | ||
| Q4 24 | $785.8M | $66.8M | ||
| Q3 24 | $854.4M | $71.3M | ||
| Q2 24 | $888.2M | $55.2M | ||
| Q1 24 | $829.7M | $499.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | $1.3B | $5.5B | ||
| Q3 25 | $1.3B | $5.6B | ||
| Q2 25 | $977.0M | $5.6B | ||
| Q1 25 | $893.8M | $5.6B | ||
| Q4 24 | $824.5M | $5.5B | ||
| Q3 24 | $822.5M | $5.4B | ||
| Q2 24 | $766.9M | $5.5B | ||
| Q1 24 | $711.1M | $5.5B |
| Q4 25 | $2.0B | $13.2B | ||
| Q3 25 | $1.9B | $13.2B | ||
| Q2 25 | $1.5B | $13.2B | ||
| Q1 25 | $1.4B | $13.2B | ||
| Q4 24 | $1.3B | $12.9B | ||
| Q3 24 | $1.2B | $12.6B | ||
| Q2 24 | $1.1B | $12.5B | ||
| Q1 24 | $1.1B | $12.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | — | ||
| 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 | $107.3M | $1.1B |
| Free Cash FlowOCF − Capex | $96.6M | — |
| FCF MarginFCF / Revenue | 34.1% | — |
| Capex IntensityCapex / Revenue | 3.8% | — |
| Cash ConversionOCF / Net Profit | 2.56× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $369.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | $1.1B | ||
| Q3 25 | $84.2M | $342.6M | ||
| Q2 25 | $90.7M | $216.1M | ||
| Q1 25 | $105.6M | $281.5M | ||
| Q4 24 | $83.3M | $1.1B | ||
| Q3 24 | $56.3M | $316.2M | ||
| Q2 24 | $62.4M | $218.9M | ||
| Q1 24 | $83.5M | $314.9M |
| Q4 25 | $96.6M | — | ||
| Q3 25 | $79.4M | — | ||
| Q2 25 | $89.5M | — | ||
| Q1 25 | $104.3M | — | ||
| Q4 24 | $81.4M | — | ||
| Q3 24 | $53.1M | — | ||
| Q2 24 | $56.8M | — | ||
| Q1 24 | $82.1M | — |
| Q4 25 | 34.1% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 35.5% | — | ||
| Q1 25 | 45.2% | — | ||
| Q4 24 | 38.8% | — | ||
| Q3 24 | 27.6% | — | ||
| Q2 24 | 31.9% | — | ||
| Q1 24 | 49.0% | — |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | 2.56× | 12.53× | ||
| Q3 25 | 0.29× | 1.98× | ||
| Q2 25 | 2.02× | 0.93× | ||
| Q1 25 | 3.01× | 1.32× | ||
| Q4 24 | 5.99× | 3.54× | ||
| Q3 24 | 2.41× | 2.52× | ||
| Q2 24 | 2.56× | 2.21× | ||
| Q1 24 | 3.10× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
ESS
Segment breakdown not available.
