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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Emerald Holding, Inc. is the larger business by last-quarter revenue ($132.7M vs $113.9M, roughly 1.2× Industrial Logistics Properties Trust). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -22.8%, a 21.2% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $11.7M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
EEX vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $113.9M |
| Net Profit | $-30.2M | $-1.8M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | -22.1% |
| Net Margin | -22.8% | -1.6% |
| Revenue YoY | 24.3% | 3.1% |
| Net Profit YoY | -692.2% | 92.6% |
| EPS (diluted) | $-0.15 | $-0.02 |
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 | $132.7M | $113.9M | ||
| Q3 25 | $77.5M | $110.9M | ||
| Q2 25 | $105.5M | $112.1M | ||
| Q1 25 | $147.7M | $111.9M | ||
| Q4 24 | $106.8M | $110.5M | ||
| Q3 24 | $72.6M | $108.9M | ||
| Q2 24 | $86.0M | $110.6M | ||
| Q1 24 | $133.4M | $112.2M |
| Q4 25 | $-30.2M | $-1.8M | ||
| Q3 25 | $-14.4M | $-21.6M | ||
| Q2 25 | $-1.4M | $-21.3M | ||
| Q1 25 | $15.3M | $-21.5M | ||
| Q4 24 | $5.1M | $-24.1M | ||
| Q3 24 | $-11.1M | $-25.0M | ||
| Q2 24 | $-2.8M | $-23.2M | ||
| Q1 24 | $11.0M | $-23.4M |
| Q4 25 | -11.8% | -22.1% | ||
| Q3 25 | -10.1% | -29.4% | ||
| Q2 25 | 9.7% | -30.8% | ||
| Q1 25 | 24.2% | -26.9% | ||
| Q4 24 | 19.5% | -31.1% | ||
| Q3 24 | -6.5% | -33.5% | ||
| Q2 24 | 7.4% | -32.4% | ||
| Q1 24 | 18.2% | -31.7% |
| Q4 25 | -22.8% | -1.6% | ||
| Q3 25 | -18.6% | -19.4% | ||
| Q2 25 | -1.3% | -19.0% | ||
| Q1 25 | 10.4% | -19.2% | ||
| Q4 24 | 4.8% | -21.8% | ||
| Q3 24 | -15.3% | -22.9% | ||
| Q2 24 | -3.3% | -20.9% | ||
| Q1 24 | 8.2% | -20.9% |
| Q4 25 | $-0.15 | $-0.02 | ||
| Q3 25 | $-0.07 | $-0.33 | ||
| Q2 25 | $-0.01 | $-0.32 | ||
| Q1 25 | $0.08 | $-0.33 | ||
| Q4 24 | $0.01 | $-0.37 | ||
| Q3 24 | $-0.05 | $-0.38 | ||
| Q2 24 | $-0.03 | $-0.35 | ||
| Q1 24 | $0.00 | $-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 | $100.9M | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $338.8M | $489.7M |
| Total Assets | $1.2B | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $94.8M | ||
| Q3 25 | $95.4M | $83.2M | ||
| Q2 25 | $156.4M | $58.6M | ||
| Q1 25 | $276.8M | $108.0M | ||
| Q4 24 | $194.8M | $131.7M | ||
| Q3 24 | $188.9M | $153.9M | ||
| Q2 24 | $193.2M | $146.2M | ||
| Q1 24 | $186.8M | $128.4M |
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $338.8M | $489.7M | ||
| Q3 25 | $369.5M | $494.1M | ||
| Q2 25 | $389.4M | $519.1M | ||
| Q1 25 | $392.1M | $539.5M | ||
| Q4 24 | $385.9M | $562.0M | ||
| Q3 24 | $391.1M | $585.9M | ||
| Q2 24 | $407.6M | $618.3M | ||
| Q1 24 | $-90.7M | $643.2M |
| Q4 25 | $1.2B | $5.2B | ||
| Q3 25 | $1.2B | $5.2B | ||
| Q2 25 | $1.2B | $5.2B | ||
| Q1 25 | $1.2B | $5.4B | ||
| Q4 24 | $1.0B | $5.4B | ||
| Q3 24 | $1.1B | $5.5B | ||
| Q2 24 | $1.1B | $5.5B | ||
| Q1 24 | $1.1B | $5.5B |
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $12.3M | $60.7M |
| Free Cash FlowOCF − Capex | $11.7M | $42.0M |
| FCF MarginFCF / Revenue | 8.8% | 36.9% |
| Capex IntensityCapex / Revenue | 0.5% | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $60.7M | ||
| Q3 25 | $1.8M | $22.7M | ||
| Q2 25 | $15.9M | $18.4M | ||
| Q1 25 | $12.6M | $11.4M | ||
| Q4 24 | $20.6M | $2.0M | ||
| Q3 24 | $9.1M | $-3.4M | ||
| Q2 24 | $9.8M | $10.8M | ||
| Q1 24 | $7.3M | $8.0M |
| Q4 25 | $11.7M | $42.0M | ||
| Q3 25 | $1.5M | $17.6M | ||
| Q2 25 | $15.8M | $15.2M | ||
| Q1 25 | $12.4M | $5.0M | ||
| Q4 24 | $19.9M | $-3.7M | ||
| Q3 24 | $9.0M | $-5.9M | ||
| Q2 24 | $9.6M | $9.4M | ||
| Q1 24 | $7.0M | $5.9M |
| Q4 25 | 8.8% | 36.9% | ||
| Q3 25 | 1.9% | 15.9% | ||
| Q2 25 | 15.0% | 13.5% | ||
| Q1 25 | 8.4% | 4.5% | ||
| Q4 24 | 18.6% | -3.4% | ||
| Q3 24 | 12.4% | -5.5% | ||
| Q2 24 | 11.2% | 8.5% | ||
| Q1 24 | 5.2% | 5.2% |
| Q4 25 | 0.5% | 16.4% | ||
| Q3 25 | 0.4% | 4.6% | ||
| Q2 25 | 0.1% | 2.9% | ||
| Q1 25 | 0.1% | 5.7% | ||
| Q4 24 | 0.7% | 5.2% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.2% | 1.3% | ||
| Q1 24 | 0.2% | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 4.04× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
ILPT
Segment breakdown not available.
