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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($142.9M vs $132.7M, roughly 1.1× Emerald Holding, Inc.). Emerald Holding, Inc. runs the higher net margin — -22.8% vs -30.3%, a 7.5% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs -0.3%). Over the past eight quarters, Emerald Holding, Inc.'s revenue compounded faster (-0.3% CAGR vs -0.6%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
EEX vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $142.9M |
| Net Profit | $-30.2M | $-43.2M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | — |
| Net Margin | -22.8% | -30.3% |
| Revenue YoY | 24.3% | -0.3% |
| Net Profit YoY | -692.2% | -44.3% |
| EPS (diluted) | $-0.15 | $-0.34 |
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 | $142.9M | ||
| Q3 25 | $77.5M | $139.2M | ||
| Q2 25 | $105.5M | $140.3M | ||
| Q1 25 | $147.7M | $142.7M | ||
| Q4 24 | $106.8M | $143.2M | ||
| Q3 24 | $72.6M | $139.3M | ||
| Q2 24 | $86.0M | $143.3M | ||
| Q1 24 | $133.4M | $144.5M |
| Q4 25 | $-30.2M | $-43.2M | ||
| Q3 25 | $-14.4M | $-13.5M | ||
| Q2 25 | $-1.4M | $-16.8M | ||
| Q1 25 | $15.3M | $-10.1M | ||
| Q4 24 | $5.1M | $-30.0M | ||
| Q3 24 | $-11.1M | $-11.5M | ||
| Q2 24 | $-2.8M | $-9.8M | ||
| Q1 24 | $11.0M | $-27.8M |
| Q4 25 | -11.8% | — | ||
| Q3 25 | -10.1% | — | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 24.2% | — | ||
| Q4 24 | 19.5% | — | ||
| Q3 24 | -6.5% | — | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 18.2% | — |
| Q4 25 | -22.8% | -30.3% | ||
| Q3 25 | -18.6% | -9.7% | ||
| Q2 25 | -1.3% | -12.0% | ||
| Q1 25 | 10.4% | -7.1% | ||
| Q4 24 | 4.8% | -20.9% | ||
| Q3 24 | -15.3% | -8.3% | ||
| Q2 24 | -3.3% | -6.8% | ||
| Q1 24 | 8.2% | -19.2% |
| Q4 25 | $-0.15 | $-0.34 | ||
| Q3 25 | $-0.07 | $-0.11 | ||
| Q2 25 | $-0.01 | $-0.14 | ||
| Q1 25 | $0.08 | $-0.08 | ||
| Q4 24 | $0.01 | $-0.25 | ||
| Q3 24 | $-0.05 | $-0.09 | ||
| Q2 24 | $-0.03 | $-0.08 | ||
| Q1 24 | $0.00 | $-0.22 |
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 | $731.0K |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $338.8M | $1.5B |
| Total Assets | $1.2B | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $731.0K | ||
| Q3 25 | $95.4M | $3.0M | ||
| Q2 25 | $156.4M | $3.3M | ||
| Q1 25 | $276.8M | $2.9M | ||
| Q4 24 | $194.8M | $109.6M | ||
| Q3 24 | $188.9M | $133.6M | ||
| Q2 24 | $193.2M | $138.5M | ||
| Q1 24 | $186.8M | $3.5M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $338.8M | $1.5B | ||
| Q3 25 | $369.5M | $1.5B | ||
| Q2 25 | $389.4M | $1.5B | ||
| Q1 25 | $392.1M | $1.6B | ||
| Q4 24 | $385.9M | $1.6B | ||
| Q3 24 | $391.1M | $1.6B | ||
| Q2 24 | $407.6M | $1.7B | ||
| Q1 24 | $-90.7M | $1.7B |
| Q4 25 | $1.2B | $4.0B | ||
| Q3 25 | $1.2B | $4.0B | ||
| Q2 25 | $1.2B | $4.0B | ||
| Q1 25 | $1.2B | $4.0B | ||
| Q4 24 | $1.0B | $4.1B | ||
| Q3 24 | $1.1B | $4.1B | ||
| Q2 24 | $1.1B | $4.2B | ||
| Q1 24 | $1.1B | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
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 | $140.6M |
| Free Cash FlowOCF − Capex | $11.7M | — |
| FCF MarginFCF / Revenue | 8.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $140.6M | ||
| Q3 25 | $1.8M | $35.8M | ||
| Q2 25 | $15.9M | $50.1M | ||
| Q1 25 | $12.6M | $3.7M | ||
| Q4 24 | $20.6M | $198.1M | ||
| Q3 24 | $9.1M | $42.9M | ||
| Q2 24 | $9.8M | $66.8M | ||
| Q1 24 | $7.3M | $23.4M |
| Q4 25 | $11.7M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $15.8M | — | ||
| Q1 25 | $12.4M | — | ||
| Q4 24 | $19.9M | — | ||
| Q3 24 | $9.0M | — | ||
| Q2 24 | $9.6M | — | ||
| Q1 24 | $7.0M | — |
| Q4 25 | 8.8% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 8.4% | — | ||
| Q4 24 | 18.6% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 11.2% | — | ||
| Q1 24 | 5.2% | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
| 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% |
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
