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Side-by-side financial comparison of Enhabit, Inc. (EHAB) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
Enhabit, Inc. is the larger business by last-quarter revenue ($270.4M vs $187.0M, roughly 1.4× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -14.3%, a 26.6% gap on every dollar of revenue. On growth, Enhabit, Inc. posted the faster year-over-year revenue change (4.7% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $3.3M). Over the past eight quarters, Enhabit, Inc.'s revenue compounded faster (1.5% CAGR vs -2.4%).
Enhabit, Inc., is a Dallas, Texas-based provider of home health and hospice services. The company operates 255 home health and 110 hospice locations in 34 states with a concentration in Texas, Alabama, Florida, Georgia, Oklahoma and Mississippi. Enhabit is the fourth-largest provider of home health services in the United States and is a leading provider of hospice services. The company was formed in 2022 when Encompass Health spun off its home health and hospice business.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
EHAB vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.4M | $187.0M |
| Net Profit | $-38.7M | $22.9M |
| Gross Margin | — | 72.5% |
| Operating Margin | -12.3% | 20.2% |
| Net Margin | -14.3% | 12.2% |
| Revenue YoY | 4.7% | -1.6% |
| Net Profit YoY | 15.9% | 36.8% |
| EPS (diluted) | $-0.76 | $0.23 |
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 | $270.4M | $187.0M | ||
| Q3 25 | $263.6M | $188.7M | ||
| Q2 25 | $266.1M | $188.8M | ||
| Q1 25 | $259.9M | $188.4M | ||
| Q4 24 | $258.2M | $190.1M | ||
| Q3 24 | $253.6M | $193.6M | ||
| Q2 24 | $260.6M | $190.4M | ||
| Q1 24 | $262.4M | $196.1M |
| Q4 25 | $-38.7M | $22.9M | ||
| Q3 25 | $11.1M | $18.4M | ||
| Q2 25 | $5.2M | $19.5M | ||
| Q1 25 | $17.8M | $13.0M | ||
| Q4 24 | $-46.0M | $16.7M | ||
| Q3 24 | $-110.2M | $18.7M | ||
| Q2 24 | $-200.0K | $17.1M | ||
| Q1 24 | $200.0K | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 70.5% | ||
| Q1 25 | — | 70.7% | ||
| Q4 24 | — | 72.5% | ||
| Q3 24 | — | 72.8% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | -12.3% | 20.2% | ||
| Q3 25 | 6.4% | 15.8% | ||
| Q2 25 | 6.3% | 16.5% | ||
| Q1 25 | 6.1% | 11.0% | ||
| Q4 24 | -16.0% | 14.5% | ||
| Q3 24 | -38.6% | 15.8% | ||
| Q2 24 | 4.3% | 17.2% | ||
| Q1 24 | 4.9% | 48.9% |
| Q4 25 | -14.3% | 12.2% | ||
| Q3 25 | 4.2% | 9.8% | ||
| Q2 25 | 2.0% | 10.3% | ||
| Q1 25 | 6.8% | 6.9% | ||
| Q4 24 | -17.8% | 8.8% | ||
| Q3 24 | -43.5% | 9.7% | ||
| Q2 24 | -0.1% | 9.0% | ||
| Q1 24 | 0.1% | 30.1% |
| Q4 25 | $-0.76 | $0.23 | ||
| Q3 25 | $0.22 | $0.17 | ||
| Q2 25 | $0.10 | $0.19 | ||
| Q1 25 | $0.35 | $0.10 | ||
| Q4 24 | $-0.92 | $0.19 | ||
| Q3 24 | $-2.20 | $0.18 | ||
| Q2 24 | $0.00 | $0.16 | ||
| Q1 24 | $0.01 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $43.6M | $23.3M |
| Total DebtLower is stronger | $426.0M | — |
| Stockholders' EquityBook value | $534.0M | $946.0M |
| Total Assets | $1.2B | $5.1B |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $43.6M | $23.3M | ||
| Q3 25 | $56.9M | $26.3M | ||
| Q2 25 | $37.1M | $26.1M | ||
| Q1 25 | $39.5M | $19.3M | ||
| Q4 24 | $28.4M | $50.4M | ||
| Q3 24 | $45.7M | $69.9M | ||
| Q2 24 | $28.5M | $59.0M | ||
| Q1 24 | $36.5M | $64.2M |
| Q4 25 | $426.0M | — | ||
| Q3 25 | $441.5M | — | ||
| Q2 25 | $456.9M | — | ||
| Q1 25 | $467.3M | — | ||
| Q4 24 | $492.6M | — | ||
| Q3 24 | $502.9M | — | ||
| Q2 24 | $512.7M | — | ||
| Q1 24 | $526.7M | — |
| Q4 25 | $534.0M | $946.0M | ||
| Q3 25 | $566.8M | $973.1M | ||
| Q2 25 | $552.4M | $1.0B | ||
| Q1 25 | $543.2M | $1.0B | ||
| Q4 24 | $523.5M | $1.1B | ||
| Q3 24 | $566.1M | $986.9M | ||
| Q2 24 | $674.3M | $1.2B | ||
| Q1 24 | $672.3M | $1.3B |
| Q4 25 | $1.2B | $5.1B | ||
| Q3 25 | $1.2B | $5.1B | ||
| Q2 25 | $1.2B | $5.2B | ||
| Q1 25 | $1.2B | $5.3B | ||
| Q4 24 | $1.2B | $5.4B | ||
| Q3 24 | $1.3B | $5.4B | ||
| Q2 24 | $1.4B | $5.3B | ||
| Q1 24 | $1.4B | $5.4B |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 0.89× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.78× | — |
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 | $4.4M | $338.5M |
| Free Cash FlowOCF − Capex | $3.3M | $299.8M |
| FCF MarginFCF / Revenue | 1.2% | 160.3% |
| Capex IntensityCapex / Revenue | 0.4% | 20.7% |
| Cash ConversionOCF / Net Profit | — | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $338.5M | ||
| Q3 25 | $37.8M | $100.2M | ||
| Q2 25 | $10.6M | $79.9M | ||
| Q1 25 | $17.9M | $85.6M | ||
| Q4 24 | $-4.1M | $363.1M | ||
| Q3 24 | $28.4M | $105.7M | ||
| Q2 24 | $9.6M | $83.2M | ||
| Q1 24 | $17.3M | $94.0M |
| Q4 25 | $3.3M | $299.8M | ||
| Q3 25 | $36.2M | $88.0M | ||
| Q2 25 | $8.7M | $73.8M | ||
| Q1 25 | $17.6M | $79.9M | ||
| Q4 24 | $-4.7M | $344.4M | ||
| Q3 24 | $27.7M | $101.8M | ||
| Q2 24 | $8.9M | $79.5M | ||
| Q1 24 | $15.5M | $88.6M |
| Q4 25 | 1.2% | 160.3% | ||
| Q3 25 | 13.7% | 46.6% | ||
| Q2 25 | 3.3% | 39.1% | ||
| Q1 25 | 6.8% | 42.4% | ||
| Q4 24 | -1.8% | 181.2% | ||
| Q3 24 | 10.9% | 52.6% | ||
| Q2 24 | 3.4% | 41.7% | ||
| Q1 24 | 5.9% | 45.2% |
| Q4 25 | 0.4% | 20.7% | ||
| Q3 25 | 0.6% | 6.5% | ||
| Q2 25 | 0.7% | 3.2% | ||
| Q1 25 | 0.1% | 3.0% | ||
| Q4 24 | 0.2% | 9.8% | ||
| Q3 24 | 0.3% | 2.0% | ||
| Q2 24 | 0.3% | 1.9% | ||
| Q1 24 | 0.7% | 2.7% |
| Q4 25 | — | 14.79× | ||
| Q3 25 | 3.41× | 5.44× | ||
| Q2 25 | 2.04× | 4.10× | ||
| Q1 25 | 1.01× | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | — | 5.65× | ||
| Q2 24 | — | 4.88× | ||
| Q1 24 | 86.50× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EHAB
| Third Party Payor Medicare | $111.6M | 41% |
| Third Party Payor Medicare Advantage | $67.5M | 25% |
| Hospice Segment | $63.6M | 24% |
| Third Party Payor Managed Care | $24.9M | 9% |
| Third Party Payor Medicaid | $1.7M | 1% |
NSA
Segment breakdown not available.
