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Side-by-side financial comparison of Essex Property Trust (ESS) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $376.9M, roughly 1.3× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 5.5%). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% CAGR vs 6.0%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
ESS vs TRUP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $376.9M |
| Net Profit | $85.7M | — |
| Gross Margin | 70.0% | 17.3% |
| Operating Margin | 31.7% | 1.9% |
| Net Margin | 17.9% | — |
| Revenue YoY | 5.5% | 11.7% |
| Net Profit YoY | -71.6% | — |
| EPS (diluted) | $1.24 | $0.13 |
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 | $479.6M | $376.9M | ||
| Q3 25 | $473.3M | $366.9M | ||
| Q2 25 | $469.8M | $353.6M | ||
| Q1 25 | $464.6M | $342.0M | ||
| Q4 24 | $454.5M | $337.3M | ||
| Q3 24 | $450.7M | $327.5M | ||
| Q2 24 | $442.4M | $314.8M | ||
| Q1 24 | $426.9M | $306.1M |
| Q4 25 | $85.7M | — | ||
| Q3 25 | $172.7M | — | ||
| Q2 25 | $231.5M | — | ||
| Q1 25 | $212.8M | — | ||
| Q4 24 | $301.7M | — | ||
| Q3 24 | $125.5M | — | ||
| Q2 24 | $99.0M | — | ||
| Q1 24 | $285.1M | — |
| Q4 25 | 70.0% | 17.3% | ||
| Q3 25 | 69.2% | 16.4% | ||
| Q2 25 | 70.7% | 15.5% | ||
| Q1 25 | 69.6% | 14.9% | ||
| Q4 24 | 70.0% | 15.7% | ||
| Q3 24 | 69.5% | 15.1% | ||
| Q2 24 | 70.8% | 12.8% | ||
| Q1 24 | 69.7% | 11.8% |
| Q4 25 | 31.7% | 1.9% | ||
| Q3 25 | 44.5% | 1.6% | ||
| Q2 25 | 59.5% | 0.7% | ||
| Q1 25 | 55.3% | -0.4% | ||
| Q4 24 | 67.0% | 0.1% | ||
| Q3 24 | 28.6% | 0.5% | ||
| Q2 24 | 31.1% | -1.7% | ||
| Q1 24 | 31.0% | -2.0% |
| Q4 25 | 17.9% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | 49.3% | — | ||
| Q1 25 | 45.8% | — | ||
| Q4 24 | 66.4% | — | ||
| Q3 24 | 27.8% | — | ||
| Q2 24 | 22.4% | — | ||
| Q1 24 | 66.8% | — |
| Q4 25 | $1.24 | $0.13 | ||
| Q3 25 | $2.56 | $0.13 | ||
| Q2 25 | $3.44 | $0.22 | ||
| Q1 25 | $3.16 | $-0.03 | ||
| Q4 24 | $4.00 | $0.04 | ||
| Q3 24 | $1.84 | $0.03 | ||
| Q2 24 | $1.45 | $-0.14 | ||
| Q1 24 | $4.25 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $76.2M | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $5.5B | $383.9M |
| Total Assets | $13.2B | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $370.7M | ||
| Q3 25 | $66.0M | $348.5M | ||
| Q2 25 | $58.7M | $319.6M | ||
| Q1 25 | $98.7M | $321.8M | ||
| Q4 24 | $66.8M | $307.4M | ||
| Q3 24 | $71.3M | $293.1M | ||
| Q2 24 | $55.2M | $277.2M | ||
| Q1 24 | $499.0M | $275.2M |
| Q4 25 | — | $101.8M | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $383.9M | ||
| Q3 25 | $5.6B | $368.6M | ||
| Q2 25 | $5.6B | $355.5M | ||
| Q1 25 | $5.6B | $333.7M | ||
| Q4 24 | $5.5B | $323.3M | ||
| Q3 24 | $5.4B | $320.2M | ||
| Q2 24 | $5.5B | $305.8M | ||
| Q1 24 | $5.5B | $303.4M |
| Q4 25 | $13.2B | $915.0M | ||
| Q3 25 | $13.2B | $880.2M | ||
| Q2 25 | $13.2B | $847.8M | ||
| Q1 25 | $13.2B | $837.2M | ||
| Q4 24 | $12.9B | $806.9M | ||
| Q3 24 | $12.6B | $816.1M | ||
| Q2 24 | $12.5B | $795.9M | ||
| Q1 24 | $12.9B | $789.5M |
| Q4 25 | — | 0.27× | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | — | 0.39× | ||
| 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 | $1.1B | $29.3M |
| Free Cash FlowOCF − Capex | — | $25.3M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 12.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $29.3M | ||
| Q3 25 | $342.6M | $29.2M | ||
| Q2 25 | $216.1M | $15.0M | ||
| Q1 25 | $281.5M | $16.0M | ||
| Q4 24 | $1.1B | $23.7M | ||
| Q3 24 | $316.2M | $15.3M | ||
| Q2 24 | $218.9M | $6.9M | ||
| Q1 24 | $314.9M | $2.4M |
| Q4 25 | — | $25.3M | ||
| Q3 25 | — | $23.9M | ||
| Q2 25 | — | $12.0M | ||
| Q1 25 | — | $14.0M | ||
| Q4 24 | — | $21.8M | ||
| Q3 24 | — | $13.4M | ||
| Q2 24 | — | $4.0M | ||
| Q1 24 | — | $-631.0K |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | -0.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | 12.53× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 2.52× | — | ||
| Q2 24 | 2.21× | — | ||
| Q1 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESS
Segment breakdown not available.
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
