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Side-by-side financial comparison of FARMER BROTHERS CO (FARM) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.

INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $88.9M, roughly 1.9× FARMER BROTHERS CO). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs -1.2%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.2% CAGR vs 2.1%).

Farmer Bros. Co. is an American coffee foodservice company based in Fort Worth, Texas. The company specializes in the manufacture and distribution of coffee, tea, and approximately 300 other foodservice items used by restaurants and other establishments. John Moore serves as the company's president and chief executive officer.

Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.

FARM vs IRT — Head-to-Head

Bigger by revenue
IRT
IRT
1.9× larger
IRT
$165.3M
$88.9M
FARM
Growing faster (revenue YoY)
IRT
IRT
+3.7% gap
IRT
2.5%
-1.2%
FARM
Faster 2-yr revenue CAGR
IRT
IRT
Annualised
IRT
2.2%
2.1%
FARM

Income Statement — Q2 FY2026 vs Q1 FY2026

Metric
FARM
FARM
IRT
IRT
Revenue
$88.9M
$165.3M
Net Profit
$-4.9M
Gross Margin
36.3%
Operating Margin
-4.7%
Net Margin
-5.5%
Revenue YoY
-1.2%
2.5%
Net Profit YoY
-2417.1%
EPS (diluted)
$-0.22
$0.00

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.

Revenue
FARM
FARM
IRT
IRT
Q1 26
$165.3M
Q4 25
$88.9M
$167.1M
Q3 25
$81.6M
$167.1M
Q2 25
$85.1M
$162.2M
Q1 25
$82.1M
$161.2M
Q4 24
$90.0M
$161.0M
Q3 24
$85.1M
$160.1M
Q2 24
$84.4M
$158.4M
Net Profit
FARM
FARM
IRT
IRT
Q1 26
Q4 25
$-4.9M
$33.3M
Q3 25
$-4.0M
$6.9M
Q2 25
$-4.7M
$8.0M
Q1 25
$-5.0M
$8.4M
Q4 24
$210.0K
$-1.0M
Q3 24
$-5.0M
$12.4M
Q2 24
$-4.6M
$10.4M
Gross Margin
FARM
FARM
IRT
IRT
Q1 26
Q4 25
36.3%
Q3 25
39.7%
Q2 25
44.9%
Q1 25
42.1%
Q4 24
43.1%
Q3 24
43.9%
Q2 24
38.8%
Operating Margin
FARM
FARM
IRT
IRT
Q1 26
Q4 25
-4.7%
Q3 25
-3.9%
Q2 25
4.6%
Q1 25
-4.3%
Q4 24
1.1%
Q3 24
-3.3%
Q2 24
-4.9%
Net Margin
FARM
FARM
IRT
IRT
Q1 26
Q4 25
-5.5%
19.9%
Q3 25
-4.9%
4.1%
Q2 25
-5.6%
5.0%
Q1 25
-6.1%
5.2%
Q4 24
0.2%
-0.6%
Q3 24
-5.9%
7.7%
Q2 24
-5.4%
6.5%
EPS (diluted)
FARM
FARM
IRT
IRT
Q1 26
$0.00
Q4 25
$-0.22
$0.14
Q3 25
$-0.19
$0.03
Q2 25
$-0.22
$0.03
Q1 25
$-0.23
$0.04
Q4 24
$0.01
$-0.01
Q3 24
$-0.24
$0.05
Q2 24
$-0.23
$0.05

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FARM
FARM
IRT
IRT
Cash + ST InvestmentsLiquidity on hand
$4.2M
$23.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$35.7M
$3.4B
Total Assets
$151.4M
$6.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FARM
FARM
IRT
IRT
Q1 26
$23.3M
Q4 25
$4.2M
$23.6M
Q3 25
$3.8M
$23.3M
Q2 25
$6.8M
$19.5M
Q1 25
$4.1M
$29.1M
Q4 24
$5.5M
$21.2M
Q3 24
$3.3M
$17.6M
Q2 24
$5.8M
$21.0M
Total Debt
FARM
FARM
IRT
IRT
Q1 26
Q4 25
$2.3B
Q3 25
$2.3B
Q2 25
$2.2B
Q1 25
$2.3B
Q4 24
$2.3B
Q3 24
$2.3B
Q2 24
$2.3B
Stockholders' Equity
FARM
FARM
IRT
IRT
Q1 26
$3.4B
Q4 25
$35.7M
$3.5B
Q3 25
$40.0M
$3.5B
Q2 25
$43.5M
$3.4B
Q1 25
$37.3M
$3.5B
Q4 24
$41.5M
$3.4B
Q3 24
$40.9M
$3.4B
Q2 24
$45.5M
$3.4B
Total Assets
FARM
FARM
IRT
IRT
Q1 26
$6.1B
Q4 25
$151.4M
$6.0B
Q3 25
$158.8M
$6.1B
Q2 25
$161.2M
$6.0B
Q1 25
$163.2M
$6.0B
Q4 24
$179.1M
$6.1B
Q3 24
$182.0M
$5.9B
Q2 24
$185.2M
$5.9B
Debt / Equity
FARM
FARM
IRT
IRT
Q1 26
Q4 25
0.66×
Q3 25
0.66×
Q2 25
0.66×
Q1 25
0.65×
Q4 24
0.68×
Q3 24
0.68×
Q2 24
0.66×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FARM
FARM
IRT
IRT
Operating Cash FlowLast quarter
$-786.0K
Free Cash FlowOCF − Capex
$-2.6M
FCF MarginFCF / Revenue
-2.9%
Capex IntensityCapex / Revenue
2.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FARM
FARM
IRT
IRT
Q1 26
Q4 25
$-786.0K
$282.1M
Q3 25
$-5.0M
$79.3M
Q2 25
$9.7M
$82.2M
Q1 25
$1.3M
$60.4M
Q4 24
$2.6M
$259.8M
Q3 24
$2.5M
$69.2M
Q2 24
$-995.0K
$83.0M
Free Cash Flow
FARM
FARM
IRT
IRT
Q1 26
Q4 25
$-2.6M
Q3 25
$-6.9M
Q2 25
Q1 25
$-684.0K
Q4 24
$521.0K
Q3 24
$-837.0K
Q2 24
FCF Margin
FARM
FARM
IRT
IRT
Q1 26
Q4 25
-2.9%
Q3 25
-8.5%
Q2 25
Q1 25
-0.8%
Q4 24
0.6%
Q3 24
-1.0%
Q2 24
Capex Intensity
FARM
FARM
IRT
IRT
Q1 26
Q4 25
2.1%
Q3 25
2.4%
Q2 25
Q1 25
2.4%
Q4 24
2.3%
Q3 24
3.9%
Q2 24
Cash Conversion
FARM
FARM
IRT
IRT
Q1 26
Q4 25
8.48×
Q3 25
11.51×
Q2 25
10.22×
Q1 25
7.23×
Q4 24
12.16×
Q3 24
5.60×
Q2 24
8.02×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

FARM
FARM

Coffee Roasted$45.5M51%
Tea Iced Hot$23.3M26%
Culinary$14.1M16%
Spice$4.9M5%
Fuel Surcharge$1.2M1%

IRT
IRT

Rental and other property revenue$165.2M100%
Other revenue$109.0K0%

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