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Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) and PagerDuty, Inc. (PD). Click either name above to swap in a different company.
PagerDuty, Inc. is the larger business by last-quarter revenue ($124.5M vs $81.1M, roughly 1.5× Franklin BSP Realty Trust, Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs 22.7%, a 107.1% gap on every dollar of revenue. On growth, Franklin BSP Realty Trust, Inc. posted the faster year-over-year revenue change (25.8% vs 4.7%). Over the past eight quarters, Franklin BSP Realty Trust, Inc.'s revenue compounded faster (22.6% CAGR vs 5.9%).
Franklin BSP Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on originating, investing in, and managing a diversified portfolio of commercial real estate debt assets, including first mortgage loans, mezzanine financing and other credit-related real estate products. It operates primarily in the U.S. market, targeting consistent risk-adjusted returns and stable income distributions for investors.
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
FBRT vs PD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $124.5M |
| Net Profit | $18.4M | $161.6M |
| Gross Margin | — | 85.3% |
| Operating Margin | — | 6.5% |
| Net Margin | 22.7% | 129.7% |
| Revenue YoY | 25.8% | 4.7% |
| Net Profit YoY | -39.1% | 2827.7% |
| EPS (diluted) | $0.13 | $1.69 |
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 | $81.1M | $124.5M | ||
| Q3 25 | $89.5M | $123.4M | ||
| Q2 25 | $49.3M | $119.8M | ||
| Q1 25 | $50.1M | $121.4M | ||
| Q4 24 | $64.5M | $118.9M | ||
| Q3 24 | $54.0M | $115.9M | ||
| Q2 24 | $50.9M | $111.2M | ||
| Q1 24 | $54.0M | $111.1M |
| Q4 25 | $18.4M | $161.6M | ||
| Q3 25 | $17.3M | $9.6M | ||
| Q2 25 | $23.2M | $-7.2M | ||
| Q1 25 | $24.1M | $-8.8M | ||
| Q4 24 | $30.2M | $-5.9M | ||
| Q3 24 | $31.6M | $-10.9M | ||
| Q2 24 | $-2.2M | $-17.1M | ||
| Q1 24 | $35.9M | $-28.2M |
| Q4 25 | — | 85.3% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 84.0% | ||
| Q1 25 | — | 83.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 82.7% | ||
| Q2 24 | — | 82.6% | ||
| Q1 24 | — | 81.7% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | -8.6% | ||
| Q1 25 | — | -9.6% | ||
| Q4 24 | — | -8.7% | ||
| Q3 24 | — | -13.8% | ||
| Q2 24 | — | -19.5% | ||
| Q1 24 | — | -30.1% |
| Q4 25 | 22.7% | 129.7% | ||
| Q3 25 | 19.3% | 7.8% | ||
| Q2 25 | 47.1% | -6.0% | ||
| Q1 25 | 48.0% | -7.2% | ||
| Q4 24 | 46.8% | -5.0% | ||
| Q3 24 | 58.5% | -9.4% | ||
| Q2 24 | -4.3% | -15.4% | ||
| Q1 24 | 66.6% | -25.3% |
| Q4 25 | $0.13 | $1.69 | ||
| Q3 25 | $0.12 | $0.10 | ||
| Q2 25 | $0.19 | $-0.07 | ||
| Q1 25 | $0.20 | $-0.12 | ||
| Q4 24 | $0.28 | $-0.07 | ||
| Q3 24 | $0.30 | $-0.14 | ||
| Q2 24 | $-0.11 | $-0.26 | ||
| Q1 24 | $0.35 | $-0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.3M | $547.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $320.5M |
| Total Assets | $6.1B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $547.8M | ||
| Q3 25 | $116.7M | $567.9M | ||
| Q2 25 | $414.1M | $597.1M | ||
| Q1 25 | $215.4M | $570.8M | ||
| Q4 24 | $184.4M | $542.2M | ||
| Q3 24 | $346.2M | $599.3M | ||
| Q2 24 | $94.8M | $592.8M | ||
| Q1 24 | $240.0M | $571.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $484.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $489.5M |
| Q4 25 | $1.4B | $320.5M | ||
| Q3 25 | $1.5B | $180.7M | ||
| Q2 25 | $1.5B | $145.7M | ||
| Q1 25 | $1.5B | $129.8M | ||
| Q4 24 | $1.5B | $111.6M | ||
| Q3 24 | $1.5B | $164.7M | ||
| Q2 24 | $1.5B | $174.0M | ||
| Q1 24 | $1.6B | $171.6M |
| Q4 25 | $6.1B | $1.0B | ||
| Q3 25 | $6.2B | $891.5M | ||
| Q2 25 | $5.6B | $926.8M | ||
| Q1 25 | $5.7B | $927.3M | ||
| Q4 24 | $6.0B | $866.8M | ||
| Q3 24 | $6.3B | $916.0M | ||
| Q2 24 | $6.3B | $924.0M | ||
| Q1 24 | $6.0B | $925.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $291.9M | $24.8M |
| Free Cash FlowOCF − Capex | — | $24.1M |
| FCF MarginFCF / Revenue | — | 19.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 15.88× | 0.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $291.9M | $24.8M | ||
| Q3 25 | $-148.1M | $34.0M | ||
| Q2 25 | $11.8M | $30.7M | ||
| Q1 25 | $116.2M | $31.4M | ||
| Q4 24 | $57.2M | $22.1M | ||
| Q3 24 | $97.4M | $35.8M | ||
| Q2 24 | $1.9M | $28.6M | ||
| Q1 24 | $13.0M | $22.2M |
| Q4 25 | — | $24.1M | ||
| Q3 25 | — | $33.1M | ||
| Q2 25 | — | $30.2M | ||
| Q1 25 | — | $30.3M | ||
| Q4 24 | — | $21.5M | ||
| Q3 24 | — | $35.1M | ||
| Q2 24 | — | $28.2M | ||
| Q1 24 | — | $21.2M |
| Q4 25 | — | 19.3% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 25.2% | ||
| Q1 25 | — | 24.9% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 25.4% | ||
| Q1 24 | — | 19.1% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 15.88× | 0.15× | ||
| Q3 25 | -8.56× | 3.55× | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 4.83× | — | ||
| Q4 24 | 1.90× | — | ||
| Q3 24 | 3.08× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FBRT
| New Point Holdings JVLLC | $77.3M | 95% |
| Other | $2.1M | 3% |
| Office Building | $1.7M | 2% |
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
