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Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) and STEM, INC. (STEM). Click either name above to swap in a different company.
Franklin BSP Realty Trust, Inc. is the larger business by last-quarter revenue ($81.1M vs $47.1M, roughly 1.7× STEM, INC.). Franklin BSP Realty Trust, Inc. runs the higher net margin — 22.7% vs -33.9%, a 56.6% gap on every dollar of revenue. On growth, Franklin BSP Realty Trust, Inc. posted the faster year-over-year revenue change (25.8% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 22.6%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
FBRT vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $47.1M |
| Net Profit | $18.4M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | — | -17.7% |
| Net Margin | 22.7% | -33.9% |
| Revenue YoY | 25.8% | -15.6% |
| Net Profit YoY | -39.1% | 68.8% |
| EPS (diluted) | $0.13 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $89.5M | $38.2M | ||
| Q2 25 | $49.3M | $38.4M | ||
| Q1 25 | $50.1M | $32.5M | ||
| Q4 24 | $64.5M | $55.8M | ||
| Q3 24 | $54.0M | $29.3M | ||
| Q2 24 | $50.9M | $34.0M | ||
| Q1 24 | $54.0M | $25.5M |
| Q4 25 | $18.4M | $-16.0M | ||
| Q3 25 | $17.3M | $-23.8M | ||
| Q2 25 | $23.2M | $202.5M | ||
| Q1 25 | $24.1M | $-25.0M | ||
| Q4 24 | $30.2M | $-51.1M | ||
| Q3 24 | $31.6M | $-148.3M | ||
| Q2 24 | $-2.2M | $-582.3M | ||
| Q1 24 | $35.9M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | — | -17.7% | ||
| Q3 25 | — | -33.6% | ||
| Q2 25 | — | -34.8% | ||
| Q1 25 | — | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | — | -493.2% | ||
| Q2 24 | — | -1705.5% | ||
| Q1 24 | — | -267.0% |
| Q4 25 | 22.7% | -33.9% | ||
| Q3 25 | 19.3% | -62.2% | ||
| Q2 25 | 47.1% | 527.8% | ||
| Q1 25 | 48.0% | -76.9% | ||
| Q4 24 | 46.8% | -91.6% | ||
| Q3 24 | 58.5% | -506.3% | ||
| Q2 24 | -4.3% | -1712.6% | ||
| Q1 24 | 66.6% | -283.9% |
| Q4 25 | $0.13 | $-4.40 | ||
| Q3 25 | $0.12 | $-2.84 | ||
| Q2 25 | $0.19 | $-1.79 | ||
| Q1 25 | $0.20 | $-0.15 | ||
| Q4 24 | $0.28 | $-15.29 | ||
| Q3 24 | $0.30 | $-18.24 | ||
| Q2 24 | $-0.11 | $-71.81 | ||
| Q1 24 | $0.35 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $-249.4M |
| Total Assets | $6.1B | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $48.9M | ||
| Q3 25 | $116.7M | $43.1M | ||
| Q2 25 | $414.1M | $40.8M | ||
| Q1 25 | $215.4M | $58.6M | ||
| Q4 24 | $184.4M | $56.3M | ||
| Q3 24 | $346.2M | $75.4M | ||
| Q2 24 | $94.8M | $89.6M | ||
| Q1 24 | $240.0M | $112.8M |
| Q4 25 | $1.4B | $-249.4M | ||
| Q3 25 | $1.5B | $-235.7M | ||
| Q2 25 | $1.5B | $-214.1M | ||
| Q1 25 | $1.5B | $-417.5M | ||
| Q4 24 | $1.5B | $-398.4M | ||
| Q3 24 | $1.5B | $-344.1M | ||
| Q2 24 | $1.5B | $-203.2M | ||
| Q1 24 | $1.6B | $371.6M |
| Q4 25 | $6.1B | $308.9M | ||
| Q3 25 | $6.2B | $362.6M | ||
| Q2 25 | $5.6B | $379.2M | ||
| Q1 25 | $5.7B | $405.1M | ||
| Q4 24 | $6.0B | $437.4M | ||
| Q3 24 | $6.3B | $537.8M | ||
| Q2 24 | $6.3B | $691.5M | ||
| Q1 24 | $6.0B | $1.3B |
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 | $8.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 15.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $291.9M | $8.2M | ||
| Q3 25 | $-148.1M | $11.4M | ||
| Q2 25 | $11.8M | $-21.3M | ||
| Q1 25 | $116.2M | $8.5M | ||
| Q4 24 | $57.2M | $-14.7M | ||
| Q3 24 | $97.4M | $-9.4M | ||
| Q2 24 | $1.9M | $-11.9M | ||
| Q1 24 | $13.0M | $-621.0K |
| Q4 25 | 15.88× | — | ||
| Q3 25 | -8.56× | — | ||
| Q2 25 | 0.51× | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
