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Side-by-side financial comparison of Four Corners Property Trust, Inc. (FCPT) and MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI). Click either name above to swap in a different company.

Four Corners Property Trust, Inc. is the larger business by last-quarter revenue ($78.2M vs $49.9M, roughly 1.6× MARAVAI LIFESCIENCES HOLDINGS, INC.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs -71.6%, a 110.4% gap on every dollar of revenue. On growth, Four Corners Property Trust, Inc. posted the faster year-over-year revenue change (9.4% vs -11.8%). Over the past eight quarters, Four Corners Property Trust, Inc.'s revenue compounded faster (8.4% CAGR vs -11.9%).

Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.

Maravai LifeSciences Holdings is a global life sciences firm developing critical reagents, diagnostic products, and tech solutions to support biopharma research, drug development, clinical diagnostics, and cell/gene therapy manufacturing. It serves biotech, pharma, research bodies and labs worldwide across three core segments.

FCPT vs MRVI — Head-to-Head

Bigger by revenue
FCPT
FCPT
1.6× larger
FCPT
$78.2M
$49.9M
MRVI
Growing faster (revenue YoY)
FCPT
FCPT
+21.2% gap
FCPT
9.4%
-11.8%
MRVI
Higher net margin
FCPT
FCPT
110.4% more per $
FCPT
38.8%
-71.6%
MRVI
Faster 2-yr revenue CAGR
FCPT
FCPT
Annualised
FCPT
8.4%
-11.9%
MRVI

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
FCPT
FCPT
MRVI
MRVI
Revenue
$78.2M
$49.9M
Net Profit
$30.4M
$-35.7M
Gross Margin
25.8%
Operating Margin
55.3%
-117.9%
Net Margin
38.8%
-71.6%
Revenue YoY
9.4%
-11.8%
Net Profit YoY
16.0%
-37.7%
EPS (diluted)
$0.28
$-0.24

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
FCPT
FCPT
MRVI
MRVI
Q1 26
$78.2M
Q4 25
$75.7M
$49.9M
Q3 25
$74.1M
$41.6M
Q2 25
$72.8M
$47.4M
Q1 25
$71.5M
$46.9M
Q4 24
$68.3M
$56.6M
Q3 24
$66.8M
$69.0M
Q2 24
$66.5M
$69.4M
Net Profit
FCPT
FCPT
MRVI
MRVI
Q1 26
$30.4M
Q4 25
$29.4M
$-35.7M
Q3 25
$28.8M
$-25.6M
Q2 25
$27.9M
$-39.6M
Q1 25
$26.2M
$-29.9M
Q4 24
$26.2M
$-25.9M
Q3 24
$25.6M
$-97.1M
Q2 24
$24.7M
$-9.8M
Gross Margin
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
25.8%
Q3 25
13.6%
Q2 25
16.4%
Q1 25
16.5%
Q4 24
34.3%
Q3 24
46.7%
Q2 24
44.4%
Operating Margin
FCPT
FCPT
MRVI
MRVI
Q1 26
55.3%
Q4 25
-117.9%
Q3 25
-98.6%
Q2 25
-139.8%
Q1 25
-104.9%
Q4 24
-66.7%
Q3 24
-239.9%
Q2 24
-19.4%
Net Margin
FCPT
FCPT
MRVI
MRVI
Q1 26
38.8%
Q4 25
38.9%
-71.6%
Q3 25
38.9%
-61.4%
Q2 25
38.3%
-83.5%
Q1 25
36.6%
-63.9%
Q4 24
38.3%
-45.8%
Q3 24
38.3%
-140.6%
Q2 24
37.1%
-14.1%
EPS (diluted)
FCPT
FCPT
MRVI
MRVI
Q1 26
$0.28
Q4 25
$0.27
$-0.24
Q3 25
$0.28
$-0.18
Q2 25
$0.28
$-0.27
Q1 25
$0.26
$-0.21
Q4 24
$0.27
$-0.21
Q3 24
$0.27
$-0.68
Q2 24
$0.27
$-0.07

Balance Sheet & Financial Strength

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

Metric
FCPT
FCPT
MRVI
MRVI
Cash + ST InvestmentsLiquidity on hand
$29.6M
$216.9M
Total DebtLower is stronger
$291.8M
Stockholders' EquityBook value
$1.7B
$212.4M
Total Assets
$3.0B
$770.6M
Debt / EquityLower = less leverage
1.37×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FCPT
FCPT
MRVI
MRVI
Q1 26
$29.6M
Q4 25
$12.1M
$216.9M
Q3 25
$6.7M
$243.6M
Q2 25
$6.0M
$269.9M
Q1 25
$22.3M
$285.1M
Q4 24
$4.1M
$322.4M
Q3 24
$44.5M
$578.2M
Q2 24
$17.2M
$573.2M
Total Debt
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
$1.2B
$291.8M
Q3 25
$1.2B
$292.8M
Q2 25
$1.2B
$293.9M
Q1 25
$1.2B
$294.9M
Q4 24
$1.1B
$295.9M
Q3 24
$1.1B
$521.7M
Q2 24
$1.2B
$522.5M
Stockholders' Equity
FCPT
FCPT
MRVI
MRVI
Q1 26
$1.7B
Q4 25
$1.6B
$212.4M
Q3 25
$1.5B
$245.4M
Q2 25
$1.5B
$265.9M
Q1 25
$1.4B
$300.6M
Q4 24
$1.5B
$325.3M
Q3 24
$1.4B
$344.9M
Q2 24
$1.3B
$434.7M
Total Assets
FCPT
FCPT
MRVI
MRVI
Q1 26
$3.0B
Q4 25
$2.9B
$770.6M
Q3 25
$2.8B
$849.2M
Q2 25
$2.8B
$897.0M
Q1 25
$2.7B
$959.8M
Q4 24
$2.7B
$1.0B
Q3 24
$2.6B
$1.3B
Q2 24
$2.5B
$1.4B
Debt / Equity
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
0.74×
1.37×
Q3 25
0.79×
1.19×
Q2 25
0.81×
1.11×
Q1 25
0.84×
0.98×
Q4 24
0.78×
0.91×
Q3 24
0.84×
1.51×
Q2 24
0.92×
1.20×

Cash Flow & Capital Efficiency

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

Metric
FCPT
FCPT
MRVI
MRVI
Operating Cash FlowLast quarter
$-22.8M
Free Cash FlowOCF − Capex
$-24.9M
FCF MarginFCF / Revenue
-49.9%
Capex IntensityCapex / Revenue
4.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-70.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
$192.3M
$-22.8M
Q3 25
$48.9M
$-15.2M
Q2 25
$43.8M
$-10.3M
Q1 25
$51.6M
$-9.4M
Q4 24
$144.1M
$-14.6M
Q3 24
$43.4M
$13.1M
Q2 24
$39.7M
$17.4M
Free Cash Flow
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
$-24.9M
Q3 25
$-18.1M
Q2 25
$-13.1M
Q1 25
$-14.6M
Q4 24
$-20.5M
Q3 24
$4.5M
Q2 24
$7.9M
FCF Margin
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
-49.9%
Q3 25
-43.4%
Q2 25
-27.7%
Q1 25
-31.2%
Q4 24
-36.2%
Q3 24
6.6%
Q2 24
11.4%
Capex Intensity
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
4.2%
Q3 25
7.0%
Q2 25
6.1%
Q1 25
11.2%
Q4 24
10.3%
Q3 24
12.4%
Q2 24
13.8%
Cash Conversion
FCPT
FCPT
MRVI
MRVI
Q1 26
Q4 25
6.53×
Q3 25
1.70×
Q2 25
1.57×
Q1 25
1.97×
Q4 24
5.51×
Q3 24
1.70×
Q2 24
1.61×

Financial Flow Comparison

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

Revenue Breakdown by Segment

FCPT
FCPT

Rental revenue$69.8M89%
Restaurant revenue$8.4M11%

MRVI
MRVI

Cygnus Segment$27.2M54%
Other$18.4M37%
Shipping And Handling$4.3M9%

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