vs
Side-by-side financial comparison of Four Corners Property Trust, Inc. (FCPT) and Phathom Pharmaceuticals, Inc. (PHAT). 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 $57.6M, roughly 1.4× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 9.4%).
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.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
FCPT vs PHAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $57.6M |
| Net Profit | $30.4M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | 55.3% | — |
| Net Margin | 38.8% | — |
| Revenue YoY | 9.4% | 94.1% |
| Net Profit YoY | 16.0% | 71.6% |
| EPS (diluted) | $0.28 | — |
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.
| Q1 26 | $78.2M | — | ||
| Q4 25 | $75.7M | $57.6M | ||
| Q3 25 | $74.1M | $49.5M | ||
| Q2 25 | $72.8M | $39.5M | ||
| Q1 25 | $71.5M | $28.5M | ||
| Q4 24 | $68.3M | $29.7M | ||
| Q3 24 | $66.8M | $16.4M | ||
| Q2 24 | $66.5M | $7.3M |
| Q1 26 | $30.4M | — | ||
| Q4 25 | $29.4M | — | ||
| Q3 25 | $28.8M | $-30.0M | ||
| Q2 25 | $27.9M | $-75.8M | ||
| Q1 25 | $26.2M | $-94.3M | ||
| Q4 24 | $26.2M | — | ||
| Q3 24 | $25.6M | $-85.6M | ||
| Q2 24 | $24.7M | $-91.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% |
| Q1 26 | 55.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -30.8% | ||
| Q2 25 | — | -151.7% | ||
| Q1 25 | — | -276.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -433.0% | ||
| Q2 24 | — | -1055.4% |
| Q1 26 | 38.8% | — | ||
| Q4 25 | 38.9% | — | ||
| Q3 25 | 38.9% | -60.5% | ||
| Q2 25 | 38.3% | -191.9% | ||
| Q1 25 | 36.6% | -330.7% | ||
| Q4 24 | 38.3% | — | ||
| Q3 24 | 38.3% | -523.3% | ||
| Q2 24 | 37.1% | -1248.6% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.27 | — | ||
| Q3 25 | $0.28 | $-0.41 | ||
| Q2 25 | $0.28 | $-1.05 | ||
| Q1 25 | $0.26 | $-1.31 | ||
| Q4 24 | $0.27 | — | ||
| Q3 24 | $0.27 | $-1.32 | ||
| Q2 24 | $0.27 | $-1.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.6M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $1.7B | $-438.2M |
| Total Assets | $3.0B | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.6M | — | ||
| Q4 25 | $12.1M | $130.0M | ||
| Q3 25 | $6.7M | $135.2M | ||
| Q2 25 | $6.0M | $149.6M | ||
| Q1 25 | $22.3M | $212.3M | ||
| Q4 24 | $4.1M | $297.3M | ||
| Q3 24 | $44.5M | $334.7M | ||
| Q2 24 | $17.2M | $276.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $209.1M | ||
| Q3 25 | $1.2B | $207.1M | ||
| Q2 25 | $1.2B | $205.1M | ||
| Q1 25 | $1.2B | $203.2M | ||
| Q4 24 | $1.1B | $201.4M | ||
| Q3 24 | $1.1B | $175.7M | ||
| Q2 24 | $1.2B | $174.4M |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.6B | $-438.2M | ||
| Q3 25 | $1.5B | $-422.5M | ||
| Q2 25 | $1.5B | $-405.8M | ||
| Q1 25 | $1.4B | $-338.4M | ||
| Q4 24 | $1.5B | $-253.6M | ||
| Q3 24 | $1.4B | $-187.1M | ||
| Q2 24 | $1.3B | $-233.8M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $259.1M | ||
| Q3 25 | $2.8B | $240.3M | ||
| Q2 25 | $2.8B | $250.2M | ||
| Q1 25 | $2.7B | $294.2M | ||
| Q4 24 | $2.7B | $378.3M | ||
| Q3 24 | $2.6B | $387.0M | ||
| Q2 24 | $2.5B | $319.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 0.84× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 0.84× | — | ||
| Q2 24 | 0.92× | — |
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 | — | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $192.3M | $-166.8M | ||
| Q3 25 | $48.9M | $-14.1M | ||
| Q2 25 | $43.8M | $-62.7M | ||
| Q1 25 | $51.6M | $-84.9M | ||
| Q4 24 | $144.1M | $-266.8M | ||
| Q3 24 | $43.4M | $-63.6M | ||
| Q2 24 | $39.7M | $-70.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | — | $-70.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | — | -966.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% |
| 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
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
PHAT
Segment breakdown not available.
