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Side-by-side financial comparison of Four Corners Property Trust, Inc. (FCPT) and SolarMax Technology, Inc. (SMXT). 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 $46.6M, roughly 1.7× SolarMax Technology, Inc.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs -1.9%, a 40.7% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% 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.

SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.

FCPT vs SMXT — Head-to-Head

Bigger by revenue
FCPT
FCPT
1.7× larger
FCPT
$78.2M
$46.6M
SMXT
Growing faster (revenue YoY)
SMXT
SMXT
+614.1% gap
SMXT
623.5%
9.4%
FCPT
Higher net margin
FCPT
FCPT
40.7% more per $
FCPT
38.8%
-1.9%
SMXT

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
FCPT
FCPT
SMXT
SMXT
Revenue
$78.2M
$46.6M
Net Profit
$30.4M
$-872.2K
Gross Margin
2.7%
Operating Margin
55.3%
-2.7%
Net Margin
38.8%
-1.9%
Revenue YoY
9.4%
623.5%
Net Profit YoY
16.0%
77.7%
EPS (diluted)
$0.28
$-0.02

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
SMXT
SMXT
Q1 26
$78.2M
Q4 25
$75.7M
$46.6M
Q3 25
$74.1M
$30.6M
Q2 25
$72.8M
$6.9M
Q1 25
$71.5M
$6.9M
Q4 24
$68.3M
$6.4M
Q3 24
$66.8M
$6.3M
Q2 24
$66.5M
Net Profit
FCPT
FCPT
SMXT
SMXT
Q1 26
$30.4M
Q4 25
$29.4M
$-872.2K
Q3 25
$28.8M
$-2.3M
Q2 25
$27.9M
$-1.9M
Q1 25
$26.2M
$-1.3M
Q4 24
$26.2M
$-3.9M
Q3 24
$25.6M
$-9.6M
Q2 24
$24.7M
Gross Margin
FCPT
FCPT
SMXT
SMXT
Q1 26
Q4 25
2.7%
Q3 25
3.1%
Q2 25
8.8%
Q1 25
20.5%
Q4 24
14.5%
Q3 24
19.9%
Q2 24
Operating Margin
FCPT
FCPT
SMXT
SMXT
Q1 26
55.3%
Q4 25
-2.7%
Q3 25
-6.9%
Q2 25
-25.7%
Q1 25
-16.7%
Q4 24
-27.9%
Q3 24
-158.4%
Q2 24
Net Margin
FCPT
FCPT
SMXT
SMXT
Q1 26
38.8%
Q4 25
38.9%
-1.9%
Q3 25
38.9%
-7.4%
Q2 25
38.3%
-27.6%
Q1 25
36.6%
-18.7%
Q4 24
38.3%
-60.6%
Q3 24
38.3%
-152.0%
Q2 24
37.1%
EPS (diluted)
FCPT
FCPT
SMXT
SMXT
Q1 26
$0.28
Q4 25
$0.27
$-0.02
Q3 25
$0.28
$-0.04
Q2 25
$0.28
$-0.04
Q1 25
$0.26
$-0.03
Q4 24
$0.27
$-0.07
Q3 24
$0.27
$-0.21
Q2 24
$0.27

Balance Sheet & Financial Strength

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

Metric
FCPT
FCPT
SMXT
SMXT
Cash + ST InvestmentsLiquidity on hand
$29.6M
$8.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.7B
$-12.2M
Total Assets
$3.0B
$91.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FCPT
FCPT
SMXT
SMXT
Q1 26
$29.6M
Q4 25
$12.1M
$8.0M
Q3 25
$6.7M
$5.7M
Q2 25
$6.0M
$1.9M
Q1 25
$22.3M
$6.8M
Q4 24
$4.1M
$7.1M
Q3 24
$44.5M
$8.6M
Q2 24
$17.2M
Total Debt
FCPT
FCPT
SMXT
SMXT
Q1 26
Q4 25
$1.2B
Q3 25
$1.2B
Q2 25
$1.2B
Q1 25
$1.2B
Q4 24
$1.1B
Q3 24
$1.1B
Q2 24
$1.2B
Stockholders' Equity
FCPT
FCPT
SMXT
SMXT
Q1 26
$1.7B
Q4 25
$1.6B
$-12.2M
Q3 25
$1.5B
$-11.8M
Q2 25
$1.5B
$-15.1M
Q1 25
$1.4B
$-15.9M
Q4 24
$1.5B
$-15.1M
Q3 24
$1.4B
$-10.9M
Q2 24
$1.3B
Total Assets
FCPT
FCPT
SMXT
SMXT
Q1 26
$3.0B
Q4 25
$2.9B
$91.3M
Q3 25
$2.8B
$58.7M
Q2 25
$2.8B
$38.2M
Q1 25
$2.7B
$38.6M
Q4 24
$2.7B
$38.6M
Q3 24
$2.6B
$43.0M
Q2 24
$2.5B
Debt / Equity
FCPT
FCPT
SMXT
SMXT
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
FCPT
FCPT
SMXT
SMXT
Operating Cash FlowLast quarter
$-2.5M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FCPT
FCPT
SMXT
SMXT
Q1 26
Q4 25
$192.3M
$-2.5M
Q3 25
$48.9M
$3.4M
Q2 25
$43.8M
$220.7K
Q1 25
$51.6M
$-601.1K
Q4 24
$144.1M
$-1.3M
Q3 24
$43.4M
$203.6K
Q2 24
$39.7M
Capex Intensity
FCPT
FCPT
SMXT
SMXT
Q1 26
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
0.0%
Q2 24
Cash Conversion
FCPT
FCPT
SMXT
SMXT
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%

SMXT
SMXT

Yabucoa$35.9M77%
Other$10.7M23%

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