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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $85.1M, roughly 1.3× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -1.6%, a 24.4% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $28.5M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 0.7%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
FDMT vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $113.9M |
| Net Profit | $19.4M | $-1.8M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | -22.1% |
| Net Margin | 22.8% | -1.6% |
| Revenue YoY | 8508900.0% | 3.1% |
| Net Profit YoY | 139.1% | 92.6% |
| EPS (diluted) | $0.43 | $-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.
| Q4 25 | $85.1M | $113.9M | ||
| Q3 25 | $90.0K | $110.9M | ||
| Q2 25 | $15.0K | $112.1M | ||
| Q1 25 | $14.0K | $111.9M | ||
| Q4 24 | $1.0K | $110.5M | ||
| Q3 24 | $3.0K | $108.9M | ||
| Q2 24 | $5.0K | $110.6M | ||
| Q1 24 | $28.0K | $112.2M |
| Q4 25 | $19.4M | $-1.8M | ||
| Q3 25 | $-56.9M | $-21.6M | ||
| Q2 25 | $-54.7M | $-21.3M | ||
| Q1 25 | $-48.0M | $-21.5M | ||
| Q4 24 | — | $-24.1M | ||
| Q3 24 | $-43.8M | $-25.0M | ||
| Q2 24 | $-35.0M | $-23.2M | ||
| Q1 24 | $-32.4M | $-23.4M |
| Q4 25 | 17.3% | -22.1% | ||
| Q3 25 | -67983.3% | -29.4% | ||
| Q2 25 | -396373.3% | -30.8% | ||
| Q1 25 | -383007.1% | -26.9% | ||
| Q4 24 | — | -31.1% | ||
| Q3 24 | -1704400.0% | -33.5% | ||
| Q2 24 | -849120.0% | -32.4% | ||
| Q1 24 | -136200.0% | -31.7% |
| Q4 25 | 22.8% | -1.6% | ||
| Q3 25 | -63195.6% | -19.4% | ||
| Q2 25 | -364386.7% | -19.0% | ||
| Q1 25 | -342657.1% | -19.2% | ||
| Q4 24 | — | -21.8% | ||
| Q3 24 | -1461433.3% | -22.9% | ||
| Q2 24 | -699060.0% | -20.9% | ||
| Q1 24 | -115717.9% | -20.9% |
| Q4 25 | $0.43 | $-0.02 | ||
| Q3 25 | $-1.01 | $-0.33 | ||
| Q2 25 | $-0.98 | $-0.32 | ||
| Q1 25 | $-0.86 | $-0.33 | ||
| Q4 24 | — | $-0.37 | ||
| Q3 24 | $-0.79 | $-0.38 | ||
| Q2 24 | $-0.63 | $-0.35 | ||
| Q1 24 | $-0.66 | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $402.7M | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $505.7M | $489.7M |
| Total Assets | $566.7M | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $94.8M | ||
| Q3 25 | $305.1M | $83.2M | ||
| Q2 25 | $293.2M | $58.6M | ||
| Q1 25 | $321.4M | $108.0M | ||
| Q4 24 | $424.9M | $131.7M | ||
| Q3 24 | $501.9M | $153.9M | ||
| Q2 24 | $541.9M | $146.2M | ||
| Q1 24 | $525.9M | $128.4M |
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $505.7M | $489.7M | ||
| Q3 25 | $369.0M | $494.1M | ||
| Q2 25 | $420.9M | $519.1M | ||
| Q1 25 | $469.7M | $539.5M | ||
| Q4 24 | $510.6M | $562.0M | ||
| Q3 24 | $552.9M | $585.9M | ||
| Q2 24 | $588.3M | $618.3M | ||
| Q1 24 | $600.6M | $643.2M |
| Q4 25 | $566.7M | $5.2B | ||
| Q3 25 | $424.0M | $5.2B | ||
| Q2 25 | $473.6M | $5.2B | ||
| Q1 25 | $515.7M | $5.4B | ||
| Q4 24 | $560.4M | $5.4B | ||
| Q3 24 | $604.0M | $5.5B | ||
| Q2 24 | $620.1M | $5.5B | ||
| Q1 24 | $629.9M | $5.5B |
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $28.6M | $60.7M |
| Free Cash FlowOCF − Capex | $28.5M | $42.0M |
| FCF MarginFCF / Revenue | 33.5% | 36.9% |
| Capex IntensityCapex / Revenue | 0.1% | 16.4% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $60.7M | ||
| Q3 25 | $-46.5M | $22.7M | ||
| Q2 25 | $-43.4M | $18.4M | ||
| Q1 25 | $-47.8M | $11.4M | ||
| Q4 24 | $-134.6M | $2.0M | ||
| Q3 24 | $-29.4M | $-3.4M | ||
| Q2 24 | $-30.2M | $10.8M | ||
| Q1 24 | $-29.1M | $8.0M |
| Q4 25 | $28.5M | $42.0M | ||
| Q3 25 | $-46.6M | $17.6M | ||
| Q2 25 | $-43.4M | $15.2M | ||
| Q1 25 | $-48.4M | $5.0M | ||
| Q4 24 | $-138.4M | $-3.7M | ||
| Q3 24 | $-31.2M | $-5.9M | ||
| Q2 24 | $-30.6M | $9.4M | ||
| Q1 24 | $-29.8M | $5.9M |
| Q4 25 | 33.5% | 36.9% | ||
| Q3 25 | -51765.6% | 15.9% | ||
| Q2 25 | -289620.0% | 13.5% | ||
| Q1 25 | -345635.7% | 4.5% | ||
| Q4 24 | -13837100.0% | -3.4% | ||
| Q3 24 | -1038966.7% | -5.5% | ||
| Q2 24 | -611840.0% | 8.5% | ||
| Q1 24 | -106421.4% | 5.2% |
| Q4 25 | 0.1% | 16.4% | ||
| Q3 25 | 101.1% | 4.6% | ||
| Q2 25 | 440.0% | 2.9% | ||
| Q1 25 | 4507.1% | 5.7% | ||
| Q4 24 | 378600.0% | 5.2% | ||
| Q3 24 | 59266.7% | 2.3% | ||
| Q2 24 | 6980.0% | 1.3% | ||
| Q1 24 | 2535.7% | 1.9% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
