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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $85.1M, roughly 1.9× 4D Molecular Therapeutics, Inc.). On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 2.5%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 2.2%).
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.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
FDMT vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $165.3M |
| Net Profit | $19.4M | — |
| Gross Margin | — | — |
| Operating Margin | 17.3% | — |
| Net Margin | 22.8% | — |
| Revenue YoY | 8508900.0% | 2.5% |
| Net Profit YoY | 139.1% | — |
| EPS (diluted) | $0.43 | $0.00 |
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 | — | $165.3M | ||
| Q4 25 | $85.1M | $167.1M | ||
| Q3 25 | $90.0K | $167.1M | ||
| Q2 25 | $15.0K | $162.2M | ||
| Q1 25 | $14.0K | $161.2M | ||
| Q4 24 | $1.0K | $161.0M | ||
| Q3 24 | $3.0K | $160.1M | ||
| Q2 24 | $5.0K | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | $19.4M | $33.3M | ||
| Q3 25 | $-56.9M | $6.9M | ||
| Q2 25 | $-54.7M | $8.0M | ||
| Q1 25 | $-48.0M | $8.4M | ||
| Q4 24 | — | $-1.0M | ||
| Q3 24 | $-43.8M | $12.4M | ||
| Q2 24 | $-35.0M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | — | ||
| Q3 25 | -67983.3% | — | ||
| Q2 25 | -396373.3% | — | ||
| Q1 25 | -383007.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1704400.0% | — | ||
| Q2 24 | -849120.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 22.8% | 19.9% | ||
| Q3 25 | -63195.6% | 4.1% | ||
| Q2 25 | -364386.7% | 5.0% | ||
| Q1 25 | -342657.1% | 5.2% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | -1461433.3% | 7.7% | ||
| Q2 24 | -699060.0% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $0.43 | $0.14 | ||
| Q3 25 | $-1.01 | $0.03 | ||
| Q2 25 | $-0.98 | $0.03 | ||
| Q1 25 | $-0.86 | $0.04 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | $-0.79 | $0.05 | ||
| Q2 24 | $-0.63 | $0.05 |
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 | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | $3.4B |
| Total Assets | $566.7M | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $402.7M | $23.6M | ||
| Q3 25 | $305.1M | $23.3M | ||
| Q2 25 | $293.2M | $19.5M | ||
| Q1 25 | $321.4M | $29.1M | ||
| Q4 24 | $424.9M | $21.2M | ||
| Q3 24 | $501.9M | $17.6M | ||
| Q2 24 | $541.9M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $505.7M | $3.5B | ||
| Q3 25 | $369.0M | $3.5B | ||
| Q2 25 | $420.9M | $3.4B | ||
| Q1 25 | $469.7M | $3.5B | ||
| Q4 24 | $510.6M | $3.4B | ||
| Q3 24 | $552.9M | $3.4B | ||
| Q2 24 | $588.3M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $566.7M | $6.0B | ||
| Q3 25 | $424.0M | $6.1B | ||
| Q2 25 | $473.6M | $6.0B | ||
| Q1 25 | $515.7M | $6.0B | ||
| Q4 24 | $560.4M | $6.1B | ||
| Q3 24 | $604.0M | $5.9B | ||
| Q2 24 | $620.1M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | — |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 33.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.6M | $282.1M | ||
| Q3 25 | $-46.5M | $79.3M | ||
| Q2 25 | $-43.4M | $82.2M | ||
| Q1 25 | $-47.8M | $60.4M | ||
| Q4 24 | $-134.6M | $259.8M | ||
| Q3 24 | $-29.4M | $69.2M | ||
| Q2 24 | $-30.2M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $28.5M | — | ||
| Q3 25 | $-46.6M | — | ||
| Q2 25 | $-43.4M | — | ||
| Q1 25 | $-48.4M | — | ||
| Q4 24 | $-138.4M | — | ||
| Q3 24 | $-31.2M | — | ||
| Q2 24 | $-30.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 33.5% | — | ||
| Q3 25 | -51765.6% | — | ||
| Q2 25 | -289620.0% | — | ||
| Q1 25 | -345635.7% | — | ||
| Q4 24 | -13837100.0% | — | ||
| Q3 24 | -1038966.7% | — | ||
| Q2 24 | -611840.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 101.1% | — | ||
| Q2 25 | 440.0% | — | ||
| Q1 25 | 4507.1% | — | ||
| Q4 24 | 378600.0% | — | ||
| Q3 24 | 59266.7% | — | ||
| Q2 24 | 6980.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.47× | 8.48× | ||
| Q3 25 | — | 11.51× | ||
| Q2 25 | — | 10.22× | ||
| Q1 25 | — | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.60× | ||
| Q2 24 | — | 8.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
