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Side-by-side financial comparison of FARMERS NATIONAL BANC CORP (FMNB) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

FARMERS NATIONAL BANC CORP is the larger business by last-quarter revenue ($71.5M vs $66.7M, roughly 1.1× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 20.5%, a 27.3% gap on every dollar of revenue. On growth, FARMERS NATIONAL BANC CORP posted the faster year-over-year revenue change (3.2% vs -13.1%). Over the past eight quarters, FARMERS NATIONAL BANC CORP's revenue compounded faster (6.2% CAGR vs -6.0%).

Farmers National Banc Corp (OH) is a regional financial holding company based in Ohio, the United States. It offers full-spectrum retail and commercial banking products, wealth management solutions, and insurance services, primarily catering to individual consumers, small and medium-sized enterprises, and local community clients in Ohio and adjacent Midwestern U.S. regions.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

FMNB vs IIPR — Head-to-Head

Bigger by revenue
FMNB
FMNB
1.1× larger
FMNB
$71.5M
$66.7M
IIPR
Growing faster (revenue YoY)
FMNB
FMNB
+16.3% gap
FMNB
3.2%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
27.3% more per $
IIPR
47.8%
20.5%
FMNB
Faster 2-yr revenue CAGR
FMNB
FMNB
Annualised
FMNB
6.2%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
FMNB
FMNB
IIPR
IIPR
Revenue
$71.5M
$66.7M
Net Profit
$14.6M
$31.8M
Gross Margin
Operating Margin
24.8%
47.8%
Net Margin
20.5%
47.8%
Revenue YoY
3.2%
-13.1%
Net Profit YoY
1.7%
-20.4%
EPS (diluted)
$0.39
$1.07

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
FMNB
FMNB
IIPR
IIPR
Q4 25
$71.5M
$66.7M
Q3 25
$70.8M
$64.7M
Q2 25
$69.8M
$62.9M
Q1 25
$67.8M
$71.7M
Q4 24
$69.3M
$76.7M
Q3 24
$70.3M
$76.5M
Q2 24
$66.5M
$79.8M
Q1 24
$63.4M
$75.5M
Net Profit
FMNB
FMNB
IIPR
IIPR
Q4 25
$14.6M
$31.8M
Q3 25
$12.5M
$29.3M
Q2 25
$13.9M
$26.0M
Q1 25
$13.6M
$31.1M
Q4 24
$14.4M
$40.0M
Q3 24
$8.5M
$40.2M
Q2 24
$11.8M
$42.0M
Q1 24
$11.2M
$39.4M
Operating Margin
FMNB
FMNB
IIPR
IIPR
Q4 25
24.8%
47.8%
Q3 25
20.7%
45.5%
Q2 25
23.4%
45.9%
Q1 25
24.1%
47.4%
Q4 24
25.5%
54.7%
Q3 24
14.4%
54.8%
Q2 24
21.3%
53.1%
Q1 24
21.2%
55.7%
Net Margin
FMNB
FMNB
IIPR
IIPR
Q4 25
20.5%
47.8%
Q3 25
17.6%
45.3%
Q2 25
19.9%
41.4%
Q1 25
20.0%
43.3%
Q4 24
20.8%
52.2%
Q3 24
12.1%
52.6%
Q2 24
17.7%
52.6%
Q1 24
17.7%
52.3%
EPS (diluted)
FMNB
FMNB
IIPR
IIPR
Q4 25
$0.39
$1.07
Q3 25
$0.33
$0.97
Q2 25
$0.37
$0.86
Q1 25
$0.36
$1.03
Q4 24
$0.38
$1.35
Q3 24
$0.23
$1.37
Q2 24
$0.31
$1.44
Q1 24
$0.30
$1.36

Balance Sheet & Financial Strength

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

Metric
FMNB
FMNB
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$47.6M
Total DebtLower is stronger
$86.7M
$393.7M
Stockholders' EquityBook value
$485.7M
$1.8B
Total Assets
$5.2B
$2.4B
Debt / EquityLower = less leverage
0.18×
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FMNB
FMNB
IIPR
IIPR
Q4 25
$47.6M
Q3 25
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$172.4M
Q2 24
$160.9M
Q1 24
$173.5M
Total Debt
FMNB
FMNB
IIPR
IIPR
Q4 25
$86.7M
$393.7M
Q3 25
$86.6M
Q2 25
$86.4M
Q1 25
$86.3M
Q4 24
$86.2M
Q3 24
$86.0M
Q2 24
$88.9M
Q1 24
$88.8M
Stockholders' Equity
FMNB
FMNB
IIPR
IIPR
Q4 25
$485.7M
$1.8B
Q3 25
$465.9M
$1.9B
Q2 25
$437.7M
$1.9B
Q1 25
$429.1M
$1.9B
Q4 24
$406.0M
$1.9B
Q3 24
$439.7M
$1.9B
Q2 24
$396.7M
$1.9B
Q1 24
$397.0M
$2.0B
Total Assets
FMNB
FMNB
IIPR
IIPR
Q4 25
$5.2B
$2.4B
Q3 25
$5.2B
$2.3B
Q2 25
$5.2B
$2.3B
Q1 25
$5.2B
$2.4B
Q4 24
$5.1B
$2.4B
Q3 24
$5.2B
$2.4B
Q2 24
$5.2B
$2.4B
Q1 24
$5.1B
$2.4B
Debt / Equity
FMNB
FMNB
IIPR
IIPR
Q4 25
0.18×
0.21×
Q3 25
0.19×
Q2 25
0.20×
Q1 25
0.20×
Q4 24
0.21×
Q3 24
0.20×
Q2 24
0.22×
Q1 24
0.22×

Cash Flow & Capital Efficiency

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

Metric
FMNB
FMNB
IIPR
IIPR
Operating Cash FlowLast quarter
$60.0M
$198.2M
Free Cash FlowOCF − Capex
$52.2M
FCF MarginFCF / Revenue
73.0%
Capex IntensityCapex / Revenue
11.0%
Cash ConversionOCF / Net Profit
4.10×
6.22×
TTM Free Cash FlowTrailing 4 quarters
$85.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FMNB
FMNB
IIPR
IIPR
Q4 25
$60.0M
$198.2M
Q3 25
$10.7M
$45.6M
Q2 25
$14.0M
$48.4M
Q1 25
$15.7M
$54.2M
Q4 24
$66.6M
$258.4M
Q3 24
$23.9M
$64.9M
Q2 24
$16.6M
$64.2M
Q1 24
$13.7M
$71.6M
Free Cash Flow
FMNB
FMNB
IIPR
IIPR
Q4 25
$52.2M
Q3 25
$9.0M
Q2 25
$12.4M
Q1 25
$12.2M
Q4 24
$54.9M
Q3 24
$20.4M
Q2 24
$14.4M
Q1 24
$12.2M
FCF Margin
FMNB
FMNB
IIPR
IIPR
Q4 25
73.0%
Q3 25
12.8%
Q2 25
17.8%
Q1 25
18.0%
Q4 24
79.2%
Q3 24
29.1%
Q2 24
21.6%
Q1 24
19.2%
Capex Intensity
FMNB
FMNB
IIPR
IIPR
Q4 25
11.0%
Q3 25
2.4%
Q2 25
2.3%
Q1 25
5.2%
Q4 24
16.9%
Q3 24
4.9%
Q2 24
3.3%
Q1 24
2.4%
Cash Conversion
FMNB
FMNB
IIPR
IIPR
Q4 25
4.10×
6.22×
Q3 25
0.86×
1.56×
Q2 25
1.01×
1.86×
Q1 25
1.15×
1.75×
Q4 24
4.63×
6.46×
Q3 24
2.80×
1.61×
Q2 24
1.41×
1.53×
Q1 24
1.22×
1.82×

Financial Flow Comparison

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

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