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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
Farmland Partners Inc. is the larger business by last-quarter revenue ($20.7M vs $13.2M, roughly 1.6× TriSalus Life Sciences, Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -73.9%, a 177.3% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs -3.5%). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs 31.4%).
Farmland Industries was the largest agricultural cooperative in North America when it eventually sold all of its assets in 2002–04. During its 74-year history, Farmland served its farmer membership as a diversified, integrated organization, playing a significant role in agricultural markets both domestically and worldwide.
TriSalus Life Sciences, Inc. is a clinical-stage biotechnology company focused on advancing immuno-oncology and interventional oncology solutions. It develops proprietary targeted drug delivery technologies designed to improve treatment efficacy for patients with liver, pancreatic and other hard-to-treat solid tumors, primarily operating in North American markets via partnerships with clinical care and research institutions.
FPI vs TLSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $13.2M |
| Net Profit | $21.4M | $-9.8M |
| Gross Margin | — | 86.7% |
| Operating Margin | — | -24.8% |
| Net Margin | 103.4% | -73.9% |
| Revenue YoY | -3.5% | 59.8% |
| Net Profit YoY | -63.5% | 3.5% |
| EPS (diluted) | $0.44 | $-0.22 |
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 | $20.7M | $13.2M | ||
| Q3 25 | $11.3M | $11.6M | ||
| Q2 25 | $10.0M | $11.2M | ||
| Q1 25 | $10.3M | $9.2M | ||
| Q4 24 | $21.5M | $8.3M | ||
| Q3 24 | $13.3M | $7.3M | ||
| Q2 24 | $11.4M | $7.4M | ||
| Q1 24 | $12.0M | $6.5M |
| Q4 25 | $21.4M | $-9.8M | ||
| Q3 25 | $483.0K | $-10.8M | ||
| Q2 25 | $7.6M | $-8.3M | ||
| Q1 25 | $2.0M | $-10.4M | ||
| Q4 24 | $58.7M | $-10.1M | ||
| Q3 24 | $1.8M | $-2.4M | ||
| Q2 24 | $-2.0M | $-4.3M | ||
| Q1 24 | $1.4M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 83.5% | ||
| Q2 25 | — | 83.9% | ||
| Q1 25 | — | 83.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 86.3% | ||
| Q2 24 | — | 87.6% | ||
| Q1 24 | — | 85.0% |
| Q4 25 | — | -24.8% | ||
| Q3 25 | 4.3% | -77.9% | ||
| Q2 25 | 78.2% | -65.4% | ||
| Q1 25 | 20.6% | -79.9% | ||
| Q4 24 | — | -91.8% | ||
| Q3 24 | 13.9% | -118.9% | ||
| Q2 24 | -17.9% | -111.0% | ||
| Q1 24 | 11.9% | -180.8% |
| Q4 25 | 103.4% | -73.9% | ||
| Q3 25 | 4.3% | -93.5% | ||
| Q2 25 | 76.3% | -73.9% | ||
| Q1 25 | 19.9% | -113.2% | ||
| Q4 24 | 273.6% | -122.4% | ||
| Q3 24 | 13.5% | -32.6% | ||
| Q2 24 | -17.5% | -58.8% | ||
| Q1 24 | 11.5% | -204.5% |
| Q4 25 | $0.44 | $-0.22 | ||
| Q3 25 | $0.00 | $-0.96 | ||
| Q2 25 | $0.14 | $-0.27 | ||
| Q1 25 | $0.03 | $-0.39 | ||
| Q4 24 | $1.09 | $-0.38 | ||
| Q3 24 | $0.02 | $-0.12 | ||
| Q2 24 | $-0.06 | $-0.21 | ||
| Q1 24 | $0.01 | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.4M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $-33.9M |
| Total Assets | $719.1M | $35.3M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.4M | ||
| Q3 25 | — | $22.7M | ||
| Q2 25 | — | $26.5M | ||
| Q1 25 | — | $13.0M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $16.5M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $161.6M | — | ||
| Q3 25 | $170.4M | — | ||
| Q2 25 | $193.4M | — | ||
| Q1 25 | $202.6M | — | ||
| Q4 24 | $204.6M | — | ||
| Q3 24 | $394.0M | — | ||
| Q2 24 | $393.0M | — | ||
| Q1 24 | $383.0M | — |
| Q4 25 | $467.4M | $-33.9M | ||
| Q3 25 | $457.3M | $-26.7M | ||
| Q2 25 | $473.5M | $-19.4M | ||
| Q1 25 | $492.2M | $-34.4M | ||
| Q4 24 | $494.6M | $-25.9M | ||
| Q3 24 | $519.4M | $-20.4M | ||
| Q2 24 | $521.5M | $-25.3M | ||
| Q1 24 | $526.7M | $-36.0M |
| Q4 25 | $719.1M | $35.3M | ||
| Q3 25 | $738.5M | $36.5M | ||
| Q2 25 | $776.7M | $41.3M | ||
| Q1 25 | $810.5M | $28.6M | ||
| Q4 24 | $869.6M | $24.0M | ||
| Q3 24 | $1.0B | $27.5M | ||
| Q2 24 | $1.0B | $32.4M | ||
| Q1 24 | $1.0B | $17.9M |
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.41× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.73× | — |
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 | $17.4M | $-2.5M |
| Free Cash FlowOCF − Capex | — | $-2.5M |
| FCF MarginFCF / Revenue | — | -19.1% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $-2.5M | ||
| Q3 25 | $-2.0M | $-3.7M | ||
| Q2 25 | $-2.2M | $-7.3M | ||
| Q1 25 | $6.4M | $-4.5M | ||
| Q4 24 | $16.1M | $-5.7M | ||
| Q3 24 | $-4.3M | $-10.8M | ||
| Q2 24 | $-6.1M | $-13.4M | ||
| Q1 24 | $11.9M | $-10.9M |
| Q4 25 | — | $-2.5M | ||
| Q3 25 | — | $-3.9M | ||
| Q2 25 | — | $-7.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $-5.8M | ||
| Q3 24 | — | $-11.0M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | — | $-10.9M |
| Q4 25 | — | -19.1% | ||
| Q3 25 | — | -33.9% | ||
| Q2 25 | — | -66.1% | ||
| Q1 25 | — | -57.3% | ||
| Q4 24 | — | -69.7% | ||
| Q3 24 | — | -149.9% | ||
| Q2 24 | — | -183.1% | ||
| Q1 24 | — | -169.3% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | 0.81× | — | ||
| Q3 25 | -4.04× | — | ||
| Q2 25 | -0.29× | — | ||
| Q1 25 | 3.12× | — | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | -2.39× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
