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Side-by-side financial comparison of JFrog Ltd (FROG) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $97.9M, roughly 1.5× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -10.5%, a 38.9% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 6.5%). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs 2.5%).
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
FROG vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $97.9M |
| Net Profit | $-15.2M | $27.9M |
| Gross Margin | 77.9% | 98.6% |
| Operating Margin | -14.7% | 27.4% |
| Net Margin | -10.5% | 28.5% |
| Revenue YoY | 25.2% | 6.5% |
| Net Profit YoY | 34.4% | 7.1% |
| EPS (diluted) | $-0.13 | $0.38 |
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 | $145.3M | $97.9M | ||
| Q3 25 | $136.9M | $96.2M | ||
| Q2 25 | $127.2M | $93.8M | ||
| Q1 25 | $122.4M | $97.7M | ||
| Q4 24 | $116.1M | $91.9M | ||
| Q3 24 | $109.1M | $90.7M | ||
| Q2 24 | $103.0M | $89.9M | ||
| Q1 24 | $100.3M | $93.2M |
| Q4 25 | $-15.2M | $27.9M | ||
| Q3 25 | $-16.4M | $29.3M | ||
| Q2 25 | $-21.7M | $27.9M | ||
| Q1 25 | $-18.5M | $29.4M | ||
| Q4 24 | $-23.2M | $26.0M | ||
| Q3 24 | $-22.9M | $19.3M | ||
| Q2 24 | $-14.3M | $29.7M | ||
| Q1 24 | $-8.8M | $30.7M |
| Q4 25 | 77.9% | 98.6% | ||
| Q3 25 | 77.4% | 98.5% | ||
| Q2 25 | 76.3% | 99.1% | ||
| Q1 25 | 75.3% | 98.8% | ||
| Q4 24 | 75.4% | 98.8% | ||
| Q3 24 | 75.0% | 98.8% | ||
| Q2 24 | 78.8% | 98.8% | ||
| Q1 24 | 79.5% | 98.8% |
| Q4 25 | -14.7% | 27.4% | ||
| Q3 25 | -15.8% | 25.9% | ||
| Q2 25 | -20.4% | 25.5% | ||
| Q1 25 | -18.8% | 25.9% | ||
| Q4 24 | -21.9% | 24.6% | ||
| Q3 24 | -27.4% | 17.5% | ||
| Q2 24 | -18.6% | 26.7% | ||
| Q1 24 | -16.6% | 26.4% |
| Q4 25 | -10.5% | 28.5% | ||
| Q3 25 | -12.0% | 30.5% | ||
| Q2 25 | -17.0% | 29.8% | ||
| Q1 25 | -15.1% | 30.1% | ||
| Q4 24 | -20.0% | 28.3% | ||
| Q3 24 | -21.0% | 21.3% | ||
| Q2 24 | -13.9% | 33.0% | ||
| Q1 24 | -8.8% | 33.0% |
| Q4 25 | $-0.13 | $0.38 | ||
| Q3 25 | $-0.14 | $0.41 | ||
| Q2 25 | $-0.19 | $0.39 | ||
| Q1 25 | $-0.16 | $0.41 | ||
| Q4 24 | $-0.21 | $0.36 | ||
| Q3 24 | $-0.21 | $0.27 | ||
| Q2 24 | $-0.13 | $0.42 | ||
| Q1 24 | $-0.08 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $704.4M | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $887.4M | $2.4B |
| Total Assets | $1.3B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $21.7M | ||
| Q3 25 | $651.1M | $12.1M | ||
| Q2 25 | $611.7M | $13.9M | ||
| Q1 25 | $563.5M | $17.3M | ||
| Q4 24 | $522.0M | $8.3M | ||
| Q3 24 | $467.8M | $15.6M | ||
| Q2 24 | $591.3M | $13.4M | ||
| Q1 24 | $579.6M | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $887.4M | $2.4B | ||
| Q3 25 | $859.4M | $2.4B | ||
| Q2 25 | $826.5M | $2.4B | ||
| Q1 25 | $800.0M | $2.4B | ||
| Q4 24 | $773.5M | $2.3B | ||
| Q3 24 | $756.2M | $2.3B | ||
| Q2 24 | $721.4M | $2.3B | ||
| Q1 24 | $707.8M | $2.3B |
| Q4 25 | $1.3B | $7.2B | ||
| Q3 25 | $1.3B | $7.1B | ||
| Q2 25 | $1.2B | $7.1B | ||
| Q1 25 | $1.2B | $6.9B | ||
| Q4 24 | $1.1B | $6.9B | ||
| Q3 24 | $1.1B | $6.8B | ||
| Q2 24 | $1.0B | $6.8B | ||
| Q1 24 | $997.1M | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $50.7M | $47.8M |
| Free Cash FlowOCF − Capex | $49.9M | — |
| FCF MarginFCF / Revenue | 34.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $47.8M | ||
| Q3 25 | $30.2M | $-1.4M | ||
| Q2 25 | $36.1M | $28.0M | ||
| Q1 25 | $28.8M | $8.9M | ||
| Q4 24 | $49.1M | $37.9M | ||
| Q3 24 | $27.6M | $8.3M | ||
| Q2 24 | $16.7M | $24.8M | ||
| Q1 24 | $17.5M | $-3.1M |
| Q4 25 | $49.9M | — | ||
| Q3 25 | $28.8M | — | ||
| Q2 25 | $35.5M | — | ||
| Q1 25 | $28.1M | — | ||
| Q4 24 | $48.5M | — | ||
| Q3 24 | $26.7M | — | ||
| Q2 24 | $16.0M | — | ||
| Q1 24 | $16.6M | — |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 21.0% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 23.0% | — | ||
| Q4 24 | 41.8% | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | 16.6% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FROG
Segment breakdown not available.
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
