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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
Federal Realty Investment Trust is the larger business by last-quarter revenue ($336.0M vs $246.2M, roughly 1.4× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 38.6%, a 1.0% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 8.7%). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs 6.5%).
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
FRT vs HCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $246.2M |
| Net Profit | $129.7M | $97.7M |
| Gross Margin | — | — |
| Operating Margin | 53.8% | 58.5% |
| Net Margin | 38.6% | 39.7% |
| Revenue YoY | 8.7% | 52.1% |
| Net Profit YoY | 103.5% | 3679.2% |
| EPS (diluted) | $1.49 | $7.29 |
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 | $336.0M | — | ||
| Q4 25 | $336.0M | $246.2M | ||
| Q3 25 | $322.3M | $216.3M | ||
| Q2 25 | $311.5M | $221.9M | ||
| Q1 25 | $309.2M | $216.4M | ||
| Q4 24 | $311.4M | $161.9M | ||
| Q3 24 | $303.6M | $175.3M | ||
| Q2 24 | $296.1M | $206.2M |
| Q1 26 | $129.7M | — | ||
| Q4 25 | $129.7M | $97.7M | ||
| Q3 25 | $61.6M | $65.5M | ||
| Q2 25 | $155.9M | $66.2M | ||
| Q1 25 | $63.8M | $69.7M | ||
| Q4 24 | $65.5M | $2.6M | ||
| Q3 24 | $61.0M | $5.7M | ||
| Q2 24 | $112.0M | $54.1M |
| Q1 26 | 53.8% | — | ||
| Q4 25 | 53.8% | 58.5% | ||
| Q3 25 | 34.3% | 41.9% | ||
| Q2 25 | 65.1% | 42.5% | ||
| Q1 25 | 35.0% | 46.4% | ||
| Q4 24 | 35.1% | 3.6% | ||
| Q3 24 | 34.9% | 8.0% | ||
| Q2 24 | 53.0% | 36.9% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | 38.6% | 39.7% | ||
| Q3 25 | 19.1% | 30.3% | ||
| Q2 25 | 50.0% | 29.8% | ||
| Q1 25 | 20.6% | 32.2% | ||
| Q4 24 | 21.0% | 1.6% | ||
| Q3 24 | 20.1% | 3.2% | ||
| Q2 24 | 37.8% | 26.2% |
| Q1 26 | $1.49 | — | ||
| Q4 25 | $1.49 | $7.29 | ||
| Q3 25 | $0.69 | $4.90 | ||
| Q2 25 | $1.78 | $5.18 | ||
| Q1 25 | $0.72 | $5.35 | ||
| Q4 24 | $0.74 | $0.32 | ||
| Q3 24 | $0.70 | $0.52 | ||
| Q2 24 | $1.32 | $4.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $107.4M | $1.2B |
| Total DebtLower is stronger | $5.0B | — |
| Stockholders' EquityBook value | $3.2B | $1.0B |
| Total Assets | $9.1B | $2.5B |
| Debt / EquityLower = less leverage | 1.53× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | — | ||
| Q4 25 | $107.4M | $1.2B | ||
| Q3 25 | $111.3M | $987.9M | ||
| Q2 25 | $177.0M | $947.2M | ||
| Q1 25 | $109.2M | $754.5M | ||
| Q4 24 | $123.4M | $532.5M | ||
| Q3 24 | $97.0M | $518.8M | ||
| Q2 24 | $103.2M | $445.8M |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.2B | $821.8M | ||
| Q2 25 | $3.2B | $758.6M | ||
| Q1 25 | $3.2B | $522.7M | ||
| Q4 24 | $3.2B | $453.3M | ||
| Q3 24 | $3.1B | $455.3M | ||
| Q2 24 | $3.0B | $447.3M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.1B | $2.5B | ||
| Q3 25 | $8.9B | $2.3B | ||
| Q2 25 | $8.6B | $2.4B | ||
| Q1 25 | $8.6B | $2.3B | ||
| Q4 24 | $8.5B | $2.2B | ||
| Q3 24 | $8.5B | $2.0B | ||
| Q2 24 | $8.4B | $1.9B |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.42× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $444.4M |
| Free Cash FlowOCF − Capex | — | $440.8M |
| FCF MarginFCF / Revenue | — | 179.0% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | — | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $622.4M | $444.4M | ||
| Q3 25 | $147.8M | $26.7M | ||
| Q2 25 | $150.7M | $145.0M | ||
| Q1 25 | $179.0M | $162.0M | ||
| Q4 24 | $574.6M | $331.8M | ||
| Q3 24 | $144.1M | $104.1M | ||
| Q2 24 | $169.7M | $-29.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $440.8M | ||
| Q3 25 | — | $25.9M | ||
| Q2 25 | — | $144.5M | ||
| Q1 25 | — | $160.3M | ||
| Q4 24 | — | $327.8M | ||
| Q3 24 | — | $103.2M | ||
| Q2 24 | — | $-30.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 179.0% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 65.1% | ||
| Q1 25 | — | 74.1% | ||
| Q4 24 | — | 202.5% | ||
| Q3 24 | — | 58.9% | ||
| Q2 24 | — | -14.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.80× | 4.55× | ||
| Q3 25 | 2.40× | 0.41× | ||
| Q2 25 | 0.97× | 2.19× | ||
| Q1 25 | 2.81× | 2.32× | ||
| Q4 24 | 8.77× | 128.41× | ||
| Q3 24 | 2.36× | 18.33× | ||
| Q2 24 | 1.52× | -0.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRT
Segment breakdown not available.
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
