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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($677.3M vs $336.0M, roughly 2.0× Federal Realty Investment Trust). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 14.7%, a 23.9% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (21.4% vs 8.7%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
FRT vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $677.3M |
| Net Profit | $129.7M | $99.6M |
| Gross Margin | — | 48.1% |
| Operating Margin | 53.8% | 19.6% |
| Net Margin | 38.6% | 14.7% |
| Revenue YoY | 8.7% | 21.4% |
| Net Profit YoY | 103.5% | 34.6% |
| EPS (diluted) | $1.49 | $2.97 |
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 | $677.3M | ||
| Q4 25 | $336.0M | $625.1M | ||
| Q3 25 | $322.3M | $611.7M | ||
| Q2 25 | $311.5M | $643.7M | ||
| Q1 25 | $309.2M | $558.0M | ||
| Q4 24 | $311.4M | $540.4M | ||
| Q3 24 | $303.6M | $543.6M | ||
| Q2 24 | $296.1M | $597.3M |
| Q1 26 | $129.7M | $99.6M | ||
| Q4 25 | $129.7M | $83.7M | ||
| Q3 25 | $61.6M | $82.2M | ||
| Q2 25 | $155.9M | $100.9M | ||
| Q1 25 | $63.8M | $74.0M | ||
| Q4 24 | $65.5M | $67.5M | ||
| Q3 24 | $61.0M | $69.1M | ||
| Q2 24 | $112.0M | $82.0M |
| Q1 26 | — | 48.1% | ||
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% |
| Q1 26 | 53.8% | 19.6% | ||
| Q4 25 | 53.8% | 18.2% | ||
| Q3 25 | 34.3% | 18.2% | ||
| Q2 25 | 65.1% | 21.0% | ||
| Q1 25 | 35.0% | 15.7% | ||
| Q4 24 | 35.1% | 16.5% | ||
| Q3 24 | 34.9% | 17.1% | ||
| Q2 24 | 53.0% | 18.7% |
| Q1 26 | 38.6% | 14.7% | ||
| Q4 25 | 38.6% | 13.4% | ||
| Q3 25 | 19.1% | 13.4% | ||
| Q2 25 | 50.0% | 15.7% | ||
| Q1 25 | 20.6% | 13.3% | ||
| Q4 24 | 21.0% | 12.5% | ||
| Q3 24 | 20.1% | 12.7% | ||
| Q2 24 | 37.8% | 13.7% |
| Q1 26 | $1.49 | $2.97 | ||
| Q4 25 | $1.49 | $2.50 | ||
| Q3 25 | $0.69 | $2.45 | ||
| Q2 25 | $1.78 | $3.01 | ||
| Q1 25 | $0.72 | $2.21 | ||
| Q4 24 | $0.74 | $2.02 | ||
| Q3 24 | $0.70 | $2.06 | ||
| Q2 24 | $1.32 | $2.44 |
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 | $374.7M |
| Total DebtLower is stronger | $5.0B | $197.8M |
| Stockholders' EquityBook value | $3.2B | $2.1B |
| Total Assets | $9.1B | $2.9B |
| Debt / EquityLower = less leverage | 1.53× | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | $374.7M | ||
| Q4 25 | $107.4M | $405.5M | ||
| Q3 25 | $111.3M | $457.7M | ||
| Q2 25 | $177.0M | $369.3M | ||
| Q1 25 | $109.2M | $336.8M | ||
| Q4 24 | $123.4M | $386.9M | ||
| Q3 24 | $97.0M | $303.9M | ||
| Q2 24 | $103.2M | $279.4M |
| Q1 26 | $5.0B | $197.8M | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.2B | $2.1B | ||
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.2B | $2.0B | ||
| Q2 25 | $3.2B | $1.9B | ||
| Q1 25 | $3.2B | $1.8B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.1B | $1.7B | ||
| Q2 24 | $3.0B | $1.6B |
| Q1 26 | $9.1B | $2.9B | ||
| Q4 25 | $9.1B | $2.9B | ||
| Q3 25 | $8.9B | $2.7B | ||
| Q2 25 | $8.6B | $2.6B | ||
| Q1 25 | $8.6B | $2.5B | ||
| Q4 24 | $8.5B | $2.4B | ||
| Q3 24 | $8.5B | $2.4B | ||
| Q2 24 | $8.4B | $2.4B |
| Q1 26 | 1.53× | 0.09× | ||
| 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 | — | $17.9M |
| Free Cash FlowOCF − Capex | — | $6.6M |
| FCF MarginFCF / Revenue | — | 1.0% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.18× |
| TTM Free Cash FlowTrailing 4 quarters | — | $317.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.9M | ||
| Q4 25 | $622.4M | $154.7M | ||
| Q3 25 | $147.8M | $122.4M | ||
| Q2 25 | $150.7M | $69.7M | ||
| Q1 25 | $179.0M | $55.2M | ||
| Q4 24 | $574.6M | $139.5M | ||
| Q3 24 | $144.1M | $90.7M | ||
| Q2 24 | $169.7M | $85.3M |
| Q1 26 | — | $6.6M | ||
| Q4 25 | — | $140.3M | ||
| Q3 25 | — | $110.9M | ||
| Q2 25 | — | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M |
| Q1 26 | — | 1.0% | ||
| Q4 25 | — | 22.4% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% |
| Q1 26 | — | 0.18× | ||
| Q4 25 | 4.80× | 1.85× | ||
| Q3 25 | 2.40× | 1.49× | ||
| Q2 25 | 0.97× | 0.69× | ||
| Q1 25 | 2.81× | 0.75× | ||
| Q4 24 | 8.77× | 2.07× | ||
| Q3 24 | 2.36× | 1.31× | ||
| Q2 24 | 1.52× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRT
Segment breakdown not available.
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
