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Side-by-side financial comparison of FIVE STAR BANCORP (FSBC) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

INNOVATIVE INDUSTRIAL PROPERTIES INC is the larger business by last-quarter revenue ($66.7M vs $45.1M, roughly 1.5× FIVE STAR BANCORP). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 41.3%, a 6.5% gap on every dollar of revenue. Over the past eight quarters, FIVE STAR BANCORP's revenue compounded faster (21.3% CAGR vs -6.0%).

U.S. Bancorp is an American multinational banking institution headquartered in Minneapolis, Minnesota and incorporated in Delaware. It is the 5th-largest bank in the United States as of 2025. As the largest bank in the Midwestern United States, it is considered systemically important by the Financial Stability Board. It is the parent company of its primary operating entity, U.S. Bank National Association, which does business as U.S. Bank. The company provides banking, investment, mortgage, tr...

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. ...

FSBC vs IIPR — Head-to-Head

Bigger by revenue
IIPR
IIPR
1.5× larger
IIPR
$66.7M
$45.1M
FSBC
Higher net margin
IIPR
IIPR
6.5% more per $
IIPR
47.8%
41.3%
FSBC
Faster 2-yr revenue CAGR
FSBC
FSBC
Annualised
FSBC
21.3%
-6.0%
IIPR

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
FSBC
FSBC
IIPR
IIPR
Revenue
$45.1M
$66.7M
Net Profit
$18.6M
$31.8M
Gross Margin
Operating Margin
47.8%
Net Margin
41.3%
47.8%
Revenue YoY
-13.1%
Net Profit YoY
42.0%
-20.4%
EPS (diluted)
$0.87
$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
FSBC
FSBC
IIPR
IIPR
Q1 26
$45.1M
Q4 25
$43.5M
$66.7M
Q3 25
$41.3M
$64.7M
Q2 25
$38.3M
$62.9M
Q1 25
$35.3M
$71.7M
Q4 24
$35.2M
$76.7M
Q3 24
$31.8M
$76.5M
Q2 24
$30.7M
$79.8M
Net Profit
FSBC
FSBC
IIPR
IIPR
Q1 26
$18.6M
Q4 25
$17.6M
$31.8M
Q3 25
$16.3M
$29.3M
Q2 25
$14.5M
$26.0M
Q1 25
$13.1M
$31.1M
Q4 24
$13.3M
$40.0M
Q3 24
$10.9M
$40.2M
Q2 24
$10.8M
$42.0M
Operating Margin
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
52.9%
47.8%
Q3 25
53.8%
45.5%
Q2 25
52.4%
45.9%
Q1 25
52.0%
47.4%
Q4 24
55.1%
54.7%
Q3 24
48.0%
54.8%
Q2 24
49.4%
53.1%
Net Margin
FSBC
FSBC
IIPR
IIPR
Q1 26
41.3%
Q4 25
40.6%
47.8%
Q3 25
39.6%
45.3%
Q2 25
37.9%
41.4%
Q1 25
37.1%
43.3%
Q4 24
37.9%
52.2%
Q3 24
34.4%
52.6%
Q2 24
35.2%
52.6%
EPS (diluted)
FSBC
FSBC
IIPR
IIPR
Q1 26
$0.87
Q4 25
$0.83
$1.07
Q3 25
$0.77
$0.97
Q2 25
$0.68
$0.86
Q1 25
$0.62
$1.03
Q4 24
$0.61
$1.35
Q3 24
$0.52
$1.37
Q2 24
$0.51
$1.44

Balance Sheet & Financial Strength

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

Metric
FSBC
FSBC
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$644.4M
$47.6M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$458.5M
$1.8B
Total Assets
$5.0B
$2.4B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FSBC
FSBC
IIPR
IIPR
Q1 26
$644.4M
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
Total Debt
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Stockholders' Equity
FSBC
FSBC
IIPR
IIPR
Q1 26
$458.5M
Q4 25
$445.8M
$1.8B
Q3 25
$431.3M
$1.9B
Q2 25
$416.7M
$1.9B
Q1 25
$406.5M
$1.9B
Q4 24
$396.6M
$1.9B
Q3 24
$389.9M
$1.9B
Q2 24
$380.5M
$1.9B
Total Assets
FSBC
FSBC
IIPR
IIPR
Q1 26
$5.0B
Q4 25
$4.8B
$2.4B
Q3 25
$4.6B
$2.3B
Q2 25
$4.4B
$2.3B
Q1 25
$4.2B
$2.4B
Q4 24
$4.1B
$2.4B
Q3 24
$3.9B
$2.4B
Q2 24
$3.6B
$2.4B
Debt / Equity
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
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
FSBC
FSBC
IIPR
IIPR
Operating Cash FlowLast quarter
$198.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
$72.6M
$198.2M
Q3 25
$18.8M
$45.6M
Q2 25
$17.8M
$48.4M
Q1 25
$15.5M
$54.2M
Q4 24
$51.8M
$258.4M
Q3 24
$17.5M
$64.9M
Q2 24
$16.0M
$64.2M
Free Cash Flow
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
$71.4M
Q3 25
$18.6M
Q2 25
$17.5M
Q1 25
$15.4M
Q4 24
$51.2M
Q3 24
$17.3M
Q2 24
$15.8M
FCF Margin
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
164.3%
Q3 25
45.0%
Q2 25
45.8%
Q1 25
43.5%
Q4 24
145.5%
Q3 24
54.5%
Q2 24
51.6%
Capex Intensity
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
2.8%
Q3 25
0.5%
Q2 25
0.6%
Q1 25
0.3%
Q4 24
1.8%
Q3 24
0.7%
Q2 24
0.7%
Cash Conversion
FSBC
FSBC
IIPR
IIPR
Q1 26
Q4 25
4.12×
6.22×
Q3 25
1.15×
1.56×
Q2 25
1.23×
1.86×
Q1 25
1.18×
1.75×
Q4 24
3.89×
6.46×
Q3 24
1.60×
1.61×
Q2 24
1.49×
1.53×

Financial Flow Comparison

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

Revenue Breakdown by Segment

FSBC
FSBC

Net Interest Income$43.5M96%
Noninterest Income$1.6M4%

IIPR
IIPR

Segment breakdown not available.

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