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Side-by-side financial comparison of Fastly, Inc. (FSLY) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $113.9M, roughly 1.5× Industrial Logistics Properties Trust). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -9.0%, a 7.4% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $12.2M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 0.7%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
FSLY vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $113.9M |
| Net Profit | $-15.5M | $-1.8M |
| Gross Margin | 61.4% | — |
| Operating Margin | -8.7% | -22.1% |
| Net Margin | -9.0% | -1.6% |
| Revenue YoY | 22.8% | 3.1% |
| Net Profit YoY | 52.9% | 92.6% |
| EPS (diluted) | $-0.10 | $-0.02 |
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 | $172.6M | $113.9M | ||
| Q3 25 | $158.2M | $110.9M | ||
| Q2 25 | $148.7M | $112.1M | ||
| Q1 25 | $144.5M | $111.9M | ||
| Q4 24 | $140.6M | $110.5M | ||
| Q3 24 | $137.2M | $108.9M | ||
| Q2 24 | $132.4M | $110.6M | ||
| Q1 24 | $133.5M | $112.2M |
| Q4 25 | $-15.5M | $-1.8M | ||
| Q3 25 | $-29.5M | $-21.6M | ||
| Q2 25 | $-37.5M | $-21.3M | ||
| Q1 25 | $-39.1M | $-21.5M | ||
| Q4 24 | $-32.9M | $-24.1M | ||
| Q3 24 | $-38.0M | $-25.0M | ||
| Q2 24 | $-43.7M | $-23.2M | ||
| Q1 24 | $-43.4M | $-23.4M |
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 54.5% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.4% | — | ||
| Q3 24 | 54.5% | — | ||
| Q2 24 | 55.1% | — | ||
| Q1 24 | 54.8% | — |
| Q4 25 | -8.7% | -22.1% | ||
| Q3 25 | -18.2% | -29.4% | ||
| Q2 25 | -24.8% | -30.8% | ||
| Q1 25 | -26.4% | -26.9% | ||
| Q4 24 | -24.4% | -31.1% | ||
| Q3 24 | -29.6% | -33.5% | ||
| Q2 24 | -35.3% | -32.4% | ||
| Q1 24 | -34.6% | -31.7% |
| Q4 25 | -9.0% | -1.6% | ||
| Q3 25 | -18.6% | -19.4% | ||
| Q2 25 | -25.2% | -19.0% | ||
| Q1 25 | -27.1% | -19.2% | ||
| Q4 24 | -23.4% | -21.8% | ||
| Q3 24 | -27.7% | -22.9% | ||
| Q2 24 | -33.0% | -20.9% | ||
| Q1 24 | -32.5% | -20.9% |
| Q4 25 | $-0.10 | $-0.02 | ||
| Q3 25 | $-0.20 | $-0.33 | ||
| Q2 25 | $-0.26 | $-0.32 | ||
| Q1 25 | $-0.27 | $-0.33 | ||
| Q4 24 | $-0.23 | $-0.37 | ||
| Q3 24 | $-0.27 | $-0.38 | ||
| Q2 24 | $-0.32 | $-0.35 | ||
| Q1 24 | $-0.32 | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $361.8M | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $929.6M | $489.7M |
| Total Assets | $1.5B | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | $94.8M | ||
| Q3 25 | $342.9M | $83.2M | ||
| Q2 25 | $321.2M | $58.6M | ||
| Q1 25 | $307.3M | $108.0M | ||
| Q4 24 | $295.9M | $131.7M | ||
| Q3 24 | $308.2M | $153.9M | ||
| Q2 24 | $311.8M | $146.2M | ||
| Q1 24 | $329.5M | $128.4M |
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $929.6M | $489.7M | ||
| Q3 25 | $937.0M | $494.1M | ||
| Q2 25 | $942.6M | $519.1M | ||
| Q1 25 | $957.0M | $539.5M | ||
| Q4 24 | $965.3M | $562.0M | ||
| Q3 24 | $969.5M | $585.9M | ||
| Q2 24 | $981.2M | $618.3M | ||
| Q1 24 | $991.8M | $643.2M |
| Q4 25 | $1.5B | $5.2B | ||
| Q3 25 | $1.5B | $5.2B | ||
| Q2 25 | $1.5B | $5.2B | ||
| Q1 25 | $1.4B | $5.4B | ||
| Q4 24 | $1.5B | $5.4B | ||
| Q3 24 | $1.5B | $5.5B | ||
| Q2 24 | $1.5B | $5.5B | ||
| Q1 24 | $1.5B | $5.5B |
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $22.4M | $60.7M |
| Free Cash FlowOCF − Capex | $12.2M | $42.0M |
| FCF MarginFCF / Revenue | 7.1% | 36.9% |
| Capex IntensityCapex / Revenue | 5.9% | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $60.7M | ||
| Q3 25 | $28.9M | $22.7M | ||
| Q2 25 | $25.8M | $18.4M | ||
| Q1 25 | $17.3M | $11.4M | ||
| Q4 24 | $5.2M | $2.0M | ||
| Q3 24 | $5.0M | $-3.4M | ||
| Q2 24 | $-4.9M | $10.8M | ||
| Q1 24 | $11.1M | $8.0M |
| Q4 25 | $12.2M | $42.0M | ||
| Q3 25 | $22.9M | $17.6M | ||
| Q2 25 | $15.9M | $15.2M | ||
| Q1 25 | $14.7M | $5.0M | ||
| Q4 24 | $251.0K | $-3.7M | ||
| Q3 24 | $3.0M | $-5.9M | ||
| Q2 24 | $-6.7M | $9.4M | ||
| Q1 24 | $9.5M | $5.9M |
| Q4 25 | 7.1% | 36.9% | ||
| Q3 25 | 14.5% | 15.9% | ||
| Q2 25 | 10.7% | 13.5% | ||
| Q1 25 | 10.2% | 4.5% | ||
| Q4 24 | 0.2% | -3.4% | ||
| Q3 24 | 2.2% | -5.5% | ||
| Q2 24 | -5.1% | 8.5% | ||
| Q1 24 | 7.1% | 5.2% |
| Q4 25 | 5.9% | 16.4% | ||
| Q3 25 | 3.8% | 4.6% | ||
| Q2 25 | 6.6% | 2.9% | ||
| Q1 25 | 1.8% | 5.7% | ||
| Q4 24 | 3.5% | 5.2% | ||
| Q3 24 | 1.5% | 2.3% | ||
| Q2 24 | 1.3% | 1.3% | ||
| Q1 24 | 1.2% | 1.9% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
ILPT
Segment breakdown not available.
