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Side-by-side financial comparison of GLADSTONE COMMERCIAL CORP (GOOD) and IT TECH PACKAGING, INC. (ITP). Click either name above to swap in a different company.
GLADSTONE COMMERCIAL CORP is the larger business by last-quarter revenue ($41.9M vs $25.6M, roughly 1.6× IT TECH PACKAGING, INC.). GLADSTONE COMMERCIAL CORP runs the higher net margin — 16.6% vs -5.7%, a 22.3% gap on every dollar of revenue. On growth, IT TECH PACKAGING, INC. posted the faster year-over-year revenue change (2.1% vs -3.6%). Over the past eight quarters, IT TECH PACKAGING, INC.'s revenue compounded faster (10.5% CAGR vs 6.3%).
Gladstone Commercial Corp is a publicly traded US real estate investment trust focused on acquiring, owning, and operating diversified industrial and commercial properties. It offers long-term net lease agreements to tenants across manufacturing, logistics, healthcare and professional services sectors, mainly serving small to mid-sized business clients.
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
GOOD vs ITP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $41.9M | $25.6M |
| Net Profit | $7.0M | $-1.4M |
| Gross Margin | — | 7.9% |
| Operating Margin | 160.2% | -3.9% |
| Net Margin | 16.6% | -5.7% |
| Revenue YoY | -3.6% | 2.1% |
| Net Profit YoY | 29.5% | 26.6% |
| EPS (diluted) | — | $-0.11 |
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 | $41.9M | — | ||
| Q4 25 | $43.5M | — | ||
| Q3 25 | $40.8M | $25.6M | ||
| Q2 25 | $39.5M | $24.8M | ||
| Q1 25 | $37.5M | $10.9M | ||
| Q4 24 | $37.4M | $17.6M | ||
| Q3 24 | $39.2M | $25.1M | ||
| Q2 24 | $37.1M | $26.2M |
| Q1 26 | $7.0M | — | ||
| Q4 25 | $5.4M | — | ||
| Q3 25 | $4.1M | $-1.4M | ||
| Q2 25 | $4.6M | $-2.0M | ||
| Q1 25 | $5.1M | $-3.5M | ||
| Q4 24 | $7.2M | $-4.0M | ||
| Q3 24 | $11.7M | $-2.0M | ||
| Q2 24 | $1.6M | $-77.7K |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 12.4% |
| Q1 26 | 160.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -3.9% | ||
| Q2 25 | — | -7.1% | ||
| Q1 25 | — | -31.0% | ||
| Q4 24 | — | -21.5% | ||
| Q3 24 | — | -5.8% | ||
| Q2 24 | — | 2.1% |
| Q1 26 | 16.6% | — | ||
| Q4 25 | 12.4% | — | ||
| Q3 25 | 10.1% | -5.7% | ||
| Q2 25 | 11.7% | -7.9% | ||
| Q1 25 | 13.7% | -32.2% | ||
| Q4 24 | 19.2% | -22.9% | ||
| Q3 24 | 29.8% | -7.9% | ||
| Q2 24 | 4.3% | -0.3% |
| Q1 26 | — | — | ||
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.02 | $-0.11 | ||
| Q2 25 | $0.03 | $-0.16 | ||
| Q1 25 | $0.04 | $-0.35 | ||
| Q4 24 | $0.10 | $-0.40 | ||
| Q3 24 | $0.20 | $-0.20 | ||
| Q2 24 | $-0.04 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $4.7M |
| Stockholders' EquityBook value | — | $152.0M |
| Total Assets | $1.2B | $175.7M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $10.8M | — | ||
| Q3 25 | $18.4M | — | ||
| Q2 25 | $11.7M | — | ||
| Q1 25 | $10.4M | — | ||
| Q4 24 | $11.0M | — | ||
| Q3 24 | $10.5M | — | ||
| Q2 24 | $10.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $843.5M | — | ||
| Q3 25 | $843.3M | $4.7M | ||
| Q2 25 | $794.4M | $4.7M | ||
| Q1 25 | $740.7M | $4.7M | ||
| Q4 24 | $693.4M | $4.7M | ||
| Q3 24 | $692.6M | $8.9M | ||
| Q2 24 | $722.5M | $11.3M |
| Q1 26 | — | — | ||
| Q4 25 | $171.8M | — | ||
| Q3 25 | $184.8M | $152.0M | ||
| Q2 25 | $177.2M | $152.3M | ||
| Q1 25 | $183.2M | $152.8M | ||
| Q4 24 | $171.2M | $156.1M | ||
| Q3 24 | $168.9M | $164.3M | ||
| Q2 24 | $145.7M | $163.5M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $175.7M | ||
| Q2 25 | $1.2B | $175.2M | ||
| Q1 25 | $1.2B | $175.2M | ||
| Q4 24 | $1.1B | $177.5M | ||
| Q3 24 | $1.1B | $190.0M | ||
| Q2 24 | $1.1B | $191.4M |
| Q1 26 | — | — | ||
| Q4 25 | 4.91× | — | ||
| Q3 25 | 4.56× | 0.03× | ||
| Q2 25 | 4.48× | 0.03× | ||
| Q1 25 | 4.04× | 0.03× | ||
| Q4 24 | 4.05× | 0.03× | ||
| Q3 24 | 4.10× | 0.05× | ||
| Q2 24 | 4.96× | 0.07× |
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 | — | $1.5M |
| Free Cash FlowOCF − Capex | — | $1.5M |
| FCF MarginFCF / Revenue | — | 5.9% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $88.2M | — | ||
| Q3 25 | $18.9M | $1.5M | ||
| Q2 25 | $35.8M | $1.4M | ||
| Q1 25 | $17.7M | $-2.5M | ||
| Q4 24 | $57.0M | $3.5M | ||
| Q3 24 | $5.5M | $1.5M | ||
| Q2 24 | $13.6M | $721.9K |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $-2.5M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | — | $668.3K |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 16.38× | — | ||
| Q3 25 | 4.57× | — | ||
| Q2 25 | 7.74× | — | ||
| Q1 25 | 3.44× | — | ||
| Q4 24 | 7.93× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 8.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
