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Side-by-side financial comparison of GLADSTONE COMMERCIAL CORP (GOOD) and MARINE PRODUCTS CORP (MPX). Click either name above to swap in a different company.
MARINE PRODUCTS CORP is the larger business by last-quarter revenue ($64.6M vs $43.5M, roughly 1.5× GLADSTONE COMMERCIAL CORP). GLADSTONE COMMERCIAL CORP runs the higher net margin — 12.4% vs 3.7%, a 8.7% gap on every dollar of revenue. On growth, MARINE PRODUCTS CORP posted the faster year-over-year revenue change (35.0% vs 16.3%). Over the past eight quarters, GLADSTONE COMMERCIAL CORP's revenue compounded faster (10.3% CAGR vs -3.5%).
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.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
GOOD vs MPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $64.6M |
| Net Profit | $5.4M | $2.4M |
| Gross Margin | — | 19.6% |
| Operating Margin | — | 5.8% |
| Net Margin | 12.4% | 3.7% |
| Revenue YoY | 16.3% | 35.0% |
| Net Profit YoY | -25.1% | -44.6% |
| EPS (diluted) | $0.05 | $0.07 |
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.
| Q4 25 | $43.5M | $64.6M | ||
| Q3 25 | $40.8M | $53.1M | ||
| Q2 25 | $39.5M | $67.7M | ||
| Q1 25 | $37.5M | $59.0M | ||
| Q4 24 | $37.4M | $47.8M | ||
| Q3 24 | $39.2M | $49.9M | ||
| Q2 24 | $37.1M | $69.5M | ||
| Q1 24 | $35.7M | $69.3M |
| Q4 25 | $5.4M | $2.4M | ||
| Q3 25 | $4.1M | $2.6M | ||
| Q2 25 | $4.6M | $4.2M | ||
| Q1 25 | $5.1M | $2.2M | ||
| Q4 24 | $7.2M | $4.3M | ||
| Q3 24 | $11.7M | $3.4M | ||
| Q2 24 | $1.6M | $5.6M | ||
| Q1 24 | $3.5M | $4.6M |
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.2% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 18.9% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | 12.4% | 3.7% | ||
| Q3 25 | 10.1% | 5.0% | ||
| Q2 25 | 11.7% | 6.1% | ||
| Q1 25 | 13.7% | 3.7% | ||
| Q4 24 | 19.2% | 8.9% | ||
| Q3 24 | 29.8% | 6.8% | ||
| Q2 24 | 4.3% | 8.0% | ||
| Q1 24 | 9.9% | 6.6% |
| Q4 25 | $0.05 | $0.07 | ||
| Q3 25 | $0.02 | $0.07 | ||
| Q2 25 | $0.03 | $0.12 | ||
| Q1 25 | $0.04 | $0.06 | ||
| Q4 24 | $0.10 | $0.13 | ||
| Q3 24 | $0.20 | $0.10 | ||
| Q2 24 | $-0.04 | $0.14 | ||
| Q1 24 | $0.01 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.8M | — |
| Total DebtLower is stronger | $843.5M | — |
| Stockholders' EquityBook value | $171.8M | $125.0M |
| Total Assets | $1.2B | $147.2M |
| Debt / EquityLower = less leverage | 4.91× | — |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $10.5M | — |
| Q4 25 | $843.5M | — | ||
| Q3 25 | $843.3M | — | ||
| Q2 25 | $794.4M | — | ||
| Q1 25 | $740.7M | — | ||
| Q4 24 | $693.4M | — | ||
| Q3 24 | $692.6M | — | ||
| Q2 24 | $722.5M | — | ||
| Q1 24 | $719.4M | — |
| Q4 25 | $171.8M | $125.0M | ||
| Q3 25 | $184.8M | $126.3M | ||
| Q2 25 | $177.2M | $127.2M | ||
| Q1 25 | $183.2M | $126.4M | ||
| Q4 24 | $171.2M | $129.0M | ||
| Q3 24 | $168.9M | $128.8M | ||
| Q2 24 | $145.7M | $129.3M | ||
| Q1 24 | $147.3M | $151.4M |
| Q4 25 | $1.2B | $147.2M | ||
| Q3 25 | $1.3B | $179.5M | ||
| Q2 25 | $1.2B | $173.2M | ||
| Q1 25 | $1.2B | $182.9M | ||
| Q4 24 | $1.1B | $171.2M | ||
| Q3 24 | $1.1B | $176.3M | ||
| Q2 24 | $1.1B | $175.7M | ||
| Q1 24 | $1.1B | $204.0M |
| Q4 25 | 4.91× | — | ||
| Q3 25 | 4.56× | — | ||
| Q2 25 | 4.48× | — | ||
| Q1 25 | 4.04× | — | ||
| Q4 24 | 4.05× | — | ||
| Q3 24 | 4.10× | — | ||
| Q2 24 | 4.96× | — | ||
| Q1 24 | 4.88× | — |
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 | $88.2M | $4.7M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 6.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | 16.38× | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $88.2M | $4.7M | ||
| Q3 25 | $18.9M | $2.6M | ||
| Q2 25 | $35.8M | $-1.6M | ||
| Q1 25 | $17.7M | $10.8M | ||
| Q4 24 | $57.0M | $4.6M | ||
| Q3 24 | $5.5M | $5.1M | ||
| Q2 24 | $13.6M | $3.8M | ||
| Q1 24 | $15.0M | $15.9M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.1M | ||
| Q2 25 | — | $-2.0M | ||
| Q1 25 | — | $10.7M | ||
| Q4 24 | — | $3.6M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $3.0M | ||
| Q1 24 | — | $15.0M |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 4.0% | ||
| Q2 25 | — | -3.0% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | — | 4.4% | ||
| Q1 24 | — | 21.7% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | 16.38× | 2.00× | ||
| Q3 25 | 4.57× | 0.97× | ||
| Q2 25 | 7.74× | -0.39× | ||
| Q1 25 | 3.44× | 4.88× | ||
| Q4 24 | 7.93× | 1.09× | ||
| Q3 24 | 0.47× | 1.51× | ||
| Q2 24 | 8.44× | 0.68× | ||
| Q1 24 | 4.26× | 3.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOOD
Segment breakdown not available.
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
