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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $72.0M, roughly 1.6× Globalstar, Inc.). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -16.1%, a 14.6% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 3.1%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 0.7%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
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.
GSAT vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $113.9M |
| Net Profit | $-11.6M | $-1.8M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | -22.1% |
| Net Margin | -16.1% | -1.6% |
| Revenue YoY | 17.6% | 3.1% |
| Net Profit YoY | 76.9% | 92.6% |
| EPS (diluted) | $-0.11 | $-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 | $72.0M | $113.9M | ||
| Q3 25 | $73.8M | $110.9M | ||
| Q2 25 | $67.1M | $112.1M | ||
| Q1 25 | $60.0M | $111.9M | ||
| Q4 24 | $61.2M | $110.5M | ||
| Q3 24 | $72.3M | $108.9M | ||
| Q2 24 | $60.4M | $110.6M | ||
| Q1 24 | $56.5M | $112.2M |
| Q4 25 | $-11.6M | $-1.8M | ||
| Q3 25 | $1.1M | $-21.6M | ||
| Q2 25 | $19.2M | $-21.3M | ||
| Q1 25 | $-17.3M | $-21.5M | ||
| Q4 24 | $-50.2M | $-24.1M | ||
| Q3 24 | $9.9M | $-25.0M | ||
| Q2 24 | $-9.7M | $-23.2M | ||
| Q1 24 | $-13.2M | $-23.4M |
| Q4 25 | -0.5% | -22.1% | ||
| Q3 25 | 13.8% | -29.4% | ||
| Q2 25 | 9.2% | -30.8% | ||
| Q1 25 | -14.2% | -26.9% | ||
| Q4 24 | -6.9% | -31.1% | ||
| Q3 24 | 13.0% | -33.5% | ||
| Q2 24 | -2.4% | -32.4% | ||
| Q1 24 | -8.3% | -31.7% |
| Q4 25 | -16.1% | -1.6% | ||
| Q3 25 | 1.5% | -19.4% | ||
| Q2 25 | 28.6% | -19.0% | ||
| Q1 25 | -28.9% | -19.2% | ||
| Q4 24 | -82.1% | -21.8% | ||
| Q3 24 | 13.7% | -22.9% | ||
| Q2 24 | -16.0% | -20.9% | ||
| Q1 24 | -23.4% | -20.9% |
| Q4 25 | $-0.11 | $-0.02 | ||
| Q3 25 | $-0.01 | $-0.33 | ||
| Q2 25 | $0.13 | $-0.32 | ||
| Q1 25 | $-0.16 | $-0.33 | ||
| Q4 24 | $-0.57 | $-0.37 | ||
| Q3 24 | $0.00 | $-0.38 | ||
| Q2 24 | $-0.01 | $-0.35 | ||
| Q1 24 | $-0.01 | $-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 | $447.5M | $94.8M |
| Total DebtLower is stronger | $483.8M | $4.2B |
| Stockholders' EquityBook value | $355.7M | $489.7M |
| Total Assets | $2.3B | $5.2B |
| Debt / EquityLower = less leverage | 1.36× | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $94.8M | ||
| Q3 25 | $346.3M | $83.2M | ||
| Q2 25 | $308.2M | $58.6M | ||
| Q1 25 | $241.4M | $108.0M | ||
| Q4 24 | $391.2M | $131.7M | ||
| Q3 24 | $51.9M | $153.9M | ||
| Q2 24 | $64.3M | $146.2M | ||
| Q1 24 | $59.3M | $128.4M |
| Q4 25 | $483.8M | $4.2B | ||
| Q3 25 | $508.6M | $4.2B | ||
| Q2 25 | $491.5M | $4.2B | ||
| Q1 25 | $502.7M | $4.3B | ||
| Q4 24 | $511.4M | $4.3B | ||
| Q3 24 | $394.4M | $4.3B | ||
| Q2 24 | $393.1M | $4.3B | ||
| Q1 24 | $398.7M | $4.3B |
| Q4 25 | $355.7M | $489.7M | ||
| Q3 25 | $364.8M | $494.1M | ||
| Q2 25 | $360.9M | $519.1M | ||
| Q1 25 | $344.3M | $539.5M | ||
| Q4 24 | $358.9M | $562.0M | ||
| Q3 24 | $394.1M | $585.9M | ||
| Q2 24 | $383.0M | $618.3M | ||
| Q1 24 | $377.1M | $643.2M |
| Q4 25 | $2.3B | $5.2B | ||
| Q3 25 | $2.2B | $5.2B | ||
| Q2 25 | $1.9B | $5.2B | ||
| Q1 25 | $1.7B | $5.4B | ||
| Q4 24 | $1.7B | $5.4B | ||
| Q3 24 | $917.6M | $5.5B | ||
| Q2 24 | $926.2M | $5.5B | ||
| Q1 24 | $917.0M | $5.5B |
| Q4 25 | 1.36× | 8.56× | ||
| Q3 25 | 1.39× | 8.49× | ||
| Q2 25 | 1.36× | 8.09× | ||
| Q1 25 | 1.46× | 7.96× | ||
| Q4 24 | 1.43× | 7.65× | ||
| Q3 24 | 1.00× | 7.35× | ||
| Q2 24 | 1.03× | 6.96× | ||
| Q1 24 | 1.06× | 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 | $175.9M | $60.7M |
| Free Cash FlowOCF − Capex | — | $42.0M |
| FCF MarginFCF / Revenue | — | 36.9% |
| Capex IntensityCapex / Revenue | — | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $60.7M | ||
| Q3 25 | $236.0M | $22.7M | ||
| Q2 25 | $157.9M | $18.4M | ||
| Q1 25 | $51.9M | $11.4M | ||
| Q4 24 | $340.7M | $2.0M | ||
| Q3 24 | $32.0M | $-3.4M | ||
| Q2 24 | $36.7M | $10.8M | ||
| Q1 24 | $29.8M | $8.0M |
| Q4 25 | — | $42.0M | ||
| Q3 25 | — | $17.6M | ||
| Q2 25 | — | $15.2M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $-3.7M | ||
| Q3 24 | — | $-5.9M | ||
| Q2 24 | — | $9.4M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | 36.9% | ||
| Q3 25 | — | 15.9% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | -3.4% | ||
| Q3 24 | — | -5.5% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | — | 16.4% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.23× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
ILPT
Segment breakdown not available.
