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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
Terreno Realty Corp is the larger business by last-quarter revenue ($137.5M vs $72.0M, roughly 1.9× Globalstar, Inc.). Terreno Realty Corp runs the higher net margin — 115.1% vs -16.1%, a 131.2% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 17.6%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% CAGR vs 12.9%).
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.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
GSAT vs TRNO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $137.5M |
| Net Profit | $-11.6M | $158.2M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | — |
| Net Margin | -16.1% | 115.1% |
| Revenue YoY | 17.6% | 32.6% |
| Net Profit YoY | 76.9% | 107.9% |
| EPS (diluted) | $-0.11 | $1.54 |
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 | $137.5M | ||
| Q3 25 | $73.8M | $116.2M | ||
| Q2 25 | $67.1M | $112.2M | ||
| Q1 25 | $60.0M | $110.4M | ||
| Q4 24 | $61.2M | $103.7M | ||
| Q3 24 | $72.3M | $99.6M | ||
| Q2 24 | $60.4M | $94.2M | ||
| Q1 24 | $56.5M | $85.0M |
| Q4 25 | $-11.6M | $158.2M | ||
| Q3 25 | $1.1M | $103.4M | ||
| Q2 25 | $19.2M | $93.3M | ||
| Q1 25 | $-17.3M | $48.1M | ||
| Q4 24 | $-50.2M | $76.1M | ||
| Q3 24 | $9.9M | $36.6M | ||
| Q2 24 | $-9.7M | $35.7M | ||
| Q1 24 | $-13.2M | $36.1M |
| Q4 25 | -0.5% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | -14.2% | — | ||
| Q4 24 | -6.9% | — | ||
| Q3 24 | 13.0% | — | ||
| Q2 24 | -2.4% | — | ||
| Q1 24 | -8.3% | — |
| Q4 25 | -16.1% | 115.1% | ||
| Q3 25 | 1.5% | 88.9% | ||
| Q2 25 | 28.6% | 83.1% | ||
| Q1 25 | -28.9% | 43.6% | ||
| Q4 24 | -82.1% | 73.4% | ||
| Q3 24 | 13.7% | 36.8% | ||
| Q2 24 | -16.0% | 37.9% | ||
| Q1 24 | -23.4% | 42.4% |
| Q4 25 | $-0.11 | $1.54 | ||
| Q3 25 | $-0.01 | $1.00 | ||
| Q2 25 | $0.13 | $0.90 | ||
| Q1 25 | $-0.16 | $0.47 | ||
| Q4 24 | $-0.57 | $0.78 | ||
| Q3 24 | $0.00 | $0.37 | ||
| Q2 24 | $-0.01 | $0.37 | ||
| Q1 24 | $-0.01 | $0.40 |
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 | $25.0M |
| Total DebtLower is stronger | $483.8M | $943.3M |
| Stockholders' EquityBook value | $355.7M | $4.1B |
| Total Assets | $2.3B | $5.4B |
| Debt / EquityLower = less leverage | 1.36× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $25.0M | ||
| Q3 25 | $346.3M | $26.2M | ||
| Q2 25 | $308.2M | $128.4M | ||
| Q1 25 | $241.4M | $156.5M | ||
| Q4 24 | $391.2M | $18.1M | ||
| Q3 24 | $51.9M | $243.7M | ||
| Q2 24 | $64.3M | $182.0M | ||
| Q1 24 | $59.3M | $649.6M |
| Q4 25 | $483.8M | $943.3M | ||
| Q3 25 | $508.6M | $1.0B | ||
| Q2 25 | $491.5M | $742.4M | ||
| Q1 25 | $502.7M | $741.9M | ||
| Q4 24 | $511.4M | $823.4M | ||
| Q3 24 | $394.4M | $672.2M | ||
| Q2 24 | $393.1M | $772.0M | ||
| Q1 24 | $398.7M | $771.8M |
| Q4 25 | $355.7M | $4.1B | ||
| Q3 25 | $364.8M | $4.0B | ||
| Q2 25 | $360.9M | $3.9B | ||
| Q1 25 | $344.3M | $3.9B | ||
| Q4 24 | $358.9M | $3.7B | ||
| Q3 24 | $394.1M | $3.6B | ||
| Q2 24 | $383.0M | $3.4B | ||
| Q1 24 | $377.1M | $3.4B |
| Q4 25 | $2.3B | $5.4B | ||
| Q3 25 | $2.2B | $5.3B | ||
| Q2 25 | $1.9B | $5.0B | ||
| Q1 25 | $1.7B | $4.9B | ||
| Q4 24 | $1.7B | $4.8B | ||
| Q3 24 | $917.6M | $4.6B | ||
| Q2 24 | $926.2M | $4.5B | ||
| Q1 24 | $917.0M | $4.4B |
| Q4 25 | 1.36× | 0.23× | ||
| Q3 25 | 1.39× | 0.26× | ||
| Q2 25 | 1.36× | 0.19× | ||
| Q1 25 | 1.46× | 0.19× | ||
| Q4 24 | 1.43× | 0.22× | ||
| Q3 24 | 1.00× | 0.19× | ||
| Q2 24 | 1.03× | 0.22× | ||
| Q1 24 | 1.06× | 0.22× |
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 | $271.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $271.9M | ||
| Q3 25 | $236.0M | $79.5M | ||
| Q2 25 | $157.9M | $60.6M | ||
| Q1 25 | $51.9M | $61.4M | ||
| Q4 24 | $340.7M | $232.7M | ||
| Q3 24 | $32.0M | $70.0M | ||
| Q2 24 | $36.7M | $64.3M | ||
| Q1 24 | $29.8M | $47.0M |
| Q4 25 | — | 1.72× | ||
| Q3 25 | 216.53× | 0.77× | ||
| Q2 25 | 8.22× | 0.65× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.06× | ||
| Q3 24 | 3.23× | 1.91× | ||
| Q2 24 | — | 1.80× | ||
| Q1 24 | — | 1.30× |
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% |
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
