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Side-by-side financial comparison of Guidewire Software, Inc. (GWRE) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
Guidewire Software, Inc. is the larger business by last-quarter revenue ($332.6M vs $187.0M, roughly 1.8× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 9.4%, a 2.8% gap on every dollar of revenue. On growth, Guidewire Software, Inc. posted the faster year-over-year revenue change (26.5% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-72.3M). Over the past eight quarters, Guidewire Software, Inc.'s revenue compounded faster (17.5% CAGR vs -2.4%).
Guidewire Software, Inc., commonly Guidewire, is an American software company based in San Mateo, California. It offers an industry platform for property and casualty (P&C) insurance carriers in the U.S. and worldwide.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
GWRE vs NSA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $332.6M | $187.0M |
| Net Profit | $31.3M | $22.9M |
| Gross Margin | 63.0% | 72.5% |
| Operating Margin | 5.6% | 20.2% |
| Net Margin | 9.4% | 12.2% |
| Revenue YoY | 26.5% | -1.6% |
| Net Profit YoY | 242.6% | 36.8% |
| EPS (diluted) | $0.36 | $0.23 |
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 | $332.6M | $187.0M | ||
| Q3 25 | $356.6M | $188.7M | ||
| Q2 25 | $293.5M | $188.8M | ||
| Q1 25 | $289.5M | $188.4M | ||
| Q4 24 | $262.9M | $190.1M | ||
| Q3 24 | $291.5M | $193.6M | ||
| Q2 24 | $240.7M | $190.4M | ||
| Q1 24 | $240.9M | $196.1M |
| Q4 25 | $31.3M | $22.9M | ||
| Q3 25 | $52.0M | $18.4M | ||
| Q2 25 | $46.0M | $19.5M | ||
| Q1 25 | $-37.3M | $13.0M | ||
| Q4 24 | $9.1M | $16.7M | ||
| Q3 24 | $16.8M | $18.7M | ||
| Q2 24 | $-5.5M | $17.1M | ||
| Q1 24 | $9.7M | $59.0M |
| Q4 25 | 63.0% | 72.5% | ||
| Q3 25 | 65.0% | 70.7% | ||
| Q2 25 | 62.2% | 70.5% | ||
| Q1 25 | 61.9% | 70.7% | ||
| Q4 24 | 60.2% | 72.5% | ||
| Q3 24 | 64.0% | 72.8% | ||
| Q2 24 | 59.1% | 72.6% | ||
| Q1 24 | 59.1% | 72.1% |
| Q4 25 | 5.6% | 20.2% | ||
| Q3 25 | 8.3% | 15.8% | ||
| Q2 25 | 1.5% | 16.5% | ||
| Q1 25 | 4.0% | 11.0% | ||
| Q4 24 | -1.8% | 14.5% | ||
| Q3 24 | 3.5% | 15.8% | ||
| Q2 24 | -6.9% | 17.2% | ||
| Q1 24 | -5.2% | 48.9% |
| Q4 25 | 9.4% | 12.2% | ||
| Q3 25 | 14.6% | 9.8% | ||
| Q2 25 | 15.7% | 10.3% | ||
| Q1 25 | -12.9% | 6.9% | ||
| Q4 24 | 3.5% | 8.8% | ||
| Q3 24 | 5.7% | 9.7% | ||
| Q2 24 | -2.3% | 9.0% | ||
| Q1 24 | 4.0% | 30.1% |
| Q4 25 | $0.36 | $0.23 | ||
| Q3 25 | $0.61 | $0.17 | ||
| Q2 25 | $0.54 | $0.19 | ||
| Q1 25 | $-0.45 | $0.10 | ||
| Q4 24 | $0.11 | $0.19 | ||
| Q3 24 | $0.21 | $0.18 | ||
| Q2 24 | $-0.07 | $0.16 | ||
| Q1 24 | $0.12 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $946.0M |
| Total Assets | $2.6B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $23.3M | ||
| Q3 25 | $1.1B | $26.3M | ||
| Q2 25 | $920.4M | $26.1M | ||
| Q1 25 | $1.2B | $19.3M | ||
| Q4 24 | $1.3B | $50.4M | ||
| Q3 24 | $1.0B | $69.9M | ||
| Q2 24 | $782.3M | $59.0M | ||
| Q1 24 | $777.6M | $64.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $398.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $946.0M | ||
| Q3 25 | $1.5B | $973.1M | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.3B | $986.9M | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
| Q4 25 | $2.6B | $5.1B | ||
| Q3 25 | $2.7B | $5.1B | ||
| Q2 25 | $2.5B | $5.2B | ||
| Q1 25 | $2.5B | $5.3B | ||
| Q4 24 | $2.6B | $5.4B | ||
| Q3 24 | $2.2B | $5.4B | ||
| Q2 24 | $2.0B | $5.3B | ||
| Q1 24 | $2.0B | $5.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-67.4M | $338.5M |
| Free Cash FlowOCF − Capex | $-72.3M | $299.8M |
| FCF MarginFCF / Revenue | -21.7% | 160.3% |
| Capex IntensityCapex / Revenue | 1.5% | 20.7% |
| Cash ConversionOCF / Net Profit | -2.15× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $286.0M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-67.4M | $338.5M | ||
| Q3 25 | $244.8M | $100.2M | ||
| Q2 25 | $32.4M | $79.9M | ||
| Q1 25 | $86.0M | $85.6M | ||
| Q4 24 | $-62.3M | $363.1M | ||
| Q3 24 | $193.8M | $105.7M | ||
| Q2 24 | $4.8M | $83.2M | ||
| Q1 24 | $69.3M | $94.0M |
| Q4 25 | $-72.3M | $299.8M | ||
| Q3 25 | $241.4M | $88.0M | ||
| Q2 25 | $31.6M | $73.8M | ||
| Q1 25 | $85.2M | $79.9M | ||
| Q4 24 | $-63.1M | $344.4M | ||
| Q3 24 | $192.1M | $101.8M | ||
| Q2 24 | $4.1M | $79.5M | ||
| Q1 24 | $66.3M | $88.6M |
| Q4 25 | -21.7% | 160.3% | ||
| Q3 25 | 67.7% | 46.6% | ||
| Q2 25 | 10.8% | 39.1% | ||
| Q1 25 | 29.4% | 42.4% | ||
| Q4 24 | -24.0% | 181.2% | ||
| Q3 24 | 65.9% | 52.6% | ||
| Q2 24 | 1.7% | 41.7% | ||
| Q1 24 | 27.5% | 45.2% |
| Q4 25 | 1.5% | 20.7% | ||
| Q3 25 | 1.0% | 6.5% | ||
| Q2 25 | 0.2% | 3.2% | ||
| Q1 25 | 0.3% | 3.0% | ||
| Q4 24 | 0.3% | 9.8% | ||
| Q3 24 | 0.6% | 2.0% | ||
| Q2 24 | 0.3% | 1.9% | ||
| Q1 24 | 1.2% | 2.7% |
| Q4 25 | -2.15× | 14.79× | ||
| Q3 25 | 4.71× | 5.44× | ||
| Q2 25 | 0.70× | 4.10× | ||
| Q1 25 | — | 6.59× | ||
| Q4 24 | -6.82× | 21.70× | ||
| Q3 24 | 11.56× | 5.65× | ||
| Q2 24 | — | 4.88× | ||
| Q1 24 | 7.15× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GWRE
| Subscription | $222.7M | 67% |
| Services | $62.4M | 19% |
| Other | $33.1M | 10% |
| Support | $14.5M | 4% |
NSA
Segment breakdown not available.
