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Side-by-side financial comparison of HIGHWOODS PROPERTIES, INC. (HIW) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
HIGHWOODS PROPERTIES, INC. is the larger business by last-quarter revenue ($203.4M vs $140.7M, roughly 1.4× Purple Innovation, Inc.). HIGHWOODS PROPERTIES, INC. runs the higher net margin — 14.6% vs -2.3%, a 16.9% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs -1.1%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs -1.9%).
Highwoods Properties, Inc. is a publicly traded real estate investment trust that owns, develops, acquires, and manages high-quality office properties primarily located in fast-growing metropolitan areas across the Southeastern and Mid-Atlantic regions of the United States. Its client base includes corporate tenants across diverse industry segments such as technology, healthcare, finance, and professional services.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
HIW vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $203.4M | $140.7M |
| Net Profit | $29.7M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | 67.2% | -1.6% |
| Net Margin | 14.6% | -2.3% |
| Revenue YoY | -1.1% | 9.1% |
| Net Profit YoY | 1029.4% | 62.1% |
| EPS (diluted) | $0.25 | $0.03 |
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 | $203.4M | $140.7M | ||
| Q3 25 | $201.8M | $118.8M | ||
| Q2 25 | $200.6M | $105.1M | ||
| Q1 25 | $200.4M | $104.2M | ||
| Q4 24 | $205.5M | $129.0M | ||
| Q3 24 | $204.3M | $118.6M | ||
| Q2 24 | $204.7M | $120.3M | ||
| Q1 24 | $211.3M | $120.0M |
| Q4 25 | $29.7M | $-3.2M | ||
| Q3 25 | $13.7M | $-11.7M | ||
| Q2 25 | $19.2M | $-17.3M | ||
| Q1 25 | $100.0M | $-19.1M | ||
| Q4 24 | $-3.2M | $-8.5M | ||
| Q3 24 | $15.5M | $-39.2M | ||
| Q2 24 | $64.8M | $27.0K | ||
| Q1 24 | $27.2M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | 67.2% | -1.6% | ||
| Q3 25 | 67.3% | -10.2% | ||
| Q2 25 | 68.3% | -13.5% | ||
| Q1 25 | 67.5% | -13.9% | ||
| Q4 24 | 65.2% | -6.0% | ||
| Q3 24 | 67.8% | -39.5% | ||
| Q2 24 | 68.5% | -12.1% | ||
| Q1 24 | 66.7% | -19.3% |
| Q4 25 | 14.6% | -2.3% | ||
| Q3 25 | 6.8% | -9.9% | ||
| Q2 25 | 9.6% | -16.5% | ||
| Q1 25 | 49.9% | -18.4% | ||
| Q4 24 | -1.6% | -6.6% | ||
| Q3 24 | 7.6% | -33.1% | ||
| Q2 24 | 31.6% | 0.0% | ||
| Q1 24 | 12.9% | -41.8% |
| Q4 25 | $0.25 | $0.03 | ||
| Q3 25 | $0.12 | $0.11 | ||
| Q2 25 | $0.17 | $0.16 | ||
| Q1 25 | $0.91 | $0.18 | ||
| Q4 24 | $-0.04 | $0.08 | ||
| Q3 24 | $0.14 | $0.36 | ||
| Q2 24 | $0.59 | $0.00 | ||
| Q1 24 | $0.25 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.4M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $2.4B | $-29.7M |
| Total Assets | $6.3B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.4M | $24.3M | ||
| Q3 25 | $26.3M | $32.4M | ||
| Q2 25 | $21.2M | $34.2M | ||
| Q1 25 | $20.1M | $21.6M | ||
| Q4 24 | $22.4M | $29.0M | ||
| Q3 24 | $23.6M | $23.4M | ||
| Q2 24 | $27.0M | $23.4M | ||
| Q1 24 | $16.4M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.4B | $-29.7M | ||
| Q3 25 | $2.4B | $-26.9M | ||
| Q2 25 | $2.4B | $-15.6M | ||
| Q1 25 | $2.4B | $1.3M | ||
| Q4 24 | $2.4B | $20.2M | ||
| Q3 24 | $2.4B | $28.0M | ||
| Q2 24 | $2.4B | $66.4M | ||
| Q1 24 | $2.4B | $65.5M |
| Q4 25 | $6.3B | $296.3M | ||
| Q3 25 | $6.1B | $302.1M | ||
| Q2 25 | $6.1B | $303.8M | ||
| Q1 25 | $6.1B | $293.8M | ||
| Q4 24 | $6.0B | $307.8M | ||
| Q3 24 | $6.0B | $309.3M | ||
| Q2 24 | $6.0B | $362.1M | ||
| Q1 24 | $6.0B | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $359.2M | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 12.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $359.2M | $-5.8M | ||
| Q3 25 | $96.7M | $-968.0K | ||
| Q2 25 | $116.5M | $-4.0M | ||
| Q1 25 | $46.3M | $-23.1M | ||
| Q4 24 | $403.6M | $6.8M | ||
| Q3 24 | $97.5M | $1.1M | ||
| Q2 24 | $130.0M | $-8.9M | ||
| Q1 24 | $72.4M | $-16.8M |
| Q4 25 | — | $-7.8M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | — | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-19.9M |
| Q4 25 | — | -5.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -16.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 12.09× | — | ||
| Q3 25 | 7.05× | — | ||
| Q2 25 | 6.06× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.30× | — | ||
| Q2 24 | 2.01× | -330.22× | ||
| Q1 24 | 2.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HIW
| Raleigh NC | $45.6M | 22% |
| Nashville TN | $38.7M | 19% |
| Atlanta GA | $36.1M | 18% |
| Charlotte NC | $26.1M | 13% |
| Tampa FL | $22.2M | 11% |
| Orlando FL | $14.4M | 7% |
| Other | $11.4M | 6% |
| Richmond VA | $8.8M | 4% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
