vs
Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $179.4M, roughly 1.0× HEARTLAND EXPRESS INC). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -10.8%, a 23.1% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -26.1%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-44.2M). Over the past eight quarters, National Storage Affiliates Trust's revenue compounded faster (-2.4% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $187.0M |
| Net Profit | $-19.4M | $22.9M |
| Gross Margin | — | 72.5% |
| Operating Margin | -12.7% | 20.2% |
| Net Margin | -10.8% | 12.2% |
| Revenue YoY | -26.1% | -1.6% |
| Net Profit YoY | -949.2% | 36.8% |
| EPS (diluted) | $-0.24 | $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 | $179.4M | $187.0M | ||
| Q3 25 | $196.5M | $188.7M | ||
| Q2 25 | $210.4M | $188.8M | ||
| Q1 25 | $219.4M | $188.4M | ||
| Q4 24 | $242.6M | $190.1M | ||
| Q3 24 | $259.9M | $193.6M | ||
| Q2 24 | $274.8M | $190.4M | ||
| Q1 24 | $270.3M | $196.1M |
| Q4 25 | $-19.4M | $22.9M | ||
| Q3 25 | $-8.3M | $18.4M | ||
| Q2 25 | $-10.9M | $19.5M | ||
| Q1 25 | $-13.9M | $13.0M | ||
| Q4 24 | $-1.9M | $16.7M | ||
| Q3 24 | $-9.3M | $18.7M | ||
| Q2 24 | $-3.5M | $17.1M | ||
| Q1 24 | $-15.1M | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 70.5% | ||
| Q1 25 | — | 70.7% | ||
| Q4 24 | — | 72.5% | ||
| Q3 24 | — | 72.8% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | -12.7% | 20.2% | ||
| Q3 25 | -3.7% | 15.8% | ||
| Q2 25 | -5.9% | 16.5% | ||
| Q1 25 | -6.8% | 11.0% | ||
| Q4 24 | 0.4% | 14.5% | ||
| Q3 24 | -2.7% | 15.8% | ||
| Q2 24 | 0.1% | 17.2% | ||
| Q1 24 | -5.3% | 48.9% |
| Q4 25 | -10.8% | 12.2% | ||
| Q3 25 | -4.2% | 9.8% | ||
| Q2 25 | -5.2% | 10.3% | ||
| Q1 25 | -6.3% | 6.9% | ||
| Q4 24 | -0.8% | 8.8% | ||
| Q3 24 | -3.6% | 9.7% | ||
| Q2 24 | -1.3% | 9.0% | ||
| Q1 24 | -5.6% | 30.1% |
| Q4 25 | $-0.24 | $0.23 | ||
| Q3 25 | $-0.11 | $0.17 | ||
| Q2 25 | $-0.14 | $0.19 | ||
| Q1 25 | $-0.18 | $0.10 | ||
| Q4 24 | $-0.03 | $0.19 | ||
| Q3 24 | $-0.12 | $0.18 | ||
| Q2 24 | $-0.04 | $0.16 | ||
| Q1 24 | $-0.19 | $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 | $18.5M | $23.3M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $946.0M |
| Total Assets | $1.2B | $5.1B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $23.3M | ||
| Q3 25 | $32.7M | $26.3M | ||
| Q2 25 | $22.9M | $26.1M | ||
| Q1 25 | $23.9M | $19.3M | ||
| Q4 24 | $12.8M | $50.4M | ||
| Q3 24 | $30.7M | $69.9M | ||
| Q2 24 | $23.9M | $59.0M | ||
| Q1 24 | $23.8M | $64.2M |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $946.0M | ||
| Q3 25 | $775.6M | $973.1M | ||
| Q2 25 | $786.7M | $1.0B | ||
| Q1 25 | $807.7M | $1.0B | ||
| Q4 24 | $822.6M | $1.1B | ||
| Q3 24 | $825.7M | $986.9M | ||
| Q2 24 | $836.8M | $1.2B | ||
| Q1 24 | $848.8M | $1.3B |
| Q4 25 | $1.2B | $5.1B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.3B | $5.2B | ||
| Q1 25 | $1.3B | $5.3B | ||
| Q4 24 | $1.3B | $5.4B | ||
| Q3 24 | $1.4B | $5.4B | ||
| Q2 24 | $1.4B | $5.3B | ||
| Q1 24 | $1.5B | $5.4B |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| 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 | $14.9M | $338.5M |
| Free Cash FlowOCF − Capex | $-44.2M | $299.8M |
| FCF MarginFCF / Revenue | -24.6% | 160.3% |
| Capex IntensityCapex / Revenue | 33.0% | 20.7% |
| Cash ConversionOCF / Net Profit | — | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $338.5M | ||
| Q3 25 | $27.5M | $100.2M | ||
| Q2 25 | $21.0M | $79.9M | ||
| Q1 25 | $25.8M | $85.6M | ||
| Q4 24 | $37.8M | $363.1M | ||
| Q3 24 | $35.6M | $105.7M | ||
| Q2 24 | $40.0M | $83.2M | ||
| Q1 24 | $31.0M | $94.0M |
| Q4 25 | $-44.2M | $299.8M | ||
| Q3 25 | $-12.2M | $88.0M | ||
| Q2 25 | $-12.8M | $73.8M | ||
| Q1 25 | $2.3M | $79.9M | ||
| Q4 24 | $-45.5M | $344.4M | ||
| Q3 24 | $24.6M | $101.8M | ||
| Q2 24 | $29.4M | $79.5M | ||
| Q1 24 | $26.3M | $88.6M |
| Q4 25 | -24.6% | 160.3% | ||
| Q3 25 | -6.2% | 46.6% | ||
| Q2 25 | -6.1% | 39.1% | ||
| Q1 25 | 1.0% | 42.4% | ||
| Q4 24 | -18.8% | 181.2% | ||
| Q3 24 | 9.5% | 52.6% | ||
| Q2 24 | 10.7% | 41.7% | ||
| Q1 24 | 9.7% | 45.2% |
| Q4 25 | 33.0% | 20.7% | ||
| Q3 25 | 20.2% | 6.5% | ||
| Q2 25 | 16.1% | 3.2% | ||
| Q1 25 | 10.7% | 3.0% | ||
| Q4 24 | 34.3% | 9.8% | ||
| Q3 24 | 4.2% | 2.0% | ||
| Q2 24 | 3.8% | 1.9% | ||
| Q1 24 | 1.7% | 2.7% |
| Q4 25 | — | 14.79× | ||
| Q3 25 | — | 5.44× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | — | 5.65× | ||
| Q2 24 | — | 4.88× | ||
| Q1 24 | — | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
