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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and Inspired Entertainment, Inc. (INSE). Click either name above to swap in a different company.

Inspired Entertainment, Inc. is the larger business by last-quarter revenue ($77.2M vs $66.7M, roughly 1.2× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs -9.3%, a 57.1% gap on every dollar of revenue. On growth, Inspired Entertainment, Inc. posted the faster year-over-year revenue change (-6.8% vs -13.1%). Over the past eight quarters, Inspired Entertainment, Inc.'s revenue compounded faster (11.3% CAGR vs -6.0%).

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

Alchemy Copyrights, LLC, doing business as Concord, is an independent American entertainment company. It develops, manages and acquires sound recordings, music publishing rights, theatrical performance rights, and narrative content for film and television. Concord is majority owned by the State of Michigan Retirement System.

IIPR vs INSE — Head-to-Head

Bigger by revenue
INSE
INSE
1.2× larger
INSE
$77.2M
$66.7M
IIPR
Growing faster (revenue YoY)
INSE
INSE
+6.4% gap
INSE
-6.8%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
57.1% more per $
IIPR
47.8%
-9.3%
INSE
Faster 2-yr revenue CAGR
INSE
INSE
Annualised
INSE
11.3%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
INSE
INSE
Revenue
$66.7M
$77.2M
Net Profit
$31.8M
$-7.2M
Gross Margin
Operating Margin
47.8%
14.6%
Net Margin
47.8%
-9.3%
Revenue YoY
-13.1%
-6.8%
Net Profit YoY
-20.4%
-110.7%
EPS (diluted)
$1.07
$-0.24

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.

Revenue
IIPR
IIPR
INSE
INSE
Q4 25
$66.7M
$77.2M
Q3 25
$64.7M
$86.2M
Q2 25
$62.9M
$80.3M
Q1 25
$71.7M
$60.4M
Q4 24
$76.7M
$82.8M
Q3 24
$76.5M
$77.2M
Q2 24
$79.8M
$74.8M
Q1 24
$75.5M
$62.3M
Net Profit
IIPR
IIPR
INSE
INSE
Q4 25
$31.8M
$-7.2M
Q3 25
$29.3M
$-1.9M
Q2 25
$26.0M
$-7.8M
Q1 25
$31.1M
$-100.0K
Q4 24
$40.0M
$67.0M
Q3 24
$40.2M
$2.8M
Q2 24
$42.0M
$1.4M
Q1 24
$39.4M
$-6.4M
Gross Margin
IIPR
IIPR
INSE
INSE
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
74.5%
Operating Margin
IIPR
IIPR
INSE
INSE
Q4 25
47.8%
14.6%
Q3 25
45.5%
11.3%
Q2 25
45.9%
9.8%
Q1 25
47.4%
2.6%
Q4 24
54.7%
15.6%
Q3 24
54.8%
14.5%
Q2 24
53.1%
11.6%
Q1 24
55.7%
-3.4%
Net Margin
IIPR
IIPR
INSE
INSE
Q4 25
47.8%
-9.3%
Q3 25
45.3%
-2.2%
Q2 25
41.4%
-9.7%
Q1 25
43.3%
-0.2%
Q4 24
52.2%
80.9%
Q3 24
52.6%
3.6%
Q2 24
52.6%
1.9%
Q1 24
52.3%
-10.3%
EPS (diluted)
IIPR
IIPR
INSE
INSE
Q4 25
$1.07
$-0.24
Q3 25
$0.97
$-0.07
Q2 25
$0.86
$-0.27
Q1 25
$1.03
$0.00
Q4 24
$1.35
$2.29
Q3 24
$1.37
$0.10
Q2 24
$1.44
$0.05
Q1 24
$1.36
$-0.22

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IIPR
IIPR
INSE
INSE
Cash + ST InvestmentsLiquidity on hand
$47.6M
Total DebtLower is stronger
$393.7M
$363.2M
Stockholders' EquityBook value
$1.8B
$-16.2M
Total Assets
$2.4B
$439.9M
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
INSE
INSE
Q4 25
$47.6M
Q3 25
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$172.4M
Q2 24
$160.9M
Q1 24
$173.5M
Total Debt
IIPR
IIPR
INSE
INSE
Q4 25
$393.7M
$363.2M
Q3 25
Q2 25
Q1 25
Q4 24
$313.2M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
INSE
INSE
Q4 25
$1.8B
$-16.2M
Q3 25
$1.9B
$-9.0M
Q2 25
$1.9B
$-9.5M
Q1 25
$1.9B
$-2.2M
Q4 24
$1.9B
$-3.3M
Q3 24
$1.9B
$-78.2M
Q2 24
$1.9B
$-77.1M
Q1 24
$2.0B
$-80.3M
Total Assets
IIPR
IIPR
INSE
INSE
Q4 25
$2.4B
$439.9M
Q3 25
$2.3B
$485.8M
Q2 25
$2.3B
$486.8M
Q1 25
$2.4B
$458.9M
Q4 24
$2.4B
$438.4M
Q3 24
$2.4B
$388.6M
Q2 24
$2.4B
$326.6M
Q1 24
$2.4B
$331.1M
Debt / Equity
IIPR
IIPR
INSE
INSE
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
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
IIPR
IIPR
INSE
INSE
Operating Cash FlowLast quarter
$198.2M
$1.2M
Free Cash FlowOCF − Capex
$-9.9M
FCF MarginFCF / Revenue
-12.8%
Capex IntensityCapex / Revenue
14.4%
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters
$16.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
INSE
INSE
Q4 25
$198.2M
$1.2M
Q3 25
$45.6M
$10.1M
Q2 25
$48.4M
$15.2M
Q1 25
$54.2M
$25.5M
Q4 24
$258.4M
$6.9M
Q3 24
$64.9M
$21.2M
Q2 24
$64.2M
$-2.4M
Q1 24
$71.6M
$6.0M
Free Cash Flow
IIPR
IIPR
INSE
INSE
Q4 25
$-9.9M
Q3 25
$4.3M
Q2 25
$5.6M
Q1 25
$16.3M
Q4 24
$1.6M
Q3 24
$16.8M
Q2 24
$-5.3M
Q1 24
$1.6M
FCF Margin
IIPR
IIPR
INSE
INSE
Q4 25
-12.8%
Q3 25
5.0%
Q2 25
7.0%
Q1 25
27.0%
Q4 24
1.9%
Q3 24
21.8%
Q2 24
-7.1%
Q1 24
2.6%
Capex Intensity
IIPR
IIPR
INSE
INSE
Q4 25
14.4%
Q3 25
6.7%
Q2 25
12.0%
Q1 25
15.2%
Q4 24
6.4%
Q3 24
5.7%
Q2 24
3.9%
Q1 24
7.1%
Cash Conversion
IIPR
IIPR
INSE
INSE
Q4 25
6.22×
Q3 25
1.56×
Q2 25
1.86×
Q1 25
1.75×
Q4 24
6.46×
0.10×
Q3 24
1.61×
7.57×
Q2 24
1.53×
-1.71×
Q1 24
1.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IIPR
IIPR

Segment breakdown not available.

INSE
INSE

Gaming$36.3M47%
Interactive$17.8M23%
Leisure$13.7M18%
Product Sales$8.8M11%

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