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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and LAKELAND FINANCIAL CORP (LKFN). Click either name above to swap in a different company.

LAKELAND FINANCIAL CORP is the larger business by last-quarter revenue ($69.7M vs $66.7M, roughly 1.0× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 38.0%, a 9.8% gap on every dollar of revenue. Over the past eight quarters, LAKELAND FINANCIAL CORP's revenue compounded faster (0.7% 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. ...

Amscot Financial is an American financial services company headquartered in Tampa, Florida. Founded in 1989 by Ian MacKechnie, Amscot Financial provides non-bank consumer financial services through a network of retail branches located exclusively within Florida. Amscot's core services include check cashing, bill payment, prepaid access cards, payday loans, free money orders, ATMs in every branch, wire transfers, notary services, fax services, and postage. Amscot Financial operates nearly 240 ...

IIPR vs LKFN — Head-to-Head

Bigger by revenue
LKFN
LKFN
1.0× larger
LKFN
$69.7M
$66.7M
IIPR
Higher net margin
IIPR
IIPR
9.8% more per $
IIPR
47.8%
38.0%
LKFN
Faster 2-yr revenue CAGR
LKFN
LKFN
Annualised
LKFN
0.7%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
IIPR
IIPR
LKFN
LKFN
Revenue
$66.7M
$69.7M
Net Profit
$31.8M
$26.5M
Gross Margin
Operating Margin
47.8%
Net Margin
47.8%
38.0%
Revenue YoY
-13.1%
Net Profit YoY
-20.4%
31.8%
EPS (diluted)
$1.07
$1.04

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
LKFN
LKFN
Q1 26
$69.7M
Q4 25
$66.7M
$69.8M
Q3 25
$64.7M
$69.0M
Q2 25
$62.9M
$66.4M
Q1 25
$71.7M
$63.8M
Q4 24
$76.7M
$63.6M
Q3 24
$76.5M
$61.2M
Q2 24
$79.8M
$68.7M
Net Profit
IIPR
IIPR
LKFN
LKFN
Q1 26
$26.5M
Q4 25
$31.8M
$29.9M
Q3 25
$29.3M
$26.4M
Q2 25
$26.0M
$27.0M
Q1 25
$31.1M
$20.1M
Q4 24
$40.0M
$24.2M
Q3 24
$40.2M
$23.3M
Q2 24
$42.0M
$22.5M
Operating Margin
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
47.8%
52.1%
Q3 25
45.5%
46.4%
Q2 25
45.9%
49.6%
Q1 25
47.4%
38.0%
Q4 24
54.7%
46.0%
Q3 24
54.8%
45.3%
Q2 24
53.1%
39.2%
Net Margin
IIPR
IIPR
LKFN
LKFN
Q1 26
38.0%
Q4 25
47.8%
42.8%
Q3 25
45.3%
38.3%
Q2 25
41.4%
40.6%
Q1 25
43.3%
31.5%
Q4 24
52.2%
38.1%
Q3 24
52.6%
38.1%
Q2 24
52.6%
32.8%
EPS (diluted)
IIPR
IIPR
LKFN
LKFN
Q1 26
$1.04
Q4 25
$1.07
$1.16
Q3 25
$0.97
$1.03
Q2 25
$0.86
$1.04
Q1 25
$1.03
$0.78
Q4 24
$1.35
$0.94
Q3 24
$1.37
$0.91
Q2 24
$1.44
$0.87

Balance Sheet & Financial Strength

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

Metric
IIPR
IIPR
LKFN
LKFN
Cash + ST InvestmentsLiquidity on hand
$47.6M
$85.6M
Total DebtLower is stronger
$393.7M
$183.6M
Stockholders' EquityBook value
$1.8B
$749.0M
Total Assets
$2.4B
$7.1B
Debt / EquityLower = less leverage
0.21×
0.25×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
LKFN
LKFN
Q1 26
$85.6M
Q4 25
$47.6M
$141.3M
Q3 25
$41.9M
$192.8M
Q2 25
$104.9M
$310.2M
Q1 25
$133.3M
$235.2M
Q4 24
$151.2M
$168.2M
Q3 24
$172.4M
$160.2M
Q2 24
$160.9M
$121.2M
Total Debt
IIPR
IIPR
LKFN
LKFN
Q1 26
$183.6M
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$30.0M
Q2 24
$55.0M
Stockholders' Equity
IIPR
IIPR
LKFN
LKFN
Q1 26
$749.0M
Q4 25
$1.8B
$762.4M
Q3 25
$1.9B
$747.4M
Q2 25
$1.9B
$709.9M
Q1 25
$1.9B
$694.4M
Q4 24
$1.9B
$683.8M
Q3 24
$1.9B
$699.1M
Q2 24
$1.9B
$654.5M
Total Assets
IIPR
IIPR
LKFN
LKFN
Q1 26
$7.1B
Q4 25
$2.4B
$7.0B
Q3 25
$2.3B
$6.9B
Q2 25
$2.3B
$7.0B
Q1 25
$2.4B
$6.9B
Q4 24
$2.4B
$6.7B
Q3 24
$2.4B
$6.6B
Q2 24
$2.4B
$6.6B
Debt / Equity
IIPR
IIPR
LKFN
LKFN
Q1 26
0.25×
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
0.04×
Q2 24
0.08×

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
LKFN
LKFN
Operating Cash FlowLast quarter
$198.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
$198.2M
$114.9M
Q3 25
$45.6M
$36.1M
Q2 25
$48.4M
$16.2M
Q1 25
$54.2M
$28.9M
Q4 24
$258.4M
$102.5M
Q3 24
$64.9M
$18.0M
Q2 24
$64.2M
$21.0M
Free Cash Flow
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
$103.8M
Q3 25
$31.1M
Q2 25
$14.1M
Q1 25
$27.1M
Q4 24
$93.9M
Q3 24
$15.3M
Q2 24
$18.6M
FCF Margin
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
148.7%
Q3 25
45.0%
Q2 25
21.2%
Q1 25
42.5%
Q4 24
147.6%
Q3 24
25.0%
Q2 24
27.0%
Capex Intensity
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
15.9%
Q3 25
7.3%
Q2 25
3.2%
Q1 25
2.8%
Q4 24
13.6%
Q3 24
4.4%
Q2 24
3.5%
Cash Conversion
IIPR
IIPR
LKFN
LKFN
Q1 26
Q4 25
6.22×
3.84×
Q3 25
1.56×
1.37×
Q2 25
1.86×
0.60×
Q1 25
1.75×
1.44×
Q4 24
6.46×
4.24×
Q3 24
1.61×
0.77×
Q2 24
1.53×
0.93×

Financial Flow Comparison

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

Revenue Breakdown by Segment

IIPR
IIPR

Segment breakdown not available.

LKFN
LKFN

Net Interest Income$56.8M81%
Noninterest Income$12.9M19%

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