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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and LIQUIDITY SERVICES INC (LQDT). Click either name above to swap in a different company.
LIQUIDITY SERVICES INC is the larger business by last-quarter revenue ($121.2M vs $66.7M, roughly 1.8× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 6.2%, a 41.6% gap on every dollar of revenue. On growth, LIQUIDITY SERVICES INC posted the faster year-over-year revenue change (-0.9% vs -13.1%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (15.1% 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. ...
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
IIPR vs LQDT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $66.7M | $121.2M |
| Net Profit | $31.8M | $7.5M |
| Gross Margin | — | 47.0% |
| Operating Margin | 47.8% | 7.7% |
| Net Margin | 47.8% | 6.2% |
| Revenue YoY | -13.1% | -0.9% |
| Net Profit YoY | -20.4% | 28.9% |
| EPS (diluted) | $1.07 | $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 | $66.7M | $121.2M | ||
| Q3 25 | $64.7M | $118.1M | ||
| Q2 25 | $62.9M | $119.9M | ||
| Q1 25 | $71.7M | $116.4M | ||
| Q4 24 | $76.7M | $122.3M | ||
| Q3 24 | $76.5M | $106.9M | ||
| Q2 24 | $79.8M | $93.6M | ||
| Q1 24 | $75.5M | $91.5M |
| Q4 25 | $31.8M | $7.5M | ||
| Q3 25 | $29.3M | $7.8M | ||
| Q2 25 | $26.0M | $7.4M | ||
| Q1 25 | $31.1M | $7.1M | ||
| Q4 24 | $40.0M | $5.8M | ||
| Q3 24 | $40.2M | $6.4M | ||
| Q2 24 | $42.0M | $6.0M | ||
| Q1 24 | $39.4M | $5.7M |
| Q4 25 | — | 47.0% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 45.7% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | — | 41.0% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 52.8% | ||
| Q1 24 | — | 51.6% |
| Q4 25 | 47.8% | 7.7% | ||
| Q3 25 | 45.5% | 9.3% | ||
| Q2 25 | 45.9% | 8.5% | ||
| Q1 25 | 47.4% | 5.8% | ||
| Q4 24 | 54.7% | 5.8% | ||
| Q3 24 | 54.8% | 6.8% | ||
| Q2 24 | 53.1% | 8.4% | ||
| Q1 24 | 55.7% | 7.2% |
| Q4 25 | 47.8% | 6.2% | ||
| Q3 25 | 45.3% | 6.6% | ||
| Q2 25 | 41.4% | 6.2% | ||
| Q1 25 | 43.3% | 6.1% | ||
| Q4 24 | 52.2% | 4.7% | ||
| Q3 24 | 52.6% | 6.0% | ||
| Q2 24 | 52.6% | 6.4% | ||
| Q1 24 | 52.3% | 6.2% |
| Q4 25 | $1.07 | $0.23 | ||
| Q3 25 | $0.97 | $0.24 | ||
| Q2 25 | $0.86 | $0.23 | ||
| Q1 25 | $1.03 | $0.22 | ||
| Q4 24 | $1.35 | $0.18 | ||
| Q3 24 | $1.37 | $0.20 | ||
| Q2 24 | $1.44 | $0.19 | ||
| Q1 24 | $1.36 | $0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.6M | $11.6M |
| Total DebtLower is stronger | $393.7M | — |
| Stockholders' EquityBook value | $1.8B | $215.3M |
| Total Assets | $2.4B | $369.1M |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.6M | $11.6M | ||
| Q3 25 | $41.9M | $11.2M | ||
| Q2 25 | $104.9M | $11.4M | ||
| Q1 25 | $133.3M | $10.5M | ||
| Q4 24 | $151.2M | $10.4M | ||
| Q3 24 | $172.4M | $2.3M | ||
| Q2 24 | $160.9M | $6.5M | ||
| Q1 24 | $173.5M | $8.4M |
| Q4 25 | $393.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.8B | $215.3M | ||
| Q3 25 | $1.9B | $203.2M | ||
| Q2 25 | $1.9B | $208.7M | ||
| Q1 25 | $1.9B | $196.3M | ||
| Q4 24 | $1.9B | $189.2M | ||
| Q3 24 | $1.9B | $182.6M | ||
| Q2 24 | $1.9B | $172.0M | ||
| Q1 24 | $2.0B | $163.9M |
| Q4 25 | $2.4B | $369.1M | ||
| Q3 25 | $2.3B | $375.1M | ||
| Q2 25 | $2.3B | $372.4M | ||
| Q1 25 | $2.4B | $358.8M | ||
| Q4 24 | $2.4B | $333.2M | ||
| Q3 24 | $2.4B | $346.9M | ||
| Q2 24 | $2.4B | $325.5M | ||
| Q1 24 | $2.4B | $303.7M |
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $198.2M | $-526.0K |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | — | 1.9% |
| Cash ConversionOCF / Net Profit | 6.22× | -0.07× |
| TTM Free Cash FlowTrailing 4 quarters | — | $70.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $198.2M | $-526.0K | ||
| Q3 25 | $45.6M | $38.0M | ||
| Q2 25 | $48.4M | $19.3M | ||
| Q1 25 | $54.2M | $21.6M | ||
| Q4 24 | $258.4M | $-12.1M | ||
| Q3 24 | $64.9M | $22.0M | ||
| Q2 24 | $64.2M | $22.2M | ||
| Q1 24 | $71.6M | $34.8M |
| Q4 25 | — | $-2.8M | ||
| Q3 25 | — | $36.0M | ||
| Q2 25 | — | $17.2M | ||
| Q1 25 | — | $19.8M | ||
| Q4 24 | — | $-14.0M | ||
| Q3 24 | — | $19.2M | ||
| Q2 24 | — | $20.3M | ||
| Q1 24 | — | $32.5M |
| Q4 25 | — | -2.3% | ||
| Q3 25 | — | 30.5% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | -11.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 21.7% | ||
| Q1 24 | — | 35.5% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.6% |
| Q4 25 | 6.22× | -0.07× | ||
| Q3 25 | 1.56× | 4.86× | ||
| Q2 25 | 1.86× | 2.60× | ||
| Q1 25 | 1.75× | 3.07× | ||
| Q4 24 | 6.46× | -2.09× | ||
| Q3 24 | 1.61× | 3.45× | ||
| Q2 24 | 1.53× | 3.71× | ||
| Q1 24 | 1.82× | 6.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIPR
Segment breakdown not available.
LQDT
| RSCG | $82.0M | 68% |
| Gov Deals | $22.3M | 18% |
| CAG | $11.5M | 9% |
| Machinio And Software Solutions Corporation | $5.5M | 5% |
