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

INNOVATIVE INDUSTRIAL PROPERTIES INC is the larger business by last-quarter revenue ($66.7M vs $41.3M, roughly 1.6× Northfield Bancorp, Inc.). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs -1545.5%, a 1593.3% gap on every dollar of revenue. On growth, Northfield Bancorp, Inc. posted the faster year-over-year revenue change (12.7% vs -13.1%). Over the past eight quarters, Northfield Bancorp, Inc.'s revenue compounded faster (15.0% 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. ...

Northfield Bancorp, Inc. is a regional bank holding company based in the United States, operating primarily across the U.S. Northeast region. It provides a full range of personal and commercial banking services including deposit accounts, mortgage loans, commercial lending, and wealth management solutions for retail consumers, small to medium-sized businesses and local community clients.

IIPR vs NFBK — Head-to-Head

Bigger by revenue
IIPR
IIPR
1.6× larger
IIPR
$66.7M
$41.3M
NFBK
Growing faster (revenue YoY)
NFBK
NFBK
+25.8% gap
NFBK
12.7%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
1593.3% more per $
IIPR
47.8%
-1545.5%
NFBK
Faster 2-yr revenue CAGR
NFBK
NFBK
Annualised
NFBK
15.0%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
NFBK
NFBK
Revenue
$66.7M
$41.3M
Net Profit
$31.8M
$-27.4M
Gross Margin
Operating Margin
47.8%
-1263.3%
Net Margin
47.8%
-1545.5%
Revenue YoY
-13.1%
12.7%
Net Profit YoY
-20.4%
-343.6%
EPS (diluted)
$1.07
$-0.68

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
NFBK
NFBK
Q4 25
$66.7M
$41.3M
Q3 25
$64.7M
$39.2M
Q2 25
$62.9M
$38.9M
Q1 25
$71.7M
$34.8M
Q4 24
$76.7M
$36.7M
Q3 24
$76.5M
$31.8M
Q2 24
$79.8M
$31.5M
Q1 24
$75.5M
$31.3M
Net Profit
IIPR
IIPR
NFBK
NFBK
Q4 25
$31.8M
$-27.4M
Q3 25
$29.3M
$10.8M
Q2 25
$26.0M
$9.6M
Q1 25
$31.1M
$7.9M
Q4 24
$40.0M
$11.3M
Q3 24
$40.2M
$6.5M
Q2 24
$42.0M
$6.0M
Q1 24
$39.4M
$6.2M
Operating Margin
IIPR
IIPR
NFBK
NFBK
Q4 25
47.8%
-1263.3%
Q3 25
45.5%
37.7%
Q2 25
45.9%
35.6%
Q1 25
47.4%
31.0%
Q4 24
54.7%
38.0%
Q3 24
54.8%
27.9%
Q2 24
53.1%
29.1%
Q1 24
55.7%
27.2%
Net Margin
IIPR
IIPR
NFBK
NFBK
Q4 25
47.8%
-1545.5%
Q3 25
45.3%
27.4%
Q2 25
41.4%
24.6%
Q1 25
43.3%
22.6%
Q4 24
52.2%
30.7%
Q3 24
52.6%
20.5%
Q2 24
52.6%
18.9%
Q1 24
52.3%
19.9%
EPS (diluted)
IIPR
IIPR
NFBK
NFBK
Q4 25
$1.07
$-0.68
Q3 25
$0.97
$0.27
Q2 25
$0.86
$0.24
Q1 25
$1.03
$0.19
Q4 24
$1.35
$0.27
Q3 24
$1.37
$0.16
Q2 24
$1.44
$0.14
Q1 24
$1.36
$0.15

Balance Sheet & Financial Strength

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

Metric
IIPR
IIPR
NFBK
NFBK
Cash + ST InvestmentsLiquidity on hand
$47.6M
$164.0M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.8B
$690.1M
Total Assets
$2.4B
$5.8B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
NFBK
NFBK
Q4 25
$47.6M
$164.0M
Q3 25
$41.9M
$131.7M
Q2 25
$104.9M
$97.6M
Q1 25
$133.3M
$101.7M
Q4 24
$151.2M
$167.7M
Q3 24
$172.4M
$232.9M
Q2 24
$160.9M
$153.5M
Q1 24
$173.5M
$238.8M
Total Debt
IIPR
IIPR
NFBK
NFBK
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
$666.4M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
NFBK
NFBK
Q4 25
$1.8B
$690.1M
Q3 25
$1.9B
$719.6M
Q2 25
$1.9B
$710.3M
Q1 25
$1.9B
$711.1M
Q4 24
$1.9B
$704.7M
Q3 24
$1.9B
$699.6M
Q2 24
$1.9B
$693.0M
Q1 24
$2.0B
$698.4M
Total Assets
IIPR
IIPR
NFBK
NFBK
Q4 25
$2.4B
$5.8B
Q3 25
$2.3B
$5.7B
Q2 25
$2.3B
$5.7B
Q1 25
$2.4B
$5.7B
Q4 24
$2.4B
$5.7B
Q3 24
$2.4B
$5.7B
Q2 24
$2.4B
$5.7B
Q1 24
$2.4B
$5.9B
Debt / Equity
IIPR
IIPR
NFBK
NFBK
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
0.95×
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
NFBK
NFBK
Operating Cash FlowLast quarter
$198.2M
$53.7M
Free Cash FlowOCF − Capex
$52.5M
FCF MarginFCF / Revenue
127.1%
Capex IntensityCapex / Revenue
2.8%
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters
$89.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
NFBK
NFBK
Q4 25
$198.2M
$53.7M
Q3 25
$45.6M
$13.9M
Q2 25
$48.4M
$14.1M
Q1 25
$54.2M
$9.4M
Q4 24
$258.4M
$31.1M
Q3 24
$64.9M
$14.0M
Q2 24
$64.2M
$6.9M
Q1 24
$71.6M
$4.2M
Free Cash Flow
IIPR
IIPR
NFBK
NFBK
Q4 25
$52.5M
Q3 25
$13.6M
Q2 25
$13.9M
Q1 25
$9.2M
Q4 24
$30.0M
Q3 24
$13.7M
Q2 24
$6.7M
Q1 24
$3.8M
FCF Margin
IIPR
IIPR
NFBK
NFBK
Q4 25
127.1%
Q3 25
34.6%
Q2 25
35.7%
Q1 25
26.3%
Q4 24
81.6%
Q3 24
43.2%
Q2 24
21.1%
Q1 24
12.1%
Capex Intensity
IIPR
IIPR
NFBK
NFBK
Q4 25
2.8%
Q3 25
0.8%
Q2 25
0.6%
Q1 25
0.7%
Q4 24
3.1%
Q3 24
0.7%
Q2 24
0.8%
Q1 24
1.4%
Cash Conversion
IIPR
IIPR
NFBK
NFBK
Q4 25
6.22×
Q3 25
1.56×
1.29×
Q2 25
1.86×
1.48×
Q1 25
1.75×
1.20×
Q4 24
6.46×
2.76×
Q3 24
1.61×
2.14×
Q2 24
1.53×
1.16×
Q1 24
1.82×
0.68×

Financial Flow Comparison

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

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