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

Stock Yards Bancorp, Inc. is the larger business by last-quarter revenue ($104.4M vs $66.7M, roughly 1.6× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 35.1%, a 12.7% gap on every dollar of revenue. On growth, Stock Yards Bancorp, Inc. posted the faster year-over-year revenue change (11.7% vs -13.1%). Over the past eight quarters, Stock Yards Bancorp, Inc.'s revenue compounded faster (11.9% 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. ...

Community Trust Bancorp is an American regional bank holding company that was founded in 1903 as Pikeville National Bank. The renamed corporation continues to have its headquarters in Pikeville, Kentucky, at the heart of Appalachia. Community Trust Bancorp operates a commercial bank, Community Trust Bank, and a trust company, Community Trust and Investment Company of Lexington.

IIPR vs SYBT — Head-to-Head

Bigger by revenue
SYBT
SYBT
1.6× larger
SYBT
$104.4M
$66.7M
IIPR
Growing faster (revenue YoY)
SYBT
SYBT
+24.8% gap
SYBT
11.7%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
12.7% more per $
IIPR
47.8%
35.1%
SYBT
Faster 2-yr revenue CAGR
SYBT
SYBT
Annualised
SYBT
11.9%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
SYBT
SYBT
Revenue
$66.7M
$104.4M
Net Profit
$31.8M
$36.6M
Gross Margin
Operating Margin
47.8%
45.9%
Net Margin
47.8%
35.1%
Revenue YoY
-13.1%
11.7%
Net Profit YoY
-20.4%
15.5%
EPS (diluted)
$1.07
$1.24

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
SYBT
SYBT
Q4 25
$66.7M
$104.4M
Q3 25
$64.7M
$101.5M
Q2 25
$62.9M
$97.8M
Q1 25
$71.7M
$93.5M
Q4 24
$76.7M
$93.5M
Q3 24
$76.5M
$89.8M
Q2 24
$79.8M
$85.7M
Q1 24
$75.5M
$83.3M
Net Profit
IIPR
IIPR
SYBT
SYBT
Q4 25
$31.8M
$36.6M
Q3 25
$29.3M
$36.2M
Q2 25
$26.0M
$34.0M
Q1 25
$31.1M
$33.3M
Q4 24
$40.0M
$31.7M
Q3 24
$40.2M
$29.4M
Q2 24
$42.0M
$27.6M
Q1 24
$39.4M
$25.9M
Operating Margin
IIPR
IIPR
SYBT
SYBT
Q4 25
47.8%
45.9%
Q3 25
45.5%
45.0%
Q2 25
45.9%
43.9%
Q1 25
47.4%
44.5%
Q4 24
54.7%
41.9%
Q3 24
54.8%
41.2%
Q2 24
53.1%
41.2%
Q1 24
55.7%
39.5%
Net Margin
IIPR
IIPR
SYBT
SYBT
Q4 25
47.8%
35.1%
Q3 25
45.3%
35.7%
Q2 25
41.4%
34.8%
Q1 25
43.3%
35.6%
Q4 24
52.2%
33.9%
Q3 24
52.6%
32.7%
Q2 24
52.6%
32.2%
Q1 24
52.3%
31.1%
EPS (diluted)
IIPR
IIPR
SYBT
SYBT
Q4 25
$1.07
$1.24
Q3 25
$0.97
$1.23
Q2 25
$0.86
$1.15
Q1 25
$1.03
$1.13
Q4 24
$1.35
$1.07
Q3 24
$1.37
$1.00
Q2 24
$1.44
$0.94
Q1 24
$1.36
$0.88

Balance Sheet & Financial Strength

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

Metric
IIPR
IIPR
SYBT
SYBT
Cash + ST InvestmentsLiquidity on hand
$47.6M
Total DebtLower is stronger
$393.7M
$26.8M
Stockholders' EquityBook value
$1.8B
$1.1B
Total Assets
$2.4B
$9.5B
Debt / EquityLower = less leverage
0.21×
0.02×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
SYBT
SYBT
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
SYBT
SYBT
Q4 25
$393.7M
$26.8M
Q3 25
$26.8M
Q2 25
Q1 25
$26.8M
Q4 24
$26.8M
Q3 24
$26.8M
Q2 24
$26.8M
Q1 24
$26.8M
Stockholders' Equity
IIPR
IIPR
SYBT
SYBT
Q4 25
$1.8B
$1.1B
Q3 25
$1.9B
$1.0B
Q2 25
$1.9B
$1.0B
Q1 25
$1.9B
$975.5M
Q4 24
$1.9B
$940.5M
Q3 24
$1.9B
$934.1M
Q2 24
$1.9B
$894.5M
Q1 24
$2.0B
$874.7M
Total Assets
IIPR
IIPR
SYBT
SYBT
Q4 25
$2.4B
$9.5B
Q3 25
$2.3B
$9.3B
Q2 25
$2.3B
$9.2B
Q1 25
$2.4B
$9.0B
Q4 24
$2.4B
$8.9B
Q3 24
$2.4B
$8.4B
Q2 24
$2.4B
$8.3B
Q1 24
$2.4B
$8.1B
Debt / Equity
IIPR
IIPR
SYBT
SYBT
Q4 25
0.21×
0.02×
Q3 25
0.03×
Q2 25
Q1 25
0.03×
Q4 24
0.03×
Q3 24
0.03×
Q2 24
0.03×
Q1 24
0.03×

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
SYBT
SYBT
Operating Cash FlowLast quarter
$198.2M
$166.0M
Free Cash FlowOCF − Capex
$154.0M
FCF MarginFCF / Revenue
147.5%
Capex IntensityCapex / Revenue
11.5%
Cash ConversionOCF / Net Profit
6.22×
4.54×
TTM Free Cash FlowTrailing 4 quarters
$260.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
SYBT
SYBT
Q4 25
$198.2M
$166.0M
Q3 25
$45.6M
$38.2M
Q2 25
$48.4M
$55.9M
Q1 25
$54.2M
$19.8M
Q4 24
$258.4M
$142.9M
Q3 24
$64.9M
$55.4M
Q2 24
$64.2M
$51.1M
Q1 24
$71.6M
$17.4M
Free Cash Flow
IIPR
IIPR
SYBT
SYBT
Q4 25
$154.0M
Q3 25
$35.2M
Q2 25
$53.5M
Q1 25
$17.8M
Q4 24
$133.0M
Q3 24
$53.9M
Q2 24
$47.9M
Q1 24
$15.6M
FCF Margin
IIPR
IIPR
SYBT
SYBT
Q4 25
147.5%
Q3 25
34.6%
Q2 25
54.7%
Q1 25
19.1%
Q4 24
142.3%
Q3 24
60.0%
Q2 24
55.9%
Q1 24
18.7%
Capex Intensity
IIPR
IIPR
SYBT
SYBT
Q4 25
11.5%
Q3 25
3.0%
Q2 25
2.5%
Q1 25
2.1%
Q4 24
10.5%
Q3 24
1.7%
Q2 24
3.8%
Q1 24
2.2%
Cash Conversion
IIPR
IIPR
SYBT
SYBT
Q4 25
6.22×
4.54×
Q3 25
1.56×
1.05×
Q2 25
1.86×
1.64×
Q1 25
1.75×
0.59×
Q4 24
6.46×
4.51×
Q3 24
1.61×
1.89×
Q2 24
1.53×
1.85×
Q1 24
1.82×
0.67×

Financial Flow Comparison

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

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