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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and VIEMED HEALTHCARE, INC. (VMD). Click either name above to swap in a different company.

VIEMED HEALTHCARE, INC. is the larger business by last-quarter revenue ($76.2M vs $66.7M, roughly 1.1× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 7.4%, a 40.4% gap on every dollar of revenue. On growth, VIEMED HEALTHCARE, INC. posted the faster year-over-year revenue change (25.5% vs -13.1%). Over the past eight quarters, VIEMED HEALTHCARE, INC.'s revenue compounded faster (22.7% 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. ...

Viemed Healthcare, Inc. is a medical technology firm specializing in respiratory care solutions. It develops, manufactures and distributes portable ventilators, respiratory therapy devices and related support services, catering to acute care, post-acute care and home care segments across North America, Europe and key Asia-Pacific markets for patients with respiratory conditions.

IIPR vs VMD — Head-to-Head

Bigger by revenue
VMD
VMD
1.1× larger
VMD
$76.2M
$66.7M
IIPR
Growing faster (revenue YoY)
VMD
VMD
+38.7% gap
VMD
25.5%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
40.4% more per $
IIPR
47.8%
7.4%
VMD
Faster 2-yr revenue CAGR
VMD
VMD
Annualised
VMD
22.7%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
VMD
VMD
Revenue
$66.7M
$76.2M
Net Profit
$31.8M
$5.6M
Gross Margin
57.9%
Operating Margin
47.8%
11.0%
Net Margin
47.8%
7.4%
Revenue YoY
-13.1%
25.5%
Net Profit YoY
-20.4%
30.7%
EPS (diluted)
$1.07
$0.14

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
VMD
VMD
Q4 25
$66.7M
$76.2M
Q3 25
$64.7M
$71.9M
Q2 25
$62.9M
$63.1M
Q1 25
$71.7M
$59.1M
Q4 24
$76.7M
$60.7M
Q3 24
$76.5M
$58.0M
Q2 24
$79.8M
$55.0M
Q1 24
$75.5M
$50.6M
Net Profit
IIPR
IIPR
VMD
VMD
Q4 25
$31.8M
$5.6M
Q3 25
$29.3M
$3.5M
Q2 25
$26.0M
$3.2M
Q1 25
$31.1M
$2.6M
Q4 24
$40.0M
$4.3M
Q3 24
$40.2M
$3.9M
Q2 24
$42.0M
$1.5M
Q1 24
$39.4M
$1.6M
Gross Margin
IIPR
IIPR
VMD
VMD
Q4 25
57.9%
Q3 25
57.5%
Q2 25
58.3%
Q1 25
56.3%
Q4 24
59.5%
Q3 24
59.3%
Q2 24
59.8%
Q1 24
58.9%
Operating Margin
IIPR
IIPR
VMD
VMD
Q4 25
47.8%
11.0%
Q3 25
45.5%
7.8%
Q2 25
45.9%
8.1%
Q1 25
47.4%
6.5%
Q4 24
54.7%
10.6%
Q3 24
54.8%
9.7%
Q2 24
53.1%
6.6%
Q1 24
55.7%
4.4%
Net Margin
IIPR
IIPR
VMD
VMD
Q4 25
47.8%
7.4%
Q3 25
45.3%
4.9%
Q2 25
41.4%
5.0%
Q1 25
43.3%
4.4%
Q4 24
52.2%
7.1%
Q3 24
52.6%
6.7%
Q2 24
52.6%
2.7%
Q1 24
52.3%
3.2%
EPS (diluted)
IIPR
IIPR
VMD
VMD
Q4 25
$1.07
$0.14
Q3 25
$0.97
$0.09
Q2 25
$0.86
$0.08
Q1 25
$1.03
$0.06
Q4 24
$1.35
$0.10
Q3 24
$1.37
$0.10
Q2 24
$1.44
$0.04
Q1 24
$1.36
$0.04

Balance Sheet & Financial Strength

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

Metric
IIPR
IIPR
VMD
VMD
Cash + ST InvestmentsLiquidity on hand
$47.6M
$13.5M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.8B
$141.5M
Total Assets
$2.4B
$199.2M
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
VMD
VMD
Q4 25
$47.6M
$13.5M
Q3 25
$41.9M
$11.1M
Q2 25
$104.9M
$20.0M
Q1 25
$133.3M
$10.2M
Q4 24
$151.2M
$17.5M
Q3 24
$172.4M
$11.3M
Q2 24
$160.9M
$8.8M
Q1 24
$173.5M
$7.3M
Total Debt
IIPR
IIPR
VMD
VMD
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
VMD
VMD
Q4 25
$1.8B
$141.5M
Q3 25
$1.9B
$133.6M
Q2 25
$1.9B
$139.7M
Q1 25
$1.9B
$134.8M
Q4 24
$1.9B
$131.4M
Q3 24
$1.9B
$125.0M
Q2 24
$1.9B
$119.4M
Q1 24
$2.0B
$116.3M
Total Assets
IIPR
IIPR
VMD
VMD
Q4 25
$2.4B
$199.2M
Q3 25
$2.3B
$202.4M
Q2 25
$2.3B
$184.6M
Q1 25
$2.4B
$178.1M
Q4 24
$2.4B
$177.1M
Q3 24
$2.4B
$169.5M
Q2 24
$2.4B
$163.9M
Q1 24
$2.4B
$154.9M
Debt / Equity
IIPR
IIPR
VMD
VMD
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
VMD
VMD
Operating Cash FlowLast quarter
$198.2M
$18.4M
Free Cash FlowOCF − Capex
$9.7M
FCF MarginFCF / Revenue
12.7%
Capex IntensityCapex / Revenue
11.5%
Cash ConversionOCF / Net Profit
6.22×
3.27×
TTM Free Cash FlowTrailing 4 quarters
$11.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
VMD
VMD
Q4 25
$198.2M
$18.4M
Q3 25
$45.6M
$18.4M
Q2 25
$48.4M
$12.3M
Q1 25
$54.2M
$2.9M
Q4 24
$258.4M
$15.0M
Q3 24
$64.9M
$12.7M
Q2 24
$64.2M
$10.2M
Q1 24
$71.6M
$1.2M
Free Cash Flow
IIPR
IIPR
VMD
VMD
Q4 25
$9.7M
Q3 25
$10.7M
Q2 25
$4.1M
Q1 25
$-12.6M
Q4 24
$3.2M
Q3 24
$1.7M
Q2 24
$1.2M
Q1 24
$-4.8M
FCF Margin
IIPR
IIPR
VMD
VMD
Q4 25
12.7%
Q3 25
14.9%
Q2 25
6.5%
Q1 25
-21.4%
Q4 24
5.2%
Q3 24
3.0%
Q2 24
2.3%
Q1 24
-9.5%
Capex Intensity
IIPR
IIPR
VMD
VMD
Q4 25
11.5%
Q3 25
10.6%
Q2 25
12.9%
Q1 25
26.2%
Q4 24
19.5%
Q3 24
19.0%
Q2 24
16.3%
Q1 24
11.9%
Cash Conversion
IIPR
IIPR
VMD
VMD
Q4 25
6.22×
3.27×
Q3 25
1.56×
5.23×
Q2 25
1.86×
3.88×
Q1 25
1.75×
1.09×
Q4 24
6.46×
3.47×
Q3 24
1.61×
3.29×
Q2 24
1.53×
6.94×
Q1 24
1.82×
0.73×

Financial Flow Comparison

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

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