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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and ZK International Group Co., Ltd. (ZKIN). Click either name above to swap in a different company.

ZK International Group Co., Ltd. is the larger business by last-quarter revenue ($108.2M vs $66.7M, roughly 1.6× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs -2.6%, a 50.3% gap on every dollar of revenue.

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. ...

ZK International Group Co., Ltd. is a China-based enterprise focused on the research, development, design, manufacturing and sale of high-quality stainless steel piping systems and fluid transport supporting products. Its offerings cater to construction, municipal infrastructure and residential engineering segments, with core markets spanning China and selected overseas regions.

IIPR vs ZKIN — Head-to-Head

Bigger by revenue
ZKIN
ZKIN
1.6× larger
ZKIN
$108.2M
$66.7M
IIPR
Higher net margin
IIPR
IIPR
50.3% more per $
IIPR
47.8%
-2.6%
ZKIN

Income Statement — Q4 FY2025 vs Q4 FY2024

Metric
IIPR
IIPR
ZKIN
ZKIN
Revenue
$66.7M
$108.2M
Net Profit
$31.8M
$-2.8M
Gross Margin
6.1%
Operating Margin
47.8%
-1.6%
Net Margin
47.8%
-2.6%
Revenue YoY
-13.1%
Net Profit YoY
-20.4%
EPS (diluted)
$1.07
$-0.57

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
ZKIN
ZKIN
Q4 25
$66.7M
Q3 25
$64.7M
Q2 25
$62.9M
Q1 25
$71.7M
Q4 24
$76.7M
Q3 24
$76.5M
$108.2M
Q2 24
$79.8M
Q1 24
$75.5M
Net Profit
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$31.8M
Q3 25
$29.3M
Q2 25
$26.0M
Q1 25
$31.1M
Q4 24
$40.0M
Q3 24
$40.2M
$-2.8M
Q2 24
$42.0M
Q1 24
$39.4M
Gross Margin
IIPR
IIPR
ZKIN
ZKIN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
6.1%
Q2 24
Q1 24
Operating Margin
IIPR
IIPR
ZKIN
ZKIN
Q4 25
47.8%
Q3 25
45.5%
Q2 25
45.9%
Q1 25
47.4%
Q4 24
54.7%
Q3 24
54.8%
-1.6%
Q2 24
53.1%
Q1 24
55.7%
Net Margin
IIPR
IIPR
ZKIN
ZKIN
Q4 25
47.8%
Q3 25
45.3%
Q2 25
41.4%
Q1 25
43.3%
Q4 24
52.2%
Q3 24
52.6%
-2.6%
Q2 24
52.6%
Q1 24
52.3%
EPS (diluted)
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$1.07
Q3 25
$0.97
Q2 25
$0.86
Q1 25
$1.03
Q4 24
$1.35
Q3 24
$1.37
$-0.57
Q2 24
$1.44
Q1 24
$1.36

Balance Sheet & Financial Strength

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

Metric
IIPR
IIPR
ZKIN
ZKIN
Cash + ST InvestmentsLiquidity on hand
$47.6M
$4.1M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.8B
$28.2M
Total Assets
$2.4B
$80.0M
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$47.6M
Q3 25
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$172.4M
$4.1M
Q2 24
$160.9M
Q1 24
$173.5M
Total Debt
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$1.8B
Q3 25
$1.9B
Q2 25
$1.9B
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.9B
$28.2M
Q2 24
$1.9B
Q1 24
$2.0B
Total Assets
IIPR
IIPR
ZKIN
ZKIN
Q4 25
$2.4B
Q3 25
$2.3B
Q2 25
$2.3B
Q1 25
$2.4B
Q4 24
$2.4B
Q3 24
$2.4B
$80.0M
Q2 24
$2.4B
Q1 24
$2.4B
Debt / Equity
IIPR
IIPR
ZKIN
ZKIN
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
ZKIN
ZKIN
Operating Cash FlowLast quarter
$198.2M
$-6.9M
Free Cash FlowOCF − Capex
$-7.5M
FCF MarginFCF / Revenue
-6.9%
Capex IntensityCapex / Revenue
0.6%
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
ZKIN
ZKIN
Q4 25
$198.2M
Q3 25
$45.6M
Q2 25
$48.4M
Q1 25
$54.2M
Q4 24
$258.4M
Q3 24
$64.9M
$-6.9M
Q2 24
$64.2M
Q1 24
$71.6M
Free Cash Flow
IIPR
IIPR
ZKIN
ZKIN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$-7.5M
Q2 24
Q1 24
FCF Margin
IIPR
IIPR
ZKIN
ZKIN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
-6.9%
Q2 24
Q1 24
Capex Intensity
IIPR
IIPR
ZKIN
ZKIN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
0.6%
Q2 24
Q1 24
Cash Conversion
IIPR
IIPR
ZKIN
ZKIN
Q4 25
6.22×
Q3 25
1.56×
Q2 25
1.86×
Q1 25
1.75×
Q4 24
6.46×
Q3 24
1.61×
Q2 24
1.53×
Q1 24
1.82×

Financial Flow Comparison

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

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