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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and ZEVRA THERAPEUTICS, INC. (ZVRA). 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 $34.1M, roughly 2.0× ZEVRA THERAPEUTICS, INC.). On growth, ZEVRA THERAPEUTICS, INC. posted the faster year-over-year revenue change (183.4% vs -13.1%). Over the past eight quarters, ZEVRA THERAPEUTICS, INC.'s revenue compounded faster (215.7% 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. ...

Zevra Therapeutics Inc. is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for patients with rare under-treated orphan diseases, with a primary focus on central nervous system and metabolic rare disorder segments. Its main target markets are North America and the European Union.

IIPR vs ZVRA — Head-to-Head

Bigger by revenue
IIPR
IIPR
2.0× larger
IIPR
$66.7M
$34.1M
ZVRA
Growing faster (revenue YoY)
ZVRA
ZVRA
+196.5% gap
ZVRA
183.4%
-13.1%
IIPR
Faster 2-yr revenue CAGR
ZVRA
ZVRA
Annualised
ZVRA
215.7%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
ZVRA
ZVRA
Revenue
$66.7M
$34.1M
Net Profit
$31.8M
Gross Margin
Operating Margin
47.8%
27.3%
Net Margin
47.8%
Revenue YoY
-13.1%
183.4%
Net Profit YoY
-20.4%
EPS (diluted)
$1.07

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
ZVRA
ZVRA
Q4 25
$66.7M
$34.1M
Q3 25
$64.7M
$26.1M
Q2 25
$62.9M
$25.9M
Q1 25
$71.7M
$20.4M
Q4 24
$76.7M
$12.0M
Q3 24
$76.5M
$3.7M
Q2 24
$79.8M
$4.4M
Q1 24
$75.5M
$3.4M
Net Profit
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$31.8M
Q3 25
$29.3M
$-544.0K
Q2 25
$26.0M
$74.7M
Q1 25
$31.1M
$-3.1M
Q4 24
$40.0M
Q3 24
$40.2M
$-33.2M
Q2 24
$42.0M
$-19.9M
Q1 24
$39.4M
$-16.6M
Operating Margin
IIPR
IIPR
ZVRA
ZVRA
Q4 25
47.8%
27.3%
Q3 25
45.5%
15.9%
Q2 25
45.9%
-274.5%
Q1 25
47.4%
-26.3%
Q4 24
54.7%
-128.0%
Q3 24
54.8%
-739.0%
Q2 24
53.1%
-534.8%
Q1 24
55.7%
-598.1%
Net Margin
IIPR
IIPR
ZVRA
ZVRA
Q4 25
47.8%
Q3 25
45.3%
-2.1%
Q2 25
41.4%
288.7%
Q1 25
43.3%
-15.2%
Q4 24
52.2%
Q3 24
52.6%
-899.2%
Q2 24
52.6%
-447.9%
Q1 24
52.3%
-485.3%
EPS (diluted)
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$1.07
Q3 25
$0.97
$-0.01
Q2 25
$0.86
$1.21
Q1 25
$1.03
Q4 24
$1.35
Q3 24
$1.37
$-0.69
Q2 24
$1.44
$-0.48
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
ZVRA
ZVRA
Cash + ST InvestmentsLiquidity on hand
$47.6M
$62.4M
Total DebtLower is stronger
$393.7M
$61.9M
Stockholders' EquityBook value
$1.8B
$154.7M
Total Assets
$2.4B
$284.7M
Debt / EquityLower = less leverage
0.21×
0.40×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$47.6M
$62.4M
Q3 25
$41.9M
$54.4M
Q2 25
$104.9M
$47.7M
Q1 25
$133.3M
$37.3M
Q4 24
$151.2M
$33.8M
Q3 24
$172.4M
$54.0M
Q2 24
$160.9M
$39.3M
Q1 24
$173.5M
$42.8M
Total Debt
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$393.7M
$61.9M
Q3 25
$61.3M
Q2 25
$60.7M
Q1 25
Q4 24
$59.5M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$1.8B
$154.7M
Q3 25
$1.9B
$133.2M
Q2 25
$1.9B
$117.2M
Q1 25
$1.9B
$41.0M
Q4 24
$1.9B
$39.7M
Q3 24
$1.9B
$69.8M
Q2 24
$1.9B
$32.5M
Q1 24
$2.0B
$48.8M
Total Assets
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$2.4B
$284.7M
Q3 25
$2.3B
$270.1M
Q2 25
$2.3B
$256.3M
Q1 25
$2.4B
$172.7M
Q4 24
$2.4B
$178.1M
Q3 24
$2.4B
$191.6M
Q2 24
$2.4B
$144.4M
Q1 24
$2.4B
$151.3M
Debt / Equity
IIPR
IIPR
ZVRA
ZVRA
Q4 25
0.21×
0.40×
Q3 25
0.46×
Q2 25
0.52×
Q1 25
Q4 24
1.50×
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
ZVRA
ZVRA
Operating Cash FlowLast quarter
$198.2M
$5.5M
Free Cash FlowOCF − Capex
$5.5M
FCF MarginFCF / Revenue
16.1%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters
$-2.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$198.2M
$5.5M
Q3 25
$45.6M
$4.7M
Q2 25
$48.4M
$-3.6M
Q1 25
$54.2M
$-8.2M
Q4 24
$258.4M
$-16.3M
Q3 24
$64.9M
$-18.1M
Q2 24
$64.2M
$-19.1M
Q1 24
$71.6M
$-16.2M
Free Cash Flow
IIPR
IIPR
ZVRA
ZVRA
Q4 25
$5.5M
Q3 25
$4.2M
Q2 25
$-3.8M
Q1 25
$-8.3M
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
IIPR
IIPR
ZVRA
ZVRA
Q4 25
16.1%
Q3 25
15.9%
Q2 25
-14.7%
Q1 25
-40.8%
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
IIPR
IIPR
ZVRA
ZVRA
Q4 25
0.1%
Q3 25
2.1%
Q2 25
0.8%
Q1 25
0.5%
Q4 24
0.0%
Q3 24
0.0%
Q2 24
0.0%
Q1 24
0.0%
Cash Conversion
IIPR
IIPR
ZVRA
ZVRA
Q4 25
6.22×
Q3 25
1.56×
Q2 25
1.86×
-0.05×
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.

Revenue Breakdown by Segment

IIPR
IIPR

Segment breakdown not available.

ZVRA
ZVRA

MIPLYFFA$26.4M77%
Arimoclomol Purchase Agreement$5.7M17%
Other$2.0M6%

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