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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $86.8M, roughly 1.3× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 0.7%).
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
ILPT vs IOVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $86.8M |
| Net Profit | $-1.8M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | -22.1% | -84.7% |
| Net Margin | -1.6% | — |
| Revenue YoY | 3.1% | 17.7% |
| Net Profit YoY | 92.6% | — |
| EPS (diluted) | $-0.02 | — |
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.
| Q4 25 | $113.9M | $86.8M | ||
| Q3 25 | $110.9M | $67.5M | ||
| Q2 25 | $112.1M | $60.0M | ||
| Q1 25 | $111.9M | $49.3M | ||
| Q4 24 | $110.5M | $73.7M | ||
| Q3 24 | $108.9M | $58.6M | ||
| Q2 24 | $110.6M | $31.1M | ||
| Q1 24 | $112.2M | $715.0K |
| Q4 25 | $-1.8M | — | ||
| Q3 25 | $-21.6M | $-91.3M | ||
| Q2 25 | $-21.3M | $-111.7M | ||
| Q1 25 | $-21.5M | $-116.2M | ||
| Q4 24 | $-24.1M | — | ||
| Q3 24 | $-25.0M | $-83.5M | ||
| Q2 24 | $-23.2M | $-97.1M | ||
| Q1 24 | $-23.4M | $-113.0M |
| Q4 25 | — | 67.4% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | — | 68.7% | ||
| Q3 24 | — | 46.2% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | — |
| Q4 25 | -22.1% | -84.7% | ||
| Q3 25 | -29.4% | -140.7% | ||
| Q2 25 | -30.8% | -189.8% | ||
| Q1 25 | -26.9% | -245.8% | ||
| Q4 24 | -31.1% | -117.5% | ||
| Q3 24 | -33.5% | -152.1% | ||
| Q2 24 | -32.4% | -327.6% | ||
| Q1 24 | -31.7% | -16464.6% |
| Q4 25 | -1.6% | — | ||
| Q3 25 | -19.4% | -135.3% | ||
| Q2 25 | -19.0% | -186.2% | ||
| Q1 25 | -19.2% | -235.5% | ||
| Q4 24 | -21.8% | — | ||
| Q3 24 | -22.9% | -142.7% | ||
| Q2 24 | -20.9% | -312.2% | ||
| Q1 24 | -20.9% | -15800.8% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.33 | — | ||
| Q2 25 | $-0.32 | $-0.33 | ||
| Q1 25 | $-0.33 | $-0.36 | ||
| Q4 24 | $-0.37 | $-0.24 | ||
| Q3 24 | $-0.38 | $-0.28 | ||
| Q2 24 | $-0.35 | $-0.34 | ||
| Q1 24 | $-0.36 | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $94.8M | $297.0M |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $698.6M |
| Total Assets | $5.2B | $913.2M |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $297.0M | ||
| Q3 25 | $83.2M | $300.8M | ||
| Q2 25 | $58.6M | $301.2M | ||
| Q1 25 | $108.0M | $359.7M | ||
| Q4 24 | $131.7M | $323.8M | ||
| Q3 24 | $153.9M | $397.5M | ||
| Q2 24 | $146.2M | $412.5M | ||
| Q1 24 | $128.4M | $356.2M |
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.3B | — |
| Q4 25 | $489.7M | $698.6M | ||
| Q3 25 | $494.1M | $702.3M | ||
| Q2 25 | $519.1M | $698.5M | ||
| Q1 25 | $539.5M | $767.9M | ||
| Q4 24 | $562.0M | $710.4M | ||
| Q3 24 | $585.9M | $773.5M | ||
| Q2 24 | $618.3M | $768.5M | ||
| Q1 24 | $643.2M | $680.0M |
| Q4 25 | $5.2B | $913.2M | ||
| Q3 25 | $5.2B | $904.9M | ||
| Q2 25 | $5.2B | $907.4M | ||
| Q1 25 | $5.4B | $966.7M | ||
| Q4 24 | $5.4B | $910.4M | ||
| Q3 24 | $5.5B | $991.1M | ||
| Q2 24 | $5.5B | $964.3M | ||
| Q1 24 | $5.5B | $869.8M |
| Q4 25 | 8.56× | — | ||
| Q3 25 | 8.49× | — | ||
| Q2 25 | 8.09× | — | ||
| Q1 25 | 7.96× | — | ||
| Q4 24 | 7.65× | — | ||
| Q3 24 | 7.35× | — | ||
| Q2 24 | 6.96× | — | ||
| Q1 24 | 6.70× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $60.7M | $-52.6M |
| Free Cash FlowOCF − Capex | $42.0M | $-61.9M |
| FCF MarginFCF / Revenue | 36.9% | -71.3% |
| Capex IntensityCapex / Revenue | 16.4% | 10.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $-52.6M | ||
| Q3 25 | $22.7M | $-78.7M | ||
| Q2 25 | $18.4M | $-67.4M | ||
| Q1 25 | $11.4M | $-103.7M | ||
| Q4 24 | $2.0M | $-73.3M | ||
| Q3 24 | $-3.4M | $-59.0M | ||
| Q2 24 | $10.8M | $-98.4M | ||
| Q1 24 | $8.0M | $-122.3M |
| Q4 25 | $42.0M | $-61.9M | ||
| Q3 25 | $17.6M | $-89.5M | ||
| Q2 25 | $15.2M | $-74.9M | ||
| Q1 25 | $5.0M | $-109.9M | ||
| Q4 24 | $-3.7M | $-77.5M | ||
| Q3 24 | $-5.9M | $-61.3M | ||
| Q2 24 | $9.4M | $-98.9M | ||
| Q1 24 | $5.9M | $-126.5M |
| Q4 25 | 36.9% | -71.3% | ||
| Q3 25 | 15.9% | -132.7% | ||
| Q2 25 | 13.5% | -124.9% | ||
| Q1 25 | 4.5% | -222.8% | ||
| Q4 24 | -3.4% | -105.1% | ||
| Q3 24 | -5.5% | -104.6% | ||
| Q2 24 | 8.5% | -317.9% | ||
| Q1 24 | 5.2% | -17685.3% |
| Q4 25 | 16.4% | 10.7% | ||
| Q3 25 | 4.6% | 16.1% | ||
| Q2 25 | 2.9% | 12.4% | ||
| Q1 25 | 5.7% | 12.6% | ||
| Q4 24 | 5.2% | 5.7% | ||
| Q3 24 | 2.3% | 3.9% | ||
| Q2 24 | 1.3% | 1.4% | ||
| Q1 24 | 1.9% | 583.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
