vs
Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $113.9M, roughly 1.8× Industrial Logistics Properties Trust). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -1.6%, a 4.2% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% 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.
iRhythm Holdings is a digital healthcare company focused on cardiac care, developing and commercializing wearable ambulatory heart monitoring devices paired with AI-powered analytical tools. It primarily serves healthcare providers and patients across the United States, helping to detect undiagnosed arrhythmias such as atrial fibrillation through convenient long-term heart rhythm tracking that delivers actionable clinical insights.
ILPT vs IRTC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $208.9M |
| Net Profit | $-1.8M | $5.6M |
| Gross Margin | — | 70.9% |
| Operating Margin | -22.1% | 1.1% |
| Net Margin | -1.6% | 2.7% |
| Revenue YoY | 3.1% | 27.1% |
| Net Profit YoY | 92.6% | 518.5% |
| EPS (diluted) | $-0.02 | $0.18 |
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 | $208.9M | ||
| Q3 25 | $110.9M | $192.9M | ||
| Q2 25 | $112.1M | $186.7M | ||
| Q1 25 | $111.9M | $158.7M | ||
| Q4 24 | $110.5M | $164.3M | ||
| Q3 24 | $108.9M | $147.5M | ||
| Q2 24 | $110.6M | $148.0M | ||
| Q1 24 | $112.2M | $131.9M |
| Q4 25 | $-1.8M | $5.6M | ||
| Q3 25 | $-21.6M | $-5.2M | ||
| Q2 25 | $-21.3M | $-14.2M | ||
| Q1 25 | $-21.5M | $-30.7M | ||
| Q4 24 | $-24.1M | $-1.3M | ||
| Q3 24 | $-25.0M | $-46.2M | ||
| Q2 24 | $-23.2M | $-20.1M | ||
| Q1 24 | $-23.4M | $-45.7M |
| Q4 25 | — | 70.9% | ||
| Q3 25 | — | 71.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 68.8% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 68.8% | ||
| Q2 24 | — | 69.9% | ||
| Q1 24 | — | 66.3% |
| Q4 25 | -22.1% | 1.1% | ||
| Q3 25 | -29.4% | -4.4% | ||
| Q2 25 | -30.8% | -10.0% | ||
| Q1 25 | -26.9% | -20.5% | ||
| Q4 24 | -31.1% | -2.5% | ||
| Q3 24 | -33.5% | -34.1% | ||
| Q2 24 | -32.4% | -15.5% | ||
| Q1 24 | -31.7% | -28.9% |
| Q4 25 | -1.6% | 2.7% | ||
| Q3 25 | -19.4% | -2.7% | ||
| Q2 25 | -19.0% | -7.6% | ||
| Q1 25 | -19.2% | -19.3% | ||
| Q4 24 | -21.8% | -0.8% | ||
| Q3 24 | -22.9% | -31.3% | ||
| Q2 24 | -20.9% | -13.6% | ||
| Q1 24 | -20.9% | -34.6% |
| Q4 25 | $-0.02 | $0.18 | ||
| Q3 25 | $-0.33 | $-0.16 | ||
| Q2 25 | $-0.32 | $-0.44 | ||
| Q1 25 | $-0.33 | $-0.97 | ||
| Q4 24 | $-0.37 | $-0.03 | ||
| Q3 24 | $-0.38 | $-1.48 | ||
| Q2 24 | $-0.35 | $-0.65 | ||
| Q1 24 | $-0.36 | $-1.47 |
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 | $583.8M |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $152.7M |
| Total Assets | $5.2B | $1.0B |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $583.8M | ||
| Q3 25 | $83.2M | $565.2M | ||
| Q2 25 | $58.6M | $545.5M | ||
| Q1 25 | $108.0M | $520.6M | ||
| Q4 24 | $131.7M | $535.6M | ||
| Q3 24 | $153.9M | $522.0M | ||
| Q2 24 | $146.2M | $561.5M | ||
| Q1 24 | $128.4M | $569.1M |
| 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 | $152.7M | ||
| Q3 25 | $494.1M | $121.9M | ||
| Q2 25 | $519.1M | $103.7M | ||
| Q1 25 | $539.5M | $86.7M | ||
| Q4 24 | $562.0M | $90.9M | ||
| Q3 24 | $585.9M | $71.8M | ||
| Q2 24 | $618.3M | $99.2M | ||
| Q1 24 | $643.2M | $90.3M |
| Q4 25 | $5.2B | $1.0B | ||
| Q3 25 | $5.2B | $995.2M | ||
| Q2 25 | $5.2B | $964.0M | ||
| Q1 25 | $5.4B | $926.1M | ||
| Q4 24 | $5.4B | $931.4M | ||
| Q3 24 | $5.5B | $909.7M | ||
| Q2 24 | $5.5B | $919.2M | ||
| Q1 24 | $5.5B | $909.8M |
| 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 | $26.2M |
| Free Cash FlowOCF − Capex | $42.0M | $14.5M |
| FCF MarginFCF / Revenue | 36.9% | 6.9% |
| Capex IntensityCapex / Revenue | 16.4% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $26.2M | ||
| Q3 25 | $22.7M | $34.9M | ||
| Q2 25 | $18.4M | $27.7M | ||
| Q1 25 | $11.4M | $-7.9M | ||
| Q4 24 | $2.0M | $19.2M | ||
| Q3 24 | $-3.4M | $24.3M | ||
| Q2 24 | $10.8M | $11.8M | ||
| Q1 24 | $8.0M | $-52.0M |
| Q4 25 | $42.0M | $14.5M | ||
| Q3 25 | $17.6M | $20.1M | ||
| Q2 25 | $15.2M | $17.3M | ||
| Q1 25 | $5.0M | $-17.3M | ||
| Q4 24 | $-3.7M | $12.4M | ||
| Q3 24 | $-5.9M | $15.5M | ||
| Q2 24 | $9.4M | $3.4M | ||
| Q1 24 | $5.9M | $-61.8M |
| Q4 25 | 36.9% | 6.9% | ||
| Q3 25 | 15.9% | 10.4% | ||
| Q2 25 | 13.5% | 9.3% | ||
| Q1 25 | 4.5% | -10.9% | ||
| Q4 24 | -3.4% | 7.5% | ||
| Q3 24 | -5.5% | 10.5% | ||
| Q2 24 | 8.5% | 2.3% | ||
| Q1 24 | 5.2% | -46.8% |
| Q4 25 | 16.4% | 5.6% | ||
| Q3 25 | 4.6% | 7.7% | ||
| Q2 25 | 2.9% | 5.6% | ||
| Q1 25 | 5.7% | 5.9% | ||
| Q4 24 | 5.2% | 4.2% | ||
| Q3 24 | 2.3% | 6.0% | ||
| Q2 24 | 1.3% | 5.7% | ||
| Q1 24 | 1.9% | 7.4% |
| Q4 25 | — | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
