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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $113.9M, roughly 1.1× Industrial Logistics Properties Trust). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -1.6%, a 49.7% gap on every dollar of revenue. On growth, Industrial Logistics Properties Trust posted the faster year-over-year revenue change (3.1% vs -11.0%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-55.2M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -6.0%).
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.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
ILPT vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $120.6M |
| Net Profit | $-1.8M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | -22.1% | 57.3% |
| Net Margin | -1.6% | 48.1% |
| Revenue YoY | 3.1% | -11.0% |
| Net Profit YoY | 92.6% | 32.7% |
| EPS (diluted) | $-0.02 | $0.22 |
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 | $120.6M | ||
| Q3 25 | $110.9M | $116.4M | ||
| Q2 25 | $112.1M | $135.7M | ||
| Q1 25 | $111.9M | $128.3M | ||
| Q4 24 | $110.5M | $135.5M | ||
| Q3 24 | $108.9M | $127.5M | ||
| Q2 24 | $110.6M | $132.0M | ||
| Q1 24 | $112.2M | $136.4M |
| Q4 25 | $-1.8M | $58.0M | ||
| Q3 25 | $-21.6M | $-10.2M | ||
| Q2 25 | $-21.3M | $5.6M | ||
| Q1 25 | $-21.5M | $-29.6M | ||
| Q4 24 | $-24.1M | $43.7M | ||
| Q3 24 | $-25.0M | $-66.8M | ||
| Q2 24 | $-23.2M | $-48.3M | ||
| Q1 24 | $-23.4M | $37.7M |
| Q4 25 | -22.1% | 57.3% | ||
| Q3 25 | -29.4% | -6.2% | ||
| Q2 25 | -30.8% | 7.4% | ||
| Q1 25 | -26.9% | -26.9% | ||
| Q4 24 | -31.1% | 36.7% | ||
| Q3 24 | -33.5% | -60.8% | ||
| Q2 24 | -32.4% | -45.5% | ||
| Q1 24 | -31.7% | 47.2% |
| Q4 25 | -1.6% | 48.1% | ||
| Q3 25 | -19.4% | -8.8% | ||
| Q2 25 | -19.0% | 4.1% | ||
| Q1 25 | -19.2% | -23.1% | ||
| Q4 24 | -21.8% | 32.3% | ||
| Q3 24 | -22.9% | -52.4% | ||
| Q2 24 | -20.9% | -36.6% | ||
| Q1 24 | -20.9% | 27.6% |
| Q4 25 | $-0.02 | $0.22 | ||
| Q3 25 | $-0.33 | $-0.15 | ||
| Q2 25 | $-0.32 | $-0.05 | ||
| Q1 25 | $-0.33 | $-0.30 | ||
| Q4 24 | $-0.37 | $0.24 | ||
| Q3 24 | $-0.38 | $-0.56 | ||
| Q2 24 | $-0.35 | $-0.43 | ||
| Q1 24 | $-0.36 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $1.5B |
| Total Assets | $5.2B | $6.6B |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $184.5M | ||
| Q3 25 | $83.2M | $382.6M | ||
| Q2 25 | $58.6M | $309.1M | ||
| Q1 25 | $108.0M | $356.6M | ||
| Q4 24 | $131.7M | $217.5M | ||
| Q3 24 | $153.9M | $367.1M | ||
| Q2 24 | $146.2M | $366.5M | ||
| Q1 24 | $128.4M | $541.9M |
| 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 | $1.5B | ||
| Q3 25 | $494.1M | $1.5B | ||
| Q2 25 | $519.1M | $1.6B | ||
| Q1 25 | $539.5M | $1.6B | ||
| Q4 24 | $562.0M | $1.6B | ||
| Q3 24 | $585.9M | $1.6B | ||
| Q2 24 | $618.3M | $1.7B | ||
| Q1 24 | $643.2M | $1.7B |
| Q4 25 | $5.2B | $6.6B | ||
| Q3 25 | $5.2B | $6.7B | ||
| Q2 25 | $5.2B | $6.8B | ||
| Q1 25 | $5.4B | $7.2B | ||
| Q4 24 | $5.4B | $7.0B | ||
| Q3 24 | $5.5B | $7.4B | ||
| Q2 24 | $5.5B | $7.5B | ||
| Q1 24 | $5.5B | $7.7B |
| 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 | $11.4M |
| Free Cash FlowOCF − Capex | $42.0M | $-55.2M |
| FCF MarginFCF / Revenue | 36.9% | -45.8% |
| Capex IntensityCapex / Revenue | 16.4% | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $11.4M | ||
| Q3 25 | $22.7M | $-7.6M | ||
| Q2 25 | $18.4M | $42.0M | ||
| Q1 25 | $11.4M | $-51.9M | ||
| Q4 24 | $2.0M | $55.1M | ||
| Q3 24 | $-3.4M | $-5.6M | ||
| Q2 24 | $10.8M | $36.7M | ||
| Q1 24 | $8.0M | $-5.6M |
| Q4 25 | $42.0M | $-55.2M | ||
| Q3 25 | $17.6M | $-18.0M | ||
| Q2 25 | $15.2M | $29.4M | ||
| Q1 25 | $5.0M | $-59.7M | ||
| Q4 24 | $-3.7M | $-76.5M | ||
| Q3 24 | $-5.9M | $-27.7M | ||
| Q2 24 | $9.4M | $-500.0K | ||
| Q1 24 | $5.9M | $-57.1M |
| Q4 25 | 36.9% | -45.8% | ||
| Q3 25 | 15.9% | -15.5% | ||
| Q2 25 | 13.5% | 21.7% | ||
| Q1 25 | 4.5% | -46.5% | ||
| Q4 24 | -3.4% | -56.5% | ||
| Q3 24 | -5.5% | -21.7% | ||
| Q2 24 | 8.5% | -0.4% | ||
| Q1 24 | 5.2% | -41.9% |
| Q4 25 | 16.4% | 55.2% | ||
| Q3 25 | 4.6% | 8.9% | ||
| Q2 25 | 2.9% | 9.3% | ||
| Q1 25 | 5.7% | 6.1% | ||
| Q4 24 | 5.2% | 97.1% | ||
| Q3 24 | 2.3% | 17.3% | ||
| Q2 24 | 1.3% | 28.2% | ||
| Q1 24 | 1.9% | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
