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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and MARINE PRODUCTS CORP (MPX). 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 $64.6M, roughly 1.8× MARINE PRODUCTS CORP). MARINE PRODUCTS CORP runs the higher net margin — 3.7% vs -1.6%, a 5.2% gap on every dollar of revenue. On growth, MARINE PRODUCTS CORP posted the faster year-over-year revenue change (35.0% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $4.1M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -3.5%).
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.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
ILPT vs MPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $64.6M |
| Net Profit | $-1.8M | $2.4M |
| Gross Margin | — | 19.6% |
| Operating Margin | -22.1% | 5.8% |
| Net Margin | -1.6% | 3.7% |
| Revenue YoY | 3.1% | 35.0% |
| Net Profit YoY | 92.6% | -44.6% |
| EPS (diluted) | $-0.02 | $0.07 |
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.
| Q4 25 | $113.9M | $64.6M | ||
| Q3 25 | $110.9M | $53.1M | ||
| Q2 25 | $112.1M | $67.7M | ||
| Q1 25 | $111.9M | $59.0M | ||
| Q4 24 | $110.5M | $47.8M | ||
| Q3 24 | $108.9M | $49.9M | ||
| Q2 24 | $110.6M | $69.5M | ||
| Q1 24 | $112.2M | $69.3M |
| Q4 25 | $-1.8M | $2.4M | ||
| Q3 25 | $-21.6M | $2.6M | ||
| Q2 25 | $-21.3M | $4.2M | ||
| Q1 25 | $-21.5M | $2.2M | ||
| Q4 24 | $-24.1M | $4.3M | ||
| Q3 24 | $-25.0M | $3.4M | ||
| Q2 24 | $-23.2M | $5.6M | ||
| Q1 24 | $-23.4M | $4.6M |
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.2% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 18.9% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | -22.1% | 5.8% | ||
| Q3 25 | -29.4% | 5.4% | ||
| Q2 25 | -30.8% | 7.1% | ||
| Q1 25 | -26.9% | 4.4% | ||
| Q4 24 | -31.1% | 7.7% | ||
| Q3 24 | -33.5% | 7.2% | ||
| Q2 24 | -32.4% | 8.3% | ||
| Q1 24 | -31.7% | 7.6% |
| Q4 25 | -1.6% | 3.7% | ||
| Q3 25 | -19.4% | 5.0% | ||
| Q2 25 | -19.0% | 6.1% | ||
| Q1 25 | -19.2% | 3.7% | ||
| Q4 24 | -21.8% | 8.9% | ||
| Q3 24 | -22.9% | 6.8% | ||
| Q2 24 | -20.9% | 8.0% | ||
| Q1 24 | -20.9% | 6.6% |
| Q4 25 | $-0.02 | $0.07 | ||
| Q3 25 | $-0.33 | $0.07 | ||
| Q2 25 | $-0.32 | $0.12 | ||
| Q1 25 | $-0.33 | $0.06 | ||
| Q4 24 | $-0.37 | $0.13 | ||
| Q3 24 | $-0.38 | $0.10 | ||
| Q2 24 | $-0.35 | $0.14 | ||
| Q1 24 | $-0.36 | $0.13 |
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 | — |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $125.0M |
| Total Assets | $5.2B | $147.2M |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | — | ||
| Q3 25 | $83.2M | — | ||
| Q2 25 | $58.6M | — | ||
| Q1 25 | $108.0M | — | ||
| Q4 24 | $131.7M | — | ||
| Q3 24 | $153.9M | — | ||
| Q2 24 | $146.2M | — | ||
| Q1 24 | $128.4M | — |
| 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 | $125.0M | ||
| Q3 25 | $494.1M | $126.3M | ||
| Q2 25 | $519.1M | $127.2M | ||
| Q1 25 | $539.5M | $126.4M | ||
| Q4 24 | $562.0M | $129.0M | ||
| Q3 24 | $585.9M | $128.8M | ||
| Q2 24 | $618.3M | $129.3M | ||
| Q1 24 | $643.2M | $151.4M |
| Q4 25 | $5.2B | $147.2M | ||
| Q3 25 | $5.2B | $179.5M | ||
| Q2 25 | $5.2B | $173.2M | ||
| Q1 25 | $5.4B | $182.9M | ||
| Q4 24 | $5.4B | $171.2M | ||
| Q3 24 | $5.5B | $176.3M | ||
| Q2 24 | $5.5B | $175.7M | ||
| Q1 24 | $5.5B | $204.0M |
| 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 | $4.7M |
| Free Cash FlowOCF − Capex | $42.0M | $4.1M |
| FCF MarginFCF / Revenue | 36.9% | 6.4% |
| Capex IntensityCapex / Revenue | 16.4% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $4.7M | ||
| Q3 25 | $22.7M | $2.6M | ||
| Q2 25 | $18.4M | $-1.6M | ||
| Q1 25 | $11.4M | $10.8M | ||
| Q4 24 | $2.0M | $4.6M | ||
| Q3 24 | $-3.4M | $5.1M | ||
| Q2 24 | $10.8M | $3.8M | ||
| Q1 24 | $8.0M | $15.9M |
| Q4 25 | $42.0M | $4.1M | ||
| Q3 25 | $17.6M | $2.1M | ||
| Q2 25 | $15.2M | $-2.0M | ||
| Q1 25 | $5.0M | $10.7M | ||
| Q4 24 | $-3.7M | $3.6M | ||
| Q3 24 | $-5.9M | $3.2M | ||
| Q2 24 | $9.4M | $3.0M | ||
| Q1 24 | $5.9M | $15.0M |
| Q4 25 | 36.9% | 6.4% | ||
| Q3 25 | 15.9% | 4.0% | ||
| Q2 25 | 13.5% | -3.0% | ||
| Q1 25 | 4.5% | 18.1% | ||
| Q4 24 | -3.4% | 7.6% | ||
| Q3 24 | -5.5% | 6.5% | ||
| Q2 24 | 8.5% | 4.4% | ||
| Q1 24 | 5.2% | 21.7% |
| Q4 25 | 16.4% | 0.9% | ||
| Q3 25 | 4.6% | 0.8% | ||
| Q2 25 | 2.9% | 0.6% | ||
| Q1 25 | 5.7% | 0.2% | ||
| Q4 24 | 5.2% | 2.1% | ||
| Q3 24 | 2.3% | 3.8% | ||
| Q2 24 | 1.3% | 1.1% | ||
| Q1 24 | 1.9% | 1.3% |
| Q4 25 | — | 2.00× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | -0.39× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 3.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
