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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and NPK International Inc. (NPKI). 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 $75.2M, roughly 1.5× NPK International Inc.). On growth, NPK International Inc. posted the faster year-over-year revenue change (30.7% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $5.8M). Over the past eight quarters, NPK International Inc.'s revenue compounded faster (23.9% 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.
ILPT vs NPKI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $75.2M |
| Net Profit | $-1.8M | — |
| Gross Margin | — | 37.7% |
| Operating Margin | -22.1% | 16.7% |
| Net Margin | -1.6% | — |
| Revenue YoY | 3.1% | 30.7% |
| Net Profit YoY | 92.6% | — |
| EPS (diluted) | $-0.02 | $0.17 |
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 | $75.2M | ||
| Q3 25 | $110.9M | $68.8M | ||
| Q2 25 | $112.1M | $68.2M | ||
| Q1 25 | $111.9M | $64.8M | ||
| Q4 24 | $110.5M | $57.5M | ||
| Q3 24 | $108.9M | $44.2M | ||
| Q2 24 | $110.6M | $66.8M | ||
| Q1 24 | $112.2M | $49.0M |
| Q4 25 | $-1.8M | — | ||
| Q3 25 | $-21.6M | $5.7M | ||
| Q2 25 | $-21.3M | $8.7M | ||
| Q1 25 | $-21.5M | $10.0M | ||
| Q4 24 | $-24.1M | — | ||
| Q3 24 | $-25.0M | $-174.3M | ||
| Q2 24 | $-23.2M | $8.0M | ||
| Q1 24 | $-23.4M | $7.3M |
| Q4 25 | — | 37.7% | ||
| Q3 25 | — | 31.9% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 39.0% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 27.5% | ||
| Q2 24 | — | 37.2% | ||
| Q1 24 | — | 36.0% |
| Q4 25 | -22.1% | 16.7% | ||
| Q3 25 | -29.4% | 13.2% | ||
| Q2 25 | -30.8% | 17.0% | ||
| Q1 25 | -26.9% | 20.9% | ||
| Q4 24 | -31.1% | 20.2% | ||
| Q3 24 | -33.5% | 2.8% | ||
| Q2 24 | -32.4% | 18.7% | ||
| Q1 24 | -31.7% | 14.2% |
| Q4 25 | -1.6% | — | ||
| Q3 25 | -19.4% | 8.2% | ||
| Q2 25 | -19.0% | 12.7% | ||
| Q1 25 | -19.2% | 15.4% | ||
| Q4 24 | -21.8% | — | ||
| Q3 24 | -22.9% | -394.3% | ||
| Q2 24 | -20.9% | 12.0% | ||
| Q1 24 | -20.9% | 14.9% |
| Q4 25 | $-0.02 | $0.17 | ||
| Q3 25 | $-0.33 | $0.07 | ||
| Q2 25 | $-0.32 | $0.10 | ||
| Q1 25 | $-0.33 | $0.11 | ||
| Q4 24 | $-0.37 | $0.10 | ||
| Q3 24 | $-0.38 | $-1.99 | ||
| Q2 24 | $-0.35 | $0.09 | ||
| Q1 24 | $-0.36 | $0.08 |
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 | $5.1M |
| Total DebtLower is stronger | $4.2B | $16.9M |
| Stockholders' EquityBook value | $489.7M | $351.2M |
| Total Assets | $5.2B | $441.8M |
| Debt / EquityLower = less leverage | 8.56× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $5.1M | ||
| Q3 25 | $83.2M | $35.6M | ||
| Q2 25 | $58.6M | $26.0M | ||
| Q1 25 | $108.0M | $20.8M | ||
| Q4 24 | $131.7M | $17.8M | ||
| Q3 24 | $153.9M | $42.9M | ||
| Q2 24 | $146.2M | $35.1M | ||
| Q1 24 | $128.4M | $37.7M |
| Q4 25 | $4.2B | $16.9M | ||
| Q3 25 | $4.2B | $9.5M | ||
| Q2 25 | $4.2B | $9.3M | ||
| Q1 25 | $4.3B | $8.1M | ||
| Q4 24 | $4.3B | $7.7M | ||
| Q3 24 | $4.3B | $14.0M | ||
| Q2 24 | $4.3B | $58.0M | ||
| Q1 24 | $4.3B | $77.4M |
| Q4 25 | $489.7M | $351.2M | ||
| Q3 25 | $494.1M | $333.9M | ||
| Q2 25 | $519.1M | $328.8M | ||
| Q1 25 | $539.5M | $326.9M | ||
| Q4 24 | $562.0M | $326.5M | ||
| Q3 24 | $585.9M | $316.5M | ||
| Q2 24 | $618.3M | $426.6M | ||
| Q1 24 | $643.2M | $421.6M |
| Q4 25 | $5.2B | $441.8M | ||
| Q3 25 | $5.2B | $404.5M | ||
| Q2 25 | $5.2B | $393.7M | ||
| Q1 25 | $5.4B | $390.0M | ||
| Q4 24 | $5.4B | $393.7M | ||
| Q3 24 | $5.5B | $389.6M | ||
| Q2 24 | $5.5B | $624.8M | ||
| Q1 24 | $5.5B | $640.8M |
| Q4 25 | 8.56× | 0.05× | ||
| Q3 25 | 8.49× | 0.03× | ||
| Q2 25 | 8.09× | 0.03× | ||
| Q1 25 | 7.96× | 0.02× | ||
| Q4 24 | 7.65× | 0.02× | ||
| Q3 24 | 7.35× | 0.04× | ||
| Q2 24 | 6.96× | 0.14× | ||
| Q1 24 | 6.70× | 0.18× |
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 | $18.0M |
| Free Cash FlowOCF − Capex | $42.0M | $5.8M |
| FCF MarginFCF / Revenue | 36.9% | 7.6% |
| Capex IntensityCapex / Revenue | 16.4% | 16.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $26.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $18.0M | ||
| Q3 25 | $22.7M | $24.7M | ||
| Q2 25 | $18.4M | $21.4M | ||
| Q1 25 | $11.4M | $8.8M | ||
| Q4 24 | $2.0M | $-4.1M | ||
| Q3 24 | $-3.4M | $2.8M | ||
| Q2 24 | $10.8M | $27.6M | ||
| Q1 24 | $8.0M | $11.9M |
| Q4 25 | $42.0M | $5.8M | ||
| Q3 25 | $17.6M | $12.0M | ||
| Q2 25 | $15.2M | $9.7M | ||
| Q1 25 | $5.0M | $-1.2M | ||
| Q4 24 | $-3.7M | $-17.7M | ||
| Q3 24 | $-5.9M | $-6.7M | ||
| Q2 24 | $9.4M | $21.0M | ||
| Q1 24 | $5.9M | $-1.9M |
| Q4 25 | 36.9% | 7.6% | ||
| Q3 25 | 15.9% | 17.4% | ||
| Q2 25 | 13.5% | 14.3% | ||
| Q1 25 | 4.5% | -1.8% | ||
| Q4 24 | -3.4% | -30.8% | ||
| Q3 24 | -5.5% | -15.2% | ||
| Q2 24 | 8.5% | 31.4% | ||
| Q1 24 | 5.2% | -3.9% |
| Q4 25 | 16.4% | 16.3% | ||
| Q3 25 | 4.6% | 18.5% | ||
| Q2 25 | 2.9% | 17.1% | ||
| Q1 25 | 5.7% | 15.5% | ||
| Q4 24 | 5.2% | 23.6% | ||
| Q3 24 | 2.3% | 21.4% | ||
| Q2 24 | 1.3% | 9.9% | ||
| Q1 24 | 1.9% | 28.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.37× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.43× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
