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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $113.9M, roughly 1.3× Industrial Logistics Properties Trust). CPI Card Group Inc. runs the higher net margin — 4.8% vs -1.6%, a 6.4% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $35.2M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% 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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
ILPT vs PMTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $153.1M |
| Net Profit | $-1.8M | $7.3M |
| Gross Margin | — | 31.5% |
| Operating Margin | -22.1% | 12.0% |
| Net Margin | -1.6% | 4.8% |
| Revenue YoY | 3.1% | 22.3% |
| Net Profit YoY | 92.6% | 8.5% |
| EPS (diluted) | $-0.02 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $110.9M | $138.0M | ||
| Q2 25 | $112.1M | $129.8M | ||
| Q1 25 | $111.9M | $122.8M | ||
| Q4 24 | $110.5M | $125.1M | ||
| Q3 24 | $108.9M | $124.8M | ||
| Q2 24 | $110.6M | $118.8M | ||
| Q1 24 | $112.2M | $111.9M |
| Q4 25 | $-1.8M | $7.3M | ||
| Q3 25 | $-21.6M | $2.3M | ||
| Q2 25 | $-21.3M | $518.0K | ||
| Q1 25 | $-21.5M | $4.8M | ||
| Q4 24 | $-24.1M | $6.8M | ||
| Q3 24 | $-25.0M | $1.3M | ||
| Q2 24 | $-23.2M | $6.0M | ||
| Q1 24 | $-23.4M | $5.5M |
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 37.1% |
| Q4 25 | -22.1% | 12.0% | ||
| Q3 25 | -29.4% | 9.4% | ||
| Q2 25 | -30.8% | 7.3% | ||
| Q1 25 | -26.9% | 11.5% | ||
| Q4 24 | -31.1% | 12.7% | ||
| Q3 24 | -33.5% | 14.3% | ||
| Q2 24 | -32.4% | 12.5% | ||
| Q1 24 | -31.7% | 12.6% |
| Q4 25 | -1.6% | 4.8% | ||
| Q3 25 | -19.4% | 1.7% | ||
| Q2 25 | -19.0% | 0.4% | ||
| Q1 25 | -19.2% | 3.9% | ||
| Q4 24 | -21.8% | 5.4% | ||
| Q3 24 | -22.9% | 1.0% | ||
| Q2 24 | -20.9% | 5.1% | ||
| Q1 24 | -20.9% | 4.9% |
| Q4 25 | $-0.02 | $0.62 | ||
| Q3 25 | $-0.33 | $0.19 | ||
| Q2 25 | $-0.32 | $0.04 | ||
| Q1 25 | $-0.33 | $0.40 | ||
| Q4 24 | $-0.37 | $0.56 | ||
| Q3 24 | $-0.38 | $0.11 | ||
| Q2 24 | $-0.35 | $0.51 | ||
| Q1 24 | $-0.36 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | $4.2B | $286.7M |
| Stockholders' EquityBook value | $489.7M | $-17.3M |
| Total Assets | $5.2B | $403.2M |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $21.7M | ||
| Q3 25 | $83.2M | $16.0M | ||
| Q2 25 | $58.6M | $17.1M | ||
| Q1 25 | $108.0M | $31.5M | ||
| Q4 24 | $131.7M | $33.5M | ||
| Q3 24 | $153.9M | $14.7M | ||
| Q2 24 | $146.2M | $7.5M | ||
| Q1 24 | $128.4M | $17.1M |
| Q4 25 | $4.2B | $286.7M | ||
| Q3 25 | $4.2B | $308.4M | ||
| Q2 25 | $4.2B | $310.9M | ||
| Q1 25 | $4.3B | $280.7M | ||
| Q4 24 | $4.3B | $280.4M | ||
| Q3 24 | $4.3B | $280.2M | ||
| Q2 24 | $4.3B | $269.7M | ||
| Q1 24 | $4.3B | $265.3M |
| Q4 25 | $489.7M | $-17.3M | ||
| Q3 25 | $494.1M | $-25.7M | ||
| Q2 25 | $519.1M | $-29.0M | ||
| Q1 25 | $539.5M | $-29.7M | ||
| Q4 24 | $562.0M | $-35.6M | ||
| Q3 24 | $585.9M | $-42.8M | ||
| Q2 24 | $618.3M | $-44.6M | ||
| Q1 24 | $643.2M | $-48.5M |
| Q4 25 | $5.2B | $403.2M | ||
| Q3 25 | $5.2B | $407.1M | ||
| Q2 25 | $5.2B | $399.8M | ||
| Q1 25 | $5.4B | $351.9M | ||
| Q4 24 | $5.4B | $349.7M | ||
| Q3 24 | $5.5B | $342.3M | ||
| Q2 24 | $5.5B | $321.4M | ||
| Q1 24 | $5.5B | $319.8M |
| 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 | $39.6M |
| Free Cash FlowOCF − Capex | $42.0M | $35.2M |
| FCF MarginFCF / Revenue | 36.9% | 23.0% |
| Capex IntensityCapex / Revenue | 16.4% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $39.6M | ||
| Q3 25 | $22.7M | $10.0M | ||
| Q2 25 | $18.4M | $4.3M | ||
| Q1 25 | $11.4M | $5.6M | ||
| Q4 24 | $2.0M | $26.7M | ||
| Q3 24 | $-3.4M | $12.5M | ||
| Q2 24 | $10.8M | $-4.8M | ||
| Q1 24 | $8.0M | $8.9M |
| Q4 25 | $42.0M | $35.2M | ||
| Q3 25 | $17.6M | $5.3M | ||
| Q2 25 | $15.2M | $533.0K | ||
| Q1 25 | $5.0M | $292.0K | ||
| Q4 24 | $-3.7M | $21.6M | ||
| Q3 24 | $-5.9M | $11.1M | ||
| Q2 24 | $9.4M | $-6.0M | ||
| Q1 24 | $5.9M | $7.4M |
| Q4 25 | 36.9% | 23.0% | ||
| Q3 25 | 15.9% | 3.8% | ||
| Q2 25 | 13.5% | 0.4% | ||
| Q1 25 | 4.5% | 0.2% | ||
| Q4 24 | -3.4% | 17.3% | ||
| Q3 24 | -5.5% | 8.9% | ||
| Q2 24 | 8.5% | -5.0% | ||
| Q1 24 | 5.2% | 6.6% |
| Q4 25 | 16.4% | 2.9% | ||
| Q3 25 | 4.6% | 3.4% | ||
| Q2 25 | 2.9% | 2.9% | ||
| Q1 25 | 5.7% | 4.3% | ||
| Q4 24 | 5.2% | 4.0% | ||
| Q3 24 | 2.3% | 1.2% | ||
| Q2 24 | 1.3% | 1.0% | ||
| Q1 24 | 1.9% | 1.3% |
| Q4 25 | — | 5.39× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | — | 8.39× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
