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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $113.9M, roughly 1.2× Industrial Logistics Properties Trust). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -2.3%, a 0.7% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% 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.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
ILPT vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $140.7M |
| Net Profit | $-1.8M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | -22.1% | -1.6% |
| Net Margin | -1.6% | -2.3% |
| Revenue YoY | 3.1% | 9.1% |
| Net Profit YoY | 92.6% | 62.1% |
| EPS (diluted) | $-0.02 | $0.03 |
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 | $140.7M | ||
| Q3 25 | $110.9M | $118.8M | ||
| Q2 25 | $112.1M | $105.1M | ||
| Q1 25 | $111.9M | $104.2M | ||
| Q4 24 | $110.5M | $129.0M | ||
| Q3 24 | $108.9M | $118.6M | ||
| Q2 24 | $110.6M | $120.3M | ||
| Q1 24 | $112.2M | $120.0M |
| Q4 25 | $-1.8M | $-3.2M | ||
| Q3 25 | $-21.6M | $-11.7M | ||
| Q2 25 | $-21.3M | $-17.3M | ||
| Q1 25 | $-21.5M | $-19.1M | ||
| Q4 24 | $-24.1M | $-8.5M | ||
| Q3 24 | $-25.0M | $-39.2M | ||
| Q2 24 | $-23.2M | $27.0K | ||
| Q1 24 | $-23.4M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | -22.1% | -1.6% | ||
| Q3 25 | -29.4% | -10.2% | ||
| Q2 25 | -30.8% | -13.5% | ||
| Q1 25 | -26.9% | -13.9% | ||
| Q4 24 | -31.1% | -6.0% | ||
| Q3 24 | -33.5% | -39.5% | ||
| Q2 24 | -32.4% | -12.1% | ||
| Q1 24 | -31.7% | -19.3% |
| Q4 25 | -1.6% | -2.3% | ||
| Q3 25 | -19.4% | -9.9% | ||
| Q2 25 | -19.0% | -16.5% | ||
| Q1 25 | -19.2% | -18.4% | ||
| Q4 24 | -21.8% | -6.6% | ||
| Q3 24 | -22.9% | -33.1% | ||
| Q2 24 | -20.9% | 0.0% | ||
| Q1 24 | -20.9% | -41.8% |
| Q4 25 | $-0.02 | $0.03 | ||
| Q3 25 | $-0.33 | $0.11 | ||
| Q2 25 | $-0.32 | $0.16 | ||
| Q1 25 | $-0.33 | $0.18 | ||
| Q4 24 | $-0.37 | $0.08 | ||
| Q3 24 | $-0.38 | $0.36 | ||
| Q2 24 | $-0.35 | $0.00 | ||
| Q1 24 | $-0.36 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | $4.2B | $126.7M |
| Stockholders' EquityBook value | $489.7M | $-29.7M |
| Total Assets | $5.2B | $296.3M |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $24.3M | ||
| Q3 25 | $83.2M | $32.4M | ||
| Q2 25 | $58.6M | $34.2M | ||
| Q1 25 | $108.0M | $21.6M | ||
| Q4 24 | $131.7M | $29.0M | ||
| Q3 24 | $153.9M | $23.4M | ||
| Q2 24 | $146.2M | $23.4M | ||
| Q1 24 | $128.4M | $34.5M |
| Q4 25 | $4.2B | $126.7M | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | $70.7M | ||
| Q3 24 | $4.3B | $50.8M | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.3B | — |
| Q4 25 | $489.7M | $-29.7M | ||
| Q3 25 | $494.1M | $-26.9M | ||
| Q2 25 | $519.1M | $-15.6M | ||
| Q1 25 | $539.5M | $1.3M | ||
| Q4 24 | $562.0M | $20.2M | ||
| Q3 24 | $585.9M | $28.0M | ||
| Q2 24 | $618.3M | $66.4M | ||
| Q1 24 | $643.2M | $65.5M |
| Q4 25 | $5.2B | $296.3M | ||
| Q3 25 | $5.2B | $302.1M | ||
| Q2 25 | $5.2B | $303.8M | ||
| Q1 25 | $5.4B | $293.8M | ||
| Q4 24 | $5.4B | $307.8M | ||
| Q3 24 | $5.5B | $309.3M | ||
| Q2 24 | $5.5B | $362.1M | ||
| Q1 24 | $5.5B | $382.1M |
| Q4 25 | 8.56× | — | ||
| Q3 25 | 8.49× | — | ||
| Q2 25 | 8.09× | — | ||
| Q1 25 | 7.96× | — | ||
| Q4 24 | 7.65× | 3.50× | ||
| Q3 24 | 7.35× | 1.82× | ||
| 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 | $-5.8M |
| Free Cash FlowOCF − Capex | $42.0M | $-7.8M |
| FCF MarginFCF / Revenue | 36.9% | -5.5% |
| Capex IntensityCapex / Revenue | 16.4% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $-5.8M | ||
| Q3 25 | $22.7M | $-968.0K | ||
| Q2 25 | $18.4M | $-4.0M | ||
| Q1 25 | $11.4M | $-23.1M | ||
| Q4 24 | $2.0M | $6.8M | ||
| Q3 24 | $-3.4M | $1.1M | ||
| Q2 24 | $10.8M | $-8.9M | ||
| Q1 24 | $8.0M | $-16.8M |
| Q4 25 | $42.0M | $-7.8M | ||
| Q3 25 | $17.6M | $-1.8M | ||
| Q2 25 | $15.2M | $-7.0M | ||
| Q1 25 | $5.0M | $-25.3M | ||
| Q4 24 | $-3.7M | $5.7M | ||
| Q3 24 | $-5.9M | $101.0K | ||
| Q2 24 | $9.4M | $-11.0M | ||
| Q1 24 | $5.9M | $-19.9M |
| Q4 25 | 36.9% | -5.5% | ||
| Q3 25 | 15.9% | -1.5% | ||
| Q2 25 | 13.5% | -6.6% | ||
| Q1 25 | 4.5% | -24.3% | ||
| Q4 24 | -3.4% | 4.4% | ||
| Q3 24 | -5.5% | 0.1% | ||
| Q2 24 | 8.5% | -9.2% | ||
| Q1 24 | 5.2% | -16.5% |
| Q4 25 | 16.4% | 1.4% | ||
| Q3 25 | 4.6% | 0.7% | ||
| Q2 25 | 2.9% | 2.8% | ||
| Q1 25 | 5.7% | 2.2% | ||
| Q4 24 | 5.2% | 0.8% | ||
| Q3 24 | 2.3% | 0.9% | ||
| Q2 24 | 1.3% | 1.7% | ||
| Q1 24 | 1.9% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
