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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and RING ENERGY, INC. (REI). 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 $66.9M, roughly 1.7× RING ENERGY, INC.). On growth, Industrial Logistics Properties Trust posted the faster year-over-year revenue change (3.1% vs -19.8%). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -15.9%).
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.
Siemens Energy AG is a German publicly traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa.
ILPT vs REI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $66.9M |
| Net Profit | $-1.8M | — |
| Gross Margin | — | — |
| Operating Margin | -22.1% | -37.6% |
| Net Margin | -1.6% | — |
| Revenue YoY | 3.1% | -19.8% |
| Net Profit YoY | 92.6% | — |
| 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 | $66.9M | ||
| Q3 25 | $110.9M | $78.6M | ||
| Q2 25 | $112.1M | $82.6M | ||
| Q1 25 | $111.9M | $79.1M | ||
| Q4 24 | $110.5M | $83.4M | ||
| Q3 24 | $108.9M | $89.2M | ||
| Q2 24 | $110.6M | $99.1M | ||
| Q1 24 | $112.2M | $94.5M |
| Q4 25 | $-1.8M | — | ||
| Q3 25 | $-21.6M | $-51.6M | ||
| Q2 25 | $-21.3M | $20.6M | ||
| Q1 25 | $-21.5M | $9.1M | ||
| Q4 24 | $-24.1M | — | ||
| Q3 24 | $-25.0M | $33.9M | ||
| Q2 24 | $-23.2M | $22.4M | ||
| Q1 24 | $-23.4M | $5.5M |
| Q4 25 | -22.1% | -37.6% | ||
| Q3 25 | -29.4% | -70.0% | ||
| Q2 25 | -30.8% | 28.4% | ||
| Q1 25 | -26.9% | 28.3% | ||
| Q4 24 | -31.1% | 28.3% | ||
| Q3 24 | -33.5% | 33.4% | ||
| Q2 24 | -32.4% | 42.2% | ||
| Q1 24 | -31.7% | 39.8% |
| Q4 25 | -1.6% | — | ||
| Q3 25 | -19.4% | -65.7% | ||
| Q2 25 | -19.0% | 25.0% | ||
| Q1 25 | -19.2% | 11.5% | ||
| Q4 24 | -21.8% | — | ||
| Q3 24 | -22.9% | 38.0% | ||
| Q2 24 | -20.9% | 22.6% | ||
| Q1 24 | -20.9% | 5.8% |
| Q4 25 | $-0.02 | $-0.07 | ||
| Q3 25 | $-0.33 | $-0.25 | ||
| Q2 25 | $-0.32 | $0.10 | ||
| Q1 25 | $-0.33 | $0.05 | ||
| Q4 24 | $-0.37 | $0.03 | ||
| Q3 24 | $-0.38 | $0.17 | ||
| Q2 24 | $-0.35 | $0.11 | ||
| Q1 24 | $-0.36 | $0.03 |
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 | $902.9K |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $836.3M |
| Total Assets | $5.2B | $1.4B |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $902.9K | ||
| Q3 25 | $83.2M | $286.9K | ||
| Q2 25 | $58.6M | — | ||
| Q1 25 | $108.0M | $1.1M | ||
| Q4 24 | $131.7M | $1.9M | ||
| Q3 24 | $153.9M | — | ||
| Q2 24 | $146.2M | $1.2M | ||
| Q1 24 | $128.4M | $1.4M |
| 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 | $836.3M | ||
| Q3 25 | $494.1M | $847.7M | ||
| Q2 25 | $519.1M | $897.9M | ||
| Q1 25 | $539.5M | $876.0M | ||
| Q4 24 | $562.0M | $858.6M | ||
| Q3 24 | $585.9M | $851.3M | ||
| Q2 24 | $618.3M | $817.4M | ||
| Q1 24 | $643.2M | $793.0M |
| Q4 25 | $5.2B | $1.4B | ||
| Q3 25 | $5.2B | $1.4B | ||
| Q2 25 | $5.2B | $1.5B | ||
| Q1 25 | $5.4B | $1.5B | ||
| Q4 24 | $5.4B | $1.4B | ||
| Q3 24 | $5.5B | $1.4B | ||
| Q2 24 | $5.5B | $1.4B | ||
| Q1 24 | $5.5B | $1.4B |
| 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 | $44.7M |
| Free Cash FlowOCF − Capex | $42.0M | — |
| FCF MarginFCF / Revenue | 36.9% | — |
| Capex IntensityCapex / Revenue | 16.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $44.7M | ||
| Q3 25 | $22.7M | $44.5M | ||
| Q2 25 | $18.4M | $33.3M | ||
| Q1 25 | $11.4M | $28.4M | ||
| Q4 24 | $2.0M | $47.3M | ||
| Q3 24 | $-3.4M | $51.3M | ||
| Q2 24 | $10.8M | $50.6M | ||
| Q1 24 | $8.0M | $45.2M |
| Q4 25 | $42.0M | — | ||
| Q3 25 | $17.6M | — | ||
| Q2 25 | $15.2M | — | ||
| Q1 25 | $5.0M | — | ||
| Q4 24 | $-3.7M | — | ||
| Q3 24 | $-5.9M | — | ||
| Q2 24 | $9.4M | — | ||
| Q1 24 | $5.9M | — |
| Q4 25 | 36.9% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 13.5% | — | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | -3.4% | — | ||
| Q3 24 | -5.5% | — | ||
| Q2 24 | 8.5% | — | ||
| Q1 24 | 5.2% | — |
| Q4 25 | 16.4% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.61× | ||
| Q1 25 | — | 3.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 2.26× | ||
| Q1 24 | — | 8.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
