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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and Shutterstock, Inc. (SSTK). Click either name above to swap in a different company.

Shutterstock, Inc. is the larger business by last-quarter revenue ($220.2M vs $113.9M, roughly 1.9× Industrial Logistics Properties Trust). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -7.3%, a 5.7% gap on every dollar of revenue. On growth, Industrial Logistics Properties Trust posted the faster year-over-year revenue change (3.1% vs -12.0%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $25.9M). Over the past eight quarters, Shutterstock, Inc.'s revenue compounded faster (1.4% 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.

Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools; it is headquartered in New York. Founded in 2002 by programmer and photographer Jon Oringer, Shutterstock maintains a library of around 200 million royalty-free stock photos, vector graphics, and illustrations, with around 10 million video clips and music tracks available for licensing. Originally a subscription site only, Shutterstock expanded beyond subscriptions into à la carte p...

ILPT vs SSTK — Head-to-Head

Bigger by revenue
SSTK
SSTK
1.9× larger
SSTK
$220.2M
$113.9M
ILPT
Growing faster (revenue YoY)
ILPT
ILPT
+15.1% gap
ILPT
3.1%
-12.0%
SSTK
Higher net margin
ILPT
ILPT
5.7% more per $
ILPT
-1.6%
-7.3%
SSTK
More free cash flow
ILPT
ILPT
$16.1M more FCF
ILPT
$42.0M
$25.9M
SSTK
Faster 2-yr revenue CAGR
SSTK
SSTK
Annualised
SSTK
1.4%
0.7%
ILPT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ILPT
ILPT
SSTK
SSTK
Revenue
$113.9M
$220.2M
Net Profit
$-1.8M
$-16.0M
Gross Margin
55.8%
Operating Margin
-22.1%
-1.1%
Net Margin
-1.6%
-7.3%
Revenue YoY
3.1%
-12.0%
Net Profit YoY
92.6%
-1021.0%
EPS (diluted)
$-0.02
$-0.47

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.

Revenue
ILPT
ILPT
SSTK
SSTK
Q4 25
$113.9M
$220.2M
Q3 25
$110.9M
$260.1M
Q2 25
$112.1M
$267.0M
Q1 25
$111.9M
$242.6M
Q4 24
$110.5M
$250.3M
Q3 24
$108.9M
$250.6M
Q2 24
$110.6M
$220.1M
Q1 24
$112.2M
$214.3M
Net Profit
ILPT
ILPT
SSTK
SSTK
Q4 25
$-1.8M
$-16.0M
Q3 25
$-21.6M
$13.4M
Q2 25
$-21.3M
$29.4M
Q1 25
$-21.5M
$18.7M
Q4 24
$-24.1M
$-1.4M
Q3 24
$-25.0M
$17.6M
Q2 24
$-23.2M
$3.6M
Q1 24
$-23.4M
$16.1M
Gross Margin
ILPT
ILPT
SSTK
SSTK
Q4 25
55.8%
Q3 25
60.6%
Q2 25
60.3%
Q1 25
58.4%
Q4 24
55.1%
Q3 24
58.3%
Q2 24
58.5%
Q1 24
58.8%
Operating Margin
ILPT
ILPT
SSTK
SSTK
Q4 25
-22.1%
-1.1%
Q3 25
-29.4%
12.5%
Q2 25
-30.8%
13.0%
Q1 25
-26.9%
4.2%
Q4 24
-31.1%
5.3%
Q3 24
-33.5%
7.2%
Q2 24
-32.4%
9.4%
Q1 24
-31.7%
7.8%
Net Margin
ILPT
ILPT
SSTK
SSTK
Q4 25
-1.6%
-7.3%
Q3 25
-19.4%
5.1%
Q2 25
-19.0%
11.0%
Q1 25
-19.2%
7.7%
Q4 24
-21.8%
-0.6%
Q3 24
-22.9%
7.0%
Q2 24
-20.9%
1.6%
Q1 24
-20.9%
7.5%
EPS (diluted)
ILPT
ILPT
SSTK
SSTK
Q4 25
$-0.02
$-0.47
Q3 25
$-0.33
$0.37
Q2 25
$-0.32
$0.82
Q1 25
$-0.33
$0.53
Q4 24
$-0.37
$-0.04
Q3 24
$-0.38
$0.50
Q2 24
$-0.35
$0.10
Q1 24
$-0.36
$0.45

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ILPT
ILPT
SSTK
SSTK
Cash + ST InvestmentsLiquidity on hand
$94.8M
$178.2M
Total DebtLower is stronger
$4.2B
Stockholders' EquityBook value
$489.7M
$581.0M
Total Assets
$5.2B
$1.4B
Debt / EquityLower = less leverage
8.56×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ILPT
ILPT
SSTK
SSTK
Q4 25
$94.8M
$178.2M
Q3 25
$83.2M
$165.5M
Q2 25
$58.6M
$116.4M
Q1 25
$108.0M
$112.2M
Q4 24
$131.7M
$111.3M
Q3 24
$153.9M
$131.4M
Q2 24
$146.2M
$74.9M
Q1 24
$128.4M
$71.8M
Total Debt
ILPT
ILPT
SSTK
SSTK
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
Stockholders' Equity
ILPT
ILPT
SSTK
SSTK
Q4 25
$489.7M
$581.0M
Q3 25
$494.1M
$594.4M
Q2 25
$519.1M
$586.2M
Q1 25
$539.5M
$547.2M
Q4 24
$562.0M
$518.4M
Q3 24
$585.9M
$522.9M
Q2 24
$618.3M
$520.4M
Q1 24
$643.2M
$541.3M
Total Assets
ILPT
ILPT
SSTK
SSTK
Q4 25
$5.2B
$1.4B
Q3 25
$5.2B
$1.4B
Q2 25
$5.2B
$1.4B
Q1 25
$5.4B
$1.3B
Q4 24
$5.4B
$1.3B
Q3 24
$5.5B
$1.3B
Q2 24
$5.5B
$1.0B
Q1 24
$5.5B
$1.0B
Debt / Equity
ILPT
ILPT
SSTK
SSTK
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
ILPT
ILPT
SSTK
SSTK
Operating Cash FlowLast quarter
$60.7M
$36.2M
Free Cash FlowOCF − Capex
$42.0M
$25.9M
FCF MarginFCF / Revenue
36.9%
11.8%
Capex IntensityCapex / Revenue
16.4%
4.7%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$79.8M
$123.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ILPT
ILPT
SSTK
SSTK
Q4 25
$60.7M
$36.2M
Q3 25
$22.7M
$78.4M
Q2 25
$18.4M
$26.8M
Q1 25
$11.4M
$25.2M
Q4 24
$2.0M
$8.0M
Q3 24
$-3.4M
$-11.6M
Q2 24
$10.8M
$28.0M
Q1 24
$8.0M
$8.3M
Free Cash Flow
ILPT
ILPT
SSTK
SSTK
Q4 25
$42.0M
$25.9M
Q3 25
$17.6M
$68.0M
Q2 25
$15.2M
$15.5M
Q1 25
$5.0M
$14.4M
Q4 24
$-3.7M
$-952.0K
Q3 24
$-5.9M
$-26.3M
Q2 24
$9.4M
$18.9M
Q1 24
$5.9M
$-6.2M
FCF Margin
ILPT
ILPT
SSTK
SSTK
Q4 25
36.9%
11.8%
Q3 25
15.9%
26.1%
Q2 25
13.5%
5.8%
Q1 25
4.5%
6.0%
Q4 24
-3.4%
-0.4%
Q3 24
-5.5%
-10.5%
Q2 24
8.5%
8.6%
Q1 24
5.2%
-2.9%
Capex Intensity
ILPT
ILPT
SSTK
SSTK
Q4 25
16.4%
4.7%
Q3 25
4.6%
4.0%
Q2 25
2.9%
4.2%
Q1 25
5.7%
4.5%
Q4 24
5.2%
3.6%
Q3 24
2.3%
5.9%
Q2 24
1.3%
4.1%
Q1 24
1.9%
6.7%
Cash Conversion
ILPT
ILPT
SSTK
SSTK
Q4 25
Q3 25
5.86×
Q2 25
0.91×
Q1 25
1.35×
Q4 24
Q3 24
-0.66×
Q2 24
7.71×
Q1 24
0.51×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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