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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). 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 $103.6M, roughly 1.1× TACTILE SYSTEMS TECHNOLOGY INC). TACTILE SYSTEMS TECHNOLOGY INC runs the higher net margin — 10.3% vs -1.6%, a 11.8% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $16.8M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% 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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
ILPT vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $103.6M |
| Net Profit | $-1.8M | $10.6M |
| Gross Margin | — | 78.2% |
| Operating Margin | -22.1% | 18.1% |
| Net Margin | -1.6% | 10.3% |
| Revenue YoY | 3.1% | 21.0% |
| Net Profit YoY | 92.6% | 9.4% |
| EPS (diluted) | $-0.02 | $0.45 |
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 | $103.6M | ||
| Q3 25 | $110.9M | $85.8M | ||
| Q2 25 | $112.1M | $78.9M | ||
| Q1 25 | $111.9M | $61.3M | ||
| Q4 24 | $110.5M | $85.6M | ||
| Q3 24 | $108.9M | $73.1M | ||
| Q2 24 | $110.6M | $73.2M | ||
| Q1 24 | $112.2M | $61.1M |
| Q4 25 | $-1.8M | $10.6M | ||
| Q3 25 | $-21.6M | $8.2M | ||
| Q2 25 | $-21.3M | $3.2M | ||
| Q1 25 | $-21.5M | $-3.0M | ||
| Q4 24 | $-24.1M | $9.7M | ||
| Q3 24 | $-25.0M | $5.2M | ||
| Q2 24 | $-23.2M | $4.3M | ||
| Q1 24 | $-23.4M | $-2.2M |
| Q4 25 | — | 78.2% | ||
| Q3 25 | — | 75.8% | ||
| Q2 25 | — | 74.5% | ||
| Q1 25 | — | 74.0% | ||
| Q4 24 | — | 75.2% | ||
| Q3 24 | — | 75.0% | ||
| Q2 24 | — | 73.9% | ||
| Q1 24 | — | 71.1% |
| Q4 25 | -22.1% | 18.1% | ||
| Q3 25 | -29.4% | 12.8% | ||
| Q2 25 | -30.8% | 5.2% | ||
| Q1 25 | -26.9% | -7.4% | ||
| Q4 24 | -31.1% | 14.6% | ||
| Q3 24 | -33.5% | 9.3% | ||
| Q2 24 | -32.4% | 8.0% | ||
| Q1 24 | -31.7% | -4.9% |
| Q4 25 | -1.6% | 10.3% | ||
| Q3 25 | -19.4% | 9.6% | ||
| Q2 25 | -19.0% | 4.1% | ||
| Q1 25 | -19.2% | -4.9% | ||
| Q4 24 | -21.8% | 11.4% | ||
| Q3 24 | -22.9% | 7.1% | ||
| Q2 24 | -20.9% | 5.9% | ||
| Q1 24 | -20.9% | -3.6% |
| Q4 25 | $-0.02 | $0.45 | ||
| Q3 25 | $-0.33 | $0.36 | ||
| Q2 25 | $-0.32 | $0.14 | ||
| Q1 25 | $-0.33 | $-0.13 | ||
| Q4 24 | $-0.37 | $0.40 | ||
| Q3 24 | $-0.38 | $0.21 | ||
| Q2 24 | $-0.35 | $0.18 | ||
| Q1 24 | $-0.36 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | $4.2B | $0 |
| Stockholders' EquityBook value | $489.7M | $218.9M |
| Total Assets | $5.2B | $273.9M |
| Debt / EquityLower = less leverage | 8.56× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $83.4M | ||
| Q3 25 | $83.2M | $66.0M | ||
| Q2 25 | $58.6M | $81.5M | ||
| Q1 25 | $108.0M | $83.6M | ||
| Q4 24 | $131.7M | $94.4M | ||
| Q3 24 | $153.9M | $82.1M | ||
| Q2 24 | $146.2M | $73.6M | ||
| Q1 24 | $128.4M | $60.7M |
| Q4 25 | $4.2B | $0 | ||
| Q3 25 | $4.2B | $0 | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | $27.0M | ||
| Q2 24 | $4.3B | $27.8M | ||
| Q1 24 | $4.3B | $28.5M |
| Q4 25 | $489.7M | $218.9M | ||
| Q3 25 | $494.1M | $204.9M | ||
| Q2 25 | $519.1M | $194.9M | ||
| Q1 25 | $539.5M | $205.6M | ||
| Q4 24 | $562.0M | $216.6M | ||
| Q3 24 | $585.9M | $207.9M | ||
| Q2 24 | $618.3M | $200.7M | ||
| Q1 24 | $643.2M | $193.5M |
| Q4 25 | $5.2B | $273.9M | ||
| Q3 25 | $5.2B | $259.2M | ||
| Q2 25 | $5.2B | $273.0M | ||
| Q1 25 | $5.4B | $280.2M | ||
| Q4 24 | $5.4B | $297.9M | ||
| Q3 24 | $5.5B | $287.7M | ||
| Q2 24 | $5.5B | $278.8M | ||
| Q1 24 | $5.5B | $272.0M |
| Q4 25 | 8.56× | 0.00× | ||
| Q3 25 | 8.49× | 0.00× | ||
| Q2 25 | 8.09× | — | ||
| Q1 25 | 7.96× | — | ||
| Q4 24 | 7.65× | — | ||
| Q3 24 | 7.35× | 0.13× | ||
| Q2 24 | 6.96× | 0.14× | ||
| Q1 24 | 6.70× | 0.15× |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $42.0M | $16.8M |
| FCF MarginFCF / Revenue | 36.9% | 16.2% |
| Capex IntensityCapex / Revenue | 16.4% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $17.3M | ||
| Q3 25 | $22.7M | $10.3M | ||
| Q2 25 | $18.4M | $14.8M | ||
| Q1 25 | $11.4M | $417.0K | ||
| Q4 24 | $2.0M | $16.3M | ||
| Q3 24 | $-3.4M | $10.3M | ||
| Q2 24 | $10.8M | $13.1M | ||
| Q1 24 | $8.0M | $924.0K |
| Q4 25 | $42.0M | $16.8M | ||
| Q3 25 | $17.6M | $9.2M | ||
| Q2 25 | $15.2M | $14.4M | ||
| Q1 25 | $5.0M | $38.0K | ||
| Q4 24 | $-3.7M | $15.9M | ||
| Q3 24 | $-5.9M | $9.3M | ||
| Q2 24 | $9.4M | $12.6M | ||
| Q1 24 | $5.9M | $442.0K |
| Q4 25 | 36.9% | 16.2% | ||
| Q3 25 | 15.9% | 10.8% | ||
| Q2 25 | 13.5% | 18.2% | ||
| Q1 25 | 4.5% | 0.1% | ||
| Q4 24 | -3.4% | 18.5% | ||
| Q3 24 | -5.5% | 12.7% | ||
| Q2 24 | 8.5% | 17.3% | ||
| Q1 24 | 5.2% | 0.7% |
| Q4 25 | 16.4% | 0.5% | ||
| Q3 25 | 4.6% | 1.3% | ||
| Q2 25 | 2.9% | 0.5% | ||
| Q1 25 | 5.7% | 0.6% | ||
| Q4 24 | 5.2% | 0.5% | ||
| Q3 24 | 2.3% | 1.3% | ||
| Q2 24 | 1.3% | 0.7% | ||
| Q1 24 | 1.9% | 0.8% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | — | 4.59× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | — | 3.06× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
