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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and Twin Hospitality Group Inc. (TWNP). 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 $82.3M, roughly 1.4× Twin Hospitality Group Inc.). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -29.7%, a 28.2% gap on every dollar of revenue. Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-7.4M).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
ILPT vs TWNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $82.3M |
| Net Profit | $-1.8M | $-24.5M |
| Gross Margin | — | — |
| Operating Margin | -22.1% | -16.2% |
| Net Margin | -1.6% | -29.7% |
| Revenue YoY | 3.1% | — |
| Net Profit YoY | 92.6% | — |
| EPS (diluted) | $-0.02 | $-0.43 |
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 | — | ||
| Q3 25 | $110.9M | $82.3M | ||
| Q2 25 | $112.1M | $87.8M | ||
| Q1 25 | $111.9M | $87.1M | ||
| Q4 24 | $110.5M | — | ||
| Q3 24 | $108.9M | — | ||
| Q2 24 | $110.6M | — | ||
| Q1 24 | $112.2M | — |
| Q4 25 | $-1.8M | — | ||
| Q3 25 | $-21.6M | $-24.5M | ||
| Q2 25 | $-21.3M | $-20.8M | ||
| Q1 25 | $-21.5M | $-12.1M | ||
| Q4 24 | $-24.1M | — | ||
| Q3 24 | $-25.0M | — | ||
| Q2 24 | $-23.2M | — | ||
| Q1 24 | $-23.4M | — |
| Q4 25 | -22.1% | — | ||
| Q3 25 | -29.4% | -16.2% | ||
| Q2 25 | -30.8% | -13.2% | ||
| Q1 25 | -26.9% | -1.2% | ||
| Q4 24 | -31.1% | — | ||
| Q3 24 | -33.5% | — | ||
| Q2 24 | -32.4% | — | ||
| Q1 24 | -31.7% | — |
| Q4 25 | -1.6% | — | ||
| Q3 25 | -19.4% | -29.7% | ||
| Q2 25 | -19.0% | -23.7% | ||
| Q1 25 | -19.2% | -13.9% | ||
| Q4 24 | -21.8% | — | ||
| Q3 24 | -22.9% | — | ||
| Q2 24 | -20.9% | — | ||
| Q1 24 | -20.9% | — |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.33 | $-0.43 | ||
| Q2 25 | $-0.32 | $-0.38 | ||
| Q1 25 | $-0.33 | $-0.26 | ||
| Q4 24 | $-0.37 | — | ||
| Q3 24 | $-0.38 | — | ||
| Q2 24 | $-0.35 | — | ||
| Q1 24 | $-0.36 | — |
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 | — |
| Total DebtLower is stronger | $4.2B | $402.8M |
| Stockholders' EquityBook value | $489.7M | $-92.1M |
| Total Assets | $5.2B | $516.8M |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | — | ||
| Q3 25 | $83.2M | — | ||
| Q2 25 | $58.6M | — | ||
| Q1 25 | $108.0M | — | ||
| Q4 24 | $131.7M | — | ||
| Q3 24 | $153.9M | — | ||
| Q2 24 | $146.2M | — | ||
| Q1 24 | $128.4M | — |
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.2B | $402.8M | ||
| Q2 25 | $4.2B | $411.3M | ||
| Q1 25 | $4.3B | $413.0M | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.3B | — |
| Q4 25 | $489.7M | — | ||
| Q3 25 | $494.1M | $-92.1M | ||
| Q2 25 | $519.1M | $-78.6M | ||
| Q1 25 | $539.5M | $-101.9M | ||
| Q4 24 | $562.0M | — | ||
| Q3 24 | $585.9M | — | ||
| Q2 24 | $618.3M | — | ||
| Q1 24 | $643.2M | — |
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.2B | $516.8M | ||
| Q2 25 | $5.2B | $535.1M | ||
| Q1 25 | $5.4B | $544.2M | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.5B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $5.5B | — |
| 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 | $-5.9M |
| Free Cash FlowOCF − Capex | $42.0M | $-7.4M |
| FCF MarginFCF / Revenue | 36.9% | -9.0% |
| Capex IntensityCapex / Revenue | 16.4% | 1.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | — | ||
| Q3 25 | $22.7M | $-5.9M | ||
| Q2 25 | $18.4M | $-8.8M | ||
| Q1 25 | $11.4M | $-5.7M | ||
| Q4 24 | $2.0M | — | ||
| Q3 24 | $-3.4M | — | ||
| Q2 24 | $10.8M | — | ||
| Q1 24 | $8.0M | — |
| Q4 25 | $42.0M | — | ||
| Q3 25 | $17.6M | $-7.4M | ||
| Q2 25 | $15.2M | $-10.6M | ||
| Q1 25 | $5.0M | $-9.7M | ||
| Q4 24 | $-3.7M | — | ||
| Q3 24 | $-5.9M | — | ||
| Q2 24 | $9.4M | — | ||
| Q1 24 | $5.9M | — |
| Q4 25 | 36.9% | — | ||
| Q3 25 | 15.9% | -9.0% | ||
| Q2 25 | 13.5% | -12.1% | ||
| Q1 25 | 4.5% | -11.2% | ||
| Q4 24 | -3.4% | — | ||
| Q3 24 | -5.5% | — | ||
| Q2 24 | 8.5% | — | ||
| Q1 24 | 5.2% | — |
| Q4 25 | 16.4% | — | ||
| Q3 25 | 4.6% | 1.9% | ||
| Q2 25 | 2.9% | 2.1% | ||
| Q1 25 | 5.7% | 4.6% | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.9% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
