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Side-by-side financial comparison of INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM) and Seritage Growth Properties (SRG). Click either name above to swap in a different company.

INTELLIGENT PROTECTION MANAGEMENT CORP. is the larger business by last-quarter revenue ($6.1M vs $4.2M, roughly 1.5× Seritage Growth Properties). On growth, INTELLIGENT PROTECTION MANAGEMENT CORP. posted the faster year-over-year revenue change (2091.6% vs -4.9%). Over the past eight quarters, INTELLIGENT PROTECTION MANAGEMENT CORP.'s revenue compounded faster (54.7% CAGR vs -15.0%).

Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.

Seritage Growth Properties is a U.S.-headquartered publicly traded real estate investment trust. It owns, redevelops, and manages a diversified portfolio of retail, residential, and mixed-use commercial properties across key U.S. markets, leasing spaces to retail, dining, and service sector tenants.

IPM vs SRG — Head-to-Head

Bigger by revenue
IPM
IPM
1.5× larger
IPM
$6.1M
$4.2M
SRG
Growing faster (revenue YoY)
IPM
IPM
+2096.5% gap
IPM
2091.6%
-4.9%
SRG
Faster 2-yr revenue CAGR
IPM
IPM
Annualised
IPM
54.7%
-15.0%
SRG

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IPM
IPM
SRG
SRG
Revenue
$6.1M
$4.2M
Net Profit
Gross Margin
53.1%
Operating Margin
-13.4%
Net Margin
Revenue YoY
2091.6%
-4.9%
Net Profit YoY
55.2%
EPS (diluted)
$-0.05

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
IPM
IPM
SRG
SRG
Q4 25
$6.1M
$4.2M
Q3 25
$6.2M
$4.8M
Q2 25
$5.7M
$4.7M
Q1 25
$5.5M
$4.6M
Q4 24
$4.4M
Q3 24
$3.3M
Q2 24
$4.2M
Q1 24
$5.8M
Net Profit
IPM
IPM
SRG
SRG
Q4 25
Q3 25
$-1.1M
$-12.4M
Q2 25
$-1.1M
$-28.5M
Q1 25
$808.5K
$-22.2M
Q4 24
Q3 24
$-22.0M
Q2 24
$-101.2M
Q1 24
$-19.0M
Gross Margin
IPM
IPM
SRG
SRG
Q4 25
53.1%
Q3 25
50.7%
Q2 25
50.1%
Q1 25
55.3%
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
IPM
IPM
SRG
SRG
Q4 25
-13.4%
Q3 25
-23.0%
-258.0%
Q2 25
-19.7%
-610.2%
Q1 25
-24.2%
-486.9%
Q4 24
Q3 24
-673.2%
Q2 24
-2366.1%
Q1 24
-328.7%
Net Margin
IPM
IPM
SRG
SRG
Q4 25
Q3 25
-17.4%
-259.6%
Q2 25
-18.3%
-612.6%
Q1 25
14.7%
-482.8%
Q4 24
Q3 24
-675.9%
Q2 24
-2401.0%
Q1 24
-328.9%
EPS (diluted)
IPM
IPM
SRG
SRG
Q4 25
$-0.05
Q3 25
$-0.08
$-0.24
Q2 25
$-0.08
$-0.53
Q1 25
$0.06
$-0.42
Q4 24
Q3 24
$-0.41
Q2 24
$-1.82
Q1 24
$-0.36

Balance Sheet & Financial Strength

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

Metric
IPM
IPM
SRG
SRG
Cash + ST InvestmentsLiquidity on hand
$5.6M
$48.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$18.2M
$331.4M
Total Assets
$26.0M
$393.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IPM
IPM
SRG
SRG
Q4 25
$5.6M
$48.1M
Q3 25
$7.3M
$51.5M
Q2 25
$7.3M
$71.8M
Q1 25
$9.7M
$94.3M
Q4 24
$85.2M
Q3 24
$85.6M
Q2 24
$86.7M
Q1 24
$114.9M
Stockholders' Equity
IPM
IPM
SRG
SRG
Q4 25
$18.2M
$331.4M
Q3 25
$18.8M
$337.7M
Q2 25
$19.9M
$351.4M
Q1 25
$21.1M
$381.1M
Q4 24
$404.5M
Q3 24
$417.5M
Q2 24
$440.4M
Q1 24
$542.4M
Total Assets
IPM
IPM
SRG
SRG
Q4 25
$26.0M
$393.8M
Q3 25
$27.2M
$558.6M
Q2 25
$29.8M
$575.7M
Q1 25
$31.1M
$649.7M
Q4 24
$677.8M
Q3 24
$735.0M
Q2 24
$758.3M
Q1 24
$914.6M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IPM
IPM
SRG
SRG
Operating Cash FlowLast quarter
$87.6K
$-34.9M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IPM
IPM
SRG
SRG
Q4 25
$87.6K
$-34.9M
Q3 25
$133.0K
$-12.5M
Q2 25
$-888.7K
$-12.0M
Q1 25
$1.7M
$-9.2M
Q4 24
$-53.5M
Q3 24
$-15.5M
Q2 24
$-7.5M
Q1 24
$-16.6M
Capex Intensity
IPM
IPM
SRG
SRG
Q4 25
Q3 25
0.0%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Cash Conversion
IPM
IPM
SRG
SRG
Q4 25
Q3 25
Q2 25
Q1 25
2.16×
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

IPM
IPM

Procurement Revenue$5.4M88%
Other$743.9K12%

SRG
SRG

Segment breakdown not available.

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