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Side-by-side financial comparison of INDEPENDENCE REALTY TRUST, INC. (IRT) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $165.3M, roughly 1.5× INDEPENDENCE REALTY TRUST, INC.). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs -15.3%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.2% CAGR vs -1.6%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
IRT vs XIFR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $165.3M | $249.0M |
| Net Profit | — | $28.0M |
| Gross Margin | — | — |
| Operating Margin | — | -19.3% |
| Net Margin | — | 11.2% |
| Revenue YoY | 2.5% | -15.3% |
| Net Profit YoY | — | 124.3% |
| EPS (diluted) | $0.00 | — |
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.
| Q1 26 | $165.3M | — | ||
| Q4 25 | $167.1M | $249.0M | ||
| Q3 25 | $167.1M | $315.0M | ||
| Q2 25 | $162.2M | $342.0M | ||
| Q1 25 | $161.2M | $282.0M | ||
| Q4 24 | $161.0M | $294.0M | ||
| Q3 24 | $160.1M | $319.0M | ||
| Q2 24 | $158.4M | $360.0M |
| Q1 26 | — | — | ||
| Q4 25 | $33.3M | $28.0M | ||
| Q3 25 | $6.9M | $-37.0M | ||
| Q2 25 | $8.0M | $79.0M | ||
| Q1 25 | $8.4M | $-98.0M | ||
| Q4 24 | $-1.0M | $-115.0M | ||
| Q3 24 | $12.4M | $-40.0M | ||
| Q2 24 | $10.4M | $62.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -19.3% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 26.3% | ||
| Q1 25 | — | -82.6% | ||
| Q4 24 | — | -188.1% | ||
| Q3 24 | — | 15.4% | ||
| Q2 24 | — | 18.3% |
| Q1 26 | — | — | ||
| Q4 25 | 19.9% | 11.2% | ||
| Q3 25 | 4.1% | -11.7% | ||
| Q2 25 | 5.0% | 23.1% | ||
| Q1 25 | 5.2% | -34.8% | ||
| Q4 24 | -0.6% | -39.1% | ||
| Q3 24 | 7.7% | -12.5% | ||
| Q2 24 | 6.5% | 17.2% |
| Q1 26 | $0.00 | — | ||
| Q4 25 | $0.14 | — | ||
| Q3 25 | $0.03 | $-0.40 | ||
| Q2 25 | $0.03 | $0.84 | ||
| Q1 25 | $0.04 | $-1.05 | ||
| Q4 24 | $-0.01 | — | ||
| Q3 24 | $0.05 | $-0.43 | ||
| Q2 24 | $0.05 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.3M | $960.0M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $3.4B | $10.9B |
| Total Assets | $6.1B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $23.3M | — | ||
| Q4 25 | $23.6M | $960.0M | ||
| Q3 25 | $23.3M | $711.0M | ||
| Q2 25 | $19.5M | $880.0M | ||
| Q1 25 | $29.1M | $1.5B | ||
| Q4 24 | $21.2M | $283.0M | ||
| Q3 24 | $17.6M | $290.0M | ||
| Q2 24 | $21.0M | $281.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $6.2B | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | $5.3B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.5B | $10.9B | ||
| Q3 25 | $3.5B | $11.0B | ||
| Q2 25 | $3.4B | $11.3B | ||
| Q1 25 | $3.5B | $12.6B | ||
| Q4 24 | $3.4B | $12.9B | ||
| Q3 24 | $3.4B | $13.6B | ||
| Q2 24 | $3.4B | $13.9B |
| Q1 26 | $6.1B | — | ||
| Q4 25 | $6.0B | $19.6B | ||
| Q3 25 | $6.1B | $19.1B | ||
| Q2 25 | $6.0B | $20.5B | ||
| Q1 25 | $6.0B | $21.4B | ||
| Q4 24 | $6.1B | $20.3B | ||
| Q3 24 | $5.9B | $20.9B | ||
| Q2 24 | $5.9B | $21.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 0.57× | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.68× | 0.41× | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.66× | — |
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 | — | $186.0M |
| Free Cash FlowOCF − Capex | — | $-88.0M |
| FCF MarginFCF / Revenue | — | -35.3% |
| Capex IntensityCapex / Revenue | — | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $282.1M | $186.0M | ||
| Q3 25 | $79.3M | $231.0M | ||
| Q2 25 | $82.2M | $232.0M | ||
| Q1 25 | $60.4M | $90.0M | ||
| Q4 24 | $259.8M | $283.0M | ||
| Q3 24 | $69.2M | $208.0M | ||
| Q2 24 | $83.0M | $231.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-88.0M | ||
| Q3 25 | — | $-283.0M | ||
| Q2 25 | — | $151.0M | ||
| Q1 25 | — | $1.0M | ||
| Q4 24 | — | $231.0M | ||
| Q3 24 | — | $152.0M | ||
| Q2 24 | — | $162.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -35.3% | ||
| Q3 25 | — | -89.8% | ||
| Q2 25 | — | 44.2% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 78.6% | ||
| Q3 24 | — | 47.6% | ||
| Q2 24 | — | 45.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 110.0% | ||
| Q3 25 | — | 163.2% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | — | 31.6% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 19.2% |
| Q1 26 | — | — | ||
| Q4 25 | 8.48× | 6.64× | ||
| Q3 25 | 11.51× | — | ||
| Q2 25 | 10.22× | 2.94× | ||
| Q1 25 | 7.23× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.60× | — | ||
| Q2 24 | 8.02× | 3.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
