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Side-by-side financial comparison of InvenTrust Properties Corp. (IVT) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.

Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $77.4M, roughly 1.1× InvenTrust Properties Corp.). InvenTrust Properties Corp. runs the higher net margin — 3.4% vs 1.4%, a 2.1% gap on every dollar of revenue. On growth, InvenTrust Properties Corp. posted the faster year-over-year revenue change (8.6% vs -5.8%). InvenTrust Properties Corp. produced more free cash flow last quarter ($110.9M vs $20.4M). Over the past eight quarters, InvenTrust Properties Corp.'s revenue compounded faster (7.6% CAGR vs 1.8%).

InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2024, the company owned interests in 68 properties comprising 11.0 million square feet.

Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.

IVT vs SND — Head-to-Head

Bigger by revenue
SND
SND
1.1× larger
SND
$86.0M
$77.4M
IVT
Growing faster (revenue YoY)
IVT
IVT
+14.5% gap
IVT
8.6%
-5.8%
SND
Higher net margin
IVT
IVT
2.1% more per $
IVT
3.4%
1.4%
SND
More free cash flow
IVT
IVT
$90.5M more FCF
IVT
$110.9M
$20.4M
SND
Faster 2-yr revenue CAGR
IVT
IVT
Annualised
IVT
7.6%
1.8%
SND

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IVT
IVT
SND
SND
Revenue
$77.4M
$86.0M
Net Profit
$2.7M
$1.2M
Gross Margin
13.0%
Operating Margin
-11.0%
-3.1%
Net Margin
3.4%
1.4%
Revenue YoY
8.6%
-5.8%
Net Profit YoY
-72.8%
-68.5%
EPS (diluted)
$0.02
$0.03

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
IVT
IVT
SND
SND
Q4 25
$77.4M
$86.0M
Q3 25
$74.5M
$92.8M
Q2 25
$73.6M
$85.8M
Q1 25
$73.8M
$65.6M
Q4 24
$71.2M
$91.4M
Q3 24
$68.5M
$63.2M
Q2 24
$67.4M
$73.8M
Q1 24
$66.8M
$83.1M
Net Profit
IVT
IVT
SND
SND
Q4 25
$2.7M
$1.2M
Q3 25
$6.0M
$3.0M
Q2 25
$95.9M
$21.4M
Q1 25
$6.8M
$-24.2M
Q4 24
$9.8M
$3.7M
Q3 24
$-539.0K
$-98.0K
Q2 24
$1.5M
$-430.0K
Q1 24
$2.9M
$-216.0K
Gross Margin
IVT
IVT
SND
SND
Q4 25
13.0%
Q3 25
16.1%
Q2 25
10.4%
Q1 25
4.2%
Q4 24
14.7%
Q3 24
10.3%
Q2 24
17.7%
Q1 24
14.2%
Operating Margin
IVT
IVT
SND
SND
Q4 25
-11.0%
-3.1%
Q3 25
-9.8%
5.8%
Q2 25
-0.1%
Q1 25
-10.5%
-10.8%
Q4 24
-3.6%
3.9%
Q3 24
-18.7%
-7.8%
Q2 24
-13.6%
4.8%
Q1 24
-13.1%
0.9%
Net Margin
IVT
IVT
SND
SND
Q4 25
3.4%
1.4%
Q3 25
8.1%
3.2%
Q2 25
130.4%
24.9%
Q1 25
9.2%
-37.0%
Q4 24
13.8%
4.1%
Q3 24
-0.8%
-0.2%
Q2 24
2.2%
-0.6%
Q1 24
4.3%
-0.3%
EPS (diluted)
IVT
IVT
SND
SND
Q4 25
$0.02
$0.03
Q3 25
$0.08
$0.08
Q2 25
$1.23
$0.54
Q1 25
$0.09
$-0.62
Q4 24
$0.14
$0.10
Q3 24
$-0.01
$0.00
Q2 24
$0.02
$-0.01
Q1 24
$0.04
$-0.01

Balance Sheet & Financial Strength

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

Metric
IVT
IVT
SND
SND
Cash + ST InvestmentsLiquidity on hand
$22.6M
Total DebtLower is stronger
$825.9M
$15.0M
Stockholders' EquityBook value
$1.8B
$239.7M
Total Assets
$2.8B
$340.0M
Debt / EquityLower = less leverage
0.46×
0.06×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IVT
IVT
SND
SND
Q4 25
$22.6M
Q3 25
$5.1M
Q2 25
$4.3M
Q1 25
$5.1M
Q4 24
$1.6M
Q3 24
$7.2M
Q2 24
$6.3M
Q1 24
$4.6M
Total Debt
IVT
IVT
SND
SND
Q4 25
$825.9M
$15.0M
Q3 25
$764.6M
$14.3M
Q2 25
$746.3M
$23.5M
Q1 25
$740.7M
$13.7M
Q4 24
$740.4M
$14.7M
Q3 24
$740.1M
$15.7M
Q2 24
$812.2M
$17.1M
Q1 24
$827.5M
$25.5M
Stockholders' Equity
IVT
IVT
SND
SND
Q4 25
$1.8B
$239.7M
Q3 25
$1.8B
$239.9M
Q2 25
$1.8B
$240.5M
Q1 25
$1.7B
$219.9M
Q4 24
$1.8B
$243.8M
Q3 24
$1.8B
$243.6M
Q2 24
$1.5B
$242.9M
Q1 24
$1.5B
$242.5M
Total Assets
IVT
IVT
SND
SND
Q4 25
$2.8B
$340.0M
Q3 25
$2.7B
$343.1M
Q2 25
$2.7B
$345.8M
Q1 25
$2.6B
$326.9M
Q4 24
$2.6B
$341.5M
Q3 24
$2.6B
$335.8M
Q2 24
$2.5B
$341.8M
Q1 24
$2.5B
$349.3M
Debt / Equity
IVT
IVT
SND
SND
Q4 25
0.46×
0.06×
Q3 25
0.42×
0.06×
Q2 25
0.41×
0.10×
Q1 25
0.42×
0.06×
Q4 24
0.42×
0.06×
Q3 24
0.42×
0.06×
Q2 24
0.53×
0.07×
Q1 24
0.53×
0.11×

Cash Flow & Capital Efficiency

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

Metric
IVT
IVT
SND
SND
Operating Cash FlowLast quarter
$155.4M
$22.4M
Free Cash FlowOCF − Capex
$110.9M
$20.4M
FCF MarginFCF / Revenue
143.3%
23.7%
Capex IntensityCapex / Revenue
57.5%
2.3%
Cash ConversionOCF / Net Profit
58.41×
18.99×
TTM Free Cash FlowTrailing 4 quarters
$193.1M
$32.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IVT
IVT
SND
SND
Q4 25
$155.4M
$22.4M
Q3 25
$43.8M
$18.2M
Q2 25
$48.7M
$-5.1M
Q1 25
$20.2M
$8.7M
Q4 24
$136.9M
$1.0M
Q3 24
$38.4M
$5.8M
Q2 24
$46.7M
$14.9M
Q1 24
$14.8M
$-3.9M
Free Cash Flow
IVT
IVT
SND
SND
Q4 25
$110.9M
$20.4M
Q3 25
$31.4M
$14.8M
Q2 25
$38.0M
$-7.8M
Q1 25
$12.8M
$5.2M
Q4 24
$100.8M
$-840.0K
Q3 24
$29.3M
$3.7M
Q2 24
$37.2M
$13.5M
Q1 24
$7.7M
$-5.5M
FCF Margin
IVT
IVT
SND
SND
Q4 25
143.3%
23.7%
Q3 25
42.2%
15.9%
Q2 25
51.6%
-9.1%
Q1 25
17.4%
7.9%
Q4 24
141.5%
-0.9%
Q3 24
42.8%
5.8%
Q2 24
55.2%
18.3%
Q1 24
11.5%
-6.6%
Capex Intensity
IVT
IVT
SND
SND
Q4 25
57.5%
2.3%
Q3 25
16.7%
3.6%
Q2 25
14.6%
3.1%
Q1 25
10.0%
5.4%
Q4 24
50.7%
2.1%
Q3 24
13.3%
3.4%
Q2 24
14.0%
1.8%
Q1 24
10.6%
2.0%
Cash Conversion
IVT
IVT
SND
SND
Q4 25
58.41×
18.99×
Q3 25
7.27×
6.05×
Q2 25
0.51×
-0.24×
Q1 25
2.97×
Q4 24
13.97×
0.28×
Q3 24
Q2 24
31.15×
Q1 24
5.10×

Financial Flow Comparison

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

Revenue Breakdown by Segment

IVT
IVT

Segment breakdown not available.

SND
SND

Sand$85.1M99%
Smart Systems Segment$980.0K1%

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