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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and LIQUIDITY SERVICES INC (LQDT). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $120.7M, roughly 1.1× LIQUIDITY SERVICES INC). LIQUIDITY SERVICES INC runs the higher net margin — 6.2% vs -18.1%, a 24.3% gap on every dollar of revenue. On growth, JBG SMITH Properties posted the faster year-over-year revenue change (5.7% vs 3.7%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (13.6% CAGR vs -2.9%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
JBGS vs LQDT — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $120.7M |
| Net Profit | $-23.0M | $7.5M |
| Gross Margin | — | — |
| Operating Margin | — | 8.0% |
| Net Margin | -18.1% | 6.2% |
| Revenue YoY | 5.7% | 3.7% |
| Net Profit YoY | 57.1% | 6.7% |
| EPS (diluted) | $-0.32 | $0.23 |
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 | $127.6M | $120.7M | ||
| Q4 25 | $127.6M | $121.2M | ||
| Q3 25 | $123.9M | $118.1M | ||
| Q2 25 | $126.5M | $119.9M | ||
| Q1 25 | $120.7M | $116.4M | ||
| Q4 24 | $130.8M | $122.3M | ||
| Q3 24 | $136.0M | $106.9M | ||
| Q2 24 | $135.3M | $93.6M |
| Q1 26 | $-23.0M | $7.5M | ||
| Q4 25 | $-45.5M | $7.5M | ||
| Q3 25 | $-28.6M | $7.8M | ||
| Q2 25 | $-19.2M | $7.4M | ||
| Q1 25 | $-45.7M | $7.1M | ||
| Q4 24 | $-59.9M | $5.8M | ||
| Q3 24 | $-27.0M | $6.4M | ||
| Q2 24 | $-24.4M | $6.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 47.0% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 45.7% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | — | 41.0% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 52.8% |
| Q1 26 | — | 8.0% | ||
| Q4 25 | -47.5% | 7.7% | ||
| Q3 25 | -27.5% | 9.3% | ||
| Q2 25 | -18.4% | 8.5% | ||
| Q1 25 | -44.7% | 5.8% | ||
| Q4 24 | -53.6% | 5.8% | ||
| Q3 24 | -22.4% | 6.8% | ||
| Q2 24 | -24.3% | 8.4% |
| Q1 26 | -18.1% | 6.2% | ||
| Q4 25 | -35.7% | 6.2% | ||
| Q3 25 | -23.1% | 6.6% | ||
| Q2 25 | -15.2% | 6.2% | ||
| Q1 25 | -37.9% | 6.1% | ||
| Q4 24 | -45.8% | 4.7% | ||
| Q3 24 | -19.8% | 6.0% | ||
| Q2 24 | -18.0% | 6.4% |
| Q1 26 | $-0.32 | $0.23 | ||
| Q4 25 | $-0.76 | $0.23 | ||
| Q3 25 | $-0.48 | $0.24 | ||
| Q2 25 | $-0.29 | $0.23 | ||
| Q1 25 | $-0.56 | $0.22 | ||
| Q4 24 | $-0.70 | $0.18 | ||
| Q3 24 | $-0.32 | $0.20 | ||
| Q2 24 | $-0.27 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $204.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | — |
| Total Assets | $4.3B | $400.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $204.0M | ||
| Q4 25 | $75.3M | $11.6M | ||
| Q3 25 | $64.4M | $11.2M | ||
| Q2 25 | $61.4M | $11.4M | ||
| Q1 25 | $81.3M | $10.5M | ||
| Q4 24 | $145.8M | $10.4M | ||
| Q3 24 | $137.0M | $2.3M | ||
| Q2 24 | $163.5M | $6.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $215.3M | ||
| Q3 25 | $1.2B | $203.2M | ||
| Q2 25 | $1.3B | $208.7M | ||
| Q1 25 | $1.6B | $196.3M | ||
| Q4 24 | $1.8B | $189.2M | ||
| Q3 24 | $1.9B | $182.6M | ||
| Q2 24 | $2.0B | $172.0M |
| Q1 26 | $4.3B | $400.4M | ||
| Q4 25 | $4.4B | $369.1M | ||
| Q3 25 | $4.4B | $375.1M | ||
| Q2 25 | $4.5B | $372.4M | ||
| Q1 25 | $4.7B | $358.8M | ||
| Q4 24 | $5.0B | $333.2M | ||
| Q3 24 | $5.2B | $346.9M | ||
| Q2 24 | $5.3B | $325.5M |
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 | — | $29.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.0M | ||
| Q4 25 | $73.3M | $-526.0K | ||
| Q3 25 | $8.9M | $38.0M | ||
| Q2 25 | $18.8M | $19.3M | ||
| Q1 25 | $12.9M | $21.6M | ||
| Q4 24 | $129.4M | $-12.1M | ||
| Q3 24 | $26.4M | $22.0M | ||
| Q2 24 | $23.8M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.8M | ||
| Q3 25 | — | $36.0M | ||
| Q2 25 | — | $17.2M | ||
| Q1 25 | — | $19.8M | ||
| Q4 24 | — | $-14.0M | ||
| Q3 24 | — | $19.2M | ||
| Q2 24 | — | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | -2.3% | ||
| Q3 25 | — | 30.5% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | -11.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 21.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.1% |
| Q1 26 | — | 3.86× | ||
| Q4 25 | — | -0.07× | ||
| Q3 25 | — | 4.86× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 3.07× | ||
| Q4 24 | — | -2.09× | ||
| Q3 24 | — | 3.45× | ||
| Q2 24 | — | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBGS
| Property rental | $105.9M | 83% |
| Third-party real estate services, including reimbursements | $17.2M | 13% |
| Other revenue | $4.5M | 4% |
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
