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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and PubMatic, Inc. (PUBM). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $80.0M, roughly 1.6× PubMatic, Inc.). On growth, JBG SMITH Properties posted the faster year-over-year revenue change (-2.5% vs -6.4%). Over the past eight quarters, PubMatic, Inc.'s revenue compounded faster (9.5% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.
JBGS vs PUBM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $80.0M |
| Net Profit | $-45.5M | — |
| Gross Margin | — | 68.2% |
| Operating Margin | -47.5% | 10.6% |
| Net Margin | -35.7% | — |
| Revenue YoY | -2.5% | -6.4% |
| Net Profit YoY | 24.0% | — |
| EPS (diluted) | $-0.76 | $0.14 |
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 | $127.6M | $80.0M | ||
| Q3 25 | $123.9M | $68.0M | ||
| Q2 25 | $126.5M | $71.1M | ||
| Q1 25 | $120.7M | $63.8M | ||
| Q4 24 | $130.8M | $85.5M | ||
| Q3 24 | $136.0M | $71.8M | ||
| Q2 24 | $135.3M | $67.3M | ||
| Q1 24 | $145.2M | $66.7M |
| Q4 25 | $-45.5M | — | ||
| Q3 25 | $-28.6M | $-6.5M | ||
| Q2 25 | $-19.2M | $-5.2M | ||
| Q1 25 | $-45.7M | $-9.5M | ||
| Q4 24 | $-59.9M | — | ||
| Q3 24 | $-27.0M | $-912.0K | ||
| Q2 24 | $-24.4M | $2.0M | ||
| Q1 24 | $-32.3M | $-2.5M |
| Q4 25 | — | 68.2% | ||
| Q3 25 | — | 62.6% | ||
| Q2 25 | — | 62.6% | ||
| Q1 25 | — | 59.9% | ||
| Q4 24 | — | 70.8% | ||
| Q3 24 | — | 64.5% | ||
| Q2 24 | — | 62.6% | ||
| Q1 24 | — | 61.9% |
| Q4 25 | -47.5% | 10.6% | ||
| Q3 25 | -27.5% | -12.4% | ||
| Q2 25 | -18.4% | -7.7% | ||
| Q1 25 | -44.7% | -18.6% | ||
| Q4 24 | -53.6% | 17.3% | ||
| Q3 24 | -22.4% | -1.9% | ||
| Q2 24 | -24.3% | -5.9% | ||
| Q1 24 | -30.1% | -8.3% |
| Q4 25 | -35.7% | — | ||
| Q3 25 | -23.1% | -9.5% | ||
| Q2 25 | -15.2% | -7.3% | ||
| Q1 25 | -37.9% | -14.9% | ||
| Q4 24 | -45.8% | — | ||
| Q3 24 | -19.8% | -1.3% | ||
| Q2 24 | -18.0% | 2.9% | ||
| Q1 24 | -22.2% | -3.7% |
| Q4 25 | $-0.76 | $0.14 | ||
| Q3 25 | $-0.48 | $-0.14 | ||
| Q2 25 | $-0.29 | $-0.11 | ||
| Q1 25 | $-0.56 | $-0.20 | ||
| Q4 24 | $-0.70 | $0.26 | ||
| Q3 24 | $-0.32 | $-0.02 | ||
| Q2 24 | $-0.27 | $0.04 | ||
| Q1 24 | $-0.36 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.3M | $145.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $262.6M |
| Total Assets | $4.4B | $680.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | $145.5M | ||
| Q3 25 | $64.4M | $136.5M | ||
| Q2 25 | $61.4M | $90.5M | ||
| Q1 25 | $81.3M | $101.8M | ||
| Q4 24 | $145.8M | $100.5M | ||
| Q3 24 | $137.0M | $78.9M | ||
| Q2 24 | $163.5M | $73.5M | ||
| Q1 24 | $220.5M | $80.2M |
| Q4 25 | $1.2B | $262.6M | ||
| Q3 25 | $1.2B | $245.1M | ||
| Q2 25 | $1.3B | $243.3M | ||
| Q1 25 | $1.6B | $275.6M | ||
| Q4 24 | $1.8B | $277.3M | ||
| Q3 24 | $1.9B | $263.2M | ||
| Q2 24 | $2.0B | $282.7M | ||
| Q1 24 | $2.1B | $288.7M |
| Q4 25 | $4.4B | $680.2M | ||
| Q3 25 | $4.4B | $676.2M | ||
| Q2 25 | $4.5B | $675.2M | ||
| Q1 25 | $4.7B | $668.6M | ||
| Q4 24 | $5.0B | $739.5M | ||
| Q3 24 | $5.2B | $689.1M | ||
| Q2 24 | $5.3B | $673.1M | ||
| Q1 24 | $5.4B | $626.2M |
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 | $73.3M | $18.2M |
| Free Cash FlowOCF − Capex | — | $11.3M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 8.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $66.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | $18.2M | ||
| Q3 25 | $8.9M | $32.4M | ||
| Q2 25 | $18.8M | $14.9M | ||
| Q1 25 | $12.9M | $15.6M | ||
| Q4 24 | $129.4M | $18.0M | ||
| Q3 24 | $26.4M | $19.1M | ||
| Q2 24 | $23.8M | $11.9M | ||
| Q1 24 | $37.0M | $24.3M |
| Q4 25 | — | $11.3M | ||
| Q3 25 | — | $27.7M | ||
| Q2 25 | — | $13.6M | ||
| Q1 25 | — | $14.2M | ||
| Q4 24 | — | $13.7M | ||
| Q3 24 | — | $7.4M | ||
| Q2 24 | — | $11.2M | ||
| Q1 24 | — | $23.5M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 40.8% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 22.2% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 35.2% |
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
