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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $100.0M, roughly 1.3× Latham Group, Inc.). Latham Group, Inc. runs the higher net margin — -7.0% vs -35.7%, a 28.7% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -2.5%). Over the past eight quarters, Latham Group, Inc.'s revenue compounded faster (-4.9% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
JBGS vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $100.0M |
| Net Profit | $-45.5M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | -47.5% | -10.7% |
| Net Margin | -35.7% | -7.0% |
| Revenue YoY | -2.5% | 14.5% |
| Net Profit YoY | 24.0% | 76.0% |
| EPS (diluted) | $-0.76 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $123.9M | $161.9M | ||
| Q2 25 | $126.5M | $172.6M | ||
| Q1 25 | $120.7M | $111.4M | ||
| Q4 24 | $130.8M | $87.3M | ||
| Q3 24 | $136.0M | $150.5M | ||
| Q2 24 | $135.3M | $160.1M | ||
| Q1 24 | $145.2M | $110.6M |
| Q4 25 | $-45.5M | $-7.0M | ||
| Q3 25 | $-28.6M | $8.1M | ||
| Q2 25 | $-19.2M | $16.0M | ||
| Q1 25 | $-45.7M | $-6.0M | ||
| Q4 24 | $-59.9M | $-29.2M | ||
| Q3 24 | $-27.0M | $5.9M | ||
| Q2 24 | $-24.4M | $13.3M | ||
| Q1 24 | $-32.3M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | -47.5% | -10.7% | ||
| Q3 25 | -27.5% | 13.3% | ||
| Q2 25 | -18.4% | 14.3% | ||
| Q1 25 | -44.7% | -4.4% | ||
| Q4 24 | -53.6% | -14.9% | ||
| Q3 24 | -22.4% | 8.9% | ||
| Q2 24 | -24.3% | 12.5% | ||
| Q1 24 | -30.1% | -1.9% |
| Q4 25 | -35.7% | -7.0% | ||
| Q3 25 | -23.1% | 5.0% | ||
| Q2 25 | -15.2% | 9.3% | ||
| Q1 25 | -37.9% | -5.4% | ||
| Q4 24 | -45.8% | -33.4% | ||
| Q3 24 | -19.8% | 3.9% | ||
| Q2 24 | -18.0% | 8.3% | ||
| Q1 24 | -22.2% | -7.1% |
| Q4 25 | $-0.76 | $-0.06 | ||
| Q3 25 | $-0.48 | $0.07 | ||
| Q2 25 | $-0.29 | $0.13 | ||
| Q1 25 | $-0.56 | $-0.05 | ||
| Q4 24 | $-0.70 | $-0.24 | ||
| Q3 24 | $-0.32 | $0.05 | ||
| Q2 24 | $-0.27 | $0.11 | ||
| Q1 24 | $-0.36 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $1.2B | $405.9M |
| Total Assets | $4.4B | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | — | ||
| Q3 25 | $64.4M | — | ||
| Q2 25 | $61.4M | — | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $145.8M | — | ||
| Q3 24 | $137.0M | — | ||
| Q2 24 | $163.5M | — | ||
| Q1 24 | $220.5M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $1.2B | $405.9M | ||
| Q3 25 | $1.2B | $408.4M | ||
| Q2 25 | $1.3B | $398.4M | ||
| Q1 25 | $1.6B | $381.1M | ||
| Q4 24 | $1.8B | $387.2M | ||
| Q3 24 | $1.9B | $416.6M | ||
| Q2 24 | $2.0B | $408.1M | ||
| Q1 24 | $2.1B | $391.8M |
| Q4 25 | $4.4B | $823.2M | ||
| Q3 25 | $4.4B | $844.4M | ||
| Q2 25 | $4.5B | $822.1M | ||
| Q1 25 | $4.7B | $824.6M | ||
| Q4 24 | $5.0B | $794.2M | ||
| Q3 24 | $5.2B | $853.4M | ||
| Q2 24 | $5.3B | $830.0M | ||
| Q1 24 | $5.4B | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | $23.3M | ||
| Q3 25 | $8.9M | $51.0M | ||
| Q2 25 | $18.8M | $36.0M | ||
| Q1 25 | $12.9M | $-46.9M | ||
| Q4 24 | $129.4M | $6.2M | ||
| Q3 24 | $26.4M | $37.2M | ||
| Q2 24 | $23.8M | $52.4M | ||
| Q1 24 | $37.0M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBGS
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
