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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and Telesat Corp (TSAT). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $73.8M, roughly 1.7× Telesat Corp). JBG SMITH Properties runs the higher net margin — -35.7% vs -119.8%, a 84.1% gap on every dollar of revenue. Over the past eight quarters, JBG SMITH Properties's revenue compounded faster (-6.3% CAGR vs -64.0%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
JBGS vs TSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $73.8M |
| Net Profit | $-45.5M | $-88.4M |
| Gross Margin | — | 95.3% |
| Operating Margin | -47.5% | 5.9% |
| Net Margin | -35.7% | -119.8% |
| Revenue YoY | -2.5% | — |
| Net Profit YoY | 24.0% | — |
| EPS (diluted) | $-0.76 | — |
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 | — | ||
| Q3 25 | $123.9M | $73.8M | ||
| Q2 25 | $126.5M | $77.5M | ||
| Q1 25 | $120.7M | $152.2M | ||
| Q4 24 | $130.8M | — | ||
| Q3 24 | $136.0M | — | ||
| Q2 24 | $135.3M | $363.2M | ||
| Q1 24 | $145.2M | — |
| Q4 25 | $-45.5M | — | ||
| Q3 25 | $-28.6M | $-88.4M | ||
| Q2 25 | $-19.2M | $55.1M | ||
| Q1 25 | $-45.7M | $-52.3M | ||
| Q4 24 | $-59.9M | — | ||
| Q3 24 | $-27.0M | — | ||
| Q2 24 | $-24.4M | $547.4M | ||
| Q1 24 | $-32.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 95.3% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -47.5% | — | ||
| Q3 25 | -27.5% | 5.9% | ||
| Q2 25 | -18.4% | 16.8% | ||
| Q1 25 | -44.7% | — | ||
| Q4 24 | -53.6% | — | ||
| Q3 24 | -22.4% | — | ||
| Q2 24 | -24.3% | — | ||
| Q1 24 | -30.1% | — |
| Q4 25 | -35.7% | — | ||
| Q3 25 | -23.1% | -119.8% | ||
| Q2 25 | -15.2% | 71.2% | ||
| Q1 25 | -37.9% | -34.4% | ||
| Q4 24 | -45.8% | — | ||
| Q3 24 | -19.8% | — | ||
| Q2 24 | -18.0% | 150.7% | ||
| Q1 24 | -22.2% | — |
| Q4 25 | $-0.76 | — | ||
| Q3 25 | $-0.48 | — | ||
| Q2 25 | $-0.29 | — | ||
| Q1 25 | $-0.56 | — | ||
| Q4 24 | $-0.70 | — | ||
| Q3 24 | $-0.32 | — | ||
| Q2 24 | $-0.27 | — | ||
| Q1 24 | $-0.36 | — |
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 | $352.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $1.6B |
| Total Assets | $4.4B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | — | ||
| Q3 25 | $64.4M | $352.3M | ||
| Q2 25 | $61.4M | $399.6M | ||
| Q1 25 | $81.3M | $552.1M | ||
| Q4 24 | $145.8M | — | ||
| Q3 24 | $137.0M | — | ||
| Q2 24 | $163.5M | $1.7B | ||
| Q1 24 | $220.5M | — |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.6B | $2.5B | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.0B | $2.4B | ||
| Q1 24 | $2.1B | — |
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | $5.1B | ||
| Q2 25 | $4.5B | $4.9B | ||
| Q1 25 | $4.7B | $6.9B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $5.3B | $6.3B | ||
| Q1 24 | $5.4B | — |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | — | ||
| Q3 25 | $8.9M | — | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $12.9M | — | ||
| Q4 24 | $129.4M | — | ||
| Q3 24 | $26.4M | — | ||
| Q2 24 | $23.8M | — | ||
| Q1 24 | $37.0M | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
