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Side-by-side financial comparison of Kennedy-Wilson Holdings, Inc. (KW) and TSS, Inc. (TSSI). Click either name above to swap in a different company.

Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $60.9M, roughly 2.0× TSS, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 20.0%, a 28.1% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs -11.0%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-55.2M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs -6.0%).

KW vs TSSI — Head-to-Head

Bigger by revenue
KW
KW
2.0× larger
KW
$120.6M
$60.9M
TSSI
Growing faster (revenue YoY)
TSSI
TSSI
+32.7% gap
TSSI
21.8%
-11.0%
KW
Higher net margin
KW
KW
28.1% more per $
KW
48.1%
20.0%
TSSI
More free cash flow
TSSI
TSSI
$71.0M more FCF
TSSI
$15.8M
$-55.2M
KW
Faster 2-yr revenue CAGR
TSSI
TSSI
Annualised
TSSI
95.8%
-6.0%
KW

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
KW
KW
TSSI
TSSI
Revenue
$120.6M
$60.9M
Net Profit
$58.0M
$12.2M
Gross Margin
17.6%
Operating Margin
57.3%
1.5%
Net Margin
48.1%
20.0%
Revenue YoY
-11.0%
21.8%
Net Profit YoY
32.7%
535.7%
EPS (diluted)
$0.22
$0.44

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
KW
KW
TSSI
TSSI
Q4 25
$120.6M
$60.9M
Q3 25
$116.4M
$41.9M
Q2 25
$135.7M
$44.0M
Q1 25
$128.3M
$99.0M
Q4 24
$135.5M
$50.0M
Q3 24
$127.5M
$70.1M
Q2 24
$132.0M
$12.2M
Q1 24
$136.4M
$15.9M
Net Profit
KW
KW
TSSI
TSSI
Q4 25
$58.0M
$12.2M
Q3 25
$-10.2M
$-1.5M
Q2 25
$5.6M
$1.5M
Q1 25
$-29.6M
$3.0M
Q4 24
$43.7M
$1.9M
Q3 24
$-66.8M
$2.6M
Q2 24
$-48.3M
$1.4M
Q1 24
$37.7M
$15.0K
Gross Margin
KW
KW
TSSI
TSSI
Q4 25
17.6%
Q3 25
11.1%
Q2 25
17.8%
Q1 25
9.3%
Q4 24
14.4%
Q3 24
11.3%
Q2 24
37.3%
Q1 24
17.1%
Operating Margin
KW
KW
TSSI
TSSI
Q4 25
57.3%
1.5%
Q3 25
-6.2%
-2.2%
Q2 25
7.4%
5.1%
Q1 25
-26.9%
4.2%
Q4 24
36.7%
0.0%
Q3 24
-60.8%
5.4%
Q2 24
-45.5%
14.0%
Q1 24
47.2%
1.6%
Net Margin
KW
KW
TSSI
TSSI
Q4 25
48.1%
20.0%
Q3 25
-8.8%
-3.6%
Q2 25
4.1%
3.4%
Q1 25
-23.1%
3.0%
Q4 24
32.3%
3.8%
Q3 24
-52.4%
3.8%
Q2 24
-36.6%
11.5%
Q1 24
27.6%
0.1%
EPS (diluted)
KW
KW
TSSI
TSSI
Q4 25
$0.22
$0.44
Q3 25
$-0.15
$-0.06
Q2 25
$-0.05
$0.06
Q1 25
$-0.30
$0.12
Q4 24
$0.24
$0.08
Q3 24
$-0.56
$0.10
Q2 24
$-0.43
$0.06
Q1 24
$0.19
$0.00

Balance Sheet & Financial Strength

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

Metric
KW
KW
TSSI
TSSI
Cash + ST InvestmentsLiquidity on hand
$184.5M
$85.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.5B
$76.6M
Total Assets
$6.6B
$184.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
KW
KW
TSSI
TSSI
Q4 25
$184.5M
$85.5M
Q3 25
$382.6M
$70.7M
Q2 25
$309.1M
Q1 25
$356.6M
Q4 24
$217.5M
$23.2M
Q3 24
$367.1M
$46.4M
Q2 24
$366.5M
$8.3M
Q1 24
$541.9M
$14.4M
Stockholders' Equity
KW
KW
TSSI
TSSI
Q4 25
$1.5B
$76.6M
Q3 25
$1.5B
$63.4M
Q2 25
$1.6B
$9.5M
Q1 25
$1.6B
$9.4M
Q4 24
$1.6B
$7.1M
Q3 24
$1.6B
$7.7M
Q2 24
$1.7B
$5.2M
Q1 24
$1.7B
$3.7M
Total Assets
KW
KW
TSSI
TSSI
Q4 25
$6.6B
$184.9M
Q3 25
$6.7B
$165.4M
Q2 25
$6.8B
$139.5M
Q1 25
$7.2B
$113.5M
Q4 24
$7.0B
$96.6M
Q3 24
$7.4B
$67.3M
Q2 24
$7.5B
$28.9M
Q1 24
$7.7B
$26.8M

Cash Flow & Capital Efficiency

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

Metric
KW
KW
TSSI
TSSI
Operating Cash FlowLast quarter
$11.4M
$16.3M
Free Cash FlowOCF − Capex
$-55.2M
$15.8M
FCF MarginFCF / Revenue
-45.8%
25.9%
Capex IntensityCapex / Revenue
55.2%
0.9%
Cash ConversionOCF / Net Profit
0.20×
1.34×
TTM Free Cash FlowTrailing 4 quarters
$-103.5M
$2.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
KW
KW
TSSI
TSSI
Q4 25
$11.4M
$16.3M
Q3 25
$-7.6M
$-18.4M
Q2 25
$42.0M
$16.3M
Q1 25
$-51.9M
$20.6M
Q4 24
$55.1M
$-21.6M
Q3 24
$-5.6M
$38.6M
Q2 24
$36.7M
$-4.3M
Q1 24
$-5.6M
$2.6M
Free Cash Flow
KW
KW
TSSI
TSSI
Q4 25
$-55.2M
$15.8M
Q3 25
$-18.0M
$-24.9M
Q2 25
$29.4M
$5.4M
Q1 25
$-59.7M
$5.8M
Q4 24
$-76.5M
$-28.4M
Q3 24
$-27.7M
$38.6M
Q2 24
$-500.0K
$-6.0M
Q1 24
$-57.1M
$2.6M
FCF Margin
KW
KW
TSSI
TSSI
Q4 25
-45.8%
25.9%
Q3 25
-15.5%
-59.3%
Q2 25
21.7%
12.3%
Q1 25
-46.5%
5.8%
Q4 24
-56.5%
-56.7%
Q3 24
-21.7%
55.1%
Q2 24
-0.4%
-49.4%
Q1 24
-41.9%
16.4%
Capex Intensity
KW
KW
TSSI
TSSI
Q4 25
55.2%
0.9%
Q3 25
8.9%
15.3%
Q2 25
9.3%
24.8%
Q1 25
6.1%
15.0%
Q4 24
97.1%
13.4%
Q3 24
17.3%
0.1%
Q2 24
28.2%
13.8%
Q1 24
37.8%
0.2%
Cash Conversion
KW
KW
TSSI
TSSI
Q4 25
0.20×
1.34×
Q3 25
Q2 25
7.50×
11.02×
Q1 25
6.93×
Q4 24
1.26×
-11.32×
Q3 24
14.60×
Q2 24
-3.09×
Q1 24
-0.15×
176.40×

Financial Flow Comparison

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

Revenue Breakdown by Segment

KW
KW

Consolidated Portfolio Segment$84.9M70%
Investment Management Fees$30.4M25%
Real Estate$5.1M4%

TSSI
TSSI

Procurement Revenues Segment$43.2M71%
System Integration Services Segment$14.2M23%
Facilities Segment$3.5M6%

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