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Side-by-side financial comparison of Ladder Capital Corp (LADR) and NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN). Click either name above to swap in a different company.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP is the larger business by last-quarter revenue ($23.6M vs $22.3M, roughly 1.1× Ladder Capital Corp). Ladder Capital Corp runs the higher net margin — 71.0% vs -677.3%, a 748.4% gap on every dollar of revenue. On growth, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP posted the faster year-over-year revenue change (15.7% vs -18.0%). Over the past eight quarters, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP's revenue compounded faster (8.9% CAGR vs -22.5%).
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
New England Realty Associates Limited Partnership is a real estate investment entity that owns, operates and manages residential and commercial properties primarily across the U.S. New England region. Its core assets include multifamily apartments, mixed-use properties and small commercial spaces, serving tenants across Massachusetts, New Hampshire and adjacent states, delivering steady returns to unitholders via rental income and property value growth.
LADR vs NEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $23.6M |
| Net Profit | $15.9M | $-1.4M |
| Gross Margin | — | — |
| Operating Margin | 69.5% | 14.0% |
| Net Margin | 71.0% | -677.3% |
| Revenue YoY | -18.0% | 15.7% |
| Net Profit YoY | -49.4% | -133.0% |
| EPS (diluted) | $0.13 | — |
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 | $22.3M | $23.6M | ||
| Q3 25 | $27.8M | $23.7M | ||
| Q2 25 | $21.5M | $21.2M | ||
| Q1 25 | $20.3M | $20.7M | ||
| Q4 24 | $27.2M | $20.4M | ||
| Q3 24 | $38.4M | $20.2M | ||
| Q2 24 | $34.3M | $20.1M | ||
| Q1 24 | $37.1M | $19.9M |
| Q4 25 | $15.9M | $-1.4M | ||
| Q3 25 | $19.2M | $-521.8K | ||
| Q2 25 | $17.1M | $4.1M | ||
| Q1 25 | $11.6M | $3.8M | ||
| Q4 24 | $31.3M | $4.2M | ||
| Q3 24 | $27.6M | $3.9M | ||
| Q2 24 | $32.1M | $4.1M | ||
| Q1 24 | $16.4M | $3.5M |
| Q4 25 | 69.5% | 14.0% | ||
| Q3 25 | 72.4% | 20.0% | ||
| Q2 25 | 96.7% | 33.3% | ||
| Q1 25 | 52.7% | 30.1% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | 74.1% | 32.0% | ||
| Q2 24 | 90.4% | 32.6% | ||
| Q1 24 | 49.4% | 28.9% |
| Q4 25 | 71.0% | -677.3% | ||
| Q3 25 | 69.0% | -2.2% | ||
| Q2 25 | 79.5% | 19.5% | ||
| Q1 25 | 56.8% | 18.3% | ||
| Q4 24 | 115.1% | 20.7% | ||
| Q3 24 | 71.7% | 19.3% | ||
| Q2 24 | 93.6% | 20.3% | ||
| Q1 24 | 44.2% | 17.4% |
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.15 | — | ||
| Q2 25 | $0.14 | — | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $0.25 | — | ||
| Q3 24 | $0.22 | — | ||
| Q2 24 | $0.26 | — | ||
| Q1 24 | $0.13 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.0M | $26.7M |
| Total DebtLower is stronger | — | $531.0M |
| Stockholders' EquityBook value | $1.5B | — |
| Total Assets | $5.2B | $505.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $26.7M | ||
| Q3 25 | $49.4M | $13.4M | ||
| Q2 25 | $134.9M | $16.7M | ||
| Q1 25 | $479.8M | $30.9M | ||
| Q4 24 | $1.3B | $17.6M | ||
| Q3 24 | $1.6B | $15.1M | ||
| Q2 24 | $1.2B | $13.5M | ||
| Q1 24 | $1.2B | $28.8M |
| Q4 25 | — | $531.0M | ||
| Q3 25 | — | $514.2M | ||
| Q2 25 | — | $514.3M | ||
| Q1 25 | — | $407.8M | ||
| Q4 24 | — | $408.6M | ||
| Q3 24 | — | $409.3M | ||
| Q2 24 | — | $410.0M | ||
| Q1 24 | — | $410.7M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $5.2B | $505.3M | ||
| Q3 25 | $4.7B | $492.9M | ||
| Q2 25 | $4.5B | $494.8M | ||
| Q1 25 | $4.5B | $385.2M | ||
| Q4 24 | $4.8B | $393.5M | ||
| Q3 24 | $4.8B | $387.4M | ||
| Q2 24 | $4.8B | $383.7M | ||
| Q1 24 | $5.3B | $381.2M |
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 | $87.0M | $27.7M |
| Free Cash FlowOCF − Capex | $78.7M | — |
| FCF MarginFCF / Revenue | 352.4% | — |
| Capex IntensityCapex / Revenue | 37.4% | — |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $27.7M | ||
| Q3 25 | $26.3M | $2.3M | ||
| Q2 25 | $44.0M | $12.5M | ||
| Q1 25 | $-28.7M | $5.5M | ||
| Q4 24 | $133.9M | $31.9M | ||
| Q3 24 | $169.0M | $8.5M | ||
| Q2 24 | $45.4M | $5.4M | ||
| Q1 24 | $-20.4M | $6.1M |
| Q4 25 | $78.7M | — | ||
| Q3 25 | $25.9M | — | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $-29.6M | — | ||
| Q4 24 | $127.4M | — | ||
| Q3 24 | $166.0M | — | ||
| Q2 24 | $44.9M | — | ||
| Q1 24 | $-21.7M | — |
| Q4 25 | 352.4% | — | ||
| Q3 25 | 93.1% | — | ||
| Q2 25 | 201.6% | — | ||
| Q1 25 | -145.6% | — | ||
| Q4 24 | 468.2% | — | ||
| Q3 24 | 432.1% | — | ||
| Q2 24 | 131.0% | — | ||
| Q1 24 | -58.6% | — |
| Q4 25 | 37.4% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 23.9% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 3.7% | — |
| Q4 25 | 5.49× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 2.57× | 3.02× | ||
| Q1 25 | -2.49× | 1.44× | ||
| Q4 24 | 4.27× | 7.57× | ||
| Q3 24 | 6.13× | 2.17× | ||
| Q2 24 | 1.41× | 1.32× | ||
| Q1 24 | -1.24× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
