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Side-by-side financial comparison of Ladder Capital Corp (LADR) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $22.3M, roughly 1.6× Ladder Capital Corp). Ladder Capital Corp runs the higher net margin — 71.0% vs -8.9%, a 79.9% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -18.0%). Ladder Capital Corp produced more free cash flow last quarter ($78.7M vs $7.7M). Over the past eight quarters, SmartRent, Inc.'s revenue compounded faster (-15.0% 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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
LADR vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $36.5M |
| Net Profit | $15.9M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | 69.5% | -10.9% |
| Net Margin | 71.0% | -8.9% |
| Revenue YoY | -18.0% | 3.1% |
| Net Profit YoY | -49.4% | 71.6% |
| EPS (diluted) | $0.13 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $27.8M | $36.2M | ||
| Q2 25 | $21.5M | $38.3M | ||
| Q1 25 | $20.3M | $41.3M | ||
| Q4 24 | $27.2M | $35.4M | ||
| Q3 24 | $38.4M | $40.5M | ||
| Q2 24 | $34.3M | $48.5M | ||
| Q1 24 | $37.1M | $50.5M |
| Q4 25 | $15.9M | $-3.2M | ||
| Q3 25 | $19.2M | $-6.3M | ||
| Q2 25 | $17.1M | $-10.9M | ||
| Q1 25 | $11.6M | $-40.2M | ||
| Q4 24 | $31.3M | $-11.4M | ||
| Q3 24 | $27.6M | $-9.9M | ||
| Q2 24 | $32.1M | $-4.6M | ||
| Q1 24 | $16.4M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | 69.5% | -10.9% | ||
| Q3 25 | 72.4% | -19.4% | ||
| Q2 25 | 96.7% | -30.5% | ||
| Q1 25 | 52.7% | -99.9% | ||
| Q4 24 | — | -36.6% | ||
| Q3 24 | 74.1% | -29.0% | ||
| Q2 24 | 90.4% | -14.3% | ||
| Q1 24 | 49.4% | -20.1% |
| Q4 25 | 71.0% | -8.9% | ||
| Q3 25 | 69.0% | -17.3% | ||
| Q2 25 | 79.5% | -28.3% | ||
| Q1 25 | 56.8% | -97.2% | ||
| Q4 24 | 115.1% | -32.3% | ||
| Q3 24 | 71.7% | -24.5% | ||
| Q2 24 | 93.6% | -9.5% | ||
| Q1 24 | 44.2% | -15.2% |
| Q4 25 | $0.13 | $-0.02 | ||
| Q3 25 | $0.15 | $-0.03 | ||
| Q2 25 | $0.14 | $-0.06 | ||
| Q1 25 | $0.09 | $-0.21 | ||
| Q4 24 | $0.25 | $-0.06 | ||
| Q3 24 | $0.22 | $-0.05 | ||
| Q2 24 | $0.26 | $-0.02 | ||
| Q1 24 | $0.13 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $232.1M |
| Total Assets | $5.2B | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $104.5M | ||
| Q3 25 | $49.4M | $100.0M | ||
| Q2 25 | $134.9M | $105.0M | ||
| Q1 25 | $479.8M | $125.6M | ||
| Q4 24 | $1.3B | $142.5M | ||
| Q3 24 | $1.6B | $163.4M | ||
| Q2 24 | $1.2B | $187.4M | ||
| Q1 24 | $1.2B | $204.7M |
| Q4 25 | $1.5B | $232.1M | ||
| Q3 25 | $1.5B | $234.4M | ||
| Q2 25 | $1.5B | $238.8M | ||
| Q1 25 | $1.5B | $250.7M | ||
| Q4 24 | $1.5B | $289.4M | ||
| Q3 24 | $1.5B | $305.1M | ||
| Q2 24 | $1.5B | $329.4M | ||
| Q1 24 | $1.5B | $333.1M |
| Q4 25 | $5.2B | $320.9M | ||
| Q3 25 | $4.7B | $335.8M | ||
| Q2 25 | $4.5B | $354.0M | ||
| Q1 25 | $4.5B | $366.1M | ||
| Q4 24 | $4.8B | $420.2M | ||
| Q3 24 | $4.8B | $448.6M | ||
| Q2 24 | $4.8B | $475.3M | ||
| Q1 24 | $5.3B | $485.5M |
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 | $7.7M |
| Free Cash FlowOCF − Capex | $78.7M | $7.7M |
| FCF MarginFCF / Revenue | 352.4% | 21.0% |
| Capex IntensityCapex / Revenue | 37.4% | 0.0% |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $7.7M | ||
| Q3 25 | $26.3M | $-2.1M | ||
| Q2 25 | $44.0M | $-14.9M | ||
| Q1 25 | $-28.7M | $-12.2M | ||
| Q4 24 | $133.9M | $-12.0M | ||
| Q3 24 | $169.0M | $-3.7M | ||
| Q2 24 | $45.4M | $-13.9M | ||
| Q1 24 | $-20.4M | $-3.3M |
| Q4 25 | $78.7M | $7.7M | ||
| Q3 25 | $25.9M | $-2.2M | ||
| Q2 25 | $43.4M | $-16.2M | ||
| Q1 25 | $-29.6M | $-14.3M | ||
| Q4 24 | $127.4M | $-13.3M | ||
| Q3 24 | $166.0M | $-3.9M | ||
| Q2 24 | $44.9M | $-14.1M | ||
| Q1 24 | $-21.7M | $-3.4M |
| Q4 25 | 352.4% | 21.0% | ||
| Q3 25 | 93.1% | -6.1% | ||
| Q2 25 | 201.6% | -42.3% | ||
| Q1 25 | -145.6% | -34.7% | ||
| Q4 24 | 468.2% | -37.5% | ||
| Q3 24 | 432.1% | -9.7% | ||
| Q2 24 | 131.0% | -29.1% | ||
| Q1 24 | -58.6% | -6.7% |
| Q4 25 | 37.4% | 0.0% | ||
| Q3 25 | 1.7% | 0.2% | ||
| Q2 25 | 2.9% | 3.3% | ||
| Q1 25 | 4.3% | 5.3% | ||
| Q4 24 | 23.9% | 3.5% | ||
| Q3 24 | 7.8% | 0.6% | ||
| Q2 24 | 1.3% | 0.5% | ||
| Q1 24 | 3.7% | 0.1% |
| Q4 25 | 5.49× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | -2.49× | — | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | 6.13× | — | ||
| Q2 24 | 1.41× | — | ||
| Q1 24 | -1.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LADR
Segment breakdown not available.
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
