vs
Side-by-side financial comparison of Ladder Capital Corp (LADR) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
Spok Holdings, Inc is the larger business by last-quarter revenue ($33.9M vs $22.3M, roughly 1.5× Ladder Capital Corp). Ladder Capital Corp runs the higher net margin — 71.0% vs 8.7%, a 62.4% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -18.0%). Ladder Capital Corp produced more free cash flow last quarter ($78.7M vs $10.1M). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% 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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
LADR vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $33.9M |
| Net Profit | $15.9M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 69.5% | 11.6% |
| Net Margin | 71.0% | 8.7% |
| Revenue YoY | -18.0% | -0.1% |
| Net Profit YoY | -49.4% | -19.6% |
| EPS (diluted) | $0.13 | $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 | $33.9M | ||
| Q3 25 | $27.8M | $33.9M | ||
| Q2 25 | $21.5M | $35.7M | ||
| Q1 25 | $20.3M | $36.3M | ||
| Q4 24 | $27.2M | $33.9M | ||
| Q3 24 | $38.4M | $34.9M | ||
| Q2 24 | $34.3M | $34.0M | ||
| Q1 24 | $37.1M | $34.9M |
| Q4 25 | $15.9M | $2.9M | ||
| Q3 25 | $19.2M | $3.2M | ||
| Q2 25 | $17.1M | $4.6M | ||
| Q1 25 | $11.6M | $5.2M | ||
| Q4 24 | $31.3M | $3.6M | ||
| Q3 24 | $27.6M | $3.7M | ||
| Q2 24 | $32.1M | $3.4M | ||
| Q1 24 | $16.4M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 69.5% | 11.6% | ||
| Q3 25 | 72.4% | 12.9% | ||
| Q2 25 | 96.7% | 15.1% | ||
| Q1 25 | 52.7% | 16.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | 74.1% | 14.2% | ||
| Q2 24 | 90.4% | 13.2% | ||
| Q1 24 | 49.4% | 14.0% |
| Q4 25 | 71.0% | 8.7% | ||
| Q3 25 | 69.0% | 9.5% | ||
| Q2 25 | 79.5% | 12.8% | ||
| Q1 25 | 56.8% | 14.3% | ||
| Q4 24 | 115.1% | 10.8% | ||
| Q3 24 | 71.7% | 10.5% | ||
| Q2 24 | 93.6% | 10.1% | ||
| Q1 24 | 44.2% | 12.1% |
| Q4 25 | $0.13 | $0.13 | ||
| Q3 25 | $0.15 | $0.15 | ||
| Q2 25 | $0.14 | $0.22 | ||
| Q1 25 | $0.09 | $0.25 | ||
| Q4 24 | $0.25 | $0.17 | ||
| Q3 24 | $0.22 | $0.18 | ||
| Q2 24 | $0.26 | $0.17 | ||
| Q1 24 | $0.13 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $146.4M |
| Total Assets | $5.2B | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $25.3M | ||
| Q3 25 | $49.4M | $21.4M | ||
| Q2 25 | $134.9M | $20.2M | ||
| Q1 25 | $479.8M | $19.9M | ||
| Q4 24 | $1.3B | $29.1M | ||
| Q3 24 | $1.6B | $27.8M | ||
| Q2 24 | $1.2B | $23.9M | ||
| Q1 24 | $1.2B | $23.3M |
| Q4 25 | $1.5B | $146.4M | ||
| Q3 25 | $1.5B | $148.7M | ||
| Q2 25 | $1.5B | $150.9M | ||
| Q1 25 | $1.5B | $151.7M | ||
| Q4 24 | $1.5B | $154.7M | ||
| Q3 24 | $1.5B | $156.3M | ||
| Q2 24 | $1.5B | $158.2M | ||
| Q1 24 | $1.5B | $160.2M |
| Q4 25 | $5.2B | $206.1M | ||
| Q3 25 | $4.7B | $209.7M | ||
| Q2 25 | $4.5B | $208.7M | ||
| Q1 25 | $4.5B | $204.5M | ||
| Q4 24 | $4.8B | $217.1M | ||
| Q3 24 | $4.8B | $216.8M | ||
| Q2 24 | $4.8B | $216.4M | ||
| Q1 24 | $5.3B | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | $78.7M | $10.1M |
| FCF MarginFCF / Revenue | 352.4% | 29.9% |
| Capex IntensityCapex / Revenue | 37.4% | 4.1% |
| Cash ConversionOCF / Net Profit | 5.49× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $11.5M | ||
| Q3 25 | $26.3M | $8.1M | ||
| Q2 25 | $44.0M | $7.0M | ||
| Q1 25 | $-28.7M | $2.3M | ||
| Q4 24 | $133.9M | $8.4M | ||
| Q3 24 | $169.0M | $11.1M | ||
| Q2 24 | $45.4M | $7.4M | ||
| Q1 24 | $-20.4M | $2.0M |
| Q4 25 | $78.7M | $10.1M | ||
| Q3 25 | $25.9M | $7.6M | ||
| Q2 25 | $43.4M | $6.0M | ||
| Q1 25 | $-29.6M | $1.5M | ||
| Q4 24 | $127.4M | $7.5M | ||
| Q3 24 | $166.0M | $10.3M | ||
| Q2 24 | $44.9M | $6.8M | ||
| Q1 24 | $-21.7M | $1.1M |
| Q4 25 | 352.4% | 29.9% | ||
| Q3 25 | 93.1% | 22.4% | ||
| Q2 25 | 201.6% | 16.8% | ||
| Q1 25 | -145.6% | 4.2% | ||
| Q4 24 | 468.2% | 22.3% | ||
| Q3 24 | 432.1% | 29.4% | ||
| Q2 24 | 131.0% | 20.0% | ||
| Q1 24 | -58.6% | 3.2% |
| Q4 25 | 37.4% | 4.1% | ||
| Q3 25 | 1.7% | 1.6% | ||
| Q2 25 | 2.9% | 2.9% | ||
| Q1 25 | 4.3% | 2.1% | ||
| Q4 24 | 23.9% | 2.5% | ||
| Q3 24 | 7.8% | 2.4% | ||
| Q2 24 | 1.3% | 1.9% | ||
| Q1 24 | 3.7% | 2.5% |
| Q4 25 | 5.49× | 3.93× | ||
| Q3 25 | 1.37× | 2.54× | ||
| Q2 25 | 2.57× | 1.55× | ||
| Q1 25 | -2.49× | 0.43× | ||
| Q4 24 | 4.27× | 2.31× | ||
| Q3 24 | 6.13× | 3.03× | ||
| Q2 24 | 1.41× | 2.17× | ||
| Q1 24 | -1.24× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LADR
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
