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Side-by-side financial comparison of Ladder Capital Corp (LADR) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $13.2M, roughly 1.7× TriSalus Life Sciences, Inc.). Ladder Capital Corp runs the higher net margin — 71.0% vs -73.9%, a 144.9% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs -18.0%). Ladder Capital Corp produced more free cash flow last quarter ($78.7M vs $-2.5M). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% 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.
TriSalus Life Sciences, Inc. is a clinical-stage biotechnology company focused on advancing immuno-oncology and interventional oncology solutions. It develops proprietary targeted drug delivery technologies designed to improve treatment efficacy for patients with liver, pancreatic and other hard-to-treat solid tumors, primarily operating in North American markets via partnerships with clinical care and research institutions.
LADR vs TLSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $13.2M |
| Net Profit | $15.9M | $-9.8M |
| Gross Margin | — | 86.7% |
| Operating Margin | 69.5% | -24.8% |
| Net Margin | 71.0% | -73.9% |
| Revenue YoY | -18.0% | 59.8% |
| Net Profit YoY | -49.4% | 3.5% |
| EPS (diluted) | $0.13 | $-0.22 |
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 | $13.2M | ||
| Q3 25 | $27.8M | $11.6M | ||
| Q2 25 | $21.5M | $11.2M | ||
| Q1 25 | $20.3M | $9.2M | ||
| Q4 24 | $27.2M | $8.3M | ||
| Q3 24 | $38.4M | $7.3M | ||
| Q2 24 | $34.3M | $7.4M | ||
| Q1 24 | $37.1M | $6.5M |
| Q4 25 | $15.9M | $-9.8M | ||
| Q3 25 | $19.2M | $-10.8M | ||
| Q2 25 | $17.1M | $-8.3M | ||
| Q1 25 | $11.6M | $-10.4M | ||
| Q4 24 | $31.3M | $-10.1M | ||
| Q3 24 | $27.6M | $-2.4M | ||
| Q2 24 | $32.1M | $-4.3M | ||
| Q1 24 | $16.4M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 83.5% | ||
| Q2 25 | — | 83.9% | ||
| Q1 25 | — | 83.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 86.3% | ||
| Q2 24 | — | 87.6% | ||
| Q1 24 | — | 85.0% |
| Q4 25 | 69.5% | -24.8% | ||
| Q3 25 | 72.4% | -77.9% | ||
| Q2 25 | 96.7% | -65.4% | ||
| Q1 25 | 52.7% | -79.9% | ||
| Q4 24 | — | -91.8% | ||
| Q3 24 | 74.1% | -118.9% | ||
| Q2 24 | 90.4% | -111.0% | ||
| Q1 24 | 49.4% | -180.8% |
| Q4 25 | 71.0% | -73.9% | ||
| Q3 25 | 69.0% | -93.5% | ||
| Q2 25 | 79.5% | -73.9% | ||
| Q1 25 | 56.8% | -113.2% | ||
| Q4 24 | 115.1% | -122.4% | ||
| Q3 24 | 71.7% | -32.6% | ||
| Q2 24 | 93.6% | -58.8% | ||
| Q1 24 | 44.2% | -204.5% |
| Q4 25 | $0.13 | $-0.22 | ||
| Q3 25 | $0.15 | $-0.96 | ||
| Q2 25 | $0.14 | $-0.27 | ||
| Q1 25 | $0.09 | $-0.39 | ||
| Q4 24 | $0.25 | $-0.38 | ||
| Q3 24 | $0.22 | $-0.12 | ||
| Q2 24 | $0.26 | $-0.21 | ||
| Q1 24 | $0.13 | $-0.60 |
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 | $20.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $-33.9M |
| Total Assets | $5.2B | $35.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $20.4M | ||
| Q3 25 | $49.4M | $22.7M | ||
| Q2 25 | $134.9M | $26.5M | ||
| Q1 25 | $479.8M | $13.0M | ||
| Q4 24 | $1.3B | $8.5M | ||
| Q3 24 | $1.6B | $11.3M | ||
| Q2 24 | $1.2B | $16.5M | ||
| Q1 24 | $1.2B | $4.0M |
| Q4 25 | $1.5B | $-33.9M | ||
| Q3 25 | $1.5B | $-26.7M | ||
| Q2 25 | $1.5B | $-19.4M | ||
| Q1 25 | $1.5B | $-34.4M | ||
| Q4 24 | $1.5B | $-25.9M | ||
| Q3 24 | $1.5B | $-20.4M | ||
| Q2 24 | $1.5B | $-25.3M | ||
| Q1 24 | $1.5B | $-36.0M |
| Q4 25 | $5.2B | $35.3M | ||
| Q3 25 | $4.7B | $36.5M | ||
| Q2 25 | $4.5B | $41.3M | ||
| Q1 25 | $4.5B | $28.6M | ||
| Q4 24 | $4.8B | $24.0M | ||
| Q3 24 | $4.8B | $27.5M | ||
| Q2 24 | $4.8B | $32.4M | ||
| Q1 24 | $5.3B | $17.9M |
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 | $-2.5M |
| Free Cash FlowOCF − Capex | $78.7M | $-2.5M |
| FCF MarginFCF / Revenue | 352.4% | -19.1% |
| Capex IntensityCapex / Revenue | 37.4% | 0.3% |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $-2.5M | ||
| Q3 25 | $26.3M | $-3.7M | ||
| Q2 25 | $44.0M | $-7.3M | ||
| Q1 25 | $-28.7M | $-4.5M | ||
| Q4 24 | $133.9M | $-5.7M | ||
| Q3 24 | $169.0M | $-10.8M | ||
| Q2 24 | $45.4M | $-13.4M | ||
| Q1 24 | $-20.4M | $-10.9M |
| Q4 25 | $78.7M | $-2.5M | ||
| Q3 25 | $25.9M | $-3.9M | ||
| Q2 25 | $43.4M | $-7.4M | ||
| Q1 25 | $-29.6M | $-5.3M | ||
| Q4 24 | $127.4M | $-5.8M | ||
| Q3 24 | $166.0M | $-11.0M | ||
| Q2 24 | $44.9M | $-13.5M | ||
| Q1 24 | $-21.7M | $-10.9M |
| Q4 25 | 352.4% | -19.1% | ||
| Q3 25 | 93.1% | -33.9% | ||
| Q2 25 | 201.6% | -66.1% | ||
| Q1 25 | -145.6% | -57.3% | ||
| Q4 24 | 468.2% | -69.7% | ||
| Q3 24 | 432.1% | -149.9% | ||
| Q2 24 | 131.0% | -183.1% | ||
| Q1 24 | -58.6% | -169.3% |
| Q4 25 | 37.4% | 0.3% | ||
| Q3 25 | 1.7% | 1.9% | ||
| Q2 25 | 2.9% | 0.8% | ||
| Q1 25 | 4.3% | 8.2% | ||
| Q4 24 | 23.9% | 0.6% | ||
| Q3 24 | 7.8% | 2.3% | ||
| Q2 24 | 1.3% | 0.8% | ||
| Q1 24 | 3.7% | 1.0% |
| 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.
