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Side-by-side financial comparison of SemiLEDs Corp (LEDS) and NORTH EUROPEAN OIL ROYALTY TRUST (NRT). Click either name above to swap in a different company.

SemiLEDs Corp is the larger business by last-quarter revenue ($2.6M vs $2.2M, roughly 1.2× NORTH EUROPEAN OIL ROYALTY TRUST). NORTH EUROPEAN OIL ROYALTY TRUST runs the higher net margin — 87.2% vs -28.9%, a 116.1% gap on every dollar of revenue. On growth, NORTH EUROPEAN OIL ROYALTY TRUST posted the faster year-over-year revenue change (329.5% vs 103.7%).

SEMI is an industry association comprising companies involved in the electronics design and manufacturing supply chain. They provide equipment, materials and services for the manufacture of semiconductors, photovoltaic panels, LED and flat panel displays, micro-electromechanical systems (MEMS), printed and flexible electronics, and related micro and nano-technologies.

North European Oil Royalty Trust is a publicly traded royalty trust holding overriding royalty interests in North Sea oil and gas producing properties. It earns revenue from its assets' production sales, distributing nearly all net income to unitholders regularly, with no active drilling or exploration operations.

LEDS vs NRT — Head-to-Head

Bigger by revenue
LEDS
LEDS
1.2× larger
LEDS
$2.6M
$2.2M
NRT
Growing faster (revenue YoY)
NRT
NRT
+225.8% gap
NRT
329.5%
103.7%
LEDS
Higher net margin
NRT
NRT
116.1% more per $
NRT
87.2%
-28.9%
LEDS

Income Statement — Q1 FY2026 vs Q1 FY2026

Metric
LEDS
LEDS
NRT
NRT
Revenue
$2.6M
$2.2M
Net Profit
$-742.0K
$1.9M
Gross Margin
0.7%
Operating Margin
-39.4%
Net Margin
-28.9%
87.2%
Revenue YoY
103.7%
329.5%
Net Profit YoY
-35.6%
581.3%
EPS (diluted)
$-0.09

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
LEDS
LEDS
NRT
NRT
Q1 26
$2.2M
Q4 25
$2.6M
Q3 25
$13.2M
Q2 25
$17.7M
Q1 25
$10.9M
$519.4K
Q4 24
$1.3M
Q3 24
$1.3M
Q2 24
$1.3M
Net Profit
LEDS
LEDS
NRT
NRT
Q1 26
$1.9M
Q4 25
$-742.0K
Q3 25
$-1.2M
Q2 25
$223.0K
Q1 25
$388.0K
$285.5K
Q4 24
$-547.0K
Q3 24
Q2 24
$-319.0K
Gross Margin
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
0.7%
Q3 25
1.7%
Q2 25
5.3%
Q1 25
9.2%
Q4 24
20.6%
Q3 24
11.6%
Q2 24
41.0%
Operating Margin
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
-39.4%
Q3 25
-9.0%
Q2 25
-0.4%
Q1 25
1.0%
Q4 24
-52.1%
Q3 24
Q2 24
-35.8%
Net Margin
LEDS
LEDS
NRT
NRT
Q1 26
87.2%
Q4 25
-28.9%
Q3 25
-9.0%
Q2 25
1.3%
Q1 25
3.6%
55.0%
Q4 24
-43.4%
Q3 24
Q2 24
-24.1%
EPS (diluted)
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
$-0.09
Q3 25
$-0.15
Q2 25
$0.03
Q1 25
$0.05
Q4 24
$-0.08
Q3 24
Q2 24
$-0.04

Balance Sheet & Financial Strength

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

Metric
LEDS
LEDS
NRT
NRT
Cash + ST InvestmentsLiquidity on hand
$2.9M
$3.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.1M
Total Assets
$14.2M
$3.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LEDS
LEDS
NRT
NRT
Q1 26
$3.9M
Q4 25
$2.9M
Q3 25
$2.6M
Q2 25
$2.4M
Q1 25
$2.4M
Q4 24
$1.2M
Q3 24
$1.7M
Q2 24
$1.7M
Total Debt
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
Q3 25
$1.7M
Q2 25
Q1 25
Q4 24
Q3 24
$3.7M
Q2 24
Stockholders' Equity
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
$2.1M
Q3 25
$2.8M
Q2 25
$4.0M
Q1 25
$3.6M
Q4 24
$1.6M
Q3 24
$2.2M
Q2 24
$2.7M
Total Assets
LEDS
LEDS
NRT
NRT
Q1 26
$3.9M
Q4 25
$14.2M
Q3 25
$15.6M
Q2 25
$23.2M
Q1 25
$23.2M
Q4 24
$10.4M
Q3 24
$11.1M
Q2 24
$11.5M
Debt / Equity
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
Q3 25
0.61×
Q2 25
Q1 25
Q4 24
Q3 24
1.69×
Q2 24

Cash Flow & Capital Efficiency

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

Metric
LEDS
LEDS
NRT
NRT
Operating Cash FlowLast quarter
$361.0K
Free Cash FlowOCF − Capex
$331.0K
FCF MarginFCF / Revenue
12.9%
Capex IntensityCapex / Revenue
1.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
$361.0K
Q3 25
Q2 25
$693.0K
Q1 25
$1.4M
Q4 24
$-158.0K
Q3 24
Q2 24
$109.0K
Free Cash Flow
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
$331.0K
Q3 25
Q2 25
$383.0K
Q1 25
$1.3M
Q4 24
$-276.0K
Q3 24
Q2 24
$98.0K
FCF Margin
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
12.9%
Q3 25
Q2 25
2.2%
Q1 25
11.8%
Q4 24
-21.9%
Q3 24
Q2 24
7.4%
Capex Intensity
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
1.2%
Q3 25
0.2%
Q2 25
1.8%
Q1 25
1.1%
Q4 24
9.4%
Q3 24
9.3%
Q2 24
0.8%
Cash Conversion
LEDS
LEDS
NRT
NRT
Q1 26
Q4 25
Q3 25
Q2 25
3.11×
Q1 25
3.62×
Q4 24
Q3 24
Q2 24

Financial Flow Comparison

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

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