vs
Side-by-side financial comparison of LIQUIDITY SERVICES INC (LQDT) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
LIQUIDITY SERVICES INC is the larger business by last-quarter revenue ($120.7M vs $97.9M, roughly 1.2× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 6.2%, a 22.3% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs 3.7%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (13.6% CAGR vs 2.5%).
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
LQDT vs SAFE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.7M | $97.9M |
| Net Profit | $7.5M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 8.0% | 27.4% |
| Net Margin | 6.2% | 28.5% |
| Revenue YoY | 3.7% | 6.5% |
| Net Profit YoY | 6.7% | 7.1% |
| EPS (diluted) | $0.23 | $0.38 |
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.
| Q1 26 | $120.7M | — | ||
| Q4 25 | $121.2M | $97.9M | ||
| Q3 25 | $118.1M | $96.2M | ||
| Q2 25 | $119.9M | $93.8M | ||
| Q1 25 | $116.4M | $97.7M | ||
| Q4 24 | $122.3M | $91.9M | ||
| Q3 24 | $106.9M | $90.7M | ||
| Q2 24 | $93.6M | $89.9M |
| Q1 26 | $7.5M | — | ||
| Q4 25 | $7.5M | $27.9M | ||
| Q3 25 | $7.8M | $29.3M | ||
| Q2 25 | $7.4M | $27.9M | ||
| Q1 25 | $7.1M | $29.4M | ||
| Q4 24 | $5.8M | $26.0M | ||
| Q3 24 | $6.4M | $19.3M | ||
| Q2 24 | $6.0M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 47.0% | 98.6% | ||
| Q3 25 | 47.8% | 98.5% | ||
| Q2 25 | 45.7% | 99.1% | ||
| Q1 25 | 40.8% | 98.8% | ||
| Q4 24 | 41.0% | 98.8% | ||
| Q3 24 | 45.6% | 98.8% | ||
| Q2 24 | 52.8% | 98.8% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 7.7% | 27.4% | ||
| Q3 25 | 9.3% | 25.9% | ||
| Q2 25 | 8.5% | 25.5% | ||
| Q1 25 | 5.8% | 25.9% | ||
| Q4 24 | 5.8% | 24.6% | ||
| Q3 24 | 6.8% | 17.5% | ||
| Q2 24 | 8.4% | 26.7% |
| Q1 26 | 6.2% | — | ||
| Q4 25 | 6.2% | 28.5% | ||
| Q3 25 | 6.6% | 30.5% | ||
| Q2 25 | 6.2% | 29.8% | ||
| Q1 25 | 6.1% | 30.1% | ||
| Q4 24 | 4.7% | 28.3% | ||
| Q3 24 | 6.0% | 21.3% | ||
| Q2 24 | 6.4% | 33.0% |
| Q1 26 | $0.23 | — | ||
| Q4 25 | $0.23 | $0.38 | ||
| Q3 25 | $0.24 | $0.41 | ||
| Q2 25 | $0.23 | $0.39 | ||
| Q1 25 | $0.22 | $0.41 | ||
| Q4 24 | $0.18 | $0.36 | ||
| Q3 24 | $0.20 | $0.27 | ||
| Q2 24 | $0.19 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $204.0M | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | — | $2.4B |
| Total Assets | $400.4M | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $204.0M | — | ||
| Q4 25 | $11.6M | $21.7M | ||
| Q3 25 | $11.2M | $12.1M | ||
| Q2 25 | $11.4M | $13.9M | ||
| Q1 25 | $10.5M | $17.3M | ||
| Q4 24 | $10.4M | $8.3M | ||
| Q3 24 | $2.3M | $15.6M | ||
| Q2 24 | $6.5M | $13.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | $215.3M | $2.4B | ||
| Q3 25 | $203.2M | $2.4B | ||
| Q2 25 | $208.7M | $2.4B | ||
| Q1 25 | $196.3M | $2.4B | ||
| Q4 24 | $189.2M | $2.3B | ||
| Q3 24 | $182.6M | $2.3B | ||
| Q2 24 | $172.0M | $2.3B |
| Q1 26 | $400.4M | — | ||
| Q4 25 | $369.1M | $7.2B | ||
| Q3 25 | $375.1M | $7.1B | ||
| Q2 25 | $372.4M | $7.1B | ||
| Q1 25 | $358.8M | $6.9B | ||
| Q4 24 | $333.2M | $6.9B | ||
| Q3 24 | $346.9M | $6.8B | ||
| Q2 24 | $325.5M | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× |
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 | $29.0M | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.86× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.0M | — | ||
| Q4 25 | $-526.0K | $47.8M | ||
| Q3 25 | $38.0M | $-1.4M | ||
| Q2 25 | $19.3M | $28.0M | ||
| Q1 25 | $21.6M | $8.9M | ||
| Q4 24 | $-12.1M | $37.9M | ||
| Q3 24 | $22.0M | $8.3M | ||
| Q2 24 | $22.2M | $24.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | — | ||
| Q3 25 | $36.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $19.8M | — | ||
| Q4 24 | $-14.0M | — | ||
| Q3 24 | $19.2M | — | ||
| Q2 24 | $20.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -2.3% | — | ||
| Q3 25 | 30.5% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | -11.4% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 21.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.1% | — |
| Q1 26 | 3.86× | — | ||
| Q4 25 | -0.07× | 1.72× | ||
| Q3 25 | 4.86× | -0.05× | ||
| Q2 25 | 2.60× | 1.00× | ||
| Q1 25 | 3.07× | 0.30× | ||
| Q4 24 | -2.09× | 1.45× | ||
| Q3 24 | 3.45× | 0.43× | ||
| Q2 24 | 3.71× | 0.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
