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Side-by-side financial comparison of LXP Industrial Trust (LXP) and NOVAVAX INC (NVAX). Click either name above to swap in a different company.
NOVAVAX INC is the larger business by last-quarter revenue ($147.3M vs $86.7M, roughly 1.7× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs 11.9%, a 21.3% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs -14.0%). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs 0.3%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
Novavax, Inc., based in Gaithersburg, Maryland, develops vaccines to counter infectious diseases. The company developed the Novavax COVID-19 vaccine, now commercialized by Sanofi. The company also develops vaccines for influenza, respiratory syncytial virus (RSV), avian flu, shingles, Clostridioides difficile, and malaria.
LXP vs NVAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $147.3M |
| Net Profit | $28.8M | $17.5M |
| Gross Margin | 81.5% | 85.0% |
| Operating Margin | 34.6% | 9.7% |
| Net Margin | 33.2% | 11.9% |
| Revenue YoY | -14.0% | 66.8% |
| Net Profit YoY | — | 121.6% |
| EPS (diluted) | — | $0.28 |
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 | $86.7M | $147.3M | ||
| Q3 25 | $86.9M | $70.4M | ||
| Q2 25 | $87.7M | $239.2M | ||
| Q1 25 | $88.9M | $666.5M | ||
| Q4 24 | $100.9M | $88.3M | ||
| Q3 24 | $85.6M | $84.5M | ||
| Q2 24 | $85.8M | $415.5M | ||
| Q1 24 | $86.3M | $93.9M |
| Q4 25 | $28.8M | $17.5M | ||
| Q3 25 | $36.3M | $-202.4M | ||
| Q2 25 | $29.1M | $106.5M | ||
| Q1 25 | $19.0M | $518.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.3M | $-121.3M | ||
| Q2 24 | $5.4M | $162.4M | ||
| Q1 24 | $-269.0K | $-147.6M |
| Q4 25 | 81.5% | 85.0% | ||
| Q3 25 | 82.3% | 69.5% | ||
| Q2 25 | 81.9% | 93.6% | ||
| Q1 25 | 80.7% | 97.9% | ||
| Q4 24 | 85.3% | 58.5% | ||
| Q3 24 | 82.5% | 28.3% | ||
| Q2 24 | 82.0% | 88.9% | ||
| Q1 24 | 82.4% | 36.9% |
| Q4 25 | 34.6% | 9.7% | ||
| Q3 25 | 50.4% | -252.7% | ||
| Q2 25 | 33.7% | 42.2% | ||
| Q1 25 | 21.8% | 77.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | 7.9% | -158.6% | ||
| Q2 24 | 6.9% | 38.7% | ||
| Q1 24 | 1.0% | -154.3% |
| Q4 25 | 33.2% | 11.9% | ||
| Q3 25 | 41.7% | -287.3% | ||
| Q2 25 | 33.2% | 44.5% | ||
| Q1 25 | 21.4% | 77.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 7.4% | -143.5% | ||
| Q2 24 | 6.3% | 39.1% | ||
| Q1 24 | -0.3% | -157.2% |
| Q4 25 | — | $0.28 | ||
| Q3 25 | $0.12 | $-1.25 | ||
| Q2 25 | $0.09 | $0.62 | ||
| Q1 25 | $0.06 | $2.93 | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.02 | $-0.76 | ||
| Q2 24 | $0.01 | $0.99 | ||
| Q1 24 | $-0.01 | $-1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $170.4M | $735.1M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.0B | $-127.8M |
| Total Assets | $3.5B | $1.2B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | $735.1M | ||
| Q3 25 | $229.7M | $762.9M | ||
| Q2 25 | $71.0M | $612.3M | ||
| Q1 25 | $70.9M | $731.5M | ||
| Q4 24 | $101.8M | $923.1M | ||
| Q3 24 | $55.0M | $909.5M | ||
| Q2 24 | $48.7M | $1.0B | ||
| Q1 24 | $293.8M | $480.6M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.0B | $-127.8M | ||
| Q3 25 | $2.1B | $-156.7M | ||
| Q2 25 | $2.1B | $37.6M | ||
| Q1 25 | $2.1B | $-75.6M | ||
| Q4 24 | $2.1B | $-623.8M | ||
| Q3 24 | $2.1B | $-526.4M | ||
| Q2 24 | $2.1B | $-431.7M | ||
| Q1 24 | $2.2B | $-867.1M |
| Q4 25 | $3.5B | $1.2B | ||
| Q3 25 | $3.7B | $1.2B | ||
| Q2 25 | $3.7B | $1.3B | ||
| Q1 25 | $3.8B | $1.3B | ||
| Q4 24 | $3.8B | $1.6B | ||
| Q3 24 | $3.9B | $1.7B | ||
| Q2 24 | $3.9B | $1.8B | ||
| Q1 24 | $4.2B | $1.4B |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $188.7M | $-39.5M |
| Free Cash FlowOCF − Capex | — | $-41.6M |
| FCF MarginFCF / Revenue | — | -28.2% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 6.56× | -2.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-250.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | $-39.5M | ||
| Q3 25 | $63.5M | $107.8M | ||
| Q2 25 | $44.3M | $-127.5M | ||
| Q1 25 | $39.0M | $-185.5M | ||
| Q4 24 | $211.2M | $-87.3M | ||
| Q3 24 | $64.6M | $-144.8M | ||
| Q2 24 | $38.5M | $314.3M | ||
| Q1 24 | $38.9M | $-83.6M |
| Q4 25 | — | $-41.6M | ||
| Q3 25 | — | $105.8M | ||
| Q2 25 | — | $-127.7M | ||
| Q1 25 | — | $-186.7M | ||
| Q4 24 | — | $-100.3M | ||
| Q3 24 | — | $-146.2M | ||
| Q2 24 | — | $311.4M | ||
| Q1 24 | — | $-90.4M |
| Q4 25 | — | -28.2% | ||
| Q3 25 | — | 150.2% | ||
| Q2 25 | — | -53.4% | ||
| Q1 25 | — | -28.0% | ||
| Q4 24 | — | -113.6% | ||
| Q3 24 | — | -173.0% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | -96.4% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | 6.56× | -2.25× | ||
| Q3 25 | 1.75× | — | ||
| Q2 25 | 1.52× | -1.20× | ||
| Q1 25 | 2.05× | -0.36× | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.18× | — | ||
| Q2 24 | 7.09× | 1.94× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
Segment breakdown not available.
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
