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Side-by-side financial comparison of MASIMO CORP (MASI) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $240.4M, roughly 1.5× NNN REIT, INC.). NNN REIT, INC. runs the higher net margin — 39.1% vs -27.0%, a 66.1% gap on every dollar of revenue. On growth, NNN REIT, INC. posted the faster year-over-year revenue change (4.1% vs -26.4%). Over the past eight quarters, NNN REIT, INC.'s revenue compounded faster (5.3% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
MASI vs NNN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $240.4M |
| Net Profit | $-100.4M | $94.0M |
| Gross Margin | 62.1% | — |
| Operating Margin | 22.5% | 61.0% |
| Net Margin | -27.0% | 39.1% |
| Revenue YoY | -26.4% | 4.1% |
| Net Profit YoY | -1124.5% | -2.6% |
| EPS (diluted) | $-1.84 | $0.50 |
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 | — | $240.4M | ||
| Q4 25 | — | $238.4M | ||
| Q3 25 | $371.5M | $230.2M | ||
| Q2 25 | $370.9M | $226.8M | ||
| Q1 25 | $372.0M | $230.9M | ||
| Q4 24 | $600.7M | $218.5M | ||
| Q3 24 | $504.6M | $218.6M | ||
| Q2 24 | $496.3M | $216.8M |
| Q1 26 | — | $94.0M | ||
| Q4 25 | — | $96.0M | ||
| Q3 25 | $-100.4M | $96.8M | ||
| Q2 25 | $51.3M | $100.5M | ||
| Q1 25 | $-170.7M | $96.5M | ||
| Q4 24 | $-349.6M | $97.9M | ||
| Q3 24 | $9.8M | $97.9M | ||
| Q2 24 | $16.0M | $106.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 62.9% | — | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 51.3% | — |
| Q1 26 | — | 61.0% | ||
| Q4 25 | — | 62.3% | ||
| Q3 25 | 22.5% | 64.0% | ||
| Q2 25 | 17.4% | 66.0% | ||
| Q1 25 | 21.0% | 62.3% | ||
| Q4 24 | -59.8% | 65.8% | ||
| Q3 24 | 6.0% | 65.7% | ||
| Q2 24 | 5.7% | 70.2% |
| Q1 26 | — | 39.1% | ||
| Q4 25 | — | 40.2% | ||
| Q3 25 | -27.0% | 42.1% | ||
| Q2 25 | 13.8% | 44.3% | ||
| Q1 25 | -45.9% | 41.8% | ||
| Q4 24 | -58.2% | 44.8% | ||
| Q3 24 | 1.9% | 44.8% | ||
| Q2 24 | 3.2% | 49.2% |
| Q1 26 | — | $0.50 | ||
| Q4 25 | — | $0.51 | ||
| Q3 25 | $-1.84 | $0.51 | ||
| Q2 25 | $0.94 | $0.54 | ||
| Q1 25 | $-3.12 | $0.51 | ||
| Q4 24 | $-6.54 | $0.52 | ||
| Q3 24 | $0.18 | $0.53 | ||
| Q2 24 | $0.29 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $312.3M | $4.6M |
| Total DebtLower is stronger | $559.1M | — |
| Stockholders' EquityBook value | $810.0M | $4.4B |
| Total Assets | $1.8B | $9.4B |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.6M | ||
| Q4 25 | — | $5.0M | ||
| Q3 25 | $312.3M | $157.9M | ||
| Q2 25 | $149.6M | $6.0M | ||
| Q1 25 | $130.8M | $5.1M | ||
| Q4 24 | $177.6M | $8.7M | ||
| Q3 24 | $158.5M | $173.5M | ||
| Q2 24 | $129.6M | $2.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $559.1M | — | ||
| Q2 25 | $613.7M | — | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — |
| Q1 26 | — | $4.4B | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $810.0M | $4.4B | ||
| Q2 25 | $1.0B | $4.4B | ||
| Q1 25 | $946.4M | $4.4B | ||
| Q4 24 | $1.1B | $4.4B | ||
| Q3 24 | $1.5B | $4.4B | ||
| Q2 24 | $1.4B | $4.2B |
| Q1 26 | — | $9.4B | ||
| Q4 25 | — | $9.4B | ||
| Q3 25 | $1.8B | $9.5B | ||
| Q2 25 | $2.4B | $9.1B | ||
| Q1 25 | $2.3B | $9.0B | ||
| Q4 24 | $2.6B | $8.9B | ||
| Q3 24 | $3.1B | $8.9B | ||
| Q2 24 | $2.9B | $8.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — |
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 | $56.8M | — |
| Free Cash FlowOCF − Capex | $50.9M | — |
| FCF MarginFCF / Revenue | 13.7% | — |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $667.1M | ||
| Q3 25 | $56.8M | $218.3M | ||
| Q2 25 | $69.4M | $119.4M | ||
| Q1 25 | $31.1M | $203.3M | ||
| Q4 24 | $50.5M | $635.5M | ||
| Q3 24 | $25.6M | $206.6M | ||
| Q2 24 | $74.5M | $120.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $50.9M | — | ||
| Q2 25 | $65.6M | — | ||
| Q1 25 | $28.5M | — | ||
| Q4 24 | $46.0M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $66.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | 17.7% | — | ||
| Q1 25 | 7.7% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 13.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.95× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | 1.35× | 1.19× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | 2.61× | 2.11× | ||
| Q2 24 | 4.66× | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
