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Side-by-side financial comparison of MASIMO CORP (MASI) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $187.0M, roughly 2.0× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -27.0%, a 39.3% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -26.4%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $50.9M). Over the past eight quarters, National Storage Affiliates Trust's revenue compounded faster (-2.4% 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.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
MASI vs NSA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $187.0M |
| Net Profit | $-100.4M | $22.9M |
| Gross Margin | 62.1% | 72.5% |
| Operating Margin | 22.5% | 20.2% |
| Net Margin | -27.0% | 12.2% |
| Revenue YoY | -26.4% | -1.6% |
| Net Profit YoY | -1124.5% | 36.8% |
| EPS (diluted) | $-1.84 | $0.23 |
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 | — | $187.0M | ||
| Q3 25 | $371.5M | $188.7M | ||
| Q2 25 | $370.9M | $188.8M | ||
| Q1 25 | $372.0M | $188.4M | ||
| Q4 24 | $600.7M | $190.1M | ||
| Q3 24 | $504.6M | $193.6M | ||
| Q2 24 | $496.3M | $190.4M | ||
| Q1 24 | $492.8M | $196.1M |
| Q4 25 | — | $22.9M | ||
| Q3 25 | $-100.4M | $18.4M | ||
| Q2 25 | $51.3M | $19.5M | ||
| Q1 25 | $-170.7M | $13.0M | ||
| Q4 24 | $-349.6M | $16.7M | ||
| Q3 24 | $9.8M | $18.7M | ||
| Q2 24 | $16.0M | $17.1M | ||
| Q1 24 | $18.9M | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | 62.1% | 70.7% | ||
| Q2 25 | 62.9% | 70.5% | ||
| Q1 25 | 62.9% | 70.7% | ||
| Q4 24 | 40.7% | 72.5% | ||
| Q3 24 | 52.2% | 72.8% | ||
| Q2 24 | 51.3% | 72.6% | ||
| Q1 24 | 49.0% | 72.1% |
| Q4 25 | — | 20.2% | ||
| Q3 25 | 22.5% | 15.8% | ||
| Q2 25 | 17.4% | 16.5% | ||
| Q1 25 | 21.0% | 11.0% | ||
| Q4 24 | -59.8% | 14.5% | ||
| Q3 24 | 6.0% | 15.8% | ||
| Q2 24 | 5.7% | 17.2% | ||
| Q1 24 | 6.9% | 48.9% |
| Q4 25 | — | 12.2% | ||
| Q3 25 | -27.0% | 9.8% | ||
| Q2 25 | 13.8% | 10.3% | ||
| Q1 25 | -45.9% | 6.9% | ||
| Q4 24 | -58.2% | 8.8% | ||
| Q3 24 | 1.9% | 9.7% | ||
| Q2 24 | 3.2% | 9.0% | ||
| Q1 24 | 3.8% | 30.1% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | $-1.84 | $0.17 | ||
| Q2 25 | $0.94 | $0.19 | ||
| Q1 25 | $-3.12 | $0.10 | ||
| Q4 24 | $-6.54 | $0.19 | ||
| Q3 24 | $0.18 | $0.18 | ||
| Q2 24 | $0.29 | $0.16 | ||
| Q1 24 | $0.35 | $0.65 |
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 | $23.3M |
| Total DebtLower is stronger | $559.1M | — |
| Stockholders' EquityBook value | $810.0M | $946.0M |
| Total Assets | $1.8B | $5.1B |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $312.3M | $26.3M | ||
| Q2 25 | $149.6M | $26.1M | ||
| Q1 25 | $130.8M | $19.3M | ||
| Q4 24 | $177.6M | $50.4M | ||
| Q3 24 | $158.5M | $69.9M | ||
| Q2 24 | $129.6M | $59.0M | ||
| Q1 24 | $157.6M | $64.2M |
| 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 24 | $876.0M | — |
| Q4 25 | — | $946.0M | ||
| Q3 25 | $810.0M | $973.1M | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $946.4M | $1.0B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.5B | $986.9M | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.3B |
| Q4 25 | — | $5.1B | ||
| Q3 25 | $1.8B | $5.1B | ||
| Q2 25 | $2.4B | $5.2B | ||
| Q1 25 | $2.3B | $5.3B | ||
| Q4 24 | $2.6B | $5.4B | ||
| Q3 24 | $3.1B | $5.4B | ||
| Q2 24 | $2.9B | $5.3B | ||
| Q1 24 | $3.0B | $5.4B |
| 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× | — | ||
| Q1 24 | 0.64× | — |
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 | $338.5M |
| Free Cash FlowOCF − Capex | $50.9M | $299.8M |
| FCF MarginFCF / Revenue | 13.7% | 160.3% |
| Capex IntensityCapex / Revenue | 1.6% | 20.7% |
| Cash ConversionOCF / Net Profit | — | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $338.5M | ||
| Q3 25 | $56.8M | $100.2M | ||
| Q2 25 | $69.4M | $79.9M | ||
| Q1 25 | $31.1M | $85.6M | ||
| Q4 24 | $50.5M | $363.1M | ||
| Q3 24 | $25.6M | $105.7M | ||
| Q2 24 | $74.5M | $83.2M | ||
| Q1 24 | $45.8M | $94.0M |
| Q4 25 | — | $299.8M | ||
| Q3 25 | $50.9M | $88.0M | ||
| Q2 25 | $65.6M | $73.8M | ||
| Q1 25 | $28.5M | $79.9M | ||
| Q4 24 | $46.0M | $344.4M | ||
| Q3 24 | $16.9M | $101.8M | ||
| Q2 24 | $66.9M | $79.5M | ||
| Q1 24 | $37.6M | $88.6M |
| Q4 25 | — | 160.3% | ||
| Q3 25 | 13.7% | 46.6% | ||
| Q2 25 | 17.7% | 39.1% | ||
| Q1 25 | 7.7% | 42.4% | ||
| Q4 24 | 7.7% | 181.2% | ||
| Q3 24 | 3.3% | 52.6% | ||
| Q2 24 | 13.5% | 41.7% | ||
| Q1 24 | 7.6% | 45.2% |
| Q4 25 | — | 20.7% | ||
| Q3 25 | 1.6% | 6.5% | ||
| Q2 25 | 1.0% | 3.2% | ||
| Q1 25 | 0.7% | 3.0% | ||
| Q4 24 | 0.7% | 9.8% | ||
| Q3 24 | 1.7% | 2.0% | ||
| Q2 24 | 1.5% | 1.9% | ||
| Q1 24 | 1.7% | 2.7% |
| Q4 25 | — | 14.79× | ||
| Q3 25 | — | 5.44× | ||
| Q2 25 | 1.35× | 4.10× | ||
| Q1 25 | — | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | 2.61× | 5.65× | ||
| Q2 24 | 4.66× | 4.88× | ||
| Q1 24 | 2.42× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
