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Side-by-side financial comparison of MODIV INDUSTRIAL, INC. (MDV) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $11.1M, roughly 1.3× MODIV INDUSTRIAL, INC.). MODIV INDUSTRIAL, INC. runs the higher net margin — 11.0% vs -2.0%, a 12.9% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs -5.6%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs -3.8%).
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
MDV vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $11.1M | $14.9M |
| Net Profit | $1.2M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | 45.8% | 29.0% |
| Net Margin | 11.0% | -2.0% |
| Revenue YoY | -5.6% | 13.2% |
| Net Profit YoY | -22.0% | — |
| EPS (diluted) | $0.02 | $-0.01 |
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 | — | $14.9M | ||
| Q4 25 | $11.1M | $14.8M | ||
| Q3 25 | $11.7M | $14.1M | ||
| Q2 25 | $11.8M | $13.2M | ||
| Q1 25 | $11.8M | $13.1M | ||
| Q4 24 | $11.7M | $13.2M | ||
| Q3 24 | $11.7M | $12.1M | ||
| Q2 24 | $11.4M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $1.2M | $1.2M | ||
| Q3 25 | $1.0M | $54.0K | ||
| Q2 25 | $-2.0M | $-670.0K | ||
| Q1 25 | $829.0K | $-1.2M | ||
| Q4 24 | $1.6M | $1.2M | ||
| Q3 24 | $-587.0K | $2.3M | ||
| Q2 24 | $1.3M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 50.8% | ||
| Q3 25 | — | 51.3% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | 45.8% | -7.2% | ||
| Q3 25 | 41.4% | -11.0% | ||
| Q2 25 | 9.8% | -14.9% | ||
| Q1 25 | 40.2% | -14.7% | ||
| Q4 24 | 45.4% | -11.8% | ||
| Q3 24 | 42.0% | -17.5% | ||
| Q2 24 | 44.6% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 11.0% | 8.1% | ||
| Q3 25 | 9.0% | 0.4% | ||
| Q2 25 | -17.1% | -5.1% | ||
| Q1 25 | 7.0% | -8.9% | ||
| Q4 24 | 13.3% | 9.2% | ||
| Q3 24 | -5.0% | 18.8% | ||
| Q2 24 | 11.6% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.02 | $0.05 | ||
| Q3 25 | $0.00 | $0.00 | ||
| Q2 25 | $-0.32 | $-0.03 | ||
| Q1 25 | $-0.01 | $-0.05 | ||
| Q4 24 | $0.07 | $0.07 | ||
| Q3 24 | $-0.18 | $0.10 | ||
| Q2 24 | $0.03 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $14.4M | $40.5M |
| Total DebtLower is stronger | $261.5M | — |
| Stockholders' EquityBook value | $162.7M | $70.2M |
| Total Assets | $476.5M | $83.2M |
| Debt / EquityLower = less leverage | 1.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $14.4M | $44.5M | ||
| Q3 25 | $8.3M | $45.3M | ||
| Q2 25 | $5.8M | $45.0M | ||
| Q1 25 | $6.2M | $42.2M | ||
| Q4 24 | $11.5M | $42.1M | ||
| Q3 24 | $6.8M | $39.6M | ||
| Q2 24 | $18.9M | $36.8M |
| Q1 26 | — | — | ||
| Q4 25 | $261.5M | — | ||
| Q3 25 | $279.7M | — | ||
| Q2 25 | $279.7M | — | ||
| Q1 25 | $279.7M | — | ||
| Q4 24 | $279.8M | — | ||
| Q3 24 | $279.7M | — | ||
| Q2 24 | $279.7M | — |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $162.7M | $68.9M | ||
| Q3 25 | $164.8M | $65.8M | ||
| Q2 25 | $165.6M | $64.1M | ||
| Q1 25 | $171.1M | $63.0M | ||
| Q4 24 | $190.1M | $62.6M | ||
| Q3 24 | $186.3M | $59.3M | ||
| Q2 24 | $187.0M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $476.5M | $84.6M | ||
| Q3 25 | $499.6M | $80.3M | ||
| Q2 25 | $498.9M | $78.9M | ||
| Q1 25 | $506.8M | $80.2M | ||
| Q4 24 | $507.8M | $77.8M | ||
| Q3 24 | $507.4M | $72.6M | ||
| Q2 24 | $519.5M | $64.6M |
| Q1 26 | — | — | ||
| Q4 25 | 1.61× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.69× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 1.50× | — |
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 | $15.0M | $570.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 12.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $15.0M | $2.6M | ||
| Q3 25 | $4.1M | $881.0K | ||
| Q2 25 | $3.9M | $5.0M | ||
| Q1 25 | $3.0M | $1.4M | ||
| Q4 24 | $18.2M | $3.8M | ||
| Q3 24 | $5.1M | $2.8M | ||
| Q2 24 | $4.7M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 12.34× | 2.19× | ||
| Q3 25 | 3.95× | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.68× | — | ||
| Q4 24 | 11.72× | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | 3.55× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MDV
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
