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Side-by-side financial comparison of TPG Mortgage Investment Trust, Inc. (MITT) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
Spok Holdings, Inc is the larger business by last-quarter revenue ($33.9M vs $20.4M, roughly 1.7× TPG Mortgage Investment Trust, Inc.). TPG Mortgage Investment Trust, Inc. runs the higher net margin — 65.0% vs 8.7%, a 56.3% gap on every dollar of revenue. On growth, TPG Mortgage Investment Trust, Inc. posted the faster year-over-year revenue change (17.7% vs -0.1%). Over the past eight quarters, TPG Mortgage Investment Trust, Inc.'s revenue compounded faster (9.1% CAGR vs -1.5%).
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
MITT vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.4M | $33.9M |
| Net Profit | $13.3M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 67.1% | 11.6% |
| Net Margin | 65.0% | 8.7% |
| Revenue YoY | 17.7% | -0.1% |
| Net Profit YoY | -7.0% | -19.6% |
| EPS (diluted) | $0.27 | $0.13 |
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 | $20.4M | $33.9M | ||
| Q3 25 | $19.5M | $33.9M | ||
| Q2 25 | $17.8M | $35.7M | ||
| Q1 25 | $18.8M | $36.3M | ||
| Q4 24 | $17.4M | $33.9M | ||
| Q3 24 | $14.9M | $34.9M | ||
| Q2 24 | $16.4M | $34.0M | ||
| Q1 24 | $17.2M | $34.9M |
| Q4 25 | $13.3M | $2.9M | ||
| Q3 25 | $20.0M | $3.2M | ||
| Q2 25 | $3.9M | $4.6M | ||
| Q1 25 | $11.5M | $5.2M | ||
| Q4 24 | $14.3M | $3.6M | ||
| Q3 24 | $16.6M | $3.7M | ||
| Q2 24 | $3.9M | $3.4M | ||
| Q1 24 | $20.9M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 67.1% | 11.6% | ||
| Q3 25 | — | 12.9% | ||
| Q2 25 | 20.9% | 15.1% | ||
| Q1 25 | 54.6% | 16.6% | ||
| Q4 24 | 76.7% | 13.7% | ||
| Q3 24 | — | 14.2% | ||
| Q2 24 | 18.4% | 13.2% | ||
| Q1 24 | — | 14.0% |
| Q4 25 | 65.0% | 8.7% | ||
| Q3 25 | 102.5% | 9.5% | ||
| Q2 25 | 22.2% | 12.8% | ||
| Q1 25 | 60.9% | 14.3% | ||
| Q4 24 | 82.2% | 10.8% | ||
| Q3 24 | 111.3% | 10.5% | ||
| Q2 24 | 24.0% | 10.1% | ||
| Q1 24 | 121.6% | 12.1% |
| Q4 25 | $0.27 | $0.13 | ||
| Q3 25 | $0.47 | $0.15 | ||
| Q2 25 | $-0.05 | $0.22 | ||
| Q1 25 | $0.21 | $0.25 | ||
| Q4 24 | $0.30 | $0.17 | ||
| Q3 24 | $0.40 | $0.18 | ||
| Q2 24 | $-0.02 | $0.17 | ||
| Q1 24 | $0.55 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $57.8M | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $560.7M | $146.4M |
| Total Assets | $8.7B | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.8M | $25.3M | ||
| Q3 25 | $59.0M | $21.4M | ||
| Q2 25 | $88.7M | $20.2M | ||
| Q1 25 | $115.5M | $19.9M | ||
| Q4 24 | $118.7M | $29.1M | ||
| Q3 24 | $102.5M | $27.8M | ||
| Q2 24 | $120.9M | $23.9M | ||
| Q1 24 | $100.3M | $23.3M |
| Q4 25 | $560.7M | $146.4M | ||
| Q3 25 | $559.8M | $148.7M | ||
| Q2 25 | $536.4M | $150.9M | ||
| Q1 25 | $543.9M | $151.7M | ||
| Q4 24 | $543.4M | $154.7M | ||
| Q3 24 | $540.1M | $156.3M | ||
| Q2 24 | $533.5M | $158.2M | ||
| Q1 24 | $539.6M | $160.2M |
| Q4 25 | $8.7B | $206.1M | ||
| Q3 25 | $9.0B | $209.7M | ||
| Q2 25 | $7.5B | $208.7M | ||
| Q1 25 | $7.3B | $204.5M | ||
| Q4 24 | $6.9B | $217.1M | ||
| Q3 24 | $7.0B | $216.8M | ||
| Q2 24 | $7.1B | $216.4M | ||
| Q1 24 | $6.4B | $215.0M |
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 | $59.6M | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | — | 4.1% |
| Cash ConversionOCF / Net Profit | 4.48× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.6M | $11.5M | ||
| Q3 25 | $17.4M | $8.1M | ||
| Q2 25 | $11.5M | $7.0M | ||
| Q1 25 | $12.0M | $2.3M | ||
| Q4 24 | $55.8M | $8.4M | ||
| Q3 24 | $14.5M | $11.1M | ||
| Q2 24 | $13.7M | $7.4M | ||
| Q1 24 | $12.0M | $2.0M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $6.8M | ||
| Q1 24 | — | $1.1M |
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 4.48× | 3.93× | ||
| Q3 25 | 0.87× | 2.54× | ||
| Q2 25 | 2.92× | 1.55× | ||
| Q1 25 | 1.05× | 0.43× | ||
| Q4 24 | 3.91× | 2.31× | ||
| Q3 24 | 0.87× | 3.03× | ||
| Q2 24 | 3.50× | 2.17× | ||
| Q1 24 | 0.57× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MITT
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
