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Side-by-side financial comparison of MONRO, INC. (MNRO) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
MONRO, INC. is the larger business by last-quarter revenue ($293.4M vs $187.0M, roughly 1.6× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 3.8%, a 8.4% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -4.0%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $9.1M). Over the past eight quarters, National Storage Affiliates Trust's revenue compounded faster (-2.4% CAGR vs -2.7%).
Monro, Inc. is an automotive services company founded and headquartered in Rochester, New York, U.S. As of 2025, Monro has 1,260 locations making them the second-largest automotive services company in North America after Driven Brands by number of locations and by revenue.
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.
MNRO vs NSA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $293.4M | $187.0M |
| Net Profit | $11.1M | $22.9M |
| Gross Margin | 34.9% | 72.5% |
| Operating Margin | 6.3% | 20.2% |
| Net Margin | 3.8% | 12.2% |
| Revenue YoY | -4.0% | -1.6% |
| Net Profit YoY | 143.1% | 36.8% |
| EPS (diluted) | $0.35 | $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 | $293.4M | $187.0M | ||
| Q3 25 | $288.9M | $188.7M | ||
| Q2 25 | $301.0M | $188.8M | ||
| Q1 25 | $295.0M | $188.4M | ||
| Q4 24 | $305.8M | $190.1M | ||
| Q3 24 | $301.4M | $193.6M | ||
| Q2 24 | $293.2M | $190.4M | ||
| Q1 24 | $310.1M | $196.1M |
| Q4 25 | $11.1M | $22.9M | ||
| Q3 25 | $5.7M | $18.4M | ||
| Q2 25 | $-8.1M | $19.5M | ||
| Q1 25 | $-21.3M | $13.0M | ||
| Q4 24 | $4.6M | $16.7M | ||
| Q3 24 | $5.6M | $18.7M | ||
| Q2 24 | $5.9M | $17.1M | ||
| Q1 24 | $3.7M | $59.0M |
| Q4 25 | 34.9% | 72.5% | ||
| Q3 25 | 35.7% | 70.7% | ||
| Q2 25 | 35.5% | 70.5% | ||
| Q1 25 | 33.0% | 70.7% | ||
| Q4 24 | 34.3% | 72.5% | ||
| Q3 24 | 35.3% | 72.8% | ||
| Q2 24 | 37.2% | 72.6% | ||
| Q1 24 | 35.5% | 72.1% |
| Q4 25 | 6.3% | 20.2% | ||
| Q3 25 | 4.4% | 15.8% | ||
| Q2 25 | -2.0% | 16.5% | ||
| Q1 25 | -8.1% | 11.0% | ||
| Q4 24 | 3.3% | 14.5% | ||
| Q3 24 | 4.4% | 15.8% | ||
| Q2 24 | 4.5% | 17.2% | ||
| Q1 24 | 3.3% | 48.9% |
| Q4 25 | 3.8% | 12.2% | ||
| Q3 25 | 2.0% | 9.8% | ||
| Q2 25 | -2.7% | 10.3% | ||
| Q1 25 | -7.2% | 6.9% | ||
| Q4 24 | 1.5% | 8.8% | ||
| Q3 24 | 1.9% | 9.7% | ||
| Q2 24 | 2.0% | 9.0% | ||
| Q1 24 | 1.2% | 30.1% |
| Q4 25 | $0.35 | $0.23 | ||
| Q3 25 | $0.18 | $0.17 | ||
| Q2 25 | $-0.28 | $0.19 | ||
| Q1 25 | $-0.74 | $0.10 | ||
| Q4 24 | $0.15 | $0.19 | ||
| Q3 24 | $0.18 | $0.18 | ||
| Q2 24 | $0.19 | $0.16 | ||
| Q1 24 | $0.12 | $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 | $4.9M | $23.3M |
| Total DebtLower is stronger | $45.0M | — |
| Stockholders' EquityBook value | $604.9M | $946.0M |
| Total Assets | $1.6B | $5.1B |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $23.3M | ||
| Q3 25 | $10.5M | $26.3M | ||
| Q2 25 | $7.8M | $26.1M | ||
| Q1 25 | $20.8M | $19.3M | ||
| Q4 24 | $10.2M | $50.4M | ||
| Q3 24 | $20.9M | $69.9M | ||
| Q2 24 | $18.7M | $59.0M | ||
| Q1 24 | $6.6M | $64.2M |
| Q4 25 | $45.0M | — | ||
| Q3 25 | $60.0M | — | ||
| Q2 25 | $71.5M | — | ||
| Q1 25 | $61.3M | — | ||
| Q4 24 | $59.3M | — | ||
| Q3 24 | $62.0M | — | ||
| Q2 24 | $112.0M | — | ||
| Q1 24 | $102.0M | — |
| Q4 25 | $604.9M | $946.0M | ||
| Q3 25 | $601.7M | $973.1M | ||
| Q2 25 | $604.9M | $1.0B | ||
| Q1 25 | $620.8M | $1.0B | ||
| Q4 24 | $648.9M | $1.1B | ||
| Q3 24 | $651.9M | $986.9M | ||
| Q2 24 | $654.4M | $1.2B | ||
| Q1 24 | $656.8M | $1.3B |
| Q4 25 | $1.6B | $5.1B | ||
| Q3 25 | $1.6B | $5.1B | ||
| Q2 25 | $1.6B | $5.2B | ||
| Q1 25 | $1.6B | $5.3B | ||
| Q4 24 | $1.7B | $5.4B | ||
| Q3 24 | $1.7B | $5.4B | ||
| Q2 24 | $1.7B | $5.3B | ||
| Q1 24 | $1.7B | $5.4B |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | 0.09× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.17× | — | ||
| Q1 24 | 0.16× | — |
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 | $17.8M | $338.5M |
| Free Cash FlowOCF − Capex | $9.1M | $299.8M |
| FCF MarginFCF / Revenue | 3.1% | 160.3% |
| Capex IntensityCapex / Revenue | 3.0% | 20.7% |
| Cash ConversionOCF / Net Profit | 1.60× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $49.6M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.8M | $338.5M | ||
| Q3 25 | $32.3M | $100.2M | ||
| Q2 25 | $-1.9M | $79.9M | ||
| Q1 25 | $28.9M | $85.6M | ||
| Q4 24 | $14.8M | $363.1M | ||
| Q3 24 | $62.6M | $105.7M | ||
| Q2 24 | $25.6M | $83.2M | ||
| Q1 24 | $-5.3M | $94.0M |
| Q4 25 | $9.1M | $299.8M | ||
| Q3 25 | $26.6M | $88.0M | ||
| Q2 25 | $-9.3M | $73.8M | ||
| Q1 25 | $23.2M | $79.9M | ||
| Q4 24 | $7.9M | $344.4M | ||
| Q3 24 | $57.6M | $101.8M | ||
| Q2 24 | $16.8M | $79.5M | ||
| Q1 24 | $-11.9M | $88.6M |
| Q4 25 | 3.1% | 160.3% | ||
| Q3 25 | 9.2% | 46.6% | ||
| Q2 25 | -3.1% | 39.1% | ||
| Q1 25 | 7.9% | 42.4% | ||
| Q4 24 | 2.6% | 181.2% | ||
| Q3 24 | 19.1% | 52.6% | ||
| Q2 24 | 5.7% | 41.7% | ||
| Q1 24 | -3.8% | 45.2% |
| Q4 25 | 3.0% | 20.7% | ||
| Q3 25 | 2.0% | 6.5% | ||
| Q2 25 | 2.5% | 3.2% | ||
| Q1 25 | 1.9% | 3.0% | ||
| Q4 24 | 2.2% | 9.8% | ||
| Q3 24 | 1.6% | 2.0% | ||
| Q2 24 | 3.0% | 1.9% | ||
| Q1 24 | 2.1% | 2.7% |
| Q4 25 | 1.60× | 14.79× | ||
| Q3 25 | 5.71× | 5.44× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 6.59× | ||
| Q4 24 | 3.23× | 21.70× | ||
| Q3 24 | 11.08× | 5.65× | ||
| Q2 24 | 4.37× | 4.88× | ||
| Q1 24 | -1.42× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
NSA
Segment breakdown not available.
