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Side-by-side financial comparison of NaaS Technology Inc. (NAAS) and SITE Centers Corp. (SITC). Click either name above to swap in a different company.

NaaS Technology Inc. is the larger business by last-quarter revenue ($25.9M vs $20.5M, roughly 1.3× SITE Centers Corp.). SITE Centers Corp. runs the higher net margin — 657.2% vs -193.3%, a 850.4% gap on every dollar of revenue. On growth, NaaS Technology Inc. posted the faster year-over-year revenue change (121.2% vs -41.4%).

NaaS Technology Inc. is a leading electric vehicle energy service provider based in China. It delivers one-stop solutions covering charging network operation, software and hardware support for charging station operators, and value-added services such as charging location search and payment for EV owners, serving both enterprise and individual customers across domestic and select overseas markets.

SITE Centers Corp. is a publicly traded real estate investment trust that invests in shopping centers. Founded in 1965 by Bert Wolstein, the company is headquartered in Beachwood, Ohio. As of December 31, 2019 the company owned interests in 170 shopping centers in the United States containing 57.0 million square feet and managed 13.2 million square feet for Retail Value Inc. Notable properties wholly owned by the company include Shopper's World in Framingham, Massachusetts. Its major tenants ...

NAAS vs SITC — Head-to-Head

Bigger by revenue
NAAS
NAAS
1.3× larger
NAAS
$25.9M
$20.5M
SITC
Growing faster (revenue YoY)
NAAS
NAAS
+162.6% gap
NAAS
121.2%
-41.4%
SITC
Higher net margin
SITC
SITC
850.4% more per $
SITC
657.2%
-193.3%
NAAS

Income Statement — Q2 FY2024 vs Q4 FY2025

Metric
NAAS
NAAS
SITC
SITC
Revenue
$25.9M
$20.5M
Net Profit
$-50.0M
$134.4M
Gross Margin
29.2%
Operating Margin
-144.2%
Net Margin
-193.3%
657.2%
Revenue YoY
121.2%
-41.4%
Net Profit YoY
18.4%
2409.0%
EPS (diluted)
$-0.02
$2.55

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.

Revenue
NAAS
NAAS
SITC
SITC
Q4 25
$20.5M
Q3 25
$27.1M
Q2 25
$33.5M
Q1 25
$42.6M
Q4 24
$34.9M
Q3 24
$61.0M
Q2 24
$25.9M
$87.5M
Q1 24
$94.1M
Net Profit
NAAS
NAAS
SITC
SITC
Q4 25
$134.4M
Q3 25
$-6.2M
Q2 25
$46.5M
Q1 25
$3.1M
Q4 24
Q3 24
$323.0M
Q2 24
$-50.0M
$238.2M
Q1 24
$-23.6M
Gross Margin
NAAS
NAAS
SITC
SITC
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
29.2%
Q1 24
Operating Margin
NAAS
NAAS
SITC
SITC
Q4 25
Q3 25
-22.0%
Q2 25
Q1 25
7.6%
Q4 24
Q3 24
Q2 24
-144.2%
Q1 24
-34.8%
Net Margin
NAAS
NAAS
SITC
SITC
Q4 25
657.2%
Q3 25
-22.7%
Q2 25
138.9%
Q1 25
7.2%
Q4 24
Q3 24
529.4%
Q2 24
-193.3%
272.2%
Q1 24
-25.0%
EPS (diluted)
NAAS
NAAS
SITC
SITC
Q4 25
$2.55
Q3 25
$-0.13
Q2 25
$0.88
Q1 25
$0.06
Q4 24
Q3 24
$6.07
Q2 24
$-0.02
$4.45
Q1 24
$-0.51

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NAAS
NAAS
SITC
SITC
Cash + ST InvestmentsLiquidity on hand
$24.7M
$119.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$-33.4M
$334.8M
Total Assets
$180.2M
$418.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NAAS
NAAS
SITC
SITC
Q4 25
$119.0M
Q3 25
$128.2M
Q2 25
$153.8M
Q1 25
$58.2M
Q4 24
$54.6M
Q3 24
$1.1B
Q2 24
$24.7M
$1.2B
Q1 24
$551.3M
Stockholders' Equity
NAAS
NAAS
SITC
SITC
Q4 25
$334.8M
Q3 25
$308.3M
Q2 25
$486.7M
Q1 25
$519.6M
Q4 24
$516.7M
Q3 24
$2.7B
Q2 24
$-33.4M
$2.3B
Q1 24
$2.1B
Total Assets
NAAS
NAAS
SITC
SITC
Q4 25
$418.7M
Q3 25
$654.0M
Q2 25
$959.0M
Q1 25
$929.8M
Q4 24
$933.6M
Q3 24
$3.1B
Q2 24
$180.2M
$4.0B
Q1 24
$3.9B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NAAS
NAAS
SITC
SITC
Operating Cash FlowLast quarter
$-25.7M
$19.6M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.15×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NAAS
NAAS
SITC
SITC
Q4 25
$19.6M
Q3 25
$5.2M
Q2 25
$17.2M
Q1 25
$5.7M
Q4 24
$112.0M
Q3 24
$36.8M
Q2 24
$-25.7M
$66.5M
Q1 24
$40.0M
Cash Conversion
NAAS
NAAS
SITC
SITC
Q4 25
0.15×
Q3 25
Q2 25
0.37×
Q1 25
1.86×
Q4 24
Q3 24
0.11×
Q2 24
0.28×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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