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Side-by-side financial comparison of NaaS Technology Inc. (NAAS) and TIMBERLAND BANCORP INC (TSBK). Click either name above to swap in a different company.

NaaS Technology Inc. is the larger business by last-quarter revenue ($25.9M vs $21.7M, roughly 1.2× TIMBERLAND BANCORP INC). TIMBERLAND BANCORP INC runs the higher net margin — 37.8% vs -193.3%, a 231.1% gap on every dollar of revenue. On growth, NaaS Technology Inc. posted the faster year-over-year revenue change (121.2% vs 10.4%).

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.

Timberland Bancorp Inc is a U.S.-based bank holding company operating primarily across Washington state. It provides a full range of personal and commercial banking services including checking and savings accounts, residential and commercial mortgages, small business loans, and wealth management solutions for local retail and small to mid-sized business clients.

NAAS vs TSBK — Head-to-Head

Bigger by revenue
NAAS
NAAS
1.2× larger
NAAS
$25.9M
$21.7M
TSBK
Growing faster (revenue YoY)
NAAS
NAAS
+110.8% gap
NAAS
121.2%
10.4%
TSBK
Higher net margin
TSBK
TSBK
231.1% more per $
TSBK
37.8%
-193.3%
NAAS

Income Statement — Q2 FY2024 vs Q1 FY2026

Metric
NAAS
NAAS
TSBK
TSBK
Revenue
$25.9M
$21.7M
Net Profit
$-50.0M
$8.2M
Gross Margin
29.2%
Operating Margin
-144.2%
Net Margin
-193.3%
37.8%
Revenue YoY
121.2%
10.4%
Net Profit YoY
18.4%
19.8%
EPS (diluted)
$-0.02
$1.04

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
TSBK
TSBK
Q4 25
$21.7M
Q3 25
$22.5M
Q2 25
$20.5M
Q1 25
$19.9M
Q4 24
$19.7M
Q3 24
$19.5M
Q2 24
$25.9M
$18.8M
Q1 24
$18.3M
Net Profit
NAAS
NAAS
TSBK
TSBK
Q4 25
$8.2M
Q3 25
$8.4M
Q2 25
$7.1M
Q1 25
$6.8M
Q4 24
$6.9M
Q3 24
$6.4M
Q2 24
$-50.0M
$5.9M
Q1 24
$5.7M
Gross Margin
NAAS
NAAS
TSBK
TSBK
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
29.2%
Q1 24
Operating Margin
NAAS
NAAS
TSBK
TSBK
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
-144.2%
Q1 24
Net Margin
NAAS
NAAS
TSBK
TSBK
Q4 25
37.8%
Q3 25
37.6%
Q2 25
34.6%
Q1 25
33.9%
Q4 24
34.9%
Q3 24
32.6%
Q2 24
-193.3%
31.6%
Q1 24
31.3%
EPS (diluted)
NAAS
NAAS
TSBK
TSBK
Q4 25
$1.04
Q3 25
$1.06
Q2 25
$0.90
Q1 25
$0.85
Q4 24
$0.86
Q3 24
$0.80
Q2 24
$-0.02
$0.74
Q1 24
$0.70

Balance Sheet & Financial Strength

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

Metric
NAAS
NAAS
TSBK
TSBK
Cash + ST InvestmentsLiquidity on hand
$24.7M
$246.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$-33.4M
$268.4M
Total Assets
$180.2M
$2.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NAAS
NAAS
TSBK
TSBK
Q4 25
$246.9M
Q3 25
$243.4M
Q2 25
$193.6M
Q1 25
$191.2M
Q4 24
$164.1M
Q3 24
$164.7M
Q2 24
$24.7M
$158.9M
Q1 24
$180.3M
Stockholders' Equity
NAAS
NAAS
TSBK
TSBK
Q4 25
$268.4M
Q3 25
$262.6M
Q2 25
$256.7M
Q1 25
$252.5M
Q4 24
$249.2M
Q3 24
$245.4M
Q2 24
$-33.4M
$241.2M
Q1 24
$238.7M
Total Assets
NAAS
NAAS
TSBK
TSBK
Q4 25
$2.0B
Q3 25
$2.0B
Q2 25
$2.0B
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.9B
Q2 24
$180.2M
$1.9B
Q1 24
$1.9B

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
TSBK
TSBK
Operating Cash FlowLast quarter
$-25.7M
$6.1M
Free Cash FlowOCF − Capex
$5.6M
FCF MarginFCF / Revenue
25.7%
Capex IntensityCapex / Revenue
2.3%
Cash ConversionOCF / Net Profit
0.74×
TTM Free Cash FlowTrailing 4 quarters
$56.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NAAS
NAAS
TSBK
TSBK
Q4 25
$6.1M
Q3 25
$30.2M
Q2 25
$10.8M
Q1 25
$12.4M
Q4 24
$-3.1M
Q3 24
$23.0M
Q2 24
$-25.7M
$7.4M
Q1 24
$4.1M
Free Cash Flow
NAAS
NAAS
TSBK
TSBK
Q4 25
$5.6M
Q3 25
$28.4M
Q2 25
$10.3M
Q1 25
$12.2M
Q4 24
$-3.6M
Q3 24
$21.7M
Q2 24
$7.2M
Q1 24
$3.6M
FCF Margin
NAAS
NAAS
TSBK
TSBK
Q4 25
25.7%
Q3 25
126.4%
Q2 25
50.5%
Q1 25
61.1%
Q4 24
-18.1%
Q3 24
111.5%
Q2 24
38.4%
Q1 24
19.8%
Capex Intensity
NAAS
NAAS
TSBK
TSBK
Q4 25
2.3%
Q3 25
7.7%
Q2 25
2.1%
Q1 25
1.0%
Q4 24
2.6%
Q3 24
6.7%
Q2 24
1.1%
Q1 24
2.7%
Cash Conversion
NAAS
NAAS
TSBK
TSBK
Q4 25
0.74×
Q3 25
3.57×
Q2 25
1.52×
Q1 25
1.83×
Q4 24
-0.45×
Q3 24
3.62×
Q2 24
1.25×
Q1 24
0.72×

Financial Flow Comparison

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

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