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Side-by-side financial comparison of NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $23.6M, roughly 1.5× NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP). SmartRent, Inc. runs the higher net margin — -8.9% vs -677.3%, a 668.4% gap on every dollar of revenue. On growth, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP posted the faster year-over-year revenue change (15.7% vs 3.1%). Over the past eight quarters, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP's revenue compounded faster (8.9% CAGR vs -15.0%).
New England Realty Associates Limited Partnership is a real estate investment entity that owns, operates and manages residential and commercial properties primarily across the U.S. New England region. Its core assets include multifamily apartments, mixed-use properties and small commercial spaces, serving tenants across Massachusetts, New Hampshire and adjacent states, delivering steady returns to unitholders via rental income and property value growth.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
NEN vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.6M | $36.5M |
| Net Profit | $-1.4M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | 14.0% | -10.9% |
| Net Margin | -677.3% | -8.9% |
| Revenue YoY | 15.7% | 3.1% |
| Net Profit YoY | -133.0% | 71.6% |
| EPS (diluted) | — | $-0.02 |
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 | $23.6M | $36.5M | ||
| Q3 25 | $23.7M | $36.2M | ||
| Q2 25 | $21.2M | $38.3M | ||
| Q1 25 | $20.7M | $41.3M | ||
| Q4 24 | $20.4M | $35.4M | ||
| Q3 24 | $20.2M | $40.5M | ||
| Q2 24 | $20.1M | $48.5M | ||
| Q1 24 | $19.9M | $50.5M |
| Q4 25 | $-1.4M | $-3.2M | ||
| Q3 25 | $-521.8K | $-6.3M | ||
| Q2 25 | $4.1M | $-10.9M | ||
| Q1 25 | $3.8M | $-40.2M | ||
| Q4 24 | $4.2M | $-11.4M | ||
| Q3 24 | $3.9M | $-9.9M | ||
| Q2 24 | $4.1M | $-4.6M | ||
| Q1 24 | $3.5M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | 14.0% | -10.9% | ||
| Q3 25 | 20.0% | -19.4% | ||
| Q2 25 | 33.3% | -30.5% | ||
| Q1 25 | 30.1% | -99.9% | ||
| Q4 24 | 32.4% | -36.6% | ||
| Q3 24 | 32.0% | -29.0% | ||
| Q2 24 | 32.6% | -14.3% | ||
| Q1 24 | 28.9% | -20.1% |
| Q4 25 | -677.3% | -8.9% | ||
| Q3 25 | -2.2% | -17.3% | ||
| Q2 25 | 19.5% | -28.3% | ||
| Q1 25 | 18.3% | -97.2% | ||
| Q4 24 | 20.7% | -32.3% | ||
| Q3 24 | 19.3% | -24.5% | ||
| Q2 24 | 20.3% | -9.5% | ||
| Q1 24 | 17.4% | -15.2% |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.06 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | — | $-0.05 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $26.7M | $104.5M |
| Total DebtLower is stronger | $531.0M | — |
| Stockholders' EquityBook value | — | $232.1M |
| Total Assets | $505.3M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $104.5M | ||
| Q3 25 | $13.4M | $100.0M | ||
| Q2 25 | $16.7M | $105.0M | ||
| Q1 25 | $30.9M | $125.6M | ||
| Q4 24 | $17.6M | $142.5M | ||
| Q3 24 | $15.1M | $163.4M | ||
| Q2 24 | $13.5M | $187.4M | ||
| Q1 24 | $28.8M | $204.7M |
| Q4 25 | $531.0M | — | ||
| Q3 25 | $514.2M | — | ||
| Q2 25 | $514.3M | — | ||
| Q1 25 | $407.8M | — | ||
| Q4 24 | $408.6M | — | ||
| Q3 24 | $409.3M | — | ||
| Q2 24 | $410.0M | — | ||
| Q1 24 | $410.7M | — |
| Q4 25 | — | $232.1M | ||
| Q3 25 | — | $234.4M | ||
| Q2 25 | — | $238.8M | ||
| Q1 25 | — | $250.7M | ||
| Q4 24 | — | $289.4M | ||
| Q3 24 | — | $305.1M | ||
| Q2 24 | — | $329.4M | ||
| Q1 24 | — | $333.1M |
| Q4 25 | $505.3M | $320.9M | ||
| Q3 25 | $492.9M | $335.8M | ||
| Q2 25 | $494.8M | $354.0M | ||
| Q1 25 | $385.2M | $366.1M | ||
| Q4 24 | $393.5M | $420.2M | ||
| Q3 24 | $387.4M | $448.6M | ||
| Q2 24 | $383.7M | $475.3M | ||
| Q1 24 | $381.2M | $485.5M |
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 | $27.7M | $7.7M |
| Free Cash FlowOCF − Capex | — | $7.7M |
| FCF MarginFCF / Revenue | — | 21.0% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $7.7M | ||
| Q3 25 | $2.3M | $-2.1M | ||
| Q2 25 | $12.5M | $-14.9M | ||
| Q1 25 | $5.5M | $-12.2M | ||
| Q4 24 | $31.9M | $-12.0M | ||
| Q3 24 | $8.5M | $-3.7M | ||
| Q2 24 | $5.4M | $-13.9M | ||
| Q1 24 | $6.1M | $-3.3M |
| Q4 25 | — | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | $-14.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.02× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 7.57× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 1.77× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NEN
Segment breakdown not available.
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
