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Side-by-side financial comparison of National Healthcare Properties, Inc. (NHPAP) and Turning Point Brands, Inc. (TPB). Click either name above to swap in a different company.

Turning Point Brands, Inc. is the larger business by last-quarter revenue ($121.0M vs $84.5M, roughly 1.4× National Healthcare Properties, Inc.). Turning Point Brands, Inc. runs the higher net margin — 6.8% vs -27.0%, a 33.8% gap on every dollar of revenue. On growth, Turning Point Brands, Inc. posted the faster year-over-year revenue change (29.2% vs -3.7%). Over the past eight quarters, Turning Point Brands, Inc.'s revenue compounded faster (20.7% CAGR vs -2.2%).

Primary Health Properties plc is a British real estate investment company headquartered in London, England. As of June 2025, the company owns and operates more than 500 primary healthcare facilities within the United Kingdom and Ireland. It is listed on the London Stock Exchange and is also a constituent of the FTSE 250 Index.

Turning Point Australia (TPAUS) is a conservative lobby group based in Australia, affiliated with Turning Point USA but independent of it. Founded by Joel Jammal and first registered in 2023, the group has become active in trying to influence the outcome of the 2026 South Australian state election in March 2026.

NHPAP vs TPB — Head-to-Head

Bigger by revenue
TPB
TPB
1.4× larger
TPB
$121.0M
$84.5M
NHPAP
Growing faster (revenue YoY)
TPB
TPB
+32.9% gap
TPB
29.2%
-3.7%
NHPAP
Higher net margin
TPB
TPB
33.8% more per $
TPB
6.8%
-27.0%
NHPAP
Faster 2-yr revenue CAGR
TPB
TPB
Annualised
TPB
20.7%
-2.2%
NHPAP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NHPAP
NHPAP
TPB
TPB
Revenue
$84.5M
$121.0M
Net Profit
$-22.8M
$8.2M
Gross Margin
36.5%
55.9%
Operating Margin
-7.8%
16.5%
Net Margin
-27.0%
6.8%
Revenue YoY
-3.7%
29.2%
Net Profit YoY
-33.9%
239.8%
EPS (diluted)
$-0.92
$0.40

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
NHPAP
NHPAP
TPB
TPB
Q4 25
$84.5M
$121.0M
Q3 25
$86.0M
$119.0M
Q2 25
$85.3M
$116.6M
Q1 25
$86.4M
$106.4M
Q4 24
$87.7M
$93.7M
Q3 24
$88.9M
$90.7M
Q2 24
$88.8M
$93.2M
Q1 24
$88.3M
$83.1M
Net Profit
NHPAP
NHPAP
TPB
TPB
Q4 25
$-22.8M
$8.2M
Q3 25
$-12.5M
$21.1M
Q2 25
$-20.8M
$14.5M
Q1 25
$-1.5M
$14.4M
Q4 24
$-17.0M
$2.4M
Q3 24
$-40.8M
$12.4M
Q2 24
$-116.9M
$13.0M
Q1 24
$-15.6M
$12.0M
Gross Margin
NHPAP
NHPAP
TPB
TPB
Q4 25
36.5%
55.9%
Q3 25
37.4%
59.2%
Q2 25
36.9%
57.1%
Q1 25
33.4%
56.0%
Q4 24
37.4%
56.0%
Q3 24
36.6%
55.6%
Q2 24
38.1%
54.1%
Q1 24
37.5%
58.2%
Operating Margin
NHPAP
NHPAP
TPB
TPB
Q4 25
-7.8%
16.5%
Q3 25
2.8%
21.8%
Q2 25
-6.5%
22.6%
Q1 25
15.1%
21.8%
Q4 24
-1.2%
19.1%
Q3 24
-23.5%
22.9%
Q2 24
-113.1%
24.5%
Q1 24
-1.3%
23.2%
Net Margin
NHPAP
NHPAP
TPB
TPB
Q4 25
-27.0%
6.8%
Q3 25
-14.6%
17.7%
Q2 25
-24.4%
12.4%
Q1 25
-1.8%
13.5%
Q4 24
-19.4%
2.6%
Q3 24
-45.8%
13.6%
Q2 24
-131.6%
14.0%
Q1 24
-17.6%
14.5%
EPS (diluted)
NHPAP
NHPAP
TPB
TPB
Q4 25
$-0.92
$0.40
Q3 25
$-0.56
$1.13
Q2 25
$-0.85
$0.79
Q1 25
$-0.18
$0.79
Q4 24
$-0.72
$0.15
Q3 24
$-1.56
$0.68
Q2 24
$-4.24
$0.68
Q1 24
$-0.67
$0.63

Balance Sheet & Financial Strength

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

Metric
NHPAP
NHPAP
TPB
TPB
Cash + ST InvestmentsLiquidity on hand
$57.6M
$222.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$600.1M
$372.0M
Total Assets
$1.7B
$763.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NHPAP
NHPAP
TPB
TPB
Q4 25
$57.6M
$222.8M
Q3 25
$47.1M
$201.2M
Q2 25
$47.1M
$109.9M
Q1 25
$71.4M
$99.6M
Q4 24
$21.7M
$48.9M
Q3 24
$32.9M
$33.6M
Q2 24
$29.5M
$142.2M
Q1 24
$28.7M
$130.9M
Stockholders' Equity
NHPAP
NHPAP
TPB
TPB
Q4 25
$600.1M
$372.0M
Q3 25
$627.2M
$358.2M
Q2 25
$647.0M
$224.8M
Q1 25
$674.6M
$203.4M
Q4 24
$684.6M
$190.4M
Q3 24
$702.6M
$185.7M
Q2 24
$756.7M
$172.8M
Q1 24
$877.7M
$160.0M
Total Assets
NHPAP
NHPAP
TPB
TPB
Q4 25
$1.7B
$763.8M
Q3 25
$1.7B
$742.8M
Q2 25
$1.8B
$595.8M
Q1 25
$1.8B
$564.6M
Q4 24
$1.9B
$493.4M
Q3 24
$2.0B
$488.0M
Q2 24
$2.1B
$591.6M
Q1 24
$2.1B
$586.3M

Cash Flow & Capital Efficiency

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

Metric
NHPAP
NHPAP
TPB
TPB
Operating Cash FlowLast quarter
$7.0M
$24.9M
Free Cash FlowOCF − Capex
$21.5M
FCF MarginFCF / Revenue
17.8%
Capex IntensityCapex / Revenue
2.8%
Cash ConversionOCF / Net Profit
3.03×
TTM Free Cash FlowTrailing 4 quarters
$43.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NHPAP
NHPAP
TPB
TPB
Q4 25
$7.0M
$24.9M
Q3 25
$10.2M
$3.3M
Q2 25
$8.1M
$11.8M
Q1 25
$-21.2M
$17.4M
Q4 24
$-79.8M
$17.7M
Q3 24
$-95.2M
$13.2M
Q2 24
$6.4M
$13.4M
Q1 24
$2.5M
$22.6M
Free Cash Flow
NHPAP
NHPAP
TPB
TPB
Q4 25
$21.5M
Q3 25
$-721.0K
Q2 25
$7.8M
Q1 25
$15.2M
Q4 24
$16.6M
Q3 24
$12.6M
Q2 24
$10.9M
Q1 24
$22.3M
FCF Margin
NHPAP
NHPAP
TPB
TPB
Q4 25
17.8%
Q3 25
-0.6%
Q2 25
6.7%
Q1 25
14.3%
Q4 24
17.8%
Q3 24
13.9%
Q2 24
11.7%
Q1 24
26.8%
Capex Intensity
NHPAP
NHPAP
TPB
TPB
Q4 25
2.8%
Q3 25
3.4%
Q2 25
3.4%
Q1 25
2.1%
Q4 24
1.2%
Q3 24
0.7%
Q2 24
2.7%
Q1 24
0.4%
Cash Conversion
NHPAP
NHPAP
TPB
TPB
Q4 25
3.03×
Q3 25
0.16×
Q2 25
0.82×
Q1 25
1.21×
Q4 24
7.34×
Q3 24
1.07×
Q2 24
1.03×
Q1 24
1.89×

Financial Flow Comparison

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

Revenue Breakdown by Segment

NHPAP
NHPAP

Seniors Housing Communities$56.3M67%
Outpatient Medical Facilities$28.1M33%

TPB
TPB

US$111.5M92%
Non Us$9.6M8%

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