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Side-by-side financial comparison of Net Lease Office Properties (NLOP) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $30.7M, roughly 1.6× Net Lease Office Properties). Net Lease Office Properties runs the higher net margin — -0.2% vs -5.1%, a 4.9% gap on every dollar of revenue. On growth, Net Lease Office Properties posted the faster year-over-year revenue change (10.9% vs -14.2%). Over the past eight quarters, READING INTERNATIONAL INC's revenue compounded faster (5.6% CAGR vs -16.4%).
Net Lease Office Properties is a real estate investment entity focused on acquiring, owning, and operating high-quality single-tenant net lease office assets, primarily located across the United States. It delivers stable, long-term income streams to investors through its curated portfolio of commercial real estate holdings.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
NLOP vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.7M | $50.3M |
| Net Profit | $-53.0K | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | -0.2% | -1.9% |
| Net Margin | -0.2% | -5.1% |
| Revenue YoY | 10.9% | -14.2% |
| Net Profit YoY | 99.9% | -14.5% |
| EPS (diluted) | $-0.01 | $-0.11 |
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 | $30.7M | $50.3M | ||
| Q3 25 | $29.8M | $52.2M | ||
| Q2 25 | $29.2M | $60.4M | ||
| Q1 25 | $29.2M | $40.2M | ||
| Q4 24 | $27.7M | $58.6M | ||
| Q3 24 | $31.5M | $60.1M | ||
| Q2 24 | $39.0M | $46.8M | ||
| Q1 24 | $44.0M | $45.1M |
| Q4 25 | $-53.0K | $-2.6M | ||
| Q3 25 | $-64.2M | $-4.2M | ||
| Q2 25 | $-81.5M | $-2.7M | ||
| Q1 25 | $492.0K | $-4.8M | ||
| Q4 24 | $-35.8M | $-2.2M | ||
| Q3 24 | $-40.3M | $-7.0M | ||
| Q2 24 | $12.5M | $-12.8M | ||
| Q1 24 | $-27.8M | $-13.2M |
| Q4 25 | -0.2% | -1.9% | ||
| Q3 25 | -215.2% | -0.6% | ||
| Q2 25 | -279.1% | 4.8% | ||
| Q1 25 | 2.0% | -17.2% | ||
| Q4 24 | -140.7% | 2.6% | ||
| Q3 24 | -126.4% | -0.6% | ||
| Q2 24 | 32.3% | -16.4% | ||
| Q1 24 | -62.7% | -16.7% |
| Q4 25 | -0.2% | -5.1% | ||
| Q3 25 | -215.4% | -8.0% | ||
| Q2 25 | -279.5% | -4.4% | ||
| Q1 25 | 1.7% | -11.8% | ||
| Q4 24 | -129.0% | -3.8% | ||
| Q3 24 | -128.0% | -11.7% | ||
| Q2 24 | 31.9% | -27.4% | ||
| Q1 24 | -63.3% | -29.4% |
| Q4 25 | $-0.01 | $-0.11 | ||
| Q3 25 | $-4.33 | $-0.18 | ||
| Q2 25 | $-5.50 | $-0.12 | ||
| Q1 25 | $0.03 | $-0.21 | ||
| Q4 24 | $-2.41 | $-0.11 | ||
| Q3 24 | $-2.73 | $-0.31 | ||
| Q2 24 | $0.84 | $-0.57 | ||
| Q1 24 | $-1.88 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $119.6M | $10.5M |
| Total DebtLower is stronger | $21.9M | $185.1M |
| Stockholders' EquityBook value | $293.9M | $-18.2M |
| Total Assets | $453.4M | $434.9M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $119.6M | $10.5M | ||
| Q3 25 | $38.7M | $8.1M | ||
| Q2 25 | $54.1M | $9.1M | ||
| Q1 25 | $28.2M | $5.9M | ||
| Q4 24 | $25.1M | $12.4M | ||
| Q3 24 | $36.1M | $10.1M | ||
| Q2 24 | $36.1M | $9.3M | ||
| Q1 24 | $39.8M | $7.5M |
| Q4 25 | $21.9M | $185.1M | ||
| Q3 25 | $47.1M | — | ||
| Q2 25 | $117.2M | — | ||
| Q1 25 | $148.5M | — | ||
| Q4 24 | $169.2M | $202.7M | ||
| Q3 24 | $239.4M | — | ||
| Q2 24 | $327.4M | — | ||
| Q1 24 | $515.2M | — |
| Q4 25 | $293.9M | $-18.2M | ||
| Q3 25 | $430.3M | $-12.1M | ||
| Q2 25 | $500.0M | $-7.7M | ||
| Q1 25 | $582.1M | $-8.1M | ||
| Q4 24 | $581.2M | $-4.4M | ||
| Q3 24 | $621.9M | $1.6M | ||
| Q2 24 | $660.3M | $6.5M | ||
| Q1 24 | $647.2M | $18.0M |
| Q4 25 | $453.4M | $434.9M | ||
| Q3 25 | $522.6M | $435.2M | ||
| Q2 25 | $668.7M | $438.1M | ||
| Q1 25 | $784.1M | $441.0M | ||
| Q4 24 | $805.1M | $471.0M | ||
| Q3 24 | $919.9M | $495.7M | ||
| Q2 24 | $1.0B | $494.9M | ||
| Q1 24 | $1.2B | $494.9M |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.11× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.80× | — |
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 | $64.1M | $4.3M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 8.2% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $4.3M | ||
| Q3 25 | $16.3M | $295.0K | ||
| Q2 25 | $11.7M | $1.6M | ||
| Q1 25 | $14.1M | $-7.7M | ||
| Q4 24 | $71.9M | $8.0M | ||
| Q3 24 | $20.3M | $1.3M | ||
| Q2 24 | $14.7M | $-10.4M | ||
| Q1 24 | $26.4M | $-2.8M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $-246.0K | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -19.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | -1.8% | ||
| Q2 24 | — | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 28.70× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.18× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NLOP
Segment breakdown not available.
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
