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Side-by-side financial comparison of Net Lease Office Properties (NLOP) and SANDRIDGE ENERGY INC (SD). Click either name above to swap in a different company.

SANDRIDGE ENERGY INC is the larger business by last-quarter revenue ($39.4M vs $30.7M, roughly 1.3× Net Lease Office Properties). SANDRIDGE ENERGY INC runs the higher net margin — 54.9% vs -0.2%, a 55.1% gap on every dollar of revenue. On growth, Net Lease Office Properties posted the faster year-over-year revenue change (10.9% vs 1.1%). Over the past eight quarters, SANDRIDGE ENERGY INC's revenue compounded faster (14.1% 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.

SandRidge Energy, Inc. is a company engaged in hydrocarbon exploration in the Mid-Continent region of the United States. It is organized in Delaware and headquartered in Oklahoma City, Oklahoma.

NLOP vs SD — Head-to-Head

Bigger by revenue
SD
SD
1.3× larger
SD
$39.4M
$30.7M
NLOP
Growing faster (revenue YoY)
NLOP
NLOP
+9.8% gap
NLOP
10.9%
1.1%
SD
Higher net margin
SD
SD
55.1% more per $
SD
54.9%
-0.2%
NLOP
Faster 2-yr revenue CAGR
SD
SD
Annualised
SD
14.1%
-16.4%
NLOP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NLOP
NLOP
SD
SD
Revenue
$30.7M
$39.4M
Net Profit
$-53.0K
$21.6M
Gross Margin
Operating Margin
-0.2%
38.5%
Net Margin
-0.2%
54.9%
Revenue YoY
10.9%
1.1%
Net Profit YoY
99.9%
23.1%
EPS (diluted)
$-0.01
$0.59

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
NLOP
NLOP
SD
SD
Q4 25
$30.7M
$39.4M
Q3 25
$29.8M
$39.8M
Q2 25
$29.2M
$34.5M
Q1 25
$29.2M
$42.6M
Q4 24
$27.7M
$39.0M
Q3 24
$31.5M
$30.1M
Q2 24
$39.0M
$26.0M
Q1 24
$44.0M
$30.3M
Net Profit
NLOP
NLOP
SD
SD
Q4 25
$-53.0K
$21.6M
Q3 25
$-64.2M
$16.0M
Q2 25
$-81.5M
$19.6M
Q1 25
$492.0K
$13.0M
Q4 24
$-35.8M
$17.6M
Q3 24
$-40.3M
$25.5M
Q2 24
$12.5M
$8.8M
Q1 24
$-27.8M
$11.1M
Operating Margin
NLOP
NLOP
SD
SD
Q4 25
-0.2%
38.5%
Q3 25
-215.2%
37.8%
Q2 25
-279.1%
53.7%
Q1 25
2.0%
28.6%
Q4 24
-140.7%
25.9%
Q3 24
-126.4%
28.3%
Q2 24
32.3%
23.9%
Q1 24
-62.7%
27.8%
Net Margin
NLOP
NLOP
SD
SD
Q4 25
-0.2%
54.9%
Q3 25
-215.4%
40.1%
Q2 25
-279.5%
56.6%
Q1 25
1.7%
30.6%
Q4 24
-129.0%
45.1%
Q3 24
-128.0%
84.8%
Q2 24
31.9%
33.9%
Q1 24
-63.3%
36.7%
EPS (diluted)
NLOP
NLOP
SD
SD
Q4 25
$-0.01
$0.59
Q3 25
$-4.33
$0.43
Q2 25
$-5.50
$0.53
Q1 25
$0.03
$0.35
Q4 24
$-2.41
$0.46
Q3 24
$-2.73
$0.69
Q2 24
$0.84
$0.24
Q1 24
$-1.88
$0.30

Balance Sheet & Financial Strength

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

Metric
NLOP
NLOP
SD
SD
Cash + ST InvestmentsLiquidity on hand
$119.6M
$111.0M
Total DebtLower is stronger
$21.9M
Stockholders' EquityBook value
$293.9M
$510.9M
Total Assets
$453.4M
$644.0M
Debt / EquityLower = less leverage
0.07×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NLOP
NLOP
SD
SD
Q4 25
$119.6M
$111.0M
Q3 25
$38.7M
$101.2M
Q2 25
$54.1M
$102.8M
Q1 25
$28.2M
$99.7M
Q4 24
$25.1M
$98.1M
Q3 24
$36.1M
$92.7M
Q2 24
$36.1M
$209.9M
Q1 24
$39.8M
$207.0M
Total Debt
NLOP
NLOP
SD
SD
Q4 25
$21.9M
Q3 25
$47.1M
Q2 25
$117.2M
Q1 25
$148.5M
Q4 24
$169.2M
Q3 24
$239.4M
Q2 24
$327.4M
Q1 24
$515.2M
Stockholders' Equity
NLOP
NLOP
SD
SD
Q4 25
$293.9M
$510.9M
Q3 25
$430.3M
$492.4M
Q2 25
$500.0M
$480.2M
Q1 25
$582.1M
$464.9M
Q4 24
$581.2M
$460.5M
Q3 24
$621.9M
$446.8M
Q2 24
$660.3M
$424.8M
Q1 24
$647.2M
$419.7M
Total Assets
NLOP
NLOP
SD
SD
Q4 25
$453.4M
$644.0M
Q3 25
$522.6M
$619.0M
Q2 25
$668.7M
$602.3M
Q1 25
$784.1M
$588.3M
Q4 24
$805.1M
$581.5M
Q3 24
$919.9M
$565.2M
Q2 24
$1.0B
$529.6M
Q1 24
$1.2B
$527.4M
Debt / Equity
NLOP
NLOP
SD
SD
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
NLOP
NLOP
SD
SD
Operating Cash FlowLast quarter
$64.1M
$31.7M
Free Cash FlowOCF − Capex
$14.4M
FCF MarginFCF / Revenue
36.6%
Capex IntensityCapex / Revenue
43.8%
Cash ConversionOCF / Net Profit
1.46×
TTM Free Cash FlowTrailing 4 quarters
$41.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NLOP
NLOP
SD
SD
Q4 25
$64.1M
$31.7M
Q3 25
$16.3M
$25.3M
Q2 25
$11.7M
$22.9M
Q1 25
$14.1M
$20.3M
Q4 24
$71.9M
$26.0M
Q3 24
$20.3M
$20.8M
Q2 24
$14.7M
$11.4M
Q1 24
$26.4M
$15.7M
Free Cash Flow
NLOP
NLOP
SD
SD
Q4 25
$14.4M
Q3 25
$5.9M
Q2 25
$7.3M
Q1 25
$13.9M
Q4 24
$13.2M
Q3 24
$10.8M
Q2 24
$9.0M
Q1 24
$14.6M
FCF Margin
NLOP
NLOP
SD
SD
Q4 25
36.6%
Q3 25
14.9%
Q2 25
21.0%
Q1 25
32.7%
Q4 24
33.8%
Q3 24
36.1%
Q2 24
34.5%
Q1 24
48.1%
Capex Intensity
NLOP
NLOP
SD
SD
Q4 25
43.8%
Q3 25
48.6%
Q2 25
45.2%
Q1 25
15.0%
Q4 24
32.9%
Q3 24
33.3%
Q2 24
9.4%
Q1 24
3.7%
Cash Conversion
NLOP
NLOP
SD
SD
Q4 25
1.46×
Q3 25
1.58×
Q2 25
1.17×
Q1 25
28.70×
1.56×
Q4 24
1.48×
Q3 24
0.82×
Q2 24
1.18×
1.30×
Q1 24
1.41×

Financial Flow Comparison

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

Revenue Breakdown by Segment

NLOP
NLOP

Segment breakdown not available.

SD
SD

Oil Reserves$19.0M48%
Natural Gas Reserves$11.6M30%
Natural Gas Liquids Reserves$8.7M22%

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