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Side-by-side financial comparison of Net Lease Office Properties (NLOP) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $30.7M, roughly 1.5× Net Lease Office Properties). Net Lease Office Properties runs the higher net margin — -0.2% vs -33.9%, a 33.7% gap on every dollar of revenue. On growth, Net Lease Office Properties posted the faster year-over-year revenue change (10.9% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
NLOP vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.7M | $47.1M |
| Net Profit | $-53.0K | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | -0.2% | -17.7% |
| Net Margin | -0.2% | -33.9% |
| Revenue YoY | 10.9% | -15.6% |
| Net Profit YoY | 99.9% | 68.8% |
| EPS (diluted) | $-0.01 | $-4.40 |
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.
| Q4 25 | $30.7M | $47.1M | ||
| Q3 25 | $29.8M | $38.2M | ||
| Q2 25 | $29.2M | $38.4M | ||
| Q1 25 | $29.2M | $32.5M | ||
| Q4 24 | $27.7M | $55.8M | ||
| Q3 24 | $31.5M | $29.3M | ||
| Q2 24 | $39.0M | $34.0M | ||
| Q1 24 | $44.0M | $25.5M |
| Q4 25 | $-53.0K | $-16.0M | ||
| Q3 25 | $-64.2M | $-23.8M | ||
| Q2 25 | $-81.5M | $202.5M | ||
| Q1 25 | $492.0K | $-25.0M | ||
| Q4 24 | $-35.8M | $-51.1M | ||
| Q3 24 | $-40.3M | $-148.3M | ||
| Q2 24 | $12.5M | $-582.3M | ||
| Q1 24 | $-27.8M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | -0.2% | -17.7% | ||
| Q3 25 | -215.2% | -33.6% | ||
| Q2 25 | -279.1% | -34.8% | ||
| Q1 25 | 2.0% | -65.0% | ||
| Q4 24 | -140.7% | -84.4% | ||
| Q3 24 | -126.4% | -493.2% | ||
| Q2 24 | 32.3% | -1705.5% | ||
| Q1 24 | -62.7% | -267.0% |
| Q4 25 | -0.2% | -33.9% | ||
| Q3 25 | -215.4% | -62.2% | ||
| Q2 25 | -279.5% | 527.8% | ||
| Q1 25 | 1.7% | -76.9% | ||
| Q4 24 | -129.0% | -91.6% | ||
| Q3 24 | -128.0% | -506.3% | ||
| Q2 24 | 31.9% | -1712.6% | ||
| Q1 24 | -63.3% | -283.9% |
| Q4 25 | $-0.01 | $-4.40 | ||
| Q3 25 | $-4.33 | $-2.84 | ||
| Q2 25 | $-5.50 | $-1.79 | ||
| Q1 25 | $0.03 | $-0.15 | ||
| Q4 24 | $-2.41 | $-15.29 | ||
| Q3 24 | $-2.73 | $-18.24 | ||
| Q2 24 | $0.84 | $-71.81 | ||
| Q1 24 | $-1.88 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | $21.9M | — |
| Stockholders' EquityBook value | $293.9M | $-249.4M |
| Total Assets | $453.4M | $308.9M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $119.6M | $48.9M | ||
| Q3 25 | $38.7M | $43.1M | ||
| Q2 25 | $54.1M | $40.8M | ||
| Q1 25 | $28.2M | $58.6M | ||
| Q4 24 | $25.1M | $56.3M | ||
| Q3 24 | $36.1M | $75.4M | ||
| Q2 24 | $36.1M | $89.6M | ||
| Q1 24 | $39.8M | $112.8M |
| 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 | — |
| Q4 25 | $293.9M | $-249.4M | ||
| Q3 25 | $430.3M | $-235.7M | ||
| Q2 25 | $500.0M | $-214.1M | ||
| Q1 25 | $582.1M | $-417.5M | ||
| Q4 24 | $581.2M | $-398.4M | ||
| Q3 24 | $621.9M | $-344.1M | ||
| Q2 24 | $660.3M | $-203.2M | ||
| Q1 24 | $647.2M | $371.6M |
| Q4 25 | $453.4M | $308.9M | ||
| Q3 25 | $522.6M | $362.6M | ||
| Q2 25 | $668.7M | $379.2M | ||
| Q1 25 | $784.1M | $405.1M | ||
| Q4 24 | $805.1M | $437.4M | ||
| Q3 24 | $919.9M | $537.8M | ||
| Q2 24 | $1.0B | $691.5M | ||
| Q1 24 | $1.2B | $1.3B |
| 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 | $8.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $8.2M | ||
| Q3 25 | $16.3M | $11.4M | ||
| Q2 25 | $11.7M | $-21.3M | ||
| Q1 25 | $14.1M | $8.5M | ||
| Q4 24 | $71.9M | $-14.7M | ||
| Q3 24 | $20.3M | $-9.4M | ||
| Q2 24 | $14.7M | $-11.9M | ||
| Q1 24 | $26.4M | $-621.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| 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.
