vs
Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and PAMT CORP (PAMT). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $141.3M, roughly 1.3× PAMT CORP). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -20.7%, a 32.9% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -15.1%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-25.0M). Over the past eight quarters, National Storage Affiliates Trust's revenue compounded faster (-2.4% CAGR vs -12.0%).
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
NSA vs PAMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $141.3M |
| Net Profit | $22.9M | $-29.3M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | -27.0% |
| Net Margin | 12.2% | -20.7% |
| Revenue YoY | -1.6% | -15.1% |
| Net Profit YoY | 36.8% | 7.4% |
| EPS (diluted) | $0.23 | $-1.38 |
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 | $187.0M | $141.3M | ||
| Q3 25 | $188.7M | $150.3M | ||
| Q2 25 | $188.8M | $151.1M | ||
| Q1 25 | $188.4M | $155.3M | ||
| Q4 24 | $190.1M | $166.5M | ||
| Q3 24 | $193.6M | $182.6M | ||
| Q2 24 | $190.4M | $182.9M | ||
| Q1 24 | $196.1M | $182.6M |
| Q4 25 | $22.9M | $-29.3M | ||
| Q3 25 | $18.4M | $-5.6M | ||
| Q2 25 | $19.5M | $-9.6M | ||
| Q1 25 | $13.0M | $-8.1M | ||
| Q4 24 | $16.7M | $-31.6M | ||
| Q3 24 | $18.7M | $2.4M | ||
| Q2 24 | $17.1M | $-2.9M | ||
| Q1 24 | $59.0M | $281.0K |
| Q4 25 | 72.5% | — | ||
| Q3 25 | 70.7% | — | ||
| Q2 25 | 70.5% | — | ||
| Q1 25 | 70.7% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 72.8% | — | ||
| Q2 24 | 72.6% | — | ||
| Q1 24 | 72.1% | — |
| Q4 25 | 20.2% | -27.0% | ||
| Q3 25 | 15.8% | -3.8% | ||
| Q2 25 | 16.5% | -7.3% | ||
| Q1 25 | 11.0% | -5.9% | ||
| Q4 24 | 14.5% | -22.6% | ||
| Q3 24 | 15.8% | 1.3% | ||
| Q2 24 | 17.2% | -0.4% | ||
| Q1 24 | 48.9% | -0.4% |
| Q4 25 | 12.2% | -20.7% | ||
| Q3 25 | 9.8% | -3.7% | ||
| Q2 25 | 10.3% | -6.4% | ||
| Q1 25 | 6.9% | -5.2% | ||
| Q4 24 | 8.8% | -19.0% | ||
| Q3 24 | 9.7% | 1.3% | ||
| Q2 24 | 9.0% | -1.6% | ||
| Q1 24 | 30.1% | 0.2% |
| Q4 25 | $0.23 | $-1.38 | ||
| Q3 25 | $0.17 | $-0.27 | ||
| Q2 25 | $0.19 | $-0.46 | ||
| Q1 25 | $0.10 | $-0.37 | ||
| Q4 24 | $0.19 | $-1.44 | ||
| Q3 24 | $0.18 | $0.11 | ||
| Q2 24 | $0.16 | $-0.13 | ||
| Q1 24 | $0.65 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.3M | $83.7M |
| Total DebtLower is stronger | — | $333.9M |
| Stockholders' EquityBook value | $946.0M | $210.5M |
| Total Assets | $5.1B | $697.9M |
| Debt / EquityLower = less leverage | — | 1.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $83.7M | ||
| Q3 25 | $26.3M | $115.6M | ||
| Q2 25 | $26.1M | $117.3M | ||
| Q1 25 | $19.3M | $102.7M | ||
| Q4 24 | $50.4M | $110.7M | ||
| Q3 24 | $69.9M | $92.3M | ||
| Q2 24 | $59.0M | $114.0M | ||
| Q1 24 | $64.2M | $125.8M |
| Q4 25 | — | $333.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $325.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.0M | $210.5M | ||
| Q3 25 | $973.1M | $239.5M | ||
| Q2 25 | $1.0B | $244.9M | ||
| Q1 25 | $1.0B | $269.6M | ||
| Q4 24 | $1.1B | $277.5M | ||
| Q3 24 | $986.9M | $308.9M | ||
| Q2 24 | $1.2B | $306.7M | ||
| Q1 24 | $1.3B | $314.6M |
| Q4 25 | $5.1B | $697.9M | ||
| Q3 25 | $5.1B | $715.2M | ||
| Q2 25 | $5.2B | $707.9M | ||
| Q1 25 | $5.3B | $712.6M | ||
| Q4 24 | $5.4B | $741.7M | ||
| Q3 24 | $5.4B | $756.7M | ||
| Q2 24 | $5.3B | $733.5M | ||
| Q1 24 | $5.4B | $746.4M |
| Q4 25 | — | 1.59× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $338.5M | $-5.8M |
| Free Cash FlowOCF − Capex | $299.8M | $-25.0M |
| FCF MarginFCF / Revenue | 160.3% | -17.7% |
| Capex IntensityCapex / Revenue | 20.7% | 13.6% |
| Cash ConversionOCF / Net Profit | 14.79× | — |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $-23.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $-5.8M | ||
| Q3 25 | $100.2M | $5.9M | ||
| Q2 25 | $79.9M | $12.2M | ||
| Q1 25 | $85.6M | $5.0M | ||
| Q4 24 | $363.1M | $15.2M | ||
| Q3 24 | $105.7M | $15.5M | ||
| Q2 24 | $83.2M | $18.7M | ||
| Q1 24 | $94.0M | $9.6M |
| Q4 25 | $299.8M | $-25.0M | ||
| Q3 25 | $88.0M | $2.5M | ||
| Q2 25 | $73.8M | $5.9M | ||
| Q1 25 | $79.9M | $-6.8M | ||
| Q4 24 | $344.4M | $-39.9M | ||
| Q3 24 | $101.8M | $-33.6M | ||
| Q2 24 | $79.5M | $4.1M | ||
| Q1 24 | $88.6M | $-12.2M |
| Q4 25 | 160.3% | -17.7% | ||
| Q3 25 | 46.6% | 1.7% | ||
| Q2 25 | 39.1% | 3.9% | ||
| Q1 25 | 42.4% | -4.4% | ||
| Q4 24 | 181.2% | -24.0% | ||
| Q3 24 | 52.6% | -18.4% | ||
| Q2 24 | 41.7% | 2.2% | ||
| Q1 24 | 45.2% | -6.7% |
| Q4 25 | 20.7% | 13.6% | ||
| Q3 25 | 6.5% | 2.3% | ||
| Q2 25 | 3.2% | 4.2% | ||
| Q1 25 | 3.0% | 7.6% | ||
| Q4 24 | 9.8% | 33.1% | ||
| Q3 24 | 2.0% | 26.9% | ||
| Q2 24 | 1.9% | 8.0% | ||
| Q1 24 | 2.7% | 12.0% |
| Q4 25 | 14.79× | — | ||
| Q3 25 | 5.44× | — | ||
| Q2 25 | 4.10× | — | ||
| Q1 25 | 6.59× | — | ||
| Q4 24 | 21.70× | — | ||
| Q3 24 | 5.65× | 6.44× | ||
| Q2 24 | 4.88× | — | ||
| Q1 24 | 1.59× | 34.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSA
Segment breakdown not available.
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
