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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
PROCORE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($349.1M vs $187.0M, roughly 1.9× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -10.8%, a 23.0% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $109.2M). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% CAGR vs -2.4%).
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.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
NSA vs PCOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $349.1M |
| Net Profit | $22.9M | $-37.6M |
| Gross Margin | 72.5% | 80.1% |
| Operating Margin | 20.2% | -12.3% |
| Net Margin | 12.2% | -10.8% |
| Revenue YoY | -1.6% | 15.6% |
| Net Profit YoY | 36.8% | 39.6% |
| EPS (diluted) | $0.23 | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $188.7M | $338.9M | ||
| Q2 25 | $188.8M | $323.9M | ||
| Q1 25 | $188.4M | $310.6M | ||
| Q4 24 | $190.1M | $302.0M | ||
| Q3 24 | $193.6M | $295.9M | ||
| Q2 24 | $190.4M | $284.3M | ||
| Q1 24 | $196.1M | $269.4M |
| Q4 25 | $22.9M | $-37.6M | ||
| Q3 25 | $18.4M | $-9.1M | ||
| Q2 25 | $19.5M | $-21.1M | ||
| Q1 25 | $13.0M | $-33.0M | ||
| Q4 24 | $16.7M | $-62.3M | ||
| Q3 24 | $18.7M | $-26.4M | ||
| Q2 24 | $17.1M | $-6.3M | ||
| Q1 24 | $59.0M | $-11.0M |
| Q4 25 | 72.5% | 80.1% | ||
| Q3 25 | 70.7% | 79.7% | ||
| Q2 25 | 70.5% | 79.1% | ||
| Q1 25 | 70.7% | 79.1% | ||
| Q4 24 | 72.5% | 81.2% | ||
| Q3 24 | 72.8% | 81.4% | ||
| Q2 24 | 72.6% | 83.1% | ||
| Q1 24 | 72.1% | 83.0% |
| Q4 25 | 20.2% | -12.3% | ||
| Q3 25 | 15.8% | -4.4% | ||
| Q2 25 | 16.5% | -9.3% | ||
| Q1 25 | 11.0% | -11.7% | ||
| Q4 24 | 14.5% | -21.9% | ||
| Q3 24 | 15.8% | -12.3% | ||
| Q2 24 | 17.2% | -5.2% | ||
| Q1 24 | 48.9% | -7.0% |
| Q4 25 | 12.2% | -10.8% | ||
| Q3 25 | 9.8% | -2.7% | ||
| Q2 25 | 10.3% | -6.5% | ||
| Q1 25 | 6.9% | -10.6% | ||
| Q4 24 | 8.8% | -20.6% | ||
| Q3 24 | 9.7% | -8.9% | ||
| Q2 24 | 9.0% | -2.2% | ||
| Q1 24 | 30.1% | -4.1% |
| Q4 25 | $0.23 | $-0.25 | ||
| Q3 25 | $0.17 | $-0.06 | ||
| Q2 25 | $0.19 | $-0.14 | ||
| Q1 25 | $0.10 | $-0.22 | ||
| Q4 24 | $0.19 | $-0.42 | ||
| Q3 24 | $0.18 | $-0.18 | ||
| Q2 24 | $0.16 | $-0.04 | ||
| Q1 24 | $0.65 | $-0.08 |
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 | $768.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $946.0M | $1.3B |
| Total Assets | $5.1B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $768.5M | ||
| Q3 25 | $26.3M | $684.0M | ||
| Q2 25 | $26.1M | $620.9M | ||
| Q1 25 | $19.3M | $566.7M | ||
| Q4 24 | $50.4M | $775.4M | ||
| Q3 24 | $69.9M | $756.9M | ||
| Q2 24 | $59.0M | $735.4M | ||
| Q1 24 | $64.2M | $744.6M |
| Q4 25 | $946.0M | $1.3B | ||
| Q3 25 | $973.1M | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $986.9M | $1.3B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.3B | $1.2B |
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.1B | $2.1B | ||
| Q2 25 | $5.2B | $2.0B | ||
| Q1 25 | $5.3B | $1.9B | ||
| Q4 24 | $5.4B | $2.1B | ||
| Q3 24 | $5.4B | $2.0B | ||
| Q2 24 | $5.3B | $2.0B | ||
| Q1 24 | $5.4B | $1.9B |
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 | $114.9M |
| Free Cash FlowOCF − Capex | $299.8M | $109.2M |
| FCF MarginFCF / Revenue | 160.3% | 31.3% |
| Capex IntensityCapex / Revenue | 20.7% | 1.6% |
| Cash ConversionOCF / Net Profit | 14.79× | — |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $114.9M | ||
| Q3 25 | $100.2M | $88.5M | ||
| Q2 25 | $79.9M | $30.8M | ||
| Q1 25 | $85.6M | $66.0M | ||
| Q4 24 | $363.1M | $29.1M | ||
| Q3 24 | $105.7M | $39.3M | ||
| Q2 24 | $83.2M | $58.7M | ||
| Q1 24 | $94.0M | $69.1M |
| Q4 25 | $299.8M | $109.2M | ||
| Q3 25 | $88.0M | $83.1M | ||
| Q2 25 | $73.8M | $27.9M | ||
| Q1 25 | $79.9M | $62.0M | ||
| Q4 24 | $344.4M | $17.4M | ||
| Q3 24 | $101.8M | $35.7M | ||
| Q2 24 | $79.5M | $56.8M | ||
| Q1 24 | $88.6M | $67.1M |
| Q4 25 | 160.3% | 31.3% | ||
| Q3 25 | 46.6% | 24.5% | ||
| Q2 25 | 39.1% | 8.6% | ||
| Q1 25 | 42.4% | 20.0% | ||
| Q4 24 | 181.2% | 5.8% | ||
| Q3 24 | 52.6% | 12.1% | ||
| Q2 24 | 41.7% | 20.0% | ||
| Q1 24 | 45.2% | 24.9% |
| Q4 25 | 20.7% | 1.6% | ||
| Q3 25 | 6.5% | 1.6% | ||
| Q2 25 | 3.2% | 0.9% | ||
| Q1 25 | 3.0% | 1.3% | ||
| Q4 24 | 9.8% | 3.9% | ||
| Q3 24 | 2.0% | 1.2% | ||
| Q2 24 | 1.9% | 0.7% | ||
| Q1 24 | 2.7% | 0.8% |
| Q4 25 | 14.79× | — | ||
| Q3 25 | 5.44× | — | ||
| Q2 25 | 4.10× | — | ||
| Q1 25 | 6.59× | — | ||
| Q4 24 | 21.70× | — | ||
| Q3 24 | 5.65× | — | ||
| Q2 24 | 4.88× | — | ||
| Q1 24 | 1.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSA
Segment breakdown not available.
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
