vs
Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and Phreesia, Inc. (PHR). 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 $120.3M, roughly 1.6× Phreesia, Inc.). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 3.5%, a 8.7% gap on every dollar of revenue. On growth, Phreesia, Inc. posted the faster year-over-year revenue change (12.7% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $12.2M).
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.
Phreesia, Inc. is a software as a service company that offers healthcare organizations a set of applications to automate and manage patient intake.
NSA vs PHR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $120.3M |
| Net Profit | $22.9M | $4.3M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | 3.1% |
| Net Margin | 12.2% | 3.5% |
| Revenue YoY | -1.6% | 12.7% |
| Net Profit YoY | 36.8% | 129.7% |
| EPS (diluted) | $0.23 | $0.07 |
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 | $120.3M | ||
| Q3 25 | $188.7M | $117.3M | ||
| Q2 25 | $188.8M | $115.9M | ||
| Q1 25 | $188.4M | — | ||
| Q4 24 | $190.1M | — | ||
| Q3 24 | $193.6M | — | ||
| Q2 24 | $190.4M | — | ||
| Q1 24 | $196.1M | — |
| Q4 25 | $22.9M | $4.3M | ||
| Q3 25 | $18.4M | $654.0K | ||
| Q2 25 | $19.5M | $-3.9M | ||
| Q1 25 | $13.0M | — | ||
| Q4 24 | $16.7M | — | ||
| Q3 24 | $18.7M | — | ||
| Q2 24 | $17.1M | — | ||
| Q1 24 | $59.0M | — |
| 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% | 3.1% | ||
| Q3 25 | 15.8% | -1.3% | ||
| Q2 25 | 16.5% | -2.8% | ||
| Q1 25 | 11.0% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 17.2% | — | ||
| Q1 24 | 48.9% | — |
| Q4 25 | 12.2% | 3.5% | ||
| Q3 25 | 9.8% | 0.6% | ||
| Q2 25 | 10.3% | -3.4% | ||
| Q1 25 | 6.9% | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 9.7% | — | ||
| Q2 24 | 9.0% | — | ||
| Q1 24 | 30.1% | — |
| Q4 25 | $0.23 | $0.07 | ||
| Q3 25 | $0.17 | $0.01 | ||
| Q2 25 | $0.19 | $-0.07 | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.19 | — | ||
| Q3 24 | $0.18 | — | ||
| Q2 24 | $0.16 | — | ||
| Q1 24 | $0.65 | — |
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 | $106.4M |
| Total DebtLower is stronger | — | $3.4M |
| Stockholders' EquityBook value | $946.0M | $320.3M |
| Total Assets | $5.1B | $423.5M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $106.4M | ||
| Q3 25 | $26.3M | $98.3M | ||
| Q2 25 | $26.1M | $90.9M | ||
| Q1 25 | $19.3M | — | ||
| Q4 24 | $50.4M | — | ||
| Q3 24 | $69.9M | — | ||
| Q2 24 | $59.0M | — | ||
| Q1 24 | $64.2M | — |
| Q4 25 | — | $3.4M | ||
| Q3 25 | — | $4.6M | ||
| Q2 25 | — | $6.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.0M | $320.3M | ||
| Q3 25 | $973.1M | $298.0M | ||
| Q2 25 | $1.0B | $282.2M | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $986.9M | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $5.1B | $423.5M | ||
| Q3 25 | $5.1B | $408.6M | ||
| Q2 25 | $5.2B | $400.4M | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.4B | — |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.02× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $15.5M |
| Free Cash FlowOCF − Capex | $299.8M | $12.2M |
| FCF MarginFCF / Revenue | 160.3% | 10.1% |
| Capex IntensityCapex / Revenue | 20.7% | 2.7% |
| Cash ConversionOCF / Net Profit | 14.79× | 3.62× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $15.5M | ||
| Q3 25 | $100.2M | $14.8M | ||
| Q2 25 | $79.9M | $14.8M | ||
| Q1 25 | $85.6M | — | ||
| Q4 24 | $363.1M | — | ||
| Q3 24 | $105.7M | — | ||
| Q2 24 | $83.2M | — | ||
| Q1 24 | $94.0M | — |
| Q4 25 | $299.8M | $12.2M | ||
| Q3 25 | $88.0M | $13.1M | ||
| Q2 25 | $73.8M | $11.3M | ||
| Q1 25 | $79.9M | — | ||
| Q4 24 | $344.4M | — | ||
| Q3 24 | $101.8M | — | ||
| Q2 24 | $79.5M | — | ||
| Q1 24 | $88.6M | — |
| Q4 25 | 160.3% | 10.1% | ||
| Q3 25 | 46.6% | 11.1% | ||
| Q2 25 | 39.1% | 9.8% | ||
| Q1 25 | 42.4% | — | ||
| Q4 24 | 181.2% | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | 41.7% | — | ||
| Q1 24 | 45.2% | — |
| Q4 25 | 20.7% | 2.7% | ||
| Q3 25 | 6.5% | 1.5% | ||
| Q2 25 | 3.2% | 3.0% | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | 14.79× | 3.62× | ||
| Q3 25 | 5.44× | 22.68× | ||
| 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.
PHR
| Subscription And Services | $55.5M | 46% |
| Network Solutions | $37.4M | 31% |
| Payment Processing Fees | $27.4M | 23% |
