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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and Purple Innovation, Inc. (PRPL). 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 $140.7M, roughly 1.3× Purple Innovation, Inc.). National Storage Affiliates Trust runs the higher net margin — 12.2% vs -2.3%, a 14.5% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% 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.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
NSA vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $140.7M |
| Net Profit | $22.9M | $-3.2M |
| Gross Margin | 72.5% | 41.9% |
| Operating Margin | 20.2% | -1.6% |
| Net Margin | 12.2% | -2.3% |
| Revenue YoY | -1.6% | 9.1% |
| Net Profit YoY | 36.8% | 62.1% |
| EPS (diluted) | $0.23 | $0.03 |
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 | $140.7M | ||
| Q3 25 | $188.7M | $118.8M | ||
| Q2 25 | $188.8M | $105.1M | ||
| Q1 25 | $188.4M | $104.2M | ||
| Q4 24 | $190.1M | $129.0M | ||
| Q3 24 | $193.6M | $118.6M | ||
| Q2 24 | $190.4M | $120.3M | ||
| Q1 24 | $196.1M | $120.0M |
| Q4 25 | $22.9M | $-3.2M | ||
| Q3 25 | $18.4M | $-11.7M | ||
| Q2 25 | $19.5M | $-17.3M | ||
| Q1 25 | $13.0M | $-19.1M | ||
| Q4 24 | $16.7M | $-8.5M | ||
| Q3 24 | $18.7M | $-39.2M | ||
| Q2 24 | $17.1M | $27.0K | ||
| Q1 24 | $59.0M | $-50.2M |
| Q4 25 | 72.5% | 41.9% | ||
| Q3 25 | 70.7% | 42.8% | ||
| Q2 25 | 70.5% | 35.9% | ||
| Q1 25 | 70.7% | 39.4% | ||
| Q4 24 | 72.5% | 42.9% | ||
| Q3 24 | 72.8% | 29.7% | ||
| Q2 24 | 72.6% | 40.7% | ||
| Q1 24 | 72.1% | 34.8% |
| Q4 25 | 20.2% | -1.6% | ||
| Q3 25 | 15.8% | -10.2% | ||
| Q2 25 | 16.5% | -13.5% | ||
| Q1 25 | 11.0% | -13.9% | ||
| Q4 24 | 14.5% | -6.0% | ||
| Q3 24 | 15.8% | -39.5% | ||
| Q2 24 | 17.2% | -12.1% | ||
| Q1 24 | 48.9% | -19.3% |
| Q4 25 | 12.2% | -2.3% | ||
| Q3 25 | 9.8% | -9.9% | ||
| Q2 25 | 10.3% | -16.5% | ||
| Q1 25 | 6.9% | -18.4% | ||
| Q4 24 | 8.8% | -6.6% | ||
| Q3 24 | 9.7% | -33.1% | ||
| Q2 24 | 9.0% | 0.0% | ||
| Q1 24 | 30.1% | -41.8% |
| Q4 25 | $0.23 | $0.03 | ||
| Q3 25 | $0.17 | $0.11 | ||
| Q2 25 | $0.19 | $0.16 | ||
| Q1 25 | $0.10 | $0.18 | ||
| Q4 24 | $0.19 | $0.08 | ||
| Q3 24 | $0.18 | $0.36 | ||
| Q2 24 | $0.16 | $0.00 | ||
| Q1 24 | $0.65 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $946.0M | $-29.7M |
| Total Assets | $5.1B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $24.3M | ||
| Q3 25 | $26.3M | $32.4M | ||
| Q2 25 | $26.1M | $34.2M | ||
| Q1 25 | $19.3M | $21.6M | ||
| Q4 24 | $50.4M | $29.0M | ||
| Q3 24 | $69.9M | $23.4M | ||
| Q2 24 | $59.0M | $23.4M | ||
| Q1 24 | $64.2M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.0M | $-29.7M | ||
| Q3 25 | $973.1M | $-26.9M | ||
| Q2 25 | $1.0B | $-15.6M | ||
| Q1 25 | $1.0B | $1.3M | ||
| Q4 24 | $1.1B | $20.2M | ||
| Q3 24 | $986.9M | $28.0M | ||
| Q2 24 | $1.2B | $66.4M | ||
| Q1 24 | $1.3B | $65.5M |
| Q4 25 | $5.1B | $296.3M | ||
| Q3 25 | $5.1B | $302.1M | ||
| Q2 25 | $5.2B | $303.8M | ||
| Q1 25 | $5.3B | $293.8M | ||
| Q4 24 | $5.4B | $307.8M | ||
| Q3 24 | $5.4B | $309.3M | ||
| Q2 24 | $5.3B | $362.1M | ||
| Q1 24 | $5.4B | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $-7.8M |
| FCF MarginFCF / Revenue | 160.3% | -5.5% |
| Capex IntensityCapex / Revenue | 20.7% | 1.4% |
| Cash ConversionOCF / Net Profit | 14.79× | — |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $-5.8M | ||
| Q3 25 | $100.2M | $-968.0K | ||
| Q2 25 | $79.9M | $-4.0M | ||
| Q1 25 | $85.6M | $-23.1M | ||
| Q4 24 | $363.1M | $6.8M | ||
| Q3 24 | $105.7M | $1.1M | ||
| Q2 24 | $83.2M | $-8.9M | ||
| Q1 24 | $94.0M | $-16.8M |
| Q4 25 | $299.8M | $-7.8M | ||
| Q3 25 | $88.0M | $-1.8M | ||
| Q2 25 | $73.8M | $-7.0M | ||
| Q1 25 | $79.9M | $-25.3M | ||
| Q4 24 | $344.4M | $5.7M | ||
| Q3 24 | $101.8M | $101.0K | ||
| Q2 24 | $79.5M | $-11.0M | ||
| Q1 24 | $88.6M | $-19.9M |
| Q4 25 | 160.3% | -5.5% | ||
| Q3 25 | 46.6% | -1.5% | ||
| Q2 25 | 39.1% | -6.6% | ||
| Q1 25 | 42.4% | -24.3% | ||
| Q4 24 | 181.2% | 4.4% | ||
| Q3 24 | 52.6% | 0.1% | ||
| Q2 24 | 41.7% | -9.2% | ||
| Q1 24 | 45.2% | -16.5% |
| Q4 25 | 20.7% | 1.4% | ||
| Q3 25 | 6.5% | 0.7% | ||
| Q2 25 | 3.2% | 2.8% | ||
| Q1 25 | 3.0% | 2.2% | ||
| Q4 24 | 9.8% | 0.8% | ||
| Q3 24 | 2.0% | 0.9% | ||
| Q2 24 | 1.9% | 1.7% | ||
| Q1 24 | 2.7% | 2.5% |
| 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× | -330.22× | ||
| 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.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
