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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $187.0M, roughly 1.2× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 2.3%, a 10.0% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -12.3%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $11.6M). Over the past eight quarters, RADIANT LOGISTICS, INC's revenue compounded faster (12.1% 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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
NSA vs RLGT — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $232.1M |
| Net Profit | $22.9M | $5.3M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | 3.2% |
| Net Margin | 12.2% | 2.3% |
| Revenue YoY | -1.6% | -12.3% |
| Net Profit YoY | 36.8% | -18.0% |
| EPS (diluted) | $0.23 | $0.11 |
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 | $232.1M | ||
| Q3 25 | $188.7M | $226.7M | ||
| Q2 25 | $188.8M | $220.6M | ||
| Q1 25 | $188.4M | $214.0M | ||
| Q4 24 | $190.1M | $264.5M | ||
| Q3 24 | $193.6M | $203.6M | ||
| Q2 24 | $190.4M | $206.0M | ||
| Q1 24 | $196.1M | $184.6M |
| Q4 25 | $22.9M | $5.3M | ||
| Q3 25 | $18.4M | $1.3M | ||
| Q2 25 | $19.5M | $4.9M | ||
| Q1 25 | $13.0M | $2.5M | ||
| Q4 24 | $16.7M | $6.5M | ||
| Q3 24 | $18.7M | $3.4M | ||
| Q2 24 | $17.1M | $4.8M | ||
| Q1 24 | $59.0M | $-703.0K |
| 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% | 3.2% | ||
| Q3 25 | 15.8% | 0.9% | ||
| Q2 25 | 16.5% | 2.4% | ||
| Q1 25 | 11.0% | 1.6% | ||
| Q4 24 | 14.5% | 3.3% | ||
| Q3 24 | 15.8% | 1.9% | ||
| Q2 24 | 17.2% | 2.4% | ||
| Q1 24 | 48.9% | -0.5% |
| Q4 25 | 12.2% | 2.3% | ||
| Q3 25 | 9.8% | 0.6% | ||
| Q2 25 | 10.3% | 2.2% | ||
| Q1 25 | 6.9% | 1.2% | ||
| Q4 24 | 8.8% | 2.4% | ||
| Q3 24 | 9.7% | 1.7% | ||
| Q2 24 | 9.0% | 2.3% | ||
| Q1 24 | 30.1% | -0.4% |
| Q4 25 | $0.23 | $0.11 | ||
| Q3 25 | $0.17 | $0.03 | ||
| Q2 25 | $0.19 | $0.10 | ||
| Q1 25 | $0.10 | $0.05 | ||
| Q4 24 | $0.19 | $0.13 | ||
| Q3 24 | $0.18 | $0.07 | ||
| Q2 24 | $0.16 | $0.11 | ||
| Q1 24 | $0.65 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $946.0M | $229.8M |
| Total Assets | $5.1B | $439.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $31.9M | ||
| Q3 25 | $26.3M | $28.1M | ||
| Q2 25 | $26.1M | $22.9M | ||
| Q1 25 | $19.3M | $19.0M | ||
| Q4 24 | $50.4M | $19.9M | ||
| Q3 24 | $69.9M | $10.4M | ||
| Q2 24 | $59.0M | $24.9M | ||
| Q1 24 | $64.2M | $31.2M |
| Q4 25 | $946.0M | $229.8M | ||
| Q3 25 | $973.1M | $225.7M | ||
| Q2 25 | $1.0B | $226.0M | ||
| Q1 25 | $1.0B | $218.2M | ||
| Q4 24 | $1.1B | $214.4M | ||
| Q3 24 | $986.9M | $212.4M | ||
| Q2 24 | $1.2B | $209.4M | ||
| Q1 24 | $1.3B | $206.0M |
| Q4 25 | $5.1B | $439.4M | ||
| Q3 25 | $5.1B | $445.3M | ||
| Q2 25 | $5.2B | $426.8M | ||
| Q1 25 | $5.3B | $414.5M | ||
| Q4 24 | $5.4B | $386.8M | ||
| Q3 24 | $5.4B | $375.3M | ||
| Q2 24 | $5.3B | $371.2M | ||
| Q1 24 | $5.4B | $364.0M |
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 | $12.4M |
| Free Cash FlowOCF − Capex | $299.8M | $11.6M |
| FCF MarginFCF / Revenue | 160.3% | 5.0% |
| Capex IntensityCapex / Revenue | 20.7% | 0.3% |
| Cash ConversionOCF / Net Profit | 14.79× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $12.4M | ||
| Q3 25 | $100.2M | $2.5M | ||
| Q2 25 | $79.9M | $3.1M | ||
| Q1 25 | $85.6M | $-5.7M | ||
| Q4 24 | $363.1M | $15.7M | ||
| Q3 24 | $105.7M | $205.0K | ||
| Q2 24 | $83.2M | $1.3M | ||
| Q1 24 | $94.0M | $3.9M |
| Q4 25 | $299.8M | $11.6M | ||
| Q3 25 | $88.0M | $977.0K | ||
| Q2 25 | $73.8M | $2.2M | ||
| Q1 25 | $79.9M | $-6.4M | ||
| Q4 24 | $344.4M | $14.1M | ||
| Q3 24 | $101.8M | $-1.9M | ||
| Q2 24 | $79.5M | $-185.0K | ||
| Q1 24 | $88.6M | $1.8M |
| Q4 25 | 160.3% | 5.0% | ||
| Q3 25 | 46.6% | 0.4% | ||
| Q2 25 | 39.1% | 1.0% | ||
| Q1 25 | 42.4% | -3.0% | ||
| Q4 24 | 181.2% | 5.3% | ||
| Q3 24 | 52.6% | -0.9% | ||
| Q2 24 | 41.7% | -0.1% | ||
| Q1 24 | 45.2% | 1.0% |
| Q4 25 | 20.7% | 0.3% | ||
| Q3 25 | 6.5% | 0.7% | ||
| Q2 25 | 3.2% | 0.4% | ||
| Q1 25 | 3.0% | 0.3% | ||
| Q4 24 | 9.8% | 0.6% | ||
| Q3 24 | 2.0% | 1.0% | ||
| Q2 24 | 1.9% | 0.7% | ||
| Q1 24 | 2.7% | 1.2% |
| Q4 25 | 14.79× | 2.33× | ||
| Q3 25 | 5.44× | 1.90× | ||
| Q2 25 | 4.10× | 0.63× | ||
| Q1 25 | 6.59× | -2.26× | ||
| Q4 24 | 21.70× | 2.43× | ||
| Q3 24 | 5.65× | 0.06× | ||
| Q2 24 | 4.88× | 0.26× | ||
| 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.
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
