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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $187.0M, roughly 1.4× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 1.4%, a 10.9% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -9.4%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $8.7M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% 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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
NSA vs SDHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $260.4M |
| Net Profit | $22.9M | $3.5M |
| Gross Margin | 72.5% | 19.9% |
| Operating Margin | 20.2% | 6.5% |
| Net Margin | 12.2% | 1.4% |
| Revenue YoY | -1.6% | -9.4% |
| Net Profit YoY | 36.8% | -14.3% |
| EPS (diluted) | $0.23 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $188.7M | $262.0M | ||
| Q2 25 | $188.8M | $223.9M | ||
| Q1 25 | $188.4M | $224.7M | ||
| Q4 24 | $190.1M | $287.5M | ||
| Q3 24 | $193.6M | $277.8M | ||
| Q2 24 | $190.4M | $220.9M | ||
| Q1 24 | $196.1M | $189.2M |
| Q4 25 | $22.9M | $3.5M | ||
| Q3 25 | $18.4M | $2.1M | ||
| Q2 25 | $19.5M | $2.4M | ||
| Q1 25 | $13.0M | $2.7M | ||
| Q4 24 | $16.7M | $4.1M | ||
| Q3 24 | $18.7M | $5.3M | ||
| Q2 24 | $17.1M | $3.6M | ||
| Q1 24 | $59.0M | $3.0M |
| Q4 25 | 72.5% | 19.9% | ||
| Q3 25 | 70.7% | 21.0% | ||
| Q2 25 | 70.5% | 23.2% | ||
| Q1 25 | 70.7% | 23.8% | ||
| Q4 24 | 72.5% | 25.5% | ||
| Q3 24 | 72.8% | 26.5% | ||
| Q2 24 | 72.6% | 26.7% | ||
| Q1 24 | 72.1% | 26.1% |
| Q4 25 | 20.2% | 6.5% | ||
| Q3 25 | 15.8% | 6.6% | ||
| Q2 25 | 16.5% | 7.7% | ||
| Q1 25 | 11.0% | 8.7% | ||
| Q4 24 | 14.5% | 10.4% | ||
| Q3 24 | 15.8% | 14.2% | ||
| Q2 24 | 17.2% | 11.7% | ||
| Q1 24 | 48.9% | 11.3% |
| Q4 25 | 12.2% | 1.4% | ||
| Q3 25 | 9.8% | 0.8% | ||
| Q2 25 | 10.3% | 1.1% | ||
| Q1 25 | 6.9% | 1.2% | ||
| Q4 24 | 8.8% | 1.4% | ||
| Q3 24 | 9.7% | 1.9% | ||
| Q2 24 | 9.0% | 1.7% | ||
| Q1 24 | 30.1% | 1.6% |
| Q4 25 | $0.23 | $0.39 | ||
| Q3 25 | $0.17 | $0.24 | ||
| Q2 25 | $0.19 | $0.26 | ||
| Q1 25 | $0.10 | $0.30 | ||
| Q4 24 | $0.19 | $0.50 | ||
| Q3 24 | $0.18 | $0.58 | ||
| Q2 24 | $0.16 | $0.40 | ||
| Q1 24 | $0.65 | $0.33 |
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 | $12.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $946.0M | $86.7M |
| Total Assets | $5.1B | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $12.7M | ||
| Q3 25 | $26.3M | $14.8M | ||
| Q2 25 | $26.1M | $16.8M | ||
| Q1 25 | $19.3M | $12.7M | ||
| Q4 24 | $50.4M | $22.4M | ||
| Q3 24 | $69.9M | $23.7M | ||
| Q2 24 | $59.0M | $17.3M | ||
| Q1 24 | $64.2M | $32.8M |
| Q4 25 | $946.0M | $86.7M | ||
| Q3 25 | $973.1M | $82.2M | ||
| Q2 25 | $1.0B | $80.0M | ||
| Q1 25 | $1.0B | $76.9M | ||
| Q4 24 | $1.1B | $73.6M | ||
| Q3 24 | $986.9M | $68.4M | ||
| Q2 24 | $1.2B | $62.1M | ||
| Q1 24 | $1.3B | $59.7M |
| Q4 25 | $5.1B | $557.6M | ||
| Q3 25 | $5.1B | $571.6M | ||
| Q2 25 | $5.2B | $570.2M | ||
| Q1 25 | $5.3B | $513.9M | ||
| Q4 24 | $5.4B | $475.9M | ||
| Q3 24 | $5.4B | $460.1M | ||
| Q2 24 | $5.3B | $429.3M | ||
| Q1 24 | $5.4B | $401.3M |
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 | $9.8M |
| Free Cash FlowOCF − Capex | $299.8M | $8.7M |
| FCF MarginFCF / Revenue | 160.3% | 3.4% |
| Capex IntensityCapex / Revenue | 20.7% | 0.4% |
| Cash ConversionOCF / Net Profit | 14.79× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $9.8M | ||
| Q3 25 | $100.2M | $22.8M | ||
| Q2 25 | $79.9M | $-28.9M | ||
| Q1 25 | $85.6M | $-34.9M | ||
| Q4 24 | $363.1M | $5.5M | ||
| Q3 24 | $105.7M | $22.9M | ||
| Q2 24 | $83.2M | $39.0K | ||
| Q1 24 | $94.0M | $-9.3M |
| Q4 25 | $299.8M | $8.7M | ||
| Q3 25 | $88.0M | $21.4M | ||
| Q2 25 | $73.8M | $-31.1M | ||
| Q1 25 | $79.9M | $-35.9M | ||
| Q4 24 | $344.4M | $4.8M | ||
| Q3 24 | $101.8M | $22.3M | ||
| Q2 24 | $79.5M | $-2.1M | ||
| Q1 24 | $88.6M | $-9.7M |
| Q4 25 | 160.3% | 3.4% | ||
| Q3 25 | 46.6% | 8.2% | ||
| Q2 25 | 39.1% | -13.9% | ||
| Q1 25 | 42.4% | -16.0% | ||
| Q4 24 | 181.2% | 1.7% | ||
| Q3 24 | 52.6% | 8.0% | ||
| Q2 24 | 41.7% | -1.0% | ||
| Q1 24 | 45.2% | -5.1% |
| Q4 25 | 20.7% | 0.4% | ||
| Q3 25 | 6.5% | 0.5% | ||
| Q2 25 | 3.2% | 0.9% | ||
| Q1 25 | 3.0% | 0.5% | ||
| Q4 24 | 9.8% | 0.2% | ||
| Q3 24 | 2.0% | 0.2% | ||
| Q2 24 | 1.9% | 1.0% | ||
| Q1 24 | 2.7% | 0.2% |
| Q4 25 | 14.79× | 2.77× | ||
| Q3 25 | 5.44× | 10.70× | ||
| Q2 25 | 4.10× | -12.24× | ||
| Q1 25 | 6.59× | -13.01× | ||
| Q4 24 | 21.70× | 1.33× | ||
| Q3 24 | 5.65× | 4.28× | ||
| Q2 24 | 4.88× | 0.01× | ||
| Q1 24 | 1.59× | -3.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSA
Segment breakdown not available.
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
