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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). 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 $103.6M, roughly 1.8× TACTILE SYSTEMS TECHNOLOGY INC). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 10.3%, a 2.0% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $16.8M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% 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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
NSA vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $103.6M |
| Net Profit | $22.9M | $10.6M |
| Gross Margin | 72.5% | 78.2% |
| Operating Margin | 20.2% | 18.1% |
| Net Margin | 12.2% | 10.3% |
| Revenue YoY | -1.6% | 21.0% |
| Net Profit YoY | 36.8% | 9.4% |
| EPS (diluted) | $0.23 | $0.45 |
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 | $103.6M | ||
| Q3 25 | $188.7M | $85.8M | ||
| Q2 25 | $188.8M | $78.9M | ||
| Q1 25 | $188.4M | $61.3M | ||
| Q4 24 | $190.1M | $85.6M | ||
| Q3 24 | $193.6M | $73.1M | ||
| Q2 24 | $190.4M | $73.2M | ||
| Q1 24 | $196.1M | $61.1M |
| Q4 25 | $22.9M | $10.6M | ||
| Q3 25 | $18.4M | $8.2M | ||
| Q2 25 | $19.5M | $3.2M | ||
| Q1 25 | $13.0M | $-3.0M | ||
| Q4 24 | $16.7M | $9.7M | ||
| Q3 24 | $18.7M | $5.2M | ||
| Q2 24 | $17.1M | $4.3M | ||
| Q1 24 | $59.0M | $-2.2M |
| Q4 25 | 72.5% | 78.2% | ||
| Q3 25 | 70.7% | 75.8% | ||
| Q2 25 | 70.5% | 74.5% | ||
| Q1 25 | 70.7% | 74.0% | ||
| Q4 24 | 72.5% | 75.2% | ||
| Q3 24 | 72.8% | 75.0% | ||
| Q2 24 | 72.6% | 73.9% | ||
| Q1 24 | 72.1% | 71.1% |
| Q4 25 | 20.2% | 18.1% | ||
| Q3 25 | 15.8% | 12.8% | ||
| Q2 25 | 16.5% | 5.2% | ||
| Q1 25 | 11.0% | -7.4% | ||
| Q4 24 | 14.5% | 14.6% | ||
| Q3 24 | 15.8% | 9.3% | ||
| Q2 24 | 17.2% | 8.0% | ||
| Q1 24 | 48.9% | -4.9% |
| Q4 25 | 12.2% | 10.3% | ||
| Q3 25 | 9.8% | 9.6% | ||
| Q2 25 | 10.3% | 4.1% | ||
| Q1 25 | 6.9% | -4.9% | ||
| Q4 24 | 8.8% | 11.4% | ||
| Q3 24 | 9.7% | 7.1% | ||
| Q2 24 | 9.0% | 5.9% | ||
| Q1 24 | 30.1% | -3.6% |
| Q4 25 | $0.23 | $0.45 | ||
| Q3 25 | $0.17 | $0.36 | ||
| Q2 25 | $0.19 | $0.14 | ||
| Q1 25 | $0.10 | $-0.13 | ||
| Q4 24 | $0.19 | $0.40 | ||
| Q3 24 | $0.18 | $0.21 | ||
| Q2 24 | $0.16 | $0.18 | ||
| Q1 24 | $0.65 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $946.0M | $218.9M |
| Total Assets | $5.1B | $273.9M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $83.4M | ||
| Q3 25 | $26.3M | $66.0M | ||
| Q2 25 | $26.1M | $81.5M | ||
| Q1 25 | $19.3M | $83.6M | ||
| Q4 24 | $50.4M | $94.4M | ||
| Q3 24 | $69.9M | $82.1M | ||
| Q2 24 | $59.0M | $73.6M | ||
| Q1 24 | $64.2M | $60.7M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $27.0M | ||
| Q2 24 | — | $27.8M | ||
| Q1 24 | — | $28.5M |
| Q4 25 | $946.0M | $218.9M | ||
| Q3 25 | $973.1M | $204.9M | ||
| Q2 25 | $1.0B | $194.9M | ||
| Q1 25 | $1.0B | $205.6M | ||
| Q4 24 | $1.1B | $216.6M | ||
| Q3 24 | $986.9M | $207.9M | ||
| Q2 24 | $1.2B | $200.7M | ||
| Q1 24 | $1.3B | $193.5M |
| Q4 25 | $5.1B | $273.9M | ||
| Q3 25 | $5.1B | $259.2M | ||
| Q2 25 | $5.2B | $273.0M | ||
| Q1 25 | $5.3B | $280.2M | ||
| Q4 24 | $5.4B | $297.9M | ||
| Q3 24 | $5.4B | $287.7M | ||
| Q2 24 | $5.3B | $278.8M | ||
| Q1 24 | $5.4B | $272.0M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.15× |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $299.8M | $16.8M |
| FCF MarginFCF / Revenue | 160.3% | 16.2% |
| Capex IntensityCapex / Revenue | 20.7% | 0.5% |
| Cash ConversionOCF / Net Profit | 14.79× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $17.3M | ||
| Q3 25 | $100.2M | $10.3M | ||
| Q2 25 | $79.9M | $14.8M | ||
| Q1 25 | $85.6M | $417.0K | ||
| Q4 24 | $363.1M | $16.3M | ||
| Q3 24 | $105.7M | $10.3M | ||
| Q2 24 | $83.2M | $13.1M | ||
| Q1 24 | $94.0M | $924.0K |
| Q4 25 | $299.8M | $16.8M | ||
| Q3 25 | $88.0M | $9.2M | ||
| Q2 25 | $73.8M | $14.4M | ||
| Q1 25 | $79.9M | $38.0K | ||
| Q4 24 | $344.4M | $15.9M | ||
| Q3 24 | $101.8M | $9.3M | ||
| Q2 24 | $79.5M | $12.6M | ||
| Q1 24 | $88.6M | $442.0K |
| Q4 25 | 160.3% | 16.2% | ||
| Q3 25 | 46.6% | 10.8% | ||
| Q2 25 | 39.1% | 18.2% | ||
| Q1 25 | 42.4% | 0.1% | ||
| Q4 24 | 181.2% | 18.5% | ||
| Q3 24 | 52.6% | 12.7% | ||
| Q2 24 | 41.7% | 17.3% | ||
| Q1 24 | 45.2% | 0.7% |
| Q4 25 | 20.7% | 0.5% | ||
| Q3 25 | 6.5% | 1.3% | ||
| Q2 25 | 3.2% | 0.5% | ||
| Q1 25 | 3.0% | 0.6% | ||
| Q4 24 | 9.8% | 0.5% | ||
| Q3 24 | 2.0% | 1.3% | ||
| Q2 24 | 1.9% | 0.7% | ||
| Q1 24 | 2.7% | 0.8% |
| Q4 25 | 14.79× | 1.63× | ||
| Q3 25 | 5.44× | 1.26× | ||
| Q2 25 | 4.10× | 4.59× | ||
| Q1 25 | 6.59× | — | ||
| Q4 24 | 21.70× | 1.68× | ||
| Q3 24 | 5.65× | 1.99× | ||
| Q2 24 | 4.88× | 3.06× | ||
| 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.
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
