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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and TIDEWATER INC (TDW). Click either name above to swap in a different company.
TIDEWATER INC is the larger business by last-quarter revenue ($336.8M vs $187.0M, roughly 1.8× National Storage Affiliates Trust). TIDEWATER INC runs the higher net margin — 65.3% vs 12.2%, a 53.0% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -2.4%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $147.8M). Over the past eight quarters, TIDEWATER INC's revenue compounded faster (2.4% 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.
Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries.
NSA vs TDW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $336.8M |
| Net Profit | $22.9M | $219.9M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | 19.0% |
| Net Margin | 12.2% | 65.3% |
| Revenue YoY | -1.6% | -2.4% |
| Net Profit YoY | 36.8% | 495.8% |
| EPS (diluted) | $0.23 | $4.37 |
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 | $336.8M | ||
| Q3 25 | $188.7M | $341.1M | ||
| Q2 25 | $188.8M | $341.4M | ||
| Q1 25 | $188.4M | $333.4M | ||
| Q4 24 | $190.1M | $345.1M | ||
| Q3 24 | $193.6M | $340.4M | ||
| Q2 24 | $190.4M | $339.2M | ||
| Q1 24 | $196.1M | $321.2M |
| Q4 25 | $22.9M | $219.9M | ||
| Q3 25 | $18.4M | $-806.0K | ||
| Q2 25 | $19.5M | $72.9M | ||
| Q1 25 | $13.0M | $42.7M | ||
| Q4 24 | $16.7M | $36.9M | ||
| Q3 24 | $18.7M | $46.4M | ||
| Q2 24 | $17.1M | $50.4M | ||
| Q1 24 | $59.0M | $47.0M |
| 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% | 19.0% | ||
| Q3 25 | 15.8% | 18.4% | ||
| Q2 25 | 16.5% | 23.7% | ||
| Q1 25 | 11.0% | 22.5% | ||
| Q4 24 | 14.5% | 23.6% | ||
| Q3 24 | 15.8% | 20.6% | ||
| Q2 24 | 17.2% | 23.0% | ||
| Q1 24 | 48.9% | 25.5% |
| Q4 25 | 12.2% | 65.3% | ||
| Q3 25 | 9.8% | -0.2% | ||
| Q2 25 | 10.3% | 21.4% | ||
| Q1 25 | 6.9% | 12.8% | ||
| Q4 24 | 8.8% | 10.7% | ||
| Q3 24 | 9.7% | 13.6% | ||
| Q2 24 | 9.0% | 14.8% | ||
| Q1 24 | 30.1% | 14.6% |
| Q4 25 | $0.23 | $4.37 | ||
| Q3 25 | $0.17 | $-0.02 | ||
| Q2 25 | $0.19 | $1.46 | ||
| Q1 25 | $0.10 | $0.83 | ||
| Q4 24 | $0.19 | $0.70 | ||
| Q3 24 | $0.18 | $0.87 | ||
| Q2 24 | $0.16 | $0.94 | ||
| Q1 24 | $0.65 | $0.89 |
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 | $578.8M |
| Total DebtLower is stronger | — | $670.1M |
| Stockholders' EquityBook value | $946.0M | $1.4B |
| Total Assets | $5.1B | $2.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $578.8M | ||
| Q3 25 | $26.3M | $428.2M | ||
| Q2 25 | $26.1M | $369.4M | ||
| Q1 25 | $19.3M | $341.8M | ||
| Q4 24 | $50.4M | $324.9M | ||
| Q3 24 | $69.9M | $280.8M | ||
| Q2 24 | $59.0M | $315.9M | ||
| Q1 24 | $64.2M | $280.9M |
| Q4 25 | — | $670.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $647.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.0M | $1.4B | ||
| Q3 25 | $973.1M | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $986.9M | $1.1B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | $5.1B | $2.4B | ||
| Q3 25 | $5.1B | $2.1B | ||
| Q2 25 | $5.2B | $2.1B | ||
| Q1 25 | $5.3B | $2.1B | ||
| Q4 24 | $5.4B | $2.1B | ||
| Q3 24 | $5.4B | $2.0B | ||
| Q2 24 | $5.3B | $2.1B | ||
| Q1 24 | $5.4B | $2.1B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| 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 | $153.0M |
| Free Cash FlowOCF − Capex | $299.8M | $147.8M |
| FCF MarginFCF / Revenue | 160.3% | 43.9% |
| Capex IntensityCapex / Revenue | 20.7% | 1.5% |
| Cash ConversionOCF / Net Profit | 14.79× | 0.70× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $353.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $153.0M | ||
| Q3 25 | $100.2M | $54.7M | ||
| Q2 25 | $79.9M | $85.4M | ||
| Q1 25 | $85.6M | $86.0M | ||
| Q4 24 | $363.1M | $100.0M | ||
| Q3 24 | $105.7M | $49.0M | ||
| Q2 24 | $83.2M | $78.6M | ||
| Q1 24 | $94.0M | $54.8M |
| Q4 25 | $299.8M | $147.8M | ||
| Q3 25 | $88.0M | $49.6M | ||
| Q2 25 | $73.8M | $80.2M | ||
| Q1 25 | $79.9M | $75.7M | ||
| Q4 24 | $344.4M | $95.5M | ||
| Q3 24 | $101.8M | $43.3M | ||
| Q2 24 | $79.5M | $72.3M | ||
| Q1 24 | $88.6M | $43.8M |
| Q4 25 | 160.3% | 43.9% | ||
| Q3 25 | 46.6% | 14.5% | ||
| Q2 25 | 39.1% | 23.5% | ||
| Q1 25 | 42.4% | 22.7% | ||
| Q4 24 | 181.2% | 27.7% | ||
| Q3 24 | 52.6% | 12.7% | ||
| Q2 24 | 41.7% | 21.3% | ||
| Q1 24 | 45.2% | 13.6% |
| Q4 25 | 20.7% | 1.5% | ||
| Q3 25 | 6.5% | 1.5% | ||
| Q2 25 | 3.2% | 1.5% | ||
| Q1 25 | 3.0% | 3.1% | ||
| Q4 24 | 9.8% | 1.3% | ||
| Q3 24 | 2.0% | 1.7% | ||
| Q2 24 | 1.9% | 1.9% | ||
| Q1 24 | 2.7% | 3.4% |
| Q4 25 | 14.79× | 0.70× | ||
| Q3 25 | 5.44× | — | ||
| Q2 25 | 4.10× | 1.17× | ||
| Q1 25 | 6.59× | 2.02× | ||
| Q4 24 | 21.70× | 2.71× | ||
| Q3 24 | 5.65× | 1.06× | ||
| Q2 24 | 4.88× | 1.56× | ||
| Q1 24 | 1.59× | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
