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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and WORKIVA INC (WK). Click either name above to swap in a different company.
WORKIVA INC is the larger business by last-quarter revenue ($238.9M vs $187.0M, roughly 1.3× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 4.9%, a 7.3% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $50.7M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
NSA vs WK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $238.9M |
| Net Profit | $22.9M | $11.8M |
| Gross Margin | 72.5% | 80.7% |
| Operating Margin | 20.2% | 3.3% |
| Net Margin | 12.2% | 4.9% |
| Revenue YoY | -1.6% | 19.5% |
| Net Profit YoY | 36.8% | 234.0% |
| EPS (diluted) | $0.23 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $188.7M | $224.2M | ||
| Q2 25 | $188.8M | $215.2M | ||
| Q1 25 | $188.4M | $206.3M | ||
| Q4 24 | $190.1M | $199.9M | ||
| Q3 24 | $193.6M | $185.6M | ||
| Q2 24 | $190.4M | $177.5M | ||
| Q1 24 | $196.1M | $175.7M |
| Q4 25 | $22.9M | $11.8M | ||
| Q3 25 | $18.4M | $2.8M | ||
| Q2 25 | $19.5M | $-19.4M | ||
| Q1 25 | $13.0M | $-21.4M | ||
| Q4 24 | $16.7M | $-8.8M | ||
| Q3 24 | $18.7M | $-17.0M | ||
| Q2 24 | $17.1M | $-17.5M | ||
| Q1 24 | $59.0M | $-11.7M |
| Q4 25 | 72.5% | 80.7% | ||
| Q3 25 | 70.7% | 79.3% | ||
| Q2 25 | 70.5% | 77.0% | ||
| Q1 25 | 70.7% | 76.6% | ||
| Q4 24 | 72.5% | 77.1% | ||
| Q3 24 | 72.8% | 76.5% | ||
| Q2 24 | 72.6% | 76.8% | ||
| Q1 24 | 72.1% | 76.4% |
| Q4 25 | 20.2% | 3.3% | ||
| Q3 25 | 15.8% | -1.5% | ||
| Q2 25 | 16.5% | -10.3% | ||
| Q1 25 | 11.0% | -12.0% | ||
| Q4 24 | 14.5% | -6.7% | ||
| Q3 24 | 15.8% | -11.7% | ||
| Q2 24 | 17.2% | -13.0% | ||
| Q1 24 | 48.9% | -10.4% |
| Q4 25 | 12.2% | 4.9% | ||
| Q3 25 | 9.8% | 1.2% | ||
| Q2 25 | 10.3% | -9.0% | ||
| Q1 25 | 6.9% | -10.4% | ||
| Q4 24 | 8.8% | -4.4% | ||
| Q3 24 | 9.7% | -9.2% | ||
| Q2 24 | 9.0% | -9.9% | ||
| Q1 24 | 30.1% | -6.7% |
| Q4 25 | $0.23 | $0.21 | ||
| Q3 25 | $0.17 | $0.05 | ||
| Q2 25 | $0.19 | $-0.35 | ||
| Q1 25 | $0.10 | $-0.38 | ||
| Q4 24 | $0.19 | $-0.15 | ||
| Q3 24 | $0.18 | $-0.31 | ||
| Q2 24 | $0.16 | $-0.32 | ||
| Q1 24 | $0.65 | $-0.21 |
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 | $338.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $946.0M | $-5.4M |
| Total Assets | $5.1B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $338.8M | ||
| Q3 25 | $26.3M | $315.9M | ||
| Q2 25 | $26.1M | $284.3M | ||
| Q1 25 | $19.3M | $242.0M | ||
| Q4 24 | $50.4M | $301.8M | ||
| Q3 24 | $69.9M | $248.2M | ||
| Q2 24 | $59.0M | $267.9M | ||
| Q1 24 | $64.2M | $296.1M |
| Q4 25 | $946.0M | $-5.4M | ||
| Q3 25 | $973.1M | $-36.9M | ||
| Q2 25 | $1.0B | $-66.5M | ||
| Q1 25 | $1.0B | $-75.7M | ||
| Q4 24 | $1.1B | $-41.7M | ||
| Q3 24 | $986.9M | $-50.8M | ||
| Q2 24 | $1.2B | $-77.7M | ||
| Q1 24 | $1.3B | $-83.2M |
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $5.1B | $1.4B | ||
| Q2 25 | $5.2B | $1.3B | ||
| Q1 25 | $5.3B | $1.3B | ||
| Q4 24 | $5.4B | $1.4B | ||
| Q3 24 | $5.4B | $1.3B | ||
| Q2 24 | $5.3B | $1.2B | ||
| Q1 24 | $5.4B | $1.2B |
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 | $51.0M |
| Free Cash FlowOCF − Capex | $299.8M | $50.7M |
| FCF MarginFCF / Revenue | 160.3% | 21.2% |
| Capex IntensityCapex / Revenue | 20.7% | 0.1% |
| Cash ConversionOCF / Net Profit | 14.79× | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $51.0M | ||
| Q3 25 | $100.2M | $46.2M | ||
| Q2 25 | $79.9M | $50.3M | ||
| Q1 25 | $85.6M | $-7.4M | ||
| Q4 24 | $363.1M | $44.0M | ||
| Q3 24 | $105.7M | $18.9M | ||
| Q2 24 | $83.2M | $-14.0K | ||
| Q1 24 | $94.0M | $24.8M |
| Q4 25 | $299.8M | $50.7M | ||
| Q3 25 | $88.0M | $46.1M | ||
| Q2 25 | $73.8M | $49.3M | ||
| Q1 25 | $79.9M | $-8.1M | ||
| Q4 24 | $344.4M | $43.2M | ||
| Q3 24 | $101.8M | $18.7M | ||
| Q2 24 | $79.5M | $-122.0K | ||
| Q1 24 | $88.6M | $24.6M |
| Q4 25 | 160.3% | 21.2% | ||
| Q3 25 | 46.6% | 20.5% | ||
| Q2 25 | 39.1% | 22.9% | ||
| Q1 25 | 42.4% | -3.9% | ||
| Q4 24 | 181.2% | 21.6% | ||
| Q3 24 | 52.6% | 10.1% | ||
| Q2 24 | 41.7% | -0.1% | ||
| Q1 24 | 45.2% | 14.0% |
| Q4 25 | 20.7% | 0.1% | ||
| Q3 25 | 6.5% | 0.0% | ||
| Q2 25 | 3.2% | 0.5% | ||
| Q1 25 | 3.0% | 0.4% | ||
| Q4 24 | 9.8% | 0.4% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 1.9% | 0.1% | ||
| Q1 24 | 2.7% | 0.1% |
| Q4 25 | 14.79× | 4.31× | ||
| Q3 25 | 5.44× | 16.57× | ||
| Q2 25 | 4.10× | — | ||
| Q1 25 | 6.59× | — | ||
| Q4 24 | 21.70× | — | ||
| Q3 24 | 5.65× | — | ||
| Q2 24 | 4.88× | — | ||
| 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.
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
