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Side-by-side financial comparison of NETSTREIT Corp. (NTST) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $57.1M, roughly 1.0× NETSTREIT Corp.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 24.3%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
NTST vs PHAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.1M | $57.6M |
| Net Profit | $5.7M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | 34.1% | — |
| Net Margin | 10.0% | — |
| Revenue YoY | 24.3% | 94.1% |
| Net Profit YoY | 235.9% | 71.6% |
| EPS (diluted) | $0.32 | — |
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.
| Q1 26 | $57.1M | — | ||
| Q4 25 | $52.5M | $57.6M | ||
| Q3 25 | $48.3M | $49.5M | ||
| Q2 25 | $48.3M | $39.5M | ||
| Q1 25 | $45.9M | $28.5M | ||
| Q4 24 | $44.1M | $29.7M | ||
| Q3 24 | $41.4M | $16.4M | ||
| Q2 24 | $39.6M | $7.3M |
| Q1 26 | $5.7M | — | ||
| Q4 25 | $1.3M | — | ||
| Q3 25 | $618.0K | $-30.0M | ||
| Q2 25 | $3.3M | $-75.8M | ||
| Q1 25 | $1.7M | $-94.3M | ||
| Q4 24 | $-5.4M | — | ||
| Q3 24 | $-5.3M | $-85.6M | ||
| Q2 24 | $-2.3M | $-91.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% |
| Q1 26 | 34.1% | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.3% | -30.8% | ||
| Q2 25 | 6.8% | -151.7% | ||
| Q1 25 | 3.7% | -276.5% | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -12.8% | -433.0% | ||
| Q2 24 | -5.8% | -1055.4% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 2.5% | — | ||
| Q3 25 | 1.3% | -60.5% | ||
| Q2 25 | 6.8% | -191.9% | ||
| Q1 25 | 3.7% | -330.7% | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -12.8% | -523.3% | ||
| Q2 24 | -5.8% | -1248.6% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | $0.01 | — | ||
| Q3 25 | $0.01 | $-0.41 | ||
| Q2 25 | $0.04 | $-1.05 | ||
| Q1 25 | $0.02 | $-1.31 | ||
| Q4 24 | $-0.07 | — | ||
| Q3 24 | $-0.07 | $-1.32 | ||
| Q2 24 | $-0.03 | $-1.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $1.5B | $-438.2M |
| Total Assets | $2.8B | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $130.0M | ||
| Q3 25 | — | $135.2M | ||
| Q2 25 | — | $149.6M | ||
| Q1 25 | — | $212.3M | ||
| Q4 24 | — | $297.3M | ||
| Q3 24 | — | $334.7M | ||
| Q2 24 | — | $276.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $209.1M | ||
| Q3 25 | $1.1B | $207.1M | ||
| Q2 25 | $926.6M | $205.1M | ||
| Q1 25 | $913.3M | $203.2M | ||
| Q4 24 | $868.3M | $201.4M | ||
| Q3 24 | $778.7M | $175.7M | ||
| Q2 24 | $726.2M | $174.4M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $-438.2M | ||
| Q3 25 | $1.3B | $-422.5M | ||
| Q2 25 | $1.3B | $-405.8M | ||
| Q1 25 | $1.3B | $-338.4M | ||
| Q4 24 | $1.3B | $-253.6M | ||
| Q3 24 | $1.3B | $-187.1M | ||
| Q2 24 | $1.3B | $-233.8M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $259.1M | ||
| Q3 25 | $2.5B | $240.3M | ||
| Q2 25 | $2.3B | $250.2M | ||
| Q1 25 | $2.3B | $294.2M | ||
| Q4 24 | $2.3B | $378.3M | ||
| Q3 24 | $2.2B | $387.0M | ||
| Q2 24 | $2.1B | $319.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.84× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.58× | — | ||
| Q2 24 | 0.55× | — |
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 | — | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $109.5M | $-166.8M | ||
| Q3 25 | $28.0M | $-14.1M | ||
| Q2 25 | $30.6M | $-62.7M | ||
| Q1 25 | $22.1M | $-84.9M | ||
| Q4 24 | $90.2M | $-266.8M | ||
| Q3 24 | $25.1M | $-63.6M | ||
| Q2 24 | $25.4M | $-70.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | — | $-70.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | — | -966.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 82.46× | — | ||
| Q3 25 | 45.27× | — | ||
| Q2 25 | 9.36× | — | ||
| Q1 25 | 13.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
PHAT
Segment breakdown not available.
