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Side-by-side financial comparison of POTLATCHDELTIC CORP (PCH) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $314.2M, roughly 1.2× POTLATCHDELTIC CORP). POTLATCHDELTIC CORP runs the higher net margin — 8.2% vs -1.9%, a 10.2% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 23.1%). Over the past eight quarters, POTLATCHDELTIC CORP's revenue compounded faster (11.1% CAGR vs 10.2%).
POTLATCHDELTIC CORPPCHEarnings & Financial Report
PotlatchDeltic Corporation is an American diversified forest products company based in Spokane, Washington.
Innovate Corp. is an American public financial services company founded in 1994.
PCH vs VATE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $314.2M | $382.7M |
| Net Profit | $25.9M | $-7.4M |
| Gross Margin | 18.2% | 15.4% |
| Operating Margin | 11.2% | 3.7% |
| Net Margin | 8.2% | -1.9% |
| Revenue YoY | 23.1% | 61.7% |
| Net Profit YoY | 682.5% | 55.4% |
| EPS (diluted) | $0.33 | $-0.57 |
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 | — | $382.7M | ||
| Q3 25 | $314.2M | $347.1M | ||
| Q2 25 | $275.0M | $242.0M | ||
| Q1 25 | $268.3M | $274.2M | ||
| Q4 24 | $258.1M | $236.6M | ||
| Q3 24 | $255.1M | $242.2M | ||
| Q2 24 | $320.7M | $313.1M | ||
| Q1 24 | $228.1M | $315.2M |
| Q4 25 | — | $-7.4M | ||
| Q3 25 | $25.9M | $-8.9M | ||
| Q2 25 | $7.4M | $-19.8M | ||
| Q1 25 | $25.8M | $-24.5M | ||
| Q4 24 | $5.2M | $-16.6M | ||
| Q3 24 | $3.3M | $-15.0M | ||
| Q2 24 | $13.7M | $14.4M | ||
| Q1 24 | $-305.0K | $-17.4M |
| Q4 25 | — | 15.4% | ||
| Q3 25 | 18.2% | 14.3% | ||
| Q2 25 | 13.0% | 18.8% | ||
| Q1 25 | 17.8% | 16.6% | ||
| Q4 24 | 13.4% | 19.6% | ||
| Q3 24 | 10.8% | 19.9% | ||
| Q2 24 | 11.9% | 21.0% | ||
| Q1 24 | 7.0% | 15.4% |
| Q4 25 | — | 3.7% | ||
| Q3 25 | 11.2% | 1.8% | ||
| Q2 25 | 5.0% | 2.0% | ||
| Q1 25 | 10.3% | 1.2% | ||
| Q4 24 | 5.2% | 1.1% | ||
| Q3 24 | 2.8% | 2.4% | ||
| Q2 24 | 5.4% | 9.2% | ||
| Q1 24 | -2.1% | 0.9% |
| Q4 25 | — | -1.9% | ||
| Q3 25 | 8.2% | -2.6% | ||
| Q2 25 | 2.7% | -8.2% | ||
| Q1 25 | 9.6% | -8.9% | ||
| Q4 24 | 2.0% | -7.0% | ||
| Q3 24 | 1.3% | -6.2% | ||
| Q2 24 | 4.3% | 4.6% | ||
| Q1 24 | -0.1% | -5.5% |
| Q4 25 | — | $-0.57 | ||
| Q3 25 | $0.33 | $-0.71 | ||
| Q2 25 | $0.09 | $-1.67 | ||
| Q1 25 | $0.33 | $-1.89 | ||
| Q4 24 | $0.07 | $-0.72 | ||
| Q3 24 | $0.04 | $-1.18 | ||
| Q2 24 | $0.17 | $1.03 | ||
| Q1 24 | $0.00 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $88.8M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $1.9B | $-240.1M |
| Total Assets | $3.2B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $112.1M | ||
| Q3 25 | $88.8M | $35.5M | ||
| Q2 25 | $95.3M | $33.4M | ||
| Q1 25 | $147.5M | $33.3M | ||
| Q4 24 | $151.6M | $48.8M | ||
| Q3 24 | $161.1M | $51.0M | ||
| Q2 24 | $199.7M | $80.2M | ||
| Q1 24 | $180.2M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $1.0B | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | — | $-240.1M | ||
| Q3 25 | $1.9B | $-233.3M | ||
| Q2 25 | $1.9B | $-224.8M | ||
| Q1 25 | $2.0B | $-204.2M | ||
| Q4 24 | $2.0B | $-180.4M | ||
| Q3 24 | $2.1B | $-163.1M | ||
| Q2 24 | $2.1B | $-149.0M | ||
| Q1 24 | $2.2B | $-184.4M |
| Q4 25 | — | $950.1M | ||
| Q3 25 | $3.2B | $913.2M | ||
| Q2 25 | $3.2B | $890.9M | ||
| Q1 25 | $3.3B | $868.0M | ||
| Q4 24 | $3.3B | $891.1M | ||
| Q3 24 | $3.3B | $897.2M | ||
| Q2 24 | $3.4B | $898.9M | ||
| Q1 24 | $3.4B | $943.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.51× | — | ||
| 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 | $65.7M | $101.1M |
| Free Cash FlowOCF − Capex | $50.1M | — |
| FCF MarginFCF / Revenue | 15.9% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | 2.54× | — |
| TTM Free Cash FlowTrailing 4 quarters | $132.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $101.1M | ||
| Q3 25 | $65.7M | $19.2M | ||
| Q2 25 | $41.0M | $40.4M | ||
| Q1 25 | $49.1M | $-14.1M | ||
| Q4 24 | $45.4M | $41.4M | ||
| Q3 24 | $26.5M | $-28.4M | ||
| Q2 24 | $100.6M | $21.5M | ||
| Q1 24 | $16.0M | $-25.4M |
| Q4 25 | — | — | ||
| Q3 25 | $50.1M | $19.0M | ||
| Q2 25 | $30.6M | — | ||
| Q1 25 | $26.3M | $-18.8M | ||
| Q4 24 | $25.4M | $34.2M | ||
| Q3 24 | $-8.2M | $-31.5M | ||
| Q2 24 | $72.4M | $18.4M | ||
| Q1 24 | $2.0M | $-31.0M |
| Q4 25 | — | — | ||
| Q3 25 | 15.9% | 5.5% | ||
| Q2 25 | 11.1% | — | ||
| Q1 25 | 9.8% | -6.9% | ||
| Q4 24 | 9.9% | 14.5% | ||
| Q3 24 | -3.2% | -13.0% | ||
| Q2 24 | 22.6% | 5.9% | ||
| Q1 24 | 0.9% | -9.8% |
| Q4 25 | — | — | ||
| Q3 25 | 4.9% | 0.1% | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 8.5% | 1.7% | ||
| Q4 24 | 7.7% | 3.0% | ||
| Q3 24 | 13.6% | 1.3% | ||
| Q2 24 | 8.8% | 1.0% | ||
| Q1 24 | 6.1% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | 2.54× | — | ||
| Q2 25 | 5.58× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 8.74× | — | ||
| Q3 24 | 7.99× | — | ||
| Q2 24 | 7.35× | 1.49× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCH
| Lumber | $131.8M | 42% |
| Timberlands | $52.5M | 17% |
| Rural Real Estate | $51.3M | 16% |
| Residuals And Panels | $34.0M | 11% |
| Pulpwood | $16.7M | 5% |
| Development Real Estate | $14.6M | 5% |
| Other | $8.1M | 3% |
| Other Products | $5.2M | 2% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
