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Side-by-side financial comparison of Piedmont Realty Trust, Inc. (PDM) and P10, Inc. (PX). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($143.3M vs $81.0M, roughly 1.8× P10, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -31.4%, a 43.1% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (0.4% vs -4.7%). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs 0.0%).
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
PDM vs PX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.3M | $81.0M |
| Net Profit | $-45.0M | $9.5M |
| Gross Margin | — | — |
| Operating Margin | — | 31.9% |
| Net Margin | -31.4% | 11.7% |
| Revenue YoY | 0.4% | -4.7% |
| Net Profit YoY | -27.9% | 79.0% |
| EPS (diluted) | $-0.10 | $0.08 |
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 | $143.3M | — | ||
| Q4 25 | $142.9M | $81.0M | ||
| Q3 25 | $139.2M | $75.9M | ||
| Q2 25 | $140.3M | $72.7M | ||
| Q1 25 | $142.7M | $67.7M | ||
| Q4 24 | $143.2M | $85.0M | ||
| Q3 24 | $139.3M | $74.2M | ||
| Q2 24 | $143.3M | $71.1M |
| Q1 26 | $-45.0M | — | ||
| Q4 25 | $-43.2M | $9.5M | ||
| Q3 25 | $-13.5M | $2.1M | ||
| Q2 25 | $-16.8M | $3.4M | ||
| Q1 25 | $-10.1M | $4.5M | ||
| Q4 24 | $-30.0M | $5.3M | ||
| Q3 24 | $-11.5M | $1.4M | ||
| Q2 24 | $-9.8M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 14.1% | ||
| Q2 25 | — | 24.4% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 26.9% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 23.7% |
| Q1 26 | -31.4% | — | ||
| Q4 25 | -30.3% | 11.7% | ||
| Q3 25 | -9.7% | 2.8% | ||
| Q2 25 | -12.0% | 4.7% | ||
| Q1 25 | -7.1% | 6.7% | ||
| Q4 24 | -20.9% | 6.2% | ||
| Q3 24 | -8.3% | 1.9% | ||
| Q2 24 | -6.8% | 9.8% |
| Q1 26 | $-0.10 | — | ||
| Q4 25 | $-0.34 | $0.08 | ||
| Q3 25 | $-0.11 | $0.02 | ||
| Q2 25 | $-0.14 | $0.03 | ||
| Q1 25 | $-0.08 | $0.04 | ||
| Q4 24 | $-0.25 | $0.05 | ||
| Q3 24 | $-0.09 | $0.01 | ||
| Q2 24 | $-0.08 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3M | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $1.5B | $403.5M |
| Total Assets | $4.0B | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3M | — | ||
| Q4 25 | $731.0K | $28.2M | ||
| Q3 25 | $3.0M | $40.0M | ||
| Q2 25 | $3.3M | $33.4M | ||
| Q1 25 | $2.9M | $74.4M | ||
| Q4 24 | $109.6M | $67.5M | ||
| Q3 24 | $133.6M | $61.5M | ||
| Q2 24 | $138.5M | $31.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $373.2M | ||
| Q3 25 | $2.2B | $393.4M | ||
| Q2 25 | $2.2B | $373.0M | ||
| Q1 25 | $2.2B | $357.2M | ||
| Q4 24 | $2.2B | $319.8M | ||
| Q3 24 | $2.2B | $319.4M | ||
| Q2 24 | $2.2B | $300.6M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $403.5M | ||
| Q3 25 | $1.5B | $396.8M | ||
| Q2 25 | $1.5B | $388.9M | ||
| Q1 25 | $1.6B | $374.3M | ||
| Q4 24 | $1.6B | $386.9M | ||
| Q3 24 | $1.6B | $394.1M | ||
| Q2 24 | $1.7B | $396.9M |
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $928.3M | ||
| Q3 25 | $4.0B | $936.0M | ||
| Q2 25 | $4.0B | $932.2M | ||
| Q1 25 | $4.0B | $877.4M | ||
| Q4 24 | $4.1B | $869.3M | ||
| Q3 24 | $4.1B | $857.0M | ||
| Q2 24 | $4.2B | $823.2M |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | 0.93× | ||
| Q3 25 | 1.43× | 0.99× | ||
| Q2 25 | 1.41× | 0.96× | ||
| Q1 25 | 1.40× | 0.95× | ||
| Q4 24 | 1.40× | 0.83× | ||
| Q3 24 | 1.36× | 0.81× | ||
| Q2 24 | 1.34× | 0.76× |
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 | — | $23.0M |
| Free Cash FlowOCF − Capex | — | $18.1M |
| FCF MarginFCF / Revenue | — | 22.3% |
| Capex IntensityCapex / Revenue | 110.3% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $140.6M | $23.0M | ||
| Q3 25 | $35.8M | $-8.6M | ||
| Q2 25 | $50.1M | $13.4M | ||
| Q1 25 | $3.7M | $-4.7M | ||
| Q4 24 | $198.1M | $101.0M | ||
| Q3 24 | $42.9M | $27.5M | ||
| Q2 24 | $66.8M | $34.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $18.1M | ||
| Q3 25 | — | $-9.5M | ||
| Q2 25 | — | $11.6M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $25.2M | ||
| Q2 24 | — | $33.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | -12.6% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | -8.9% | ||
| Q4 24 | — | 113.6% | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | — | 47.7% |
| Q1 26 | 110.3% | — | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | — | 4.98× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PDM
Segment breakdown not available.
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
