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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and Whitestone REIT (WSR). Click either name above to swap in a different company.
Whitestone REIT is the larger business by last-quarter revenue ($43.9M vs $40.7M, roughly 1.1× PETMED EXPRESS INC). Whitestone REIT runs the higher net margin — 52.0% vs -26.0%, a 78.0% gap on every dollar of revenue. On growth, Whitestone REIT posted the faster year-over-year revenue change (7.5% vs -23.3%). Whitestone REIT produced more free cash flow last quarter ($50.5M vs $-9.2M). Over the past eight quarters, Whitestone REIT's revenue compounded faster (8.7% CAGR vs -20.9%).
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
Whitestone REIT is a publicly traded real estate investment trust that acquires, owns, manages and redevelops open-air community shopping centers, primarily located in high-growth metropolitan areas across the southwestern and southeastern United States. Its property portfolio is largely anchored by daily necessity, service-focused retail tenants that cater to regular local consumer demand.
PETS vs WSR — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $43.9M |
| Net Profit | $-10.6M | $22.8M |
| Gross Margin | 23.3% | — |
| Operating Margin | -25.7% | 53.0% |
| Net Margin | -26.0% | 52.0% |
| Revenue YoY | -23.3% | 7.5% |
| Net Profit YoY | -1392.6% | 31.7% |
| EPS (diluted) | $-0.50 | $0.43 |
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 | $40.7M | $43.9M | ||
| Q3 25 | $44.4M | $41.0M | ||
| Q2 25 | $51.2M | $37.9M | ||
| Q1 25 | $50.8M | $38.0M | ||
| Q4 24 | $52.0M | $40.8M | ||
| Q3 24 | $58.0M | $38.6M | ||
| Q2 24 | $66.2M | $37.6M | ||
| Q1 24 | $65.1M | $37.2M |
| Q4 25 | $-10.6M | $22.8M | ||
| Q3 25 | $-8.5M | $18.3M | ||
| Q2 25 | $-34.2M | $5.1M | ||
| Q1 25 | $-11.6M | $3.7M | ||
| Q4 24 | $-707.0K | $17.3M | ||
| Q3 24 | $2.3M | $7.6M | ||
| Q2 24 | $3.8M | $2.6M | ||
| Q1 24 | $-5.0M | $9.3M |
| Q4 25 | 23.3% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 29.9% | — | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 32.3% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | 29.3% | — |
| Q4 25 | -25.7% | 53.0% | ||
| Q3 25 | -18.9% | 45.5% | ||
| Q2 25 | -66.7% | 13.8% | ||
| Q1 25 | -11.9% | 10.2% | ||
| Q4 24 | -0.9% | 43.3% | ||
| Q3 24 | 1.0% | 20.3% | ||
| Q2 24 | 6.6% | 7.2% | ||
| Q1 24 | -5.9% | 25.9% |
| Q4 25 | -26.0% | 52.0% | ||
| Q3 25 | -19.2% | 44.7% | ||
| Q2 25 | -66.7% | 13.3% | ||
| Q1 25 | -22.9% | 9.7% | ||
| Q4 24 | -1.4% | 42.5% | ||
| Q3 24 | 4.0% | 19.7% | ||
| Q2 24 | 5.7% | 6.9% | ||
| Q1 24 | -7.7% | 25.1% |
| Q4 25 | $-0.50 | $0.43 | ||
| Q3 25 | $-0.41 | $0.35 | ||
| Q2 25 | $-1.65 | $0.10 | ||
| Q1 25 | $-0.56 | $0.07 | ||
| Q4 24 | $-0.03 | $0.34 | ||
| Q3 24 | $0.11 | $0.15 | ||
| Q2 24 | $0.18 | $0.05 | ||
| Q1 24 | $-0.24 | $0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $26.9M | $4.9M |
| Total DebtLower is stronger | — | $649.4M |
| Stockholders' EquityBook value | $32.8M | $458.1M |
| Total Assets | $88.0M | $1.2B |
| Debt / EquityLower = less leverage | — | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $4.9M | ||
| Q3 25 | $36.1M | $6.8M | ||
| Q2 25 | $41.1M | $5.3M | ||
| Q1 25 | $54.7M | $5.6M | ||
| Q4 24 | $50.1M | $5.2M | ||
| Q3 24 | $52.0M | $2.5M | ||
| Q2 24 | $46.0M | $3.2M | ||
| Q1 24 | $55.3M | $6.2M |
| Q4 25 | — | $649.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $632.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $32.8M | $458.1M | ||
| Q3 25 | $43.1M | $439.5M | ||
| Q2 25 | $51.5M | $427.5M | ||
| Q1 25 | $85.1M | $431.0M | ||
| Q4 24 | $96.2M | $438.2M | ||
| Q3 24 | $96.4M | $419.5M | ||
| Q2 24 | $93.5M | $418.3M | ||
| Q1 24 | $96.7M | $421.6M |
| Q4 25 | $88.0M | $1.2B | ||
| Q3 25 | $100.3M | $1.1B | ||
| Q2 25 | $109.8M | $1.2B | ||
| Q1 25 | $148.7M | $1.1B | ||
| Q4 24 | $144.8M | $1.1B | ||
| Q3 24 | $146.0M | $1.1B | ||
| Q2 24 | $152.7M | $1.1B | ||
| Q1 24 | $169.9M | $1.1B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.44× | ||
| 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 | $-9.2M | $50.8M |
| Free Cash FlowOCF − Capex | $-9.2M | $50.5M |
| FCF MarginFCF / Revenue | -22.7% | 114.9% |
| Capex IntensityCapex / Revenue | 0.1% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 2.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $50.8M | ||
| Q3 25 | $-2.2M | $18.0M | ||
| Q2 25 | $-12.3M | $13.8M | ||
| Q1 25 | $7.0M | $3.1M | ||
| Q4 24 | $-1.2M | $58.2M | ||
| Q3 24 | $7.4M | $16.4M | ||
| Q2 24 | $-8.5M | $12.3M | ||
| Q1 24 | $7.1M | $11.5M |
| Q4 25 | $-9.2M | $50.5M | ||
| Q3 25 | $-4.8M | — | ||
| Q2 25 | $-13.6M | — | ||
| Q1 25 | $4.6M | — | ||
| Q4 24 | $-1.9M | $58.0M | ||
| Q3 24 | $6.1M | — | ||
| Q2 24 | $-9.2M | — | ||
| Q1 24 | $5.9M | — |
| Q4 25 | -22.7% | 114.9% | ||
| Q3 25 | -10.8% | — | ||
| Q2 25 | -26.5% | — | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | -3.7% | 142.1% | ||
| Q3 24 | 10.6% | — | ||
| Q2 24 | -13.9% | — | ||
| Q1 24 | 9.0% | — |
| Q4 25 | 0.1% | 0.7% | ||
| Q3 25 | 5.9% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | 1.5% | 0.5% | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | — | 2.22× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 2.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 3.36× | ||
| Q3 24 | 3.18× | 2.15× | ||
| Q2 24 | -2.27× | 4.73× | ||
| Q1 24 | — | 1.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
WSR
Segment breakdown not available.
