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Side-by-side financial comparison of Phreesia, Inc. (PHR) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Phreesia, Inc. is the larger business by last-quarter revenue ($120.3M vs $97.9M, roughly 1.2× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 3.5%, a 24.9% gap on every dollar of revenue. On growth, Phreesia, Inc. posted the faster year-over-year revenue change (12.7% vs 6.5%).
Phreesia, Inc. is a software as a service company that offers healthcare organizations a set of applications to automate and manage patient intake.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
PHR vs SAFE — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.3M | $97.9M |
| Net Profit | $4.3M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 3.1% | 27.4% |
| Net Margin | 3.5% | 28.5% |
| Revenue YoY | 12.7% | 6.5% |
| Net Profit YoY | 129.7% | 7.1% |
| EPS (diluted) | $0.07 | $0.38 |
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 | $120.3M | $97.9M | ||
| Q3 25 | $117.3M | $96.2M | ||
| Q2 25 | $115.9M | $93.8M | ||
| Q1 25 | — | $97.7M | ||
| Q4 24 | — | $91.9M | ||
| Q3 24 | — | $90.7M | ||
| Q2 24 | — | $89.9M | ||
| Q1 24 | — | $93.2M |
| Q4 25 | $4.3M | $27.9M | ||
| Q3 25 | $654.0K | $29.3M | ||
| Q2 25 | $-3.9M | $27.9M | ||
| Q1 25 | — | $29.4M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | — | $19.3M | ||
| Q2 24 | — | $29.7M | ||
| Q1 24 | — | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | 3.1% | 27.4% | ||
| Q3 25 | -1.3% | 25.9% | ||
| Q2 25 | -2.8% | 25.5% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 17.5% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | — | 26.4% |
| Q4 25 | 3.5% | 28.5% | ||
| Q3 25 | 0.6% | 30.5% | ||
| Q2 25 | -3.4% | 29.8% | ||
| Q1 25 | — | 30.1% | ||
| Q4 24 | — | 28.3% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | — | 33.0% | ||
| Q1 24 | — | 33.0% |
| Q4 25 | $0.07 | $0.38 | ||
| Q3 25 | $0.01 | $0.41 | ||
| Q2 25 | $-0.07 | $0.39 | ||
| Q1 25 | — | $0.41 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.42 | ||
| Q1 24 | — | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $106.4M | $21.7M |
| Total DebtLower is stronger | $3.4M | $4.6B |
| Stockholders' EquityBook value | $320.3M | $2.4B |
| Total Assets | $423.5M | $7.2B |
| Debt / EquityLower = less leverage | 0.01× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.4M | $21.7M | ||
| Q3 25 | $98.3M | $12.1M | ||
| Q2 25 | $90.9M | $13.9M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $13.4M | ||
| Q1 24 | — | $11.3M |
| Q4 25 | $3.4M | $4.6B | ||
| Q3 25 | $4.6M | $4.5B | ||
| Q2 25 | $6.2M | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $320.3M | $2.4B | ||
| Q3 25 | $298.0M | $2.4B | ||
| Q2 25 | $282.2M | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | $423.5M | $7.2B | ||
| Q3 25 | $408.6M | $7.1B | ||
| Q2 25 | $400.4M | $7.1B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $6.9B | ||
| Q3 24 | — | $6.8B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | 0.01× | 1.90× | ||
| Q3 25 | 0.02× | 1.89× | ||
| Q2 25 | 0.02× | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $15.5M | $47.8M |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 10.1% | — |
| Capex IntensityCapex / Revenue | 2.7% | — |
| Cash ConversionOCF / Net Profit | 3.62× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.5M | $47.8M | ||
| Q3 25 | $14.8M | $-1.4M | ||
| Q2 25 | $14.8M | $28.0M | ||
| Q1 25 | — | $8.9M | ||
| Q4 24 | — | $37.9M | ||
| Q3 24 | — | $8.3M | ||
| Q2 24 | — | $24.8M | ||
| Q1 24 | — | $-3.1M |
| Q4 25 | $12.2M | — | ||
| Q3 25 | $13.1M | — | ||
| Q2 25 | $11.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 10.1% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 3.62× | 1.72× | ||
| Q3 25 | 22.68× | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PHR
| Subscription And Services | $55.5M | 46% |
| Network Solutions | $37.4M | 31% |
| Payment Processing Fees | $27.4M | 23% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
