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Side-by-side financial comparison of Plymouth Industrial REIT, Inc. (PLYM) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $51.2M, roughly 1.9× Plymouth Industrial REIT, Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -106.3%, a 134.7% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs -1.4%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% CAGR vs 0.4%).
Plymouth Industrial REIT, Inc. is a real estate investment trust focused on owning, operating, and acquiring high-quality industrial properties including distribution centers, warehouses, and light industrial facilities across key U.S. logistics hubs. It serves tenants in e-commerce, retail, manufacturing, and third-party logistics sectors, supporting diverse business supply chain needs.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
PLYM vs SAFE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.2M | $97.9M |
| Net Profit | $-54.4M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | -102.5% | 27.4% |
| Net Margin | -106.3% | 28.5% |
| Revenue YoY | -1.4% | 6.5% |
| Net Profit YoY | -248.5% | 7.1% |
| EPS (diluted) | $-1.23 | $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 | — | $97.9M | ||
| Q3 25 | $51.2M | $96.2M | ||
| Q2 25 | $47.2M | $93.8M | ||
| Q1 25 | $45.6M | $97.7M | ||
| Q4 24 | $47.6M | $91.9M | ||
| Q3 24 | $51.9M | $90.7M | ||
| Q2 24 | $48.7M | $89.9M | ||
| Q1 24 | $50.2M | $93.2M |
| Q4 25 | — | $27.9M | ||
| Q3 25 | $-54.4M | $29.3M | ||
| Q2 25 | $-6.1M | $27.9M | ||
| Q1 25 | $5.8M | $29.4M | ||
| Q4 24 | $147.4M | $26.0M | ||
| Q3 24 | $-15.6M | $19.3M | ||
| Q2 24 | $1.3M | $29.7M | ||
| Q1 24 | $6.2M | $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 | — | 27.4% | ||
| Q3 25 | -102.5% | 25.9% | ||
| Q2 25 | -10.3% | 25.5% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | -29.6% | 17.5% | ||
| Q2 24 | 2.7% | 26.7% | ||
| Q1 24 | — | 26.4% |
| Q4 25 | — | 28.5% | ||
| Q3 25 | -106.3% | 30.5% | ||
| Q2 25 | -12.9% | 29.8% | ||
| Q1 25 | 12.8% | 30.1% | ||
| Q4 24 | 309.9% | 28.3% | ||
| Q3 24 | -30.1% | 21.3% | ||
| Q2 24 | 2.7% | 33.0% | ||
| Q1 24 | 12.4% | 33.0% |
| Q4 25 | — | $0.38 | ||
| Q3 25 | $-1.23 | $0.41 | ||
| Q2 25 | $-0.14 | $0.39 | ||
| Q1 25 | $0.13 | $0.41 | ||
| Q4 24 | $3.24 | $0.36 | ||
| Q3 24 | $-0.35 | $0.27 | ||
| Q2 24 | $0.03 | $0.42 | ||
| Q1 24 | $0.14 | $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 | — | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $470.1M | $2.4B |
| Total Assets | $1.6B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $21.7M | ||
| Q3 25 | — | $12.1M | ||
| Q2 25 | — | $13.9M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $13.4M | ||
| Q1 24 | — | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $646.4M | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | — | $2.4B | ||
| Q3 25 | $470.1M | $2.4B | ||
| Q2 25 | $539.6M | $2.4B | ||
| Q1 25 | $571.0M | $2.4B | ||
| Q4 24 | $579.5M | $2.3B | ||
| Q3 24 | $436.5M | $2.3B | ||
| Q2 24 | $475.2M | $2.3B | ||
| Q1 24 | $484.6M | $2.3B |
| Q4 25 | — | $7.2B | ||
| Q3 25 | $1.6B | $7.1B | ||
| Q2 25 | $1.6B | $7.1B | ||
| Q1 25 | $1.4B | $6.9B | ||
| Q4 24 | $1.4B | $6.9B | ||
| Q3 24 | $1.5B | $6.8B | ||
| Q2 24 | $1.4B | $6.8B | ||
| Q1 24 | $1.4B | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | 1.12× | 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 | $20.0M | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $47.8M | ||
| Q3 25 | $20.0M | $-1.4M | ||
| Q2 25 | $23.4M | $28.0M | ||
| Q1 25 | $15.6M | $8.9M | ||
| Q4 24 | $96.1M | $37.9M | ||
| Q3 24 | $17.6M | $8.3M | ||
| Q2 24 | $19.9M | $24.8M | ||
| Q1 24 | $16.6M | $-3.1M |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | 2.67× | 0.30× | ||
| Q4 24 | 0.65× | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | 15.12× | 0.83× | ||
| Q1 24 | 2.67× | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PLYM
Segment breakdown not available.
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
