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Side-by-side financial comparison of QUALYS, INC. (QLYS) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $137.5M, roughly 1.3× Terreno Realty Corp). Terreno Realty Corp runs the higher net margin — 115.1% vs 30.3%, a 84.8% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 10.1%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% CAGR vs 9.6%).
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
QLYS vs TRNO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.3M | $137.5M |
| Net Profit | $53.1M | $158.2M |
| Gross Margin | 83.4% | — |
| Operating Margin | 33.6% | — |
| Net Margin | 30.3% | 115.1% |
| Revenue YoY | 10.1% | 32.6% |
| Net Profit YoY | 20.9% | 107.9% |
| EPS (diluted) | $1.47 | $1.54 |
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 | $175.3M | $137.5M | ||
| Q3 25 | $169.9M | $116.2M | ||
| Q2 25 | $164.1M | $112.2M | ||
| Q1 25 | $159.9M | $110.4M | ||
| Q4 24 | $159.2M | $103.7M | ||
| Q3 24 | $153.9M | $99.6M | ||
| Q2 24 | $148.7M | $94.2M | ||
| Q1 24 | $145.8M | $85.0M |
| Q4 25 | $53.1M | $158.2M | ||
| Q3 25 | $50.3M | $103.4M | ||
| Q2 25 | $47.3M | $93.3M | ||
| Q1 25 | $47.5M | $48.1M | ||
| Q4 24 | $44.0M | $76.1M | ||
| Q3 24 | $46.2M | $36.6M | ||
| Q2 24 | $43.8M | $35.7M | ||
| Q1 24 | $39.7M | $36.1M |
| Q4 25 | 83.4% | — | ||
| Q3 25 | 83.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 81.9% | — | ||
| Q4 24 | 81.8% | — | ||
| Q3 24 | 81.3% | — | ||
| Q2 24 | 82.2% | — | ||
| Q1 24 | 81.3% | — |
| Q4 25 | 33.6% | — | ||
| Q3 25 | 35.3% | — | ||
| Q2 25 | 31.3% | — | ||
| Q1 25 | 32.4% | — | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 29.2% | — | ||
| Q2 24 | 32.3% | — | ||
| Q1 24 | 30.7% | — |
| Q4 25 | 30.3% | 115.1% | ||
| Q3 25 | 29.6% | 88.9% | ||
| Q2 25 | 28.8% | 83.1% | ||
| Q1 25 | 29.7% | 43.6% | ||
| Q4 24 | 27.6% | 73.4% | ||
| Q3 24 | 30.0% | 36.8% | ||
| Q2 24 | 29.4% | 37.9% | ||
| Q1 24 | 27.2% | 42.4% |
| Q4 25 | $1.47 | $1.54 | ||
| Q3 25 | $1.39 | $1.00 | ||
| Q2 25 | $1.29 | $0.90 | ||
| Q1 25 | $1.29 | $0.47 | ||
| Q4 24 | $1.19 | $0.78 | ||
| Q3 24 | $1.24 | $0.37 | ||
| Q2 24 | $1.17 | $0.37 | ||
| Q1 24 | $1.05 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.3M | $25.0M |
| Total DebtLower is stronger | — | $943.3M |
| Stockholders' EquityBook value | $561.2M | $4.1B |
| Total Assets | $1.1B | $5.4B |
| Debt / EquityLower = less leverage | — | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.3M | $25.0M | ||
| Q3 25 | $225.3M | $26.2M | ||
| Q2 25 | $194.0M | $128.4M | ||
| Q1 25 | $290.7M | $156.5M | ||
| Q4 24 | $232.2M | $18.1M | ||
| Q3 24 | $235.4M | $243.7M | ||
| Q2 24 | $281.2M | $182.0M | ||
| Q1 24 | $273.8M | $649.6M |
| Q4 25 | — | $943.3M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $742.4M | ||
| Q1 25 | — | $741.9M | ||
| Q4 24 | — | $823.4M | ||
| Q3 24 | — | $672.2M | ||
| Q2 24 | — | $772.0M | ||
| Q1 24 | — | $771.8M |
| Q4 25 | $561.2M | $4.1B | ||
| Q3 25 | $529.4M | $4.0B | ||
| Q2 25 | $508.2M | $3.9B | ||
| Q1 25 | $498.0M | $3.9B | ||
| Q4 24 | $477.1M | $3.7B | ||
| Q3 24 | $449.6M | $3.6B | ||
| Q2 24 | $427.8M | $3.4B | ||
| Q1 24 | $404.2M | $3.4B |
| Q4 25 | $1.1B | $5.4B | ||
| Q3 25 | $1.0B | $5.3B | ||
| Q2 25 | $999.5M | $5.0B | ||
| Q1 25 | $996.5M | $4.9B | ||
| Q4 24 | $973.5M | $4.8B | ||
| Q3 24 | $908.3M | $4.6B | ||
| Q2 24 | $876.6M | $4.5B | ||
| Q1 24 | $861.8M | $4.4B |
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | — | 0.22× | ||
| Q1 24 | — | 0.22× |
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 | $75.7M | $271.9M |
| Free Cash FlowOCF − Capex | $74.9M | — |
| FCF MarginFCF / Revenue | 42.8% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | 1.42× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $304.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.7M | $271.9M | ||
| Q3 25 | $90.4M | $79.5M | ||
| Q2 25 | $33.8M | $60.6M | ||
| Q1 25 | $109.6M | $61.4M | ||
| Q4 24 | $47.7M | $232.7M | ||
| Q3 24 | $61.0M | $70.0M | ||
| Q2 24 | $49.8M | $64.3M | ||
| Q1 24 | $85.5M | $47.0M |
| Q4 25 | $74.9M | — | ||
| Q3 25 | $89.5M | — | ||
| Q2 25 | $32.4M | — | ||
| Q1 25 | $107.5M | — | ||
| Q4 24 | $41.9M | — | ||
| Q3 24 | $57.6M | — | ||
| Q2 24 | $48.8M | — | ||
| Q1 24 | $83.5M | — |
| Q4 25 | 42.8% | — | ||
| Q3 25 | 52.7% | — | ||
| Q2 25 | 19.8% | — | ||
| Q1 25 | 67.3% | — | ||
| Q4 24 | 26.3% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 32.8% | — | ||
| Q1 24 | 57.2% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 1.4% | — |
| Q4 25 | 1.42× | 1.72× | ||
| Q3 25 | 1.80× | 0.77× | ||
| Q2 25 | 0.71× | 0.65× | ||
| Q1 25 | 2.31× | 1.28× | ||
| Q4 24 | 1.09× | 3.06× | ||
| Q3 24 | 1.32× | 1.91× | ||
| Q2 24 | 1.14× | 1.80× | ||
| Q1 24 | 2.15× | 1.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
