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Side-by-side financial comparison of READING INTERNATIONAL INC (RDI) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $35.0M, roughly 1.4× TPG RE Finance Trust, Inc.). TPG RE Finance Trust, Inc. runs the higher net margin — 15.6% vs -5.1%, a 20.7% gap on every dollar of revenue. On growth, TPG RE Finance Trust, Inc. posted the faster year-over-year revenue change (0.9% vs -14.2%). Over the past eight quarters, READING INTERNATIONAL INC's revenue compounded faster (5.6% CAGR vs -5.1%).
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
RDI vs TRTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.3M | $35.0M |
| Net Profit | $-2.6M | $4.0M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | 11.6% |
| Net Margin | -5.1% | 15.6% |
| Revenue YoY | -14.2% | 0.9% |
| Net Profit YoY | -14.5% | -62.8% |
| EPS (diluted) | $-0.11 | $0.01 |
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 | $50.3M | $35.0M | ||
| Q3 25 | $52.2M | $37.8M | ||
| Q2 25 | $60.4M | $36.2M | ||
| Q1 25 | $40.2M | $37.0M | ||
| Q4 24 | $58.6M | $34.7M | ||
| Q3 24 | $60.1M | $40.1M | ||
| Q2 24 | $46.8M | $39.3M | ||
| Q1 24 | $45.1M | $38.9M |
| Q4 25 | $-2.6M | $4.0M | ||
| Q3 25 | $-4.2M | $22.0M | ||
| Q2 25 | $-2.7M | $20.6M | ||
| Q1 25 | $-4.8M | $13.7M | ||
| Q4 24 | $-2.2M | $10.7M | ||
| Q3 24 | $-7.0M | $22.2M | ||
| Q2 24 | $-12.8M | $24.7M | ||
| Q1 24 | $-13.2M | $16.7M |
| Q4 25 | -1.9% | 11.6% | ||
| Q3 25 | -0.6% | 58.4% | ||
| Q2 25 | 4.8% | 57.3% | ||
| Q1 25 | -17.2% | 37.2% | ||
| Q4 24 | 2.6% | 30.3% | ||
| Q3 24 | -0.6% | 55.4% | ||
| Q2 24 | -16.4% | 63.1% | ||
| Q1 24 | -16.7% | 44.0% |
| Q4 25 | -5.1% | 15.6% | ||
| Q3 25 | -8.0% | 58.1% | ||
| Q2 25 | -4.4% | 57.0% | ||
| Q1 25 | -11.8% | 37.0% | ||
| Q4 24 | -3.8% | 43.3% | ||
| Q3 24 | -11.7% | 55.3% | ||
| Q2 24 | -27.4% | 62.9% | ||
| Q1 24 | -29.4% | 43.0% |
| Q4 25 | $-0.11 | $0.01 | ||
| Q3 25 | $-0.18 | $0.23 | ||
| Q2 25 | $-0.12 | $0.21 | ||
| Q1 25 | $-0.21 | $0.12 | ||
| Q4 24 | $-0.11 | $0.09 | ||
| Q3 24 | $-0.31 | $0.23 | ||
| Q2 24 | $-0.57 | $0.26 | ||
| Q1 24 | $-0.59 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.5M | $87.6M |
| Total DebtLower is stronger | $185.1M | $3.3B |
| Stockholders' EquityBook value | $-18.2M | $1.1B |
| Total Assets | $434.9M | $4.4B |
| Debt / EquityLower = less leverage | — | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.5M | $87.6M | ||
| Q3 25 | $8.1M | $93.6M | ||
| Q2 25 | $9.1M | $165.8M | ||
| Q1 25 | $5.9M | $363.0M | ||
| Q4 24 | $12.4M | $190.2M | ||
| Q3 24 | $10.1M | $226.3M | ||
| Q2 24 | $9.3M | $259.2M | ||
| Q1 24 | $7.5M | $203.1M |
| Q4 25 | $185.1M | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $202.7M | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $-18.2M | $1.1B | ||
| Q3 25 | $-12.1M | $1.1B | ||
| Q2 25 | $-7.7M | $1.1B | ||
| Q1 25 | $-8.1M | $1.1B | ||
| Q4 24 | $-4.4M | $1.1B | ||
| Q3 24 | $1.6M | $1.1B | ||
| Q2 24 | $6.5M | $1.1B | ||
| Q1 24 | $18.0M | $1.1B |
| Q4 25 | $434.9M | $4.4B | ||
| Q3 25 | $435.2M | $4.1B | ||
| Q2 25 | $438.1M | $4.2B | ||
| Q1 25 | $441.0M | $4.0B | ||
| Q4 24 | $471.0M | $3.7B | ||
| Q3 24 | $495.7M | $3.7B | ||
| Q2 24 | $494.9M | $3.7B | ||
| Q1 24 | $494.9M | $3.8B |
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 2.78× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× | ||
| Q1 24 | — | 2.38× |
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 | $4.3M | $90.4M |
| Free Cash FlowOCF − Capex | $4.1M | — |
| FCF MarginFCF / Revenue | 8.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $90.4M | ||
| Q3 25 | $295.0K | $21.8M | ||
| Q2 25 | $1.6M | $24.7M | ||
| Q1 25 | $-7.7M | $19.1M | ||
| Q4 24 | $8.0M | $112.1M | ||
| Q3 24 | $1.3M | $23.7M | ||
| Q2 24 | $-10.4M | $25.6M | ||
| Q1 24 | $-2.8M | $37.4M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $-246.0K | — | ||
| Q2 25 | $1.2M | — | ||
| Q1 25 | $-8.0M | — | ||
| Q4 24 | $7.0M | — | ||
| Q3 24 | $-1.1M | — | ||
| Q2 24 | $-10.6M | — | ||
| Q1 24 | $-4.7M | — |
| Q4 25 | 8.2% | — | ||
| Q3 25 | -0.5% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -19.8% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | -1.8% | — | ||
| Q2 24 | -22.7% | — | ||
| Q1 24 | -10.4% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 4.3% | — |
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 2.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
TRTX
Segment breakdown not available.
