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Side-by-side financial comparison of Safehold Inc. (SAFE) and Stoke Therapeutics, Inc. (STOK). Click either name above to swap in a different company.

Stoke Therapeutics, Inc. is the larger business by last-quarter revenue ($158.6M vs $97.9M, roughly 1.6× Safehold Inc.). Stoke Therapeutics, Inc. runs the higher net margin — 71.2% vs 28.5%, a 42.7% gap on every dollar of revenue. On growth, Stoke Therapeutics, Inc. posted the faster year-over-year revenue change (3661.1% vs 6.5%).

SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.

Stoke Therapeutics, Inc. is a clinical-stage biotechnology company developing innovative RNA-targeted therapies for severe rare genetic diseases. Its lead candidates address unmet needs for Dravet syndrome, a rare epilepsy, and other neurological monogenic disorders, serving patients across North America and global markets.

SAFE vs STOK — Head-to-Head

Bigger by revenue
STOK
STOK
1.6× larger
STOK
$158.6M
$97.9M
SAFE
Growing faster (revenue YoY)
STOK
STOK
+3654.6% gap
STOK
3661.1%
6.5%
SAFE
Higher net margin
STOK
STOK
42.7% more per $
STOK
71.2%
28.5%
SAFE

Income Statement — Q4 FY2025 vs Q1 FY2025

Metric
SAFE
SAFE
STOK
STOK
Revenue
$97.9M
$158.6M
Net Profit
$27.9M
$112.9M
Gross Margin
98.6%
Operating Margin
27.4%
70.2%
Net Margin
28.5%
71.2%
Revenue YoY
6.5%
3661.1%
Net Profit YoY
7.1%
528.0%
EPS (diluted)
$0.38
$1.90

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.

Revenue
SAFE
SAFE
STOK
STOK
Q4 25
$97.9M
Q3 25
$96.2M
Q2 25
$93.8M
Q1 25
$97.7M
$158.6M
Q4 24
$91.9M
$22.6M
Q3 24
$90.7M
Q2 24
$89.9M
Q1 24
$93.2M
Net Profit
SAFE
SAFE
STOK
STOK
Q4 25
$27.9M
Q3 25
$29.3M
Q2 25
$27.9M
Q1 25
$29.4M
$112.9M
Q4 24
$26.0M
$-10.5M
Q3 24
$19.3M
Q2 24
$29.7M
Q1 24
$30.7M
Gross Margin
SAFE
SAFE
STOK
STOK
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%
Operating Margin
SAFE
SAFE
STOK
STOK
Q4 25
27.4%
Q3 25
25.9%
Q2 25
25.5%
Q1 25
25.9%
70.2%
Q4 24
24.6%
-60.4%
Q3 24
17.5%
Q2 24
26.7%
Q1 24
26.4%
Net Margin
SAFE
SAFE
STOK
STOK
Q4 25
28.5%
Q3 25
30.5%
Q2 25
29.8%
Q1 25
30.1%
71.2%
Q4 24
28.3%
-46.4%
Q3 24
21.3%
Q2 24
33.0%
Q1 24
33.0%
EPS (diluted)
SAFE
SAFE
STOK
STOK
Q4 25
$0.38
Q3 25
$0.41
Q2 25
$0.39
Q1 25
$0.41
$1.90
Q4 24
$0.36
$-0.15
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
SAFE
SAFE
STOK
STOK
Cash + ST InvestmentsLiquidity on hand
$21.7M
$274.8M
Total DebtLower is stronger
$4.6B
Stockholders' EquityBook value
$2.4B
$350.1M
Total Assets
$7.2B
$406.9M
Debt / EquityLower = less leverage
1.90×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SAFE
SAFE
STOK
STOK
Q4 25
$21.7M
Q3 25
$12.1M
Q2 25
$13.9M
Q1 25
$17.3M
$274.8M
Q4 24
$8.3M
$128.0M
Q3 24
$15.6M
Q2 24
$13.4M
Q1 24
$11.3M
Total Debt
SAFE
SAFE
STOK
STOK
Q4 25
$4.6B
Q3 25
$4.5B
Q2 25
$4.4B
Q1 25
$4.3B
Q4 24
$4.3B
Q3 24
$4.3B
Q2 24
$4.2B
Q1 24
$4.1B
Stockholders' Equity
SAFE
SAFE
STOK
STOK
Q4 25
$2.4B
Q3 25
$2.4B
Q2 25
$2.4B
Q1 25
$2.4B
$350.1M
Q4 24
$2.3B
$229.0M
Q3 24
$2.3B
Q2 24
$2.3B
Q1 24
$2.3B
Total Assets
SAFE
SAFE
STOK
STOK
Q4 25
$7.2B
Q3 25
$7.1B
Q2 25
$7.1B
Q1 25
$6.9B
$406.9M
Q4 24
$6.9B
$271.6M
Q3 24
$6.8B
Q2 24
$6.8B
Q1 24
$6.7B
Debt / Equity
SAFE
SAFE
STOK
STOK
Q4 25
1.90×
Q3 25
1.89×
Q2 25
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
SAFE
SAFE
STOK
STOK
Operating Cash FlowLast quarter
$47.8M
$131.8M
Free Cash FlowOCF − Capex
$131.7M
FCF MarginFCF / Revenue
83.0%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
1.72×
1.17×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SAFE
SAFE
STOK
STOK
Q4 25
$47.8M
Q3 25
$-1.4M
Q2 25
$28.0M
Q1 25
$8.9M
$131.8M
Q4 24
$37.9M
$-23.2M
Q3 24
$8.3M
Q2 24
$24.8M
Q1 24
$-3.1M
Free Cash Flow
SAFE
SAFE
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
$131.7M
Q4 24
$-23.2M
Q3 24
Q2 24
Q1 24
FCF Margin
SAFE
SAFE
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
83.0%
Q4 24
-102.7%
Q3 24
Q2 24
Q1 24
Capex Intensity
SAFE
SAFE
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
0.1%
Q4 24
0.2%
Q3 24
Q2 24
Q1 24
Cash Conversion
SAFE
SAFE
STOK
STOK
Q4 25
1.72×
Q3 25
-0.05×
Q2 25
1.00×
Q1 25
0.30×
1.17×
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

SAFE
SAFE

Equity Method Investment Nonconsolidated Investee Or Group Of Investees$60.3M62%
Other$33.7M34%
Stabilized Properties$3.8M4%

STOK
STOK

Segment breakdown not available.

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