How do Safehold Inc. and XPEL, Inc. compare by revenue?

Safehold Inc. reported revenue of $97.9M in Q4 FY2025, while XPEL, Inc. reported $122.3M in Q4 FY2025. XPEL, Inc. is 1.2× larger by last-quarter revenue.

Which is growing revenue faster, Safehold Inc. or XPEL, Inc.?

Safehold Inc.'s latest revenue grew 6.5% year-over-year, versus 13.7% for XPEL, Inc.. XPEL, Inc. is growing faster on a YoY basis.

Which has a higher gross margin, Safehold Inc. or XPEL, Inc.?

Safehold Inc.'s gross margin is 98.6% vs XPEL, Inc.'s 41.9%. Safehold Inc. converts more of each revenue dollar into gross profit.

Which has a higher net margin, Safehold Inc. or XPEL, Inc.?

Safehold Inc.'s net margin is 28.5% vs XPEL, Inc.'s 11.0%. Safehold Inc. has the higher bottom-line margin.

What is the 2-year revenue CAGR for Safehold Inc. vs XPEL, Inc.?

Over the trailing 8 quarters, Safehold Inc. compounded revenue at roughly 2.5% per year, versus 16.5% for XPEL, Inc.. XPEL, Inc. has the faster medium-term growth trajectory.

Where does this SAFE vs XPEL data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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

XPEL, Inc. is the larger business by last-quarter revenue ($122.3M vs $97.9M, roughly 1.2× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 11.0%, a 17.5% gap on every dollar of revenue. On growth, XPEL, Inc. posted the faster year-over-year revenue change (13.7% vs 6.5%). Over the past eight quarters, XPEL, Inc.'s revenue compounded faster (16.5% CAGR vs 2.5%).

Safehold Inc.SAFEEarnings & Financial Report

NYSE · Financials · Real Estate Investment Trusts

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

XPEL, Inc.XPELEarnings & Financial Report

Nasdaq · Industrials · Coating, Engraving & Allied Services

XPEL, Inc. is a global provider of high-performance surface protection solutions primarily for automotive use. Core offerings include paint protection films, window tints, and ceramic coatings, serving vehicle owners, dealerships, and professional installers across North America, Europe, and Asia Pacific.

SAFE vs XPEL — Head-to-Head

Bigger by revenue

XPEL

1.2× larger

$122.3M

$97.9M

Growing faster (revenue YoY)

XPEL

+7.2% gap

13.7%

6.5%

Higher net margin

SAFE

17.5% more per $

28.5%

11.0%

Faster 2-yr revenue CAGR

XPEL

Annualised

16.5%

2.5%

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric	SAFE	XPEL
Revenue	$97.9M	$122.3M
Net Profit	$27.9M	$13.4M
Gross Margin	98.6%	41.9%
Operating Margin	27.4%	12.7%
Net Margin	28.5%	11.0%
Revenue YoY	6.5%	13.7%
Net Profit YoY	7.1%	50.7%
EPS (diluted)	$0.38	$0.48

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

XPEL

Q4 25	$97.9M	$122.3M
Q3 25	$96.2M	$125.4M
Q2 25	$93.8M	$124.7M
Q1 25	$97.7M	$103.8M
Q4 24	$91.9M	$107.5M
Q3 24	$90.7M	$112.9M
Q2 24	$89.9M	$109.9M
Q1 24	$93.2M	$90.1M

Net Profit

SAFE

XPEL

Q4 25	$27.9M	$13.4M
Q3 25	$29.3M	$12.9M
Q2 25	$27.9M	$16.3M
Q1 25	$29.4M	$8.6M
Q4 24	$26.0M	$8.9M
Q3 24	$19.3M	$14.9M
Q2 24	$29.7M	$15.0M
Q1 24	$30.7M	$6.7M

Gross Margin

SAFE

XPEL

Q4 25	98.6%	41.9%
Q3 25	98.5%	41.8%
Q2 25	99.1%	42.9%
Q1 25	98.8%	42.3%
Q4 24	98.8%	40.6%
Q3 24	98.8%	42.5%
Q2 24	98.8%	43.5%
Q1 24	98.8%	42.0%

Operating Margin

SAFE

XPEL

Q4 25	27.4%	12.7%
Q3 25	25.9%	13.4%
Q2 25	25.5%	15.5%
Q1 25	25.9%	10.7%
Q4 24	24.6%	11.5%
Q3 24	17.5%	16.3%
Q2 24	26.7%	17.5%
Q1 24	26.4%	10.2%

Net Margin

SAFE

XPEL

Q4 25	28.5%	11.0%
Q3 25	30.5%	10.3%
Q2 25	29.8%	13.1%
Q1 25	30.1%	8.3%
Q4 24	28.3%	8.3%
Q3 24	21.3%	13.2%
Q2 24	33.0%	13.7%
Q1 24	33.0%	7.4%

EPS (diluted)

SAFE

XPEL

Q4 25	$0.38	$0.48
Q3 25	$0.41	$0.47
Q2 25	$0.39	$0.59
Q1 25	$0.41	$0.31
Q4 24	$0.36	$0.33
Q3 24	$0.27	$0.54
Q2 24	$0.42	$0.54
Q1 24	$0.43	$0.24

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	SAFE	XPEL
Cash + ST InvestmentsLiquidity on hand	$21.7M	$50.9M
Total DebtLower is stronger	$4.6B	—
Stockholders' EquityBook value	$2.4B	$280.3M
Total Assets	$7.2B	$382.5M
Debt / EquityLower = less leverage	1.90×	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

SAFE

XPEL

Q4 25	$21.7M	$50.9M
Q3 25	$12.1M	$64.5M
Q2 25	$13.9M	$49.6M
Q1 25	$17.3M	$23.5M
Q4 24	$8.3M	$22.1M
Q3 24	$15.6M	$21.0M
Q2 24	$13.4M	$15.0M
Q1 24	$11.3M	$8.6M

Total Debt

SAFE

XPEL

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

XPEL

Q4 25	$2.4B	$280.3M
Q3 25	$2.4B	$269.3M
Q2 25	$2.4B	$255.7M
Q1 25	$2.4B	$235.5M
Q4 24	$2.3B	$225.5M
Q3 24	$2.3B	$218.7M
Q2 24	$2.3B	$201.9M
Q1 24	$2.3B	$186.4M

Total Assets

SAFE

XPEL

Q4 25	$7.2B	$382.5M
Q3 25	$7.1B	$387.7M
Q2 25	$7.1B	$318.1M
Q1 25	$6.9B	$294.8M
Q4 24	$6.9B	$285.6M
Q3 24	$6.8B	$273.0M
Q2 24	$6.8B	$261.8M
Q1 24	$6.7B	$258.5M

Debt / Equity

SAFE

XPEL

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	XPEL
Operating Cash FlowLast quarter	$47.8M	$2.7M
Free Cash FlowOCF − Capex	—	$1.6M
FCF MarginFCF / Revenue	—	1.3%
Capex IntensityCapex / Revenue	—	0.9%
Cash ConversionOCF / Net Profit	1.72×	0.20×
TTM Free Cash FlowTrailing 4 quarters	—	$62.9M