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Side-by-side financial comparison of Seritage Growth Properties (SRG) and Token Cat Ltd (TC). Click either name above to swap in a different company.
Seritage Growth Properties is the larger business by last-quarter revenue ($4.2M vs $2.8M, roughly 1.5× Token Cat Ltd). On growth, Seritage Growth Properties posted the faster year-over-year revenue change (-4.9% vs -37.9%).
Seritage Growth Properties is a U.S.-headquartered publicly traded real estate investment trust. It owns, redevelops, and manages a diversified portfolio of retail, residential, and mixed-use commercial properties across key U.S. markets, leasing spaces to retail, dining, and service sector tenants.
SRG vs TC — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.2M | $2.8M |
| Net Profit | — | $-93.0K |
| Gross Margin | — | 79.0% |
| Operating Margin | — | -206.9% |
| Net Margin | — | -3.4% |
| Revenue YoY | -4.9% | -37.9% |
| Net Profit YoY | 55.2% | 98.3% |
| EPS (diluted) | — | — |
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 | $4.2M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.7M | $2.8M | ||
| Q1 25 | $4.6M | — | ||
| Q4 24 | $4.4M | — | ||
| Q3 24 | $3.3M | — | ||
| Q2 24 | $4.2M | $4.4M | ||
| Q1 24 | $5.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-12.4M | — | ||
| Q2 25 | $-28.5M | $-93.0K | ||
| Q1 25 | $-22.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-22.0M | — | ||
| Q2 24 | $-101.2M | $-5.6M | ||
| Q1 24 | $-19.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 79.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 69.2% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -258.0% | — | ||
| Q2 25 | -610.2% | -206.9% | ||
| Q1 25 | -486.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -673.2% | — | ||
| Q2 24 | -2366.1% | -146.9% | ||
| Q1 24 | -328.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | -259.6% | — | ||
| Q2 25 | -612.6% | -3.4% | ||
| Q1 25 | -482.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -675.9% | — | ||
| Q2 24 | -2401.0% | -125.9% | ||
| Q1 24 | -328.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | $-0.24 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.42 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.41 | — | ||
| Q2 24 | $-1.82 | — | ||
| Q1 24 | $-0.36 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $48.1M | $150.0K |
| Total DebtLower is stronger | — | $1.4M |
| Stockholders' EquityBook value | $331.4M | $4.6M |
| Total Assets | $393.8M | $28.4M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.1M | — | ||
| Q3 25 | $51.5M | — | ||
| Q2 25 | $71.8M | $150.0K | ||
| Q1 25 | $94.3M | — | ||
| Q4 24 | $85.2M | — | ||
| Q3 24 | $85.6M | — | ||
| Q2 24 | $86.7M | $689.0K | ||
| Q1 24 | $114.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | — |
| Q4 25 | $331.4M | — | ||
| Q3 25 | $337.7M | — | ||
| Q2 25 | $351.4M | $4.6M | ||
| Q1 25 | $381.1M | — | ||
| Q4 24 | $404.5M | — | ||
| Q3 24 | $417.5M | — | ||
| Q2 24 | $440.4M | $-787.0K | ||
| Q1 24 | $542.4M | — |
| Q4 25 | $393.8M | — | ||
| Q3 25 | $558.6M | — | ||
| Q2 25 | $575.7M | $28.4M | ||
| Q1 25 | $649.7M | — | ||
| Q4 24 | $677.8M | — | ||
| Q3 24 | $735.0M | — | ||
| Q2 24 | $758.3M | $12.5M | ||
| Q1 24 | $914.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-34.9M | $-23.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.9M | — | ||
| Q3 25 | $-12.5M | — | ||
| Q2 25 | $-12.0M | $-23.7M | ||
| Q1 25 | $-9.2M | — | ||
| Q4 24 | $-53.5M | — | ||
| Q3 24 | $-15.5M | — | ||
| Q2 24 | $-7.5M | $-1.5M | ||
| Q1 24 | $-16.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -34.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
