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Side-by-side financial comparison of STAG Industrial, Inc. (STAG) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $224.2M, roughly 1.7× STAG Industrial, Inc.). STAG Industrial, Inc. runs the higher net margin — 27.6% vs -1.9%, a 29.6% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 9.1%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 8.7%).
Stag Arms is a firearms manufacturer founded in May 2003 and located in Cheyenne, Wyoming. Stag Arms is a manufacturer of the AR-15 type rifle, marketed as Stag-15 rifles. Stag advertises that all their weapons and accessories are made in the United States. They are best known for their left-handed AR-15 rifles, which use a mirror imaged upper receiver and have the ejection port reversed for left-handed shooters and the safety selector control on the right side of the lower receiver.
Innovate Corp. is an American public financial services company founded in 1994.
STAG vs VATE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $224.2M | $382.7M |
| Net Profit | $62.0M | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | — | 3.7% |
| Net Margin | 27.6% | -1.9% |
| Revenue YoY | 9.1% | 61.7% |
| Net Profit YoY | -32.2% | 55.4% |
| EPS (diluted) | $0.32 | $-0.57 |
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.
| Q1 26 | $224.2M | — | ||
| Q4 25 | $220.9M | $382.7M | ||
| Q3 25 | $211.1M | $347.1M | ||
| Q2 25 | $207.6M | $242.0M | ||
| Q1 25 | $205.6M | $274.2M | ||
| Q4 24 | $199.3M | $236.6M | ||
| Q3 24 | $190.7M | $242.2M | ||
| Q2 24 | $189.8M | $313.1M |
| Q1 26 | $62.0M | — | ||
| Q4 25 | $83.5M | $-7.4M | ||
| Q3 25 | $48.6M | $-8.9M | ||
| Q2 25 | $50.0M | $-19.8M | ||
| Q1 25 | $91.4M | $-24.5M | ||
| Q4 24 | $51.0M | $-16.6M | ||
| Q3 24 | $41.9M | $-15.0M | ||
| Q2 24 | $59.8M | $14.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 9.2% |
| Q1 26 | 27.6% | — | ||
| Q4 25 | 37.8% | -1.9% | ||
| Q3 25 | 23.0% | -2.6% | ||
| Q2 25 | 24.1% | -8.2% | ||
| Q1 25 | 44.5% | -8.9% | ||
| Q4 24 | 25.6% | -7.0% | ||
| Q3 24 | 21.9% | -6.2% | ||
| Q2 24 | 31.5% | 4.6% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | — | $-0.57 | ||
| Q3 25 | — | $-0.71 | ||
| Q2 25 | — | $-1.67 | ||
| Q1 25 | — | $-1.89 | ||
| Q4 24 | — | $-0.72 | ||
| Q3 24 | — | $-1.18 | ||
| Q2 24 | — | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.9M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $3.6B | $-240.1M |
| Total Assets | $7.2B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $8.9M | — | ||
| Q4 25 | $14.9M | $112.1M | ||
| Q3 25 | $17.3M | $35.5M | ||
| Q2 25 | $15.4M | $33.4M | ||
| Q1 25 | $9.3M | $33.3M | ||
| Q4 24 | $36.3M | $48.8M | ||
| Q3 24 | $70.0M | $51.0M | ||
| Q2 24 | $33.3M | $80.2M |
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $80.3M | ||
| Q3 25 | $3.1B | $97.3M | ||
| Q2 25 | $3.0B | $160.1M | ||
| Q1 25 | $3.0B | $139.9M | ||
| Q4 24 | $3.0B | $500.6M | ||
| Q3 24 | $2.9B | $502.4M | ||
| Q2 24 | $2.8B | $638.3M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $-240.1M | ||
| Q3 25 | $3.4B | $-233.3M | ||
| Q2 25 | $3.4B | $-224.8M | ||
| Q1 25 | $3.5B | $-204.2M | ||
| Q4 24 | $3.5B | $-180.4M | ||
| Q3 24 | $3.3B | $-163.1M | ||
| Q2 24 | $3.3B | $-149.0M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $7.2B | $950.1M | ||
| Q3 25 | $6.9B | $913.2M | ||
| Q2 25 | $6.8B | $890.9M | ||
| Q1 25 | $6.8B | $868.0M | ||
| Q4 24 | $6.8B | $891.1M | ||
| Q3 24 | $6.6B | $897.2M | ||
| Q2 24 | $6.4B | $898.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.91× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 0.89× | — | ||
| Q2 24 | 0.84× | — |
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 | — | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 3.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.5M | $101.1M | ||
| Q3 25 | $143.5M | $19.2M | ||
| Q2 25 | $111.9M | $40.4M | ||
| Q1 25 | $103.5M | $-14.1M | ||
| Q4 24 | $104.9M | $41.4M | ||
| Q3 24 | $128.0M | $-28.4M | ||
| Q2 24 | $122.2M | $21.5M |
| Q1 26 | — | — | ||
| Q4 25 | $43.8M | — | ||
| Q3 25 | $95.5M | $19.0M | ||
| Q2 25 | $62.3M | — | ||
| Q1 25 | $57.2M | $-18.8M | ||
| Q4 24 | $37.6M | $34.2M | ||
| Q3 24 | $86.7M | $-31.5M | ||
| Q2 24 | $105.0M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | — | ||
| Q3 25 | 45.2% | 5.5% | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 27.8% | -6.9% | ||
| Q4 24 | 18.8% | 14.5% | ||
| Q3 24 | 45.5% | -13.0% | ||
| Q2 24 | 55.3% | 5.9% |
| Q1 26 | 3.9% | — | ||
| Q4 25 | 27.4% | — | ||
| Q3 25 | 22.7% | 0.1% | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 22.5% | 1.7% | ||
| Q4 24 | 33.8% | 3.0% | ||
| Q3 24 | 21.6% | 1.3% | ||
| Q2 24 | 9.1% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 2.24× | — | ||
| Q1 25 | 1.13× | — | ||
| Q4 24 | 2.06× | — | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | 2.04× | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STAG
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
