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Side-by-side financial comparison of Service Properties Trust (SVC) 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 $296.5M, roughly 1.3× Service Properties Trust). Service Properties Trust runs the higher net margin — -0.3% vs -1.9%, a 1.7% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -17.0%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs -6.1%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
Innovate Corp. is an American public financial services company founded in 1994.
SVC vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $296.5M | $382.7M |
| Net Profit | $-782.0K | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | -3.9% | 3.7% |
| Net Margin | -0.3% | -1.9% |
| Revenue YoY | -17.0% | 61.7% |
| Net Profit YoY | 99.0% | 55.4% |
| EPS (diluted) | $-0.01 | $-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.
| Q4 25 | $296.5M | $382.7M | ||
| Q3 25 | $377.6M | $347.1M | ||
| Q2 25 | $404.4M | $242.0M | ||
| Q1 25 | $335.0M | $274.2M | ||
| Q4 24 | $357.0M | $236.6M | ||
| Q3 24 | $390.9M | $242.2M | ||
| Q2 24 | $412.5M | $313.1M | ||
| Q1 24 | $336.2M | $315.2M |
| Q4 25 | $-782.0K | $-7.4M | ||
| Q3 25 | $-46.9M | $-8.9M | ||
| Q2 25 | $-38.2M | $-19.8M | ||
| Q1 25 | $-116.4M | $-24.5M | ||
| Q4 24 | $-76.4M | $-16.6M | ||
| Q3 24 | $-46.9M | $-15.0M | ||
| Q2 24 | $-73.8M | $14.4M | ||
| Q1 24 | $-78.4M | $-17.4M |
| 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 24 | — | 15.4% |
| Q4 25 | -3.9% | 3.7% | ||
| Q3 25 | -12.8% | 1.8% | ||
| Q2 25 | -9.2% | 2.0% | ||
| Q1 25 | -33.3% | 1.2% | ||
| Q4 24 | -19.4% | 1.1% | ||
| Q3 24 | -12.8% | 2.4% | ||
| Q2 24 | -17.1% | 9.2% | ||
| Q1 24 | -21.4% | 0.9% |
| Q4 25 | -0.3% | -1.9% | ||
| Q3 25 | -12.4% | -2.6% | ||
| Q2 25 | -9.4% | -8.2% | ||
| Q1 25 | -34.8% | -8.9% | ||
| Q4 24 | -21.4% | -7.0% | ||
| Q3 24 | -12.0% | -6.2% | ||
| Q2 24 | -17.9% | 4.6% | ||
| Q1 24 | -23.3% | -5.5% |
| Q4 25 | $-0.01 | $-0.57 | ||
| Q3 25 | $-0.28 | $-0.71 | ||
| Q2 25 | $-0.23 | $-1.67 | ||
| Q1 25 | $-0.70 | $-1.89 | ||
| Q4 24 | $-0.46 | $-0.72 | ||
| Q3 24 | $-0.28 | $-1.18 | ||
| Q2 24 | $-0.45 | $1.03 | ||
| Q1 24 | $-0.48 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $346.8M | $112.1M |
| Total DebtLower is stronger | $5.5B | $80.3M |
| Stockholders' EquityBook value | $646.1M | $-240.1M |
| Total Assets | $6.5B | $950.1M |
| Debt / EquityLower = less leverage | 8.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $346.8M | $112.1M | ||
| Q3 25 | $417.4M | $35.5M | ||
| Q2 25 | $63.2M | $33.4M | ||
| Q1 25 | $80.1M | $33.3M | ||
| Q4 24 | $143.5M | $48.8M | ||
| Q3 24 | $48.6M | $51.0M | ||
| Q2 24 | $14.6M | $80.2M | ||
| Q1 24 | $71.3M | $38.4M |
| Q4 25 | $5.5B | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $5.8B | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $646.1M | $-240.1M | ||
| Q3 25 | $647.9M | $-233.3M | ||
| Q2 25 | $695.9M | $-224.8M | ||
| Q1 25 | $734.6M | $-204.2M | ||
| Q4 24 | $851.9M | $-180.4M | ||
| Q3 24 | $929.0M | $-163.1M | ||
| Q2 24 | $1.0B | $-149.0M | ||
| Q1 24 | $1.1B | $-184.4M |
| Q4 25 | $6.5B | $950.1M | ||
| Q3 25 | $7.0B | $913.2M | ||
| Q2 25 | $6.9B | $890.9M | ||
| Q1 25 | $7.0B | $868.0M | ||
| Q4 24 | $7.1B | $891.1M | ||
| Q3 24 | $7.1B | $897.2M | ||
| Q2 24 | $7.1B | $898.9M | ||
| Q1 24 | $7.2B | $943.5M |
| Q4 25 | 8.52× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.85× | — | ||
| 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 | $-18.5M | $101.1M |
| Free Cash FlowOCF − Capex | $-95.2M | — |
| FCF MarginFCF / Revenue | -32.1% | — |
| Capex IntensityCapex / Revenue | 25.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-107.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.5M | $101.1M | ||
| Q3 25 | $98.1M | $19.2M | ||
| Q2 25 | $-7.0K | $40.4M | ||
| Q1 25 | $38.2M | $-14.1M | ||
| Q4 24 | $-9.7M | $41.4M | ||
| Q3 24 | $106.2M | $-28.4M | ||
| Q2 24 | $43.8M | $21.5M | ||
| Q1 24 | $-926.0K | $-25.4M |
| Q4 25 | $-95.2M | — | ||
| Q3 25 | $57.9M | $19.0M | ||
| Q2 25 | $-46.6M | — | ||
| Q1 25 | $-23.2M | $-18.8M | ||
| Q4 24 | $-88.9M | $34.2M | ||
| Q3 24 | $24.1M | $-31.5M | ||
| Q2 24 | $-22.3M | $18.4M | ||
| Q1 24 | $-77.2M | $-31.0M |
| Q4 25 | -32.1% | — | ||
| Q3 25 | 15.3% | 5.5% | ||
| Q2 25 | -11.5% | — | ||
| Q1 25 | -6.9% | -6.9% | ||
| Q4 24 | -24.9% | 14.5% | ||
| Q3 24 | 6.2% | -13.0% | ||
| Q2 24 | -5.4% | 5.9% | ||
| Q1 24 | -23.0% | -9.8% |
| Q4 25 | 25.9% | — | ||
| Q3 25 | 10.6% | 0.1% | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 18.3% | 1.7% | ||
| Q4 24 | 22.2% | 3.0% | ||
| Q3 24 | 21.0% | 1.3% | ||
| Q2 24 | 16.0% | 1.0% | ||
| Q1 24 | 22.7% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SVC
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% |
