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TheRealReal vs Suburban Propane Partners: revenue, profit, margins and growth compared

TheRealReal brought in $692.8M of revenue in fiscal 2025, Suburban Propane Partners $1.4B in fiscal 2025. Revenue changed by +15.4% at TheRealReal and +7.9% at Suburban Propane Partners on the year before, so TheRealReal grew faster. TheRealReal kept -6.0% of its revenue as net profit, Suburban Propane Partners 7.4%. Free cash flow was $18.4M at TheRealReal and $114.3M at Suburban Propane Partners.

Side by side, latest fiscal year

REALSPH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 27, 2025)
Revenue$692.8M$1.4B
Revenue growth+15.4%+7.9%
Net income-$41.8M$106.6M
Net margin-6.0%7.4%
Free cash flow$18.4M$114.3M
Free cash flow margin2.7%8.0%
Earnings per share (diluted)-$0.70$1.62
Cash$151.2M$405K
Debtn/a$1.2B
Price to earningsn/a10.3
Market value$1.1B$1.1B
Dividend yieldn/an/a
Rank by revenue in sector#519 of 778 · Consumer discretionary#406 of 778 · Consumer discretionary

Over the years

Revenue
REAL FY2019: $213.7MREAL FY2019: $316.4MREAL FY2020: $299.9MREAL FY2021: $467.7MREAL FY2022: $603.5MREAL FY2023: $549.3MREAL FY2024: $600.5MREAL FY2025: $692.8MSPH FY2018: $1.3BSPH FY2019: $1.3BSPH FY2020: $1.1BSPH FY2021: $1.3BSPH FY2022: $1.5BSPH FY2023: $1.4BSPH FY2024: $1.3BSPH FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
REAL $692.8MSPH $1.4B
Net income
REAL FY2019: -$75.8MREAL FY2019: -$98.4MREAL FY2020: -$175.8MREAL FY2021: -$236.1MREAL FY2022: -$196.4MREAL FY2023: -$168.5MREAL FY2024: -$134.2MREAL FY2025: -$41.8MSPH FY2018: $76.5MSPH FY2019: $68.6MSPH FY2020: $60.8MSPH FY2021: $122.8MSPH FY2022: $139.7MSPH FY2023: $123.8MSPH FY2024: $74.2MSPH FY2025: $106.6MFY18FY19FY20FY21FY22FY23FY24FY25
REAL -$41.8MSPH $106.6M
Net margin
REAL FY2019: -35.4%REAL FY2019: -31.1%REAL FY2020: -58.6%REAL FY2021: -50.5%REAL FY2022: -32.6%REAL FY2023: -30.7%REAL FY2024: -22.3%REAL FY2025: -6.0%SPH FY2018: 5.7%SPH FY2019: 5.4%SPH FY2020: 5.5%SPH FY2021: 9.5%SPH FY2022: 9.3%SPH FY2023: 8.7%SPH FY2024: 5.6%SPH FY2025: 7.4%FY18FY19FY20FY21FY22FY23FY24FY25
REAL -6.0%SPH 7.4%
Revenue growth
REAL FY2019: +48.0%REAL FY2020: -5.2%REAL FY2021: +55.9%REAL FY2022: +29.0%REAL FY2023: -9.0%REAL FY2024: +9.3%REAL FY2025: +15.4%SPH FY2019: -5.7%SPH FY2020: -12.6%SPH FY2021: +16.3%SPH FY2022: +16.5%SPH FY2023: -4.8%SPH FY2024: -7.1%SPH FY2025: +7.9%FY19FY20FY21FY22FY23FY24FY25
REAL +15.4%SPH +7.9%
Free cash flow
REAL FY2019: -$60.6MREAL FY2019: -$79.3MREAL FY2020: -$152.7MREAL FY2021: -$179.6MREAL FY2022: -$114.4MREAL FY2023: -$90.4MREAL FY2024: $12.6MREAL FY2025: $18.4MSPH FY2018: $177.5MSPH FY2019: $191.8MSPH FY2020: $176.9MSPH FY2021: $196.7MSPH FY2022: $176.2MSPH FY2023: $180.3MSPH FY2024: $101.2MSPH FY2025: $114.3MFY18FY19FY20FY21FY22FY23FY24FY25
REAL $18.4MSPH $114.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about TheRealReal and Suburban Propane Partners

Which is bigger by revenue, TheRealReal or Suburban Propane Partners?

Suburban Propane Partners is bigger by revenue: $1.4B in fiscal 2025, against $692.8M for TheRealReal in fiscal 2025.

Which keeps more of its revenue as profit, TheRealReal or Suburban Propane Partners?

TheRealReal had a net margin of -6.0% in fiscal 2025; Suburban Propane Partners had 7.4% in fiscal 2025.

Which grew revenue faster, TheRealReal or Suburban Propane Partners?

In their latest fiscal years revenue changed by +15.4% at TheRealReal and +7.9% at Suburban Propane Partners.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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