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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and FENNEC PHARMACEUTICALS INC. (FENC). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $13.2M, roughly 1.0× Ares Commercial Real Estate Corp). Ares Commercial Real Estate Corp runs the higher net margin — -29.2% vs -34.7%, a 5.5% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -24.5%). Over the past eight quarters, Ares Commercial Real Estate Corp's revenue compounded faster (-15.9% CAGR vs -26.3%).
Ares Commercial Real Estate Corp is a specialty finance company focused on the commercial real estate sector. It offers a full suite of customized financing solutions including senior mortgage loans, subordinated debt and preferred equity, primarily serving middle-market commercial property owners and operators across the United States.
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
ACRE vs FENC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $13.8M |
| Net Profit | $-3.9M | $-4.8M |
| Gross Margin | — | — |
| Operating Margin | -29.2% | -18.5% |
| Net Margin | -29.2% | -34.7% |
| Revenue YoY | -24.5% | 73.8% |
| Net Profit YoY | 63.8% | -141.1% |
| EPS (diluted) | — | $-0.17 |
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 | $13.2M | $13.8M | ||
| Q3 25 | $14.1M | $12.5M | ||
| Q2 25 | $12.6M | $9.7M | ||
| Q1 25 | $14.9M | $8.8M | ||
| Q4 24 | $17.5M | $7.9M | ||
| Q3 24 | $16.7M | $7.0M | ||
| Q2 24 | $16.8M | $7.3M | ||
| Q1 24 | $18.7M | $25.4M |
| Q4 25 | $-3.9M | $-4.8M | ||
| Q3 25 | $4.7M | $-638.0K | ||
| Q2 25 | $-11.0M | $-3.2M | ||
| Q1 25 | $9.3M | $-1.2M | ||
| Q4 24 | $-10.7M | $-2.0M | ||
| Q3 24 | $-5.9M | $-5.7M | ||
| Q2 24 | $-6.1M | $-5.6M | ||
| Q1 24 | $-12.3M | $12.8M |
| Q4 25 | -29.2% | -18.5% | ||
| Q3 25 | 33.0% | -1.5% | ||
| Q2 25 | -87.8% | -28.3% | ||
| Q1 25 | 64.4% | -9.2% | ||
| Q4 24 | -61.0% | -11.8% | ||
| Q3 24 | -35.3% | -74.6% | ||
| Q2 24 | -36.5% | -69.4% | ||
| Q1 24 | -65.9% | 54.2% |
| Q4 25 | -29.2% | -34.7% | ||
| Q3 25 | 33.0% | -5.1% | ||
| Q2 25 | -87.8% | -32.7% | ||
| Q1 25 | 62.5% | -13.3% | ||
| Q4 24 | -60.9% | -25.0% | ||
| Q3 24 | -35.3% | -82.2% | ||
| Q2 24 | -36.5% | -76.5% | ||
| Q1 24 | -65.9% | 50.6% |
| Q4 25 | — | $-0.17 | ||
| Q3 25 | — | $-0.02 | ||
| Q2 25 | — | $-0.11 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | $-0.20 | ||
| Q1 24 | — | $0.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.3M | $36.8M |
| Total DebtLower is stronger | $948.2M | — |
| Stockholders' EquityBook value | $509.6M | $35.5M |
| Total Assets | $1.6B | $70.6M |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $36.8M | ||
| Q3 25 | $84.9M | $21.9M | ||
| Q2 25 | $90.0M | $18.7M | ||
| Q1 25 | $125.5M | $22.7M | ||
| Q4 24 | $63.8M | $26.6M | ||
| Q3 24 | $68.9M | $40.3M | ||
| Q2 24 | $70.6M | $43.1M | ||
| Q1 24 | $99.5M | $51.2M |
| Q4 25 | $948.2M | — | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | — | $19.4M | ||
| Q1 25 | — | $19.4M | ||
| Q4 24 | $718.5M | $19.3M | ||
| Q3 24 | — | $32.1M | ||
| Q2 24 | — | $31.8M | ||
| Q1 24 | — | $31.3M |
| Q4 25 | $509.6M | $35.5M | ||
| Q3 25 | $521.0M | $-4.5M | ||
| Q2 25 | $523.7M | $-7.5M | ||
| Q1 25 | $542.1M | $-5.9M | ||
| Q4 24 | $540.1M | $-5.9M | ||
| Q3 24 | $563.8M | $-5.2M | ||
| Q2 24 | $582.3M | $-1.4M | ||
| Q1 24 | $601.1M | $3.0M |
| Q4 25 | $1.6B | $70.6M | ||
| Q3 25 | $1.4B | $49.3M | ||
| Q2 25 | $1.4B | $44.9M | ||
| Q1 25 | $1.5B | $46.4M | ||
| Q4 24 | $1.8B | $44.9M | ||
| Q3 24 | $1.9B | $58.9M | ||
| Q2 24 | $2.1B | $63.2M | ||
| Q1 24 | $2.1B | $69.2M |
| Q4 25 | 1.86× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.40× |
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 | $21.4M | $-6.0M |
| 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 | $21.4M | $-6.0M | ||
| Q3 25 | $3.8M | $1.5M | ||
| Q2 25 | $4.9M | $-3.7M | ||
| Q1 25 | $8.0M | $-4.3M | ||
| Q4 24 | $35.5M | $-1.5M | ||
| Q3 24 | $8.4M | $-2.2M | ||
| Q2 24 | $8.7M | $-8.4M | ||
| Q1 24 | $11.4M | $39.0M |
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
