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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
4D Molecular Therapeutics, Inc. is the larger business by last-quarter revenue ($85.1M vs $50.1M, roughly 1.7× ACACIA RESEARCH CORP). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 6.8%, a 16.0% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 2.6%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 43.6%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
ACTG vs FDMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $85.1M |
| Net Profit | $3.4M | $19.4M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | 17.3% |
| Net Margin | 6.8% | 22.8% |
| Revenue YoY | 2.6% | 8508900.0% |
| Net Profit YoY | 125.5% | 139.1% |
| EPS (diluted) | $0.03 | $0.43 |
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 | $50.1M | $85.1M | ||
| Q3 25 | $59.4M | $90.0K | ||
| Q2 25 | $51.2M | $15.0K | ||
| Q1 25 | $124.4M | $14.0K | ||
| Q4 24 | $48.8M | $1.0K | ||
| Q3 24 | $23.3M | $3.0K | ||
| Q2 24 | $25.8M | $5.0K | ||
| Q1 24 | $24.3M | $28.0K |
| Q4 25 | $3.4M | $19.4M | ||
| Q3 25 | $-2.7M | $-56.9M | ||
| Q2 25 | $-3.3M | $-54.7M | ||
| Q1 25 | $24.3M | $-48.0M | ||
| Q4 24 | $-13.4M | — | ||
| Q3 24 | $-14.0M | $-43.8M | ||
| Q2 24 | $-8.4M | $-35.0M | ||
| Q1 24 | $-186.0K | $-32.4M |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | 17.3% | ||
| Q3 25 | -10.8% | -67983.3% | ||
| Q2 25 | -24.2% | -396373.3% | ||
| Q1 25 | 30.8% | -383007.1% | ||
| Q4 24 | -32.4% | — | ||
| Q3 24 | -44.1% | -1704400.0% | ||
| Q2 24 | -18.4% | -849120.0% | ||
| Q1 24 | -8.6% | -136200.0% |
| Q4 25 | 6.8% | 22.8% | ||
| Q3 25 | -4.6% | -63195.6% | ||
| Q2 25 | -6.4% | -364386.7% | ||
| Q1 25 | 19.5% | -342657.1% | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | -60.0% | -1461433.3% | ||
| Q2 24 | -32.7% | -699060.0% | ||
| Q1 24 | -0.8% | -115717.9% |
| Q4 25 | $0.03 | $0.43 | ||
| Q3 25 | $-0.03 | $-1.01 | ||
| Q2 25 | $-0.03 | $-0.98 | ||
| Q1 25 | $0.25 | $-0.86 | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.14 | $-0.79 | ||
| Q2 24 | $-0.08 | $-0.63 | ||
| Q1 24 | $0.00 | $-0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $402.7M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $505.7M |
| Total Assets | $771.0M | $566.7M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $402.7M | ||
| Q3 25 | $301.8M | $305.1M | ||
| Q2 25 | $316.7M | $293.2M | ||
| Q1 25 | $272.0M | $321.4M | ||
| Q4 24 | $273.9M | $424.9M | ||
| Q3 24 | $410.9M | $501.9M | ||
| Q2 24 | $441.9M | $541.9M | ||
| Q1 24 | $498.4M | $525.9M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $505.7M | ||
| Q3 25 | $537.6M | $369.0M | ||
| Q2 25 | $538.6M | $420.9M | ||
| Q1 25 | $540.2M | $469.7M | ||
| Q4 24 | $514.8M | $510.6M | ||
| Q3 24 | $540.2M | $552.9M | ||
| Q2 24 | $560.7M | $588.3M | ||
| Q1 24 | $568.3M | $600.6M |
| Q4 25 | $771.0M | $566.7M | ||
| Q3 25 | $768.9M | $424.0M | ||
| Q2 25 | $775.5M | $473.6M | ||
| Q1 25 | $801.6M | $515.7M | ||
| Q4 24 | $756.4M | $560.4M | ||
| Q3 24 | $707.6M | $604.0M | ||
| Q2 24 | $753.6M | $620.1M | ||
| Q1 24 | $631.7M | $629.9M |
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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 | $75.2M | $28.6M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 33.5% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 22.01× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $28.6M | ||
| Q3 25 | $9.5M | $-46.5M | ||
| Q2 25 | $50.1M | $-43.4M | ||
| Q1 25 | $2.4M | $-47.8M | ||
| Q4 24 | $50.1M | $-134.6M | ||
| Q3 24 | $-593.0K | $-29.4M | ||
| Q2 24 | $16.1M | $-30.2M | ||
| Q1 24 | $54.8M | $-29.1M |
| Q4 25 | — | $28.5M | ||
| Q3 25 | — | $-46.6M | ||
| Q2 25 | — | $-43.4M | ||
| Q1 25 | $335.0K | $-48.4M | ||
| Q4 24 | $-98.5M | $-138.4M | ||
| Q3 24 | $-2.8M | $-31.2M | ||
| Q2 24 | $-126.7M | $-30.6M | ||
| Q1 24 | $54.6M | $-29.8M |
| Q4 25 | — | 33.5% | ||
| Q3 25 | — | -51765.6% | ||
| Q2 25 | — | -289620.0% | ||
| Q1 25 | 0.3% | -345635.7% | ||
| Q4 24 | -201.8% | -13837100.0% | ||
| Q3 24 | -12.1% | -1038966.7% | ||
| Q2 24 | -490.5% | -611840.0% | ||
| Q1 24 | 224.4% | -106421.4% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 101.1% | ||
| Q2 25 | — | 440.0% | ||
| Q1 25 | 1.7% | 4507.1% | ||
| Q4 24 | 304.4% | 378600.0% | ||
| Q3 24 | 9.6% | 59266.7% | ||
| Q2 24 | 553.0% | 6980.0% | ||
| Q1 24 | 1.1% | 2535.7% |
| Q4 25 | 22.01× | 1.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
FDMT
Segment breakdown not available.
