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Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and Invesco Mortgage Capital Inc. (IVR). Click either name above to swap in a different company.

ADC Therapeutics SA is the larger business by last-quarter revenue ($23.1M vs $21.3M, roughly 1.1× Invesco Mortgage Capital Inc.). On growth, Invesco Mortgage Capital Inc. posted the faster year-over-year revenue change (55.4% vs 36.4%). Over the past eight quarters, Invesco Mortgage Capital Inc.'s revenue compounded faster (74.2% CAGR vs 13.7%).

ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.

Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.

ADCT vs IVR — Head-to-Head

Bigger by revenue
ADCT
ADCT
1.1× larger
ADCT
$23.1M
$21.3M
IVR
Growing faster (revenue YoY)
IVR
IVR
+19.0% gap
IVR
55.4%
36.4%
ADCT
Faster 2-yr revenue CAGR
IVR
IVR
Annualised
IVR
74.2%
13.7%
ADCT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ADCT
ADCT
IVR
IVR
Revenue
$23.1M
$21.3M
Net Profit
$51.5M
Gross Margin
Operating Margin
-77.7%
Net Margin
242.2%
Revenue YoY
36.4%
55.4%
Net Profit YoY
1368.7%
EPS (diluted)
$0.04
$0.72

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.

Revenue
ADCT
ADCT
IVR
IVR
Q4 25
$23.1M
$21.3M
Q3 25
$15.8M
$17.6M
Q2 25
$18.1M
$17.7M
Q1 25
$17.4M
$18.8M
Q4 24
$16.9M
$13.7M
Q3 24
$18.0M
$7.5M
Q2 24
$17.0M
$8.6M
Q1 24
$17.8M
$7.0M
Net Profit
ADCT
ADCT
IVR
IVR
Q4 25
$51.5M
Q3 25
$-41.0M
$53.5M
Q2 25
$-56.6M
$-23.3M
Q1 25
$-38.6M
$19.6M
Q4 24
$3.5M
Q3 24
$-44.0M
$40.7M
Q2 24
$-36.5M
$-13.5M
Q1 24
$-46.6M
$29.1M
Operating Margin
ADCT
ADCT
IVR
IVR
Q4 25
-77.7%
Q3 25
-196.6%
Q2 25
-244.1%
Q1 25
-163.5%
Q4 24
-191.8%
Q3 24
-197.4%
Q2 24
-170.5%
Q1 24
-188.3%
Net Margin
ADCT
ADCT
IVR
IVR
Q4 25
242.2%
Q3 25
-260.1%
303.6%
Q2 25
-313.2%
-131.6%
Q1 25
-221.8%
104.4%
Q4 24
25.6%
Q3 24
-244.1%
542.2%
Q2 24
-214.6%
-155.9%
Q1 24
-261.1%
415.9%
EPS (diluted)
ADCT
ADCT
IVR
IVR
Q4 25
$0.04
$0.72
Q3 25
$-0.30
$0.74
Q2 25
$-0.50
$-0.40
Q1 25
$-0.36
$0.26
Q4 24
$-0.26
$-0.09
Q3 24
$-0.42
$0.63
Q2 24
$-0.38
$-0.38
Q1 24
$-0.56
$0.49

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ADCT
ADCT
IVR
IVR
Cash + ST InvestmentsLiquidity on hand
$261.3M
$56.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$-185.8M
$797.5M
Total Assets
$323.1M
$6.5B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ADCT
ADCT
IVR
IVR
Q4 25
$261.3M
$56.0M
Q3 25
$234.7M
$58.5M
Q2 25
$264.6M
$59.4M
Q1 25
$194.7M
$42.9M
Q4 24
$250.9M
$73.4M
Q3 24
$274.3M
$48.3M
Q2 24
$300.1M
$58.8M
Q1 24
$234.3M
$59.9M
Stockholders' Equity
ADCT
ADCT
IVR
IVR
Q4 25
$-185.8M
$797.5M
Q3 25
$-238.2M
$769.6M
Q2 25
$-199.2M
$709.4M
Q1 25
$-238.2M
$759.2M
Q4 24
$-202.6M
$730.7M
Q3 24
$-171.9M
$857.0M
Q2 24
$-131.7M
$759.2M
Q1 24
$-194.4M
$785.6M
Total Assets
ADCT
ADCT
IVR
IVR
Q4 25
$323.1M
$6.5B
Q3 25
$289.8M
$6.0B
Q2 25
$321.6M
$5.4B
Q1 25
$272.5M
$6.2B
Q4 24
$322.0M
$5.7B
Q3 24
$349.1M
$6.1B
Q2 24
$371.8M
$5.1B
Q1 24
$308.0M
$5.2B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ADCT
ADCT
IVR
IVR
Operating Cash FlowLast quarter
$-31.1M
$157.1M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
3.05×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ADCT
ADCT
IVR
IVR
Q4 25
$-31.1M
$157.1M
Q3 25
$-29.6M
$37.3M
Q2 25
$-24.1M
$40.6M
Q1 25
$-56.3M
$19.3M
Q4 24
$-21.9M
$183.2M
Q3 24
$-25.0M
$30.8M
Q2 24
$-32.8M
$33.0M
Q1 24
$-44.1M
$57.5M
Free Cash Flow
ADCT
ADCT
IVR
IVR
Q4 25
Q3 25
Q2 25
Q1 25
$-56.6M
Q4 24
$-21.9M
Q3 24
$-25.3M
Q2 24
$-32.9M
Q1 24
$-44.6M
FCF Margin
ADCT
ADCT
IVR
IVR
Q4 25
Q3 25
Q2 25
Q1 25
-325.2%
Q4 24
-129.8%
Q3 24
-140.2%
Q2 24
-193.0%
Q1 24
-250.0%
Capex Intensity
ADCT
ADCT
IVR
IVR
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.0%
Q1 25
1.5%
Q4 24
0.5%
Q3 24
1.2%
Q2 24
0.2%
Q1 24
3.0%
Cash Conversion
ADCT
ADCT
IVR
IVR
Q4 25
3.05×
Q3 25
0.70×
Q2 25
Q1 25
0.98×
Q4 24
52.24×
Q3 24
0.76×
Q2 24
Q1 24
1.97×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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