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Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.

ADC Therapeutics SA is the larger business by last-quarter revenue ($23.1M vs $20.4M, roughly 1.1× TPG Mortgage Investment Trust, Inc.). On growth, ADC Therapeutics SA posted the faster year-over-year revenue change (36.4% vs 17.7%). Over the past eight quarters, ADC Therapeutics SA's revenue compounded faster (13.7% CAGR vs 9.1%).

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.

TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.

ADCT vs MITT — Head-to-Head

Bigger by revenue
ADCT
ADCT
1.1× larger
ADCT
$23.1M
$20.4M
MITT
Growing faster (revenue YoY)
ADCT
ADCT
+18.7% gap
ADCT
36.4%
17.7%
MITT
Faster 2-yr revenue CAGR
ADCT
ADCT
Annualised
ADCT
13.7%
9.1%
MITT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ADCT
ADCT
MITT
MITT
Revenue
$23.1M
$20.4M
Net Profit
$13.3M
Gross Margin
Operating Margin
-77.7%
67.1%
Net Margin
65.0%
Revenue YoY
36.4%
17.7%
Net Profit YoY
-7.0%
EPS (diluted)
$0.04
$0.27

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
MITT
MITT
Q4 25
$23.1M
$20.4M
Q3 25
$15.8M
$19.5M
Q2 25
$18.1M
$17.8M
Q1 25
$17.4M
$18.8M
Q4 24
$16.9M
$17.4M
Q3 24
$18.0M
$14.9M
Q2 24
$17.0M
$16.4M
Q1 24
$17.8M
$17.2M
Net Profit
ADCT
ADCT
MITT
MITT
Q4 25
$13.3M
Q3 25
$-41.0M
$20.0M
Q2 25
$-56.6M
$3.9M
Q1 25
$-38.6M
$11.5M
Q4 24
$14.3M
Q3 24
$-44.0M
$16.6M
Q2 24
$-36.5M
$3.9M
Q1 24
$-46.6M
$20.9M
Operating Margin
ADCT
ADCT
MITT
MITT
Q4 25
-77.7%
67.1%
Q3 25
-196.6%
Q2 25
-244.1%
20.9%
Q1 25
-163.5%
54.6%
Q4 24
-191.8%
76.7%
Q3 24
-197.4%
Q2 24
-170.5%
18.4%
Q1 24
-188.3%
Net Margin
ADCT
ADCT
MITT
MITT
Q4 25
65.0%
Q3 25
-260.1%
102.5%
Q2 25
-313.2%
22.2%
Q1 25
-221.8%
60.9%
Q4 24
82.2%
Q3 24
-244.1%
111.3%
Q2 24
-214.6%
24.0%
Q1 24
-261.1%
121.6%
EPS (diluted)
ADCT
ADCT
MITT
MITT
Q4 25
$0.04
$0.27
Q3 25
$-0.30
$0.47
Q2 25
$-0.50
$-0.05
Q1 25
$-0.36
$0.21
Q4 24
$-0.26
$0.30
Q3 24
$-0.42
$0.40
Q2 24
$-0.38
$-0.02
Q1 24
$-0.56
$0.55

Balance Sheet & Financial Strength

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

Metric
ADCT
ADCT
MITT
MITT
Cash + ST InvestmentsLiquidity on hand
$261.3M
$57.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$-185.8M
$560.7M
Total Assets
$323.1M
$8.7B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ADCT
ADCT
MITT
MITT
Q4 25
$261.3M
$57.8M
Q3 25
$234.7M
$59.0M
Q2 25
$264.6M
$88.7M
Q1 25
$194.7M
$115.5M
Q4 24
$250.9M
$118.7M
Q3 24
$274.3M
$102.5M
Q2 24
$300.1M
$120.9M
Q1 24
$234.3M
$100.3M
Stockholders' Equity
ADCT
ADCT
MITT
MITT
Q4 25
$-185.8M
$560.7M
Q3 25
$-238.2M
$559.8M
Q2 25
$-199.2M
$536.4M
Q1 25
$-238.2M
$543.9M
Q4 24
$-202.6M
$543.4M
Q3 24
$-171.9M
$540.1M
Q2 24
$-131.7M
$533.5M
Q1 24
$-194.4M
$539.6M
Total Assets
ADCT
ADCT
MITT
MITT
Q4 25
$323.1M
$8.7B
Q3 25
$289.8M
$9.0B
Q2 25
$321.6M
$7.5B
Q1 25
$272.5M
$7.3B
Q4 24
$322.0M
$6.9B
Q3 24
$349.1M
$7.0B
Q2 24
$371.8M
$7.1B
Q1 24
$308.0M
$6.4B

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
MITT
MITT
Operating Cash FlowLast quarter
$-31.1M
$59.6M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
4.48×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ADCT
ADCT
MITT
MITT
Q4 25
$-31.1M
$59.6M
Q3 25
$-29.6M
$17.4M
Q2 25
$-24.1M
$11.5M
Q1 25
$-56.3M
$12.0M
Q4 24
$-21.9M
$55.8M
Q3 24
$-25.0M
$14.5M
Q2 24
$-32.8M
$13.7M
Q1 24
$-44.1M
$12.0M
Free Cash Flow
ADCT
ADCT
MITT
MITT
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
MITT
MITT
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
MITT
MITT
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
MITT
MITT
Q4 25
4.48×
Q3 25
0.87×
Q2 25
2.92×
Q1 25
1.05×
Q4 24
3.91×
Q3 24
0.87×
Q2 24
3.50×
Q1 24
0.57×

Financial Flow Comparison

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

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