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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $71.7M, roughly 1.5× Adaptive Biotechnologies Corp). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -18.9%, a 30.6% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $1.4M). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs 1.0%).
ExpreS2ion Biotechnologies is a Danish biotechnology company specialised in the development of new vaccines and immunotherapy products based in Hørsholm, Denmark and listed on the Nasdaq First North Growth Market Sweden.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
ADPT vs CSV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $105.5M |
| Net Profit | $-13.6M | $12.3M |
| Gross Margin | 74.6% | 34.8% |
| Operating Margin | -17.8% | 23.3% |
| Net Margin | -18.9% | 11.6% |
| Revenue YoY | 51.0% | 8.0% |
| Net Profit YoY | 59.7% | 24.5% |
| EPS (diluted) | $-0.08 | $0.76 |
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 | $71.7M | $105.5M | ||
| Q3 25 | $94.0M | $102.7M | ||
| Q2 25 | $58.9M | $102.1M | ||
| Q1 25 | $52.4M | $107.1M | ||
| Q4 24 | $47.5M | $97.7M | ||
| Q3 24 | $46.4M | $100.7M | ||
| Q2 24 | $43.2M | $102.3M | ||
| Q1 24 | $41.9M | $103.5M |
| Q4 25 | $-13.6M | $12.3M | ||
| Q3 25 | $9.5M | $6.6M | ||
| Q2 25 | $-25.6M | $11.7M | ||
| Q1 25 | $-29.9M | $20.9M | ||
| Q4 24 | $-33.7M | $9.9M | ||
| Q3 24 | $-32.1M | $9.9M | ||
| Q2 24 | $-46.2M | $6.3M | ||
| Q1 24 | $-47.5M | $7.0M |
| Q4 25 | 74.6% | 34.8% | ||
| Q3 25 | 80.7% | 35.3% | ||
| Q2 25 | 69.4% | 35.2% | ||
| Q1 25 | 67.6% | 35.3% | ||
| Q4 24 | 62.0% | 34.4% | ||
| Q3 24 | 64.1% | 35.2% | ||
| Q2 24 | 55.3% | 36.2% | ||
| Q1 24 | 56.9% | 36.0% |
| Q4 25 | -17.8% | 23.3% | ||
| Q3 25 | 10.9% | 17.0% | ||
| Q2 25 | -42.5% | 23.5% | ||
| Q1 25 | -56.4% | 29.5% | ||
| Q4 24 | -71.3% | 21.6% | ||
| Q3 24 | -70.3% | 22.7% | ||
| Q2 24 | -109.6% | 18.0% | ||
| Q1 24 | -116.5% | 18.8% |
| Q4 25 | -18.9% | 11.6% | ||
| Q3 25 | 10.2% | 6.4% | ||
| Q2 25 | -43.5% | 11.5% | ||
| Q1 25 | -56.9% | 19.5% | ||
| Q4 24 | -71.0% | 10.1% | ||
| Q3 24 | -69.1% | 9.8% | ||
| Q2 24 | -107.0% | 6.1% | ||
| Q1 24 | -113.5% | 6.7% |
| Q4 25 | $-0.08 | $0.76 | ||
| Q3 25 | $0.06 | $0.41 | ||
| Q2 25 | $-0.17 | $0.74 | ||
| Q1 25 | $-0.20 | $1.34 | ||
| Q4 24 | $-0.22 | $0.62 | ||
| Q3 24 | $-0.22 | $0.63 | ||
| Q2 24 | $-0.31 | $0.40 | ||
| Q1 24 | $-0.33 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $70.5M | $1.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $218.8M | $254.8M |
| Total Assets | $512.7M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $1.7M | ||
| Q3 25 | $55.0M | $1.2M | ||
| Q2 25 | $43.2M | $1.4M | ||
| Q1 25 | $50.6M | $4.6M | ||
| Q4 24 | $47.9M | $1.2M | ||
| Q3 24 | $38.1M | $1.3M | ||
| Q2 24 | $59.8M | $1.5M | ||
| Q1 24 | $71.2M | $1.7M |
| Q4 25 | $218.8M | $254.8M | ||
| Q3 25 | $204.4M | $242.1M | ||
| Q2 25 | $179.7M | $235.4M | ||
| Q1 25 | $190.4M | $223.1M | ||
| Q4 24 | $202.7M | $208.6M | ||
| Q3 24 | $223.8M | $198.1M | ||
| Q2 24 | $241.6M | $187.9M | ||
| Q1 24 | $274.9M | $179.6M |
| Q4 25 | $512.7M | $1.3B | ||
| Q3 25 | $490.6M | $1.3B | ||
| Q2 25 | $496.6M | $1.3B | ||
| Q1 25 | $510.9M | $1.3B | ||
| Q4 24 | $539.4M | $1.3B | ||
| Q3 24 | $558.5M | $1.3B | ||
| Q2 24 | $584.9M | $1.3B | ||
| Q1 24 | $620.3M | $1.3B |
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 | $2.1M | $14.1M |
| Free Cash FlowOCF − Capex | $1.4M | $6.2M |
| FCF MarginFCF / Revenue | 2.0% | 5.9% |
| Capex IntensityCapex / Revenue | 0.9% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $14.1M | ||
| Q3 25 | $-7.1M | $24.7M | ||
| Q2 25 | $-12.4M | $8.1M | ||
| Q1 25 | $-28.5M | $13.8M | ||
| Q4 24 | $-12.5M | $9.3M | ||
| Q3 24 | $-27.1M | $20.9M | ||
| Q2 24 | $-17.3M | $2.2M | ||
| Q1 24 | $-38.4M | $19.7M |
| Q4 25 | $1.4M | $6.2M | ||
| Q3 25 | $-7.5M | $18.0M | ||
| Q2 25 | $-13.1M | $5.2M | ||
| Q1 25 | $-29.7M | $10.6M | ||
| Q4 24 | $-12.6M | $4.9M | ||
| Q3 24 | $-27.4M | $16.2M | ||
| Q2 24 | $-19.0M | $-1.4M | ||
| Q1 24 | $-39.9M | $16.2M |
| Q4 25 | 2.0% | 5.9% | ||
| Q3 25 | -8.0% | 17.5% | ||
| Q2 25 | -22.2% | 5.1% | ||
| Q1 25 | -56.7% | 9.9% | ||
| Q4 24 | -26.5% | 5.0% | ||
| Q3 24 | -59.0% | 16.1% | ||
| Q2 24 | -44.1% | -1.4% | ||
| Q1 24 | -95.2% | 15.6% |
| Q4 25 | 0.9% | 7.5% | ||
| Q3 25 | 0.4% | 6.5% | ||
| Q2 25 | 1.1% | 2.8% | ||
| Q1 25 | 2.4% | 3.0% | ||
| Q4 24 | 0.2% | 4.5% | ||
| Q3 24 | 0.7% | 4.6% | ||
| Q2 24 | 4.0% | 3.5% | ||
| Q1 24 | 3.6% | 3.4% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | -0.75× | 3.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADPT
| Mrd Business Segment | $61.9M | 86% |
| Immune Medicine Business | $9.8M | 14% |
| Immune Medicine Service Revenue | $100.0K | 0% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
