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Side-by-side financial comparison of ASSURED GUARANTY LTD (AGO) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
ASSURED GUARANTY LTD is the larger business by last-quarter revenue ($277.0M vs $219.1M, roughly 1.3× Iridium Communications Inc.). ASSURED GUARANTY LTD runs the higher net margin — 43.0% vs 9.9%, a 33.1% gap on every dollar of revenue. On growth, ASSURED GUARANTY LTD posted the faster year-over-year revenue change (77.6% vs 1.9%). Over the past eight quarters, ASSURED GUARANTY LTD's revenue compounded faster (6.3% CAGR vs 4.4%).
Assured Investment Management (AIM) was an institutional asset management firm with a heritage in credit strategies, managing approximately $15.2 billion as of its defunct status in July 2023. Secondaries Investors referred to AIM as "one of the world's most prominent hedge funds".
Iridium Communications Inc. is a publicly traded American company headquartered in McLean, Virginia, United States. Iridium operates the Iridium satellite constellation, a system of 80 satellites: 66 are active satellites and the remaining fourteen function as in-orbit spares. Iridium Satellites are used for worldwide voice and data communication from handheld satellite phones, satellite messenger communication devices and integrated transceivers, as well as for two-way satellite messaging se...
AGO vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $277.0M | $219.1M |
| Net Profit | $119.0M | $21.6M |
| Gross Margin | — | — |
| Operating Margin | 59.6% | 23.2% |
| Net Margin | 43.0% | 9.9% |
| Revenue YoY | 77.6% | 1.9% |
| Net Profit YoY | 561.1% | — |
| EPS (diluted) | $2.56 | — |
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.
| Q1 26 | — | $219.1M | ||
| Q4 25 | $277.0M | $212.9M | ||
| Q3 25 | $207.0M | $226.9M | ||
| Q2 25 | $281.0M | $216.9M | ||
| Q1 25 | $345.0M | $214.9M | ||
| Q4 24 | $156.0M | $213.0M | ||
| Q3 24 | $269.0M | $212.8M | ||
| Q2 24 | $202.0M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $119.0M | $24.9M | ||
| Q3 25 | $105.0M | $37.1M | ||
| Q2 25 | $103.0M | $22.0M | ||
| Q1 25 | $176.0M | $30.4M | ||
| Q4 24 | $18.0M | $36.3M | ||
| Q3 24 | $171.0M | $24.4M | ||
| Q2 24 | $78.0M | $32.3M |
| Q1 26 | — | 23.2% | ||
| Q4 25 | 59.6% | 25.9% | ||
| Q3 25 | 65.2% | 30.9% | ||
| Q2 25 | 47.3% | 23.2% | ||
| Q1 25 | 66.4% | 28.1% | ||
| Q4 24 | 19.2% | 24.5% | ||
| Q3 24 | 81.8% | 25.8% | ||
| Q2 24 | 46.5% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 43.0% | 11.7% | ||
| Q3 25 | 50.7% | 16.4% | ||
| Q2 25 | 36.7% | 10.1% | ||
| Q1 25 | 51.0% | 14.2% | ||
| Q4 24 | 11.5% | 17.1% | ||
| Q3 24 | 63.6% | 11.5% | ||
| Q2 24 | 38.6% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $2.56 | $0.24 | ||
| Q3 25 | $2.18 | $0.35 | ||
| Q2 25 | $2.08 | $0.20 | ||
| Q1 25 | $3.44 | $0.27 | ||
| Q4 24 | $0.40 | $0.30 | ||
| Q3 24 | $3.17 | $0.21 | ||
| Q2 24 | $1.41 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $903.0M | — |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $5.7B | — |
| Total Assets | $12.2B | — |
| Debt / EquityLower = less leverage | 0.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $903.0M | $96.5M | ||
| Q3 25 | $1.3B | $88.5M | ||
| Q2 25 | $939.0M | $79.3M | ||
| Q1 25 | $1.2B | $50.9M | ||
| Q4 24 | $1.2B | $93.5M | ||
| Q3 24 | $1.5B | $159.6M | ||
| Q2 24 | $1.7B | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $1.8B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — |
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $462.6M | ||
| Q3 25 | $5.7B | $450.5M | ||
| Q2 25 | $5.6B | $473.6M | ||
| Q1 25 | $5.6B | $518.4M | ||
| Q4 24 | $5.5B | $576.6M | ||
| Q3 24 | $5.7B | $663.8M | ||
| Q2 24 | $5.5B | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $12.2B | $2.5B | ||
| Q3 25 | $12.1B | $2.6B | ||
| Q2 25 | $12.1B | $2.6B | ||
| Q1 25 | $11.9B | $2.6B | ||
| Q4 24 | $11.9B | $2.7B | ||
| Q3 24 | $12.3B | $2.8B | ||
| Q2 24 | $12.1B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.30× | 3.80× | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | 3.05× | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.31× | — |
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 | $259.0M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 13.7% |
| Cash ConversionOCF / Net Profit | 2.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $259.0M | $108.6M | ||
| Q3 25 | $55.0M | $100.8M | ||
| Q2 25 | $78.0M | $129.6M | ||
| Q1 25 | $87.0M | $61.1M | ||
| Q4 24 | $47.0M | $104.8M | ||
| Q3 24 | $17.0M | $118.6M | ||
| Q2 24 | $58.0M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $75.1M | ||
| Q3 25 | — | $79.2M | ||
| Q2 25 | — | $108.9M | ||
| Q1 25 | — | $36.5M | ||
| Q4 24 | — | $80.5M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.3% | ||
| Q3 25 | — | 34.9% | ||
| Q2 25 | — | 50.2% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | 37.8% | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | — | 15.7% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.18× | 4.37× | ||
| Q3 25 | 0.52× | 2.71× | ||
| Q2 25 | 0.76× | 5.90× | ||
| Q1 25 | 0.49× | 2.01× | ||
| Q4 24 | 2.61× | 2.88× | ||
| Q3 24 | 0.10× | 4.85× | ||
| Q2 24 | 0.74× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGO
| Insurance Segment | $226.0M | 82% |
| Other | $37.0M | 13% |
| Gain Loss On Investments Member1 | $8.0M | 3% |
| Non Credit Impairment Related Unrealized Fair Value Gains Losses On Credit Derivatives | $6.0M | 2% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
