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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $75.6M, roughly 1.3× Armada Hoffler Properties, Inc.). Armada Hoffler Properties, Inc. runs the higher net margin — 3.1% vs -7.0%, a 10.2% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 0.8%). Over the past eight quarters, Latham Group, Inc.'s revenue compounded faster (-4.9% CAGR vs -22.8%).
Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AHH vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.6M | $100.0M |
| Net Profit | $2.4M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 31.0% | -10.7% |
| Net Margin | 3.1% | -7.0% |
| Revenue YoY | 0.8% | 14.5% |
| Net Profit YoY | -89.8% | 76.0% |
| EPS (diluted) | $0.00 | $-0.06 |
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 | $75.6M | $100.0M | ||
| Q3 25 | $72.7M | $161.9M | ||
| Q2 25 | $69.1M | $172.6M | ||
| Q1 25 | $67.8M | $111.4M | ||
| Q4 24 | $75.0M | $87.3M | ||
| Q3 24 | $114.4M | $150.5M | ||
| Q2 24 | $116.8M | $160.1M | ||
| Q1 24 | $127.0M | $110.6M |
| Q4 25 | $2.4M | $-7.0M | ||
| Q3 25 | $80.0K | $8.1M | ||
| Q2 25 | $5.9M | $16.0M | ||
| Q1 25 | $-2.8M | $-6.0M | ||
| Q4 24 | $23.4M | $-29.2M | ||
| Q3 24 | $-5.0M | $5.9M | ||
| Q2 24 | $3.2M | $13.3M | ||
| Q1 24 | $14.1M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 45.0% | 32.4% | ||
| Q2 24 | 41.8% | 33.1% | ||
| Q1 24 | 37.9% | 27.7% |
| Q4 25 | 31.0% | -10.7% | ||
| Q3 25 | 29.2% | 13.3% | ||
| Q2 25 | 29.6% | 14.3% | ||
| Q1 25 | 23.2% | -4.4% | ||
| Q4 24 | 50.1% | -14.9% | ||
| Q3 24 | 19.0% | 8.9% | ||
| Q2 24 | 11.9% | 12.5% | ||
| Q1 24 | 15.1% | -1.9% |
| Q4 25 | 3.1% | -7.0% | ||
| Q3 25 | 0.1% | 5.0% | ||
| Q2 25 | 8.6% | 9.3% | ||
| Q1 25 | -4.1% | -5.4% | ||
| Q4 24 | 31.2% | -33.4% | ||
| Q3 24 | -4.4% | 3.9% | ||
| Q2 24 | 2.7% | 8.3% | ||
| Q1 24 | 11.1% | -7.1% |
| Q4 25 | $0.00 | $-0.06 | ||
| Q3 25 | $-0.04 | $0.07 | ||
| Q2 25 | $0.04 | $0.13 | ||
| Q1 25 | $-0.07 | $-0.05 | ||
| Q4 24 | $0.28 | $-0.24 | ||
| Q3 24 | $-0.11 | $0.05 | ||
| Q2 24 | $0.00 | $0.11 | ||
| Q1 24 | $0.17 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.1M | — |
| Total DebtLower is stronger | $1.5B | $279.8M |
| Stockholders' EquityBook value | $627.8M | $405.9M |
| Total Assets | $2.6B | $823.2M |
| Debt / EquityLower = less leverage | 2.43× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | — | ||
| Q3 25 | $46.5M | — | ||
| Q2 25 | $52.1M | — | ||
| Q1 25 | $45.7M | — | ||
| Q4 24 | $31.9M | — | ||
| Q3 24 | $43.9M | — | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $41.9M | — |
| Q4 25 | $1.5B | $279.8M | ||
| Q3 25 | $1.5B | $281.1M | ||
| Q2 25 | $1.4B | $281.5M | ||
| Q1 25 | $1.3B | $306.9M | ||
| Q4 24 | $1.3B | $281.5M | ||
| Q3 24 | $1.3B | $282.8M | ||
| Q2 24 | $1.4B | $282.4M | ||
| Q1 24 | $1.4B | $282.8M |
| Q4 25 | $627.8M | $405.9M | ||
| Q3 25 | $638.8M | $408.4M | ||
| Q2 25 | $652.0M | $398.4M | ||
| Q1 25 | $657.4M | $381.1M | ||
| Q4 24 | $670.6M | $387.2M | ||
| Q3 24 | $663.9M | $416.6M | ||
| Q2 24 | $562.7M | $408.1M | ||
| Q1 24 | $571.4M | $391.8M |
| Q4 25 | $2.6B | $823.2M | ||
| Q3 25 | $2.6B | $844.4M | ||
| Q2 25 | $2.6B | $822.1M | ||
| Q1 25 | $2.5B | $824.6M | ||
| Q4 24 | $2.5B | $794.2M | ||
| Q3 24 | $2.6B | $853.4M | ||
| Q2 24 | $2.6B | $830.0M | ||
| Q1 24 | $2.6B | $808.6M |
| Q4 25 | 2.43× | 0.69× | ||
| Q3 25 | 2.33× | 0.69× | ||
| Q2 25 | 2.22× | 0.71× | ||
| Q1 25 | 2.01× | 0.81× | ||
| Q4 24 | 1.93× | 0.73× | ||
| Q3 24 | 2.00× | 0.68× | ||
| Q2 24 | 2.52× | 0.69× | ||
| Q1 24 | 2.50× | 0.72× |
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 | $64.2M | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | 26.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.2M | $23.3M | ||
| Q3 25 | $26.3M | $51.0M | ||
| Q2 25 | $11.1M | $36.0M | ||
| Q1 25 | $107.0K | $-46.9M | ||
| Q4 24 | $112.0M | $6.2M | ||
| Q3 24 | $27.3M | $37.2M | ||
| Q2 24 | $17.4M | $52.4M | ||
| Q1 24 | $46.5M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
| Q4 25 | 26.99× | — | ||
| Q3 25 | 328.63× | 6.29× | ||
| Q2 25 | 1.87× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.78× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | 5.48× | 3.95× | ||
| Q1 24 | 3.30× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
