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Side-by-side financial comparison of Allegion (ALLE) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
Allegion is the larger business by last-quarter revenue ($1.0B vs $382.7M, roughly 2.7× INNOVATE Corp.). Allegion runs the higher net margin — 14.3% vs -1.9%, a 16.2% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 9.3%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 7.5%).
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories. The company sells its products and solutions to end-users in commercial, institutional, and residential facili...
Innovate Corp. is an American public financial services company founded in 1994.
ALLE vs VATE — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $382.7M |
| Net Profit | $147.5M | $-7.4M |
| Gross Margin | 44.5% | 15.4% |
| Operating Margin | 20.3% | 3.7% |
| Net Margin | 14.3% | -1.9% |
| Revenue YoY | 9.3% | 61.7% |
| Net Profit YoY | 2.4% | 55.4% |
| EPS (diluted) | $1.70 | $-0.57 |
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 | $1.0B | $382.7M | ||
| Q3 25 | $1.1B | $347.1M | ||
| Q2 25 | $1.0B | $242.0M | ||
| Q1 25 | $941.9M | $274.2M | ||
| Q4 24 | $945.6M | $236.6M | ||
| Q3 24 | $967.1M | $242.2M | ||
| Q2 24 | $965.6M | $313.1M | ||
| Q1 24 | $893.9M | $315.2M |
| Q4 25 | $147.5M | $-7.4M | ||
| Q3 25 | $188.4M | $-8.9M | ||
| Q2 25 | $159.7M | $-19.8M | ||
| Q1 25 | $148.2M | $-24.5M | ||
| Q4 24 | $144.1M | $-16.6M | ||
| Q3 24 | $174.2M | $-15.0M | ||
| Q2 24 | $155.4M | $14.4M | ||
| Q1 24 | $123.8M | $-17.4M |
| Q4 25 | 44.5% | 15.4% | ||
| Q3 25 | 45.8% | 14.3% | ||
| Q2 25 | 45.6% | 18.8% | ||
| Q1 25 | 44.9% | 16.6% | ||
| Q4 24 | 44.1% | 19.6% | ||
| Q3 24 | 44.7% | 19.9% | ||
| Q2 24 | 44.4% | 21.0% | ||
| Q1 24 | 43.8% | 15.4% |
| Q4 25 | 20.3% | 3.7% | ||
| Q3 25 | 21.8% | 1.8% | ||
| Q2 25 | 21.5% | 2.0% | ||
| Q1 25 | 20.9% | 1.2% | ||
| Q4 24 | 19.5% | 1.1% | ||
| Q3 24 | 22.2% | 2.4% | ||
| Q2 24 | 21.6% | 9.2% | ||
| Q1 24 | 19.3% | 0.9% |
| Q4 25 | 14.3% | -1.9% | ||
| Q3 25 | 17.6% | -2.6% | ||
| Q2 25 | 15.6% | -8.2% | ||
| Q1 25 | 15.7% | -8.9% | ||
| Q4 24 | 15.2% | -7.0% | ||
| Q3 24 | 18.0% | -6.2% | ||
| Q2 24 | 16.1% | 4.6% | ||
| Q1 24 | 13.8% | -5.5% |
| Q4 25 | $1.70 | $-0.57 | ||
| Q3 25 | $2.18 | $-0.71 | ||
| Q2 25 | $1.85 | $-1.67 | ||
| Q1 25 | $1.71 | $-1.89 | ||
| Q4 24 | $1.65 | $-0.72 | ||
| Q3 24 | $1.99 | $-1.18 | ||
| Q2 24 | $1.77 | $1.03 | ||
| Q1 24 | $1.41 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $356.2M | $112.1M |
| Total DebtLower is stronger | $2.0B | $80.3M |
| Stockholders' EquityBook value | $2.1B | $-240.1M |
| Total Assets | $5.2B | $950.1M |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $356.2M | $112.1M | ||
| Q3 25 | $302.7M | $35.5M | ||
| Q2 25 | $656.8M | $33.4M | ||
| Q1 25 | $494.5M | $33.3M | ||
| Q4 24 | $503.8M | $48.8M | ||
| Q3 24 | $878.9M | $51.0M | ||
| Q2 24 | $747.5M | $80.2M | ||
| Q1 24 | $391.8M | $38.4M |
| Q4 25 | $2.0B | $80.3M | ||
| Q3 25 | $2.1B | $97.3M | ||
| Q2 25 | $2.1B | $160.1M | ||
| Q1 25 | $2.0B | $139.9M | ||
| Q4 24 | $2.0B | $500.6M | ||
| Q3 24 | $2.4B | $502.4M | ||
| Q2 24 | $2.4B | $638.3M | ||
| Q1 24 | $2.0B | $641.5M |
| Q4 25 | $2.1B | $-240.1M | ||
| Q3 25 | $1.9B | $-233.3M | ||
| Q2 25 | $1.8B | $-224.8M | ||
| Q1 25 | $1.6B | $-204.2M | ||
| Q4 24 | $1.5B | $-180.4M | ||
| Q3 24 | $1.6B | $-163.1M | ||
| Q2 24 | $1.4B | $-149.0M | ||
| Q1 24 | $1.4B | $-184.4M |
| Q4 25 | $5.2B | $950.1M | ||
| Q3 25 | $5.2B | $913.2M | ||
| Q2 25 | $4.9B | $890.9M | ||
| Q1 25 | $4.6B | $868.0M | ||
| Q4 24 | $4.5B | $891.1M | ||
| Q3 24 | $5.0B | $897.2M | ||
| Q2 24 | $4.8B | $898.9M | ||
| Q1 24 | $4.3B | $943.5M |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 1.49× | — |
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 | $240.1M | $101.1M |
| Free Cash FlowOCF − Capex | $200.5M | — |
| FCF MarginFCF / Revenue | 19.4% | — |
| Capex IntensityCapex / Revenue | 3.8% | — |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $685.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $240.1M | $101.1M | ||
| Q3 25 | $229.5M | $19.2M | ||
| Q2 25 | $209.7M | $40.4M | ||
| Q1 25 | $104.5M | $-14.1M | ||
| Q4 24 | $219.0M | $41.4M | ||
| Q3 24 | $231.9M | $-28.4M | ||
| Q2 24 | $173.0M | $21.5M | ||
| Q1 24 | $51.1M | $-25.4M |
| Q4 25 | $200.5M | — | ||
| Q3 25 | $209.8M | $19.0M | ||
| Q2 25 | $192.0M | — | ||
| Q1 25 | $83.4M | $-18.8M | ||
| Q4 24 | $194.9M | $34.2M | ||
| Q3 24 | $212.0M | $-31.5M | ||
| Q2 24 | $152.1M | $18.4M | ||
| Q1 24 | $23.9M | $-31.0M |
| Q4 25 | 19.4% | — | ||
| Q3 25 | 19.6% | 5.5% | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 8.9% | -6.9% | ||
| Q4 24 | 20.6% | 14.5% | ||
| Q3 24 | 21.9% | -13.0% | ||
| Q2 24 | 15.8% | 5.9% | ||
| Q1 24 | 2.7% | -9.8% |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.8% | 0.1% | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | 1.7% | ||
| Q4 24 | 2.5% | 3.0% | ||
| Q3 24 | 2.1% | 1.3% | ||
| Q2 24 | 2.2% | 1.0% | ||
| Q1 24 | 3.0% | 1.8% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.11× | 1.49× | ||
| Q1 24 | 0.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALLE
| Products | $750.2M | 73% |
| Allegion International | $237.7M | 23% |
| Services | $45.2M | 4% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
