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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) 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 $86.6M, roughly 1.2× AlTi Global, Inc.). Latham Group, Inc. runs the higher net margin — -7.0% vs -15.1%, a 8.1% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-52.2M). Over the past eight quarters, AlTi Global, Inc.'s revenue compounded faster (30.6% CAGR vs -4.9%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
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.
ALTI vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $100.0M |
| Net Profit | $-13.1M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | -2.1% | -10.7% |
| Net Margin | -15.1% | -7.0% |
| Revenue YoY | 87.0% | 14.5% |
| Net Profit YoY | 75.6% | 76.0% |
| EPS (diluted) | — | $-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 | $86.6M | $100.0M | ||
| Q3 25 | $57.2M | $161.9M | ||
| Q2 25 | $53.1M | $172.6M | ||
| Q1 25 | $58.0M | $111.4M | ||
| Q4 24 | $46.3M | $87.3M | ||
| Q3 24 | $51.8M | $150.5M | ||
| Q2 24 | $49.5M | $160.1M | ||
| Q1 24 | $50.8M | $110.6M |
| Q4 25 | $-13.1M | $-7.0M | ||
| Q3 25 | $-84.1M | $8.1M | ||
| Q2 25 | $-24.4M | $16.0M | ||
| Q1 25 | $1.9M | $-6.0M | ||
| Q4 24 | $-53.8M | $-29.2M | ||
| Q3 24 | $-72.5M | $5.9M | ||
| Q2 24 | $-6.4M | $13.3M | ||
| Q1 24 | $29.7M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | -2.1% | -10.7% | ||
| Q3 25 | -49.8% | 13.3% | ||
| Q2 25 | -56.7% | 14.3% | ||
| Q1 25 | -23.3% | -4.4% | ||
| Q4 24 | -42.7% | -14.9% | ||
| Q3 24 | -18.4% | 8.9% | ||
| Q2 24 | -30.2% | 12.5% | ||
| Q1 24 | -28.9% | -1.9% |
| Q4 25 | -15.1% | -7.0% | ||
| Q3 25 | -147.0% | 5.0% | ||
| Q2 25 | -45.9% | 9.3% | ||
| Q1 25 | 3.3% | -5.4% | ||
| Q4 24 | -116.1% | -33.4% | ||
| Q3 24 | -140.0% | 3.9% | ||
| Q2 24 | -12.9% | 8.3% | ||
| Q1 24 | 58.4% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | $-0.33 | $0.13 | ||
| Q1 25 | $-0.04 | $-0.05 | ||
| Q4 24 | $-0.71 | $-0.24 | ||
| Q3 24 | $-0.88 | $0.05 | ||
| Q2 24 | $-0.18 | $0.11 | ||
| Q1 24 | $0.18 | $-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 | $41.2M | — |
| Total DebtLower is stronger | $883.0K | $279.8M |
| Stockholders' EquityBook value | $600.1M | $405.9M |
| Total Assets | $1.2B | $823.2M |
| Debt / EquityLower = less leverage | 0.00× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | — | ||
| Q3 25 | $35.8M | — | ||
| Q2 25 | $42.4M | — | ||
| Q1 25 | $52.8M | — | ||
| Q4 24 | $64.4M | — | ||
| Q3 24 | $220.6M | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $134.2M | — |
| Q4 25 | $883.0K | $279.8M | ||
| Q3 25 | $586.0K | $281.1M | ||
| Q2 25 | $673.0K | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | $0 | $281.5M | ||
| Q3 24 | $128.4M | $282.8M | ||
| Q2 24 | $164.0M | $282.4M | ||
| Q1 24 | $183.7M | $282.8M |
| Q4 25 | $600.1M | $405.9M | ||
| Q3 25 | $607.2M | $408.4M | ||
| Q2 25 | $685.4M | $398.4M | ||
| Q1 25 | $665.2M | $381.1M | ||
| Q4 24 | $658.4M | $387.2M | ||
| Q3 24 | $707.0M | $416.6M | ||
| Q2 24 | $540.2M | $408.1M | ||
| Q1 24 | $510.9M | $391.8M |
| Q4 25 | $1.2B | $823.2M | ||
| Q3 25 | $1.2B | $844.4M | ||
| Q2 25 | $1.2B | $822.1M | ||
| Q1 25 | $1.2B | $824.6M | ||
| Q4 24 | $1.3B | $794.2M | ||
| Q3 24 | $1.4B | $853.4M | ||
| Q2 24 | $1.3B | $830.0M | ||
| Q1 24 | $1.3B | $808.6M |
| Q4 25 | 0.00× | 0.69× | ||
| Q3 25 | 0.00× | 0.69× | ||
| Q2 25 | 0.00× | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | 0.00× | 0.73× | ||
| Q3 24 | 0.18× | 0.68× | ||
| Q2 24 | 0.30× | 0.69× | ||
| Q1 24 | 0.36× | 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 | $-51.4M | $23.3M |
| Free Cash FlowOCF − Capex | $-52.2M | $14.1M |
| FCF MarginFCF / Revenue | -60.3% | 14.1% |
| Capex IntensityCapex / Revenue | 0.9% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $23.3M | ||
| Q3 25 | $-53.5M | $51.0M | ||
| Q2 25 | $-19.9M | $36.0M | ||
| Q1 25 | $-30.2M | $-46.9M | ||
| Q4 24 | $-50.7M | $6.2M | ||
| Q3 24 | $-4.9M | $37.2M | ||
| Q2 24 | $-30.2M | $52.4M | ||
| Q1 24 | $-15.5M | $-34.5M |
| Q4 25 | $-52.2M | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | $-20.0M | $29.1M | ||
| Q1 25 | $-31.0M | $-50.3M | ||
| Q4 24 | $-58.2M | $-98.0K | ||
| Q3 24 | $-9.4M | $33.2M | ||
| Q2 24 | $-31.2M | $47.9M | ||
| Q1 24 | $-15.7M | $-39.9M |
| Q4 25 | -60.3% | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | -37.6% | 16.8% | ||
| Q1 25 | -53.4% | -45.2% | ||
| Q4 24 | -125.7% | -0.1% | ||
| Q3 24 | -18.2% | 22.1% | ||
| Q2 24 | -63.2% | 29.9% | ||
| Q1 24 | -30.9% | -36.0% |
| Q4 25 | 0.9% | 9.2% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.0% | 4.0% | ||
| Q1 25 | 1.3% | 3.1% | ||
| Q4 24 | 16.3% | 7.2% | ||
| Q3 24 | 8.7% | 2.7% | ||
| Q2 24 | 2.2% | 2.8% | ||
| Q1 24 | 0.4% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | -15.80× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | -0.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
