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Side-by-side financial comparison of ALPHA PRO TECH LTD (APT) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $13.9M, roughly 1.1× ALPHA PRO TECH LTD). ALPHA PRO TECH LTD runs the higher net margin — 5.0% vs -2.0%, a 7.0% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs 0.3%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% CAGR vs 1.4%).
Alpha Pro Tech Ltd is a leading developer, manufacturer and marketer of disposable protective apparel, face masks, and building supply products including weather-resistant barriers. It primarily serves the healthcare, industrial, and construction sectors, with core operating markets concentrated in North America.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
APT vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $13.9M | $14.9M |
| Net Profit | $698.0K | $-296.0K |
| Gross Margin | 37.1% | 52.7% |
| Operating Margin | 6.9% | 29.0% |
| Net Margin | 5.0% | -2.0% |
| Revenue YoY | 0.3% | 13.2% |
| Net Profit YoY | -17.6% | — |
| EPS (diluted) | $0.06 | $-0.01 |
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 | — | $14.9M | ||
| Q4 25 | $13.9M | $14.8M | ||
| Q3 25 | $14.8M | $14.1M | ||
| Q2 25 | $16.7M | $13.2M | ||
| Q1 25 | $13.8M | $13.1M | ||
| Q4 24 | $13.8M | $13.2M | ||
| Q3 24 | $14.3M | $12.1M | ||
| Q2 24 | $16.3M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $698.0K | $1.2M | ||
| Q3 25 | $976.0K | $54.0K | ||
| Q2 25 | $1.2M | $-670.0K | ||
| Q1 25 | $613.0K | $-1.2M | ||
| Q4 24 | $847.0K | $1.2M | ||
| Q3 24 | $862.0K | $2.3M | ||
| Q2 24 | $1.6M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 37.1% | 50.8% | ||
| Q3 25 | 39.7% | 51.3% | ||
| Q2 25 | 36.8% | 51.3% | ||
| Q1 25 | 39.0% | 51.4% | ||
| Q4 24 | 37.6% | 51.3% | ||
| Q3 24 | 38.5% | 49.2% | ||
| Q2 24 | 42.0% | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | 6.9% | -7.2% | ||
| Q3 25 | 7.4% | -11.0% | ||
| Q2 25 | 8.0% | -14.9% | ||
| Q1 25 | 3.3% | -14.7% | ||
| Q4 24 | 4.9% | -11.8% | ||
| Q3 24 | 5.2% | -17.5% | ||
| Q2 24 | 10.5% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 5.0% | 8.1% | ||
| Q3 25 | 6.6% | 0.4% | ||
| Q2 25 | 7.5% | -5.1% | ||
| Q1 25 | 4.4% | -8.9% | ||
| Q4 24 | 6.1% | 9.2% | ||
| Q3 24 | 6.0% | 18.8% | ||
| Q2 24 | 10.1% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.06 | $0.05 | ||
| Q3 25 | $0.09 | $0.00 | ||
| Q2 25 | $0.12 | $-0.03 | ||
| Q1 25 | $0.06 | $-0.05 | ||
| Q4 24 | $0.07 | $0.07 | ||
| Q3 24 | $0.08 | $0.10 | ||
| Q2 24 | $0.15 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $17.0M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $70.2M |
| Total Assets | $74.1M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $17.0M | $44.5M | ||
| Q3 25 | $17.7M | $45.3M | ||
| Q2 25 | $14.5M | $45.0M | ||
| Q1 25 | $13.4M | $42.2M | ||
| Q4 24 | $18.6M | $42.1M | ||
| Q3 24 | $18.4M | $39.6M | ||
| Q2 24 | $16.2M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $62.5M | $68.9M | ||
| Q3 25 | $62.5M | $65.8M | ||
| Q2 25 | $62.2M | $64.1M | ||
| Q1 25 | $61.7M | $63.0M | ||
| Q4 24 | $62.2M | $62.6M | ||
| Q3 24 | $62.1M | $59.3M | ||
| Q2 24 | $62.0M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $74.1M | $84.6M | ||
| Q3 25 | $73.9M | $80.3M | ||
| Q2 25 | $73.2M | $78.9M | ||
| Q1 25 | $72.2M | $80.2M | ||
| Q4 24 | $73.7M | $77.8M | ||
| Q3 24 | $73.3M | $72.6M | ||
| Q2 24 | $72.7M | $64.6M |
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 | $318.0K | $570.0K |
| Free Cash FlowOCF − Capex | $51.0K | — |
| FCF MarginFCF / Revenue | 0.4% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 0.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $318.0K | $2.6M | ||
| Q3 25 | $3.9M | $881.0K | ||
| Q2 25 | $2.1M | $5.0M | ||
| Q1 25 | $-4.0M | $1.4M | ||
| Q4 24 | $2.4M | $3.8M | ||
| Q3 24 | $5.3M | $2.8M | ||
| Q2 24 | $-873.0K | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $51.0K | $-975.0K | ||
| Q3 25 | $3.8M | $543.0K | ||
| Q2 25 | $1.9M | $3.0M | ||
| Q1 25 | $-4.1M | $527.0K | ||
| Q4 24 | $970.0K | $2.1M | ||
| Q3 24 | $3.2M | $2.8M | ||
| Q2 24 | $-1.0M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | -6.6% | ||
| Q3 25 | 25.9% | 3.9% | ||
| Q2 25 | 11.7% | 22.9% | ||
| Q1 25 | -29.6% | 4.0% | ||
| Q4 24 | 7.0% | 15.8% | ||
| Q3 24 | 22.3% | 22.9% | ||
| Q2 24 | -6.2% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 24.3% | ||
| Q3 25 | 0.7% | 2.4% | ||
| Q2 25 | 0.8% | 15.1% | ||
| Q1 25 | 1.0% | 6.9% | ||
| Q4 24 | 10.4% | 13.2% | ||
| Q3 24 | 15.1% | 0.5% | ||
| Q2 24 | 0.8% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.46× | 2.19× | ||
| Q3 25 | 4.02× | 16.31× | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | -6.46× | — | ||
| Q4 24 | 2.85× | 3.16× | ||
| Q3 24 | 6.18× | 1.25× | ||
| Q2 24 | -0.53× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APT
| Other | $7.3M | 53% |
| Disposable Protective Apparel | $6.6M | 47% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
