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Side-by-side financial comparison of Apyx Medical Corp (APYX) and AVALON HOLDINGS CORP (AWX). Click either name above to swap in a different company.

AVALON HOLDINGS CORP is the larger business by last-quarter revenue ($21.5M vs $19.2M, roughly 1.1× Apyx Medical Corp). AVALON HOLDINGS CORP runs the higher net margin — -1.7% vs -6.8%, a 5.1% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs 21.7%). AVALON HOLDINGS CORP produced more free cash flow last quarter ($-166.0K vs $-2.8M). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs 6.7%).

Bovie Medical Corporation was an American medical device manufacturer of medical devices, electrosurgical products and energy technologies. It was based in Clearwater, Florida with a manufacturing facility in Bulgaria.

Avalon Hill Games Inc. is a game company that publishes wargames and strategic board games. It has also published miniature wargaming rules, role-playing games and sports simulations. It is a subsidiary of Hasbro, and operates under the company's "Hasbro Gaming" division.

APYX vs AWX — Head-to-Head

Bigger by revenue
AWX
AWX
1.1× larger
AWX
$21.5M
$19.2M
APYX
Growing faster (revenue YoY)
APYX
APYX
+13.0% gap
APYX
34.7%
21.7%
AWX
Higher net margin
AWX
AWX
5.1% more per $
AWX
-1.7%
-6.8%
APYX
More free cash flow
AWX
AWX
$2.6M more FCF
AWX
$-166.0K
$-2.8M
APYX
Faster 2-yr revenue CAGR
APYX
APYX
Annualised
APYX
36.8%
6.7%
AWX

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
APYX
APYX
AWX
AWX
Revenue
$19.2M
$21.5M
Net Profit
$-1.3M
$-356.0K
Gross Margin
62.6%
17.1%
Operating Margin
0.1%
0.4%
Net Margin
-6.8%
-1.7%
Revenue YoY
34.7%
21.7%
Net Profit YoY
71.9%
28.4%
EPS (diluted)

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.

Revenue
APYX
APYX
AWX
AWX
Q4 25
$19.2M
$21.5M
Q3 25
$12.9M
$25.7M
Q2 25
$11.4M
$20.3M
Q1 25
$9.4M
$16.1M
Q4 24
$14.2M
$17.6M
Q3 24
$11.5M
$24.2M
Q2 24
$12.1M
$23.1M
Q1 24
$10.2M
$18.9M
Net Profit
APYX
APYX
AWX
AWX
Q4 25
$-1.3M
$-356.0K
Q3 25
$-2.0M
$1.9M
Q2 25
$-3.8M
$274.0K
Q1 25
$-4.2M
$-1.5M
Q4 24
$-4.6M
$-497.0K
Q3 24
$-4.7M
$1.8M
Q2 24
$-6.6M
$954.0K
Q1 24
$-7.6M
$-979.0K
Gross Margin
APYX
APYX
AWX
AWX
Q4 25
62.6%
17.1%
Q3 25
64.4%
23.7%
Q2 25
62.3%
20.6%
Q1 25
60.1%
14.8%
Q4 24
63.0%
17.5%
Q3 24
60.5%
24.6%
Q2 24
61.7%
22.1%
Q1 24
58.1%
16.2%
Operating Margin
APYX
APYX
AWX
AWX
Q4 25
0.1%
0.4%
Q3 25
-6.5%
9.1%
Q2 25
-22.6%
3.7%
Q1 25
-32.4%
-7.2%
Q4 24
-21.4%
-0.8%
Q3 24
-31.6%
9.4%
Q2 24
-45.7%
6.3%
Q1 24
-64.6%
-2.7%
Net Margin
APYX
APYX
AWX
AWX
Q4 25
-6.8%
-1.7%
Q3 25
-15.4%
7.4%
Q2 25
-33.2%
1.4%
Q1 25
-44.0%
-9.3%
Q4 24
-32.5%
-2.8%
Q3 24
-40.9%
7.6%
Q2 24
-54.0%
4.1%
Q1 24
-74.0%
-5.2%
EPS (diluted)
APYX
APYX
AWX
AWX
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
$-0.19
Q1 24
$-0.22

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
APYX
APYX
AWX
AWX
Cash + ST InvestmentsLiquidity on hand
$31.7M
$4.1M
Total DebtLower is stronger
$37.5M
Stockholders' EquityBook value
$14.5M
$38.4M
Total Assets
$66.8M
$87.4M
Debt / EquityLower = less leverage
2.58×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
APYX
APYX
AWX
AWX
Q4 25
$31.7M
$4.1M
Q3 25
$25.1M
$4.6M
Q2 25
$29.3M
$3.7M
Q1 25
$31.0M
$1.3M
Q4 24
$31.7M
$2.8M
Q3 24
$28.0M
$3.9M
Q2 24
$32.7M
$3.8M
Q1 24
$37.3M
$1.2M
Total Debt
APYX
APYX
AWX
AWX
Q4 25
$37.5M
Q3 25
$37.5M
Q2 25
$37.5M
Q1 25
$37.5M
Q4 24
$37.5M
Q3 24
$37.5M
Q2 24
Q1 24
Stockholders' Equity
APYX
APYX
AWX
AWX
Q4 25
$14.5M
$38.4M
Q3 25
$5.8M
$38.7M
Q2 25
$7.3M
$36.8M
Q1 25
$10.5M
$36.5M
Q4 24
$14.2M
$38.0M
Q3 24
$11.0M
$38.5M
Q2 24
$14.7M
$36.7M
Q1 24
$20.3M
$35.7M
Total Assets
APYX
APYX
AWX
AWX
Q4 25
$66.8M
$87.4M
Q3 25
$57.4M
$90.7M
Q2 25
$58.2M
$88.1M
Q1 25
$60.2M
$87.6M
Q4 24
$64.8M
$86.2M
Q3 24
$60.7M
$89.1M
Q2 24
$65.4M
$91.7M
Q1 24
$70.7M
$90.6M
Debt / Equity
APYX
APYX
AWX
AWX
Q4 25
2.58×
Q3 25
6.41×
Q2 25
5.17×
Q1 25
3.57×
Q4 24
2.64×
Q3 24
3.40×
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
APYX
APYX
AWX
AWX
Operating Cash FlowLast quarter
$-2.5M
$278.0K
Free Cash FlowOCF − Capex
$-2.8M
$-166.0K
FCF MarginFCF / Revenue
-14.6%
-0.8%
Capex IntensityCapex / Revenue
1.4%
2.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-9.1M
$2.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
APYX
APYX
AWX
AWX
Q4 25
$-2.5M
$278.0K
Q3 25
$-3.5M
$1.5M
Q2 25
$-1.2M
$3.0M
Q1 25
$-702.0K
$-982.0K
Q4 24
$-2.9M
$-579.0K
Q3 24
$-4.4M
$342.0K
Q2 24
$-4.3M
$3.2M
Q1 24
$-6.3M
$411.0K
Free Cash Flow
APYX
APYX
AWX
AWX
Q4 25
$-2.8M
$-166.0K
Q3 25
$-4.1M
$852.0K
Q2 25
$-1.5M
$2.7M
Q1 25
$-757.0K
$-1.4M
Q4 24
$-3.2M
$-1.1M
Q3 24
$-4.6M
$-660.0K
Q2 24
$-4.6M
$2.9M
Q1 24
$-6.4M
$56.0K
FCF Margin
APYX
APYX
AWX
AWX
Q4 25
-14.6%
-0.8%
Q3 25
-31.5%
3.3%
Q2 25
-13.2%
13.5%
Q1 25
-8.0%
-8.5%
Q4 24
-22.4%
-6.4%
Q3 24
-40.0%
-2.7%
Q2 24
-38.0%
12.4%
Q1 24
-62.2%
0.3%
Capex Intensity
APYX
APYX
AWX
AWX
Q4 25
1.4%
2.1%
Q3 25
4.0%
2.3%
Q2 25
2.3%
1.4%
Q1 25
0.6%
2.4%
Q4 24
1.7%
3.1%
Q3 24
1.3%
4.1%
Q2 24
2.4%
1.5%
Q1 24
0.3%
1.9%
Cash Conversion
APYX
APYX
AWX
AWX
Q4 25
Q3 25
0.76×
Q2 25
11.07×
Q1 25
Q4 24
Q3 24
0.19×
Q2 24
3.35×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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