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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Caledonia Mining Corp Plc (CMCL). Click either name above to swap in a different company.

Apollo Commercial Real Estate Finance, Inc. is the larger business by last-quarter revenue ($73.3M vs $46.9M, roughly 1.6× Caledonia Mining Corp Plc). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs 7.0%, a 32.9% gap on every dollar of revenue. On growth, Caledonia Mining Corp Plc posted the faster year-over-year revenue change (13.8% vs 4.0%). Over the past eight quarters, Caledonia Mining Corp Plc's revenue compounded faster (17.1% CAGR vs -4.6%).

Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.

Hochschild Mining plc is a leading British-based silver and gold mining business operating in North, Central, and South America. It is headquartered in Lima, Peru, with a corporate office in London, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The main shareholder is the Peruvian businessman Eduardo Hochschild.

ARI vs CMCL — Head-to-Head

Bigger by revenue
ARI
ARI
1.6× larger
ARI
$73.3M
$46.9M
CMCL
Growing faster (revenue YoY)
CMCL
CMCL
+9.8% gap
CMCL
13.8%
4.0%
ARI
Higher net margin
ARI
ARI
32.9% more per $
ARI
39.9%
7.0%
CMCL
Faster 2-yr revenue CAGR
CMCL
CMCL
Annualised
CMCL
17.1%
-4.6%
ARI

Income Statement — Q4 FY2025 vs Q3 FY2024

Metric
ARI
ARI
CMCL
CMCL
Revenue
$73.3M
$46.9M
Net Profit
$29.2M
$3.3M
Gross Margin
41.2%
Operating Margin
39.7%
18.6%
Net Margin
39.9%
7.0%
Revenue YoY
4.0%
13.8%
Net Profit YoY
-28.2%
-33.3%
EPS (diluted)
$0.19
$0.13

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
ARI
ARI
CMCL
CMCL
Q4 25
$73.3M
Q3 25
$61.6M
Q2 25
$70.9M
Q1 25
$65.8M
Q4 24
$70.5M
Q3 24
$71.6M
$46.9M
Q2 24
$81.1M
$50.1M
Q1 24
$80.5M
$38.5M
Net Profit
ARI
ARI
CMCL
CMCL
Q4 25
$29.2M
Q3 25
$50.8M
Q2 25
$20.7M
Q1 25
$26.0M
Q4 24
$40.7M
Q3 24
$-91.5M
$3.3M
Q2 24
$35.8M
$10.2M
Q1 24
$-104.5M
$2.1M
Gross Margin
ARI
ARI
CMCL
CMCL
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
41.2%
Q2 24
45.8%
Q1 24
35.9%
Operating Margin
ARI
ARI
CMCL
CMCL
Q4 25
39.7%
Q3 25
82.8%
Q2 25
29.4%
Q1 25
39.7%
Q4 24
57.9%
Q3 24
-127.8%
18.6%
Q2 24
44.2%
32.2%
Q1 24
-129.6%
13.8%
Net Margin
ARI
ARI
CMCL
CMCL
Q4 25
39.9%
Q3 25
82.4%
Q2 25
29.3%
Q1 25
39.5%
Q4 24
57.7%
Q3 24
-127.9%
7.0%
Q2 24
44.1%
20.3%
Q1 24
-129.8%
5.4%
EPS (diluted)
ARI
ARI
CMCL
CMCL
Q4 25
$0.19
Q3 25
$0.34
Q2 25
$0.12
Q1 25
$0.16
Q4 24
$0.25
Q3 24
$-0.69
$0.13
Q2 24
$0.23
$0.42
Q1 24
$-0.76
$0.07

Balance Sheet & Financial Strength

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

Metric
ARI
ARI
CMCL
CMCL
Cash + ST InvestmentsLiquidity on hand
$139.8M
$7.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.9B
$231.0M
Total Assets
$9.9B
$339.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARI
ARI
CMCL
CMCL
Q4 25
$139.8M
Q3 25
$245.9M
Q2 25
$177.6M
Q1 25
$166.4M
Q4 24
$317.4M
Q3 24
$194.3M
$7.2M
Q2 24
$174.7M
$15.4M
Q1 24
$161.2M
$1.8M
Stockholders' Equity
ARI
ARI
CMCL
CMCL
Q4 25
$1.9B
Q3 25
$1.9B
Q2 25
$1.8B
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.9B
$231.0M
Q2 24
$2.0B
$231.1M
Q1 24
$2.0B
$220.3M
Total Assets
ARI
ARI
CMCL
CMCL
Q4 25
$9.9B
Q3 25
$9.5B
Q2 25
$9.8B
Q1 25
$8.8B
Q4 24
$8.4B
Q3 24
$9.1B
$339.7M
Q2 24
$9.3B
$338.5M
Q1 24
$9.2B
$321.8M

Cash Flow & Capital Efficiency

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

Metric
ARI
ARI
CMCL
CMCL
Operating Cash FlowLast quarter
$142.5M
$4.6M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
4.88×
1.40×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARI
ARI
CMCL
CMCL
Q4 25
$142.5M
Q3 25
$31.7M
Q2 25
$63.2M
Q1 25
$39.3M
Q4 24
$200.3M
Q3 24
$47.2M
$4.6M
Q2 24
$50.2M
$19.1M
Q1 24
$52.8M
Cash Conversion
ARI
ARI
CMCL
CMCL
Q4 25
4.88×
Q3 25
0.62×
Q2 25
3.05×
Q1 25
1.51×
Q4 24
4.93×
Q3 24
1.40×
Q2 24
1.40×
1.87×
Q1 24

Financial Flow Comparison

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

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