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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
4D Molecular Therapeutics, Inc. is the larger business by last-quarter revenue ($85.1M vs $73.3M, roughly 1.2× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs 22.8%, a 17.1% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 4.0%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% 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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
ARI vs FDMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $85.1M |
| Net Profit | $29.2M | $19.4M |
| Gross Margin | — | — |
| Operating Margin | 39.7% | 17.3% |
| Net Margin | 39.9% | 22.8% |
| Revenue YoY | 4.0% | 8508900.0% |
| Net Profit YoY | -28.2% | 139.1% |
| EPS (diluted) | $0.19 | $0.43 |
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 | $73.3M | $85.1M | ||
| Q3 25 | $61.6M | $90.0K | ||
| Q2 25 | $70.9M | $15.0K | ||
| Q1 25 | $65.8M | $14.0K | ||
| Q4 24 | $70.5M | $1.0K | ||
| Q3 24 | $71.6M | $3.0K | ||
| Q2 24 | $81.1M | $5.0K | ||
| Q1 24 | $80.5M | $28.0K |
| Q4 25 | $29.2M | $19.4M | ||
| Q3 25 | $50.8M | $-56.9M | ||
| Q2 25 | $20.7M | $-54.7M | ||
| Q1 25 | $26.0M | $-48.0M | ||
| Q4 24 | $40.7M | — | ||
| Q3 24 | $-91.5M | $-43.8M | ||
| Q2 24 | $35.8M | $-35.0M | ||
| Q1 24 | $-104.5M | $-32.4M |
| Q4 25 | 39.7% | 17.3% | ||
| Q3 25 | 82.8% | -67983.3% | ||
| Q2 25 | 29.4% | -396373.3% | ||
| Q1 25 | 39.7% | -383007.1% | ||
| Q4 24 | 57.9% | — | ||
| Q3 24 | -127.8% | -1704400.0% | ||
| Q2 24 | 44.2% | -849120.0% | ||
| Q1 24 | -129.6% | -136200.0% |
| Q4 25 | 39.9% | 22.8% | ||
| Q3 25 | 82.4% | -63195.6% | ||
| Q2 25 | 29.3% | -364386.7% | ||
| Q1 25 | 39.5% | -342657.1% | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -127.9% | -1461433.3% | ||
| Q2 24 | 44.1% | -699060.0% | ||
| Q1 24 | -129.8% | -115717.9% |
| Q4 25 | $0.19 | $0.43 | ||
| Q3 25 | $0.34 | $-1.01 | ||
| Q2 25 | $0.12 | $-0.98 | ||
| Q1 25 | $0.16 | $-0.86 | ||
| Q4 24 | $0.25 | — | ||
| Q3 24 | $-0.69 | $-0.79 | ||
| Q2 24 | $0.23 | $-0.63 | ||
| Q1 24 | $-0.76 | $-0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $402.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $505.7M |
| Total Assets | $9.9B | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $402.7M | ||
| Q3 25 | $245.9M | $305.1M | ||
| Q2 25 | $177.6M | $293.2M | ||
| Q1 25 | $166.4M | $321.4M | ||
| Q4 24 | $317.4M | $424.9M | ||
| Q3 24 | $194.3M | $501.9M | ||
| Q2 24 | $174.7M | $541.9M | ||
| Q1 24 | $161.2M | $525.9M |
| Q4 25 | $1.9B | $505.7M | ||
| Q3 25 | $1.9B | $369.0M | ||
| Q2 25 | $1.8B | $420.9M | ||
| Q1 25 | $1.9B | $469.7M | ||
| Q4 24 | $1.9B | $510.6M | ||
| Q3 24 | $1.9B | $552.9M | ||
| Q2 24 | $2.0B | $588.3M | ||
| Q1 24 | $2.0B | $600.6M |
| Q4 25 | $9.9B | $566.7M | ||
| Q3 25 | $9.5B | $424.0M | ||
| Q2 25 | $9.8B | $473.6M | ||
| Q1 25 | $8.8B | $515.7M | ||
| Q4 24 | $8.4B | $560.4M | ||
| Q3 24 | $9.1B | $604.0M | ||
| Q2 24 | $9.3B | $620.1M | ||
| Q1 24 | $9.2B | $629.9M |
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 | $142.5M | $28.6M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 33.5% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 4.88× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $28.6M | ||
| Q3 25 | $31.7M | $-46.5M | ||
| Q2 25 | $63.2M | $-43.4M | ||
| Q1 25 | $39.3M | $-47.8M | ||
| Q4 24 | $200.3M | $-134.6M | ||
| Q3 24 | $47.2M | $-29.4M | ||
| Q2 24 | $50.2M | $-30.2M | ||
| Q1 24 | $52.8M | $-29.1M |
| Q4 25 | — | $28.5M | ||
| Q3 25 | — | $-46.6M | ||
| Q2 25 | — | $-43.4M | ||
| Q1 25 | — | $-48.4M | ||
| Q4 24 | — | $-138.4M | ||
| Q3 24 | — | $-31.2M | ||
| Q2 24 | — | $-30.6M | ||
| Q1 24 | — | $-29.8M |
| Q4 25 | — | 33.5% | ||
| Q3 25 | — | -51765.6% | ||
| Q2 25 | — | -289620.0% | ||
| Q1 25 | — | -345635.7% | ||
| Q4 24 | — | -13837100.0% | ||
| Q3 24 | — | -1038966.7% | ||
| Q2 24 | — | -611840.0% | ||
| Q1 24 | — | -106421.4% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 101.1% | ||
| Q2 25 | — | 440.0% | ||
| Q1 25 | — | 4507.1% | ||
| Q4 24 | — | 378600.0% | ||
| Q3 24 | — | 59266.7% | ||
| Q2 24 | — | 6980.0% | ||
| Q1 24 | — | 2535.7% |
| Q4 25 | 4.88× | 1.47× | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
