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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and SOLENO THERAPEUTICS INC (SLNO). 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 $66.0M, roughly 1.1× SOLENO THERAPEUTICS INC). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs 39.4%, a 0.5% gap on every dollar of revenue.

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.

SOLENO THERAPEUTICS INC is a clinical-stage biopharmaceutical company specializing in developing novel therapies for rare endocrine, metabolic, and neurodevelopmental disorders. Its lead product candidate targets Prader-Willi syndrome, a rare genetic condition, with key patient markets across North America and the European Union.

ARI vs SLNO — Head-to-Head

Bigger by revenue
ARI
ARI
1.1× larger
ARI
$73.3M
$66.0M
SLNO
Higher net margin
ARI
ARI
0.5% more per $
ARI
39.9%
39.4%
SLNO

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
ARI
ARI
SLNO
SLNO
Revenue
$73.3M
$66.0M
Net Profit
$29.2M
$26.0M
Gross Margin
98.3%
Operating Margin
39.7%
33.5%
Net Margin
39.9%
39.4%
Revenue YoY
4.0%
Net Profit YoY
-28.2%
134.0%
EPS (diluted)
$0.19
$0.47

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
SLNO
SLNO
Q4 25
$73.3M
Q3 25
$61.6M
$66.0M
Q2 25
$70.9M
$32.7M
Q1 25
$65.8M
Q4 24
$70.5M
Q3 24
$71.6M
Q2 24
$81.1M
Q1 24
$80.5M
Net Profit
ARI
ARI
SLNO
SLNO
Q4 25
$29.2M
Q3 25
$50.8M
$26.0M
Q2 25
$20.7M
$-4.7M
Q1 25
$26.0M
Q4 24
$40.7M
Q3 24
$-91.5M
Q2 24
$35.8M
Q1 24
$-104.5M
Gross Margin
ARI
ARI
SLNO
SLNO
Q4 25
Q3 25
98.3%
Q2 25
97.9%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
ARI
ARI
SLNO
SLNO
Q4 25
39.7%
Q3 25
82.8%
33.5%
Q2 25
29.4%
-20.0%
Q1 25
39.7%
Q4 24
57.9%
Q3 24
-127.8%
Q2 24
44.2%
Q1 24
-129.6%
Net Margin
ARI
ARI
SLNO
SLNO
Q4 25
39.9%
Q3 25
82.4%
39.4%
Q2 25
29.3%
-14.4%
Q1 25
39.5%
Q4 24
57.7%
Q3 24
-127.9%
Q2 24
44.1%
Q1 24
-129.8%
EPS (diluted)
ARI
ARI
SLNO
SLNO
Q4 25
$0.19
Q3 25
$0.34
$0.47
Q2 25
$0.12
$-0.09
Q1 25
$0.16
Q4 24
$0.25
Q3 24
$-0.69
Q2 24
$0.23
Q1 24
$-0.76

Balance Sheet & Financial Strength

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

Metric
ARI
ARI
SLNO
SLNO
Cash + ST InvestmentsLiquidity on hand
$139.8M
$498.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.9B
$494.8M
Total Assets
$9.9B
$599.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARI
ARI
SLNO
SLNO
Q4 25
$139.8M
Q3 25
$245.9M
$498.9M
Q2 25
$177.6M
$286.8M
Q1 25
$166.4M
Q4 24
$317.4M
Q3 24
$194.3M
Q2 24
$174.7M
Q1 24
$161.2M
Stockholders' Equity
ARI
ARI
SLNO
SLNO
Q4 25
$1.9B
Q3 25
$1.9B
$494.8M
Q2 25
$1.8B
$240.1M
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.9B
Q2 24
$2.0B
Q1 24
$2.0B
Total Assets
ARI
ARI
SLNO
SLNO
Q4 25
$9.9B
Q3 25
$9.5B
$599.9M
Q2 25
$9.8B
$332.3M
Q1 25
$8.8B
Q4 24
$8.4B
Q3 24
$9.1B
Q2 24
$9.3B
Q1 24
$9.2B

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
SLNO
SLNO
Operating Cash FlowLast quarter
$142.5M
$43.5M
Free Cash FlowOCF − Capex
$43.5M
FCF MarginFCF / Revenue
65.8%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
4.88×
1.67×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARI
ARI
SLNO
SLNO
Q4 25
$142.5M
Q3 25
$31.7M
$43.5M
Q2 25
$63.2M
$-12.6M
Q1 25
$39.3M
Q4 24
$200.3M
Q3 24
$47.2M
Q2 24
$50.2M
Q1 24
$52.8M
Free Cash Flow
ARI
ARI
SLNO
SLNO
Q4 25
Q3 25
$43.5M
Q2 25
$-12.6M
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
ARI
ARI
SLNO
SLNO
Q4 25
Q3 25
65.8%
Q2 25
-38.6%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
ARI
ARI
SLNO
SLNO
Q4 25
Q3 25
0.0%
Q2 25
0.0%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Cash Conversion
ARI
ARI
SLNO
SLNO
Q4 25
4.88×
Q3 25
0.62×
1.67×
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.

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