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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and STEM, INC. (STEM). 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 $47.1M, roughly 1.6× STEM, INC.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -33.9%, a 73.8% gap on every dollar of revenue. On growth, Apollo Commercial Real Estate Finance, Inc. posted the faster year-over-year revenue change (4.0% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
ARI vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $47.1M |
| Net Profit | $29.2M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 39.7% | -17.7% |
| Net Margin | 39.9% | -33.9% |
| Revenue YoY | 4.0% | -15.6% |
| Net Profit YoY | -28.2% | 68.8% |
| EPS (diluted) | $0.19 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $61.6M | $38.2M | ||
| Q2 25 | $70.9M | $38.4M | ||
| Q1 25 | $65.8M | $32.5M | ||
| Q4 24 | $70.5M | $55.8M | ||
| Q3 24 | $71.6M | $29.3M | ||
| Q2 24 | $81.1M | $34.0M | ||
| Q1 24 | $80.5M | $25.5M |
| Q4 25 | $29.2M | $-16.0M | ||
| Q3 25 | $50.8M | $-23.8M | ||
| Q2 25 | $20.7M | $202.5M | ||
| Q1 25 | $26.0M | $-25.0M | ||
| Q4 24 | $40.7M | $-51.1M | ||
| Q3 24 | $-91.5M | $-148.3M | ||
| Q2 24 | $35.8M | $-582.3M | ||
| Q1 24 | $-104.5M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | 39.7% | -17.7% | ||
| Q3 25 | 82.8% | -33.6% | ||
| Q2 25 | 29.4% | -34.8% | ||
| Q1 25 | 39.7% | -65.0% | ||
| Q4 24 | 57.9% | -84.4% | ||
| Q3 24 | -127.8% | -493.2% | ||
| Q2 24 | 44.2% | -1705.5% | ||
| Q1 24 | -129.6% | -267.0% |
| Q4 25 | 39.9% | -33.9% | ||
| Q3 25 | 82.4% | -62.2% | ||
| Q2 25 | 29.3% | 527.8% | ||
| Q1 25 | 39.5% | -76.9% | ||
| Q4 24 | 57.7% | -91.6% | ||
| Q3 24 | -127.9% | -506.3% | ||
| Q2 24 | 44.1% | -1712.6% | ||
| Q1 24 | -129.8% | -283.9% |
| Q4 25 | $0.19 | $-4.40 | ||
| Q3 25 | $0.34 | $-2.84 | ||
| Q2 25 | $0.12 | $-1.79 | ||
| Q1 25 | $0.16 | $-0.15 | ||
| Q4 24 | $0.25 | $-15.29 | ||
| Q3 24 | $-0.69 | $-18.24 | ||
| Q2 24 | $0.23 | $-71.81 | ||
| Q1 24 | $-0.76 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $-249.4M |
| Total Assets | $9.9B | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $48.9M | ||
| Q3 25 | $245.9M | $43.1M | ||
| Q2 25 | $177.6M | $40.8M | ||
| Q1 25 | $166.4M | $58.6M | ||
| Q4 24 | $317.4M | $56.3M | ||
| Q3 24 | $194.3M | $75.4M | ||
| Q2 24 | $174.7M | $89.6M | ||
| Q1 24 | $161.2M | $112.8M |
| Q4 25 | $1.9B | $-249.4M | ||
| Q3 25 | $1.9B | $-235.7M | ||
| Q2 25 | $1.8B | $-214.1M | ||
| Q1 25 | $1.9B | $-417.5M | ||
| Q4 24 | $1.9B | $-398.4M | ||
| Q3 24 | $1.9B | $-344.1M | ||
| Q2 24 | $2.0B | $-203.2M | ||
| Q1 24 | $2.0B | $371.6M |
| Q4 25 | $9.9B | $308.9M | ||
| Q3 25 | $9.5B | $362.6M | ||
| Q2 25 | $9.8B | $379.2M | ||
| Q1 25 | $8.8B | $405.1M | ||
| Q4 24 | $8.4B | $437.4M | ||
| Q3 24 | $9.1B | $537.8M | ||
| Q2 24 | $9.3B | $691.5M | ||
| Q1 24 | $9.2B | $1.3B |
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 | $8.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $8.2M | ||
| Q3 25 | $31.7M | $11.4M | ||
| Q2 25 | $63.2M | $-21.3M | ||
| Q1 25 | $39.3M | $8.5M | ||
| Q4 24 | $200.3M | $-14.7M | ||
| Q3 24 | $47.2M | $-9.4M | ||
| Q2 24 | $50.2M | $-11.9M | ||
| Q1 24 | $52.8M | $-621.0K |
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | -0.11× | ||
| 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.
