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Side-by-side financial comparison of Aris Mining Corp (ARMN) and Rafael Holdings, Inc. (RFL). Click either name above to swap in a different company.

Rafael Holdings, Inc. is the larger business by last-quarter revenue ($240.0K vs $151.1K, roughly 1.6× Aris Mining Corp). Aris Mining Corp runs the higher net margin — 13.6% vs -4090.0%, a 4103.6% gap on every dollar of revenue.

Endeavour Mining plc is a multinational mining company that owns and operates gold mines in Côte d'Ivoire, Burkina Faso and Senegal. The company is headquartered in London, England, and is listed on the London Stock Exchange. It is a constituent of the FTSE 100 Index.

Rafael Advanced Defense Systems Ltd. is an Israeli defense technology company. It was founded as Israel's National R&D Defense Laboratory for the development of weapons and military technology within the Israeli Ministry of Defense; in 2002 it was incorporated as a limited company.

ARMN vs RFL — Head-to-Head

Bigger by revenue
RFL
RFL
1.6× larger
RFL
$240.0K
$151.1K
ARMN
Higher net margin
ARMN
ARMN
4103.6% more per $
ARMN
13.6%
-4090.0%
RFL

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
ARMN
ARMN
RFL
RFL
Revenue
$151.1K
$240.0K
Net Profit
$20.5K
$-9.8M
Gross Margin
44.9%
Operating Margin
30.0%
-4225.4%
Net Margin
13.6%
-4090.0%
Revenue YoY
87.5%
Net Profit YoY
-9.0%
EPS (diluted)
$0.02
$-0.19

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
ARMN
ARMN
RFL
RFL
Q4 25
$151.1K
$240.0K
Q3 24
$165.0K
Q2 24
$336.0K
Q1 24
$68.0K
Q4 23
$68.0K
Q3 23
$68.0K
Q2 23
$71.0K
Q1 23
$70.0K
Net Profit
ARMN
ARMN
RFL
RFL
Q4 25
$20.5K
$-9.8M
Q3 24
$-4.5M
Q2 24
$-32.4M
Q1 24
$6.0M
Q4 23
$-3.6M
Q3 23
$1.2M
Q2 23
$-1.4M
Q1 23
$-3.3M
Gross Margin
ARMN
ARMN
RFL
RFL
Q4 25
44.9%
Q3 24
Q2 24
74.7%
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
Operating Margin
ARMN
ARMN
RFL
RFL
Q4 25
30.0%
-4225.4%
Q3 24
-2330.3%
Q2 24
-27726.5%
Q1 24
-4622.1%
Q4 23
-3644.1%
Q3 23
-3839.7%
Q2 23
-4269.0%
Q1 23
-6084.3%
Net Margin
ARMN
ARMN
RFL
RFL
Q4 25
13.6%
-4090.0%
Q3 24
-2707.9%
Q2 24
-9628.3%
Q1 24
8892.6%
Q4 23
-5350.0%
Q3 23
1792.6%
Q2 23
-2023.9%
Q1 23
-4642.9%
EPS (diluted)
ARMN
ARMN
RFL
RFL
Q4 25
$0.02
$-0.19
Q3 24
$-0.19
Q2 24
$-1.36
Q1 24
$0.25
Q4 23
$-0.15
Q3 23
$0.05
Q2 23
$-0.06
Q1 23
$-0.14

Balance Sheet & Financial Strength

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

Metric
ARMN
ARMN
RFL
RFL
Cash + ST InvestmentsLiquidity on hand
$45.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$85.2M
Total Assets
$105.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARMN
ARMN
RFL
RFL
Q4 25
$45.5M
Q3 24
$2.7M
Q2 24
$7.4M
Q1 24
$7.1M
Q4 23
$13.2M
Q3 23
$21.5M
Q2 23
$15.4M
Q1 23
$9.7M
Stockholders' Equity
ARMN
ARMN
RFL
RFL
Q4 25
$85.2M
Q3 24
$82.2M
Q2 24
$86.1M
Q1 24
$104.9M
Q4 23
$98.2M
Q3 23
$100.3M
Q2 23
$98.5M
Q1 23
$100.1M
Total Assets
ARMN
ARMN
RFL
RFL
Q4 25
$105.4M
Q3 24
$96.8M
Q2 24
$101.6M
Q1 24
$106.1M
Q4 23
$95.5M
Q3 23
$98.8M
Q2 23
$96.4M
Q1 23
$98.5M

Cash Flow & Capital Efficiency

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

Metric
ARMN
ARMN
RFL
RFL
Operating Cash FlowLast quarter
$99.1K
$-6.8M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
4.82×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARMN
ARMN
RFL
RFL
Q4 25
$99.1K
$-6.8M
Q3 24
$-2.9M
Q2 24
$-251.0K
Q1 24
$-2.5M
Q4 23
$-2.1M
Q3 23
$-1.4M
Q2 23
$-1.3M
Q1 23
$-5.5M
Free Cash Flow
ARMN
ARMN
RFL
RFL
Q4 25
Q3 24
Q2 24
$-375.0K
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
FCF Margin
ARMN
ARMN
RFL
RFL
Q4 25
Q3 24
Q2 24
-111.6%
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
Capex Intensity
ARMN
ARMN
RFL
RFL
Q4 25
Q3 24
Q2 24
36.9%
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
Cash Conversion
ARMN
ARMN
RFL
RFL
Q4 25
4.82×
Q3 24
Q2 24
Q1 24
-0.42×
Q4 23
Q3 23
-1.19×
Q2 23
Q1 23

Financial Flow Comparison

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

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