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Side-by-side financial comparison of ARROW FINANCIAL CORP (AROW) and ESTABLISHMENT LABS HOLDINGS INC. (ESTA). Click either name above to swap in a different company.

ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $35.0M, roughly 1.8× ARROW FINANCIAL CORP). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 7.1%). ARROW FINANCIAL CORP produced more free cash flow last quarter ($7.5M vs $-2.0M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 6.4%).

Flagstar Bank, N.A. (FLG), is an American regional financial services holding company headquartered in Hicksville, New York. In 2023, the bank operated 395 branches However, they rebranded all of these under the Flagstar name on February 21, 2024.

Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.

AROW vs ESTA — Head-to-Head

Bigger by revenue
ESTA
ESTA
1.8× larger
ESTA
$64.6M
$35.0M
AROW
Growing faster (revenue YoY)
ESTA
ESTA
+38.0% gap
ESTA
45.2%
7.1%
AROW
More free cash flow
AROW
AROW
$9.5M more FCF
AROW
$7.5M
$-2.0M
ESTA
Faster 2-yr revenue CAGR
ESTA
ESTA
Annualised
ESTA
31.9%
6.4%
AROW

Income Statement — Q2 FY2024 vs Q4 FY2025

Metric
AROW
AROW
ESTA
ESTA
Revenue
$35.0M
$64.6M
Net Profit
$8.6M
Gross Margin
70.5%
Operating Margin
-6.1%
Net Margin
24.6%
Revenue YoY
7.1%
45.2%
Net Profit YoY
42.3%
EPS (diluted)
$0.52
$-0.07

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
AROW
AROW
ESTA
ESTA
Q4 25
$64.6M
Q3 25
$53.8M
Q2 25
$51.3M
Q1 25
$41.4M
Q4 24
$44.5M
Q3 24
$40.2M
Q2 24
$35.0M
$44.1M
Q1 24
$34.3M
$37.2M
Net Profit
AROW
AROW
ESTA
ESTA
Q4 25
Q3 25
$-11.1M
Q2 25
$-16.6M
Q1 25
$-20.7M
Q4 24
Q3 24
$-16.7M
Q2 24
$8.6M
$-17.2M
Q1 24
$7.7M
$-16.2M
Gross Margin
AROW
AROW
ESTA
ESTA
Q4 25
70.5%
Q3 25
70.1%
Q2 25
68.8%
Q1 25
67.2%
Q4 24
68.5%
Q3 24
63.9%
Q2 24
65.6%
Q1 24
65.6%
Operating Margin
AROW
AROW
ESTA
ESTA
Q4 25
-6.1%
Q3 25
-7.5%
Q2 25
-27.5%
Q1 25
-41.0%
Q4 24
-41.9%
Q3 24
-32.7%
Q2 24
-21.2%
Q1 24
-23.8%
Net Margin
AROW
AROW
ESTA
ESTA
Q4 25
Q3 25
-20.7%
Q2 25
-32.3%
Q1 25
-50.1%
Q4 24
Q3 24
-41.5%
Q2 24
24.6%
-38.9%
Q1 24
22.3%
-43.6%
EPS (diluted)
AROW
AROW
ESTA
ESTA
Q4 25
$-0.07
Q3 25
$-0.38
Q2 25
$-0.57
Q1 25
$-0.70
Q4 24
$-1.21
Q3 24
$-0.59
Q2 24
$0.52
$-0.62
Q1 24
$0.45
$-0.58

Balance Sheet & Financial Strength

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

Metric
AROW
AROW
ESTA
ESTA
Cash + ST InvestmentsLiquidity on hand
$75.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$383.0M
$23.5M
Total Assets
$4.2B
$357.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AROW
AROW
ESTA
ESTA
Q4 25
$75.6M
Q3 25
$70.6M
Q2 25
$54.6M
Q1 25
$69.2M
Q4 24
$90.3M
Q3 24
Q2 24
Q1 24
Total Debt
AROW
AROW
ESTA
ESTA
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$0
Q3 24
Q2 24
Q1 24
Stockholders' Equity
AROW
AROW
ESTA
ESTA
Q4 25
$23.5M
Q3 25
$16.4M
Q2 25
$22.8M
Q1 25
$38.5M
Q4 24
$53.1M
Q3 24
$32.7M
Q2 24
$383.0M
$45.0M
Q1 24
$378.0M
$56.9M
Total Assets
AROW
AROW
ESTA
ESTA
Q4 25
$357.2M
Q3 25
$338.9M
Q2 25
$329.7M
Q1 25
$333.4M
Q4 24
$346.8M
Q3 24
$282.7M
Q2 24
$4.2B
$285.1M
Q1 24
$4.3B
$301.8M
Debt / Equity
AROW
AROW
ESTA
ESTA
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
0.00×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

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

Metric
AROW
AROW
ESTA
ESTA
Operating Cash FlowLast quarter
$9.1M
$-162.0K
Free Cash FlowOCF − Capex
$7.5M
$-2.0M
FCF MarginFCF / Revenue
21.5%
-3.1%
Capex IntensityCapex / Revenue
4.5%
2.8%
Cash ConversionOCF / Net Profit
1.06×
TTM Free Cash FlowTrailing 4 quarters
$9.6M
$-56.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AROW
AROW
ESTA
ESTA
Q4 25
$-162.0K
Q3 25
$-11.3M
Q2 25
$-18.8M
Q1 25
$-20.7M
Q4 24
$-20.7M
Q3 24
$-12.5M
Q2 24
$9.1M
$-14.2M
Q1 24
$10.3M
$-11.2M
Free Cash Flow
AROW
AROW
ESTA
ESTA
Q4 25
$-2.0M
Q3 25
$-13.1M
Q2 25
$-20.4M
Q1 25
$-21.5M
Q4 24
$-21.3M
Q3 24
$-13.9M
Q2 24
$7.5M
$-15.0M
Q1 24
$9.2M
$-14.5M
FCF Margin
AROW
AROW
ESTA
ESTA
Q4 25
-3.1%
Q3 25
-24.4%
Q2 25
-39.7%
Q1 25
-51.9%
Q4 24
-47.8%
Q3 24
-34.6%
Q2 24
21.5%
-33.9%
Q1 24
26.8%
-38.9%
Capex Intensity
AROW
AROW
ESTA
ESTA
Q4 25
2.8%
Q3 25
3.4%
Q2 25
3.2%
Q1 25
1.8%
Q4 24
1.2%
Q3 24
3.7%
Q2 24
4.5%
1.8%
Q1 24
3.4%
8.9%
Cash Conversion
AROW
AROW
ESTA
ESTA
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
1.06×
Q1 24
1.35×

Financial Flow Comparison

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

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