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Side-by-side financial comparison of Armour Residential REIT, Inc. (ARR) 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 $50.4M, roughly 1.7× Armour Residential REIT, Inc.). Armour Residential REIT, Inc. runs the higher net margin — 420.2% vs 22.8%, a 397.5% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 297.9%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 108.0%).

Armour Residential REIT, Inc. is a U.S.-based real estate investment trust that primarily invests in agency residential mortgage-backed securities guaranteed by U.S. government-sponsored entities. It focuses on generating consistent long-term net income for shareholders via strategic asset management and active interest rate risk mitigation.

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.

ARR vs FDMT — Head-to-Head

Bigger by revenue
FDMT
FDMT
1.7× larger
FDMT
$85.1M
$50.4M
ARR
Growing faster (revenue YoY)
FDMT
FDMT
+8508602.1% gap
FDMT
8508900.0%
297.9%
ARR
Higher net margin
ARR
ARR
397.5% more per $
ARR
420.2%
22.8%
FDMT
Faster 2-yr revenue CAGR
FDMT
FDMT
Annualised
FDMT
5412.6%
108.0%
ARR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ARR
ARR
FDMT
FDMT
Revenue
$50.4M
$85.1M
Net Profit
$211.7M
$19.4M
Gross Margin
Operating Margin
17.3%
Net Margin
420.2%
22.8%
Revenue YoY
297.9%
8508900.0%
Net Profit YoY
555.9%
139.1%
EPS (diluted)
$2.43
$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.

Revenue
ARR
ARR
FDMT
FDMT
Q4 25
$50.4M
$85.1M
Q3 25
$38.5M
$90.0K
Q2 25
$33.1M
$15.0K
Q1 25
$36.3M
$14.0K
Q4 24
$12.7M
$1.0K
Q3 24
$3.0K
Q2 24
$7.0M
$5.0K
Q1 24
$28.0K
Net Profit
ARR
ARR
FDMT
FDMT
Q4 25
$211.7M
$19.4M
Q3 25
$159.3M
$-56.9M
Q2 25
$-75.6M
$-54.7M
Q1 25
$27.3M
$-48.0M
Q4 24
$-46.4M
Q3 24
$-43.8M
Q2 24
$-48.4M
$-35.0M
Q1 24
$-32.4M
Operating Margin
ARR
ARR
FDMT
FDMT
Q4 25
17.3%
Q3 25
-67983.3%
Q2 25
-396373.3%
Q1 25
-383007.1%
Q4 24
Q3 24
-1704400.0%
Q2 24
-849120.0%
Q1 24
-136200.0%
Net Margin
ARR
ARR
FDMT
FDMT
Q4 25
420.2%
22.8%
Q3 25
413.5%
-63195.6%
Q2 25
-228.4%
-364386.7%
Q1 25
75.2%
-342657.1%
Q4 24
-366.8%
Q3 24
-1461433.3%
Q2 24
-693.8%
-699060.0%
Q1 24
-115717.9%
EPS (diluted)
ARR
ARR
FDMT
FDMT
Q4 25
$2.43
$0.43
Q3 25
$1.49
$-1.01
Q2 25
$-0.94
$-0.98
Q1 25
$0.32
$-0.86
Q4 24
$-0.91
Q3 24
$-0.79
Q2 24
$-1.05
$-0.63
Q1 24
$-0.66

Balance Sheet & Financial Strength

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

Metric
ARR
ARR
FDMT
FDMT
Cash + ST InvestmentsLiquidity on hand
$63.3M
$402.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.3B
$505.7M
Total Assets
$21.0B
$566.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARR
ARR
FDMT
FDMT
Q4 25
$63.3M
$402.7M
Q3 25
$44.2M
$305.1M
Q2 25
$141.2M
$293.2M
Q1 25
$49.1M
$321.4M
Q4 24
$68.0M
$424.9M
Q3 24
$501.9M
Q2 24
$126.6M
$541.9M
Q1 24
$525.9M
Stockholders' Equity
ARR
ARR
FDMT
FDMT
Q4 25
$2.3B
$505.7M
Q3 25
$2.1B
$369.0M
Q2 25
$1.7B
$420.9M
Q1 25
$1.7B
$469.7M
Q4 24
$1.4B
$510.6M
Q3 24
$552.9M
Q2 24
$1.2B
$588.3M
Q1 24
$600.6M
Total Assets
ARR
ARR
FDMT
FDMT
Q4 25
$21.0B
$566.7M
Q3 25
$19.4B
$424.0M
Q2 25
$16.2B
$473.6M
Q1 25
$15.5B
$515.7M
Q4 24
$13.5B
$560.4M
Q3 24
$604.0M
Q2 24
$10.1B
$620.1M
Q1 24
$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
ARR
ARR
FDMT
FDMT
Operating Cash FlowLast quarter
$124.2M
$28.6M
Free Cash FlowOCF − Capex
$28.5M
FCF MarginFCF / Revenue
33.5%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
0.59×
1.47×
TTM Free Cash FlowTrailing 4 quarters
$-109.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARR
ARR
FDMT
FDMT
Q4 25
$124.2M
$28.6M
Q3 25
$-37.8M
$-46.5M
Q2 25
$25.0M
$-43.4M
Q1 25
$101.5M
$-47.8M
Q4 24
$261.5M
$-134.6M
Q3 24
$-29.4M
Q2 24
$27.1M
$-30.2M
Q1 24
$-29.1M
Free Cash Flow
ARR
ARR
FDMT
FDMT
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
FCF Margin
ARR
ARR
FDMT
FDMT
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%
Capex Intensity
ARR
ARR
FDMT
FDMT
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%
Cash Conversion
ARR
ARR
FDMT
FDMT
Q4 25
0.59×
1.47×
Q3 25
-0.24×
Q2 25
Q1 25
3.71×
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

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