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Side-by-side financial comparison of Armour Residential REIT, Inc. (ARR) and MESA LABORATORIES INC (MLAB). Click either name above to swap in a different company.

MESA LABORATORIES INC is the larger business by last-quarter revenue ($65.1M vs $50.4M, roughly 1.3× Armour Residential REIT, Inc.). Armour Residential REIT, Inc. runs the higher net margin — 420.2% vs 5.6%, a 414.7% gap on every dollar of revenue. On growth, Armour Residential REIT, Inc. posted the faster year-over-year revenue change (297.9% vs 3.6%). Over the past eight quarters, Armour Residential REIT, Inc.'s revenue compounded faster (108.0% CAGR vs 5.1%).

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.

Mesa Laboratories Inc. develops, manufactures and sells professional quality control, calibration and monitoring instruments as well as related supporting services. Its core offerings cater to healthcare, pharmaceutical, food and beverage, industrial hygiene and environmental testing markets, helping global clients meet regulatory compliance and operational safety requirements.

ARR vs MLAB — Head-to-Head

Bigger by revenue
MLAB
MLAB
1.3× larger
MLAB
$65.1M
$50.4M
ARR
Growing faster (revenue YoY)
ARR
ARR
+294.2% gap
ARR
297.9%
3.6%
MLAB
Higher net margin
ARR
ARR
414.7% more per $
ARR
420.2%
5.6%
MLAB
Faster 2-yr revenue CAGR
ARR
ARR
Annualised
ARR
108.0%
5.1%
MLAB

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
ARR
ARR
MLAB
MLAB
Revenue
$50.4M
$65.1M
Net Profit
$211.7M
$3.6M
Gross Margin
64.2%
Operating Margin
12.2%
Net Margin
420.2%
5.6%
Revenue YoY
297.9%
3.6%
Net Profit YoY
555.9%
316.6%
EPS (diluted)
$2.43
$0.65

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
MLAB
MLAB
Q4 25
$50.4M
$65.1M
Q3 25
$38.5M
$60.7M
Q2 25
$33.1M
$59.5M
Q1 25
$36.3M
$62.1M
Q4 24
$12.7M
$62.8M
Q3 24
$57.8M
Q2 24
$7.0M
$58.2M
Q1 24
$58.9M
Net Profit
ARR
ARR
MLAB
MLAB
Q4 25
$211.7M
$3.6M
Q3 25
$159.3M
$2.5M
Q2 25
$-75.6M
$4.7M
Q1 25
$27.3M
$-7.1M
Q4 24
$-46.4M
$-1.7M
Q3 24
$3.4M
Q2 24
$-48.4M
$3.4M
Q1 24
$-254.6M
Gross Margin
ARR
ARR
MLAB
MLAB
Q4 25
64.2%
Q3 25
61.5%
Q2 25
62.0%
Q1 25
61.8%
Q4 24
63.3%
Q3 24
61.3%
Q2 24
64.0%
Q1 24
62.1%
Operating Margin
ARR
ARR
MLAB
MLAB
Q4 25
12.2%
Q3 25
7.8%
Q2 25
5.1%
Q1 25
2.4%
Q4 24
9.2%
Q3 24
6.1%
Q2 24
9.6%
Q1 24
-460.6%
Net Margin
ARR
ARR
MLAB
MLAB
Q4 25
420.2%
5.6%
Q3 25
413.5%
4.1%
Q2 25
-228.4%
8.0%
Q1 25
75.2%
-11.4%
Q4 24
-366.8%
-2.7%
Q3 24
5.9%
Q2 24
-693.8%
5.8%
Q1 24
-432.2%
EPS (diluted)
ARR
ARR
MLAB
MLAB
Q4 25
$2.43
$0.65
Q3 25
$1.49
$0.45
Q2 25
$-0.94
$0.85
Q1 25
$0.32
$-1.30
Q4 24
$-0.91
$-0.31
Q3 24
$0.63
Q2 24
$-1.05
$0.62
Q1 24
$-47.26

Balance Sheet & Financial Strength

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

Metric
ARR
ARR
MLAB
MLAB
Cash + ST InvestmentsLiquidity on hand
$63.3M
$29.0M
Total DebtLower is stronger
$68.4M
Stockholders' EquityBook value
$2.3B
$186.7M
Total Assets
$21.0B
$434.8M
Debt / EquityLower = less leverage
0.37×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARR
ARR
MLAB
MLAB
Q4 25
$63.3M
$29.0M
Q3 25
$44.2M
$20.4M
Q2 25
$141.2M
$21.3M
Q1 25
$49.1M
$27.3M
Q4 24
$68.0M
$27.3M
Q3 24
$24.3M
Q2 24
$126.6M
$28.5M
Q1 24
$28.2M
Total Debt
ARR
ARR
MLAB
MLAB
Q4 25
$68.4M
Q3 25
$69.4M
Q2 25
$70.3M
Q1 25
$71.3M
Q4 24
$72.2M
Q3 24
$73.1M
Q2 24
$74.1M
Q1 24
Stockholders' Equity
ARR
ARR
MLAB
MLAB
Q4 25
$2.3B
$186.7M
Q3 25
$2.1B
$178.5M
Q2 25
$1.7B
$172.5M
Q1 25
$1.7B
$159.8M
Q4 24
$1.4B
$155.2M
Q3 24
$161.5M
Q2 24
$1.2B
$150.7M
Q1 24
$145.4M
Total Assets
ARR
ARR
MLAB
MLAB
Q4 25
$21.0B
$434.8M
Q3 25
$19.4B
$430.4M
Q2 25
$16.2B
$435.7M
Q1 25
$15.5B
$433.3M
Q4 24
$13.5B
$433.3M
Q3 24
$454.1M
Q2 24
$10.1B
$440.4M
Q1 24
$446.8M
Debt / Equity
ARR
ARR
MLAB
MLAB
Q4 25
0.37×
Q3 25
0.39×
Q2 25
0.41×
Q1 25
0.45×
Q4 24
0.47×
Q3 24
0.45×
Q2 24
0.49×
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
ARR
ARR
MLAB
MLAB
Operating Cash FlowLast quarter
$124.2M
$18.8M
Free Cash FlowOCF − Capex
$18.0M
FCF MarginFCF / Revenue
27.7%
Capex IntensityCapex / Revenue
1.1%
Cash ConversionOCF / Net Profit
0.59×
5.17×
TTM Free Cash FlowTrailing 4 quarters
$37.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARR
ARR
MLAB
MLAB
Q4 25
$124.2M
$18.8M
Q3 25
$-37.8M
$8.2M
Q2 25
$25.0M
$1.9M
Q1 25
$101.5M
$12.7M
Q4 24
$261.5M
$18.1M
Q3 24
$5.3M
Q2 24
$27.1M
$10.7M
Q1 24
$12.9M
Free Cash Flow
ARR
ARR
MLAB
MLAB
Q4 25
$18.0M
Q3 25
$7.1M
Q2 25
$884.0K
Q1 25
$11.9M
Q4 24
$17.3M
Q3 24
$3.5M
Q2 24
$9.9M
Q1 24
$12.3M
FCF Margin
ARR
ARR
MLAB
MLAB
Q4 25
27.7%
Q3 25
11.7%
Q2 25
1.5%
Q1 25
19.2%
Q4 24
27.6%
Q3 24
6.0%
Q2 24
16.9%
Q1 24
21.0%
Capex Intensity
ARR
ARR
MLAB
MLAB
Q4 25
1.1%
Q3 25
1.8%
Q2 25
1.7%
Q1 25
1.2%
Q4 24
1.3%
Q3 24
3.1%
Q2 24
1.5%
Q1 24
0.9%
Cash Conversion
ARR
ARR
MLAB
MLAB
Q4 25
0.59×
5.17×
Q3 25
-0.24×
3.32×
Q2 25
0.40×
Q1 25
3.71×
Q4 24
Q3 24
1.54×
Q2 24
3.17×
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

ARR
ARR

Segment breakdown not available.

MLAB
MLAB

Sterilization And Disinfection Control$24.9M38%
Biopharmaceutical Development$14.4M22%
Other$14.1M22%
Clinical Genomics$11.8M18%

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