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Side-by-side financial comparison of Ascendis Pharma A/S (ASND) and Heritage Insurance Holdings, Inc. (HRTG). Click either name above to swap in a different company.

Ascendis Pharma A/S is the larger business by last-quarter revenue ($267.3M vs $215.3M, roughly 1.2× Heritage Insurance Holdings, Inc.). On growth, Ascendis Pharma A/S posted the faster year-over-year revenue change (42.3% vs 2.4%). Over the past eight quarters, Ascendis Pharma A/S's revenue compounded faster (60.7% CAGR vs 6.1%).

Growth hormone therapy refers to the use of growth hormone (GH) as a prescription medication—it is one form of hormone therapy. Growth hormone is a peptide hormone secreted by the pituitary gland that stimulates growth and cell reproduction. In the past, growth hormone was extracted from human pituitary glands. Growth hormone is now produced by recombinant DNA technology and is prescribed for a variety of reasons. GH therapy has been a focus of social and ethical controversies for 50 years.

United Property & Casualty Insurance Company, Inc. is an American property and casualty insurance company with headquarters in Florida. It writes commercial, residential, homeowners’, and flood insurance policies in several coastal states.

ASND vs HRTG — Head-to-Head

Bigger by revenue
ASND
ASND
1.2× larger
ASND
$267.3M
$215.3M
HRTG
Growing faster (revenue YoY)
ASND
ASND
+39.9% gap
ASND
42.3%
2.4%
HRTG
Faster 2-yr revenue CAGR
ASND
ASND
Annualised
ASND
60.7%
6.1%
HRTG

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ASND
ASND
HRTG
HRTG
Revenue
$267.3M
$215.3M
Net Profit
$66.7M
Gross Margin
90.5%
Operating Margin
41.6%
Net Margin
31.0%
Revenue YoY
42.3%
2.4%
Net Profit YoY
228.6%
EPS (diluted)
$2.15

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
ASND
ASND
HRTG
HRTG
Q4 25
$267.3M
$215.3M
Q3 25
$230.7M
$212.5M
Q2 25
$170.7M
$208.0M
Q1 25
$109.0M
$211.5M
Q4 24
$187.8M
$210.3M
Q3 24
$62.5M
$211.8M
Q2 24
$38.9M
$203.6M
Q1 24
$103.6M
$191.3M
Net Profit
ASND
ASND
HRTG
HRTG
Q4 25
$66.7M
Q3 25
$-65.9M
$50.4M
Q2 25
$-42.0M
$48.0M
Q1 25
$-102.2M
$30.5M
Q4 24
$20.3M
Q3 24
$-107.1M
$8.2M
Q2 24
$-118.1M
$18.9M
Q1 24
$-141.5M
$14.2M
Gross Margin
ASND
ASND
HRTG
HRTG
Q4 25
90.5%
Q3 25
89.5%
Q2 25
80.1%
Q1 25
82.6%
Q4 24
91.9%
Q3 24
80.6%
Q2 24
68.2%
Q1 24
92.1%
Operating Margin
ASND
ASND
HRTG
HRTG
Q4 25
41.6%
Q3 25
5.1%
33.0%
Q2 25
-33.5%
31.2%
Q1 25
-103.2%
20.1%
Q4 24
15.0%
Q3 24
-167.3%
5.5%
Q2 24
-370.2%
13.6%
Q1 24
-51.2%
11.9%
Net Margin
ASND
ASND
HRTG
HRTG
Q4 25
31.0%
Q3 25
-28.5%
23.7%
Q2 25
-24.6%
23.1%
Q1 25
-93.7%
14.4%
Q4 24
9.7%
Q3 24
-171.5%
3.8%
Q2 24
-303.9%
9.3%
Q1 24
-136.6%
7.4%
EPS (diluted)
ASND
ASND
HRTG
HRTG
Q4 25
$2.15
Q3 25
$1.63
Q2 25
$1.55
Q1 25
$0.99
Q4 24
$0.66
Q3 24
$0.27
Q2 24
$0.61
Q1 24
$0.47

Balance Sheet & Financial Strength

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

Metric
ASND
ASND
HRTG
HRTG
Cash + ST InvestmentsLiquidity on hand
$665.3M
$559.3M
Total DebtLower is stronger
$78.4M
Stockholders' EquityBook value
$-175.8M
$505.3M
Total Assets
$1.4B
$2.2B
Debt / EquityLower = less leverage
0.16×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ASND
ASND
HRTG
HRTG
Q4 25
$665.3M
$559.3M
Q3 25
$582.2M
$560.4M
Q2 25
$533.6M
$473.5M
Q1 25
$559.4M
$425.9M
Q4 24
$604.3M
$452.7M
Q3 24
$675.6M
$509.9M
Q2 24
$279.4M
$480.9M
Q1 24
$345.9M
$386.1M
Total Debt
ASND
ASND
HRTG
HRTG
Q4 25
$78.4M
Q3 25
$79.3M
Q2 25
$92.4M
Q1 25
$94.8M
Q4 24
$116.3M
Q3 24
$118.6M
Q2 24
$120.8M
Q1 24
$123.0M
Stockholders' Equity
ASND
ASND
HRTG
HRTG
Q4 25
$-175.8M
$505.3M
Q3 25
$-188.0M
$437.3M
Q2 25
$-202.6M
$383.3M
Q1 25
$-205.0M
$329.0M
Q4 24
$-114.2M
$290.8M
Q3 24
$-105.1M
$279.3M
Q2 24
$-346.8M
$255.3M
Q1 24
$-257.2M
$234.9M
Total Assets
ASND
ASND
HRTG
HRTG
Q4 25
$1.4B
$2.2B
Q3 25
$1.2B
$2.4B
Q2 25
$1.2B
$2.5B
Q1 25
$1.1B
$2.2B
Q4 24
$1.3B
$2.5B
Q3 24
$1.2B
$2.4B
Q2 24
$819.0M
$2.6B
Q1 24
$866.7M
$2.1B
Debt / Equity
ASND
ASND
HRTG
HRTG
Q4 25
0.16×
Q3 25
0.18×
Q2 25
0.24×
Q1 25
0.29×
Q4 24
0.40×
Q3 24
0.42×
Q2 24
0.47×
Q1 24
0.52×

Cash Flow & Capital Efficiency

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

Metric
ASND
ASND
HRTG
HRTG
Operating Cash FlowLast quarter
$58.2M
$182.2M
Free Cash FlowOCF − Capex
$174.2M
FCF MarginFCF / Revenue
80.9%
Capex IntensityCapex / Revenue
3.7%
Cash ConversionOCF / Net Profit
2.73×
TTM Free Cash FlowTrailing 4 quarters
$337.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ASND
ASND
HRTG
HRTG
Q4 25
$58.2M
$182.2M
Q3 25
$124.3M
Q2 25
$43.3M
Q1 25
$-15.5M
$837.0K
Q4 24
$-330.7M
$87.1M
Q3 24
$-13.4M
Q2 24
$152.2M
Q1 24
$-109.7M
$4.3M
Free Cash Flow
ASND
ASND
HRTG
HRTG
Q4 25
$174.2M
Q3 25
$122.7M
Q2 25
$41.8M
Q1 25
$-1.3M
Q4 24
$78.9M
Q3 24
$-16.3M
Q2 24
$149.8M
Q1 24
$4.1M
FCF Margin
ASND
ASND
HRTG
HRTG
Q4 25
80.9%
Q3 25
57.8%
Q2 25
20.1%
Q1 25
-0.6%
Q4 24
37.5%
Q3 24
-7.7%
Q2 24
73.6%
Q1 24
2.1%
Capex Intensity
ASND
ASND
HRTG
HRTG
Q4 25
3.7%
Q3 25
0.7%
Q2 25
0.7%
Q1 25
1.0%
Q4 24
3.9%
Q3 24
1.4%
Q2 24
1.2%
Q1 24
0.1%
Cash Conversion
ASND
ASND
HRTG
HRTG
Q4 25
2.73×
Q3 25
2.47×
Q2 25
0.90×
Q1 25
0.03×
Q4 24
4.29×
Q3 24
-1.64×
Q2 24
8.07×
Q1 24
0.30×

Financial Flow Comparison

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

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