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Side-by-side financial comparison of AMES NATIONAL CORP (ATLO) and DAWSON GEOPHYSICAL CO (DWSN). Click either name above to swap in a different company.

DAWSON GEOPHYSICAL CO is the larger business by last-quarter revenue ($26.9M vs $18.7M, roughly 1.4× AMES NATIONAL CORP). AMES NATIONAL CORP runs the higher net margin — 34.9% vs 2.1%, a 32.8% gap on every dollar of revenue. On growth, DAWSON GEOPHYSICAL CO posted the faster year-over-year revenue change (72.3% vs 26.7%). Over the past eight quarters, AMES NATIONAL CORP's revenue compounded faster (19.5% CAGR vs 5.4%).

Ames National Corp is a U.S. financial holding company based in Iowa. It operates multiple community banking subsidiaries, offering retail and commercial financial services including deposit accounts, personal and business loans, mortgages, and wealth management, primarily serving consumers and SMEs across central Iowa.

Dawson Geophysical Co is a North American geophysical services provider specializing in seismic data acquisition, processing and analysis. It primarily serves the oil and gas exploration and production sector, supporting clients to assess subsurface energy reserves across major onshore resource basins in the U.S. and Canada.

ATLO vs DWSN — Head-to-Head

Bigger by revenue
DWSN
DWSN
1.4× larger
DWSN
$26.9M
$18.7M
ATLO
Growing faster (revenue YoY)
DWSN
DWSN
+45.7% gap
DWSN
72.3%
26.7%
ATLO
Higher net margin
ATLO
ATLO
32.8% more per $
ATLO
34.9%
2.1%
DWSN
Faster 2-yr revenue CAGR
ATLO
ATLO
Annualised
ATLO
19.5%
5.4%
DWSN

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ATLO
ATLO
DWSN
DWSN
Revenue
$18.7M
$26.9M
Net Profit
$6.5M
$569.0K
Gross Margin
19.7%
Operating Margin
44.3%
3.1%
Net Margin
34.9%
2.1%
Revenue YoY
26.7%
72.3%
Net Profit YoY
85.4%
170.9%
EPS (diluted)
$0.03

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
ATLO
ATLO
DWSN
DWSN
Q4 25
$18.7M
$26.9M
Q3 25
$16.6M
$22.7M
Q2 25
$16.1M
$9.9M
Q1 25
$15.5M
$16.1M
Q4 24
$14.7M
$15.6M
Q3 24
$13.5M
Q2 24
$13.5M
$12.5M
Q1 24
$13.1M
$31.6M
Net Profit
ATLO
ATLO
DWSN
DWSN
Q4 25
$6.5M
$569.0K
Q3 25
$4.6M
$-1.2M
Q2 25
$4.5M
$-2.3M
Q1 25
$3.4M
$992.0K
Q4 24
$3.5M
$-802.0K
Q3 24
$2.2M
Q2 24
$2.2M
$-3.5M
Q1 24
$2.3M
$5.8M
Gross Margin
ATLO
ATLO
DWSN
DWSN
Q4 25
19.7%
Q3 25
10.1%
Q2 25
11.5%
Q1 25
26.7%
Q4 24
19.9%
Q3 24
Q2 24
1.0%
Q1 24
30.5%
Operating Margin
ATLO
ATLO
DWSN
DWSN
Q4 25
44.3%
3.1%
Q3 25
34.5%
-5.2%
Q2 25
35.0%
-24.1%
Q1 25
27.4%
6.4%
Q4 24
29.4%
-5.3%
Q3 24
19.4%
Q2 24
19.0%
-30.1%
Q1 24
20.8%
18.4%
Net Margin
ATLO
ATLO
DWSN
DWSN
Q4 25
34.9%
2.1%
Q3 25
27.5%
-5.1%
Q2 25
28.0%
-23.8%
Q1 25
22.3%
6.2%
Q4 24
23.8%
-5.1%
Q3 24
16.4%
Q2 24
16.2%
-28.3%
Q1 24
17.6%
18.5%
EPS (diluted)
ATLO
ATLO
DWSN
DWSN
Q4 25
$0.03
Q3 25
$-0.04
Q2 25
$-0.08
Q1 25
$0.03
Q4 24
$-0.02
Q3 24
Q2 24
$-0.12
Q1 24
$0.19

Balance Sheet & Financial Strength

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

Metric
ATLO
ATLO
DWSN
DWSN
Cash + ST InvestmentsLiquidity on hand
$126.8M
$5.3M
Total DebtLower is stronger
$18.4M
$11.3M
Stockholders' EquityBook value
$207.9M
$15.8M
Total Assets
$2.1B
$56.0M
Debt / EquityLower = less leverage
0.09×
0.72×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ATLO
ATLO
DWSN
DWSN
Q4 25
$126.8M
$5.3M
Q3 25
$108.2M
$5.1M
Q2 25
$95.2M
$16.2M
Q1 25
$163.4M
$2.7M
Q4 24
$101.2M
$1.4M
Q3 24
$59.0M
Q2 24
$63.4M
$11.4M
Q1 24
$111.4M
$11.7M
Total Debt
ATLO
ATLO
DWSN
DWSN
Q4 25
$18.4M
$11.3M
Q3 25
$6.5M
Q2 25
$1.1M
Q1 25
$1.3M
Q4 24
$20.0M
$1.5M
Q3 24
Q2 24
$1.4M
Q1 24
$1.5M
Stockholders' Equity
ATLO
ATLO
DWSN
DWSN
Q4 25
$207.9M
$15.8M
Q3 25
$200.6M
$15.2M
Q2 25
$193.0M
$16.4M
Q1 25
$183.1M
$18.3M
Q4 24
$174.7M
$17.3M
Q3 24
$183.4M
Q2 24
$167.1M
$23.8M
Q1 24
$165.5M
$27.3M
Total Assets
ATLO
ATLO
DWSN
DWSN
Q4 25
$2.1B
$56.0M
Q3 25
$2.1B
$40.6M
Q2 25
$2.1B
$45.7M
Q1 25
$2.2B
$33.3M
Q4 24
$2.1B
$30.9M
Q3 24
$2.1B
Q2 24
$2.1B
$41.0M
Q1 24
$2.2B
$57.8M
Debt / Equity
ATLO
ATLO
DWSN
DWSN
Q4 25
0.09×
0.72×
Q3 25
0.43×
Q2 25
0.07×
Q1 25
0.07×
Q4 24
0.11×
0.09×
Q3 24
Q2 24
0.06×
Q1 24
0.06×

Cash Flow & Capital Efficiency

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

Metric
ATLO
ATLO
DWSN
DWSN
Operating Cash FlowLast quarter
$21.3M
$2.1M
Free Cash FlowOCF − Capex
$20.7M
FCF MarginFCF / Revenue
110.8%
Capex IntensityCapex / Revenue
3.4%
Cash ConversionOCF / Net Profit
3.28×
3.67×
TTM Free Cash FlowTrailing 4 quarters
$34.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ATLO
ATLO
DWSN
DWSN
Q4 25
$21.3M
$2.1M
Q3 25
$2.8M
$-4.7M
Q2 25
$4.0M
$14.9M
Q1 25
$7.1M
$1.8M
Q4 24
$14.3M
$-5.4M
Q3 24
$3.1M
Q2 24
$3.9M
$5.9M
Q1 24
$1.4M
$1.9M
Free Cash Flow
ATLO
ATLO
DWSN
DWSN
Q4 25
$20.7M
Q3 25
$2.6M
$-10.2M
Q2 25
$3.9M
Q1 25
$6.9M
Q4 24
$14.0M
$-5.7M
Q3 24
$3.0M
Q2 24
$3.8M
$5.1M
Q1 24
$1.3M
$1.2M
FCF Margin
ATLO
ATLO
DWSN
DWSN
Q4 25
110.8%
Q3 25
16.0%
-44.7%
Q2 25
24.2%
Q1 25
44.8%
Q4 24
94.9%
-36.7%
Q3 24
22.5%
Q2 24
28.1%
40.9%
Q1 24
10.0%
3.8%
Capex Intensity
ATLO
ATLO
DWSN
DWSN
Q4 25
3.4%
Q3 25
0.6%
23.9%
Q2 25
0.7%
Q1 25
1.3%
Q4 24
2.0%
2.0%
Q3 24
0.5%
Q2 24
0.7%
6.4%
Q1 24
0.5%
2.2%
Cash Conversion
ATLO
ATLO
DWSN
DWSN
Q4 25
3.28×
3.67×
Q3 25
0.60×
Q2 25
0.89×
Q1 25
2.07×
1.77×
Q4 24
4.07×
Q3 24
1.40×
Q2 24
1.78×
Q1 24
0.59×
0.32×

Financial Flow Comparison

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

Revenue Breakdown by Segment

ATLO
ATLO

Segment breakdown not available.

DWSN
DWSN

Fee Revenue$22.9M85%
Other$4.0M15%

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