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Side-by-side financial comparison of AVANOS MEDICAL, INC. (AVNS) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
AVANOS MEDICAL, INC. is the larger business by last-quarter revenue ($180.9M vs $100.0M, roughly 1.8× Latham Group, Inc.). AVANOS MEDICAL, INC. runs the higher net margin — -0.7% vs -7.0%, a 6.3% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 0.7%). AVANOS MEDICAL, INC. produced more free cash flow last quarter ($21.3M vs $14.1M). Over the past eight quarters, AVANOS MEDICAL, INC.'s revenue compounded faster (4.4% CAGR vs -4.9%).
Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AVNS vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $180.9M | $100.0M |
| Net Profit | $-1.3M | $-7.0M |
| Gross Margin | 47.5% | 28.0% |
| Operating Margin | 1.4% | -10.7% |
| Net Margin | -0.7% | -7.0% |
| Revenue YoY | 0.7% | 14.5% |
| Net Profit YoY | 99.7% | 76.0% |
| EPS (diluted) | $-0.02 | $-0.06 |
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.
| Q4 25 | $180.9M | $100.0M | ||
| Q3 25 | $177.8M | $161.9M | ||
| Q2 25 | $175.0M | $172.6M | ||
| Q1 25 | $167.5M | $111.4M | ||
| Q4 24 | $179.6M | $87.3M | ||
| Q3 24 | $170.4M | $150.5M | ||
| Q2 24 | $171.7M | $160.1M | ||
| Q1 24 | $166.1M | $110.6M |
| Q4 25 | $-1.3M | $-7.0M | ||
| Q3 25 | $-1.4M | $8.1M | ||
| Q2 25 | $-76.8M | $16.0M | ||
| Q1 25 | $6.6M | $-6.0M | ||
| Q4 24 | $-397.3M | $-29.2M | ||
| Q3 24 | $4.3M | $5.9M | ||
| Q2 24 | $1.8M | $13.3M | ||
| Q1 24 | $-900.0K | $-7.9M |
| Q4 25 | 47.5% | 28.0% | ||
| Q3 25 | 48.4% | 35.4% | ||
| Q2 25 | 52.6% | 37.1% | ||
| Q1 25 | 53.6% | 29.5% | ||
| Q4 24 | 54.6% | 24.6% | ||
| Q3 24 | 54.5% | 32.4% | ||
| Q2 24 | 55.7% | 33.1% | ||
| Q1 24 | 57.1% | 27.7% |
| Q4 25 | 1.4% | -10.7% | ||
| Q3 25 | 0.1% | 13.3% | ||
| Q2 25 | -42.6% | 14.3% | ||
| Q1 25 | 6.1% | -4.4% | ||
| Q4 24 | -233.0% | -14.9% | ||
| Q3 24 | 7.0% | 8.9% | ||
| Q2 24 | 3.7% | 12.5% | ||
| Q1 24 | 2.4% | -1.9% |
| Q4 25 | -0.7% | -7.0% | ||
| Q3 25 | -0.8% | 5.0% | ||
| Q2 25 | -43.9% | 9.3% | ||
| Q1 25 | 3.9% | -5.4% | ||
| Q4 24 | -221.2% | -33.4% | ||
| Q3 24 | 2.5% | 3.9% | ||
| Q2 24 | 1.0% | 8.3% | ||
| Q1 24 | -0.5% | -7.1% |
| Q4 25 | $-0.02 | $-0.06 | ||
| Q3 25 | $-0.03 | $0.07 | ||
| Q2 25 | $-1.66 | $0.13 | ||
| Q1 25 | $0.14 | $-0.05 | ||
| Q4 24 | $-8.64 | $-0.24 | ||
| Q3 24 | $0.09 | $0.05 | ||
| Q2 24 | $0.04 | $0.11 | ||
| Q1 24 | $-0.02 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $89.8M | — |
| Total DebtLower is stronger | $90.3M | $279.8M |
| Stockholders' EquityBook value | $778.2M | $405.9M |
| Total Assets | $1.1B | $823.2M |
| Debt / EquityLower = less leverage | 0.12× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $89.8M | — | ||
| Q3 25 | $70.5M | — | ||
| Q2 25 | $90.3M | — | ||
| Q1 25 | $97.0M | — | ||
| Q4 24 | $107.7M | — | ||
| Q3 24 | $89.0M | — | ||
| Q2 24 | $92.2M | — | ||
| Q1 24 | $75.8M | — |
| Q4 25 | $90.3M | $279.8M | ||
| Q3 25 | $93.4M | $281.1M | ||
| Q2 25 | $95.7M | $281.5M | ||
| Q1 25 | $98.0M | $306.9M | ||
| Q4 24 | $125.3M | $281.5M | ||
| Q3 24 | $152.6M | $282.8M | ||
| Q2 24 | $164.9M | $282.4M | ||
| Q1 24 | $167.2M | $282.8M |
| Q4 25 | $778.2M | $405.9M | ||
| Q3 25 | $778.0M | $408.4M | ||
| Q2 25 | $776.3M | $398.4M | ||
| Q1 25 | $839.4M | $381.1M | ||
| Q4 24 | $828.5M | $387.2M | ||
| Q3 24 | $1.2B | $416.6M | ||
| Q2 24 | $1.2B | $408.1M | ||
| Q1 24 | $1.2B | $391.8M |
| Q4 25 | $1.1B | $823.2M | ||
| Q3 25 | $1.1B | $844.4M | ||
| Q2 25 | $1.0B | $822.1M | ||
| Q1 25 | $1.1B | $824.6M | ||
| Q4 24 | $1.2B | $794.2M | ||
| Q3 24 | $1.7B | $853.4M | ||
| Q2 24 | $1.7B | $830.0M | ||
| Q1 24 | $1.7B | $808.6M |
| Q4 25 | 0.12× | 0.69× | ||
| Q3 25 | 0.12× | 0.69× | ||
| Q2 25 | 0.12× | 0.71× | ||
| Q1 25 | 0.12× | 0.81× | ||
| Q4 24 | 0.15× | 0.73× | ||
| Q3 24 | 0.12× | 0.68× | ||
| Q2 24 | 0.13× | 0.69× | ||
| Q1 24 | 0.14× | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.2M | $23.3M |
| Free Cash FlowOCF − Capex | $21.3M | $14.1M |
| FCF MarginFCF / Revenue | 11.8% | 14.1% |
| Capex IntensityCapex / Revenue | 3.8% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.2M | $23.3M | ||
| Q3 25 | $14.0M | $51.0M | ||
| Q2 25 | $6.8M | $36.0M | ||
| Q1 25 | $25.7M | $-46.9M | ||
| Q4 24 | $57.9M | $6.2M | ||
| Q3 24 | $23.0M | $37.2M | ||
| Q2 24 | $27.8M | $52.4M | ||
| Q1 24 | $-8.0M | $-34.5M |
| Q4 25 | $21.3M | $14.1M | ||
| Q3 25 | $7.0M | $45.2M | ||
| Q2 25 | $-4.2M | $29.1M | ||
| Q1 25 | $19.0M | $-50.3M | ||
| Q4 24 | $53.1M | $-98.0K | ||
| Q3 24 | $20.0M | $33.2M | ||
| Q2 24 | $21.9M | $47.9M | ||
| Q1 24 | $-12.1M | $-39.9M |
| Q4 25 | 11.8% | 14.1% | ||
| Q3 25 | 3.9% | 27.9% | ||
| Q2 25 | -2.4% | 16.8% | ||
| Q1 25 | 11.3% | -45.2% | ||
| Q4 24 | 29.6% | -0.1% | ||
| Q3 24 | 11.7% | 22.1% | ||
| Q2 24 | 12.8% | 29.9% | ||
| Q1 24 | -7.3% | -36.0% |
| Q4 25 | 3.8% | 9.2% | ||
| Q3 25 | 3.9% | 3.6% | ||
| Q2 25 | 6.3% | 4.0% | ||
| Q1 25 | 4.0% | 3.1% | ||
| Q4 24 | 2.7% | 7.2% | ||
| Q3 24 | 1.8% | 2.7% | ||
| Q2 24 | 3.4% | 2.8% | ||
| Q1 24 | 2.5% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | 3.89× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.35× | 6.32× | ||
| Q2 24 | 15.44× | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNS
| Enteral Feeding | $83.0M | 46% |
| Radiofrequency Ablation | $36.9M | 20% |
| Neonate Solutions | $32.1M | 18% |
| Surgical Pain And Recovery | $24.7M | 14% |
| Corporate Other | $4.2M | 2% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
