vs
Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
AMERICAN STATES WATER CO is the larger business by last-quarter revenue ($164.3M vs $85.1M, roughly 1.9× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 17.5%, a 5.3% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 14.8%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-36.0M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 10.2%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
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.
AWR vs FDMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $85.1M |
| Net Profit | $28.7M | $19.4M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 17.3% |
| Net Margin | 17.5% | 22.8% |
| Revenue YoY | 14.8% | 8508900.0% |
| Net Profit YoY | 1.1% | 139.1% |
| EPS (diluted) | $0.74 | $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.
| Q4 25 | $164.3M | $85.1M | ||
| Q3 25 | $182.7M | $90.0K | ||
| Q2 25 | $163.1M | $15.0K | ||
| Q1 25 | $148.0M | $14.0K | ||
| Q4 24 | $143.1M | $1.0K | ||
| Q3 24 | $161.8M | $3.0K | ||
| Q2 24 | $155.3M | $5.0K | ||
| Q1 24 | $135.3M | $28.0K |
| Q4 25 | $28.7M | $19.4M | ||
| Q3 25 | $41.2M | $-56.9M | ||
| Q2 25 | $33.7M | $-54.7M | ||
| Q1 25 | $26.8M | $-48.0M | ||
| Q4 24 | $28.4M | — | ||
| Q3 24 | $35.8M | $-43.8M | ||
| Q2 24 | $31.9M | $-35.0M | ||
| Q1 24 | $23.1M | $-32.4M |
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — | ||
| Q1 24 | 88.4% | — |
| Q4 25 | 27.4% | 17.3% | ||
| Q3 25 | 33.8% | -67983.3% | ||
| Q2 25 | 31.3% | -396373.3% | ||
| Q1 25 | 30.8% | -383007.1% | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 34.0% | -1704400.0% | ||
| Q2 24 | 33.3% | -849120.0% | ||
| Q1 24 | 28.8% | -136200.0% |
| Q4 25 | 17.5% | 22.8% | ||
| Q3 25 | 22.5% | -63195.6% | ||
| Q2 25 | 20.7% | -364386.7% | ||
| Q1 25 | 18.1% | -342657.1% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 22.1% | -1461433.3% | ||
| Q2 24 | 20.5% | -699060.0% | ||
| Q1 24 | 17.1% | -115717.9% |
| Q4 25 | $0.74 | $0.43 | ||
| Q3 25 | $1.06 | $-1.01 | ||
| Q2 25 | $0.87 | $-0.98 | ||
| Q1 25 | $0.70 | $-0.86 | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.95 | $-0.79 | ||
| Q2 24 | $0.85 | $-0.63 | ||
| Q1 24 | $0.62 | $-0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.8M | $402.7M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $505.7M |
| Total Assets | $2.7B | $566.7M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $402.7M | ||
| Q3 25 | $26.1M | $305.1M | ||
| Q2 25 | $20.2M | $293.2M | ||
| Q1 25 | $21.2M | $321.4M | ||
| Q4 24 | $26.7M | $424.9M | ||
| Q3 24 | $16.5M | $501.9M | ||
| Q2 24 | $3.6M | $541.9M | ||
| Q1 24 | $17.0M | $525.9M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $505.7M | ||
| Q3 25 | $1.0B | $369.0M | ||
| Q2 25 | $972.5M | $420.9M | ||
| Q1 25 | $956.4M | $469.7M | ||
| Q4 24 | $920.1M | $510.6M | ||
| Q3 24 | $879.5M | $552.9M | ||
| Q2 24 | $833.5M | $588.3M | ||
| Q1 24 | $800.5M | $600.6M |
| Q4 25 | $2.7B | $566.7M | ||
| Q3 25 | $2.7B | $424.0M | ||
| Q2 25 | $2.6B | $473.6M | ||
| Q1 25 | $2.5B | $515.7M | ||
| Q4 24 | $2.5B | $560.4M | ||
| Q3 24 | $2.4B | $604.0M | ||
| Q2 24 | $2.3B | $620.1M | ||
| Q1 24 | $2.3B | $629.9M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $27.7M | $28.6M |
| Free Cash FlowOCF − Capex | $-36.0M | $28.5M |
| FCF MarginFCF / Revenue | -21.9% | 33.5% |
| Capex IntensityCapex / Revenue | 38.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.96× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $28.6M | ||
| Q3 25 | $92.4M | $-46.5M | ||
| Q2 25 | $64.6M | $-43.4M | ||
| Q1 25 | $45.1M | $-47.8M | ||
| Q4 24 | $64.5M | $-134.6M | ||
| Q3 24 | $63.7M | $-29.4M | ||
| Q2 24 | $24.7M | $-30.2M | ||
| Q1 24 | $45.8M | $-29.1M |
| Q4 25 | $-36.0M | $28.5M | ||
| Q3 25 | $37.7M | $-46.6M | ||
| Q2 25 | $13.7M | $-43.4M | ||
| Q1 25 | $-22.5M | $-48.4M | ||
| Q4 24 | $6.0M | $-138.4M | ||
| Q3 24 | $-478.0K | $-31.2M | ||
| Q2 24 | $-37.0M | $-30.6M | ||
| Q1 24 | $-1.7M | $-29.8M |
| Q4 25 | -21.9% | 33.5% | ||
| Q3 25 | 20.7% | -51765.6% | ||
| Q2 25 | 8.4% | -289620.0% | ||
| Q1 25 | -15.2% | -345635.7% | ||
| Q4 24 | 4.2% | -13837100.0% | ||
| Q3 24 | -0.3% | -1038966.7% | ||
| Q2 24 | -23.8% | -611840.0% | ||
| Q1 24 | -1.3% | -106421.4% |
| Q4 25 | 38.8% | 0.1% | ||
| Q3 25 | 29.9% | 101.1% | ||
| Q2 25 | 31.2% | 440.0% | ||
| Q1 25 | 45.6% | 4507.1% | ||
| Q4 24 | 40.9% | 378600.0% | ||
| Q3 24 | 39.7% | 59266.7% | ||
| Q2 24 | 39.8% | 6980.0% | ||
| Q1 24 | 35.2% | 2535.7% |
| Q4 25 | 0.96× | 1.47× | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
FDMT
Segment breakdown not available.
