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Side-by-side financial comparison of Axos Financial, Inc. (AX) and Compass Diversified Holdings (CODI). Click either name above to swap in a different company.
Compass Diversified Holdings is the larger business by last-quarter revenue ($468.6M vs $392.2M, roughly 1.2× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 31.8% vs -16.8%, a 48.6% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs 6.8%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
Compass Diversified Holdings is a publicly traded holding firm that acquires and operates a diverse portfolio of middle-market businesses across sectors including consumer goods, industrial manufacturing, outdoor recreation, and food & beverage. It partners with portfolio company leadership teams to drive long-term operational growth and value creation, primarily serving North American markets.
AX vs CODI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $468.6M |
| Net Profit | $124.7M | $-78.8M |
| Gross Margin | — | 43.1% |
| Operating Margin | — | 9.8% |
| Net Margin | 31.8% | -16.8% |
| Revenue YoY | — | -5.1% |
| Net Profit YoY | 18.5% | -14.4% |
| EPS (diluted) | $2.15 | $-0.91 |
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.
| Q1 26 | $392.2M | — | ||
| Q4 25 | $385.1M | $468.6M | ||
| Q3 25 | $323.4M | $472.6M | ||
| Q2 25 | $321.4M | $478.7M | ||
| Q1 25 | $308.8M | $453.8M | ||
| Q4 24 | $307.9M | $493.9M | ||
| Q3 24 | $320.7M | $456.6M | ||
| Q2 24 | $290.9M | $426.7M |
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $-78.8M | ||
| Q3 25 | $112.4M | $-74.0M | ||
| Q2 25 | $110.7M | $-51.2M | ||
| Q1 25 | $105.2M | $-30.0M | ||
| Q4 24 | $104.7M | $-68.9M | ||
| Q3 24 | $112.3M | $-36.0M | ||
| Q2 24 | $104.9M | $-73.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 44.1% |
| Q1 26 | — | — | ||
| Q4 25 | 45.6% | 9.8% | ||
| Q3 25 | 46.3% | -2.3% | ||
| Q2 25 | 48.5% | -5.7% | ||
| Q1 25 | 47.9% | 0.8% | ||
| Q4 24 | 48.8% | -3.8% | ||
| Q3 24 | 49.6% | 1.8% | ||
| Q2 24 | 49.6% | 1.8% |
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | -16.8% | ||
| Q3 25 | 34.7% | -15.7% | ||
| Q2 25 | 34.4% | -10.7% | ||
| Q1 25 | 34.1% | -6.6% | ||
| Q4 24 | 34.0% | -13.9% | ||
| Q3 24 | 35.0% | -7.9% | ||
| Q2 24 | 36.0% | -17.1% |
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $-0.91 | ||
| Q3 25 | $1.94 | $-1.21 | ||
| Q2 25 | $1.89 | $-0.88 | ||
| Q1 25 | $1.81 | $-0.59 | ||
| Q4 24 | $1.80 | $-0.57 | ||
| Q3 24 | $1.93 | $-0.62 | ||
| Q2 24 | $1.75 | $-1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $68.0M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $3.1B | $442.0M |
| Total Assets | $29.2B | $3.0B |
| Debt / EquityLower = less leverage | — | 4.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $68.0M | ||
| Q3 25 | $2.6B | $61.1M | ||
| Q2 25 | $1.9B | $73.8M | ||
| Q1 25 | $2.0B | $146.2M | ||
| Q4 24 | $2.4B | $59.7M | ||
| Q3 24 | $2.6B | $64.9M | ||
| Q2 24 | $2.0B | $61.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $312.7M | $1.9B | ||
| Q1 25 | $377.4M | $1.9B | ||
| Q4 24 | $358.7M | $1.8B | ||
| Q3 24 | $313.5M | $1.8B | ||
| Q2 24 | $325.7M | $1.7B |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $442.0M | ||
| Q3 25 | $2.8B | $519.2M | ||
| Q2 25 | $2.7B | $601.9M | ||
| Q1 25 | $2.6B | $680.7M | ||
| Q4 24 | $2.5B | $678.6M | ||
| Q3 24 | $2.4B | $672.2M | ||
| Q2 24 | $2.3B | $711.3M |
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $3.0B | ||
| Q3 25 | $27.4B | $3.2B | ||
| Q2 25 | $24.8B | $3.3B | ||
| Q1 25 | $24.0B | $3.4B | ||
| Q4 24 | $23.7B | $3.3B | ||
| Q3 24 | $23.6B | $3.3B | ||
| Q2 24 | $22.9B | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.25× | ||
| Q3 25 | — | 3.62× | ||
| Q2 25 | 0.12× | 3.09× | ||
| Q1 25 | 0.14× | 2.73× | ||
| Q4 24 | 0.14× | 2.61× | ||
| Q3 24 | 0.13× | 2.64× | ||
| Q2 24 | 0.14× | 2.42× |
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 | — | $47.0M |
| Free Cash FlowOCF − Capex | — | $36.9M |
| FCF MarginFCF / Revenue | — | 7.9% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-51.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $47.0M | ||
| Q3 25 | $118.4M | $10.7M | ||
| Q2 25 | $490.3M | $-35.2M | ||
| Q1 25 | $73.7M | $-29.3M | ||
| Q4 24 | $162.5M | $-16.1M | ||
| Q3 24 | $70.8M | $-48.4M | ||
| Q2 24 | $305.5M | $-61.3M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $36.9M | ||
| Q3 25 | $109.3M | $481.0K | ||
| Q2 25 | $436.1M | $-46.0M | ||
| Q1 25 | $65.1M | $-42.4M | ||
| Q4 24 | $156.4M | $-39.0M | ||
| Q3 24 | $53.0M | $-63.5M | ||
| Q2 24 | $269.5M | $-72.2M |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 7.9% | ||
| Q3 25 | 33.8% | 0.1% | ||
| Q2 25 | 135.7% | -9.6% | ||
| Q1 25 | 21.1% | -9.4% | ||
| Q4 24 | 50.8% | -7.9% | ||
| Q3 24 | 16.5% | -13.9% | ||
| Q2 24 | 92.6% | -16.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 2.2% | ||
| Q3 25 | 2.8% | 2.2% | ||
| Q2 25 | 16.9% | 2.3% | ||
| Q1 25 | 2.8% | 2.9% | ||
| Q4 24 | 2.0% | 4.6% | ||
| Q3 24 | 5.5% | 3.3% | ||
| Q2 24 | 12.4% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 4.43× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
CODI
| Other | $119.5M | 26% |
| A5.11Tactical | $113.9M | 24% |
| Sterno Products | $85.9M | 18% |
| Altor | $60.8M | 13% |
| The Honey Pot | $36.0M | 8% |
| Arnold | $25.4M | 5% |
| Velocity Outdoor | $18.7M | 4% |
| Lugano | $8.3M | 2% |
