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Side-by-side financial comparison of BALCHEM CORP (BCPC) and CLEANSPARK, INC. (CLSK). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($263.6M vs $181.2M, roughly 1.5× CLEANSPARK, INC.). BALCHEM CORP runs the higher net margin — 14.9% vs -209.0%, a 223.9% gap on every dollar of revenue. On growth, CLEANSPARK, INC. posted the faster year-over-year revenue change (11.6% vs 9.8%). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs 4.9%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
CleanSpark, Inc. is a U.S.-headquartered sustainable technology company operating two core business segments: low-carbon Bitcoin mining powered primarily by renewable and stranded energy resources, and end-to-end microgrid design, deployment, and operation services for commercial, industrial, and public sector clients across North America.
BCPC vs CLSK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $263.6M | $181.2M |
| Net Profit | $39.2M | $-378.7M |
| Gross Margin | 35.6% | 47.2% |
| Operating Margin | 19.8% | -174.7% |
| Net Margin | 14.9% | -209.0% |
| Revenue YoY | 9.8% | 11.6% |
| Net Profit YoY | 16.8% | -253.5% |
| EPS (diluted) | $1.21 | — |
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 | $263.6M | $181.2M | ||
| Q3 25 | $267.6M | — | ||
| Q2 25 | $255.5M | — | ||
| Q1 25 | $250.5M | — | ||
| Q4 24 | $240.0M | — | ||
| Q3 24 | $239.9M | $89.3M | ||
| Q2 24 | $234.1M | $104.1M | ||
| Q1 24 | $239.7M | $111.8M |
| Q4 25 | $39.2M | $-378.7M | ||
| Q3 25 | $40.3M | — | ||
| Q2 25 | $38.3M | — | ||
| Q1 25 | $37.1M | — | ||
| Q4 24 | $33.6M | — | ||
| Q3 24 | $33.8M | $-62.2M | ||
| Q2 24 | $32.1M | $-236.2M | ||
| Q1 24 | $29.0M | $126.7M |
| Q4 25 | 35.6% | 47.2% | ||
| Q3 25 | 35.7% | — | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 36.0% | — | ||
| Q3 24 | 35.6% | 36.0% | ||
| Q2 24 | 35.5% | 56.6% | ||
| Q1 24 | 34.0% | 69.3% |
| Q4 25 | 19.8% | -174.7% | ||
| Q3 25 | 20.4% | — | ||
| Q2 25 | 20.1% | — | ||
| Q1 25 | 20.4% | — | ||
| Q4 24 | 19.8% | — | ||
| Q3 24 | 20.0% | -73.5% | ||
| Q2 24 | 19.6% | -239.2% | ||
| Q1 24 | 17.4% | — |
| Q4 25 | 14.9% | -209.0% | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 14.1% | -69.6% | ||
| Q2 24 | 13.7% | -226.9% | ||
| Q1 24 | 12.1% | 113.4% |
| Q4 25 | $1.21 | — | ||
| Q3 25 | $1.24 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.13 | — | ||
| Q4 24 | $1.03 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.98 | — | ||
| Q1 24 | $0.89 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $74.6M | $458.1M |
| Total DebtLower is stronger | — | $1.8B |
| Stockholders' EquityBook value | $1.3B | $1.4B |
| Total Assets | $1.7B | $3.3B |
| Debt / EquityLower = less leverage | — | 1.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $458.1M | ||
| Q3 25 | $65.1M | — | ||
| Q2 25 | $65.4M | — | ||
| Q1 25 | $49.9M | — | ||
| Q4 24 | $49.5M | — | ||
| Q3 24 | $73.7M | $121.2M | ||
| Q2 24 | $63.7M | $126.1M | ||
| Q1 24 | $60.3M | — |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $7.2M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $5.1M |
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $1.1B | $1.5B |
| Q4 25 | $1.7B | $3.3B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $2.0B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.6B | $1.5B |
| Q4 25 | — | 1.29× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $67.3M | $-161.1M |
| Free Cash FlowOCF − Capex | — | $-198.1M |
| FCF MarginFCF / Revenue | — | -109.3% |
| Capex IntensityCapex / Revenue | — | 20.4% |
| Cash ConversionOCF / Net Profit | 1.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-626.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.3M | $-161.1M | ||
| Q3 25 | $65.6M | — | ||
| Q2 25 | $47.3M | — | ||
| Q1 25 | $36.5M | — | ||
| Q4 24 | $52.3M | — | ||
| Q3 24 | $51.3M | $-233.7M | ||
| Q2 24 | $45.0M | $-58.4M | ||
| Q1 24 | $33.4M | $-44.8M |
| Q4 25 | — | $-198.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-299.8M | ||
| Q2 24 | — | $-68.7M | ||
| Q1 24 | — | $-60.3M |
| Q4 25 | — | -109.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -335.8% | ||
| Q2 24 | — | -66.0% | ||
| Q1 24 | — | -54.0% |
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.0% | ||
| Q2 24 | — | 9.9% | ||
| Q1 24 | — | 13.8% |
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | 1.15× | -0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
| Human Nutrition And Health | $166.1M | 63% |
| Animal Nutrition And Health | $61.2M | 23% |
| Specialty Products | $34.8M | 13% |
CLSK
Segment breakdown not available.
