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Side-by-side financial comparison of Bank First Corp (BFC) and Ellington Financial Inc. (EFC). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $44.9M, roughly 1.7× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 28.9%, a 16.9% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs 8.7%). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs 1.8%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
BFC vs EFC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $78.2M |
| Net Profit | $18.4M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 51.0% | 7.4% |
| Net Margin | 45.8% | 28.9% |
| Revenue YoY | 12.1% | 8.7% |
| Net Profit YoY | 4.8% | -26.2% |
| EPS (diluted) | $1.87 | $0.10 |
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 | $44.9M | $78.2M | ||
| Q3 25 | $44.2M | $82.8M | ||
| Q2 25 | $41.6M | $92.5M | ||
| Q1 25 | $43.1M | $82.9M | ||
| Q4 24 | $40.1M | $72.0M | ||
| Q3 24 | $40.8M | $67.0M | ||
| Q2 24 | $38.9M | $91.2M | ||
| Q1 24 | $37.7M | $75.5M |
| Q4 25 | $18.4M | $22.6M | ||
| Q3 25 | $18.0M | $29.5M | ||
| Q2 25 | $16.9M | $42.9M | ||
| Q1 25 | $18.2M | $31.6M | ||
| Q4 24 | $17.5M | $30.7M | ||
| Q3 24 | $16.6M | $16.2M | ||
| Q2 24 | $16.1M | $52.3M | ||
| Q1 24 | $15.4M | $26.9M |
| Q4 25 | 51.0% | 7.4% | ||
| Q3 25 | 50.8% | 31.1% | ||
| Q2 25 | 49.7% | 38.3% | ||
| Q1 25 | 51.3% | 37.3% | ||
| Q4 24 | 54.4% | 28.0% | ||
| Q3 24 | 50.7% | 24.0% | ||
| Q2 24 | 51.0% | 52.8% | ||
| Q1 24 | 45.6% | 42.2% |
| Q4 25 | 45.8% | 28.9% | ||
| Q3 25 | 40.7% | 35.7% | ||
| Q2 25 | 40.5% | 46.4% | ||
| Q1 25 | 42.3% | 38.2% | ||
| Q4 24 | 49.3% | 42.6% | ||
| Q3 24 | 40.6% | 24.1% | ||
| Q2 24 | 41.3% | 57.4% | ||
| Q1 24 | 40.8% | 35.6% |
| Q4 25 | $1.87 | $0.10 | ||
| Q3 25 | $1.83 | $0.29 | ||
| Q2 25 | $1.71 | $0.45 | ||
| Q1 25 | $1.82 | $0.35 | ||
| Q4 24 | $1.75 | $0.23 | ||
| Q3 24 | $1.65 | $0.19 | ||
| Q2 24 | $1.59 | $0.62 | ||
| Q1 24 | $1.51 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $243.2M | $201.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $1.8B |
| Total Assets | $4.5B | $19.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $201.9M | ||
| Q3 25 | $126.2M | $184.8M | ||
| Q2 25 | $120.3M | $211.0M | ||
| Q1 25 | $300.9M | $203.3M | ||
| Q4 24 | $261.3M | $192.4M | ||
| Q3 24 | $204.4M | $217.7M | ||
| Q2 24 | $99.0M | $198.5M | ||
| Q1 24 | $83.4M | $187.5M |
| Q4 25 | $643.8M | $1.8B | ||
| Q3 25 | $628.1M | $1.8B | ||
| Q2 25 | $612.3M | $1.7B | ||
| Q1 25 | $648.4M | $1.6B | ||
| Q4 24 | $639.7M | $1.6B | ||
| Q3 24 | $628.9M | $1.6B | ||
| Q2 24 | $614.6M | $1.6B | ||
| Q1 24 | $609.3M | $1.5B |
| Q4 25 | $4.5B | $19.4B | ||
| Q3 25 | $4.4B | $17.8B | ||
| Q2 25 | $4.4B | $17.1B | ||
| Q1 25 | $4.5B | $16.6B | ||
| Q4 24 | $4.5B | $16.3B | ||
| Q3 24 | $4.3B | $16.0B | ||
| Q2 24 | $4.1B | $15.1B | ||
| Q1 24 | $4.1B | $15.1B |
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 | $62.5M | $-925.5M |
| Free Cash FlowOCF − Capex | $51.0M | — |
| FCF MarginFCF / Revenue | 113.6% | — |
| Capex IntensityCapex / Revenue | 25.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 3.40× | -40.92× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $-925.5M | ||
| Q3 25 | $15.5M | $-290.4M | ||
| Q2 25 | $11.9M | $-210.5M | ||
| Q1 25 | $6.2M | $-126.4M | ||
| Q4 24 | $65.8M | $-430.5M | ||
| Q3 24 | $18.8M | $-141.7M | ||
| Q2 24 | $14.9M | $-88.6M | ||
| Q1 24 | $1.3M | $-59.5M |
| Q4 25 | $51.0M | — | ||
| Q3 25 | $12.5M | — | ||
| Q2 25 | $8.2M | — | ||
| Q1 25 | $4.0M | — | ||
| Q4 24 | $58.6M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $13.7M | — | ||
| Q1 24 | $551.0K | — |
| Q4 25 | 113.6% | — | ||
| Q3 25 | 28.2% | — | ||
| Q2 25 | 19.8% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 146.3% | — | ||
| Q3 24 | 41.5% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | 25.5% | 0.0% | ||
| Q3 25 | 6.7% | — | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 18.0% | 0.0% | ||
| Q3 24 | 4.5% | 0.0% | ||
| Q2 24 | 3.1% | 0.0% | ||
| Q1 24 | 2.1% | 0.0% |
| Q4 25 | 3.40× | -40.92× | ||
| Q3 25 | 0.86× | -9.84× | ||
| Q2 25 | 0.70× | -4.90× | ||
| Q1 25 | 0.34× | -3.99× | ||
| Q4 24 | 3.75× | -14.04× | ||
| Q3 24 | 1.13× | -8.76× | ||
| Q2 24 | 0.93× | -1.69× | ||
| Q1 24 | 0.09× | -2.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
