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Side-by-side financial comparison of Bank First Corp (BFC) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $44.9M, roughly 1.2× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 4.6%, a 41.2% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 12.1%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs 9.1%).
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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
BFC vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $55.4M |
| Net Profit | $18.4M | $2.5M |
| Gross Margin | — | 27.8% |
| Operating Margin | 51.0% | 6.8% |
| Net Margin | 45.8% | 4.6% |
| Revenue YoY | 12.1% | 18.0% |
| Net Profit YoY | 4.8% | 1688.1% |
| EPS (diluted) | $1.87 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $44.2M | $57.1M | ||
| Q2 25 | $41.6M | $53.9M | ||
| Q1 25 | $43.1M | $46.1M | ||
| Q4 24 | $40.1M | $46.9M | ||
| Q3 24 | $40.8M | $46.1M | ||
| Q2 24 | $38.9M | $49.2M | ||
| Q1 24 | $37.7M | $44.6M |
| Q4 25 | $18.4M | $2.5M | ||
| Q3 25 | $18.0M | $3.5M | ||
| Q2 25 | $16.9M | $4.2M | ||
| Q1 25 | $18.2M | $3.5M | ||
| Q4 24 | $17.5M | $-160.0K | ||
| Q3 24 | $16.6M | $3.0M | ||
| Q2 24 | $16.1M | $3.8M | ||
| Q1 24 | $15.4M | $2.4M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | — | 27.0% | ||
| Q1 24 | — | 25.8% |
| Q4 25 | 51.0% | 6.8% | ||
| Q3 25 | 50.8% | 8.8% | ||
| Q2 25 | 49.7% | 10.8% | ||
| Q1 25 | 51.3% | 3.4% | ||
| Q4 24 | 54.4% | 1.5% | ||
| Q3 24 | 50.7% | 9.1% | ||
| Q2 24 | 51.0% | 11.0% | ||
| Q1 24 | 45.6% | 8.0% |
| Q4 25 | 45.8% | 4.6% | ||
| Q3 25 | 40.7% | 6.2% | ||
| Q2 25 | 40.5% | 7.9% | ||
| Q1 25 | 42.3% | 7.7% | ||
| Q4 24 | 49.3% | -0.3% | ||
| Q3 24 | 40.6% | 6.5% | ||
| Q2 24 | 41.3% | 7.7% | ||
| Q1 24 | 40.8% | 5.4% |
| Q4 25 | $1.87 | $0.15 | ||
| Q3 25 | $1.83 | $0.23 | ||
| Q2 25 | $1.71 | $0.28 | ||
| Q1 25 | $1.82 | $0.23 | ||
| Q4 24 | $1.75 | $0.00 | ||
| Q3 24 | $1.65 | $0.19 | ||
| Q2 24 | $1.59 | $0.25 | ||
| Q1 24 | $1.51 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $85.8M |
| Total Assets | $4.5B | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $5.6M | ||
| Q3 25 | $126.2M | $23.0M | ||
| Q2 25 | $120.3M | $21.2M | ||
| Q1 25 | $300.9M | $19.4M | ||
| Q4 24 | $261.3M | $16.7M | ||
| Q3 24 | $204.4M | $20.6M | ||
| Q2 24 | $99.0M | $14.6M | ||
| Q1 24 | $83.4M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $643.8M | $85.8M | ||
| Q3 25 | $628.1M | $82.8M | ||
| Q2 25 | $612.3M | $78.7M | ||
| Q1 25 | $648.4M | $74.2M | ||
| Q4 24 | $639.7M | $71.9M | ||
| Q3 24 | $628.9M | $71.5M | ||
| Q2 24 | $614.6M | $68.0M | ||
| Q1 24 | $609.3M | $63.5M |
| Q4 25 | $4.5B | $105.6M | ||
| Q3 25 | $4.4B | $109.5M | ||
| Q2 25 | $4.4B | $98.3M | ||
| Q1 25 | $4.5B | $93.7M | ||
| Q4 24 | $4.5B | $90.5M | ||
| Q3 24 | $4.3B | $91.3M | ||
| Q2 24 | $4.1B | $84.9M | ||
| Q1 24 | $4.1B | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $51.0M | $-17.4M |
| FCF MarginFCF / Revenue | 113.6% | -31.5% |
| Capex IntensityCapex / Revenue | 25.5% | 31.9% |
| Cash ConversionOCF / Net Profit | 3.40× | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $267.0K | ||
| Q3 25 | $15.5M | $6.9M | ||
| Q2 25 | $11.9M | $3.9M | ||
| Q1 25 | $6.2M | $-150.0K | ||
| Q4 24 | $65.8M | $-2.6M | ||
| Q3 24 | $18.8M | $7.5M | ||
| Q2 24 | $14.9M | $6.5M | ||
| Q1 24 | $1.3M | $1.5M |
| Q4 25 | $51.0M | $-17.4M | ||
| Q3 25 | $12.5M | $1.8M | ||
| Q2 25 | $8.2M | $1.6M | ||
| Q1 25 | $4.0M | $-2.4M | ||
| Q4 24 | $58.6M | $-3.8M | ||
| Q3 24 | $16.9M | $5.9M | ||
| Q2 24 | $13.7M | $5.1M | ||
| Q1 24 | $551.0K | $-923.0K |
| Q4 25 | 113.6% | -31.5% | ||
| Q3 25 | 28.2% | 3.1% | ||
| Q2 25 | 19.8% | 3.0% | ||
| Q1 25 | 9.3% | -5.1% | ||
| Q4 24 | 146.3% | -8.2% | ||
| Q3 24 | 41.5% | 12.8% | ||
| Q2 24 | 35.3% | 10.4% | ||
| Q1 24 | 1.5% | -2.1% |
| Q4 25 | 25.5% | 31.9% | ||
| Q3 25 | 6.7% | 9.0% | ||
| Q2 25 | 8.7% | 4.3% | ||
| Q1 25 | 5.0% | 4.8% | ||
| Q4 24 | 18.0% | 2.7% | ||
| Q3 24 | 4.5% | 3.3% | ||
| Q2 24 | 3.1% | 2.9% | ||
| Q1 24 | 2.1% | 5.5% |
| Q4 25 | 3.40× | 0.11× | ||
| Q3 25 | 0.86× | 1.96× | ||
| Q2 25 | 0.70× | 0.92× | ||
| Q1 25 | 0.34× | -0.04× | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | 2.50× | ||
| Q2 24 | 0.93× | 1.73× | ||
| Q1 24 | 0.09× | 0.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
