vs
Side-by-side financial comparison of Bank First Corp (BFC) and PubMatic, Inc. (PUBM). Click either name above to swap in a different company.
PubMatic, Inc. is the larger business by last-quarter revenue ($62.6M vs $44.9M, roughly 1.4× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs -20.0%, a 65.8% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs -2.0%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $10.7M). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs -3.6%).
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.
PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.
BFC vs PUBM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $62.6M |
| Net Profit | $18.4M | $-12.5M |
| Gross Margin | — | 58.3% |
| Operating Margin | 51.0% | 17.3% |
| Net Margin | 45.8% | -20.0% |
| Revenue YoY | 12.1% | -2.0% |
| Net Profit YoY | 4.8% | -31.9% |
| EPS (diluted) | $1.87 | $-0.27 |
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 | — | $62.6M | ||
| Q4 25 | $44.9M | $80.0M | ||
| Q3 25 | $44.2M | $68.0M | ||
| Q2 25 | $41.6M | $71.1M | ||
| Q1 25 | $43.1M | $63.8M | ||
| Q4 24 | $40.1M | $85.5M | ||
| Q3 24 | $40.8M | $71.8M | ||
| Q2 24 | $38.9M | $67.3M |
| Q1 26 | — | $-12.5M | ||
| Q4 25 | $18.4M | — | ||
| Q3 25 | $18.0M | $-6.5M | ||
| Q2 25 | $16.9M | $-5.2M | ||
| Q1 25 | $18.2M | $-9.5M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $16.6M | $-912.0K | ||
| Q2 24 | $16.1M | $2.0M |
| Q1 26 | — | 58.3% | ||
| Q4 25 | — | 68.2% | ||
| Q3 25 | — | 62.6% | ||
| Q2 25 | — | 62.6% | ||
| Q1 25 | — | 59.9% | ||
| Q4 24 | — | 70.8% | ||
| Q3 24 | — | 64.5% | ||
| Q2 24 | — | 62.6% |
| Q1 26 | — | 17.3% | ||
| Q4 25 | 51.0% | 10.6% | ||
| Q3 25 | 50.8% | -12.4% | ||
| Q2 25 | 49.7% | -7.7% | ||
| Q1 25 | 51.3% | -18.6% | ||
| Q4 24 | 54.4% | 17.3% | ||
| Q3 24 | 50.7% | -1.9% | ||
| Q2 24 | 51.0% | -5.9% |
| Q1 26 | — | -20.0% | ||
| Q4 25 | 45.8% | — | ||
| Q3 25 | 40.7% | -9.5% | ||
| Q2 25 | 40.5% | -7.3% | ||
| Q1 25 | 42.3% | -14.9% | ||
| Q4 24 | 49.3% | — | ||
| Q3 24 | 40.6% | -1.3% | ||
| Q2 24 | 41.3% | 2.9% |
| Q1 26 | — | $-0.27 | ||
| Q4 25 | $1.87 | $0.14 | ||
| Q3 25 | $1.83 | $-0.14 | ||
| Q2 25 | $1.71 | $-0.11 | ||
| Q1 25 | $1.82 | $-0.20 | ||
| Q4 24 | $1.75 | $0.26 | ||
| Q3 24 | $1.65 | $-0.02 | ||
| Q2 24 | $1.59 | $0.04 |
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 | $144.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $251.0M |
| Total Assets | $4.5B | $659.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $144.9M | ||
| Q4 25 | $243.2M | $145.5M | ||
| Q3 25 | $126.2M | $136.5M | ||
| Q2 25 | $120.3M | $90.5M | ||
| Q1 25 | $300.9M | $101.8M | ||
| Q4 24 | $261.3M | $100.5M | ||
| Q3 24 | $204.4M | $78.9M | ||
| Q2 24 | $99.0M | $73.5M |
| Q1 26 | — | $251.0M | ||
| Q4 25 | $643.8M | $262.6M | ||
| Q3 25 | $628.1M | $245.1M | ||
| Q2 25 | $612.3M | $243.3M | ||
| Q1 25 | $648.4M | $275.6M | ||
| Q4 24 | $639.7M | $277.3M | ||
| Q3 24 | $628.9M | $263.2M | ||
| Q2 24 | $614.6M | $282.7M |
| Q1 26 | — | $659.4M | ||
| Q4 25 | $4.5B | $680.2M | ||
| Q3 25 | $4.4B | $676.2M | ||
| Q2 25 | $4.4B | $675.2M | ||
| Q1 25 | $4.5B | $668.6M | ||
| Q4 24 | $4.5B | $739.5M | ||
| Q3 24 | $4.3B | $689.1M | ||
| Q2 24 | $4.1B | $673.1M |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $51.0M | $10.7M |
| FCF MarginFCF / Revenue | 113.6% | 17.1% |
| Capex IntensityCapex / Revenue | 25.5% | — |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $63.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.3M | ||
| Q4 25 | $62.5M | $18.2M | ||
| Q3 25 | $15.5M | $32.4M | ||
| Q2 25 | $11.9M | $14.9M | ||
| Q1 25 | $6.2M | $15.6M | ||
| Q4 24 | $65.8M | $18.0M | ||
| Q3 24 | $18.8M | $19.1M | ||
| Q2 24 | $14.9M | $11.9M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | $51.0M | $11.3M | ||
| Q3 25 | $12.5M | $27.7M | ||
| Q2 25 | $8.2M | $13.6M | ||
| Q1 25 | $4.0M | $14.2M | ||
| Q4 24 | $58.6M | $13.7M | ||
| Q3 24 | $16.9M | $7.4M | ||
| Q2 24 | $13.7M | $11.2M |
| Q1 26 | — | 17.1% | ||
| Q4 25 | 113.6% | 14.1% | ||
| Q3 25 | 28.2% | 40.8% | ||
| Q2 25 | 19.8% | 19.1% | ||
| Q1 25 | 9.3% | 22.2% | ||
| Q4 24 | 146.3% | 16.1% | ||
| Q3 24 | 41.5% | 10.3% | ||
| Q2 24 | 35.3% | 16.7% |
| Q1 26 | — | — | ||
| Q4 25 | 25.5% | 8.6% | ||
| Q3 25 | 6.7% | 6.9% | ||
| Q2 25 | 8.7% | 1.9% | ||
| Q1 25 | 5.0% | 2.3% | ||
| Q4 24 | 18.0% | 5.1% | ||
| Q3 24 | 4.5% | 16.3% | ||
| Q2 24 | 3.1% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.40× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.93× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
