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Side-by-side financial comparison of Bank First Corp (BFC) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $44.9M, roughly 1.6× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 2.0%, a 43.8% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs -1.8%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $33.5M). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
BFC vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $71.1M |
| Net Profit | $18.4M | $1.4M |
| Gross Margin | — | — |
| Operating Margin | 51.0% | 13.1% |
| Net Margin | 45.8% | 2.0% |
| Revenue YoY | 12.1% | -1.8% |
| Net Profit YoY | 4.8% | -75.2% |
| EPS (diluted) | $1.87 | — |
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 | $71.1M | ||
| Q3 25 | $44.2M | $73.2M | ||
| Q2 25 | $41.6M | $72.8M | ||
| Q1 25 | $43.1M | $74.5M | ||
| Q4 24 | $40.1M | $72.5M | ||
| Q3 24 | $40.8M | $78.5M | ||
| Q2 24 | $38.9M | $78.5M | ||
| Q1 24 | $37.7M | $78.3M |
| Q4 25 | $18.4M | $1.4M | ||
| Q3 25 | $18.0M | $4.0M | ||
| Q2 25 | $16.9M | $4.7M | ||
| Q1 25 | $18.2M | $-2.0M | ||
| Q4 24 | $17.5M | $5.8M | ||
| Q3 24 | $16.6M | $966.0K | ||
| Q2 24 | $16.1M | $3.7M | ||
| Q1 24 | $15.4M | $-3.4M |
| Q4 25 | 51.0% | 13.1% | ||
| Q3 25 | 50.8% | 25.0% | ||
| Q2 25 | 49.7% | 19.3% | ||
| Q1 25 | 51.3% | 7.2% | ||
| Q4 24 | 54.4% | 5.9% | ||
| Q3 24 | 50.7% | 19.4% | ||
| Q2 24 | 51.0% | 20.6% | ||
| Q1 24 | 45.6% | 5.8% |
| Q4 25 | 45.8% | 2.0% | ||
| Q3 25 | 40.7% | 5.4% | ||
| Q2 25 | 40.5% | 6.4% | ||
| Q1 25 | 42.3% | -2.6% | ||
| Q4 24 | 49.3% | 8.0% | ||
| Q3 24 | 40.6% | 1.2% | ||
| Q2 24 | 41.3% | 4.7% | ||
| Q1 24 | 40.8% | -4.3% |
| Q4 25 | $1.87 | — | ||
| Q3 25 | $1.83 | — | ||
| Q2 25 | $1.71 | — | ||
| Q1 25 | $1.82 | — | ||
| Q4 24 | $1.75 | — | ||
| Q3 24 | $1.65 | — | ||
| Q2 24 | $1.59 | — | ||
| Q1 24 | $1.51 | — |
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 | $118.7M |
| Total DebtLower is stronger | — | $432.2M |
| Stockholders' EquityBook value | $643.8M | $452.4M |
| Total Assets | $4.5B | $582.5M |
| Debt / EquityLower = less leverage | — | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $118.7M | ||
| Q3 25 | $126.2M | $107.5M | ||
| Q2 25 | $120.3M | $94.3M | ||
| Q1 25 | $300.9M | $89.1M | ||
| Q4 24 | $261.3M | $96.6M | ||
| Q3 24 | $204.4M | $83.8M | ||
| Q2 24 | $99.0M | $66.1M | ||
| Q1 24 | $83.4M | $82.1M |
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
| Q4 25 | $643.8M | $452.4M | ||
| Q3 25 | $628.1M | $448.1M | ||
| Q2 25 | $612.3M | $442.4M | ||
| Q1 25 | $648.4M | $433.5M | ||
| Q4 24 | $639.7M | $429.5M | ||
| Q3 24 | $628.9M | $423.1M | ||
| Q2 24 | $614.6M | $418.4M | ||
| Q1 24 | $609.3M | $412.0M |
| Q4 25 | $4.5B | $582.5M | ||
| Q3 25 | $4.4B | $582.2M | ||
| Q2 25 | $4.4B | $574.8M | ||
| Q1 25 | $4.5B | $571.4M | ||
| Q4 24 | $4.5B | $581.6M | ||
| Q3 24 | $4.3B | $578.6M | ||
| Q2 24 | $4.1B | $571.4M | ||
| Q1 24 | $4.1B | $566.7M |
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | $51.0M | $33.5M |
| FCF MarginFCF / Revenue | 113.6% | 47.1% |
| Capex IntensityCapex / Revenue | 25.5% | 10.4% |
| Cash ConversionOCF / Net Profit | 3.40× | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $40.9M | ||
| Q3 25 | $15.5M | $17.7M | ||
| Q2 25 | $11.9M | $4.6M | ||
| Q1 25 | $6.2M | $5.7M | ||
| Q4 24 | $65.8M | $59.7M | ||
| Q3 24 | $18.8M | $17.6M | ||
| Q2 24 | $14.9M | $15.9M | ||
| Q1 24 | $1.3M | $9.4M |
| Q4 25 | $51.0M | $33.5M | ||
| Q3 25 | $12.5M | $16.4M | ||
| Q2 25 | $8.2M | $2.9M | ||
| Q1 25 | $4.0M | $4.0M | ||
| Q4 24 | $58.6M | $53.0M | ||
| Q3 24 | $16.9M | $16.3M | ||
| Q2 24 | $13.7M | $14.0M | ||
| Q1 24 | $551.0K | $6.8M |
| Q4 25 | 113.6% | 47.1% | ||
| Q3 25 | 28.2% | 22.4% | ||
| Q2 25 | 19.8% | 4.0% | ||
| Q1 25 | 9.3% | 5.3% | ||
| Q4 24 | 146.3% | 73.2% | ||
| Q3 24 | 41.5% | 20.8% | ||
| Q2 24 | 35.3% | 17.8% | ||
| Q1 24 | 1.5% | 8.6% |
| Q4 25 | 25.5% | 10.4% | ||
| Q3 25 | 6.7% | 1.8% | ||
| Q2 25 | 8.7% | 2.2% | ||
| Q1 25 | 5.0% | 2.3% | ||
| Q4 24 | 18.0% | 9.1% | ||
| Q3 24 | 4.5% | 1.7% | ||
| Q2 24 | 3.1% | 2.4% | ||
| Q1 24 | 2.1% | 3.3% |
| Q4 25 | 3.40× | 28.39× | ||
| Q3 25 | 0.86× | 4.45× | ||
| Q2 25 | 0.70× | 0.97× | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | 10.28× | ||
| Q3 24 | 1.13× | 18.22× | ||
| Q2 24 | 0.93× | 4.29× | ||
| Q1 24 | 0.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
