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Side-by-side financial comparison of Bank First Corp (BFC) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $44.9M, roughly 1.7× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs -178.3%, a 224.1% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs 0.4%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $23.2M). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
BFC vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $78.6M |
| Net Profit | $18.4M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 51.0% | -182.2% |
| Net Margin | 45.8% | -178.3% |
| Revenue YoY | 12.1% | 0.4% |
| Net Profit YoY | 4.8% | -3304.1% |
| EPS (diluted) | $1.87 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $44.2M | $77.7M | ||
| Q2 25 | $41.6M | $75.6M | ||
| Q1 25 | $43.1M | $77.3M | ||
| Q4 24 | $40.1M | $78.3M | ||
| Q3 24 | $40.8M | $79.1M | ||
| Q2 24 | $38.9M | $74.9M | ||
| Q1 24 | $37.7M | $80.7M |
| Q4 25 | $18.4M | $-140.1M | ||
| Q3 25 | $18.0M | $-6.4M | ||
| Q2 25 | $16.9M | $-102.3M | ||
| Q1 25 | $18.2M | $-7.9M | ||
| Q4 24 | $17.5M | $-4.1M | ||
| Q3 24 | $16.6M | $3.2M | ||
| Q2 24 | $16.1M | $-4.1M | ||
| Q1 24 | $15.4M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 51.0% | -182.2% | ||
| Q3 25 | 50.8% | -3.9% | ||
| Q2 25 | 49.7% | -138.7% | ||
| Q1 25 | 51.3% | -4.7% | ||
| Q4 24 | 54.4% | -1.5% | ||
| Q3 24 | 50.7% | -0.9% | ||
| Q2 24 | 51.0% | -4.6% | ||
| Q1 24 | 45.6% | -3.1% |
| Q4 25 | 45.8% | -178.3% | ||
| Q3 25 | 40.7% | -8.3% | ||
| Q2 25 | 40.5% | -135.2% | ||
| Q1 25 | 42.3% | -10.3% | ||
| Q4 24 | 49.3% | -5.3% | ||
| Q3 24 | 40.6% | 4.1% | ||
| Q2 24 | 41.3% | -5.4% | ||
| Q1 24 | 40.8% | -6.5% |
| Q4 25 | $1.87 | $-1.68 | ||
| Q3 25 | $1.83 | $-0.08 | ||
| Q2 25 | $1.71 | $-1.15 | ||
| Q1 25 | $1.82 | $-0.09 | ||
| Q4 24 | $1.75 | $-0.04 | ||
| Q3 24 | $1.65 | $0.03 | ||
| Q2 24 | $1.59 | $-0.04 | ||
| Q1 24 | $1.51 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $643.8M | $484.4M |
| Total Assets | $4.5B | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $115.7M | ||
| Q3 25 | $126.2M | $95.7M | ||
| Q2 25 | $120.3M | $162.6M | ||
| Q1 25 | $300.9M | $165.5M | ||
| Q4 24 | $261.3M | $189.5M | ||
| Q3 24 | $204.4M | $168.7M | ||
| Q2 24 | $99.0M | $147.1M | ||
| Q1 24 | $83.4M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $643.8M | $484.4M | ||
| Q3 25 | $628.1M | $616.9M | ||
| Q2 25 | $612.3M | $633.7M | ||
| Q1 25 | $648.4M | $755.7M | ||
| Q4 24 | $639.7M | $761.3M | ||
| Q3 24 | $628.9M | $754.7M | ||
| Q2 24 | $614.6M | $815.4M | ||
| Q1 24 | $609.3M | $813.8M |
| Q4 25 | $4.5B | $1.2B | ||
| Q3 25 | $4.4B | $1.3B | ||
| Q2 25 | $4.4B | $1.4B | ||
| Q1 25 | $4.5B | $1.5B | ||
| Q4 24 | $4.5B | $1.6B | ||
| Q3 24 | $4.3B | $1.6B | ||
| Q2 24 | $4.1B | $1.5B | ||
| Q1 24 | $4.1B | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $51.0M | $23.2M |
| FCF MarginFCF / Revenue | 113.6% | 29.6% |
| Capex IntensityCapex / Revenue | 25.5% | 0.1% |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $23.3M | ||
| Q3 25 | $15.5M | $32.2M | ||
| Q2 25 | $11.9M | $33.1M | ||
| Q1 25 | $6.2M | $2.5M | ||
| Q4 24 | $65.8M | $34.3M | ||
| Q3 24 | $18.8M | $60.1M | ||
| Q2 24 | $14.9M | $31.0M | ||
| Q1 24 | $1.3M | $24.8M |
| Q4 25 | $51.0M | $23.2M | ||
| Q3 25 | $12.5M | $32.1M | ||
| Q2 25 | $8.2M | $33.0M | ||
| Q1 25 | $4.0M | $2.4M | ||
| Q4 24 | $58.6M | $34.0M | ||
| Q3 24 | $16.9M | $59.8M | ||
| Q2 24 | $13.7M | $30.5M | ||
| Q1 24 | $551.0K | $24.7M |
| Q4 25 | 113.6% | 29.6% | ||
| Q3 25 | 28.2% | 41.3% | ||
| Q2 25 | 19.8% | 43.6% | ||
| Q1 25 | 9.3% | 3.0% | ||
| Q4 24 | 146.3% | 43.5% | ||
| Q3 24 | 41.5% | 75.6% | ||
| Q2 24 | 35.3% | 40.7% | ||
| Q1 24 | 1.5% | 30.6% |
| Q4 25 | 25.5% | 0.1% | ||
| Q3 25 | 6.7% | 0.2% | ||
| Q2 25 | 8.7% | 0.1% | ||
| Q1 25 | 5.0% | 0.2% | ||
| Q4 24 | 18.0% | 0.3% | ||
| Q3 24 | 4.5% | 0.3% | ||
| Q2 24 | 3.1% | 0.6% | ||
| Q1 24 | 2.1% | 0.1% |
| Q4 25 | 3.40× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | 18.52× | ||
| Q2 24 | 0.93× | — | ||
| 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.
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
