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Side-by-side financial comparison of Bank First Corp (BFC) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $44.9M, roughly 1.4× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 20.0%, a 25.8% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 12.1%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $15.8M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
BFC vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $60.9M |
| Net Profit | $18.4M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | 51.0% | 1.5% |
| Net Margin | 45.8% | 20.0% |
| Revenue YoY | 12.1% | 21.8% |
| Net Profit YoY | 4.8% | 535.7% |
| EPS (diluted) | $1.87 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $44.2M | $41.9M | ||
| Q2 25 | $41.6M | $44.0M | ||
| Q1 25 | $43.1M | $99.0M | ||
| Q4 24 | $40.1M | $50.0M | ||
| Q3 24 | $40.8M | $70.1M | ||
| Q2 24 | $38.9M | $12.2M | ||
| Q1 24 | $37.7M | $15.9M |
| Q4 25 | $18.4M | $12.2M | ||
| Q3 25 | $18.0M | $-1.5M | ||
| Q2 25 | $16.9M | $1.5M | ||
| Q1 25 | $18.2M | $3.0M | ||
| Q4 24 | $17.5M | $1.9M | ||
| Q3 24 | $16.6M | $2.6M | ||
| Q2 24 | $16.1M | $1.4M | ||
| Q1 24 | $15.4M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 51.0% | 1.5% | ||
| Q3 25 | 50.8% | -2.2% | ||
| Q2 25 | 49.7% | 5.1% | ||
| Q1 25 | 51.3% | 4.2% | ||
| Q4 24 | 54.4% | 0.0% | ||
| Q3 24 | 50.7% | 5.4% | ||
| Q2 24 | 51.0% | 14.0% | ||
| Q1 24 | 45.6% | 1.6% |
| Q4 25 | 45.8% | 20.0% | ||
| Q3 25 | 40.7% | -3.6% | ||
| Q2 25 | 40.5% | 3.4% | ||
| Q1 25 | 42.3% | 3.0% | ||
| Q4 24 | 49.3% | 3.8% | ||
| Q3 24 | 40.6% | 3.8% | ||
| Q2 24 | 41.3% | 11.5% | ||
| Q1 24 | 40.8% | 0.1% |
| Q4 25 | $1.87 | $0.44 | ||
| Q3 25 | $1.83 | $-0.06 | ||
| Q2 25 | $1.71 | $0.06 | ||
| Q1 25 | $1.82 | $0.12 | ||
| Q4 24 | $1.75 | $0.08 | ||
| Q3 24 | $1.65 | $0.10 | ||
| Q2 24 | $1.59 | $0.06 | ||
| Q1 24 | $1.51 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $76.6M |
| Total Assets | $4.5B | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $85.5M | ||
| Q3 25 | $126.2M | $70.7M | ||
| Q2 25 | $120.3M | — | ||
| Q1 25 | $300.9M | — | ||
| Q4 24 | $261.3M | $23.2M | ||
| Q3 24 | $204.4M | $46.4M | ||
| Q2 24 | $99.0M | $8.3M | ||
| Q1 24 | $83.4M | $14.4M |
| Q4 25 | $643.8M | $76.6M | ||
| Q3 25 | $628.1M | $63.4M | ||
| Q2 25 | $612.3M | $9.5M | ||
| Q1 25 | $648.4M | $9.4M | ||
| Q4 24 | $639.7M | $7.1M | ||
| Q3 24 | $628.9M | $7.7M | ||
| Q2 24 | $614.6M | $5.2M | ||
| Q1 24 | $609.3M | $3.7M |
| Q4 25 | $4.5B | $184.9M | ||
| Q3 25 | $4.4B | $165.4M | ||
| Q2 25 | $4.4B | $139.5M | ||
| Q1 25 | $4.5B | $113.5M | ||
| Q4 24 | $4.5B | $96.6M | ||
| Q3 24 | $4.3B | $67.3M | ||
| Q2 24 | $4.1B | $28.9M | ||
| Q1 24 | $4.1B | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $51.0M | $15.8M |
| FCF MarginFCF / Revenue | 113.6% | 25.9% |
| Capex IntensityCapex / Revenue | 25.5% | 0.9% |
| Cash ConversionOCF / Net Profit | 3.40× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $16.3M | ||
| Q3 25 | $15.5M | $-18.4M | ||
| Q2 25 | $11.9M | $16.3M | ||
| Q1 25 | $6.2M | $20.6M | ||
| Q4 24 | $65.8M | $-21.6M | ||
| Q3 24 | $18.8M | $38.6M | ||
| Q2 24 | $14.9M | $-4.3M | ||
| Q1 24 | $1.3M | $2.6M |
| Q4 25 | $51.0M | $15.8M | ||
| Q3 25 | $12.5M | $-24.9M | ||
| Q2 25 | $8.2M | $5.4M | ||
| Q1 25 | $4.0M | $5.8M | ||
| Q4 24 | $58.6M | $-28.4M | ||
| Q3 24 | $16.9M | $38.6M | ||
| Q2 24 | $13.7M | $-6.0M | ||
| Q1 24 | $551.0K | $2.6M |
| Q4 25 | 113.6% | 25.9% | ||
| Q3 25 | 28.2% | -59.3% | ||
| Q2 25 | 19.8% | 12.3% | ||
| Q1 25 | 9.3% | 5.8% | ||
| Q4 24 | 146.3% | -56.7% | ||
| Q3 24 | 41.5% | 55.1% | ||
| Q2 24 | 35.3% | -49.4% | ||
| Q1 24 | 1.5% | 16.4% |
| Q4 25 | 25.5% | 0.9% | ||
| Q3 25 | 6.7% | 15.3% | ||
| Q2 25 | 8.7% | 24.8% | ||
| Q1 25 | 5.0% | 15.0% | ||
| Q4 24 | 18.0% | 13.4% | ||
| Q3 24 | 4.5% | 0.1% | ||
| Q2 24 | 3.1% | 13.8% | ||
| Q1 24 | 2.1% | 0.2% |
| Q4 25 | 3.40× | 1.34× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.70× | 11.02× | ||
| Q1 25 | 0.34× | 6.93× | ||
| Q4 24 | 3.75× | -11.32× | ||
| Q3 24 | 1.13× | 14.60× | ||
| Q2 24 | 0.93× | -3.09× | ||
| Q1 24 | 0.09× | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
