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Side-by-side financial comparison of Bank First Corp (BFC) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
Vanda Pharmaceuticals Inc. is the larger business by last-quarter revenue ($57.2M vs $44.9M, roughly 1.3× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs -246.8%, a 292.5% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs 7.6%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $-29.5M). Over the past eight quarters, Vanda Pharmaceuticals Inc.'s revenue compounded faster (9.8% 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.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
BFC vs VNDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $57.2M |
| Net Profit | $18.4M | $-141.2M |
| Gross Margin | — | — |
| Operating Margin | 51.0% | -70.5% |
| Net Margin | 45.8% | -246.8% |
| Revenue YoY | 12.1% | 7.6% |
| Net Profit YoY | 4.8% | -2774.3% |
| EPS (diluted) | $1.87 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $44.2M | $56.3M | ||
| Q2 25 | $41.6M | $52.6M | ||
| Q1 25 | $43.1M | $50.0M | ||
| Q4 24 | $40.1M | $53.2M | ||
| Q3 24 | $40.8M | $47.7M | ||
| Q2 24 | $38.9M | $50.5M | ||
| Q1 24 | $37.7M | $47.5M |
| Q4 25 | $18.4M | $-141.2M | ||
| Q3 25 | $18.0M | $-22.6M | ||
| Q2 25 | $16.9M | $-27.2M | ||
| Q1 25 | $18.2M | $-29.5M | ||
| Q4 24 | $17.5M | $-4.9M | ||
| Q3 24 | $16.6M | $-5.3M | ||
| Q2 24 | $16.1M | $-4.5M | ||
| Q1 24 | $15.4M | $-4.1M |
| Q4 25 | 51.0% | -70.5% | ||
| Q3 25 | 50.8% | -55.6% | ||
| Q2 25 | 49.7% | -73.2% | ||
| Q1 25 | 51.3% | -82.0% | ||
| Q4 24 | 54.4% | -19.3% | ||
| Q3 24 | 50.7% | -23.1% | ||
| Q2 24 | 51.0% | -20.1% | ||
| Q1 24 | 45.6% | -19.5% |
| Q4 25 | 45.8% | -246.8% | ||
| Q3 25 | 40.7% | -40.1% | ||
| Q2 25 | 40.5% | -51.7% | ||
| Q1 25 | 42.3% | -58.9% | ||
| Q4 24 | 49.3% | -9.2% | ||
| Q3 24 | 40.6% | -11.2% | ||
| Q2 24 | 41.3% | -9.0% | ||
| Q1 24 | 40.8% | -8.7% |
| Q4 25 | $1.87 | $-2.40 | ||
| Q3 25 | $1.83 | $-0.38 | ||
| Q2 25 | $1.71 | $-0.46 | ||
| Q1 25 | $1.82 | $-0.50 | ||
| Q4 24 | $1.75 | $-0.09 | ||
| Q3 24 | $1.65 | $-0.09 | ||
| Q2 24 | $1.59 | $-0.08 | ||
| Q1 24 | $1.51 | $-0.07 |
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 | $84.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $327.2M |
| Total Assets | $4.5B | $488.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $84.9M | ||
| Q3 25 | $126.2M | $70.0M | ||
| Q2 25 | $120.3M | $81.0M | ||
| Q1 25 | $300.9M | $111.8M | ||
| Q4 24 | $261.3M | $102.3M | ||
| Q3 24 | $204.4M | $100.5M | ||
| Q2 24 | $99.0M | $103.0M | ||
| Q1 24 | $83.4M | $125.2M |
| Q4 25 | $643.8M | $327.2M | ||
| Q3 25 | $628.1M | $466.0M | ||
| Q2 25 | $612.3M | $486.3M | ||
| Q1 25 | $648.4M | $511.4M | ||
| Q4 24 | $639.7M | $538.5M | ||
| Q3 24 | $628.9M | $541.2M | ||
| Q2 24 | $614.6M | $542.5M | ||
| Q1 24 | $609.3M | $544.0M |
| Q4 25 | $4.5B | $488.9M | ||
| Q3 25 | $4.4B | $601.1M | ||
| Q2 25 | $4.4B | $624.7M | ||
| Q1 25 | $4.5B | $631.9M | ||
| Q4 24 | $4.5B | $656.2M | ||
| Q3 24 | $4.3B | $645.1M | ||
| Q2 24 | $4.1B | $651.4M | ||
| Q1 24 | $4.1B | $652.7M |
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 | $-29.4M |
| Free Cash FlowOCF − Capex | $51.0M | $-29.5M |
| FCF MarginFCF / Revenue | 113.6% | -51.6% |
| Capex IntensityCapex / Revenue | 25.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $-29.4M | ||
| Q3 25 | $15.5M | $-31.6M | ||
| Q2 25 | $11.9M | $-15.3M | ||
| Q1 25 | $6.2M | $-33.1M | ||
| Q4 24 | $65.8M | $-1.8M | ||
| Q3 24 | $18.8M | $-14.6M | ||
| Q2 24 | $14.9M | $-6.9M | ||
| Q1 24 | $1.3M | $7.6M |
| Q4 25 | $51.0M | $-29.5M | ||
| Q3 25 | $12.5M | $-31.8M | ||
| Q2 25 | $8.2M | $-15.6M | ||
| Q1 25 | $4.0M | $-33.6M | ||
| Q4 24 | $58.6M | $-2.0M | ||
| Q3 24 | $16.9M | $-14.7M | ||
| Q2 24 | $13.7M | $-7.0M | ||
| Q1 24 | $551.0K | $7.6M |
| Q4 25 | 113.6% | -51.6% | ||
| Q3 25 | 28.2% | -56.5% | ||
| Q2 25 | 19.8% | -29.6% | ||
| Q1 25 | 9.3% | -67.1% | ||
| Q4 24 | 146.3% | -3.8% | ||
| Q3 24 | 41.5% | -30.9% | ||
| Q2 24 | 35.3% | -13.9% | ||
| Q1 24 | 1.5% | 15.9% |
| Q4 25 | 25.5% | 0.2% | ||
| Q3 25 | 6.7% | 0.3% | ||
| Q2 25 | 8.7% | 0.6% | ||
| Q1 25 | 5.0% | 0.9% | ||
| Q4 24 | 18.0% | 0.4% | ||
| Q3 24 | 4.5% | 0.3% | ||
| Q2 24 | 3.1% | 0.2% | ||
| Q1 24 | 2.1% | 0.0% |
| 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× | — | ||
| 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.
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
