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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $75.1M, roughly 1.3× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -7.0%, a 15.7% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 10.6%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs -4.9%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
BFS vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $100.0M |
| Net Profit | $6.5M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 65.4% | -10.7% |
| Net Margin | 8.7% | -7.0% |
| Revenue YoY | 10.6% | 14.5% |
| Net Profit YoY | -19.6% | 76.0% |
| EPS (diluted) | $0.15 | $-0.06 |
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 | $75.1M | $100.0M | ||
| Q3 25 | $72.0M | $161.9M | ||
| Q2 25 | $70.8M | $172.6M | ||
| Q1 25 | $71.9M | $111.4M | ||
| Q4 24 | $67.9M | $87.3M | ||
| Q3 24 | $67.3M | $150.5M | ||
| Q2 24 | $66.9M | $160.1M | ||
| Q1 24 | $66.7M | $110.6M |
| Q4 25 | $6.5M | $-7.0M | ||
| Q3 25 | $10.5M | $8.1M | ||
| Q2 25 | $10.7M | $16.0M | ||
| Q1 25 | $9.8M | $-6.0M | ||
| Q4 24 | $8.1M | $-29.2M | ||
| Q3 24 | $14.5M | $5.9M | ||
| Q2 24 | $14.4M | $13.3M | ||
| Q1 24 | $13.6M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 73.6% | 32.4% | ||
| Q2 24 | 74.2% | 33.1% | ||
| Q1 24 | 72.8% | 27.7% |
| Q4 25 | 65.4% | -10.7% | ||
| Q3 25 | 69.1% | 13.3% | ||
| Q2 25 | 68.7% | 14.3% | ||
| Q1 25 | 66.5% | -4.4% | ||
| Q4 24 | 82.9% | -14.9% | ||
| Q3 24 | 72.8% | 8.9% | ||
| Q2 24 | 75.0% | 12.5% | ||
| Q1 24 | 72.4% | -1.9% |
| Q4 25 | 8.7% | -7.0% | ||
| Q3 25 | 14.6% | 5.0% | ||
| Q2 25 | 15.1% | 9.3% | ||
| Q1 25 | 13.6% | -5.4% | ||
| Q4 24 | 11.9% | -33.4% | ||
| Q3 24 | 21.5% | 3.9% | ||
| Q2 24 | 21.6% | 8.3% | ||
| Q1 24 | 20.4% | -7.1% |
| Q4 25 | $0.15 | $-0.06 | ||
| Q3 25 | $0.32 | $0.07 | ||
| Q2 25 | $0.33 | $0.13 | ||
| Q1 25 | $0.29 | $-0.05 | ||
| Q4 24 | $0.22 | $-0.24 | ||
| Q3 24 | $0.48 | $0.05 | ||
| Q2 24 | $0.48 | $0.11 | ||
| Q1 24 | $0.45 | $-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 | $8.7M | — |
| Total DebtLower is stronger | $468.4M | $279.8M |
| Stockholders' EquityBook value | $307.8M | $405.9M |
| Total Assets | $2.2B | $823.2M |
| Debt / EquityLower = less leverage | 1.52× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | — | ||
| Q3 25 | $11.8M | — | ||
| Q2 25 | $5.3M | — | ||
| Q1 25 | $6.5M | — | ||
| Q4 24 | $10.3M | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $6.9M | — | ||
| Q1 24 | $7.1M | — |
| Q4 25 | $468.4M | $279.8M | ||
| Q3 25 | $1.6B | $281.1M | ||
| Q2 25 | $1.6B | $281.5M | ||
| Q1 25 | $1.5B | $306.9M | ||
| Q4 24 | $455.8M | $281.5M | ||
| Q3 24 | $1.5B | $282.8M | ||
| Q2 24 | $1.4B | $282.4M | ||
| Q1 24 | $1.4B | $282.8M |
| Q4 25 | $307.8M | $405.9M | ||
| Q3 25 | $316.6M | $408.4M | ||
| Q2 25 | $322.4M | $398.4M | ||
| Q1 25 | $328.4M | $381.1M | ||
| Q4 24 | $335.8M | $387.2M | ||
| Q3 24 | $341.8M | $416.6M | ||
| Q2 24 | $345.7M | $408.1M | ||
| Q1 24 | $347.1M | $391.8M |
| Q4 25 | $2.2B | $823.2M | ||
| Q3 25 | $2.2B | $844.4M | ||
| Q2 25 | $2.1B | $822.1M | ||
| Q1 25 | $2.1B | $824.6M | ||
| Q4 24 | $2.1B | $794.2M | ||
| Q3 24 | $2.1B | $853.4M | ||
| Q2 24 | $2.1B | $830.0M | ||
| Q1 24 | $2.0B | $808.6M |
| Q4 25 | 1.52× | 0.69× | ||
| Q3 25 | 5.02× | 0.69× | ||
| Q2 25 | 4.85× | 0.71× | ||
| Q1 25 | 4.70× | 0.81× | ||
| Q4 24 | 1.36× | 0.73× | ||
| Q3 24 | 4.37× | 0.68× | ||
| Q2 24 | 4.17× | 0.69× | ||
| Q1 24 | 4.06× | 0.72× |
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 | $99.8M | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $23.3M | ||
| Q3 25 | $20.6M | $51.0M | ||
| Q2 25 | $26.6M | $36.0M | ||
| Q1 25 | $30.4M | $-46.9M | ||
| Q4 24 | $121.2M | $6.2M | ||
| Q3 24 | $26.5M | $37.2M | ||
| Q2 24 | $32.1M | $52.4M | ||
| Q1 24 | $33.8M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | $-28.3M | $33.2M | ||
| Q2 24 | $-12.5M | $47.9M | ||
| Q1 24 | $-11.7M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | -42.1% | 22.1% | ||
| Q2 24 | -18.7% | 29.9% | ||
| Q1 24 | -17.6% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | 81.5% | 2.7% | ||
| Q2 24 | 66.7% | 2.8% | ||
| Q1 24 | 68.3% | 4.8% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | 6.29× | ||
| Q2 25 | 2.48× | 2.25× | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | 6.32× | ||
| Q2 24 | 2.22× | 3.95× | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
