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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Four Corners Property Trust, Inc. (FCPT). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $78.2M, roughly 1.1× Four Corners Property Trust, Inc.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs 6.8%, a 32.0% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 9.4%).
BillionToOne, Inc. is a life sciences and molecular diagnostics firm developing high-precision genetic testing solutions. Its core offerings include non-invasive prenatal tests, oncology diagnostics, and rare disease screening, serving clinical providers and patients mainly in North America.
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
BLLN vs FCPT — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $78.2M |
| Net Profit | $5.7M | $30.4M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | 55.3% |
| Net Margin | 6.8% | 38.8% |
| Revenue YoY | 117.4% | 9.4% |
| Net Profit YoY | 138.3% | 16.0% |
| EPS (diluted) | $0.10 | $0.28 |
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.
| Q1 26 | — | $78.2M | ||
| Q4 25 | — | $75.7M | ||
| Q3 25 | $83.5M | $74.1M | ||
| Q2 25 | — | $72.8M | ||
| Q1 25 | — | $71.5M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | $38.4M | $66.8M | ||
| Q2 24 | — | $66.5M |
| Q1 26 | — | $30.4M | ||
| Q4 25 | — | $29.4M | ||
| Q3 25 | $5.7M | $28.8M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | — | $26.2M | ||
| Q4 24 | — | $26.2M | ||
| Q3 24 | $-14.9M | $25.6M | ||
| Q2 24 | — | $24.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 55.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -32.9% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 38.8% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | 6.8% | 38.9% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 36.6% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | -38.8% | 38.3% | ||
| Q2 24 | — | 37.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | — | $0.27 | ||
| Q3 25 | $0.10 | $0.28 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.26 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | $-1.47 | $0.27 | ||
| Q2 24 | — | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $195.2M | $29.6M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $1.7B |
| Total Assets | $327.5M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.6M | ||
| Q4 25 | — | $12.1M | ||
| Q3 25 | $195.2M | $6.7M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $22.3M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | — | $44.5M | ||
| Q2 24 | — | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $55.0M | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $-239.5M | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $-242.9M | $1.4B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $327.5M | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.79× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.84× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.92× |
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 | $13.8M | — |
| Free Cash FlowOCF − Capex | $6.5M | — |
| FCF MarginFCF / Revenue | 7.7% | — |
| Capex IntensityCapex / Revenue | 8.8% | — |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $192.3M | ||
| Q3 25 | $13.8M | $48.9M | ||
| Q2 25 | — | $43.8M | ||
| Q1 25 | — | $51.6M | ||
| Q4 24 | — | $144.1M | ||
| Q3 24 | — | $43.4M | ||
| Q2 24 | — | $39.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.53× | ||
| Q3 25 | 2.42× | 1.70× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 5.51× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLLN
| Prenatal | $74.1M | 89% |
| Oncology | $8.7M | 10% |
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
