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Side-by-side financial comparison of CARLSMED, INC. (CARL) and LCNB CORP (LCNB). Click either name above to swap in a different company.
LCNB CORP is the larger business by last-quarter revenue ($23.9M vs $16.1M, roughly 1.5× CARLSMED, INC.). LCNB CORP runs the higher net margin — 23.7% vs 0.3%, a 23.4% gap on every dollar of revenue. On growth, CARLSMED, INC. posted the faster year-over-year revenue change (58.2% vs 5.1%).
LCNB Corp is a United States-based financial holding company that operates through its national bank subsidiary, providing a full suite of retail and commercial banking products and services including deposit accounts, various loan products, wealth management, and insurance solutions primarily to individual consumers, small and medium-sized enterprises and local community organizations across regional markets in Ohio.
CARL vs LCNB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $23.9M |
| Net Profit | $51.8K | $5.7M |
| Gross Margin | 77.1% | — |
| Operating Margin | -34.7% | 29.2% |
| Net Margin | 0.3% | 23.7% |
| Revenue YoY | 58.2% | 5.1% |
| Net Profit YoY | — | -7.6% |
| EPS (diluted) | — | $0.40 |
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.
| Q1 26 | $16.1M | — | ||
| Q4 25 | $15.2M | $23.9M | ||
| Q3 25 | $13.1M | $23.8M | ||
| Q2 25 | $12.1M | $22.8M | ||
| Q1 25 | — | $21.5M | ||
| Q4 24 | — | $22.7M | ||
| Q3 24 | — | $21.4M | ||
| Q2 24 | — | $19.3M |
| Q1 26 | $51.8K | — | ||
| Q4 25 | $82.5K | $5.7M | ||
| Q3 25 | $-8.5M | $6.9M | ||
| Q2 25 | $-6.8M | $5.9M | ||
| Q1 25 | — | $4.6M | ||
| Q4 24 | — | $6.1M | ||
| Q3 24 | — | $4.5M | ||
| Q2 24 | — | $925.0K |
| Q1 26 | 77.1% | — | ||
| Q4 25 | 76.5% | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 73.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -34.7% | — | ||
| Q4 25 | -38.0% | 29.2% | ||
| Q3 25 | -69.1% | 35.6% | ||
| Q2 25 | -53.8% | 31.6% | ||
| Q1 25 | — | 25.6% | ||
| Q4 24 | — | 32.9% | ||
| Q3 24 | — | 24.9% | ||
| Q2 24 | — | 4.9% |
| Q1 26 | 0.3% | — | ||
| Q4 25 | 0.5% | 23.7% | ||
| Q3 25 | -65.2% | 29.1% | ||
| Q2 25 | -56.0% | 26.0% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | — | 27.0% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 4.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.40 | ||
| Q3 25 | $-0.40 | $0.49 | ||
| Q2 25 | $-1.47 | $0.41 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | — | $0.44 | ||
| Q3 24 | — | $0.31 | ||
| Q2 24 | — | $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 | $97.0M | $21.6M |
| Total DebtLower is stronger | — | $104.4M |
| Stockholders' EquityBook value | — | $273.9M |
| Total Assets | $118.8M | $2.2B |
| Debt / EquityLower = less leverage | — | 0.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $97.0M | — | ||
| Q4 25 | $109.8M | $21.6M | ||
| Q3 25 | $115.4M | $35.9M | ||
| Q2 25 | $33.5M | $49.8M | ||
| Q1 25 | — | $37.7M | ||
| Q4 24 | — | $35.7M | ||
| Q3 24 | — | $39.4M | ||
| Q2 24 | — | $34.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $104.4M | ||
| Q3 25 | $15.4M | $104.7M | ||
| Q2 25 | $15.4M | $105.0M | ||
| Q1 25 | — | $104.6M | ||
| Q4 24 | — | $155.2M | ||
| Q3 24 | — | $155.7M | ||
| Q2 24 | — | $162.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $273.9M | ||
| Q3 25 | $106.7M | $269.9M | ||
| Q2 25 | $-83.1M | $263.5M | ||
| Q1 25 | — | $258.7M | ||
| Q4 24 | — | $253.0M | ||
| Q3 24 | — | $253.2M | ||
| Q2 24 | — | $245.2M |
| Q1 26 | $118.8M | — | ||
| Q4 25 | $130.1M | $2.2B | ||
| Q3 25 | $134.9M | $2.2B | ||
| Q2 25 | $53.3M | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.38× | ||
| Q3 25 | 0.14× | 0.39× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.61× | ||
| Q2 24 | — | 0.66× |
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 | — | $34.4M |
| Free Cash FlowOCF − Capex | — | $33.4M |
| FCF MarginFCF / Revenue | — | 140.2% |
| Capex IntensityCapex / Revenue | — | 4.0% |
| Cash ConversionOCF / Net Profit | — | 6.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | $54.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $34.4M | ||
| Q3 25 | $-8.5M | $14.0M | ||
| Q2 25 | $-15.2M | $5.5M | ||
| Q1 25 | — | $2.2M | ||
| Q4 24 | — | $93.2M | ||
| Q3 24 | — | $11.9M | ||
| Q2 24 | — | $54.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $33.4M | ||
| Q3 25 | $-8.6M | $13.7M | ||
| Q2 25 | $-15.6M | $5.2M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | — | $89.4M | ||
| Q3 24 | — | $10.5M | ||
| Q2 24 | — | $53.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 140.2% | ||
| Q3 25 | -65.9% | 57.4% | ||
| Q2 25 | -129.2% | 23.0% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | 394.0% | ||
| Q3 24 | — | 49.0% | ||
| Q2 24 | — | 278.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.0% | ||
| Q3 25 | 1.2% | 1.3% | ||
| Q2 25 | 3.4% | 1.0% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 16.7% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.08× | ||
| Q3 25 | — | 2.02× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 15.23× | ||
| Q3 24 | — | 2.63× | ||
| Q2 24 | — | 59.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
