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Side-by-side financial comparison of CARLSMED, INC. (CARL) and YORK WATER CO (YORW). Click either name above to swap in a different company.
YORK WATER CO is the larger business by last-quarter revenue ($19.4M vs $16.1M, roughly 1.2× CARLSMED, INC.). YORK WATER CO runs the higher net margin — 26.7% vs 0.3%, a 26.4% gap on every dollar of revenue. On growth, CARLSMED, INC. posted the faster year-over-year revenue change (58.2% vs 3.2%).
The York Water Company is an investor-owned, public utility company based in York, Pennsylvania and operating throughout Pennsylvania. The company was founded in 1816 by a group of local businessmen concerned about fire protection.
CARL vs YORW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $19.4M |
| Net Profit | $51.8K | $5.2M |
| Gross Margin | 77.1% | — |
| Operating Margin | -34.7% | 33.2% |
| Net Margin | 0.3% | 26.7% |
| Revenue YoY | 58.2% | 3.2% |
| Net Profit YoY | — | 0.5% |
| EPS (diluted) | — | $0.36 |
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 | $19.4M | ||
| Q3 25 | $13.1M | $20.2M | ||
| Q2 25 | $12.1M | $19.1M | ||
| Q1 25 | — | $18.3M | ||
| Q4 24 | — | $18.8M | ||
| Q3 24 | — | $19.6M | ||
| Q2 24 | — | $18.6M |
| Q1 26 | $51.8K | — | ||
| Q4 25 | $82.5K | $5.2M | ||
| Q3 25 | $-8.5M | $6.2M | ||
| Q2 25 | $-6.8M | $5.1M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | — | $5.9M | ||
| Q2 24 | — | $5.0M |
| 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% | 33.2% | ||
| Q3 25 | -69.1% | 39.1% | ||
| Q2 25 | -53.8% | 37.1% | ||
| Q1 25 | — | 34.3% | ||
| Q4 24 | — | 35.8% | ||
| Q3 24 | — | 41.1% | ||
| Q2 24 | — | 37.9% |
| Q1 26 | 0.3% | — | ||
| Q4 25 | 0.5% | 26.7% | ||
| Q3 25 | -65.2% | 30.6% | ||
| Q2 25 | -56.0% | 26.5% | ||
| Q1 25 | — | 19.8% | ||
| Q4 24 | — | 27.4% | ||
| Q3 24 | — | 29.9% | ||
| Q2 24 | — | 26.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.36 | ||
| Q3 25 | $-0.40 | $0.43 | ||
| Q2 25 | $-1.47 | $0.35 | ||
| Q1 25 | — | $0.25 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | — | $0.41 | ||
| Q2 24 | — | $0.35 |
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 | $1.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $240.3M |
| Total Assets | $118.8M | $680.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $97.0M | — | ||
| Q4 25 | $109.8M | $1.0K | ||
| Q3 25 | $115.4M | $1.0K | ||
| Q2 25 | $33.5M | $1.0K | ||
| Q1 25 | — | $1.0K | ||
| Q4 24 | — | $1.0K | ||
| Q3 24 | — | $1.0K | ||
| Q2 24 | — | $1.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $15.4M | — | ||
| Q2 25 | $15.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $240.3M | ||
| Q3 25 | $106.7M | $238.0M | ||
| Q2 25 | $-83.1M | $234.6M | ||
| Q1 25 | — | $232.1M | ||
| Q4 24 | — | $231.2M | ||
| Q3 24 | — | $228.7M | ||
| Q2 24 | — | $225.4M |
| Q1 26 | $118.8M | — | ||
| Q4 25 | $130.1M | $680.9M | ||
| Q3 25 | $134.9M | $667.1M | ||
| Q2 25 | $53.3M | $653.7M | ||
| Q1 25 | — | $641.8M | ||
| Q4 24 | — | $633.5M | ||
| Q3 24 | — | $621.4M | ||
| Q2 24 | — | $610.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $8.4M | ||
| Q3 25 | $-8.5M | $7.8M | ||
| Q2 25 | $-15.2M | $7.6M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | — | $10.2M | ||
| Q3 24 | — | $7.5M | ||
| Q2 24 | — | $6.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-8.6M | — | ||
| Q2 25 | $-15.6M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -65.9% | — | ||
| Q2 25 | -129.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | — | 1.50× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
