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Side-by-side financial comparison of PATHWARD FINANCIAL, INC. (CASH) and Immunocore Holdings plc (IMCR). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($173.1M vs $104.5M, roughly 1.7× Immunocore Holdings plc). On growth, Immunocore Holdings plc posted the faster year-over-year revenue change (24.3% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $-35.5M). Over the past eight quarters, Immunocore Holdings plc's revenue compounded faster (21.7% CAGR vs -18.0%).
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.
CASH vs IMCR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.1M | $104.5M |
| Net Profit | $35.2M | — |
| Gross Margin | — | 97.4% |
| Operating Margin | 24.6% | -18.8% |
| Net Margin | 20.3% | — |
| Revenue YoY | -0.2% | 24.3% |
| Net Profit YoY | 11.9% | — |
| EPS (diluted) | $1.57 | $-0.61 |
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 | $173.1M | $104.5M | ||
| Q3 25 | $186.7M | $103.7M | ||
| Q2 25 | $195.8M | $98.0M | ||
| Q1 25 | $274.8M | $93.9M | ||
| Q4 24 | $182.6M | $84.1M | ||
| Q3 24 | $179.5M | $80.2M | ||
| Q2 24 | $188.6M | $75.4M | ||
| Q1 24 | $257.6M | $70.5M |
| Q4 25 | $35.2M | — | ||
| Q3 25 | $38.8M | $-177.0K | ||
| Q2 25 | $42.1M | $-10.3M | ||
| Q1 25 | $75.0M | $5.0M | ||
| Q4 24 | $30.0M | — | ||
| Q3 24 | $33.5M | $8.7M | ||
| Q2 24 | $44.9M | $-11.6M | ||
| Q1 24 | $69.9M | $-24.4M |
| Q4 25 | — | 97.4% | ||
| Q3 25 | — | 99.5% | ||
| Q2 25 | — | 98.9% | ||
| Q1 25 | — | 99.1% | ||
| Q4 24 | — | 99.6% | ||
| Q3 24 | — | 99.4% | ||
| Q2 24 | — | 97.7% | ||
| Q1 24 | — | 99.7% |
| Q4 25 | 24.6% | -18.8% | ||
| Q3 25 | 25.9% | -6.9% | ||
| Q2 25 | 24.1% | -15.2% | ||
| Q1 25 | 33.2% | -3.9% | ||
| Q4 24 | 19.8% | -23.1% | ||
| Q3 24 | 20.9% | -10.6% | ||
| Q2 24 | 27.1% | -21.2% | ||
| Q1 24 | 33.8% | -37.6% |
| Q4 25 | 20.3% | — | ||
| Q3 25 | 20.8% | -0.2% | ||
| Q2 25 | 21.5% | -10.5% | ||
| Q1 25 | 27.3% | 5.4% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | 18.7% | 10.9% | ||
| Q2 24 | 23.8% | -15.4% | ||
| Q1 24 | 27.1% | -34.7% |
| Q4 25 | $1.57 | $-0.61 | ||
| Q3 25 | $1.69 | $0.00 | ||
| Q2 25 | $1.81 | $-0.20 | ||
| Q1 25 | $3.14 | $0.10 | ||
| Q4 24 | $1.23 | $-0.47 | ||
| Q3 24 | $1.34 | $0.17 | ||
| Q2 24 | $1.78 | $-0.23 | ||
| Q1 24 | $2.74 | $-0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $331.2M | $864.2M |
| Total DebtLower is stronger | $33.5M | — |
| Stockholders' EquityBook value | $854.5M | $381.0M |
| Total Assets | $7.6B | $1.1B |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $331.2M | $864.2M | ||
| Q3 25 | $120.6M | $892.4M | ||
| Q2 25 | $258.3M | $882.8M | ||
| Q1 25 | $254.2M | $837.0M | ||
| Q4 24 | $597.4M | $820.4M | ||
| Q3 24 | $158.3M | $901.3M | ||
| Q2 24 | $298.9M | $859.6M | ||
| Q1 24 | $347.9M | $832.8M |
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | $438.7M | ||
| Q2 24 | $33.3M | $452.5M | ||
| Q1 24 | $33.4M | $452.5M |
| Q4 25 | $854.5M | $381.0M | ||
| Q3 25 | $858.0M | $396.6M | ||
| Q2 25 | $819.0M | $388.5M | ||
| Q1 25 | $814.7M | $378.5M | ||
| Q4 24 | $758.3M | $360.7M | ||
| Q3 24 | $822.5M | $377.8M | ||
| Q2 24 | $748.4M | $359.1M | ||
| Q1 24 | $719.5M | $359.5M |
| Q4 25 | $7.6B | $1.1B | ||
| Q3 25 | $7.2B | $1.1B | ||
| Q2 25 | $7.2B | $1.1B | ||
| Q1 25 | $7.0B | $1.0B | ||
| Q4 24 | $7.6B | $1.0B | ||
| Q3 24 | $7.5B | $1.1B | ||
| Q2 24 | $7.5B | $1.0B | ||
| Q1 24 | $7.4B | $994.0M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | 1.16× | ||
| Q2 24 | 0.04× | 1.26× | ||
| Q1 24 | 0.05× | 1.26× |
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 | $108.3M | $-32.7M |
| Free Cash FlowOCF − Capex | $104.1M | $-35.5M |
| FCF MarginFCF / Revenue | 60.1% | -34.0% |
| Capex IntensityCapex / Revenue | 2.4% | 2.8% |
| Cash ConversionOCF / Net Profit | 3.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $-15.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.3M | $-32.7M | ||
| Q3 25 | $303.7M | $-4.5M | ||
| Q2 25 | $30.4M | $26.0M | ||
| Q1 25 | $188.3M | $435.0K | ||
| Q4 24 | $-71.7M | $-14.0M | ||
| Q3 24 | $143.1M | $21.1M | ||
| Q2 24 | $113.2M | $23.5M | ||
| Q1 24 | $203.0M | $-4.6M |
| Q4 25 | $104.1M | $-35.5M | ||
| Q3 25 | $300.3M | $-5.2M | ||
| Q2 25 | $27.7M | $25.6M | ||
| Q1 25 | $184.7M | $137.0K | ||
| Q4 24 | $-73.8M | $-17.5M | ||
| Q3 24 | $138.8M | $20.3M | ||
| Q2 24 | $111.0M | $23.1M | ||
| Q1 24 | $201.3M | $-5.0M |
| Q4 25 | 60.1% | -34.0% | ||
| Q3 25 | 160.9% | -5.0% | ||
| Q2 25 | 14.1% | 26.1% | ||
| Q1 25 | 67.2% | 0.1% | ||
| Q4 24 | -40.4% | -20.9% | ||
| Q3 24 | 77.3% | 25.3% | ||
| Q2 24 | 58.8% | 30.7% | ||
| Q1 24 | 78.1% | -7.1% |
| Q4 25 | 2.4% | 2.8% | ||
| Q3 25 | 1.8% | 0.7% | ||
| Q2 25 | 1.4% | 0.4% | ||
| Q1 25 | 1.3% | 0.3% | ||
| Q4 24 | 1.1% | 4.3% | ||
| Q3 24 | 2.4% | 1.0% | ||
| Q2 24 | 1.2% | 0.4% | ||
| Q1 24 | 0.7% | 0.6% |
| Q4 25 | 3.08× | — | ||
| Q3 25 | 7.83× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | 0.09× | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | 2.42× | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.90× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
IMCR
Segment breakdown not available.
