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Side-by-side financial comparison of C4 Therapeutics, Inc. (CCCC) and Invesco Mortgage Capital Inc. (IVR). Click either name above to swap in a different company.

Invesco Mortgage Capital Inc. is the larger business by last-quarter revenue ($21.3M vs $11.0M, roughly 1.9× C4 Therapeutics, Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs -186.0%, a 428.2% gap on every dollar of revenue. On growth, C4 Therapeutics, Inc. posted the faster year-over-year revenue change (112.8% vs 55.4%). Over the past eight quarters, C4 Therapeutics, Inc.'s revenue compounded faster (90.4% CAGR vs 74.2%).

C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing targeted protein degradation therapies for cancer and other severe diseases with high unmet medical needs. It leverages its proprietary TORPEDO platform to design small molecule degraders that eliminate disease-causing proteins, with a pipeline of oncology candidates in preclinical and clinical development, plus strategic partnerships with leading global pharmaceutical firms.

Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.

CCCC vs IVR — Head-to-Head

Bigger by revenue
IVR
IVR
1.9× larger
IVR
$21.3M
$11.0M
CCCC
Growing faster (revenue YoY)
CCCC
CCCC
+57.4% gap
CCCC
112.8%
55.4%
IVR
Higher net margin
IVR
IVR
428.2% more per $
IVR
242.2%
-186.0%
CCCC
Faster 2-yr revenue CAGR
CCCC
CCCC
Annualised
CCCC
90.4%
74.2%
IVR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
CCCC
CCCC
IVR
IVR
Revenue
$11.0M
$21.3M
Net Profit
$-20.5M
$51.5M
Gross Margin
Operating Margin
-210.1%
Net Margin
-186.0%
242.2%
Revenue YoY
112.8%
55.4%
Net Profit YoY
40.7%
1368.7%
EPS (diluted)
$-0.09
$0.72

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.

Revenue
CCCC
CCCC
IVR
IVR
Q4 25
$11.0M
$21.3M
Q3 25
$11.2M
$17.6M
Q2 25
$6.5M
$17.7M
Q1 25
$7.2M
$18.8M
Q4 24
$5.2M
$13.7M
Q3 24
$15.4M
$7.5M
Q2 24
$12.0M
$8.6M
Q1 24
$3.0M
$7.0M
Net Profit
CCCC
CCCC
IVR
IVR
Q4 25
$-20.5M
$51.5M
Q3 25
$-32.2M
$53.5M
Q2 25
$-26.0M
$-23.3M
Q1 25
$-26.3M
$19.6M
Q4 24
$-34.6M
$3.5M
Q3 24
$-24.7M
$40.7M
Q2 24
$-17.7M
$-13.5M
Q1 24
$-28.4M
$29.1M
Operating Margin
CCCC
CCCC
IVR
IVR
Q4 25
-210.1%
Q3 25
-306.4%
Q2 25
-441.0%
Q1 25
-402.9%
Q4 24
-728.4%
Q3 24
-183.9%
Q2 24
-178.6%
Q1 24
-1060.2%
Net Margin
CCCC
CCCC
IVR
IVR
Q4 25
-186.0%
242.2%
Q3 25
-286.4%
303.6%
Q2 25
-402.6%
-131.6%
Q1 25
-363.7%
104.4%
Q4 24
-667.8%
25.6%
Q3 24
-160.6%
542.2%
Q2 24
-147.6%
-155.9%
Q1 24
-933.2%
415.9%
EPS (diluted)
CCCC
CCCC
IVR
IVR
Q4 25
$-0.09
$0.72
Q3 25
$-0.44
$0.74
Q2 25
$-0.37
$-0.40
Q1 25
$-0.37
$0.26
Q4 24
$-0.50
$-0.09
Q3 24
$-0.35
$0.63
Q2 24
$-0.26
$-0.38
Q1 24
$-0.41
$0.49

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CCCC
CCCC
IVR
IVR
Cash + ST InvestmentsLiquidity on hand
$74.6M
$56.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$256.6M
$797.5M
Total Assets
$359.1M
$6.5B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CCCC
CCCC
IVR
IVR
Q4 25
$74.6M
$56.0M
Q3 25
$58.8M
$58.5M
Q2 25
$78.2M
$59.4M
Q1 25
$51.3M
$42.9M
Q4 24
$55.5M
$73.4M
Q3 24
$59.6M
$48.3M
Q2 24
$73.1M
$58.8M
Q1 24
$89.7M
$59.9M
Stockholders' Equity
CCCC
CCCC
IVR
IVR
Q4 25
$256.6M
$797.5M
Q3 25
$154.4M
$769.6M
Q2 25
$174.1M
$709.4M
Q1 25
$195.1M
$759.2M
Q4 24
$216.0M
$730.7M
Q3 24
$242.7M
$857.0M
Q2 24
$247.1M
$759.2M
Q1 24
$258.3M
$785.6M
Total Assets
CCCC
CCCC
IVR
IVR
Q4 25
$359.1M
$6.5B
Q3 25
$265.5M
$6.0B
Q2 25
$296.5M
$5.4B
Q1 25
$319.5M
$6.2B
Q4 24
$349.6M
$5.7B
Q3 24
$376.1M
$6.1B
Q2 24
$381.1M
$5.1B
Q1 24
$398.4M
$5.2B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CCCC
CCCC
IVR
IVR
Operating Cash FlowLast quarter
$-22.1M
$157.1M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
3.05×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CCCC
CCCC
IVR
IVR
Q4 25
$-22.1M
$157.1M
Q3 25
$-31.2M
$37.3M
Q2 25
$-12.1M
$40.6M
Q1 25
$-33.3M
$19.3M
Q4 24
$-17.9M
$183.2M
Q3 24
$-24.1M
$30.8M
Q2 24
$-5.0M
$33.0M
Q1 24
$-18.1M
$57.5M
Free Cash Flow
CCCC
CCCC
IVR
IVR
Q4 25
Q3 25
$-31.6M
Q2 25
Q1 25
Q4 24
$-17.9M
Q3 24
$-24.1M
Q2 24
$-5.2M
Q1 24
FCF Margin
CCCC
CCCC
IVR
IVR
Q4 25
Q3 25
-281.5%
Q2 25
Q1 25
Q4 24
-346.5%
Q3 24
-157.2%
Q2 24
-43.1%
Q1 24
Capex Intensity
CCCC
CCCC
IVR
IVR
Q4 25
Q3 25
3.7%
Q2 25
Q1 25
Q4 24
0.1%
Q3 24
0.1%
Q2 24
1.6%
Q1 24
0.0%
Cash Conversion
CCCC
CCCC
IVR
IVR
Q4 25
3.05×
Q3 25
0.70×
Q2 25
Q1 25
0.98×
Q4 24
52.24×
Q3 24
0.76×
Q2 24
Q1 24
1.97×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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