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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) and Fabrinet (FN). Click either name above to swap in a different company.

Fabrinet is the larger business by last-quarter revenue ($1.1B vs $749.2M, roughly 1.5× CLOVER HEALTH INVESTMENTS, CORP.). Fabrinet runs the higher net margin — 9.9% vs 3.6%, a 6.3% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (62.0% vs 35.9%). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (45.0% CAGR vs 24.4%).

Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.

Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.

CLOV vs FN — Head-to-Head

Bigger by revenue
FN
FN
1.5× larger
FN
$1.1B
$749.2M
CLOV
Growing faster (revenue YoY)
CLOV
CLOV
+26.1% gap
CLOV
62.0%
35.9%
FN
Higher net margin
FN
FN
6.3% more per $
FN
9.9%
3.6%
CLOV
Faster 2-yr revenue CAGR
CLOV
CLOV
Annualised
CLOV
45.0%
24.4%
FN

Income Statement — Q1 FY2026 vs Q2 FY2026

Metric
CLOV
CLOV
FN
FN
Revenue
$749.2M
$1.1B
Net Profit
$27.3M
$112.6M
Gross Margin
12.2%
Operating Margin
3.6%
10.1%
Net Margin
3.6%
9.9%
Revenue YoY
62.0%
35.9%
Net Profit YoY
30.0%
EPS (diluted)
$0.05
$3.11

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
CLOV
CLOV
FN
FN
Q1 26
$749.2M
Q4 25
$487.7M
$1.1B
Q3 25
$496.6M
$978.1M
Q2 25
$477.6M
$909.7M
Q1 25
$462.3M
$871.8M
Q4 24
$337.0M
$833.6M
Q3 24
$331.0M
$804.2M
Q2 24
$356.3M
$753.3M
Net Profit
CLOV
CLOV
FN
FN
Q1 26
$27.3M
Q4 25
$-49.3M
$112.6M
Q3 25
$-24.4M
$95.9M
Q2 25
$-10.6M
$87.2M
Q1 25
$-1.3M
$81.3M
Q4 24
$-22.1M
$86.6M
Q3 24
$-9.2M
$77.4M
Q2 24
$7.4M
$81.1M
Gross Margin
CLOV
CLOV
FN
FN
Q1 26
Q4 25
12.2%
Q3 25
11.9%
Q2 25
12.2%
Q1 25
11.7%
Q4 24
12.1%
Q3 24
24.5%
12.3%
Q2 24
30.3%
12.3%
Operating Margin
CLOV
CLOV
FN
FN
Q1 26
3.6%
Q4 25
-10.1%
10.1%
Q3 25
-4.9%
9.6%
Q2 25
-2.2%
9.8%
Q1 25
-0.3%
9.0%
Q4 24
-6.4%
9.5%
Q3 24
-2.7%
9.6%
Q2 24
2.0%
9.7%
Net Margin
CLOV
CLOV
FN
FN
Q1 26
3.6%
Q4 25
-10.1%
9.9%
Q3 25
-4.9%
9.8%
Q2 25
-2.2%
9.6%
Q1 25
-0.3%
9.3%
Q4 24
-6.6%
10.4%
Q3 24
-2.8%
9.6%
Q2 24
2.1%
10.8%
EPS (diluted)
CLOV
CLOV
FN
FN
Q1 26
$0.05
Q4 25
$3.11
Q3 25
$2.66
Q2 25
$2.41
Q1 25
$2.25
Q4 24
$2.38
Q3 24
$2.13
Q2 24
$2.22

Balance Sheet & Financial Strength

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

Metric
CLOV
CLOV
FN
FN
Cash + ST InvestmentsLiquidity on hand
$177.6M
$960.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$339.4M
$2.2B
Total Assets
$697.7M
$3.3B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CLOV
CLOV
FN
FN
Q1 26
$177.6M
Q4 25
$78.3M
$960.8M
Q3 25
$968.8M
Q2 25
$934.2M
Q1 25
$950.7M
Q4 24
$194.5M
$934.6M
Q3 24
$288.0M
$908.9M
Q2 24
$254.8M
$858.6M
Stockholders' Equity
CLOV
CLOV
FN
FN
Q1 26
$339.4M
Q4 25
$308.7M
$2.2B
Q3 25
$340.9M
$2.1B
Q2 25
$344.2M
$2.0B
Q1 25
$336.1M
$1.9B
Q4 24
$341.1M
$1.8B
Q3 24
$342.2M
$1.8B
Q2 24
$324.9M
$1.7B
Total Assets
CLOV
CLOV
FN
FN
Q1 26
$697.7M
Q4 25
$541.0M
$3.3B
Q3 25
$559.7M
$3.0B
Q2 25
$575.0M
$2.8B
Q1 25
$583.7M
$2.6B
Q4 24
$580.7M
$2.5B
Q3 24
$653.0M
$2.4B
Q2 24
$674.2M
$2.3B

Cash Flow & Capital Efficiency

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

Metric
CLOV
CLOV
FN
FN
Operating Cash FlowLast quarter
$46.3M
Free Cash FlowOCF − Capex
$-5.3M
FCF MarginFCF / Revenue
-0.5%
Capex IntensityCapex / Revenue
4.6%
Cash ConversionOCF / Net Profit
0.41×
TTM Free Cash FlowTrailing 4 quarters
$102.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLOV
CLOV
FN
FN
Q1 26
Q4 25
$-66.9M
$46.3M
Q3 25
$12.1M
$102.6M
Q2 25
$5.4M
$55.1M
Q1 25
$-16.3M
$74.2M
Q4 24
$34.8M
$115.9M
Q3 24
$50.0M
$83.2M
Q2 24
$44.8M
$83.1M
Free Cash Flow
CLOV
CLOV
FN
FN
Q1 26
Q4 25
$-69.0M
$-5.3M
Q3 25
$11.4M
$57.3M
Q2 25
$4.8M
$4.7M
Q1 25
$-16.5M
$45.7M
Q4 24
$33.3M
$94.0M
Q3 24
$49.6M
$62.9M
Q2 24
$44.4M
$70.4M
FCF Margin
CLOV
CLOV
FN
FN
Q1 26
Q4 25
-14.1%
-0.5%
Q3 25
2.3%
5.9%
Q2 25
1.0%
0.5%
Q1 25
-3.6%
5.2%
Q4 24
9.9%
11.3%
Q3 24
15.0%
7.8%
Q2 24
12.5%
9.3%
Capex Intensity
CLOV
CLOV
FN
FN
Q1 26
Q4 25
0.4%
4.6%
Q3 25
0.1%
4.6%
Q2 25
0.1%
5.5%
Q1 25
0.0%
3.3%
Q4 24
0.5%
2.6%
Q3 24
0.1%
2.5%
Q2 24
0.1%
1.7%
Cash Conversion
CLOV
CLOV
FN
FN
Q1 26
Q4 25
0.41×
Q3 25
1.07×
Q2 25
0.63×
Q1 25
0.91×
Q4 24
1.34×
Q3 24
1.07×
Q2 24
6.04×
1.02×

Financial Flow Comparison

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

Revenue Breakdown by Segment

CLOV
CLOV

Segment breakdown not available.

FN
FN

Optical Communications$832.6M73%
Non Optical Communications$300.3M27%

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