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Side-by-side financial comparison of Caledonia Mining Corp Plc (CMCL) and ImmunityBio, Inc. (IBRX). Click either name above to swap in a different company.

Caledonia Mining Corp Plc is the larger business by last-quarter revenue ($46.9M vs $38.3M, roughly 1.2× ImmunityBio, Inc.). Caledonia Mining Corp Plc runs the higher net margin — 7.0% vs -161.8%, a 168.8% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs 13.8%).

Hochschild Mining plc is a leading British-based silver and gold mining business operating in North, Central, and South America. It is headquartered in Lima, Peru, with a corporate office in London, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The main shareholder is the Peruvian businessman Eduardo Hochschild.

ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing next-generation immunotherapies and vaccine candidates targeting multiple cancer types and infectious diseases. It operates mainly in the U.S. market, with core R&D segments including cell therapy, antibody therapeutics, and targeted vaccine platforms designed to enhance patient treatment outcomes.

CMCL vs IBRX — Head-to-Head

Bigger by revenue
CMCL
CMCL
1.2× larger
CMCL
$46.9M
$38.3M
IBRX
Growing faster (revenue YoY)
IBRX
IBRX
+393.2% gap
IBRX
407.0%
13.8%
CMCL
Higher net margin
CMCL
CMCL
168.8% more per $
CMCL
7.0%
-161.8%
IBRX

Income Statement — Q3 FY2024 vs Q4 FY2025

Metric
CMCL
CMCL
IBRX
IBRX
Revenue
$46.9M
$38.3M
Net Profit
$3.3M
$-61.9M
Gross Margin
41.2%
99.0%
Operating Margin
18.6%
-169.0%
Net Margin
7.0%
-161.8%
Revenue YoY
13.8%
407.0%
Net Profit YoY
-33.3%
-4.7%
EPS (diluted)
$0.13
$-0.06

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
CMCL
CMCL
IBRX
IBRX
Q4 25
$38.3M
Q3 25
$32.1M
Q2 25
$26.4M
Q1 25
$16.5M
Q4 24
$7.6M
Q3 24
$46.9M
$6.1M
Q2 24
$50.1M
Q1 24
$38.5M
Net Profit
CMCL
CMCL
IBRX
IBRX
Q4 25
$-61.9M
Q3 25
$-67.3M
Q2 25
$-92.6M
Q1 25
$-129.6M
Q4 24
$-59.2M
Q3 24
$3.3M
$-85.7M
Q2 24
$10.2M
Q1 24
$2.1M
Gross Margin
CMCL
CMCL
IBRX
IBRX
Q4 25
99.0%
Q3 25
99.4%
Q2 25
99.5%
Q1 25
99.6%
Q4 24
Q3 24
41.2%
Q2 24
45.8%
Q1 24
35.9%
Operating Margin
CMCL
CMCL
IBRX
IBRX
Q4 25
-169.0%
Q3 25
-173.5%
Q2 25
-269.8%
Q1 25
-390.1%
Q4 24
-919.0%
Q3 24
18.6%
-1314.3%
Q2 24
32.2%
Q1 24
13.8%
Net Margin
CMCL
CMCL
IBRX
IBRX
Q4 25
-161.8%
Q3 25
-209.8%
Q2 25
-350.3%
Q1 25
-784.9%
Q4 24
-783.4%
Q3 24
7.0%
-1404.0%
Q2 24
20.3%
Q1 24
5.4%
EPS (diluted)
CMCL
CMCL
IBRX
IBRX
Q4 25
$-0.06
Q3 25
$-0.07
Q2 25
$-0.10
Q1 25
$-0.15
Q4 24
$-0.08
Q3 24
$0.13
$-0.14
Q2 24
$0.42
Q1 24
$0.07

Balance Sheet & Financial Strength

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

Metric
CMCL
CMCL
IBRX
IBRX
Cash + ST InvestmentsLiquidity on hand
$7.2M
$242.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$231.0M
$-500.5M
Total Assets
$339.7M
$501.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMCL
CMCL
IBRX
IBRX
Q4 25
$242.8M
Q3 25
$257.8M
Q2 25
$153.7M
Q1 25
$61.6M
Q4 24
$149.8M
Q3 24
$7.2M
$130.4M
Q2 24
$15.4M
Q1 24
$1.8M
Stockholders' Equity
CMCL
CMCL
IBRX
IBRX
Q4 25
$-500.5M
Q3 25
$-524.3M
Q2 25
$-570.7M
Q1 25
$-591.4M
Q4 24
$-489.1M
Q3 24
$231.0M
$-745.1M
Q2 24
$231.1M
Q1 24
$220.3M
Total Assets
CMCL
CMCL
IBRX
IBRX
Q4 25
$501.9M
Q3 25
$519.0M
Q2 25
$402.1M
Q1 25
$303.8M
Q4 24
$382.9M
Q3 24
$339.7M
$364.6M
Q2 24
$338.5M
Q1 24
$321.8M

Cash Flow & Capital Efficiency

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

Metric
CMCL
CMCL
IBRX
IBRX
Operating Cash FlowLast quarter
$4.6M
$-70.4M
Free Cash FlowOCF − Capex
$-71.3M
FCF MarginFCF / Revenue
-186.2%
Capex IntensityCapex / Revenue
2.4%
Cash ConversionOCF / Net Profit
1.40×
TTM Free Cash FlowTrailing 4 quarters
$-308.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMCL
CMCL
IBRX
IBRX
Q4 25
$-70.4M
Q3 25
$-68.9M
Q2 25
$-79.7M
Q1 25
$-85.9M
Q4 24
$-85.1M
Q3 24
$4.6M
$-98.8M
Q2 24
$19.1M
Q1 24
Free Cash Flow
CMCL
CMCL
IBRX
IBRX
Q4 25
$-71.3M
Q3 25
$-69.6M
Q2 25
$-80.8M
Q1 25
$-87.0M
Q4 24
$-87.3M
Q3 24
$-101.6M
Q2 24
Q1 24
FCF Margin
CMCL
CMCL
IBRX
IBRX
Q4 25
-186.2%
Q3 25
-217.2%
Q2 25
-305.9%
Q1 25
-526.9%
Q4 24
-1155.4%
Q3 24
-1663.2%
Q2 24
Q1 24
Capex Intensity
CMCL
CMCL
IBRX
IBRX
Q4 25
2.4%
Q3 25
2.3%
Q2 25
4.1%
Q1 25
6.8%
Q4 24
28.0%
Q3 24
45.7%
Q2 24
Q1 24
Cash Conversion
CMCL
CMCL
IBRX
IBRX
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
1.40×
Q2 24
1.87×
Q1 24

Financial Flow Comparison

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

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