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

Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $46.9M, roughly 1.2× Caledonia Mining Corp Plc). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% 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.

Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.

CMCL vs PHAT — Head-to-Head

Bigger by revenue
PHAT
PHAT
1.2× larger
PHAT
$57.6M
$46.9M
CMCL
Growing faster (revenue YoY)
PHAT
PHAT
+80.3% gap
PHAT
94.1%
13.8%
CMCL

Income Statement — Q3 FY2024 vs Q4 FY2025

Metric
CMCL
CMCL
PHAT
PHAT
Revenue
$46.9M
$57.6M
Net Profit
$3.3M
Gross Margin
41.2%
86.7%
Operating Margin
18.6%
Net Margin
7.0%
Revenue YoY
13.8%
94.1%
Net Profit YoY
-33.3%
71.6%
EPS (diluted)
$0.13

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
PHAT
PHAT
Q4 25
$57.6M
Q3 25
$49.5M
Q2 25
$39.5M
Q1 25
$28.5M
Q4 24
$29.7M
Q3 24
$46.9M
$16.4M
Q2 24
$50.1M
$7.3M
Q1 24
$38.5M
Net Profit
CMCL
CMCL
PHAT
PHAT
Q4 25
Q3 25
$-30.0M
Q2 25
$-75.8M
Q1 25
$-94.3M
Q4 24
Q3 24
$3.3M
$-85.6M
Q2 24
$10.2M
$-91.4M
Q1 24
$2.1M
Gross Margin
CMCL
CMCL
PHAT
PHAT
Q4 25
86.7%
Q3 25
87.5%
Q2 25
87.2%
Q1 25
86.9%
Q4 24
87.1%
Q3 24
41.2%
85.6%
Q2 24
45.8%
81.2%
Q1 24
35.9%
Operating Margin
CMCL
CMCL
PHAT
PHAT
Q4 25
Q3 25
-30.8%
Q2 25
-151.7%
Q1 25
-276.5%
Q4 24
Q3 24
18.6%
-433.0%
Q2 24
32.2%
-1055.4%
Q1 24
13.8%
Net Margin
CMCL
CMCL
PHAT
PHAT
Q4 25
Q3 25
-60.5%
Q2 25
-191.9%
Q1 25
-330.7%
Q4 24
Q3 24
7.0%
-523.3%
Q2 24
20.3%
-1248.6%
Q1 24
5.4%
EPS (diluted)
CMCL
CMCL
PHAT
PHAT
Q4 25
Q3 25
$-0.41
Q2 25
$-1.05
Q1 25
$-1.31
Q4 24
Q3 24
$0.13
$-1.32
Q2 24
$0.42
$-1.56
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
PHAT
PHAT
Cash + ST InvestmentsLiquidity on hand
$7.2M
$130.0M
Total DebtLower is stronger
$209.1M
Stockholders' EquityBook value
$231.0M
$-438.2M
Total Assets
$339.7M
$259.1M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMCL
CMCL
PHAT
PHAT
Q4 25
$130.0M
Q3 25
$135.2M
Q2 25
$149.6M
Q1 25
$212.3M
Q4 24
$297.3M
Q3 24
$7.2M
$334.7M
Q2 24
$15.4M
$276.2M
Q1 24
$1.8M
Total Debt
CMCL
CMCL
PHAT
PHAT
Q4 25
$209.1M
Q3 25
$207.1M
Q2 25
$205.1M
Q1 25
$203.2M
Q4 24
$201.4M
Q3 24
$175.7M
Q2 24
$174.4M
Q1 24
Stockholders' Equity
CMCL
CMCL
PHAT
PHAT
Q4 25
$-438.2M
Q3 25
$-422.5M
Q2 25
$-405.8M
Q1 25
$-338.4M
Q4 24
$-253.6M
Q3 24
$231.0M
$-187.1M
Q2 24
$231.1M
$-233.8M
Q1 24
$220.3M
Total Assets
CMCL
CMCL
PHAT
PHAT
Q4 25
$259.1M
Q3 25
$240.3M
Q2 25
$250.2M
Q1 25
$294.2M
Q4 24
$378.3M
Q3 24
$339.7M
$387.0M
Q2 24
$338.5M
$319.4M
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
PHAT
PHAT
Operating Cash FlowLast quarter
$4.6M
$-166.8M
Free Cash FlowOCF − Capex
$-167.0M
FCF MarginFCF / Revenue
-290.0%
Capex IntensityCapex / Revenue
0.4%
Cash ConversionOCF / Net Profit
1.40×
TTM Free Cash FlowTrailing 4 quarters
$-328.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMCL
CMCL
PHAT
PHAT
Q4 25
$-166.8M
Q3 25
$-14.1M
Q2 25
$-62.7M
Q1 25
$-84.9M
Q4 24
$-266.8M
Q3 24
$4.6M
$-63.6M
Q2 24
$19.1M
$-70.7M
Q1 24
Free Cash Flow
CMCL
CMCL
PHAT
PHAT
Q4 25
$-167.0M
Q3 25
$-14.1M
Q2 25
$-62.8M
Q1 25
$-84.9M
Q4 24
$-266.9M
Q3 24
$-63.6M
Q2 24
$-70.8M
Q1 24
FCF Margin
CMCL
CMCL
PHAT
PHAT
Q4 25
-290.0%
Q3 25
-28.6%
Q2 25
-159.0%
Q1 25
-297.9%
Q4 24
-899.8%
Q3 24
-389.0%
Q2 24
-966.2%
Q1 24
Capex Intensity
CMCL
CMCL
PHAT
PHAT
Q4 25
0.4%
Q3 25
0.1%
Q2 25
0.2%
Q1 25
0.1%
Q4 24
0.5%
Q3 24
0.3%
Q2 24
0.6%
Q1 24
Cash Conversion
CMCL
CMCL
PHAT
PHAT
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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