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

STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $46.9M, roughly 1.0× Caledonia Mining Corp Plc). Caledonia Mining Corp Plc runs the higher net margin — 7.0% vs -33.9%, a 40.9% gap on every dollar of revenue. On growth, Caledonia Mining Corp Plc posted the faster year-over-year revenue change (13.8% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 17.1%).

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.

StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.

CMCL vs STEM — Head-to-Head

Bigger by revenue
STEM
STEM
1.0× larger
STEM
$47.1M
$46.9M
CMCL
Growing faster (revenue YoY)
CMCL
CMCL
+29.3% gap
CMCL
13.8%
-15.6%
STEM
Higher net margin
CMCL
CMCL
40.9% more per $
CMCL
7.0%
-33.9%
STEM
Faster 2-yr revenue CAGR
STEM
STEM
Annualised
STEM
36.1%
17.1%
CMCL

Income Statement — Q3 FY2024 vs Q4 FY2025

Metric
CMCL
CMCL
STEM
STEM
Revenue
$46.9M
$47.1M
Net Profit
$3.3M
$-16.0M
Gross Margin
41.2%
48.9%
Operating Margin
18.6%
-17.7%
Net Margin
7.0%
-33.9%
Revenue YoY
13.8%
-15.6%
Net Profit YoY
-33.3%
68.8%
EPS (diluted)
$0.13
$-4.40

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
STEM
STEM
Q4 25
$47.1M
Q3 25
$38.2M
Q2 25
$38.4M
Q1 25
$32.5M
Q4 24
$55.8M
Q3 24
$46.9M
$29.3M
Q2 24
$50.1M
$34.0M
Q1 24
$38.5M
$25.5M
Net Profit
CMCL
CMCL
STEM
STEM
Q4 25
$-16.0M
Q3 25
$-23.8M
Q2 25
$202.5M
Q1 25
$-25.0M
Q4 24
$-51.1M
Q3 24
$3.3M
$-148.3M
Q2 24
$10.2M
$-582.3M
Q1 24
$2.1M
$-72.3M
Gross Margin
CMCL
CMCL
STEM
STEM
Q4 25
48.9%
Q3 25
35.5%
Q2 25
33.4%
Q1 25
32.4%
Q4 24
-4.4%
Q3 24
41.2%
21.2%
Q2 24
45.8%
27.6%
Q1 24
35.9%
-95.0%
Operating Margin
CMCL
CMCL
STEM
STEM
Q4 25
-17.7%
Q3 25
-33.6%
Q2 25
-34.8%
Q1 25
-65.0%
Q4 24
-84.4%
Q3 24
18.6%
-493.2%
Q2 24
32.2%
-1705.5%
Q1 24
13.8%
-267.0%
Net Margin
CMCL
CMCL
STEM
STEM
Q4 25
-33.9%
Q3 25
-62.2%
Q2 25
527.8%
Q1 25
-76.9%
Q4 24
-91.6%
Q3 24
7.0%
-506.3%
Q2 24
20.3%
-1712.6%
Q1 24
5.4%
-283.9%
EPS (diluted)
CMCL
CMCL
STEM
STEM
Q4 25
$-4.40
Q3 25
$-2.84
Q2 25
$-1.79
Q1 25
$-0.15
Q4 24
$-15.29
Q3 24
$0.13
$-18.24
Q2 24
$0.42
$-71.81
Q1 24
$0.07
$-0.46

Balance Sheet & Financial Strength

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

Metric
CMCL
CMCL
STEM
STEM
Cash + ST InvestmentsLiquidity on hand
$7.2M
$48.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$231.0M
$-249.4M
Total Assets
$339.7M
$308.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMCL
CMCL
STEM
STEM
Q4 25
$48.9M
Q3 25
$43.1M
Q2 25
$40.8M
Q1 25
$58.6M
Q4 24
$56.3M
Q3 24
$7.2M
$75.4M
Q2 24
$15.4M
$89.6M
Q1 24
$1.8M
$112.8M
Stockholders' Equity
CMCL
CMCL
STEM
STEM
Q4 25
$-249.4M
Q3 25
$-235.7M
Q2 25
$-214.1M
Q1 25
$-417.5M
Q4 24
$-398.4M
Q3 24
$231.0M
$-344.1M
Q2 24
$231.1M
$-203.2M
Q1 24
$220.3M
$371.6M
Total Assets
CMCL
CMCL
STEM
STEM
Q4 25
$308.9M
Q3 25
$362.6M
Q2 25
$379.2M
Q1 25
$405.1M
Q4 24
$437.4M
Q3 24
$339.7M
$537.8M
Q2 24
$338.5M
$691.5M
Q1 24
$321.8M
$1.3B

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
STEM
STEM
Operating Cash FlowLast quarter
$4.6M
$8.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.40×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMCL
CMCL
STEM
STEM
Q4 25
$8.2M
Q3 25
$11.4M
Q2 25
$-21.3M
Q1 25
$8.5M
Q4 24
$-14.7M
Q3 24
$4.6M
$-9.4M
Q2 24
$19.1M
$-11.9M
Q1 24
$-621.0K
Cash Conversion
CMCL
CMCL
STEM
STEM
Q4 25
Q3 25
Q2 25
-0.11×
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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