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Side-by-side financial comparison of Claros Mortgage Trust, Inc. (CMTG) and First Foundation Inc. (FFWM). Click either name above to swap in a different company.
First Foundation Inc. is the larger business by last-quarter revenue ($48.4M vs $46.7M, roughly 1.0× Claros Mortgage Trust, Inc.). First Foundation Inc. runs the higher net margin — -97.9% vs -468.9%, a 371.1% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs -22.4%). Over the past eight quarters, First Foundation Inc.'s revenue compounded faster (-2.7% CAGR vs -10.9%).
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
CMTG vs FFWM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.7M | $48.4M |
| Net Profit | $-219.2M | $-8.0M |
| Gross Margin | — | — |
| Operating Margin | — | -97.5% |
| Net Margin | -468.9% | -97.9% |
| Revenue YoY | -22.4% | 421.7% |
| Net Profit YoY | -117.7% | 43.0% |
| EPS (diluted) | $-1.56 | $-0.09 |
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.
| Q4 25 | $46.7M | $48.4M | ||
| Q3 25 | $46.1M | $63.6M | ||
| Q2 25 | $51.6M | $51.4M | ||
| Q1 25 | $43.4M | $71.4M | ||
| Q4 24 | $60.2M | $9.3M | ||
| Q3 24 | $64.9M | $9.2M | ||
| Q2 24 | $64.5M | $57.5M | ||
| Q1 24 | $58.8M | $51.1M |
| Q4 25 | $-219.2M | $-8.0M | ||
| Q3 25 | $-9.5M | $-146.3M | ||
| Q2 25 | $-181.7M | $-7.7M | ||
| Q1 25 | $-78.6M | $6.9M | ||
| Q4 24 | $-100.7M | $-14.1M | ||
| Q3 24 | $-56.2M | $-82.2M | ||
| Q2 24 | $-11.6M | $3.1M | ||
| Q1 24 | $-52.8M | $793.0K |
| Q4 25 | — | -97.5% | ||
| Q3 25 | — | -92.7% | ||
| Q2 25 | — | -21.1% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | -247.7% | ||
| Q3 24 | — | -1276.7% | ||
| Q2 24 | — | 4.6% | ||
| Q1 24 | — | -0.2% |
| Q4 25 | -468.9% | -97.9% | ||
| Q3 25 | -20.7% | -230.1% | ||
| Q2 25 | -351.9% | -15.0% | ||
| Q1 25 | -181.3% | 9.7% | ||
| Q4 24 | -167.2% | -152.2% | ||
| Q3 24 | -86.7% | -896.9% | ||
| Q2 24 | -17.9% | 5.4% | ||
| Q1 24 | -89.7% | 1.6% |
| Q4 25 | $-1.56 | $-0.09 | ||
| Q3 25 | $-0.07 | $-1.78 | ||
| Q2 25 | $-1.30 | $-0.09 | ||
| Q1 25 | $-0.56 | $0.08 | ||
| Q4 24 | $-0.72 | $-0.24 | ||
| Q3 24 | $-0.40 | $-1.23 | ||
| Q2 24 | $-0.09 | $0.05 | ||
| Q1 24 | $-0.39 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $173.2M | $1.6B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $1.5B | $912.6M |
| Total Assets | $4.7B | $11.9B |
| Debt / EquityLower = less leverage | 2.06× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.2M | $1.6B | ||
| Q3 25 | $339.5M | $1.7B | ||
| Q2 25 | $209.2M | $1.1B | ||
| Q1 25 | $127.8M | $1.0B | ||
| Q4 24 | $99.1M | $1.0B | ||
| Q3 24 | $113.9M | $1.1B | ||
| Q2 24 | $148.2M | $1.4B | ||
| Q1 24 | $232.5M | $1.6B |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
| Q4 25 | $1.5B | $912.6M | ||
| Q3 25 | $1.7B | $917.9M | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.2B | $933.2M | ||
| Q1 24 | $2.2B | $928.7M |
| Q4 25 | $4.7B | $11.9B | ||
| Q3 25 | $5.4B | $11.9B | ||
| Q2 25 | $5.8B | $11.6B | ||
| Q1 25 | $6.7B | $12.6B | ||
| Q4 24 | $7.0B | $12.6B | ||
| Q3 24 | $7.3B | $13.4B | ||
| Q2 24 | $7.6B | $13.7B | ||
| Q1 24 | $7.8B | $13.6B |
| Q4 25 | 2.06× | — | ||
| Q3 25 | 2.09× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.42× | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 2.44× | — | ||
| Q2 24 | 2.46× | — | ||
| Q1 24 | 2.47× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-30.5M | $-31.9M |
| Free Cash FlowOCF − Capex | — | $-35.2M |
| FCF MarginFCF / Revenue | — | -72.8% |
| Capex IntensityCapex / Revenue | — | 6.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-45.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-30.5M | $-31.9M | ||
| Q3 25 | $8.8M | $9.2M | ||
| Q2 25 | $-5.8M | $-16.3M | ||
| Q1 25 | $-35.8M | $-552.0K | ||
| Q4 24 | $84.5M | $-8.7M | ||
| Q3 24 | $39.2M | $14.2M | ||
| Q2 24 | $5.5M | $-9.1M | ||
| Q1 24 | $21.5M | $7.2M |
| Q4 25 | — | $-35.2M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $-16.7M | ||
| Q1 25 | — | $-2.5M | ||
| Q4 24 | — | $-11.4M | ||
| Q3 24 | — | $13.4M | ||
| Q2 24 | — | $-9.4M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | -72.8% | ||
| Q3 25 | — | 13.5% | ||
| Q2 25 | — | -32.4% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | -123.5% | ||
| Q3 24 | — | 146.2% | ||
| Q2 24 | — | -16.3% | ||
| Q1 24 | — | 11.6% |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -2.96× | ||
| Q1 24 | — | 9.09× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
FFWM
Segment breakdown not available.
