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Side-by-side financial comparison of Credo Technology Group Holding Ltd (CRDO) and H2O AMERICA (HTO). Click either name above to swap in a different company.
Credo Technology Group Holding Ltd is the larger business by last-quarter revenue ($268.0M vs $199.4M, roughly 1.3× H2O AMERICA). Credo Technology Group Holding Ltd runs the higher net margin — 30.8% vs 8.1%, a 22.7% gap on every dollar of revenue. On growth, Credo Technology Group Holding Ltd posted the faster year-over-year revenue change (272.1% vs 1.5%). Over the past eight quarters, Credo Technology Group Holding Ltd's revenue compounded faster (124.8% CAGR vs 15.3%).
Seiko Group is a corporate group composed of Seiko Group Corporation and its subsidiaries and affiliates. It used to be recognized as a corporate group consisting of three core companies Seiko Holdings Corp., Seiko Instruments Inc., and Seiko Epson Corp. The three companies were linked by a common thread of timepiece technology. Although Epson still develops and manufactures wristwatches for the Seiko Group, Epson and its subsidiaries are not considered part of the group.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
CRDO vs HTO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $268.0M | $199.4M |
| Net Profit | $82.6M | $16.2M |
| Gross Margin | 67.5% | — |
| Operating Margin | 29.4% | 16.6% |
| Net Margin | 30.8% | 8.1% |
| Revenue YoY | 272.1% | 1.5% |
| Net Profit YoY | 2055.9% | -29.2% |
| EPS (diluted) | $0.44 | $0.45 |
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 | $268.0M | $199.4M | ||
| Q3 25 | $223.1M | $243.5M | ||
| Q2 25 | $170.0M | $197.8M | ||
| Q1 25 | $135.0M | $164.9M | ||
| Q4 24 | $72.0M | $196.5M | ||
| Q3 24 | $59.7M | $216.7M | ||
| Q2 24 | $60.8M | $173.1M | ||
| Q1 24 | $53.1M | $150.0M |
| Q4 25 | $82.6M | $16.2M | ||
| Q3 25 | $63.4M | $45.1M | ||
| Q2 25 | $36.6M | $24.7M | ||
| Q1 25 | $29.4M | $16.6M | ||
| Q4 24 | $-4.2M | $22.9M | ||
| Q3 24 | $-9.5M | $38.7M | ||
| Q2 24 | $-10.5M | $20.7M | ||
| Q1 24 | $428.0K | $11.7M |
| Q4 25 | 67.5% | — | ||
| Q3 25 | 67.4% | — | ||
| Q2 25 | 67.2% | — | ||
| Q1 25 | 63.6% | — | ||
| Q4 24 | 63.2% | — | ||
| Q3 24 | 62.4% | — | ||
| Q2 24 | 65.8% | — | ||
| Q1 24 | 61.4% | — |
| Q4 25 | 29.4% | 16.6% | ||
| Q3 25 | 27.2% | 26.5% | ||
| Q2 25 | 19.9% | 22.2% | ||
| Q1 25 | 19.4% | 21.8% | ||
| Q4 24 | -11.7% | 22.2% | ||
| Q3 24 | -24.2% | 26.9% | ||
| Q2 24 | -13.0% | 23.4% | ||
| Q1 24 | -11.1% | 18.6% |
| Q4 25 | 30.8% | 8.1% | ||
| Q3 25 | 28.4% | 18.5% | ||
| Q2 25 | 21.5% | 12.5% | ||
| Q1 25 | 21.7% | 10.0% | ||
| Q4 24 | -5.9% | 11.7% | ||
| Q3 24 | -16.0% | 17.8% | ||
| Q2 24 | -17.2% | 12.0% | ||
| Q1 24 | 0.8% | 7.8% |
| Q4 25 | $0.44 | $0.45 | ||
| Q3 25 | $0.34 | $1.27 | ||
| Q2 25 | $0.22 | $0.71 | ||
| Q1 25 | $0.16 | $0.49 | ||
| Q4 24 | $-0.03 | $0.70 | ||
| Q3 24 | $-0.06 | $1.17 | ||
| Q2 24 | $-0.06 | $0.64 | ||
| Q1 24 | $0.00 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $813.6M | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $1.3B | $1.5B |
| Total Assets | $1.4B | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $813.6M | $20.7M | ||
| Q3 25 | $479.6M | $11.3M | ||
| Q2 25 | $431.3M | $19.8M | ||
| Q1 25 | $379.2M | $23.7M | ||
| Q4 24 | $383.0M | $11.1M | ||
| Q3 24 | $398.6M | $4.0M | ||
| Q2 24 | $410.0M | $22.8M | ||
| Q1 24 | $409.1M | $4.5M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $781.4M | $1.5B | ||
| Q2 25 | $681.6M | $1.5B | ||
| Q1 25 | $618.2M | $1.4B | ||
| Q4 24 | $567.9M | $1.4B | ||
| Q3 24 | $553.1M | $1.3B | ||
| Q2 24 | $540.2M | $1.3B | ||
| Q1 24 | $534.0M | $1.2B |
| Q4 25 | $1.4B | $5.1B | ||
| Q3 25 | $905.2M | $5.0B | ||
| Q2 25 | $809.3M | $4.8B | ||
| Q1 25 | $719.9M | $4.7B | ||
| Q4 24 | $638.6M | $4.7B | ||
| Q3 24 | $644.9M | $4.6B | ||
| Q2 24 | $601.9M | $4.4B | ||
| Q1 24 | $592.5M | $4.4B |
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $61.7M | $63.5M |
| Free Cash FlowOCF − Capex | $38.5M | — |
| FCF MarginFCF / Revenue | 14.4% | — |
| Capex IntensityCapex / Revenue | 8.7% | — |
| Cash ConversionOCF / Net Profit | 0.75× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $143.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $61.7M | $63.5M | ||
| Q3 25 | $54.2M | $77.3M | ||
| Q2 25 | $57.8M | $60.8M | ||
| Q1 25 | $4.2M | $43.2M | ||
| Q4 24 | $10.3M | $41.5M | ||
| Q3 24 | $-7.2M | $53.5M | ||
| Q2 24 | $4.2M | $49.3M | ||
| Q1 24 | $-1.0M | $51.2M |
| Q4 25 | $38.5M | — | ||
| Q3 25 | $51.3M | — | ||
| Q2 25 | $54.2M | — | ||
| Q1 25 | $-383.0K | — | ||
| Q4 24 | $-11.7M | — | ||
| Q3 24 | $-13.1M | — | ||
| Q2 24 | $962.0K | — | ||
| Q1 24 | $-6.1M | — |
| Q4 25 | 14.4% | — | ||
| Q3 25 | 23.0% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | -0.3% | — | ||
| Q4 24 | -16.2% | — | ||
| Q3 24 | -21.9% | — | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | -11.6% | — |
| Q4 25 | 8.7% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 30.5% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 9.6% | — |
| Q4 25 | 0.75× | 3.92× | ||
| Q3 25 | 0.85× | 1.71× | ||
| Q2 25 | 1.58× | 2.47× | ||
| Q1 25 | 0.14× | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | -2.42× | 4.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRDO
| Other | $132.1M | 49% |
| HK | $104.4M | 39% |
| RESTOFTHEWORLD | $31.5M | 12% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
