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Side-by-side financial comparison of CorMedix Inc. (CRMD) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $128.6M, roughly 1.8× CorMedix Inc.). CorMedix Inc. produced more free cash flow last quarter ($92.7M vs $22.7M).
CorMedix Inc. is a commercial-stage biopharmaceutical company focused on developing and commercializing novel therapeutic products for the prevention and treatment of infectious, inflammatory and cardiorenal diseases. Its lead candidate targets catheter-related bloodstream infections, serving critical care and chronic dialysis patient populations primarily across North America and European markets.
CRMD vs CSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $128.6M | $233.0M |
| Net Profit | — | $10.3M |
| Gross Margin | 83.4% | 39.7% |
| Operating Margin | 46.0% | 7.4% |
| Net Margin | — | 4.4% |
| Revenue YoY | — | 20.3% |
| Net Profit YoY | — | -61.9% |
| EPS (diluted) | $0.20 | $0.62 |
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 | $128.6M | $233.0M | ||
| Q3 25 | $104.3M | $277.0M | ||
| Q2 25 | $39.7M | $263.6M | ||
| Q1 25 | $39.1M | $230.5M | ||
| Q4 24 | — | $193.6M | ||
| Q3 24 | — | $227.9M | ||
| Q2 24 | — | $226.2M | ||
| Q1 24 | — | $210.9M |
| Q4 25 | — | $10.3M | ||
| Q3 25 | $108.6M | $40.7M | ||
| Q2 25 | $19.8M | $40.9M | ||
| Q1 25 | $20.6M | $35.1M | ||
| Q4 24 | — | $26.9M | ||
| Q3 24 | — | $36.1M | ||
| Q2 24 | — | $38.6M | ||
| Q1 24 | — | $31.8M |
| Q4 25 | 83.4% | 39.7% | ||
| Q3 25 | 89.3% | 43.0% | ||
| Q2 25 | 95.3% | 43.8% | ||
| Q1 25 | 95.9% | 44.2% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 47.5% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | 46.0% | 7.4% | ||
| Q3 25 | 49.2% | 20.5% | ||
| Q2 25 | 49.2% | 20.8% | ||
| Q1 25 | 51.5% | 19.5% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 24.3% | ||
| Q1 24 | — | 21.0% |
| Q4 25 | — | 4.4% | ||
| Q3 25 | 104.1% | 14.7% | ||
| Q2 25 | 49.9% | 15.5% | ||
| Q1 25 | 52.8% | 15.2% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 17.1% | ||
| Q1 24 | — | 15.1% |
| Q4 25 | $0.20 | $0.62 | ||
| Q3 25 | $1.26 | $2.41 | ||
| Q2 25 | $0.28 | $2.43 | ||
| Q1 25 | $0.30 | $2.05 | ||
| Q4 24 | — | $1.60 | ||
| Q3 24 | — | $2.26 | ||
| Q2 24 | — | $2.47 | ||
| Q1 24 | — | $2.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.5M | $40.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.3M | $1.1B |
| Total Assets | $826.1M | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $40.2M | ||
| Q3 25 | $55.7M | $31.5M | ||
| Q2 25 | $190.7M | $38.0M | ||
| Q1 25 | $77.5M | $225.8M | ||
| Q4 24 | — | $213.8M | ||
| Q3 24 | — | $273.2M | ||
| Q2 24 | — | $18.9M | ||
| Q1 24 | — | $22.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $166.0M |
| Q4 25 | $405.3M | $1.1B | ||
| Q3 25 | $374.1M | $1.1B | ||
| Q2 25 | $220.6M | $1.1B | ||
| Q1 25 | $114.9M | $1.1B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $650.2M | ||
| Q1 24 | — | $615.7M |
| Q4 25 | $826.1M | $2.3B | ||
| Q3 25 | $750.9M | $1.5B | ||
| Q2 25 | $252.6M | $1.5B | ||
| Q1 25 | $149.6M | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
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 | $94.5M | $28.9M |
| Free Cash FlowOCF − Capex | $92.7M | $22.7M |
| FCF MarginFCF / Revenue | 72.1% | 9.8% |
| Capex IntensityCapex / Revenue | 1.3% | 2.6% |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $172.8M | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.5M | $28.9M | ||
| Q3 25 | $30.9M | $61.8M | ||
| Q2 25 | $30.0M | $60.6M | ||
| Q1 25 | $19.7M | $27.3M | ||
| Q4 24 | — | $11.6M | ||
| Q3 24 | — | $66.8M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $22.4M |
| Q4 25 | $92.7M | $22.7M | ||
| Q3 25 | $30.4M | $58.7M | ||
| Q2 25 | $30.0M | $57.7M | ||
| Q1 25 | $19.7M | $22.8M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $61.3M | ||
| Q2 24 | — | $59.6M | ||
| Q1 24 | — | $17.5M |
| Q4 25 | 72.1% | 9.8% | ||
| Q3 25 | 29.1% | 21.2% | ||
| Q2 25 | 75.4% | 21.9% | ||
| Q1 25 | 50.5% | 9.9% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 26.9% | ||
| Q2 24 | — | 26.3% | ||
| Q1 24 | — | 8.3% |
| Q4 25 | 1.3% | 2.6% | ||
| Q3 25 | 0.5% | 1.1% | ||
| Q2 25 | 0.1% | 1.1% | ||
| Q1 25 | 0.0% | 2.0% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | 2.81× | ||
| Q3 25 | 0.28× | 1.52× | ||
| Q2 25 | 1.51× | 1.48× | ||
| Q1 25 | 0.96× | 0.78× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRMD
| Acquisition Of Melinta | $52.9M | 41% |
| Melinta Portfolio | $45.5M | 35% |
| Other | $18.6M | 14% |
| Contract Revenue | $7.4M | 6% |
| BARDA Agreement | $4.2M | 3% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
