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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Flywire Corp (FLYW). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $157.5M, roughly 1.5× Flywire Corp). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs 0.0%, a 4.4% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 20.3%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $4.5M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 5.1%).
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
CSW vs FLYW — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $157.5M |
| Net Profit | $10.3M | $33.0K |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | -0.6% |
| Net Margin | 4.4% | 0.0% |
| Revenue YoY | 20.3% | 34.0% |
| Net Profit YoY | -61.9% | 100.2% |
| EPS (diluted) | $0.62 | $0.01 |
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 | $233.0M | $157.5M | ||
| Q3 25 | $277.0M | $200.1M | ||
| Q2 25 | $263.6M | $131.9M | ||
| Q1 25 | $230.5M | $133.5M | ||
| Q4 24 | $193.6M | $117.5M | ||
| Q3 24 | $227.9M | $156.8M | ||
| Q2 24 | $226.2M | $103.7M | ||
| Q1 24 | $210.9M | $114.1M |
| Q4 25 | $10.3M | $33.0K | ||
| Q3 25 | $40.7M | $29.6M | ||
| Q2 25 | $40.9M | $-12.0M | ||
| Q1 25 | $35.1M | $-4.2M | ||
| Q4 24 | $26.9M | $-15.9M | ||
| Q3 24 | $36.1M | $38.9M | ||
| Q2 24 | $38.6M | $-13.9M | ||
| Q1 24 | $31.8M | $-6.2M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | -0.6% | ||
| Q3 25 | 20.5% | 16.1% | ||
| Q2 25 | 20.8% | -6.8% | ||
| Q1 25 | 19.5% | -8.2% | ||
| Q4 24 | 15.3% | -4.9% | ||
| Q3 24 | 22.6% | 12.9% | ||
| Q2 24 | 24.3% | -15.2% | ||
| Q1 24 | 21.0% | -5.2% |
| Q4 25 | 4.4% | 0.0% | ||
| Q3 25 | 14.7% | 14.8% | ||
| Q2 25 | 15.5% | -9.1% | ||
| Q1 25 | 15.2% | -3.1% | ||
| Q4 24 | 13.9% | -13.5% | ||
| Q3 24 | 15.8% | 24.8% | ||
| Q2 24 | 17.1% | -13.4% | ||
| Q1 24 | 15.1% | -5.4% |
| Q4 25 | $0.62 | $0.01 | ||
| Q3 25 | $2.41 | $0.23 | ||
| Q2 25 | $2.43 | $-0.10 | ||
| Q1 25 | $2.05 | $-0.03 | ||
| Q4 24 | $1.60 | $-0.12 | ||
| Q3 24 | $2.26 | $0.30 | ||
| Q2 24 | $2.47 | $-0.11 | ||
| Q1 24 | $2.03 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $355.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $835.2M |
| Total Assets | $2.3B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $355.0M | ||
| Q3 25 | $31.5M | $377.3M | ||
| Q2 25 | $38.0M | $274.2M | ||
| Q1 25 | $225.8M | $255.3M | ||
| Q4 24 | $213.8M | $611.1M | ||
| Q3 24 | $273.2M | $681.1M | ||
| Q2 24 | $18.9M | $571.0M | ||
| Q1 24 | $22.2M | $619.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $15.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | $800.1M | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $835.2M | ||
| Q3 25 | $1.1B | $829.1M | ||
| Q2 25 | $1.1B | $792.4M | ||
| Q1 25 | $1.1B | $784.3M | ||
| Q4 24 | $1.0B | $814.8M | ||
| Q3 24 | $1.0B | $843.2M | ||
| Q2 24 | $650.2M | $802.6M | ||
| Q1 24 | $615.7M | $-797.0M |
| Q4 25 | $2.3B | $1.3B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.1B | $998.7M | ||
| Q1 24 | $1.0B | $998.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | 0.75× | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| 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 | $28.9M | $4.9M |
| Free Cash FlowOCF − Capex | $22.7M | $4.5M |
| FCF MarginFCF / Revenue | 9.8% | 2.9% |
| Capex IntensityCapex / Revenue | 2.6% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.81× | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $4.9M | ||
| Q3 25 | $61.8M | $150.1M | ||
| Q2 25 | $60.6M | $24.1M | ||
| Q1 25 | $27.3M | $-78.9M | ||
| Q4 24 | $11.6M | $-28.6M | ||
| Q3 24 | $66.8M | $184.6M | ||
| Q2 24 | $62.7M | $-19.3M | ||
| Q1 24 | $22.4M | $-38.1M |
| Q4 25 | $22.7M | $4.5M | ||
| Q3 25 | $58.7M | $149.9M | ||
| Q2 25 | $57.7M | $23.5M | ||
| Q1 25 | $22.8M | $-79.1M | ||
| Q4 24 | $8.5M | $-28.7M | ||
| Q3 24 | $61.3M | $184.4M | ||
| Q2 24 | $59.6M | $-19.7M | ||
| Q1 24 | $17.5M | $-38.3M |
| Q4 25 | 9.8% | 2.9% | ||
| Q3 25 | 21.2% | 74.9% | ||
| Q2 25 | 21.9% | 17.8% | ||
| Q1 25 | 9.9% | -59.3% | ||
| Q4 24 | 4.4% | -24.4% | ||
| Q3 24 | 26.9% | 117.6% | ||
| Q2 24 | 26.3% | -19.0% | ||
| Q1 24 | 8.3% | -33.6% |
| Q4 25 | 2.6% | 0.2% | ||
| Q3 25 | 1.1% | 0.1% | ||
| Q2 25 | 1.1% | 0.4% | ||
| Q1 25 | 2.0% | 0.1% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 2.4% | 0.1% | ||
| Q2 24 | 1.4% | 0.3% | ||
| Q1 24 | 2.3% | 0.2% |
| Q4 25 | 2.81× | 148.06× | ||
| Q3 25 | 1.52× | 5.07× | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | 4.75× | ||
| 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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
