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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and LIQUIDITY SERVICES INC (LQDT). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $121.2M, roughly 1.9× LIQUIDITY SERVICES INC). LIQUIDITY SERVICES INC runs the higher net margin — 6.2% vs 4.4%, a 1.8% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -0.9%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-2.8M). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (15.1% CAGR vs 5.1%).
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
CSW vs LQDT — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $121.2M |
| Net Profit | $10.3M | $7.5M |
| Gross Margin | 39.7% | 47.0% |
| Operating Margin | 7.4% | 7.7% |
| Net Margin | 4.4% | 6.2% |
| Revenue YoY | 20.3% | -0.9% |
| Net Profit YoY | -61.9% | 28.9% |
| EPS (diluted) | $0.62 | $0.23 |
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 | $121.2M | ||
| Q3 25 | $277.0M | $118.1M | ||
| Q2 25 | $263.6M | $119.9M | ||
| Q1 25 | $230.5M | $116.4M | ||
| Q4 24 | $193.6M | $122.3M | ||
| Q3 24 | $227.9M | $106.9M | ||
| Q2 24 | $226.2M | $93.6M | ||
| Q1 24 | $210.9M | $91.5M |
| Q4 25 | $10.3M | $7.5M | ||
| Q3 25 | $40.7M | $7.8M | ||
| Q2 25 | $40.9M | $7.4M | ||
| Q1 25 | $35.1M | $7.1M | ||
| Q4 24 | $26.9M | $5.8M | ||
| Q3 24 | $36.1M | $6.4M | ||
| Q2 24 | $38.6M | $6.0M | ||
| Q1 24 | $31.8M | $5.7M |
| Q4 25 | 39.7% | 47.0% | ||
| Q3 25 | 43.0% | 47.8% | ||
| Q2 25 | 43.8% | 45.7% | ||
| Q1 25 | 44.2% | 40.8% | ||
| Q4 24 | 41.4% | 41.0% | ||
| Q3 24 | 45.6% | 45.6% | ||
| Q2 24 | 47.5% | 52.8% | ||
| Q1 24 | 44.4% | 51.6% |
| Q4 25 | 7.4% | 7.7% | ||
| Q3 25 | 20.5% | 9.3% | ||
| Q2 25 | 20.8% | 8.5% | ||
| Q1 25 | 19.5% | 5.8% | ||
| Q4 24 | 15.3% | 5.8% | ||
| Q3 24 | 22.6% | 6.8% | ||
| Q2 24 | 24.3% | 8.4% | ||
| Q1 24 | 21.0% | 7.2% |
| Q4 25 | 4.4% | 6.2% | ||
| Q3 25 | 14.7% | 6.6% | ||
| Q2 25 | 15.5% | 6.2% | ||
| Q1 25 | 15.2% | 6.1% | ||
| Q4 24 | 13.9% | 4.7% | ||
| Q3 24 | 15.8% | 6.0% | ||
| Q2 24 | 17.1% | 6.4% | ||
| Q1 24 | 15.1% | 6.2% |
| Q4 25 | $0.62 | $0.23 | ||
| Q3 25 | $2.41 | $0.24 | ||
| Q2 25 | $2.43 | $0.23 | ||
| Q1 25 | $2.05 | $0.22 | ||
| Q4 24 | $1.60 | $0.18 | ||
| Q3 24 | $2.26 | $0.20 | ||
| Q2 24 | $2.47 | $0.19 | ||
| Q1 24 | $2.03 | $0.18 |
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 | $11.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $215.3M |
| Total Assets | $2.3B | $369.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $11.6M | ||
| Q3 25 | $31.5M | $11.2M | ||
| Q2 25 | $38.0M | $11.4M | ||
| Q1 25 | $225.8M | $10.5M | ||
| Q4 24 | $213.8M | $10.4M | ||
| Q3 24 | $273.2M | $2.3M | ||
| Q2 24 | $18.9M | $6.5M | ||
| Q1 24 | $22.2M | $8.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $215.3M | ||
| Q3 25 | $1.1B | $203.2M | ||
| Q2 25 | $1.1B | $208.7M | ||
| Q1 25 | $1.1B | $196.3M | ||
| Q4 24 | $1.0B | $189.2M | ||
| Q3 24 | $1.0B | $182.6M | ||
| Q2 24 | $650.2M | $172.0M | ||
| Q1 24 | $615.7M | $163.9M |
| Q4 25 | $2.3B | $369.1M | ||
| Q3 25 | $1.5B | $375.1M | ||
| Q2 25 | $1.5B | $372.4M | ||
| Q1 25 | $1.4B | $358.8M | ||
| Q4 24 | $1.4B | $333.2M | ||
| Q3 24 | $1.4B | $346.9M | ||
| Q2 24 | $1.1B | $325.5M | ||
| Q1 24 | $1.0B | $303.7M |
| 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 | $28.9M | $-526.0K |
| Free Cash FlowOCF − Capex | $22.7M | $-2.8M |
| FCF MarginFCF / Revenue | 9.8% | -2.3% |
| Capex IntensityCapex / Revenue | 2.6% | 1.9% |
| Cash ConversionOCF / Net Profit | 2.81× | -0.07× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $70.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $-526.0K | ||
| Q3 25 | $61.8M | $38.0M | ||
| Q2 25 | $60.6M | $19.3M | ||
| Q1 25 | $27.3M | $21.6M | ||
| Q4 24 | $11.6M | $-12.1M | ||
| Q3 24 | $66.8M | $22.0M | ||
| Q2 24 | $62.7M | $22.2M | ||
| Q1 24 | $22.4M | $34.8M |
| Q4 25 | $22.7M | $-2.8M | ||
| Q3 25 | $58.7M | $36.0M | ||
| Q2 25 | $57.7M | $17.2M | ||
| Q1 25 | $22.8M | $19.8M | ||
| Q4 24 | $8.5M | $-14.0M | ||
| Q3 24 | $61.3M | $19.2M | ||
| Q2 24 | $59.6M | $20.3M | ||
| Q1 24 | $17.5M | $32.5M |
| Q4 25 | 9.8% | -2.3% | ||
| Q3 25 | 21.2% | 30.5% | ||
| Q2 25 | 21.9% | 14.3% | ||
| Q1 25 | 9.9% | 17.0% | ||
| Q4 24 | 4.4% | -11.4% | ||
| Q3 24 | 26.9% | 17.9% | ||
| Q2 24 | 26.3% | 21.7% | ||
| Q1 24 | 8.3% | 35.5% |
| Q4 25 | 2.6% | 1.9% | ||
| Q3 25 | 1.1% | 1.7% | ||
| Q2 25 | 1.1% | 1.8% | ||
| Q1 25 | 2.0% | 1.6% | ||
| Q4 24 | 1.6% | 1.5% | ||
| Q3 24 | 2.4% | 2.7% | ||
| Q2 24 | 1.4% | 2.1% | ||
| Q1 24 | 2.3% | 2.6% |
| Q4 25 | 2.81× | -0.07× | ||
| Q3 25 | 1.52× | 4.86× | ||
| Q2 25 | 1.48× | 2.60× | ||
| Q1 25 | 0.78× | 3.07× | ||
| Q4 24 | 0.43× | -2.09× | ||
| Q3 24 | 1.85× | 3.45× | ||
| Q2 24 | 1.62× | 3.71× | ||
| Q1 24 | 0.71× | 6.10× |
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% |
LQDT
| RSCG | $82.0M | 68% |
| Gov Deals | $22.3M | 18% |
| CAG | $11.5M | 9% |
| Machinio And Software Solutions Corporation | $5.5M | 5% |
