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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and MARA Holdings, Inc. (MARA). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $202.3M, roughly 1.2× MARA Holdings, Inc.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -14298.3%, a 14302.7% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -5.6%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-1.2B). Over the past eight quarters, MARA Holdings, Inc.'s revenue compounded faster (10.7% CAGR vs 5.1%).
MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.
CSW vs MARA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $202.3M |
| Net Profit | $10.3M | $-1.7B |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | -11795.9% |
| Net Margin | 4.4% | -14298.3% |
| Revenue YoY | 20.3% | -5.6% |
| Net Profit YoY | -61.9% | -423.5% |
| EPS (diluted) | $0.62 | $-4.25 |
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 | $202.3M | ||
| Q3 25 | $277.0M | $252.4M | ||
| Q2 25 | $263.6M | $238.5M | ||
| Q1 25 | $230.5M | $213.9M | ||
| Q4 24 | $193.6M | $214.4M | ||
| Q3 24 | $227.9M | $131.6M | ||
| Q2 24 | $226.2M | $145.1M | ||
| Q1 24 | $210.9M | $165.2M |
| Q4 25 | $10.3M | $-1.7B | ||
| Q3 25 | $40.7M | $123.1M | ||
| Q2 25 | $40.9M | $808.2M | ||
| Q1 25 | $35.1M | $-533.4M | ||
| Q4 24 | $26.9M | $528.5M | ||
| Q3 24 | $36.1M | $-124.8M | ||
| Q2 24 | $38.6M | $-199.7M | ||
| Q1 24 | $31.8M | $337.2M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | -2613.4% | ||
| Q3 24 | 45.6% | -1065.0% | ||
| Q2 24 | 47.5% | -587.6% | ||
| Q1 24 | 44.4% | -289.4% |
| Q4 25 | 7.4% | -11795.9% | ||
| Q3 25 | 20.5% | 18.9% | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 19.5% | -253.0% | ||
| Q4 24 | 15.3% | — | ||
| Q3 24 | 22.6% | -130.8% | ||
| Q2 24 | 24.3% | -160.1% | ||
| Q1 24 | 21.0% | — |
| Q4 25 | 4.4% | -14298.3% | ||
| Q3 25 | 14.7% | 48.8% | ||
| Q2 25 | 15.5% | 338.9% | ||
| Q1 25 | 15.2% | -249.4% | ||
| Q4 24 | 13.9% | 5367.4% | ||
| Q3 24 | 15.8% | -94.8% | ||
| Q2 24 | 17.1% | -137.6% | ||
| Q1 24 | 15.1% | 204.1% |
| Q4 25 | $0.62 | $-4.25 | ||
| Q3 25 | $2.41 | $0.27 | ||
| Q2 25 | $2.43 | $1.84 | ||
| Q1 25 | $2.05 | $-1.55 | ||
| Q4 24 | $1.60 | $1.60 | ||
| Q3 24 | $2.26 | $-0.42 | ||
| Q2 24 | $2.47 | $-0.72 | ||
| Q1 24 | $2.03 | $1.26 |
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 | $547.1M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $1.1B | $3.5B |
| Total Assets | $2.3B | $7.3B |
| Debt / EquityLower = less leverage | — | 1.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $547.1M | ||
| Q3 25 | $31.5M | $826.4M | ||
| Q2 25 | $38.0M | $109.5M | ||
| Q1 25 | $225.8M | $196.2M | ||
| Q4 24 | $213.8M | $391.8M | ||
| Q3 24 | $273.2M | $164.3M | ||
| Q2 24 | $18.9M | $256.0M | ||
| Q1 24 | $22.2M | $324.3M |
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | $800.1M | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $618.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $3.5B | ||
| Q3 25 | $1.1B | $5.2B | ||
| Q2 25 | $1.1B | $4.8B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.0B | $4.1B | ||
| Q3 24 | $1.0B | $2.9B | ||
| Q2 24 | $650.2M | $2.6B | ||
| Q1 24 | $615.7M | $2.5B |
| Q4 25 | $2.3B | $7.3B | ||
| Q3 25 | $1.5B | $9.2B | ||
| Q2 25 | $1.5B | $7.7B | ||
| Q1 25 | $1.4B | $6.4B | ||
| Q4 24 | $1.4B | $6.8B | ||
| Q3 24 | $1.4B | $3.6B | ||
| Q2 24 | $1.1B | $3.1B | ||
| Q1 24 | $1.0B | $3.0B |
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | 0.75× | 0.62× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.22× | ||
| 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 | $-802.7M |
| Free Cash FlowOCF − Capex | $22.7M | $-1.2B |
| FCF MarginFCF / Revenue | 9.8% | -598.0% |
| Capex IntensityCapex / Revenue | 2.6% | 201.2% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $-2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $-802.7M | ||
| Q3 25 | $61.8M | $-199.0M | ||
| Q2 25 | $60.6M | $-163.4M | ||
| Q1 25 | $27.3M | $-215.5M | ||
| Q4 24 | $11.6M | $-677.0M | ||
| Q3 24 | $66.8M | $-160.1M | ||
| Q2 24 | $62.7M | $-115.2M | ||
| Q1 24 | $22.4M | $-88.3M |
| Q4 25 | $22.7M | $-1.2B | ||
| Q3 25 | $58.7M | $-283.9M | ||
| Q2 25 | $57.7M | $-282.4M | ||
| Q1 25 | $22.8M | $-254.3M | ||
| Q4 24 | $8.5M | $-927.8M | ||
| Q3 24 | $61.3M | $-198.1M | ||
| Q2 24 | $59.6M | $-132.4M | ||
| Q1 24 | $17.5M | $-97.4M |
| Q4 25 | 9.8% | -598.0% | ||
| Q3 25 | 21.2% | -112.5% | ||
| Q2 25 | 21.9% | -118.4% | ||
| Q1 25 | 9.9% | -118.9% | ||
| Q4 24 | 4.4% | -432.8% | ||
| Q3 24 | 26.9% | -150.5% | ||
| Q2 24 | 26.3% | -91.2% | ||
| Q1 24 | 8.3% | -59.0% |
| Q4 25 | 2.6% | 201.2% | ||
| Q3 25 | 1.1% | 33.6% | ||
| Q2 25 | 1.1% | 49.9% | ||
| Q1 25 | 2.0% | 18.2% | ||
| Q4 24 | 1.6% | 117.0% | ||
| Q3 24 | 2.4% | 28.9% | ||
| Q2 24 | 1.4% | 11.9% | ||
| Q1 24 | 2.3% | 5.5% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | -1.62× | ||
| Q2 25 | 1.48× | -0.20× | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | -1.28× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | -0.26× |
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% |
MARA
Segment breakdown not available.
