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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and MATRIX SERVICE CO (MTRX). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $210.5M, roughly 1.1× MATRIX SERVICE CO). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -0.4%, a 4.8% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 12.5%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $6.3M). Over the past eight quarters, MATRIX SERVICE CO's revenue compounded faster (12.6% CAGR vs 5.1%).
Matrix Telecom, Inc., operating as Matrix Business Technologies, Trinsic, Powered by Matrix, Excel Telecommunications and various other niche brands is a United States telecommunications firm that provides voice and data services to consumers and small and medium businesses as well as multi-location distributed enterprise markets. The firm also provides wholesale voice services to the telecommunications, wireless and cable industries.
CSW vs MTRX — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $210.5M |
| Net Profit | $10.3M | $-894.0K |
| Gross Margin | 39.7% | 6.2% |
| Operating Margin | 7.4% | -1.0% |
| Net Margin | 4.4% | -0.4% |
| Revenue YoY | 20.3% | 12.5% |
| Net Profit YoY | -61.9% | 83.8% |
| EPS (diluted) | $0.62 | $-0.03 |
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 | $210.5M | ||
| Q3 25 | $277.0M | $211.9M | ||
| Q2 25 | $263.6M | $216.4M | ||
| Q1 25 | $230.5M | $200.2M | ||
| Q4 24 | $193.6M | $187.2M | ||
| Q3 24 | $227.9M | $165.6M | ||
| Q2 24 | $226.2M | $189.5M | ||
| Q1 24 | $210.9M | $166.0M |
| Q4 25 | $10.3M | $-894.0K | ||
| Q3 25 | $40.7M | $-3.7M | ||
| Q2 25 | $40.9M | $-11.3M | ||
| Q1 25 | $35.1M | $-3.4M | ||
| Q4 24 | $26.9M | $-5.5M | ||
| Q3 24 | $36.1M | $-9.2M | ||
| Q2 24 | $38.6M | $-4.4M | ||
| Q1 24 | $31.8M | $-14.6M |
| Q4 25 | 39.7% | 6.2% | ||
| Q3 25 | 43.0% | 6.7% | ||
| Q2 25 | 43.8% | 3.8% | ||
| Q1 25 | 44.2% | 6.4% | ||
| Q4 24 | 41.4% | 5.8% | ||
| Q3 24 | 45.6% | 4.7% | ||
| Q2 24 | 47.5% | 6.6% | ||
| Q1 24 | 44.4% | 3.4% |
| Q4 25 | 7.4% | -1.0% | ||
| Q3 25 | 20.5% | -2.6% | ||
| Q2 25 | 20.8% | -6.0% | ||
| Q1 25 | 19.5% | -2.5% | ||
| Q4 24 | 15.3% | -3.4% | ||
| Q3 24 | 22.6% | -6.5% | ||
| Q2 24 | 24.3% | -2.8% | ||
| Q1 24 | 21.0% | -8.7% |
| Q4 25 | 4.4% | -0.4% | ||
| Q3 25 | 14.7% | -1.7% | ||
| Q2 25 | 15.5% | -5.2% | ||
| Q1 25 | 15.2% | -1.7% | ||
| Q4 24 | 13.9% | -3.0% | ||
| Q3 24 | 15.8% | -5.6% | ||
| Q2 24 | 17.1% | -2.3% | ||
| Q1 24 | 15.1% | -8.8% |
| Q4 25 | $0.62 | $-0.03 | ||
| Q3 25 | $2.41 | $-0.13 | ||
| Q2 25 | $2.43 | $-0.41 | ||
| Q1 25 | $2.05 | $-0.12 | ||
| Q4 24 | $1.60 | $-0.20 | ||
| Q3 24 | $2.26 | $-0.33 | ||
| Q2 24 | $2.47 | $-0.16 | ||
| Q1 24 | $2.03 | $-0.53 |
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 | $199.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $137.6M |
| Total Assets | $2.3B | $650.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $199.0M | ||
| Q3 25 | $31.5M | $192.3M | ||
| Q2 25 | $38.0M | $224.6M | ||
| Q1 25 | $225.8M | $185.5M | ||
| Q4 24 | $213.8M | $156.8M | ||
| Q3 24 | $273.2M | $124.6M | ||
| Q2 24 | $18.9M | $115.6M | ||
| Q1 24 | $22.2M | $69.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $137.6M | ||
| Q3 25 | $1.1B | $136.3M | ||
| Q2 25 | $1.1B | $142.7M | ||
| Q1 25 | $1.1B | $150.7M | ||
| Q4 24 | $1.0B | $151.9M | ||
| Q3 24 | $1.0B | $156.5M | ||
| Q2 24 | $650.2M | $164.2M | ||
| Q1 24 | $615.7M | $165.8M |
| Q4 25 | $2.3B | $650.2M | ||
| Q3 25 | $1.5B | $598.2M | ||
| Q2 25 | $1.5B | $600.3M | ||
| Q1 25 | $1.4B | $613.7M | ||
| Q4 24 | $1.4B | $513.8M | ||
| Q3 24 | $1.4B | $470.2M | ||
| Q2 24 | $1.1B | $451.4M | ||
| Q1 24 | $1.0B | $440.0M |
| 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 | $7.5M |
| Free Cash FlowOCF − Capex | $22.7M | $6.3M |
| FCF MarginFCF / Revenue | 9.8% | 3.0% |
| Capex IntensityCapex / Revenue | 2.6% | 0.6% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $45.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $7.5M | ||
| Q3 25 | $61.8M | $-25.9M | ||
| Q2 25 | $60.6M | $40.7M | ||
| Q1 25 | $27.3M | $31.2M | ||
| Q4 24 | $11.6M | $33.6M | ||
| Q3 24 | $66.8M | $11.9M | ||
| Q2 24 | $62.7M | $47.0M | ||
| Q1 24 | $22.4M | $24.8M |
| Q4 25 | $22.7M | $6.3M | ||
| Q3 25 | $58.7M | $-27.9M | ||
| Q2 25 | $57.7M | $38.4M | ||
| Q1 25 | $22.8M | $28.7M | ||
| Q4 24 | $8.5M | $32.7M | ||
| Q3 24 | $61.3M | $10.0M | ||
| Q2 24 | $59.6M | $45.7M | ||
| Q1 24 | $17.5M | $20.0M |
| Q4 25 | 9.8% | 3.0% | ||
| Q3 25 | 21.2% | -13.2% | ||
| Q2 25 | 21.9% | 17.8% | ||
| Q1 25 | 9.9% | 14.3% | ||
| Q4 24 | 4.4% | 17.5% | ||
| Q3 24 | 26.9% | 6.0% | ||
| Q2 24 | 26.3% | 24.1% | ||
| Q1 24 | 8.3% | 12.1% |
| Q4 25 | 2.6% | 0.6% | ||
| Q3 25 | 1.1% | 0.9% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | 2.0% | 1.3% | ||
| Q4 24 | 1.6% | 0.5% | ||
| Q3 24 | 2.4% | 1.2% | ||
| Q2 24 | 1.4% | 0.7% | ||
| Q1 24 | 2.3% | 2.9% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
MTRX
| Storage And Terminal Solutions | $99.9M | 47% |
| Utility And Power Infrastructure | $75.4M | 36% |
| Process And Industrial Facilities | $35.3M | 17% |
