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Side-by-side financial comparison of CPI AEROSTRUCTURES INC (CVU) and FONAR CORP (FONR). Click either name above to swap in a different company.
FONAR CORP is the larger business by last-quarter revenue ($25.5M vs $19.4M, roughly 1.3× CPI AEROSTRUCTURES INC). FONAR CORP runs the higher net margin — 8.0% vs 3.6%, a 4.5% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs -10.8%). FONAR CORP produced more free cash flow last quarter ($-227.0K vs $-2.1M). Over the past eight quarters, CPI AEROSTRUCTURES INC's revenue compounded faster (0.9% CAGR vs -0.3%).
CPI Aerostructures Inc., known as CPI Aero, is a contract aircraft component manufacturer based in Edgewood, New York.
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
CVU vs FONR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $19.4M | $25.5M |
| Net Profit | $691.8K | $2.1M |
| Gross Margin | 20.3% | — |
| Operating Margin | 6.4% | 13.5% |
| Net Margin | 3.6% | 8.0% |
| Revenue YoY | -10.8% | 2.4% |
| Net Profit YoY | -28.8% | 4.7% |
| EPS (diluted) | $0.04 | — |
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 | $19.4M | $25.5M | ||
| Q3 25 | $19.3M | $26.0M | ||
| Q2 25 | $15.2M | $27.3M | ||
| Q1 25 | $15.4M | $27.2M | ||
| Q4 24 | $21.8M | $24.9M | ||
| Q3 24 | $19.4M | $25.0M | ||
| Q2 24 | $20.8M | $25.9M | ||
| Q1 24 | $19.1M | $25.7M |
| Q4 25 | $691.8K | $2.1M | ||
| Q3 25 | $1.1M | $2.3M | ||
| Q2 25 | $-1.3M | $729.3K | ||
| Q1 25 | $-1.3M | $2.5M | ||
| Q4 24 | $971.5K | $2.0M | ||
| Q3 24 | $749.7K | $3.1M | ||
| Q2 24 | $1.4M | $830.4K | ||
| Q1 24 | $168.2K | $1.9M |
| Q4 25 | 20.3% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 20.0% | — | ||
| Q3 24 | 21.7% | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | 18.6% | — |
| Q4 25 | 6.4% | 13.5% | ||
| Q3 25 | 9.1% | 14.1% | ||
| Q2 25 | -13.1% | 5.3% | ||
| Q1 25 | -7.7% | 15.2% | ||
| Q4 24 | 9.5% | 11.9% | ||
| Q3 24 | 7.6% | 21.0% | ||
| Q2 24 | 11.2% | 7.4% | ||
| Q1 24 | 4.4% | 16.8% |
| Q4 25 | 3.6% | 8.0% | ||
| Q3 25 | 5.8% | 8.7% | ||
| Q2 25 | -8.7% | 2.7% | ||
| Q1 25 | -8.6% | 9.2% | ||
| Q4 24 | 4.5% | 7.9% | ||
| Q3 24 | 3.9% | 12.6% | ||
| Q2 24 | 6.8% | 3.2% | ||
| Q1 24 | 0.9% | 7.3% |
| Q4 25 | $0.04 | — | ||
| Q3 25 | $0.09 | — | ||
| Q2 25 | $-0.10 | — | ||
| Q1 25 | $-0.10 | — | ||
| Q4 24 | $0.08 | — | ||
| Q3 24 | $0.06 | — | ||
| Q2 24 | $0.11 | — | ||
| Q1 24 | $0.01 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $121.0K |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $25.8M | $176.9M |
| Total Assets | $75.2M | $217.2M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $121.0K | ||
| Q3 25 | — | $122.0K | ||
| Q2 25 | — | $56.5M | ||
| Q1 25 | — | $123.0K | ||
| Q4 24 | — | $121.0K | ||
| Q3 24 | — | $136.0K | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $134.0K |
| Q4 25 | $0 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $26.5K | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $66.9K | ||
| Q1 24 | — | — |
| Q4 25 | $25.8M | $176.9M | ||
| Q3 25 | $25.0M | $174.9M | ||
| Q2 25 | $23.8M | $172.6M | ||
| Q1 25 | $24.9M | $171.9M | ||
| Q4 24 | $25.9M | $169.8M | ||
| Q3 24 | $24.9M | $168.7M | ||
| Q2 24 | $24.1M | $166.0M | ||
| Q1 24 | $22.5M | $165.8M |
| Q4 25 | $75.2M | $217.2M | ||
| Q3 25 | $74.1M | $218.4M | ||
| Q2 25 | $72.3M | $216.9M | ||
| Q1 25 | $65.4M | $214.9M | ||
| Q4 24 | $68.0M | $208.0M | ||
| Q3 24 | $68.9M | $212.3M | ||
| Q2 24 | $70.2M | $214.2M | ||
| Q1 24 | $70.8M | $209.6M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | — |
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 | $-2.1M | $171.0K |
| Free Cash FlowOCF − Capex | $-2.1M | $-227.0K |
| FCF MarginFCF / Revenue | -10.8% | -0.9% |
| Capex IntensityCapex / Revenue | 0.0% | 1.6% |
| Cash ConversionOCF / Net Profit | -3.03× | 0.08× |
| TTM Free Cash FlowTrailing 4 quarters | $-5.3M | $5.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.1M | $171.0K | ||
| Q3 25 | $212.1K | $1.7M | ||
| Q2 25 | $-596.3K | $4.2M | ||
| Q1 25 | $-2.7M | $3.1M | ||
| Q4 24 | $4.4M | $2.2M | ||
| Q3 24 | $715.1K | $1.7M | ||
| Q2 24 | $-591.7K | $4.6M | ||
| Q1 24 | $-960.5K | $2.8M |
| Q4 25 | $-2.1M | $-227.0K | ||
| Q3 25 | $211.1K | $-177.0K | ||
| Q2 25 | $-599.8K | $3.6M | ||
| Q1 25 | $-2.8M | $2.6M | ||
| Q4 24 | $4.3M | $1.5M | ||
| Q3 24 | $586.9K | $-148.0K | ||
| Q2 24 | $-746.9K | $4.2M | ||
| Q1 24 | $-1.0M | $2.6M |
| Q4 25 | -10.8% | -0.9% | ||
| Q3 25 | 1.1% | -0.7% | ||
| Q2 25 | -4.0% | 13.1% | ||
| Q1 25 | -18.1% | 9.4% | ||
| Q4 24 | 19.9% | 6.0% | ||
| Q3 24 | 3.0% | -0.6% | ||
| Q2 24 | -3.6% | 16.1% | ||
| Q1 24 | -5.3% | 10.2% |
| Q4 25 | 0.0% | 1.6% | ||
| Q3 25 | 0.0% | 7.2% | ||
| Q2 25 | 0.0% | 2.4% | ||
| Q1 25 | 0.4% | 2.2% | ||
| Q4 24 | 0.3% | 3.0% | ||
| Q3 24 | 0.7% | 7.2% | ||
| Q2 24 | 0.7% | 1.6% | ||
| Q1 24 | 0.2% | 0.7% |
| Q4 25 | -3.03× | 0.08× | ||
| Q3 25 | 0.19× | 0.75× | ||
| Q2 25 | — | 5.79× | ||
| Q1 25 | — | 1.26× | ||
| Q4 24 | 4.53× | 1.14× | ||
| Q3 24 | 0.95× | 0.53× | ||
| Q2 24 | -0.42× | 5.54× | ||
| Q1 24 | -5.71× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVU
| Government Subcontracts | $16.4M | 85% |
| Commercial Contracts | $2.3M | 12% |
| Prime Government Contracts | $725.8K | 4% |
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
