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Side-by-side financial comparison of Ellington Credit Co (EARN) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $6.1M, roughly 1.1× Ellington Credit Co).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
EARN vs RLAY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.1M | $7.0M |
| Net Profit | $-2.0M | — |
| Gross Margin | — | — |
| Operating Margin | -35.6% | — |
| Net Margin | -32.6% | — |
| Revenue YoY | 1528.9% | — |
| Net Profit YoY | -116.1% | — |
| EPS (diluted) | — | — |
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 | — | $7.0M | ||
| Q3 25 | — | $0 | ||
| Q1 25 | — | $7.7M | ||
| Q4 24 | $6.1M | $0 | ||
| Q3 24 | $4.8M | $0 | ||
| Q2 24 | $3.9M | $0 | ||
| Q1 24 | — | $10.0M | ||
| Q1 23 | $-372.0K | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-74.1M | ||
| Q1 25 | — | $-77.1M | ||
| Q4 24 | $-2.0M | — | ||
| Q3 24 | $5.4M | $-88.1M | ||
| Q2 24 | $-815.0K | $-92.2M | ||
| Q1 24 | — | $-81.4M | ||
| Q1 23 | $2.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -1105.2% | ||
| Q4 24 | -35.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -22.8% | — | ||
| Q1 24 | — | -903.0% | ||
| Q1 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -1003.6% | ||
| Q4 24 | -32.6% | — | ||
| Q3 24 | 114.6% | — | ||
| Q2 24 | -20.9% | — | ||
| Q1 24 | — | -813.3% | ||
| Q1 23 | -628.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.43 | ||
| Q1 25 | — | $-0.46 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.69 | ||
| Q1 24 | — | $-0.62 | ||
| Q1 23 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.8M | $84.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $193.7M | $567.1M |
| Total Assets | $824.1M | $621.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $91.6M | ||
| Q1 25 | — | $93.5M | ||
| Q4 24 | $31.8M | $124.3M | ||
| Q3 24 | $25.7M | $152.4M | ||
| Q2 24 | $118.8M | $134.1M | ||
| Q1 24 | — | $152.9M | ||
| Q1 23 | $36.7M | — |
| Q4 25 | — | $567.1M | ||
| Q3 25 | — | $607.7M | ||
| Q1 25 | — | $721.1M | ||
| Q4 24 | $193.7M | $777.8M | ||
| Q3 24 | $191.6M | $838.9M | ||
| Q2 24 | $146.1M | $681.7M | ||
| Q1 24 | — | $745.8M | ||
| Q1 23 | $115.0M | — |
| Q4 25 | — | $621.3M | ||
| Q3 25 | — | $670.0M | ||
| Q1 25 | — | $799.4M | ||
| Q4 24 | $824.1M | $871.3M | ||
| Q3 24 | $752.3M | $930.1M | ||
| Q2 24 | $933.5M | $772.5M | ||
| Q1 24 | — | $841.4M | ||
| Q1 23 | $1.1B | — |
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 | $4.4M | $-235.5M |
| Free Cash FlowOCF − Capex | — | $-235.9M |
| FCF MarginFCF / Revenue | — | -3370.0% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-235.5M | ||
| Q3 25 | — | $-62.1M | ||
| Q1 25 | — | $-73.2M | ||
| Q4 24 | $4.4M | $-249.1M | ||
| Q3 24 | $3.2M | $-75.1M | ||
| Q2 24 | $2.7M | $-65.8M | ||
| Q1 24 | — | $-50.3M | ||
| Q1 23 | $-2.4M | — |
| Q4 25 | — | $-235.9M | ||
| Q3 25 | — | $-62.1M | ||
| Q1 25 | — | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M | ||
| Q1 23 | — | — |
| Q4 25 | — | -3370.0% | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% | ||
| Q1 23 | — | — |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | — | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% | ||
| Q1 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.60× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q1 23 | -1.02× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
