vs

Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and James River Group Holdings, Inc. (JRVR). Click either name above to swap in a different company.

James River Group Holdings, Inc. is the larger business by last-quarter revenue ($167.7M vs $132.7M, roughly 1.3× Emerald Holding, Inc.). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs -22.8%, a 41.9% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs 24.3%). Emerald Holding, Inc. produced more free cash flow last quarter ($11.7M vs $-23.6M). Over the past eight quarters, Emerald Holding, Inc.'s revenue compounded faster (-0.3% CAGR vs -8.7%).

TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.

James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.

EEX vs JRVR — Head-to-Head

Bigger by revenue
JRVR
JRVR
1.3× larger
JRVR
$167.7M
$132.7M
EEX
Growing faster (revenue YoY)
JRVR
JRVR
+8.1% gap
JRVR
32.4%
24.3%
EEX
Higher net margin
JRVR
JRVR
41.9% more per $
JRVR
19.1%
-22.8%
EEX
More free cash flow
EEX
EEX
$35.3M more FCF
EEX
$11.7M
$-23.6M
JRVR
Faster 2-yr revenue CAGR
EEX
EEX
Annualised
EEX
-0.3%
-8.7%
JRVR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
EEX
EEX
JRVR
JRVR
Revenue
$132.7M
$167.7M
Net Profit
$-30.2M
$32.1M
Gross Margin
Operating Margin
-11.8%
14.6%
Net Margin
-22.8%
19.1%
Revenue YoY
24.3%
32.4%
Net Profit YoY
-692.2%
149.5%
EPS (diluted)
$-0.15
$0.59

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.

Revenue
EEX
EEX
JRVR
JRVR
Q4 25
$132.7M
$167.7M
Q3 25
$77.5M
$172.7M
Q2 25
$105.5M
$174.8M
Q1 25
$147.7M
$172.3M
Q4 24
$106.8M
$126.7M
Q3 24
$72.6M
$191.5M
Q2 24
$86.0M
$188.3M
Q1 24
$133.4M
$201.1M
Net Profit
EEX
EEX
JRVR
JRVR
Q4 25
$-30.2M
$32.1M
Q3 25
$-14.4M
$1.0M
Q2 25
$-1.4M
$4.8M
Q1 25
$15.3M
$9.6M
Q4 24
$5.1M
$-64.8M
Q3 24
$-11.1M
$-39.4M
Q2 24
$-2.8M
$7.6M
Q1 24
$11.0M
$15.4M
Operating Margin
EEX
EEX
JRVR
JRVR
Q4 25
-11.8%
14.6%
Q3 25
-10.1%
1.5%
Q2 25
9.7%
4.2%
Q1 25
24.2%
9.3%
Q4 24
19.5%
-57.0%
Q3 24
-6.5%
-27.1%
Q2 24
7.4%
10.7%
Q1 24
18.2%
16.4%
Net Margin
EEX
EEX
JRVR
JRVR
Q4 25
-22.8%
19.1%
Q3 25
-18.6%
0.6%
Q2 25
-1.3%
2.7%
Q1 25
10.4%
5.6%
Q4 24
4.8%
-51.1%
Q3 24
-15.3%
-20.6%
Q2 24
-3.3%
4.0%
Q1 24
8.2%
7.7%
EPS (diluted)
EEX
EEX
JRVR
JRVR
Q4 25
$-0.15
$0.59
Q3 25
$-0.07
$-0.02
Q2 25
$-0.01
$0.06
Q1 25
$0.08
$0.16
Q4 24
$0.01
$-2.44
Q3 24
$-0.05
$-1.10
Q2 24
$-0.03
$0.13
Q1 24
$0.00
$0.35

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EEX
EEX
JRVR
JRVR
Cash + ST InvestmentsLiquidity on hand
$100.9M
$260.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$338.8M
$538.2M
Total Assets
$1.2B
$4.9B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EEX
EEX
JRVR
JRVR
Q4 25
$100.9M
$260.9M
Q3 25
$95.4M
$238.8M
Q2 25
$156.4M
$220.0M
Q1 25
$276.8M
$279.4M
Q4 24
$194.8M
$362.3M
Q3 24
$188.9M
$359.8M
Q2 24
$193.2M
$672.5M
Q1 24
$186.8M
$305.5M
Stockholders' Equity
EEX
EEX
JRVR
JRVR
Q4 25
$338.8M
$538.2M
Q3 25
$369.5M
$503.6M
Q2 25
$389.4M
$492.6M
Q1 25
$392.1M
$484.5M
Q4 24
$385.9M
$460.9M
Q3 24
$391.1M
$530.3M
Q2 24
$407.6M
$541.8M
Q1 24
$-90.7M
$539.5M
Total Assets
EEX
EEX
JRVR
JRVR
Q4 25
$1.2B
$4.9B
Q3 25
$1.2B
$5.0B
Q2 25
$1.2B
$5.0B
Q1 25
$1.2B
$4.9B
Q4 24
$1.0B
$5.0B
Q3 24
$1.1B
$5.0B
Q2 24
$1.1B
$4.7B
Q1 24
$1.1B
$5.3B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EEX
EEX
JRVR
JRVR
Operating Cash FlowLast quarter
$12.3M
$-18.8M
Free Cash FlowOCF − Capex
$11.7M
$-23.6M
FCF MarginFCF / Revenue
8.8%
-14.1%
Capex IntensityCapex / Revenue
0.5%
2.9%
Cash ConversionOCF / Net Profit
-0.59×
TTM Free Cash FlowTrailing 4 quarters
$41.4M
$-17.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EEX
EEX
JRVR
JRVR
Q4 25
$12.3M
$-18.8M
Q3 25
$1.8M
$34.3M
Q2 25
$15.9M
$25.2M
Q1 25
$12.6M
$-51.5M
Q4 24
$20.6M
$-247.1M
Q3 24
$9.1M
$-269.9M
Q2 24
$9.8M
$-8.7M
Q1 24
$7.3M
$24.1M
Free Cash Flow
EEX
EEX
JRVR
JRVR
Q4 25
$11.7M
$-23.6M
Q3 25
$1.5M
$33.7M
Q2 25
$15.8M
$24.7M
Q1 25
$12.4M
$-52.7M
Q4 24
$19.9M
$-252.0M
Q3 24
$9.0M
$-270.8M
Q2 24
$9.6M
$-9.3M
Q1 24
$7.0M
$23.3M
FCF Margin
EEX
EEX
JRVR
JRVR
Q4 25
8.8%
-14.1%
Q3 25
1.9%
19.5%
Q2 25
15.0%
14.1%
Q1 25
8.4%
-30.6%
Q4 24
18.6%
-198.9%
Q3 24
12.4%
-141.4%
Q2 24
11.2%
-4.9%
Q1 24
5.2%
11.6%
Capex Intensity
EEX
EEX
JRVR
JRVR
Q4 25
0.5%
2.9%
Q3 25
0.4%
0.4%
Q2 25
0.1%
0.3%
Q1 25
0.1%
0.7%
Q4 24
0.7%
3.9%
Q3 24
0.1%
0.4%
Q2 24
0.2%
0.3%
Q1 24
0.2%
0.4%
Cash Conversion
EEX
EEX
JRVR
JRVR
Q4 25
-0.59×
Q3 25
33.61×
Q2 25
5.29×
Q1 25
0.82×
-5.38×
Q4 24
4.04×
Q3 24
Q2 24
-1.14×
Q1 24
0.66×
1.56×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

EEX
EEX

Connections Segment$121.9M92%
Commerce Segment$5.5M4%
Content$5.3M4%

JRVR
JRVR

Excess And Surplus Lines$156.7M93%
Specialty Admitted Insurance$10.9M7%

Related Comparisons