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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $57.6M, roughly 1.4× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 8.7%).
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.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
EFC vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $57.6M |
| Net Profit | $22.6M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | 7.4% | — |
| Net Margin | 28.9% | — |
| Revenue YoY | 8.7% | 94.1% |
| Net Profit YoY | -26.2% | 71.6% |
| EPS (diluted) | $0.10 | — |
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 | $78.2M | $57.6M | ||
| Q3 25 | $82.8M | $49.5M | ||
| Q2 25 | $92.5M | $39.5M | ||
| Q1 25 | $82.9M | $28.5M | ||
| Q4 24 | $72.0M | $29.7M | ||
| Q3 24 | $67.0M | $16.4M | ||
| Q2 24 | $91.2M | $7.3M | ||
| Q1 24 | $75.5M | — |
| Q4 25 | $22.6M | — | ||
| Q3 25 | $29.5M | $-30.0M | ||
| Q2 25 | $42.9M | $-75.8M | ||
| Q1 25 | $31.6M | $-94.3M | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $16.2M | $-85.6M | ||
| Q2 24 | $52.3M | $-91.4M | ||
| Q1 24 | $26.9M | — |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% | ||
| Q1 24 | — | — |
| Q4 25 | 7.4% | — | ||
| Q3 25 | 31.1% | -30.8% | ||
| Q2 25 | 38.3% | -151.7% | ||
| Q1 25 | 37.3% | -276.5% | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 24.0% | -433.0% | ||
| Q2 24 | 52.8% | -1055.4% | ||
| Q1 24 | 42.2% | — |
| Q4 25 | 28.9% | — | ||
| Q3 25 | 35.7% | -60.5% | ||
| Q2 25 | 46.4% | -191.9% | ||
| Q1 25 | 38.2% | -330.7% | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 24.1% | -523.3% | ||
| Q2 24 | 57.4% | -1248.6% | ||
| Q1 24 | 35.6% | — |
| Q4 25 | $0.10 | — | ||
| Q3 25 | $0.29 | $-0.41 | ||
| Q2 25 | $0.45 | $-1.05 | ||
| Q1 25 | $0.35 | $-1.31 | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.19 | $-1.32 | ||
| Q2 24 | $0.62 | $-1.56 | ||
| Q1 24 | $0.32 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $201.9M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $1.8B | $-438.2M |
| Total Assets | $19.4B | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $130.0M | ||
| Q3 25 | $184.8M | $135.2M | ||
| Q2 25 | $211.0M | $149.6M | ||
| Q1 25 | $203.3M | $212.3M | ||
| Q4 24 | $192.4M | $297.3M | ||
| Q3 24 | $217.7M | $334.7M | ||
| Q2 24 | $198.5M | $276.2M | ||
| Q1 24 | $187.5M | — |
| Q4 25 | — | $209.1M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $205.1M | ||
| Q1 25 | — | $203.2M | ||
| Q4 24 | — | $201.4M | ||
| Q3 24 | — | $175.7M | ||
| Q2 24 | — | $174.4M | ||
| Q1 24 | — | — |
| Q4 25 | $1.8B | $-438.2M | ||
| Q3 25 | $1.8B | $-422.5M | ||
| Q2 25 | $1.7B | $-405.8M | ||
| Q1 25 | $1.6B | $-338.4M | ||
| Q4 24 | $1.6B | $-253.6M | ||
| Q3 24 | $1.6B | $-187.1M | ||
| Q2 24 | $1.6B | $-233.8M | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $19.4B | $259.1M | ||
| Q3 25 | $17.8B | $240.3M | ||
| Q2 25 | $17.1B | $250.2M | ||
| Q1 25 | $16.6B | $294.2M | ||
| Q4 24 | $16.3B | $378.3M | ||
| Q3 24 | $16.0B | $387.0M | ||
| Q2 24 | $15.1B | $319.4M | ||
| Q1 24 | $15.1B | — |
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 | $-925.5M | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | 0.0% | 0.4% |
| Cash ConversionOCF / Net Profit | -40.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $-166.8M | ||
| Q3 25 | $-290.4M | $-14.1M | ||
| Q2 25 | $-210.5M | $-62.7M | ||
| Q1 25 | $-126.4M | $-84.9M | ||
| Q4 24 | $-430.5M | $-266.8M | ||
| Q3 24 | $-141.7M | $-63.6M | ||
| Q2 24 | $-88.6M | $-70.7M | ||
| Q1 24 | $-59.5M | — |
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | — | $-70.8M | ||
| Q1 24 | — | — |
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | — | -966.2% | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.0% | — |
| Q4 25 | -40.92× | — | ||
| Q3 25 | -9.84× | — | ||
| Q2 25 | -4.90× | — | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | — | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | — | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
