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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $37.2M, roughly 1.7× Waterstone Financial, Inc.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 16.7%). Waterstone Financial, Inc. produced more free cash flow last quarter ($23.0M vs $-2.0M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 7.1%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Waterstone Financial, Inc. is a U.S. bank holding company headquartered in Wisconsin. It offers retail and commercial banking services, residential mortgages, and wealth management solutions, primarily serving consumers and small to medium-sized businesses across the U.S. Midwest region.
ESTA vs WSBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $37.2M |
| Net Profit | — | — |
| Gross Margin | 70.5% | — |
| Operating Margin | -6.1% | 27.0% |
| Net Margin | — | — |
| Revenue YoY | 45.2% | 16.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.07 | $0.43 |
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 | $64.6M | $37.2M | ||
| Q3 25 | $53.8M | $37.0M | ||
| Q2 25 | $51.3M | $38.0M | ||
| Q1 25 | $41.4M | $29.7M | ||
| Q4 24 | $44.5M | $31.8M | ||
| Q3 24 | $40.2M | $34.1M | ||
| Q2 24 | $44.1M | $37.2M | ||
| Q1 24 | $37.2M | $32.4M |
| Q4 25 | — | — | ||
| Q3 25 | $-11.1M | $7.9M | ||
| Q2 25 | $-16.6M | $7.7M | ||
| Q1 25 | $-20.7M | $3.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-16.7M | $4.7M | ||
| Q2 24 | $-17.2M | $5.7M | ||
| Q1 24 | $-16.2M | $3.0M |
| Q4 25 | 70.5% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | 68.5% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 65.6% | — | ||
| Q1 24 | 65.6% | — |
| Q4 25 | -6.1% | 27.0% | ||
| Q3 25 | -7.5% | 26.6% | ||
| Q2 25 | -27.5% | 25.4% | ||
| Q1 25 | -41.0% | 13.1% | ||
| Q4 24 | -41.9% | 19.5% | ||
| Q3 24 | -32.7% | 17.3% | ||
| Q2 24 | -21.2% | 19.2% | ||
| Q1 24 | -23.8% | 14.7% |
| Q4 25 | — | — | ||
| Q3 25 | -20.7% | 21.4% | ||
| Q2 25 | -32.3% | 20.3% | ||
| Q1 25 | -50.1% | 10.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | -41.5% | 13.9% | ||
| Q2 24 | -38.9% | 15.4% | ||
| Q1 24 | -43.6% | 9.4% |
| Q4 25 | $-0.07 | $0.43 | ||
| Q3 25 | $-0.38 | $0.45 | ||
| Q2 25 | $-0.57 | $0.43 | ||
| Q1 25 | $-0.70 | $0.17 | ||
| Q4 24 | $-1.21 | $0.28 | ||
| Q3 24 | $-0.59 | $0.26 | ||
| Q2 24 | $-0.62 | $0.31 | ||
| Q1 24 | $-0.58 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | — |
| Total DebtLower is stronger | — | $412.3M |
| Stockholders' EquityBook value | $23.5M | $349.4M |
| Total Assets | $357.2M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | — | ||
| Q3 25 | $70.6M | — | ||
| Q2 25 | $54.6M | — | ||
| Q1 25 | $69.2M | — | ||
| Q4 24 | $90.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $412.3M | ||
| Q3 25 | — | $469.1M | ||
| Q2 25 | — | $465.7M | ||
| Q1 25 | — | $395.9M | ||
| Q4 24 | $0 | $446.5M | ||
| Q3 24 | — | $560.1M | ||
| Q2 24 | — | $660.8M | ||
| Q1 24 | — | $634.2M |
| Q4 25 | $23.5M | $349.4M | ||
| Q3 25 | $16.4M | $345.5M | ||
| Q2 25 | $22.8M | $341.5M | ||
| Q1 25 | $38.5M | $341.4M | ||
| Q4 24 | $53.1M | $339.1M | ||
| Q3 24 | $32.7M | $342.0M | ||
| Q2 24 | $45.0M | $334.9M | ||
| Q1 24 | $56.9M | $338.0M |
| Q4 25 | $357.2M | $2.3B | ||
| Q3 25 | $338.9M | $2.3B | ||
| Q2 25 | $329.7M | $2.3B | ||
| Q1 25 | $333.4M | $2.2B | ||
| Q4 24 | $346.8M | $2.2B | ||
| Q3 24 | $282.7M | $2.2B | ||
| Q2 24 | $285.1M | $2.3B | ||
| Q1 24 | $301.8M | $2.2B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | 0.00× | 1.32× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | 1.88× |
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 | $-162.0K | $24.2M |
| Free Cash FlowOCF − Capex | $-2.0M | $23.0M |
| FCF MarginFCF / Revenue | -3.1% | 61.9% |
| Capex IntensityCapex / Revenue | 2.8% | 3.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $24.2M | ||
| Q3 25 | $-11.3M | $32.7M | ||
| Q2 25 | $-18.8M | $-38.4M | ||
| Q1 25 | $-20.7M | $26.7M | ||
| Q4 24 | $-20.7M | $48.1M | ||
| Q3 24 | $-12.5M | $74.1M | ||
| Q2 24 | $-14.2M | $-39.5M | ||
| Q1 24 | $-11.2M | $-9.9M |
| Q4 25 | $-2.0M | $23.0M | ||
| Q3 25 | $-13.1M | $32.4M | ||
| Q2 25 | $-20.4M | $-38.5M | ||
| Q1 25 | $-21.5M | $26.5M | ||
| Q4 24 | $-21.3M | $47.0M | ||
| Q3 24 | $-13.9M | $73.9M | ||
| Q2 24 | $-15.0M | $-39.7M | ||
| Q1 24 | $-14.5M | $-10.3M |
| Q4 25 | -3.1% | 61.9% | ||
| Q3 25 | -24.4% | 87.5% | ||
| Q2 25 | -39.7% | -101.2% | ||
| Q1 25 | -51.9% | 89.2% | ||
| Q4 24 | -47.8% | 147.5% | ||
| Q3 24 | -34.6% | 216.9% | ||
| Q2 24 | -33.9% | -106.7% | ||
| Q1 24 | -38.9% | -31.9% |
| Q4 25 | 2.8% | 3.1% | ||
| Q3 25 | 3.4% | 0.8% | ||
| Q2 25 | 3.2% | 0.2% | ||
| Q1 25 | 1.8% | 0.9% | ||
| Q4 24 | 1.2% | 3.5% | ||
| Q3 24 | 3.7% | 0.6% | ||
| Q2 24 | 1.8% | 0.4% | ||
| Q1 24 | 8.9% | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | — | -4.98× | ||
| Q1 25 | — | 8.81× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.67× | ||
| Q2 24 | — | -6.92× | ||
| Q1 24 | — | -3.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
