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Side-by-side financial comparison of enCore Energy Corp. (EU) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
enCore Energy Corp. is the larger business by last-quarter revenue ($12.4M vs $7.0M, roughly 1.8× Relay Therapeutics, Inc.). enCore Energy Corp. produced more free cash flow last quarter ($7.2M vs $-235.9M).
Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
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.
EU vs RLAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.4M | $7.0M |
| Net Profit | $-21.5M | — |
| Gross Margin | 37.9% | — |
| Operating Margin | -135.9% | — |
| Net Margin | -173.9% | — |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.11 | — |
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 | $12.4M | $7.0M | ||
| Q3 25 | $8.9M | $0 | ||
| Q2 25 | $3.7M | — | ||
| Q1 25 | $18.2M | $7.7M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $10.0M |
| Q4 25 | $-21.5M | — | ||
| Q3 25 | $-4.8M | $-74.1M | ||
| Q2 25 | $-6.3M | — | ||
| Q1 25 | $-24.2M | $-77.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-88.1M | ||
| Q2 24 | — | $-92.2M | ||
| Q1 24 | — | $-81.4M |
| Q4 25 | 37.9% | — | ||
| Q3 25 | 43.8% | — | ||
| Q2 25 | 30.8% | — | ||
| Q1 25 | -0.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -135.9% | — | ||
| Q3 25 | -158.2% | — | ||
| Q2 25 | -526.1% | — | ||
| Q1 25 | -85.7% | -1105.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -903.0% |
| Q4 25 | -173.9% | — | ||
| Q3 25 | -53.7% | — | ||
| Q2 25 | -172.7% | — | ||
| Q1 25 | -132.9% | -1003.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -813.3% |
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.03 | $-0.43 | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $-0.13 | $-0.46 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.69 | ||
| Q1 24 | — | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $52.4M | $84.0M |
| Total DebtLower is stronger | $110.0M | — |
| Stockholders' EquityBook value | $229.2M | $567.1M |
| Total Assets | $430.4M | $621.3M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.4M | $84.0M | ||
| Q3 25 | $91.9M | $91.6M | ||
| Q2 25 | $26.9M | — | ||
| Q1 25 | $29.7M | $93.5M | ||
| Q4 24 | — | $124.3M | ||
| Q3 24 | — | $152.4M | ||
| Q2 24 | — | $134.1M | ||
| Q1 24 | — | $152.9M |
| Q4 25 | $110.0M | — | ||
| Q3 25 | $109.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $229.2M | $567.1M | ||
| Q3 25 | $248.6M | $607.7M | ||
| Q2 25 | $264.7M | — | ||
| Q1 25 | $267.9M | $721.1M | ||
| Q4 24 | — | $777.8M | ||
| Q3 24 | — | $838.9M | ||
| Q2 24 | — | $681.7M | ||
| Q1 24 | — | $745.8M |
| Q4 25 | $430.4M | $621.3M | ||
| Q3 25 | $441.9M | $670.0M | ||
| Q2 25 | $359.4M | — | ||
| Q1 25 | $362.6M | $799.4M | ||
| Q4 24 | — | $871.3M | ||
| Q3 24 | — | $930.1M | ||
| Q2 24 | — | $772.5M | ||
| Q1 24 | — | $841.4M |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $12.9M | $-235.5M |
| Free Cash FlowOCF − Capex | $7.2M | $-235.9M |
| FCF MarginFCF / Revenue | 57.8% | -3370.0% |
| Capex IntensityCapex / Revenue | 46.7% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.0M | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.9M | $-235.5M | ||
| Q3 25 | $-20.3M | $-62.1M | ||
| Q2 25 | $-9.9M | — | ||
| Q1 25 | $-7.7M | $-73.2M | ||
| Q4 24 | — | $-249.1M | ||
| Q3 24 | — | $-75.1M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-50.3M |
| Q4 25 | $7.2M | $-235.9M | ||
| Q3 25 | $-26.3M | $-62.1M | ||
| Q2 25 | $-14.1M | — | ||
| Q1 25 | $-11.7M | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M |
| Q4 25 | 57.8% | -3370.0% | ||
| Q3 25 | -296.6% | — | ||
| Q2 25 | -385.2% | — | ||
| Q1 25 | -64.1% | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% |
| Q4 25 | 46.7% | 5.9% | ||
| Q3 25 | 68.0% | — | ||
| Q2 25 | 115.1% | — | ||
| Q1 25 | 21.7% | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
