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Side-by-side financial comparison of Four Corners Property Trust, Inc. (FCPT) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $78.2M, roughly 1.3× Four Corners Property Trust, Inc.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs -7.0%, a 45.9% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 9.4%). Over the past eight quarters, Four Corners Property Trust, Inc.'s revenue compounded faster (8.4% CAGR vs -4.9%).
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
FCPT vs SWIM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $100.0M |
| Net Profit | $30.4M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 55.3% | -10.7% |
| Net Margin | 38.8% | -7.0% |
| Revenue YoY | 9.4% | 14.5% |
| Net Profit YoY | 16.0% | 76.0% |
| EPS (diluted) | $0.28 | $-0.06 |
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.
| Q1 26 | $78.2M | — | ||
| Q4 25 | $75.7M | $100.0M | ||
| Q3 25 | $74.1M | $161.9M | ||
| Q2 25 | $72.8M | $172.6M | ||
| Q1 25 | $71.5M | $111.4M | ||
| Q4 24 | $68.3M | $87.3M | ||
| Q3 24 | $66.8M | $150.5M | ||
| Q2 24 | $66.5M | $160.1M |
| Q1 26 | $30.4M | — | ||
| Q4 25 | $29.4M | $-7.0M | ||
| Q3 25 | $28.8M | $8.1M | ||
| Q2 25 | $27.9M | $16.0M | ||
| Q1 25 | $26.2M | $-6.0M | ||
| Q4 24 | $26.2M | $-29.2M | ||
| Q3 24 | $25.6M | $5.9M | ||
| Q2 24 | $24.7M | $13.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% |
| Q1 26 | 55.3% | — | ||
| Q4 25 | — | -10.7% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | — | -14.9% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 12.5% |
| Q1 26 | 38.8% | — | ||
| Q4 25 | 38.9% | -7.0% | ||
| Q3 25 | 38.9% | 5.0% | ||
| Q2 25 | 38.3% | 9.3% | ||
| Q1 25 | 36.6% | -5.4% | ||
| Q4 24 | 38.3% | -33.4% | ||
| Q3 24 | 38.3% | 3.9% | ||
| Q2 24 | 37.1% | 8.3% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.27 | $-0.06 | ||
| Q3 25 | $0.28 | $0.07 | ||
| Q2 25 | $0.28 | $0.13 | ||
| Q1 25 | $0.26 | $-0.05 | ||
| Q4 24 | $0.27 | $-0.24 | ||
| Q3 24 | $0.27 | $0.05 | ||
| Q2 24 | $0.27 | $0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.6M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $1.7B | $405.9M |
| Total Assets | $3.0B | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.6M | — | ||
| Q4 25 | $12.1M | — | ||
| Q3 25 | $6.7M | — | ||
| Q2 25 | $6.0M | — | ||
| Q1 25 | $22.3M | — | ||
| Q4 24 | $4.1M | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $17.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $279.8M | ||
| Q3 25 | $1.2B | $281.1M | ||
| Q2 25 | $1.2B | $281.5M | ||
| Q1 25 | $1.2B | $306.9M | ||
| Q4 24 | $1.1B | $281.5M | ||
| Q3 24 | $1.1B | $282.8M | ||
| Q2 24 | $1.2B | $282.4M |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.6B | $405.9M | ||
| Q3 25 | $1.5B | $408.4M | ||
| Q2 25 | $1.5B | $398.4M | ||
| Q1 25 | $1.4B | $381.1M | ||
| Q4 24 | $1.5B | $387.2M | ||
| Q3 24 | $1.4B | $416.6M | ||
| Q2 24 | $1.3B | $408.1M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $823.2M | ||
| Q3 25 | $2.8B | $844.4M | ||
| Q2 25 | $2.8B | $822.1M | ||
| Q1 25 | $2.7B | $824.6M | ||
| Q4 24 | $2.7B | $794.2M | ||
| Q3 24 | $2.6B | $853.4M | ||
| Q2 24 | $2.5B | $830.0M |
| Q1 26 | — | — | ||
| Q4 25 | 0.74× | 0.69× | ||
| Q3 25 | 0.79× | 0.69× | ||
| Q2 25 | 0.81× | 0.71× | ||
| Q1 25 | 0.84× | 0.81× | ||
| Q4 24 | 0.78× | 0.73× | ||
| Q3 24 | 0.84× | 0.68× | ||
| Q2 24 | 0.92× | 0.69× |
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 | — | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $192.3M | $23.3M | ||
| Q3 25 | $48.9M | $51.0M | ||
| Q2 25 | $43.8M | $36.0M | ||
| Q1 25 | $51.6M | $-46.9M | ||
| Q4 24 | $144.1M | $6.2M | ||
| Q3 24 | $43.4M | $37.2M | ||
| Q2 24 | $39.7M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | — | ||
| Q3 25 | 1.70× | 6.29× | ||
| Q2 25 | 1.57× | 2.25× | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.51× | — | ||
| Q3 24 | 1.70× | 6.32× | ||
| Q2 24 | 1.61× | 3.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
