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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $85.1M, roughly 1.1× 4D Molecular Therapeutics, Inc.). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs 22.8%, a 33.2% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -13.3%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 12.3%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
FDMT vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $93.6M |
| Net Profit | $19.4M | $52.4M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | 38.6% |
| Net Margin | 22.8% | 56.0% |
| Revenue YoY | 8508900.0% | -13.3% |
| Net Profit YoY | 139.1% | 12.5% |
| EPS (diluted) | $0.43 | $0.49 |
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 | $85.1M | $93.6M | ||
| Q3 25 | $90.0K | $99.2M | ||
| Q2 25 | $15.0K | $70.2M | ||
| Q1 25 | $14.0K | $44.5M | ||
| Q4 24 | $1.0K | $107.9M | ||
| Q3 24 | $3.0K | $80.9M | ||
| Q2 24 | $5.0K | $71.2M | ||
| Q1 24 | $28.0K | $74.2M |
| Q4 25 | $19.4M | $52.4M | ||
| Q3 25 | $-56.9M | $58.3M | ||
| Q2 25 | $-54.7M | $7.5M | ||
| Q1 25 | $-48.0M | $9.7M | ||
| Q4 24 | — | $46.5M | ||
| Q3 24 | $-43.8M | $41.4M | ||
| Q2 24 | $-35.0M | $25.4M | ||
| Q1 24 | $-32.4M | $47.6M |
| Q4 25 | 17.3% | 38.6% | ||
| Q3 25 | -67983.3% | 47.4% | ||
| Q2 25 | -396373.3% | 24.2% | ||
| Q1 25 | -383007.1% | -14.2% | ||
| Q4 24 | — | 51.1% | ||
| Q3 24 | -1704400.0% | 32.8% | ||
| Q2 24 | -849120.0% | 40.2% | ||
| Q1 24 | -136200.0% | 43.6% |
| Q4 25 | 22.8% | 56.0% | ||
| Q3 25 | -63195.6% | 58.7% | ||
| Q2 25 | -364386.7% | 10.7% | ||
| Q1 25 | -342657.1% | 21.8% | ||
| Q4 24 | — | 43.1% | ||
| Q3 24 | -1461433.3% | 51.2% | ||
| Q2 24 | -699060.0% | 35.7% | ||
| Q1 24 | -115717.9% | 64.2% |
| Q4 25 | $0.43 | $0.49 | ||
| Q3 25 | $-1.01 | $0.55 | ||
| Q2 25 | $-0.98 | $-0.04 | ||
| Q1 25 | $-0.86 | $-0.01 | ||
| Q4 24 | — | $0.45 | ||
| Q3 24 | $-0.79 | $0.36 | ||
| Q2 24 | $-0.63 | $0.17 | ||
| Q1 24 | $-0.66 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $402.7M | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $505.7M | $1.9B |
| Total Assets | $566.7M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $190.5M | ||
| Q3 25 | $305.1M | $181.0M | ||
| Q2 25 | $293.2M | $108.6M | ||
| Q1 25 | $321.4M | $204.2M | ||
| Q4 24 | $424.9M | $103.2M | ||
| Q3 24 | $501.9M | $102.8M | ||
| Q2 24 | $541.9M | $336.3M | ||
| Q1 24 | $525.9M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $505.7M | $1.9B | ||
| Q3 25 | $369.0M | $1.9B | ||
| Q2 25 | $420.9M | $1.9B | ||
| Q1 25 | $469.7M | $1.9B | ||
| Q4 24 | $510.6M | $1.9B | ||
| Q3 24 | $552.9M | $1.9B | ||
| Q2 24 | $588.3M | $1.9B | ||
| Q1 24 | $600.6M | $2.0B |
| Q4 25 | $566.7M | $21.3B | ||
| Q3 25 | $424.0M | $18.5B | ||
| Q2 25 | $473.6M | $16.8B | ||
| Q1 25 | $515.7M | $14.9B | ||
| Q4 24 | $560.4M | $14.4B | ||
| Q3 24 | $604.0M | $13.1B | ||
| Q2 24 | $620.1M | $12.1B | ||
| Q1 24 | $629.9M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $28.6M | $-7.2B |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 33.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.47× | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $-7.2B | ||
| Q3 25 | $-46.5M | $-1.3B | ||
| Q2 25 | $-43.4M | $-2.0B | ||
| Q1 25 | $-47.8M | $-594.3M | ||
| Q4 24 | $-134.6M | $-2.7B | ||
| Q3 24 | $-29.4M | $-983.8M | ||
| Q2 24 | $-30.2M | $243.8M | ||
| Q1 24 | $-29.1M | $-342.4M |
| Q4 25 | $28.5M | — | ||
| Q3 25 | $-46.6M | — | ||
| Q2 25 | $-43.4M | — | ||
| Q1 25 | $-48.4M | — | ||
| Q4 24 | $-138.4M | — | ||
| Q3 24 | $-31.2M | — | ||
| Q2 24 | $-30.6M | — | ||
| Q1 24 | $-29.8M | — |
| Q4 25 | 33.5% | — | ||
| Q3 25 | -51765.6% | — | ||
| Q2 25 | -289620.0% | — | ||
| Q1 25 | -345635.7% | — | ||
| Q4 24 | -13837100.0% | — | ||
| Q3 24 | -1038966.7% | — | ||
| Q2 24 | -611840.0% | — | ||
| Q1 24 | -106421.4% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 101.1% | — | ||
| Q2 25 | 440.0% | — | ||
| Q1 25 | 4507.1% | — | ||
| Q4 24 | 378600.0% | — | ||
| Q3 24 | 59266.7% | — | ||
| Q2 24 | 6980.0% | — | ||
| Q1 24 | 2535.7% | — |
| Q4 25 | 1.47× | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
