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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $85.1M, roughly 1.2× 4D Molecular Therapeutics, Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 22.8%, a 5.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 6.5%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 2.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
FDMT vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $97.9M |
| Net Profit | $19.4M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 17.3% | 27.4% |
| Net Margin | 22.8% | 28.5% |
| Revenue YoY | 8508900.0% | 6.5% |
| Net Profit YoY | 139.1% | 7.1% |
| EPS (diluted) | $0.43 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $90.0K | $96.2M | ||
| Q2 25 | $15.0K | $93.8M | ||
| Q1 25 | $14.0K | $97.7M | ||
| Q4 24 | $1.0K | $91.9M | ||
| Q3 24 | $3.0K | $90.7M | ||
| Q2 24 | $5.0K | $89.9M | ||
| Q1 24 | $28.0K | $93.2M |
| Q4 25 | $19.4M | $27.9M | ||
| Q3 25 | $-56.9M | $29.3M | ||
| Q2 25 | $-54.7M | $27.9M | ||
| Q1 25 | $-48.0M | $29.4M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | $-43.8M | $19.3M | ||
| Q2 24 | $-35.0M | $29.7M | ||
| Q1 24 | $-32.4M | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | 17.3% | 27.4% | ||
| Q3 25 | -67983.3% | 25.9% | ||
| Q2 25 | -396373.3% | 25.5% | ||
| Q1 25 | -383007.1% | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | -1704400.0% | 17.5% | ||
| Q2 24 | -849120.0% | 26.7% | ||
| Q1 24 | -136200.0% | 26.4% |
| Q4 25 | 22.8% | 28.5% | ||
| Q3 25 | -63195.6% | 30.5% | ||
| Q2 25 | -364386.7% | 29.8% | ||
| Q1 25 | -342657.1% | 30.1% | ||
| Q4 24 | — | 28.3% | ||
| Q3 24 | -1461433.3% | 21.3% | ||
| Q2 24 | -699060.0% | 33.0% | ||
| Q1 24 | -115717.9% | 33.0% |
| Q4 25 | $0.43 | $0.38 | ||
| Q3 25 | $-1.01 | $0.41 | ||
| Q2 25 | $-0.98 | $0.39 | ||
| Q1 25 | $-0.86 | $0.41 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | $-0.79 | $0.27 | ||
| Q2 24 | $-0.63 | $0.42 | ||
| Q1 24 | $-0.66 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $505.7M | $2.4B |
| Total Assets | $566.7M | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $21.7M | ||
| Q3 25 | $305.1M | $12.1M | ||
| Q2 25 | $293.2M | $13.9M | ||
| Q1 25 | $321.4M | $17.3M | ||
| Q4 24 | $424.9M | $8.3M | ||
| Q3 24 | $501.9M | $15.6M | ||
| Q2 24 | $541.9M | $13.4M | ||
| Q1 24 | $525.9M | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $505.7M | $2.4B | ||
| Q3 25 | $369.0M | $2.4B | ||
| Q2 25 | $420.9M | $2.4B | ||
| Q1 25 | $469.7M | $2.4B | ||
| Q4 24 | $510.6M | $2.3B | ||
| Q3 24 | $552.9M | $2.3B | ||
| Q2 24 | $588.3M | $2.3B | ||
| Q1 24 | $600.6M | $2.3B |
| Q4 25 | $566.7M | $7.2B | ||
| Q3 25 | $424.0M | $7.1B | ||
| Q2 25 | $473.6M | $7.1B | ||
| Q1 25 | $515.7M | $6.9B | ||
| Q4 24 | $560.4M | $6.9B | ||
| Q3 24 | $604.0M | $6.8B | ||
| Q2 24 | $620.1M | $6.8B | ||
| Q1 24 | $629.9M | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 33.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.47× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $47.8M | ||
| Q3 25 | $-46.5M | $-1.4M | ||
| Q2 25 | $-43.4M | $28.0M | ||
| Q1 25 | $-47.8M | $8.9M | ||
| Q4 24 | $-134.6M | $37.9M | ||
| Q3 24 | $-29.4M | $8.3M | ||
| Q2 24 | $-30.2M | $24.8M | ||
| Q1 24 | $-29.1M | $-3.1M |
| 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× | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
