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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) 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 $85.1M, roughly 1.2× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -7.0%, a 29.8% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 14.5%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $14.1M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs -4.9%).
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.
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.
FDMT vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $100.0M |
| Net Profit | $19.4M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 17.3% | -10.7% |
| Net Margin | 22.8% | -7.0% |
| Revenue YoY | 8508900.0% | 14.5% |
| Net Profit YoY | 139.1% | 76.0% |
| EPS (diluted) | $0.43 | $-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.
| Q4 25 | $85.1M | $100.0M | ||
| Q3 25 | $90.0K | $161.9M | ||
| Q2 25 | $15.0K | $172.6M | ||
| Q1 25 | $14.0K | $111.4M | ||
| Q4 24 | $1.0K | $87.3M | ||
| Q3 24 | $3.0K | $150.5M | ||
| Q2 24 | $5.0K | $160.1M | ||
| Q1 24 | $28.0K | $110.6M |
| Q4 25 | $19.4M | $-7.0M | ||
| Q3 25 | $-56.9M | $8.1M | ||
| Q2 25 | $-54.7M | $16.0M | ||
| Q1 25 | $-48.0M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $-43.8M | $5.9M | ||
| Q2 24 | $-35.0M | $13.3M | ||
| Q1 24 | $-32.4M | $-7.9M |
| 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 24 | — | 27.7% |
| Q4 25 | 17.3% | -10.7% | ||
| Q3 25 | -67983.3% | 13.3% | ||
| Q2 25 | -396373.3% | 14.3% | ||
| Q1 25 | -383007.1% | -4.4% | ||
| Q4 24 | — | -14.9% | ||
| Q3 24 | -1704400.0% | 8.9% | ||
| Q2 24 | -849120.0% | 12.5% | ||
| Q1 24 | -136200.0% | -1.9% |
| Q4 25 | 22.8% | -7.0% | ||
| Q3 25 | -63195.6% | 5.0% | ||
| Q2 25 | -364386.7% | 9.3% | ||
| Q1 25 | -342657.1% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | -1461433.3% | 3.9% | ||
| Q2 24 | -699060.0% | 8.3% | ||
| Q1 24 | -115717.9% | -7.1% |
| Q4 25 | $0.43 | $-0.06 | ||
| Q3 25 | $-1.01 | $0.07 | ||
| Q2 25 | $-0.98 | $0.13 | ||
| Q1 25 | $-0.86 | $-0.05 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $-0.79 | $0.05 | ||
| Q2 24 | $-0.63 | $0.11 | ||
| Q1 24 | $-0.66 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $505.7M | $405.9M |
| Total Assets | $566.7M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | — | ||
| Q3 25 | $305.1M | — | ||
| Q2 25 | $293.2M | — | ||
| Q1 25 | $321.4M | — | ||
| Q4 24 | $424.9M | — | ||
| Q3 24 | $501.9M | — | ||
| Q2 24 | $541.9M | — | ||
| Q1 24 | $525.9M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $505.7M | $405.9M | ||
| Q3 25 | $369.0M | $408.4M | ||
| Q2 25 | $420.9M | $398.4M | ||
| Q1 25 | $469.7M | $381.1M | ||
| Q4 24 | $510.6M | $387.2M | ||
| Q3 24 | $552.9M | $416.6M | ||
| Q2 24 | $588.3M | $408.1M | ||
| Q1 24 | $600.6M | $391.8M |
| Q4 25 | $566.7M | $823.2M | ||
| Q3 25 | $424.0M | $844.4M | ||
| Q2 25 | $473.6M | $822.1M | ||
| Q1 25 | $515.7M | $824.6M | ||
| Q4 24 | $560.4M | $794.2M | ||
| Q3 24 | $604.0M | $853.4M | ||
| Q2 24 | $620.1M | $830.0M | ||
| Q1 24 | $629.9M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $28.5M | $14.1M |
| FCF MarginFCF / Revenue | 33.5% | 14.1% |
| Capex IntensityCapex / Revenue | 0.1% | 9.2% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $23.3M | ||
| Q3 25 | $-46.5M | $51.0M | ||
| Q2 25 | $-43.4M | $36.0M | ||
| Q1 25 | $-47.8M | $-46.9M | ||
| Q4 24 | $-134.6M | $6.2M | ||
| Q3 24 | $-29.4M | $37.2M | ||
| Q2 24 | $-30.2M | $52.4M | ||
| Q1 24 | $-29.1M | $-34.5M |
| Q4 25 | $28.5M | $14.1M | ||
| Q3 25 | $-46.6M | $45.2M | ||
| Q2 25 | $-43.4M | $29.1M | ||
| Q1 25 | $-48.4M | $-50.3M | ||
| Q4 24 | $-138.4M | $-98.0K | ||
| Q3 24 | $-31.2M | $33.2M | ||
| Q2 24 | $-30.6M | $47.9M | ||
| Q1 24 | $-29.8M | $-39.9M |
| Q4 25 | 33.5% | 14.1% | ||
| Q3 25 | -51765.6% | 27.9% | ||
| Q2 25 | -289620.0% | 16.8% | ||
| Q1 25 | -345635.7% | -45.2% | ||
| Q4 24 | -13837100.0% | -0.1% | ||
| Q3 24 | -1038966.7% | 22.1% | ||
| Q2 24 | -611840.0% | 29.9% | ||
| Q1 24 | -106421.4% | -36.0% |
| Q4 25 | 0.1% | 9.2% | ||
| Q3 25 | 101.1% | 3.6% | ||
| Q2 25 | 440.0% | 4.0% | ||
| Q1 25 | 4507.1% | 3.1% | ||
| Q4 24 | 378600.0% | 7.2% | ||
| Q3 24 | 59266.7% | 2.7% | ||
| Q2 24 | 6980.0% | 2.8% | ||
| Q1 24 | 2535.7% | 4.8% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
