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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and ZK International Group Co., Ltd. (ZKIN). Click either name above to swap in a different company.

ZK International Group Co., Ltd. is the larger business by last-quarter revenue ($108.2M vs $85.1M, roughly 1.3× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -2.6%, a 25.4% gap on every dollar of revenue. 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-7.5M).

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.

ZK International Group Co., Ltd. is a China-based enterprise focused on the research, development, design, manufacturing and sale of high-quality stainless steel piping systems and fluid transport supporting products. Its offerings cater to construction, municipal infrastructure and residential engineering segments, with core markets spanning China and selected overseas regions.

FDMT vs ZKIN — Head-to-Head

Bigger by revenue
ZKIN
ZKIN
1.3× larger
ZKIN
$108.2M
$85.1M
FDMT
Higher net margin
FDMT
FDMT
25.4% more per $
FDMT
22.8%
-2.6%
ZKIN
More free cash flow
FDMT
FDMT
$36.0M more FCF
FDMT
$28.5M
$-7.5M
ZKIN

Income Statement — Q4 FY2025 vs Q4 FY2024

Metric
FDMT
FDMT
ZKIN
ZKIN
Revenue
$85.1M
$108.2M
Net Profit
$19.4M
$-2.8M
Gross Margin
6.1%
Operating Margin
17.3%
-1.6%
Net Margin
22.8%
-2.6%
Revenue YoY
8508900.0%
Net Profit YoY
139.1%
EPS (diluted)
$0.43
$-0.57

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.

Revenue
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$85.1M
Q3 25
$90.0K
Q2 25
$15.0K
Q1 25
$14.0K
Q4 24
$1.0K
Q3 24
$3.0K
$108.2M
Q2 24
$5.0K
Q1 24
$28.0K
Net Profit
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$19.4M
Q3 25
$-56.9M
Q2 25
$-54.7M
Q1 25
$-48.0M
Q4 24
Q3 24
$-43.8M
$-2.8M
Q2 24
$-35.0M
Q1 24
$-32.4M
Gross Margin
FDMT
FDMT
ZKIN
ZKIN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
6.1%
Q2 24
Q1 24
Operating Margin
FDMT
FDMT
ZKIN
ZKIN
Q4 25
17.3%
Q3 25
-67983.3%
Q2 25
-396373.3%
Q1 25
-383007.1%
Q4 24
Q3 24
-1704400.0%
-1.6%
Q2 24
-849120.0%
Q1 24
-136200.0%
Net Margin
FDMT
FDMT
ZKIN
ZKIN
Q4 25
22.8%
Q3 25
-63195.6%
Q2 25
-364386.7%
Q1 25
-342657.1%
Q4 24
Q3 24
-1461433.3%
-2.6%
Q2 24
-699060.0%
Q1 24
-115717.9%
EPS (diluted)
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$0.43
Q3 25
$-1.01
Q2 25
$-0.98
Q1 25
$-0.86
Q4 24
Q3 24
$-0.79
$-0.57
Q2 24
$-0.63
Q1 24
$-0.66

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FDMT
FDMT
ZKIN
ZKIN
Cash + ST InvestmentsLiquidity on hand
$402.7M
$4.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$505.7M
$28.2M
Total Assets
$566.7M
$80.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$402.7M
Q3 25
$305.1M
Q2 25
$293.2M
Q1 25
$321.4M
Q4 24
$424.9M
Q3 24
$501.9M
$4.1M
Q2 24
$541.9M
Q1 24
$525.9M
Stockholders' Equity
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$505.7M
Q3 25
$369.0M
Q2 25
$420.9M
Q1 25
$469.7M
Q4 24
$510.6M
Q3 24
$552.9M
$28.2M
Q2 24
$588.3M
Q1 24
$600.6M
Total Assets
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$566.7M
Q3 25
$424.0M
Q2 25
$473.6M
Q1 25
$515.7M
Q4 24
$560.4M
Q3 24
$604.0M
$80.0M
Q2 24
$620.1M
Q1 24
$629.9M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FDMT
FDMT
ZKIN
ZKIN
Operating Cash FlowLast quarter
$28.6M
$-6.9M
Free Cash FlowOCF − Capex
$28.5M
$-7.5M
FCF MarginFCF / Revenue
33.5%
-6.9%
Capex IntensityCapex / Revenue
0.1%
0.6%
Cash ConversionOCF / Net Profit
1.47×
TTM Free Cash FlowTrailing 4 quarters
$-109.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$28.6M
Q3 25
$-46.5M
Q2 25
$-43.4M
Q1 25
$-47.8M
Q4 24
$-134.6M
Q3 24
$-29.4M
$-6.9M
Q2 24
$-30.2M
Q1 24
$-29.1M
Free Cash Flow
FDMT
FDMT
ZKIN
ZKIN
Q4 25
$28.5M
Q3 25
$-46.6M
Q2 25
$-43.4M
Q1 25
$-48.4M
Q4 24
$-138.4M
Q3 24
$-31.2M
$-7.5M
Q2 24
$-30.6M
Q1 24
$-29.8M
FCF Margin
FDMT
FDMT
ZKIN
ZKIN
Q4 25
33.5%
Q3 25
-51765.6%
Q2 25
-289620.0%
Q1 25
-345635.7%
Q4 24
-13837100.0%
Q3 24
-1038966.7%
-6.9%
Q2 24
-611840.0%
Q1 24
-106421.4%
Capex Intensity
FDMT
FDMT
ZKIN
ZKIN
Q4 25
0.1%
Q3 25
101.1%
Q2 25
440.0%
Q1 25
4507.1%
Q4 24
378600.0%
Q3 24
59266.7%
0.6%
Q2 24
6980.0%
Q1 24
2535.7%
Cash Conversion
FDMT
FDMT
ZKIN
ZKIN
Q4 25
1.47×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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