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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and MODIV INDUSTRIAL, INC. (MDV). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $11.1M, roughly 1.2× MODIV INDUSTRIAL, INC.). MODIV INDUSTRIAL, INC. runs the higher net margin — 11.0% vs -34.7%, a 45.7% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -5.6%). Over the past eight quarters, MODIV INDUSTRIAL, INC.'s revenue compounded faster (-3.8% CAGR vs -26.3%).
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
FENC vs MDV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $11.1M |
| Net Profit | $-4.8M | $1.2M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | 45.8% |
| Net Margin | -34.7% | 11.0% |
| Revenue YoY | 73.8% | -5.6% |
| Net Profit YoY | -141.1% | -22.0% |
| EPS (diluted) | $-0.17 | $0.02 |
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 | $13.8M | $11.1M | ||
| Q3 25 | $12.5M | $11.7M | ||
| Q2 25 | $9.7M | $11.8M | ||
| Q1 25 | $8.8M | $11.8M | ||
| Q4 24 | $7.9M | $11.7M | ||
| Q3 24 | $7.0M | $11.7M | ||
| Q2 24 | $7.3M | $11.4M | ||
| Q1 24 | $25.4M | $12.0M |
| Q4 25 | $-4.8M | $1.2M | ||
| Q3 25 | $-638.0K | $1.0M | ||
| Q2 25 | $-3.2M | $-2.0M | ||
| Q1 25 | $-1.2M | $829.0K | ||
| Q4 24 | $-2.0M | $1.6M | ||
| Q3 24 | $-5.7M | $-587.0K | ||
| Q2 24 | $-5.6M | $1.3M | ||
| Q1 24 | $12.8M | $3.7M |
| Q4 25 | -18.5% | 45.8% | ||
| Q3 25 | -1.5% | 41.4% | ||
| Q2 25 | -28.3% | 9.8% | ||
| Q1 25 | -9.2% | 40.2% | ||
| Q4 24 | -11.8% | 45.4% | ||
| Q3 24 | -74.6% | 42.0% | ||
| Q2 24 | -69.4% | 44.6% | ||
| Q1 24 | 54.2% | 55.6% |
| Q4 25 | -34.7% | 11.0% | ||
| Q3 25 | -5.1% | 9.0% | ||
| Q2 25 | -32.7% | -17.1% | ||
| Q1 25 | -13.3% | 7.0% | ||
| Q4 24 | -25.0% | 13.3% | ||
| Q3 24 | -82.2% | -5.0% | ||
| Q2 24 | -76.5% | 11.6% | ||
| Q1 24 | 50.6% | 31.1% |
| Q4 25 | $-0.17 | $0.02 | ||
| Q3 25 | $-0.02 | $0.00 | ||
| Q2 25 | $-0.11 | $-0.32 | ||
| Q1 25 | $-0.04 | $-0.01 | ||
| Q4 24 | $-0.02 | $0.07 | ||
| Q3 24 | $-0.21 | $-0.18 | ||
| Q2 24 | $-0.20 | $0.03 | ||
| Q1 24 | $0.41 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.8M | $14.4M |
| Total DebtLower is stronger | — | $261.5M |
| Stockholders' EquityBook value | $35.5M | $162.7M |
| Total Assets | $70.6M | $476.5M |
| Debt / EquityLower = less leverage | — | 1.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $14.4M | ||
| Q3 25 | $21.9M | $8.3M | ||
| Q2 25 | $18.7M | $5.8M | ||
| Q1 25 | $22.7M | $6.2M | ||
| Q4 24 | $26.6M | $11.5M | ||
| Q3 24 | $40.3M | $6.8M | ||
| Q2 24 | $43.1M | $18.9M | ||
| Q1 24 | $51.2M | $18.4M |
| Q4 25 | — | $261.5M | ||
| Q3 25 | $19.4M | $279.7M | ||
| Q2 25 | $19.4M | $279.7M | ||
| Q1 25 | $19.4M | $279.7M | ||
| Q4 24 | $19.3M | $279.8M | ||
| Q3 24 | $32.1M | $279.7M | ||
| Q2 24 | $31.8M | $279.7M | ||
| Q1 24 | $31.3M | $279.6M |
| Q4 25 | $35.5M | $162.7M | ||
| Q3 25 | $-4.5M | $164.8M | ||
| Q2 25 | $-7.5M | $165.6M | ||
| Q1 25 | $-5.9M | $171.1M | ||
| Q4 24 | $-5.9M | $190.1M | ||
| Q3 24 | $-5.2M | $186.3M | ||
| Q2 24 | $-1.4M | $187.0M | ||
| Q1 24 | $3.0M | $188.0M |
| Q4 25 | $70.6M | $476.5M | ||
| Q3 25 | $49.3M | $499.6M | ||
| Q2 25 | $44.9M | $498.9M | ||
| Q1 25 | $46.4M | $506.8M | ||
| Q4 24 | $44.9M | $507.8M | ||
| Q3 24 | $58.9M | $507.4M | ||
| Q2 24 | $63.2M | $519.5M | ||
| Q1 24 | $69.2M | $522.5M |
| Q4 25 | — | 1.61× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.47× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | 10.40× | 1.49× |
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 | $-6.0M | $15.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 12.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $15.0M | ||
| Q3 25 | $1.5M | $4.1M | ||
| Q2 25 | $-3.7M | $3.9M | ||
| Q1 25 | $-4.3M | $3.0M | ||
| Q4 24 | $-1.5M | $18.2M | ||
| Q3 24 | $-2.2M | $5.1M | ||
| Q2 24 | $-8.4M | $4.7M | ||
| Q1 24 | $39.0M | $3.0M |
| Q4 25 | — | 12.34× | ||
| Q3 25 | — | 3.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.68× | ||
| Q4 24 | — | 11.72× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.55× | ||
| Q1 24 | 3.04× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
