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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.
TPG Mortgage Investment Trust, Inc. is the larger business by last-quarter revenue ($20.4M vs $13.8M, roughly 1.5× FENNEC PHARMACEUTICALS INC.). TPG Mortgage Investment Trust, Inc. runs the higher net margin — 65.0% vs -34.7%, a 99.7% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs 17.7%). Over the past eight quarters, TPG Mortgage Investment Trust, Inc.'s revenue compounded faster (9.1% 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.
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
FENC vs MITT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $20.4M |
| Net Profit | $-4.8M | $13.3M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | 67.1% |
| Net Margin | -34.7% | 65.0% |
| Revenue YoY | 73.8% | 17.7% |
| Net Profit YoY | -141.1% | -7.0% |
| EPS (diluted) | $-0.17 | $0.27 |
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 | $20.4M | ||
| Q3 25 | $12.5M | $19.5M | ||
| Q2 25 | $9.7M | $17.8M | ||
| Q1 25 | $8.8M | $18.8M | ||
| Q4 24 | $7.9M | $17.4M | ||
| Q3 24 | $7.0M | $14.9M | ||
| Q2 24 | $7.3M | $16.4M | ||
| Q1 24 | $25.4M | $17.2M |
| Q4 25 | $-4.8M | $13.3M | ||
| Q3 25 | $-638.0K | $20.0M | ||
| Q2 25 | $-3.2M | $3.9M | ||
| Q1 25 | $-1.2M | $11.5M | ||
| Q4 24 | $-2.0M | $14.3M | ||
| Q3 24 | $-5.7M | $16.6M | ||
| Q2 24 | $-5.6M | $3.9M | ||
| Q1 24 | $12.8M | $20.9M |
| Q4 25 | -18.5% | 67.1% | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -28.3% | 20.9% | ||
| Q1 25 | -9.2% | 54.6% | ||
| Q4 24 | -11.8% | 76.7% | ||
| Q3 24 | -74.6% | — | ||
| Q2 24 | -69.4% | 18.4% | ||
| Q1 24 | 54.2% | — |
| Q4 25 | -34.7% | 65.0% | ||
| Q3 25 | -5.1% | 102.5% | ||
| Q2 25 | -32.7% | 22.2% | ||
| Q1 25 | -13.3% | 60.9% | ||
| Q4 24 | -25.0% | 82.2% | ||
| Q3 24 | -82.2% | 111.3% | ||
| Q2 24 | -76.5% | 24.0% | ||
| Q1 24 | 50.6% | 121.6% |
| Q4 25 | $-0.17 | $0.27 | ||
| Q3 25 | $-0.02 | $0.47 | ||
| Q2 25 | $-0.11 | $-0.05 | ||
| Q1 25 | $-0.04 | $0.21 | ||
| Q4 24 | $-0.02 | $0.30 | ||
| Q3 24 | $-0.21 | $0.40 | ||
| Q2 24 | $-0.20 | $-0.02 | ||
| Q1 24 | $0.41 | $0.55 |
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 | $57.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $560.7M |
| Total Assets | $70.6M | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $57.8M | ||
| Q3 25 | $21.9M | $59.0M | ||
| Q2 25 | $18.7M | $88.7M | ||
| Q1 25 | $22.7M | $115.5M | ||
| Q4 24 | $26.6M | $118.7M | ||
| Q3 24 | $40.3M | $102.5M | ||
| Q2 24 | $43.1M | $120.9M | ||
| Q1 24 | $51.2M | $100.3M |
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | — | ||
| Q2 25 | $19.4M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | $32.1M | — | ||
| Q2 24 | $31.8M | — | ||
| Q1 24 | $31.3M | — |
| Q4 25 | $35.5M | $560.7M | ||
| Q3 25 | $-4.5M | $559.8M | ||
| Q2 25 | $-7.5M | $536.4M | ||
| Q1 25 | $-5.9M | $543.9M | ||
| Q4 24 | $-5.9M | $543.4M | ||
| Q3 24 | $-5.2M | $540.1M | ||
| Q2 24 | $-1.4M | $533.5M | ||
| Q1 24 | $3.0M | $539.6M |
| Q4 25 | $70.6M | $8.7B | ||
| Q3 25 | $49.3M | $9.0B | ||
| Q2 25 | $44.9M | $7.5B | ||
| Q1 25 | $46.4M | $7.3B | ||
| Q4 24 | $44.9M | $6.9B | ||
| Q3 24 | $58.9M | $7.0B | ||
| Q2 24 | $63.2M | $7.1B | ||
| Q1 24 | $69.2M | $6.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.40× | — |
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 | $59.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 4.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $59.6M | ||
| Q3 25 | $1.5M | $17.4M | ||
| Q2 25 | $-3.7M | $11.5M | ||
| Q1 25 | $-4.3M | $12.0M | ||
| Q4 24 | $-1.5M | $55.8M | ||
| Q3 24 | $-2.2M | $14.5M | ||
| Q2 24 | $-8.4M | $13.7M | ||
| Q1 24 | $39.0M | $12.0M |
| Q4 25 | — | 4.48× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 2.92× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 3.50× | ||
| Q1 24 | 3.04× | 0.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
