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Side-by-side financial comparison of FIRST INTERSTATE BANCSYSTEM INC (FIBK) and H2O AMERICA (HTO). Click either name above to swap in a different company.
FIRST INTERSTATE BANCSYSTEM INC is the larger business by last-quarter revenue ($313.0M vs $199.4M, roughly 1.6× H2O AMERICA). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs 8.1%, a 26.6% gap on every dollar of revenue. On growth, FIRST INTERSTATE BANCSYSTEM INC posted the faster year-over-year revenue change (19.8% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 13.7%).
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
FIBK vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $313.0M | $199.4M |
| Net Profit | $108.8M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 44.5% | 16.6% |
| Net Margin | 34.8% | 8.1% |
| Revenue YoY | 19.8% | 1.5% |
| Net Profit YoY | 108.8% | -29.2% |
| EPS (diluted) | $1.07 | $0.45 |
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 | $313.0M | $199.4M | ||
| Q3 25 | $250.5M | $243.5M | ||
| Q2 25 | $248.3M | $197.8M | ||
| Q1 25 | $247.0M | $164.9M | ||
| Q4 24 | $261.3M | $196.5M | ||
| Q3 24 | $251.9M | $216.7M | ||
| Q2 24 | $244.3M | $173.1M | ||
| Q1 24 | $242.2M | $150.0M |
| Q4 25 | $108.8M | $16.2M | ||
| Q3 25 | $71.4M | $45.1M | ||
| Q2 25 | $71.7M | $24.7M | ||
| Q1 25 | $50.2M | $16.6M | ||
| Q4 24 | $52.1M | $22.9M | ||
| Q3 24 | $55.5M | $38.7M | ||
| Q2 24 | $60.0M | $20.7M | ||
| Q1 24 | $58.4M | $11.7M |
| Q4 25 | 44.5% | 16.6% | ||
| Q3 25 | 37.0% | 26.5% | ||
| Q2 25 | 37.7% | 22.2% | ||
| Q1 25 | 26.9% | 21.8% | ||
| Q4 24 | 25.5% | 22.2% | ||
| Q3 24 | 28.9% | 26.9% | ||
| Q2 24 | 32.1% | 23.4% | ||
| Q1 24 | 31.7% | 18.6% |
| Q4 25 | 34.8% | 8.1% | ||
| Q3 25 | 28.5% | 18.5% | ||
| Q2 25 | 28.9% | 12.5% | ||
| Q1 25 | 20.3% | 10.0% | ||
| Q4 24 | 19.9% | 11.7% | ||
| Q3 24 | 22.0% | 17.8% | ||
| Q2 24 | 24.6% | 12.0% | ||
| Q1 24 | 24.1% | 7.8% |
| Q4 25 | $1.07 | $0.45 | ||
| Q3 25 | $0.69 | $1.27 | ||
| Q2 25 | $0.69 | $0.71 | ||
| Q1 25 | $0.49 | $0.49 | ||
| Q4 24 | $0.50 | $0.70 | ||
| Q3 24 | $0.54 | $1.17 | ||
| Q2 24 | $0.58 | $0.64 | ||
| Q1 24 | $0.57 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.7M |
| Total DebtLower is stronger | $146.3M | $1.9B |
| Stockholders' EquityBook value | $3.4B | $1.5B |
| Total Assets | $26.6B | $5.1B |
| Debt / EquityLower = less leverage | 0.04× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $11.3M | ||
| Q2 25 | — | $19.8M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $11.1M | ||
| Q3 24 | — | $4.0M | ||
| Q2 24 | — | $22.8M | ||
| Q1 24 | — | $4.5M |
| Q4 25 | $146.3M | $1.9B | ||
| Q3 25 | $146.2M | — | ||
| Q2 25 | $252.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $132.2M | $1.7B | ||
| Q3 24 | $137.3M | — | ||
| Q2 24 | $383.4M | — | ||
| Q1 24 | $370.8M | — |
| Q4 25 | $3.4B | $1.5B | ||
| Q3 25 | $3.4B | $1.5B | ||
| Q2 25 | $3.4B | $1.5B | ||
| Q1 25 | $3.4B | $1.4B | ||
| Q4 24 | $3.3B | $1.4B | ||
| Q3 24 | $3.4B | $1.3B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $3.2B | $1.2B |
| Q4 25 | $26.6B | $5.1B | ||
| Q3 25 | $27.3B | $5.0B | ||
| Q2 25 | $27.6B | $4.8B | ||
| Q1 25 | $28.3B | $4.7B | ||
| Q4 24 | $29.1B | $4.7B | ||
| Q3 24 | $29.6B | $4.6B | ||
| Q2 24 | $30.3B | $4.4B | ||
| Q1 24 | $30.1B | $4.4B |
| Q4 25 | 0.04× | 1.23× | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.04× | 1.26× | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.12× | — | ||
| Q1 24 | 0.12× | — |
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 | $305.6M | $63.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.81× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $305.6M | $63.5M | ||
| Q3 25 | $91.7M | $77.3M | ||
| Q2 25 | $68.1M | $60.8M | ||
| Q1 25 | $78.5M | $43.2M | ||
| Q4 24 | $355.0M | $41.5M | ||
| Q3 24 | $89.9M | $53.5M | ||
| Q2 24 | $82.3M | $49.3M | ||
| Q1 24 | $87.6M | $51.2M |
| Q4 25 | 2.81× | 3.92× | ||
| Q3 25 | 1.28× | 1.71× | ||
| Q2 25 | 0.95× | 2.47× | ||
| Q1 25 | 1.56× | 2.61× | ||
| Q4 24 | 6.81× | 1.81× | ||
| Q3 24 | 1.62× | 1.39× | ||
| Q2 24 | 1.37× | 2.38× | ||
| Q1 24 | 1.50× | 4.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FIBK
Segment breakdown not available.
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
