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Side-by-side financial comparison of FIRST MID BANCSHARES, INC. (FMBH) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
FIRST MID BANCSHARES, INC. is the larger business by last-quarter revenue ($88.2M vs $57.6M, roughly 1.5× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 3.4%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-167.0M).
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
FMBH vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.2M | $57.6M |
| Net Profit | $23.7M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | 34.0% | — |
| Net Margin | 26.8% | — |
| Revenue YoY | 3.4% | 94.1% |
| Net Profit YoY | 23.5% | 71.6% |
| EPS (diluted) | $0.98 | — |
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 | $88.2M | $57.6M | ||
| Q3 25 | $89.3M | $49.5M | ||
| Q2 25 | $87.5M | $39.5M | ||
| Q1 25 | $84.3M | $28.5M | ||
| Q4 24 | $85.3M | $29.7M | ||
| Q3 24 | $80.6M | $16.4M | ||
| Q2 24 | $79.2M | $7.3M | ||
| Q1 24 | $79.9M | — |
| Q4 25 | $23.7M | — | ||
| Q3 25 | $22.5M | $-30.0M | ||
| Q2 25 | $23.4M | $-75.8M | ||
| Q1 25 | $22.2M | $-94.3M | ||
| Q4 24 | $19.2M | — | ||
| Q3 24 | $19.5M | $-85.6M | ||
| Q2 24 | $19.7M | $-91.4M | ||
| Q1 24 | $20.5M | — |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% | ||
| Q1 24 | — | — |
| Q4 25 | 34.0% | — | ||
| Q3 25 | 32.2% | -30.8% | ||
| Q2 25 | 34.4% | -151.7% | ||
| Q1 25 | 33.4% | -276.5% | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 31.5% | -433.0% | ||
| Q2 24 | 33.7% | -1055.4% | ||
| Q1 24 | 33.7% | — |
| Q4 25 | 26.8% | — | ||
| Q3 25 | 25.2% | -60.5% | ||
| Q2 25 | 26.8% | -191.9% | ||
| Q1 25 | 26.3% | -330.7% | ||
| Q4 24 | 22.5% | — | ||
| Q3 24 | 24.2% | -523.3% | ||
| Q2 24 | 24.9% | -1248.6% | ||
| Q1 24 | 25.6% | — |
| Q4 25 | $0.98 | — | ||
| Q3 25 | $0.94 | $-0.41 | ||
| Q2 25 | $0.98 | $-1.05 | ||
| Q1 25 | $0.93 | $-1.31 | ||
| Q4 24 | $0.81 | — | ||
| Q3 24 | $0.81 | $-1.32 | ||
| Q2 24 | $0.82 | $-1.56 | ||
| Q1 24 | $0.86 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $130.0M |
| Total DebtLower is stronger | $354.5M | $209.1M |
| Stockholders' EquityBook value | $958.7M | $-438.2M |
| Total Assets | $8.0B | $259.1M |
| Debt / EquityLower = less leverage | 0.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $130.0M | ||
| Q3 25 | — | $135.2M | ||
| Q2 25 | — | $149.6M | ||
| Q1 25 | — | $212.3M | ||
| Q4 24 | — | $297.3M | ||
| Q3 24 | — | $334.7M | ||
| Q2 24 | — | $276.2M | ||
| Q1 24 | — | — |
| Q4 25 | $354.5M | $209.1M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $205.1M | ||
| Q1 25 | — | $203.2M | ||
| Q4 24 | — | $201.4M | ||
| Q3 24 | — | $175.7M | ||
| Q2 24 | — | $174.4M | ||
| Q1 24 | — | — |
| Q4 25 | $958.7M | $-438.2M | ||
| Q3 25 | $932.2M | $-422.5M | ||
| Q2 25 | $894.1M | $-405.8M | ||
| Q1 25 | $870.9M | $-338.4M | ||
| Q4 24 | $846.4M | $-253.6M | ||
| Q3 24 | $858.5M | $-187.1M | ||
| Q2 24 | $813.6M | $-233.8M | ||
| Q1 24 | $798.0M | — |
| Q4 25 | $8.0B | $259.1M | ||
| Q3 25 | $7.8B | $240.3M | ||
| Q2 25 | $7.7B | $250.2M | ||
| Q1 25 | $7.6B | $294.2M | ||
| Q4 24 | $7.5B | $378.3M | ||
| Q3 24 | $7.6B | $387.0M | ||
| Q2 24 | $7.6B | $319.4M | ||
| Q1 24 | $7.7B | — |
| Q4 25 | 0.37× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $130.9M | $-166.8M |
| Free Cash FlowOCF − Capex | $124.0M | $-167.0M |
| FCF MarginFCF / Revenue | 140.6% | -290.0% |
| Capex IntensityCapex / Revenue | 7.8% | 0.4% |
| Cash ConversionOCF / Net Profit | 5.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | $207.9M | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.9M | $-166.8M | ||
| Q3 25 | $33.0M | $-14.1M | ||
| Q2 25 | $7.7M | $-62.7M | ||
| Q1 25 | $47.9M | $-84.9M | ||
| Q4 24 | $124.4M | $-266.8M | ||
| Q3 24 | $33.1M | $-63.6M | ||
| Q2 24 | $24.0M | $-70.7M | ||
| Q1 24 | $29.0M | — |
| Q4 25 | $124.0M | $-167.0M | ||
| Q3 25 | $31.9M | $-14.1M | ||
| Q2 25 | $6.0M | $-62.8M | ||
| Q1 25 | $46.0M | $-84.9M | ||
| Q4 24 | $119.5M | $-266.9M | ||
| Q3 24 | $32.0M | $-63.6M | ||
| Q2 24 | $22.9M | $-70.8M | ||
| Q1 24 | $27.6M | — |
| Q4 25 | 140.6% | -290.0% | ||
| Q3 25 | 35.8% | -28.6% | ||
| Q2 25 | 6.8% | -159.0% | ||
| Q1 25 | 54.5% | -297.9% | ||
| Q4 24 | 140.0% | -899.8% | ||
| Q3 24 | 39.7% | -389.0% | ||
| Q2 24 | 28.9% | -966.2% | ||
| Q1 24 | 34.5% | — |
| Q4 25 | 7.8% | 0.4% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 2.0% | 0.2% | ||
| Q1 25 | 2.3% | 0.1% | ||
| Q4 24 | 5.8% | 0.5% | ||
| Q3 24 | 1.4% | 0.3% | ||
| Q2 24 | 1.4% | 0.6% | ||
| Q1 24 | 1.9% | — |
| Q4 25 | 5.53× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 6.49× | — | ||
| Q3 24 | 1.70× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
