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Side-by-side financial comparison of Fabrinet (FN) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $625.1M, roughly 1.8× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 9.9%, a 3.4% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 15.7%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 4.6%).
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
FN vs WTS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $625.1M |
| Net Profit | $112.6M | $83.7M |
| Gross Margin | 12.2% | 49.5% |
| Operating Margin | 10.1% | 18.2% |
| Net Margin | 9.9% | 13.4% |
| Revenue YoY | 35.9% | 15.7% |
| Net Profit YoY | 30.0% | 24.0% |
| EPS (diluted) | $3.11 | $2.50 |
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 | $1.1B | $625.1M | ||
| Q3 25 | $978.1M | $611.7M | ||
| Q2 25 | $909.7M | $643.7M | ||
| Q1 25 | $871.8M | $558.0M | ||
| Q4 24 | $833.6M | $540.4M | ||
| Q3 24 | $804.2M | $543.6M | ||
| Q2 24 | $753.3M | $597.3M | ||
| Q1 24 | $731.5M | $570.9M |
| Q4 25 | $112.6M | $83.7M | ||
| Q3 25 | $95.9M | $82.2M | ||
| Q2 25 | $87.2M | $100.9M | ||
| Q1 25 | $81.3M | $74.0M | ||
| Q4 24 | $86.6M | $67.5M | ||
| Q3 24 | $77.4M | $69.1M | ||
| Q2 24 | $81.1M | $82.0M | ||
| Q1 24 | $80.9M | $72.6M |
| Q4 25 | 12.2% | 49.5% | ||
| Q3 25 | 11.9% | 48.8% | ||
| Q2 25 | 12.2% | 50.6% | ||
| Q1 25 | 11.7% | 48.8% | ||
| Q4 24 | 12.1% | 46.7% | ||
| Q3 24 | 12.3% | 47.3% | ||
| Q2 24 | 12.3% | 47.7% | ||
| Q1 24 | 12.4% | 46.9% |
| Q4 25 | 10.1% | 18.2% | ||
| Q3 25 | 9.6% | 18.2% | ||
| Q2 25 | 9.8% | 21.0% | ||
| Q1 25 | 9.0% | 15.7% | ||
| Q4 24 | 9.5% | 16.5% | ||
| Q3 24 | 9.6% | 17.1% | ||
| Q2 24 | 9.7% | 18.7% | ||
| Q1 24 | 9.7% | 16.9% |
| Q4 25 | 9.9% | 13.4% | ||
| Q3 25 | 9.8% | 13.4% | ||
| Q2 25 | 9.6% | 15.7% | ||
| Q1 25 | 9.3% | 13.3% | ||
| Q4 24 | 10.4% | 12.5% | ||
| Q3 24 | 9.6% | 12.7% | ||
| Q2 24 | 10.8% | 13.7% | ||
| Q1 24 | 11.1% | 12.7% |
| Q4 25 | $3.11 | $2.50 | ||
| Q3 25 | $2.66 | $2.45 | ||
| Q2 25 | $2.41 | $3.01 | ||
| Q1 25 | $2.25 | $2.21 | ||
| Q4 24 | $2.38 | $2.02 | ||
| Q3 24 | $2.13 | $2.06 | ||
| Q2 24 | $2.22 | $2.44 | ||
| Q1 24 | $2.21 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $960.8M | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $2.0B |
| Total Assets | $3.3B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.8M | $405.5M | ||
| Q3 25 | $968.8M | $457.7M | ||
| Q2 25 | $934.2M | $369.3M | ||
| Q1 25 | $950.7M | $336.8M | ||
| Q4 24 | $934.6M | $386.9M | ||
| Q3 24 | $908.9M | $303.9M | ||
| Q2 24 | $858.6M | $279.4M | ||
| Q1 24 | $794.0M | $237.1M |
| Q4 25 | $2.2B | $2.0B | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $2.0B | $1.9B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.8B | $1.7B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.7B | $1.6B |
| Q4 25 | $3.3B | $2.9B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.6B | $2.5B | ||
| Q4 24 | $2.5B | $2.4B | ||
| Q3 24 | $2.4B | $2.4B | ||
| Q2 24 | $2.3B | $2.4B | ||
| Q1 24 | $2.2B | $2.3B |
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 | $46.3M | $154.7M |
| Free Cash FlowOCF − Capex | $-5.3M | $140.3M |
| FCF MarginFCF / Revenue | -0.5% | 22.4% |
| Capex IntensityCapex / Revenue | 4.6% | 2.3% |
| Cash ConversionOCF / Net Profit | 0.41× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $102.3M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.3M | $154.7M | ||
| Q3 25 | $102.6M | $122.4M | ||
| Q2 25 | $55.1M | $69.7M | ||
| Q1 25 | $74.2M | $55.2M | ||
| Q4 24 | $115.9M | $139.5M | ||
| Q3 24 | $83.2M | $90.7M | ||
| Q2 24 | $83.1M | $85.3M | ||
| Q1 24 | $100.9M | $45.6M |
| Q4 25 | $-5.3M | $140.3M | ||
| Q3 25 | $57.3M | $110.9M | ||
| Q2 25 | $4.7M | $59.5M | ||
| Q1 25 | $45.7M | $45.6M | ||
| Q4 24 | $94.0M | $127.5M | ||
| Q3 24 | $62.9M | $84.3M | ||
| Q2 24 | $70.4M | $78.5M | ||
| Q1 24 | $87.3M | $35.5M |
| Q4 25 | -0.5% | 22.4% | ||
| Q3 25 | 5.9% | 18.1% | ||
| Q2 25 | 0.5% | 9.2% | ||
| Q1 25 | 5.2% | 8.2% | ||
| Q4 24 | 11.3% | 23.6% | ||
| Q3 24 | 7.8% | 15.5% | ||
| Q2 24 | 9.3% | 13.1% | ||
| Q1 24 | 11.9% | 6.2% |
| Q4 25 | 4.6% | 2.3% | ||
| Q3 25 | 4.6% | 1.9% | ||
| Q2 25 | 5.5% | 1.6% | ||
| Q1 25 | 3.3% | 1.7% | ||
| Q4 24 | 2.6% | 2.2% | ||
| Q3 24 | 2.5% | 1.2% | ||
| Q2 24 | 1.7% | 1.1% | ||
| Q1 24 | 1.9% | 1.8% |
| Q4 25 | 0.41× | 1.85× | ||
| Q3 25 | 1.07× | 1.49× | ||
| Q2 25 | 0.63× | 0.69× | ||
| Q1 25 | 0.91× | 0.75× | ||
| Q4 24 | 1.34× | 2.07× | ||
| Q3 24 | 1.07× | 1.31× | ||
| Q2 24 | 1.02× | 1.04× | ||
| Q1 24 | 1.25× | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
WTS
Segment breakdown not available.
