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Side-by-side financial comparison of FONAR CORP (FONR) and IT TECH PACKAGING, INC. (ITP). Click either name above to swap in a different company.
IT TECH PACKAGING, INC. is the larger business by last-quarter revenue ($25.6M vs $25.5M, roughly 1.0× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -5.7%, a 13.7% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs 2.1%). IT TECH PACKAGING, INC. produced more free cash flow last quarter ($1.5M vs $-227.0K). Over the past eight quarters, IT TECH PACKAGING, INC.'s revenue compounded faster (10.5% CAGR vs -0.3%).
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
FONR vs ITP — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $25.6M |
| Net Profit | $2.1M | $-1.4M |
| Gross Margin | — | 7.9% |
| Operating Margin | 13.5% | -3.9% |
| Net Margin | 8.0% | -5.7% |
| Revenue YoY | 2.4% | 2.1% |
| Net Profit YoY | 4.7% | 26.6% |
| EPS (diluted) | — | $-0.11 |
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 | $25.5M | — | ||
| Q3 25 | $26.0M | $25.6M | ||
| Q2 25 | $27.3M | $24.8M | ||
| Q1 25 | $27.2M | $10.9M | ||
| Q4 24 | $24.9M | $17.6M | ||
| Q3 24 | $25.0M | $25.1M | ||
| Q2 24 | $25.9M | $26.2M | ||
| Q1 24 | $25.7M | $6.9M |
| Q4 25 | $2.1M | — | ||
| Q3 25 | $2.3M | $-1.4M | ||
| Q2 25 | $729.3K | $-2.0M | ||
| Q1 25 | $2.5M | $-3.5M | ||
| Q4 24 | $2.0M | $-4.0M | ||
| Q3 24 | $3.1M | $-2.0M | ||
| Q2 24 | $830.4K | $-77.7K | ||
| Q1 24 | $1.9M | $-3.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 12.4% | ||
| Q1 24 | — | 5.8% |
| Q4 25 | 13.5% | — | ||
| Q3 25 | 14.1% | -3.9% | ||
| Q2 25 | 5.3% | -7.1% | ||
| Q1 25 | 15.2% | -31.0% | ||
| Q4 24 | 11.9% | -21.5% | ||
| Q3 24 | 21.0% | -5.8% | ||
| Q2 24 | 7.4% | 2.1% | ||
| Q1 24 | 16.8% | -51.0% |
| Q4 25 | 8.0% | — | ||
| Q3 25 | 8.7% | -5.7% | ||
| Q2 25 | 2.7% | -7.9% | ||
| Q1 25 | 9.2% | -32.2% | ||
| Q4 24 | 7.9% | -22.9% | ||
| Q3 24 | 12.6% | -7.9% | ||
| Q2 24 | 3.2% | -0.3% | ||
| Q1 24 | 7.3% | -54.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.11 | ||
| Q2 25 | — | $-0.16 | ||
| Q1 25 | — | $-0.35 | ||
| Q4 24 | — | $-0.40 | ||
| Q3 24 | — | $-0.20 | ||
| Q2 24 | — | $-0.01 | ||
| Q1 24 | — | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $121.0K | — |
| Total DebtLower is stronger | — | $4.7M |
| Stockholders' EquityBook value | $176.9M | $152.0M |
| Total Assets | $217.2M | $175.7M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | — | ||
| Q3 25 | $122.0K | — | ||
| Q2 25 | $56.5M | — | ||
| Q1 25 | $123.0K | — | ||
| Q4 24 | $121.0K | — | ||
| Q3 24 | $136.0K | — | ||
| Q2 24 | $56.5M | — | ||
| Q1 24 | $134.0K | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $4.7M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $4.7M | ||
| Q4 24 | — | $4.7M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | $66.9K | $11.3M | ||
| Q1 24 | — | $11.4M |
| Q4 25 | $176.9M | — | ||
| Q3 25 | $174.9M | $152.0M | ||
| Q2 25 | $172.6M | $152.3M | ||
| Q1 25 | $171.9M | $152.8M | ||
| Q4 24 | $169.8M | $156.1M | ||
| Q3 24 | $168.7M | $164.3M | ||
| Q2 24 | $166.0M | $163.5M | ||
| Q1 24 | $165.8M | $164.3M |
| Q4 25 | $217.2M | — | ||
| Q3 25 | $218.4M | $175.7M | ||
| Q2 25 | $216.9M | $175.2M | ||
| Q1 25 | $214.9M | $175.2M | ||
| Q4 24 | $208.0M | $177.5M | ||
| Q3 24 | $212.3M | $190.0M | ||
| Q2 24 | $214.2M | $191.4M | ||
| Q1 24 | $209.6M | $177.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | 0.00× | 0.07× | ||
| Q1 24 | — | 0.07× |
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 | $171.0K | $1.5M |
| Free Cash FlowOCF − Capex | $-227.0K | $1.5M |
| FCF MarginFCF / Revenue | -0.9% | 5.9% |
| Capex IntensityCapex / Revenue | 1.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.7M | $3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $171.0K | — | ||
| Q3 25 | $1.7M | $1.5M | ||
| Q2 25 | $4.2M | $1.4M | ||
| Q1 25 | $3.1M | $-2.5M | ||
| Q4 24 | $2.2M | $3.5M | ||
| Q3 24 | $1.7M | $1.5M | ||
| Q2 24 | $4.6M | $721.9K | ||
| Q1 24 | $2.8M | $624.4K |
| Q4 25 | $-227.0K | — | ||
| Q3 25 | $-177.0K | $1.5M | ||
| Q2 25 | $3.6M | $1.3M | ||
| Q1 25 | $2.6M | $-2.5M | ||
| Q4 24 | $1.5M | $3.5M | ||
| Q3 24 | $-148.0K | $1.2M | ||
| Q2 24 | $4.2M | $668.3K | ||
| Q1 24 | $2.6M | $615.4K |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -0.7% | 5.9% | ||
| Q2 25 | 13.1% | 5.4% | ||
| Q1 25 | 9.4% | -22.8% | ||
| Q4 24 | 6.0% | 19.6% | ||
| Q3 24 | -0.6% | 4.9% | ||
| Q2 24 | 16.1% | 2.5% | ||
| Q1 24 | 10.2% | 9.0% |
| Q4 25 | 1.6% | — | ||
| Q3 25 | 7.2% | 0.0% | ||
| Q2 25 | 2.4% | 0.1% | ||
| Q1 25 | 2.2% | 0.1% | ||
| Q4 24 | 3.0% | 0.1% | ||
| Q3 24 | 7.2% | 1.0% | ||
| Q2 24 | 1.6% | 0.2% | ||
| Q1 24 | 0.7% | 0.1% |
| Q4 25 | 0.08× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 5.79× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 5.54× | — | ||
| Q1 24 | 1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
ITP
Segment breakdown not available.
