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Side-by-side financial comparison of FONAR CORP (FONR) and MASIMO CORP (MASI). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $25.5M, roughly 14.5× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -27.0%, a 35.1% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs -26.4%). MASIMO CORP produced more free cash flow last quarter ($50.9M vs $-227.0K). Over the past eight quarters, FONAR CORP's revenue compounded faster (-0.3% CAGR vs -17.7%).
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.
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
FONR vs MASI — Head-to-Head
Income Statement — Q2 2026 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $371.5M |
| Net Profit | $2.1M | $-100.4M |
| Gross Margin | — | 62.1% |
| Operating Margin | 13.5% | 22.5% |
| Net Margin | 8.0% | -27.0% |
| Revenue YoY | 2.4% | -26.4% |
| Net Profit YoY | 4.7% | -1124.5% |
| EPS (diluted) | — | $-1.84 |
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 | $371.5M | ||
| Q2 25 | $27.3M | $370.9M | ||
| Q1 25 | $27.2M | $372.0M | ||
| Q4 24 | $24.9M | $600.7M | ||
| Q3 24 | $25.0M | $504.6M | ||
| Q2 24 | $25.9M | $496.3M | ||
| Q1 24 | $25.7M | $492.8M |
| Q4 25 | $2.1M | — | ||
| Q3 25 | $2.3M | $-100.4M | ||
| Q2 25 | $729.3K | $51.3M | ||
| Q1 25 | $2.5M | $-170.7M | ||
| Q4 24 | $2.0M | $-349.6M | ||
| Q3 24 | $3.1M | $9.8M | ||
| Q2 24 | $830.4K | $16.0M | ||
| Q1 24 | $1.9M | $18.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 62.1% | ||
| Q2 25 | — | 62.9% | ||
| Q1 25 | — | 62.9% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 51.3% | ||
| Q1 24 | — | 49.0% |
| Q4 25 | 13.5% | — | ||
| Q3 25 | 14.1% | 22.5% | ||
| Q2 25 | 5.3% | 17.4% | ||
| Q1 25 | 15.2% | 21.0% | ||
| Q4 24 | 11.9% | -59.8% | ||
| Q3 24 | 21.0% | 6.0% | ||
| Q2 24 | 7.4% | 5.7% | ||
| Q1 24 | 16.8% | 6.9% |
| Q4 25 | 8.0% | — | ||
| Q3 25 | 8.7% | -27.0% | ||
| Q2 25 | 2.7% | 13.8% | ||
| Q1 25 | 9.2% | -45.9% | ||
| Q4 24 | 7.9% | -58.2% | ||
| Q3 24 | 12.6% | 1.9% | ||
| Q2 24 | 3.2% | 3.2% | ||
| Q1 24 | 7.3% | 3.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | $-1.84 | ||
| Q2 25 | — | $0.94 | ||
| Q1 25 | — | $-3.12 | ||
| Q4 24 | — | $-6.54 | ||
| Q3 24 | — | $0.18 | ||
| Q2 24 | — | $0.29 | ||
| Q1 24 | — | $0.35 |
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 | $312.3M |
| Total DebtLower is stronger | — | $559.1M |
| Stockholders' EquityBook value | $176.9M | $810.0M |
| Total Assets | $217.2M | $1.8B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | — | ||
| Q3 25 | $122.0K | $312.3M | ||
| Q2 25 | $56.5M | $149.6M | ||
| Q1 25 | $123.0K | $130.8M | ||
| Q4 24 | $121.0K | $177.6M | ||
| Q3 24 | $136.0K | $158.5M | ||
| Q2 24 | $56.5M | $129.6M | ||
| Q1 24 | $134.0K | $157.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | $559.1M | ||
| Q2 25 | — | $613.7M | ||
| Q1 25 | — | $651.0M | ||
| Q4 24 | — | $765.2M | ||
| Q3 24 | — | $772.6M | ||
| Q2 24 | $66.9K | $781.6M | ||
| Q1 24 | — | $876.0M |
| Q4 25 | $176.9M | — | ||
| Q3 25 | $174.9M | $810.0M | ||
| Q2 25 | $172.6M | $1.0B | ||
| Q1 25 | $171.9M | $946.4M | ||
| Q4 24 | $169.8M | $1.1B | ||
| Q3 24 | $168.7M | $1.5B | ||
| Q2 24 | $166.0M | $1.4B | ||
| Q1 24 | $165.8M | $1.4B |
| Q4 25 | $217.2M | — | ||
| Q3 25 | $218.4M | $1.8B | ||
| Q2 25 | $216.9M | $2.4B | ||
| Q1 25 | $214.9M | $2.3B | ||
| Q4 24 | $208.0M | $2.6B | ||
| Q3 24 | $212.3M | $3.1B | ||
| Q2 24 | $214.2M | $2.9B | ||
| Q1 24 | $209.6M | $3.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | 0.00× | 0.57× | ||
| Q1 24 | — | 0.64× |
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 | $56.8M |
| Free Cash FlowOCF − Capex | $-227.0K | $50.9M |
| FCF MarginFCF / Revenue | -0.9% | 13.7% |
| Capex IntensityCapex / Revenue | 1.6% | 1.6% |
| Cash ConversionOCF / Net Profit | 0.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.7M | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $171.0K | — | ||
| Q3 25 | $1.7M | $56.8M | ||
| Q2 25 | $4.2M | $69.4M | ||
| Q1 25 | $3.1M | $31.1M | ||
| Q4 24 | $2.2M | $50.5M | ||
| Q3 24 | $1.7M | $25.6M | ||
| Q2 24 | $4.6M | $74.5M | ||
| Q1 24 | $2.8M | $45.8M |
| Q4 25 | $-227.0K | — | ||
| Q3 25 | $-177.0K | $50.9M | ||
| Q2 25 | $3.6M | $65.6M | ||
| Q1 25 | $2.6M | $28.5M | ||
| Q4 24 | $1.5M | $46.0M | ||
| Q3 24 | $-148.0K | $16.9M | ||
| Q2 24 | $4.2M | $66.9M | ||
| Q1 24 | $2.6M | $37.6M |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -0.7% | 13.7% | ||
| Q2 25 | 13.1% | 17.7% | ||
| Q1 25 | 9.4% | 7.7% | ||
| Q4 24 | 6.0% | 7.7% | ||
| Q3 24 | -0.6% | 3.3% | ||
| Q2 24 | 16.1% | 13.5% | ||
| Q1 24 | 10.2% | 7.6% |
| Q4 25 | 1.6% | — | ||
| Q3 25 | 7.2% | 1.6% | ||
| Q2 25 | 2.4% | 1.0% | ||
| Q1 25 | 2.2% | 0.7% | ||
| Q4 24 | 3.0% | 0.7% | ||
| Q3 24 | 7.2% | 1.7% | ||
| Q2 24 | 1.6% | 1.5% | ||
| Q1 24 | 0.7% | 1.7% |
| Q4 25 | 0.08× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 5.79× | 1.35× | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 0.53× | 2.61× | ||
| Q2 24 | 5.54× | 4.66× | ||
| Q1 24 | 1.50× | 2.42× |
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% |
MASI
Segment breakdown not available.
