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Side-by-side financial comparison of FONAR CORP (FONR) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
WEST BANCORPORATION INC is the larger business by last-quarter revenue ($26.9M vs $25.5M, roughly 1.1× FONAR CORP). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs 8.0%, a 31.2% gap on every dollar of revenue. On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs 2.4%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $-227.0K). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% 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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
FONR vs WTBA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $26.9M |
| Net Profit | $2.1M | $10.6M |
| Gross Margin | — | — |
| Operating Margin | 13.5% | 50.0% |
| Net Margin | 8.0% | 39.2% |
| Revenue YoY | 2.4% | 16.6% |
| Net Profit YoY | 4.7% | 34.8% |
| EPS (diluted) | — | $0.61 |
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.
| Q1 26 | — | $26.9M | ||
| Q4 25 | $25.5M | $24.2M | ||
| Q3 25 | $26.0M | $25.0M | ||
| Q2 25 | $27.3M | $23.8M | ||
| Q1 25 | $27.2M | $23.1M | ||
| Q4 24 | $24.9M | $20.9M | ||
| Q3 24 | $25.0M | $20.3M | ||
| Q2 24 | $25.9M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $2.1M | $7.4M | ||
| Q3 25 | $2.3M | $9.3M | ||
| Q2 25 | $729.3K | $8.0M | ||
| Q1 25 | $2.5M | $7.8M | ||
| Q4 24 | $2.0M | $7.1M | ||
| Q3 24 | $3.1M | $6.0M | ||
| Q2 24 | $830.4K | $5.2M |
| Q1 26 | — | 50.0% | ||
| Q4 25 | 13.5% | 39.6% | ||
| Q3 25 | 14.1% | 45.8% | ||
| Q2 25 | 5.3% | 43.4% | ||
| Q1 25 | 15.2% | 43.4% | ||
| Q4 24 | 11.9% | 30.9% | ||
| Q3 24 | 21.0% | 36.6% | ||
| Q2 24 | 7.4% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | 8.0% | 30.7% | ||
| Q3 25 | 8.7% | 37.3% | ||
| Q2 25 | 2.7% | 33.5% | ||
| Q1 25 | 9.2% | 34.0% | ||
| Q4 24 | 7.9% | 34.0% | ||
| Q3 24 | 12.6% | 29.3% | ||
| Q2 24 | 3.2% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $0.47 | ||
| Q1 25 | — | $0.46 | ||
| Q4 24 | — | $0.41 | ||
| Q3 24 | — | $0.35 | ||
| Q2 24 | — | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $176.9M | $270.7M |
| Total Assets | $217.2M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $121.0K | $471.1M | ||
| Q3 25 | $122.0K | $232.9M | ||
| Q2 25 | $56.5M | $345.2M | ||
| Q1 25 | $123.0K | — | ||
| Q4 24 | $121.0K | $243.5M | ||
| Q3 24 | $136.0K | — | ||
| Q2 24 | $56.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $66.9K | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $176.9M | $266.0M | ||
| Q3 25 | $174.9M | $255.1M | ||
| Q2 25 | $172.6M | $240.9M | ||
| Q1 25 | $171.9M | $237.9M | ||
| Q4 24 | $169.8M | $227.9M | ||
| Q3 24 | $168.7M | $235.4M | ||
| Q2 24 | $166.0M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $217.2M | $4.1B | ||
| Q3 25 | $218.4M | $4.0B | ||
| Q2 25 | $216.9M | $4.1B | ||
| Q1 25 | $214.9M | $4.0B | ||
| Q4 24 | $208.0M | $4.0B | ||
| Q3 24 | $212.3M | $4.0B | ||
| Q2 24 | $214.2M | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — |
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 | $12.9M |
| Free Cash FlowOCF − Capex | $-227.0K | $12.4M |
| FCF MarginFCF / Revenue | -0.9% | 46.0% |
| Capex IntensityCapex / Revenue | 1.6% | 1.8% |
| Cash ConversionOCF / Net Profit | 0.08× | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $5.7M | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $171.0K | $46.5M | ||
| Q3 25 | $1.7M | $11.4M | ||
| Q2 25 | $4.2M | $13.5M | ||
| Q1 25 | $3.1M | $9.7M | ||
| Q4 24 | $2.2M | $39.8M | ||
| Q3 24 | $1.7M | $12.9M | ||
| Q2 24 | $4.6M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $-227.0K | $43.2M | ||
| Q3 25 | $-177.0K | $10.8M | ||
| Q2 25 | $3.6M | $12.8M | ||
| Q1 25 | $2.6M | $8.3M | ||
| Q4 24 | $1.5M | $13.7M | ||
| Q3 24 | $-148.0K | $7.0M | ||
| Q2 24 | $4.2M | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | -0.9% | 178.3% | ||
| Q3 25 | -0.7% | 43.0% | ||
| Q2 25 | 13.1% | 53.6% | ||
| Q1 25 | 9.4% | 35.7% | ||
| Q4 24 | 6.0% | 65.6% | ||
| Q3 24 | -0.6% | 34.2% | ||
| Q2 24 | 16.1% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 1.6% | 13.7% | ||
| Q3 25 | 7.2% | 2.6% | ||
| Q2 25 | 2.4% | 3.2% | ||
| Q1 25 | 2.2% | 6.5% | ||
| Q4 24 | 3.0% | 125.3% | ||
| Q3 24 | 7.2% | 29.4% | ||
| Q2 24 | 1.6% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | 0.08× | 6.26× | ||
| Q3 25 | 0.75× | 1.23× | ||
| Q2 25 | 5.79× | 1.70× | ||
| Q1 25 | 1.26× | 1.24× | ||
| Q4 24 | 1.14× | 5.61× | ||
| Q3 24 | 0.53× | 2.17× | ||
| Q2 24 | 5.54× | 1.93× |
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% |
WTBA
Segment breakdown not available.
