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Side-by-side financial comparison of Primis Financial Corp. (FRST) and Valneva SE (VALN). Click either name above to swap in a different company.

Primis Financial Corp. is the larger business by last-quarter revenue ($45.6M vs $36.2M, roughly 1.3× Valneva SE). Primis Financial Corp. runs the higher net margin — 16.0% vs -54.1%, a 70.1% gap on every dollar of revenue.

Primis Financial Corp is a U.S.-based financial holding company operating full-service banking subsidiaries. It provides a comprehensive range of financial solutions including personal and commercial deposit products, diverse loan facilities, mortgage services, and wealth management support, primarily serving retail and corporate customers across the U.S. mid-Atlantic region.

Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.

FRST vs VALN — Head-to-Head

Bigger by revenue
FRST
FRST
1.3× larger
FRST
$45.6M
$36.2M
VALN
Higher net margin
FRST
FRST
70.1% more per $
FRST
16.0%
-54.1%
VALN

Income Statement — Q1 FY2026 vs Q1 FY2023

Metric
FRST
FRST
VALN
VALN
Revenue
$45.6M
$36.2M
Net Profit
$7.3M
$-19.6M
Gross Margin
38.9%
Operating Margin
-49.5%
Net Margin
16.0%
-54.1%
Revenue YoY
Net Profit YoY
200.0%
EPS (diluted)
$0.30

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.

Revenue
FRST
FRST
VALN
VALN
Q1 26
$45.6M
Q4 25
$80.9M
Q3 25
$41.0M
Q2 25
$43.2M
Q1 25
$58.7M
Q4 24
$38.8M
Q3 24
$37.3M
Q2 24
$35.7M
Net Profit
FRST
FRST
VALN
VALN
Q1 26
$7.3M
Q4 25
$29.5M
Q3 25
$6.8M
Q2 25
$2.4M
Q1 25
$22.6M
Q4 24
$-26.2M
Q3 24
$1.2M
Q2 24
$3.4M
Operating Margin
FRST
FRST
VALN
VALN
Q1 26
Q4 25
44.8%
Q3 25
21.3%
Q2 25
6.9%
Q1 25
41.9%
Q4 24
-123.0%
Q3 24
-3.1%
Q2 24
7.8%
Net Margin
FRST
FRST
VALN
VALN
Q1 26
16.0%
Q4 25
36.5%
Q3 25
16.7%
Q2 25
5.6%
Q1 25
38.6%
Q4 24
-100.3%
Q3 24
3.3%
Q2 24
9.6%
EPS (diluted)
FRST
FRST
VALN
VALN
Q1 26
$0.30
Q4 25
$1.19
Q3 25
$0.28
Q2 25
$0.10
Q1 25
$0.92
Q4 24
$-0.95
Q3 24
$0.05
Q2 24
$0.14

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FRST
FRST
VALN
VALN
Cash + ST InvestmentsLiquidity on hand
$159.9M
$274.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$427.2M
$221.2M
Total Assets
$4.3B
$637.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FRST
FRST
VALN
VALN
Q1 26
$159.9M
Q4 25
$143.6M
Q3 25
$63.9M
Q2 25
$94.1M
Q1 25
$57.0M
Q4 24
$64.5M
Q3 24
$77.3M
Q2 24
$66.6M
Stockholders' Equity
FRST
FRST
VALN
VALN
Q1 26
$427.2M
Q4 25
$422.9M
Q3 25
$382.2M
Q2 25
$376.4M
Q1 25
$375.6M
Q4 24
$351.8M
Q3 24
$381.0M
Q2 24
$376.0M
Total Assets
FRST
FRST
VALN
VALN
Q1 26
$4.3B
Q4 25
$4.0B
Q3 25
$4.0B
Q2 25
$3.9B
Q1 25
$3.7B
Q4 24
$3.7B
Q3 24
$4.0B
Q2 24
$4.0B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FRST
FRST
VALN
VALN
Operating Cash FlowLast quarter
$-26.3M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FRST
FRST
VALN
VALN
Q1 26
Q4 25
$10.8M
Q3 25
$-11.4M
Q2 25
$-41.0M
Q1 25
$34.4M
Q4 24
$19.5M
Q3 24
$6.1M
Q2 24
$52.3M
Free Cash Flow
FRST
FRST
VALN
VALN
Q1 26
Q4 25
$9.0M
Q3 25
Q2 25
Q1 25
Q4 24
$18.3M
Q3 24
Q2 24
FCF Margin
FRST
FRST
VALN
VALN
Q1 26
Q4 25
11.2%
Q3 25
Q2 25
Q1 25
Q4 24
47.3%
Q3 24
Q2 24
Capex Intensity
FRST
FRST
VALN
VALN
Q1 26
Q4 25
2.1%
Q3 25
Q2 25
Q1 25
Q4 24
3.1%
Q3 24
0.0%
Q2 24
0.0%
Cash Conversion
FRST
FRST
VALN
VALN
Q1 26
Q4 25
0.36×
Q3 25
-1.67×
Q2 25
-16.82×
Q1 25
1.52×
Q4 24
Q3 24
4.93×
Q2 24
15.21×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

FRST
FRST

Net Interest Income$32.1M70%
Noninterest Income$13.6M30%

VALN
VALN

Segment breakdown not available.

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