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Side-by-side financial comparison of Global Indemnity Group, LLC (GBLI) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($117.3M vs $116.7M, roughly 1.0× Global Indemnity Group, LLC). Global Indemnity Group, LLC runs the higher net margin — 5.5% vs -7.3%, a 12.8% gap on every dollar of revenue. On growth, Global Indemnity Group, LLC posted the faster year-over-year revenue change (7.6% vs 5.3%). Over the past eight quarters, Global Indemnity Group, LLC's revenue compounded faster (2.0% CAGR vs -14.4%).
Global Indemnity Group LLC is a specialty insurance holding company that provides tailored commercial and personal property and casualty insurance products, as well as surety and reinsurance solutions. It primarily serves small to mid-sized enterprises and niche personal line segments across the United States, focusing on underserved specialty risk categories through its licensed subsidiary insurance carriers.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
GBLI vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $116.7M | $117.3M |
| Net Profit | $6.5M | $-8.5M |
| Gross Margin | — | 31.7% |
| Operating Margin | 7.9% | — |
| Net Margin | 5.5% | -7.3% |
| Revenue YoY | 7.6% | 5.3% |
| Net Profit YoY | -28.5% | -43.1% |
| EPS (diluted) | $0.48 | $-0.07 |
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 | — | $117.3M | ||
| Q4 25 | $116.7M | $100.0M | ||
| Q3 25 | $114.2M | $161.9M | ||
| Q2 25 | $110.5M | $172.6M | ||
| Q1 25 | $108.7M | $111.4M | ||
| Q4 24 | $108.4M | $87.3M | ||
| Q3 24 | $111.8M | $150.5M | ||
| Q2 24 | $108.7M | $160.1M |
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $6.5M | $-7.0M | ||
| Q3 25 | $12.5M | $8.1M | ||
| Q2 25 | $10.3M | $16.0M | ||
| Q1 25 | $-4.0M | $-6.0M | ||
| Q4 24 | $9.0M | $-29.2M | ||
| Q3 24 | $12.8M | $5.9M | ||
| Q2 24 | $10.1M | $13.3M |
| Q1 26 | — | 31.7% | ||
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% |
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | -10.7% | ||
| Q3 25 | 14.1% | 13.3% | ||
| Q2 25 | 11.9% | 14.3% | ||
| Q1 25 | -4.7% | -4.4% | ||
| Q4 24 | 11.2% | -14.9% | ||
| Q3 24 | 14.2% | 8.9% | ||
| Q2 24 | 11.7% | 12.5% |
| Q1 26 | — | -7.3% | ||
| Q4 25 | 5.5% | -7.0% | ||
| Q3 25 | 11.0% | 5.0% | ||
| Q2 25 | 9.4% | 9.3% | ||
| Q1 25 | -3.7% | -5.4% | ||
| Q4 24 | 8.3% | -33.4% | ||
| Q3 24 | 11.4% | 3.9% | ||
| Q2 24 | 9.3% | 8.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $0.48 | $-0.06 | ||
| Q3 25 | $0.86 | $0.07 | ||
| Q2 25 | $0.71 | $0.13 | ||
| Q1 25 | $-0.30 | $-0.05 | ||
| Q4 24 | $0.65 | $-0.24 | ||
| Q3 24 | $0.92 | $0.05 | ||
| Q2 24 | $0.73 | $0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $65.5M | — |
| Total DebtLower is stronger | — | $3.3M |
| Stockholders' EquityBook value | $706.6M | $396.7M |
| Total Assets | $1.7B | $856.4M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $65.5M | — | ||
| Q3 25 | $75.4M | — | ||
| Q2 25 | $67.3M | — | ||
| Q1 25 | $81.1M | — | ||
| Q4 24 | $17.0M | — | ||
| Q3 24 | $31.0M | — | ||
| Q2 24 | $46.7M | — |
| Q1 26 | — | $3.3M | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
| Q1 26 | — | $396.7M | ||
| Q4 25 | $706.6M | $405.9M | ||
| Q3 25 | $704.1M | $408.4M | ||
| Q2 25 | $695.3M | $398.4M | ||
| Q1 25 | $687.1M | $381.1M | ||
| Q4 24 | $689.1M | $387.2M | ||
| Q3 24 | $686.7M | $416.6M | ||
| Q2 24 | $667.5M | $408.1M |
| Q1 26 | — | $856.4M | ||
| Q4 25 | $1.7B | $823.2M | ||
| Q3 25 | $1.7B | $844.4M | ||
| Q2 25 | $1.7B | $822.1M | ||
| Q1 25 | $1.7B | $824.6M | ||
| Q4 24 | $1.7B | $794.2M | ||
| Q3 24 | $1.8B | $853.4M | ||
| Q2 24 | $1.7B | $830.0M |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $9.1M | $-47.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $9.1M | $23.3M | ||
| Q3 25 | $5.7M | $51.0M | ||
| Q2 25 | $7.0M | $36.0M | ||
| Q1 25 | $2.4M | $-46.9M | ||
| Q4 24 | $38.8M | $6.2M | ||
| Q3 24 | $15.3M | $37.2M | ||
| Q2 24 | $14.3M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.40× | — | ||
| Q3 25 | 0.45× | 6.29× | ||
| Q2 25 | 0.68× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.30× | — | ||
| Q3 24 | 1.20× | 6.32× | ||
| Q2 24 | 1.41× | 3.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GBLI
| Belmont Core | $99.2M | 85% |
| Agency And Insurance Services | $13.8M | 12% |
| Other | $3.7M | 3% |
SWIM
Segment breakdown not available.
