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Side-by-side financial comparison of GRAHAM CORP (GHM) 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 ($100.0M vs $56.7M, roughly 1.8× GRAHAM CORP). GRAHAM CORP runs the higher net margin — 5.0% vs -7.0%, a 12.0% gap on every dollar of revenue. On growth, GRAHAM CORP posted the faster year-over-year revenue change (20.5% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $2.4M). Over the past eight quarters, GRAHAM CORP's revenue compounded faster (7.5% CAGR vs -4.9%).
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
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.
GHM vs SWIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.7M | $100.0M |
| Net Profit | $2.8M | $-7.0M |
| Gross Margin | 23.8% | 28.0% |
| Operating Margin | 5.5% | -10.7% |
| Net Margin | 5.0% | -7.0% |
| Revenue YoY | 20.5% | 14.5% |
| Net Profit YoY | 79.2% | 76.0% |
| EPS (diluted) | $0.25 | $-0.06 |
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 | $56.7M | $100.0M | ||
| Q3 25 | $66.0M | $161.9M | ||
| Q2 25 | $55.5M | $172.6M | ||
| Q1 25 | $59.3M | $111.4M | ||
| Q4 24 | $47.0M | $87.3M | ||
| Q3 24 | $53.6M | $150.5M | ||
| Q2 24 | $50.0M | $160.1M | ||
| Q1 24 | $49.1M | $110.6M |
| Q4 25 | $2.8M | $-7.0M | ||
| Q3 25 | $3.1M | $8.1M | ||
| Q2 25 | $4.6M | $16.0M | ||
| Q1 25 | $4.4M | $-6.0M | ||
| Q4 24 | $1.6M | $-29.2M | ||
| Q3 24 | $3.3M | $5.9M | ||
| Q2 24 | $3.0M | $13.3M | ||
| Q1 24 | $1.3M | $-7.9M |
| Q4 25 | 23.8% | 28.0% | ||
| Q3 25 | 21.7% | 35.4% | ||
| Q2 25 | 26.5% | 37.1% | ||
| Q1 25 | 27.0% | 29.5% | ||
| Q4 24 | 24.8% | 24.6% | ||
| Q3 24 | 23.9% | 32.4% | ||
| Q2 24 | 24.8% | 33.1% | ||
| Q1 24 | 25.9% | 27.7% |
| Q4 25 | 5.5% | -10.7% | ||
| Q3 25 | 6.5% | 13.3% | ||
| Q2 25 | 8.9% | 14.3% | ||
| Q1 25 | 9.3% | -4.4% | ||
| Q4 24 | 4.7% | -14.9% | ||
| Q3 24 | 7.9% | 8.9% | ||
| Q2 24 | 6.5% | 12.5% | ||
| Q1 24 | 3.1% | -1.9% |
| Q4 25 | 5.0% | -7.0% | ||
| Q3 25 | 4.7% | 5.0% | ||
| Q2 25 | 8.3% | 9.3% | ||
| Q1 25 | 7.4% | -5.4% | ||
| Q4 24 | 3.4% | -33.4% | ||
| Q3 24 | 6.1% | 3.9% | ||
| Q2 24 | 5.9% | 8.3% | ||
| Q1 24 | 2.7% | -7.1% |
| Q4 25 | $0.25 | $-0.06 | ||
| Q3 25 | $0.28 | $0.07 | ||
| Q2 25 | $0.42 | $0.13 | ||
| Q1 25 | $0.40 | $-0.05 | ||
| Q4 24 | $0.14 | $-0.24 | ||
| Q3 24 | $0.30 | $0.05 | ||
| Q2 24 | $0.27 | $0.11 | ||
| Q1 24 | $0.11 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $22.3M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $131.3M | $405.9M |
| Total Assets | $292.9M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.3M | — | ||
| Q3 25 | $20.6M | — | ||
| Q2 25 | $10.8M | — | ||
| Q1 25 | $21.6M | — | ||
| Q4 24 | $30.0M | — | ||
| Q3 24 | $32.3M | — | ||
| Q2 24 | $21.6M | — | ||
| Q1 24 | $16.9M | — |
| 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 24 | — | $282.8M |
| Q4 25 | $131.3M | $405.9M | ||
| Q3 25 | $127.6M | $408.4M | ||
| Q2 25 | $123.4M | $398.4M | ||
| Q1 25 | $119.6M | $381.1M | ||
| Q4 24 | $114.4M | $387.2M | ||
| Q3 24 | $112.5M | $416.6M | ||
| Q2 24 | $108.2M | $408.1M | ||
| Q1 24 | $105.6M | $391.8M |
| Q4 25 | $292.9M | $823.2M | ||
| Q3 25 | $287.0M | $844.4M | ||
| Q2 25 | $252.3M | $822.1M | ||
| Q1 25 | $264.1M | $824.6M | ||
| Q4 24 | $264.3M | $794.2M | ||
| Q3 24 | $249.5M | $853.4M | ||
| Q2 24 | $244.2M | $830.0M | ||
| Q1 24 | $233.9M | $808.6M |
| 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× | ||
| Q1 24 | — | 0.72× |
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 | $4.8M | $23.3M |
| Free Cash FlowOCF − Capex | $2.4M | $14.1M |
| FCF MarginFCF / Revenue | 4.3% | 14.1% |
| Capex IntensityCapex / Revenue | 4.1% | 9.2% |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-6.1M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.8M | $23.3M | ||
| Q3 25 | $13.6M | $51.0M | ||
| Q2 25 | $-2.3M | $36.0M | ||
| Q1 25 | $-3.6M | $-46.9M | ||
| Q4 24 | $5.2M | $6.2M | ||
| Q3 24 | $13.9M | $37.2M | ||
| Q2 24 | $8.7M | $52.4M | ||
| Q1 24 | $8.6M | $-34.5M |
| Q4 25 | $2.4M | $14.1M | ||
| Q3 25 | $9.4M | $45.2M | ||
| Q2 25 | $-9.3M | $29.1M | ||
| Q1 25 | $-8.7M | $-50.3M | ||
| Q4 24 | $-2.1M | $-98.0K | ||
| Q3 24 | $10.4M | $33.2M | ||
| Q2 24 | $5.7M | $47.9M | ||
| Q1 24 | $4.6M | $-39.9M |
| Q4 25 | 4.3% | 14.1% | ||
| Q3 25 | 14.3% | 27.9% | ||
| Q2 25 | -16.7% | 16.8% | ||
| Q1 25 | -14.7% | -45.2% | ||
| Q4 24 | -4.5% | -0.1% | ||
| Q3 24 | 19.5% | 22.1% | ||
| Q2 24 | 11.5% | 29.9% | ||
| Q1 24 | 9.4% | -36.0% |
| Q4 25 | 4.1% | 9.2% | ||
| Q3 25 | 6.3% | 3.6% | ||
| Q2 25 | 12.6% | 4.0% | ||
| Q1 25 | 8.7% | 3.1% | ||
| Q4 24 | 15.6% | 7.2% | ||
| Q3 24 | 6.5% | 2.7% | ||
| Q2 24 | 6.0% | 2.8% | ||
| Q1 24 | 8.2% | 4.8% |
| Q4 25 | 1.67× | — | ||
| Q3 25 | 4.40× | 6.29× | ||
| Q2 25 | -0.49× | 2.25× | ||
| Q1 25 | -0.81× | — | ||
| Q4 24 | 3.29× | — | ||
| Q3 24 | 4.25× | 6.32× | ||
| Q2 24 | 2.94× | 3.95× | ||
| Q1 24 | 6.45× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GHM
| Defense | $35.3M | 62% |
| Energy And Process | $18.3M | 32% |
| Space | $3.1M | 6% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
