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Side-by-side financial comparison of HALOZYME THERAPEUTICS, INC. (HALO) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
HALOZYME THERAPEUTICS, INC. is the larger business by last-quarter revenue ($451.8M vs $253.4M, roughly 1.8× Palomar Holdings, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 51.6%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $217.6M). Over the past eight quarters, HALOZYME THERAPEUTICS, INC.'s revenue compounded faster (51.9% CAGR vs 46.2%).
Halozyme Therapeutics, Inc. is an American biotechnology company. It develops oncology therapies designed to target the tumor microenvironment.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
HALO vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $451.8M | $253.4M |
| Net Profit | $-141.6M | — |
| Gross Margin | 82.6% | — |
| Operating Margin | -20.6% | 28.7% |
| Net Margin | -31.3% | — |
| Revenue YoY | 51.6% | 62.7% |
| Net Profit YoY | -203.3% | — |
| EPS (diluted) | $-1.13 | $2.05 |
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 | $451.8M | $253.4M | ||
| Q3 25 | $354.3M | $244.7M | ||
| Q2 25 | $325.7M | $203.3M | ||
| Q1 25 | $264.9M | $174.6M | ||
| Q4 24 | $298.0M | $155.8M | ||
| Q3 24 | $290.1M | $148.5M | ||
| Q2 24 | $231.4M | $131.1M | ||
| Q1 24 | $195.9M | $118.5M |
| Q4 25 | $-141.6M | — | ||
| Q3 25 | $175.2M | $51.5M | ||
| Q2 25 | $165.2M | $46.5M | ||
| Q1 25 | $118.1M | $42.9M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $137.0M | $30.5M | ||
| Q2 24 | $93.2M | $25.7M | ||
| Q1 24 | $76.8M | $26.4M |
| Q4 25 | 82.6% | — | ||
| Q3 25 | 84.4% | — | ||
| Q2 25 | 85.8% | — | ||
| Q1 25 | 81.7% | — | ||
| Q4 24 | 85.9% | — | ||
| Q3 24 | 83.0% | — | ||
| Q2 24 | 82.9% | — | ||
| Q1 24 | 85.5% | — |
| Q4 25 | -20.6% | 28.7% | ||
| Q3 25 | 61.5% | 27.4% | ||
| Q2 25 | 62.2% | 29.5% | ||
| Q1 25 | 53.4% | 30.8% | ||
| Q4 24 | 58.9% | 28.9% | ||
| Q3 24 | 56.3% | 25.9% | ||
| Q2 24 | 50.7% | 25.5% | ||
| Q1 24 | 48.8% | 29.0% |
| Q4 25 | -31.3% | — | ||
| Q3 25 | 49.5% | 21.0% | ||
| Q2 25 | 50.7% | 22.9% | ||
| Q1 25 | 44.6% | 24.6% | ||
| Q4 24 | 46.0% | — | ||
| Q3 24 | 47.2% | 20.5% | ||
| Q2 24 | 40.3% | 19.6% | ||
| Q1 24 | 39.2% | 22.3% |
| Q4 25 | $-1.13 | $2.05 | ||
| Q3 25 | $1.43 | $1.87 | ||
| Q2 25 | $1.33 | $1.68 | ||
| Q1 25 | $0.93 | $1.57 | ||
| Q4 24 | $1.06 | $1.29 | ||
| Q3 24 | $1.05 | $1.15 | ||
| Q2 24 | $0.72 | $1.00 | ||
| Q1 24 | $0.60 | $1.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $133.8M | $106.9M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $48.8M | $942.7M |
| Total Assets | $2.5B | $3.1B |
| Debt / EquityLower = less leverage | 43.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.8M | $106.9M | ||
| Q3 25 | $419.7M | $111.7M | ||
| Q2 25 | $61.9M | $81.3M | ||
| Q1 25 | $176.3M | $119.3M | ||
| Q4 24 | $115.8M | $80.4M | ||
| Q3 24 | $154.3M | $86.5M | ||
| Q2 24 | $187.9M | $47.8M | ||
| Q1 24 | $164.6M | $61.4M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $48.8M | $942.7M | ||
| Q3 25 | $503.9M | $878.1M | ||
| Q2 25 | $332.7M | $847.2M | ||
| Q1 25 | $482.3M | $790.4M | ||
| Q4 24 | $363.8M | $729.0M | ||
| Q3 24 | $452.7M | $703.3M | ||
| Q2 24 | $289.4M | $532.6M | ||
| Q1 24 | $177.8M | $501.7M |
| Q4 25 | $2.5B | $3.1B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.1B | $2.8B | ||
| Q1 25 | $2.2B | $2.4B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.1B | $2.3B | ||
| Q2 24 | $2.0B | $2.0B | ||
| Q1 24 | $1.8B | $1.9B |
| Q4 25 | 43.89× | — | ||
| Q3 25 | 3.00× | — | ||
| Q2 25 | 4.54× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 3.32× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 8.44× | — |
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 | $219.0M | $409.1M |
| Free Cash FlowOCF − Capex | $217.6M | $409.0M |
| FCF MarginFCF / Revenue | 48.2% | 161.4% |
| Capex IntensityCapex / Revenue | 0.3% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $644.6M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $219.0M | $409.1M | ||
| Q3 25 | $178.6M | $83.6M | ||
| Q2 25 | $99.7M | $120.9M | ||
| Q1 25 | $154.2M | $87.2M | ||
| Q4 24 | $178.5M | $261.2M | ||
| Q3 24 | $115.4M | $100.3M | ||
| Q2 24 | $55.8M | $55.1M | ||
| Q1 24 | $129.4M | $33.1M |
| Q4 25 | $217.6M | $409.0M | ||
| Q3 25 | $175.6M | $83.6M | ||
| Q2 25 | $98.1M | $120.8M | ||
| Q1 25 | $153.3M | $87.1M | ||
| Q4 24 | $175.4M | $260.9M | ||
| Q3 24 | $113.9M | $100.1M | ||
| Q2 24 | $53.2M | — | ||
| Q1 24 | $125.9M | — |
| Q4 25 | 48.2% | 161.4% | ||
| Q3 25 | 49.6% | 34.2% | ||
| Q2 25 | 30.1% | 59.4% | ||
| Q1 25 | 57.9% | 49.9% | ||
| Q4 24 | 58.9% | 167.5% | ||
| Q3 24 | 39.3% | 67.4% | ||
| Q2 24 | 23.0% | — | ||
| Q1 24 | 64.3% | — |
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.9% | 0.0% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | 0.4% | 0.0% | ||
| Q4 24 | 1.0% | 0.2% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 1.1% | 0.0% | ||
| Q1 24 | 1.8% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | 1.63× | ||
| Q2 25 | 0.60× | 2.60× | ||
| Q1 25 | 1.31× | 2.03× | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | 0.84× | 3.29× | ||
| Q2 24 | 0.60× | 2.14× | ||
| Q1 24 | 1.68× | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
PLMR
Segment breakdown not available.
