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Side-by-side financial comparison of HALOZYME THERAPEUTICS, INC. (HALO) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
HALOZYME THERAPEUTICS, INC. is the larger business by last-quarter revenue ($451.8M vs $340.0M, roughly 1.3× Walker & Dunlop, Inc.). Walker & Dunlop, Inc. runs the higher net margin — -12.9% vs -31.3%, a 18.4% gap on every dollar of revenue. On growth, HALOZYME THERAPEUTICS, INC. posted the faster year-over-year revenue change (51.6% vs -0.4%). HALOZYME THERAPEUTICS, INC. produced more free cash flow last quarter ($217.6M vs $-680.1M). Over the past eight quarters, HALOZYME THERAPEUTICS, INC.'s revenue compounded faster (51.9% CAGR vs 22.1%).
Halozyme Therapeutics, Inc. is an American biotechnology company. It develops oncology therapies designed to target the tumor microenvironment.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
HALO vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $451.8M | $340.0M |
| Net Profit | $-141.6M | $-13.9M |
| Gross Margin | 82.6% | — |
| Operating Margin | -20.6% | -17.2% |
| Net Margin | -31.3% | -12.9% |
| Revenue YoY | 51.6% | -0.4% |
| Net Profit YoY | -203.3% | -131.0% |
| EPS (diluted) | $-1.13 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $354.3M | $337.7M | ||
| Q2 25 | $325.7M | $319.2M | ||
| Q1 25 | $264.9M | $237.4M | ||
| Q4 24 | $298.0M | $341.5M | ||
| Q3 24 | $290.1M | $292.3M | ||
| Q2 24 | $231.4M | $270.7M | ||
| Q1 24 | $195.9M | $228.1M |
| Q4 25 | $-141.6M | $-13.9M | ||
| Q3 25 | $175.2M | $33.5M | ||
| Q2 25 | $165.2M | $34.0M | ||
| Q1 25 | $118.1M | $2.8M | ||
| Q4 24 | $137.0M | $44.8M | ||
| Q3 24 | $137.0M | $28.8M | ||
| Q2 24 | $93.2M | $22.7M | ||
| Q1 24 | $76.8M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | 61.5% | 13.6% | ||
| Q2 25 | 62.2% | 14.5% | ||
| Q1 25 | 53.4% | 2.2% | ||
| Q4 24 | 58.9% | 15.3% | ||
| Q3 24 | 56.3% | 12.8% | ||
| Q2 24 | 50.7% | 10.4% | ||
| Q1 24 | 48.8% | 6.0% |
| Q4 25 | -31.3% | -12.9% | ||
| Q3 25 | 49.5% | 9.9% | ||
| Q2 25 | 50.7% | 10.6% | ||
| Q1 25 | 44.6% | 1.2% | ||
| Q4 24 | 46.0% | 13.1% | ||
| Q3 24 | 47.2% | 9.9% | ||
| Q2 24 | 40.3% | 8.4% | ||
| Q1 24 | 39.2% | 5.2% |
| Q4 25 | $-1.13 | $-0.41 | ||
| Q3 25 | $1.43 | $0.98 | ||
| Q2 25 | $1.33 | $0.99 | ||
| Q1 25 | $0.93 | $0.08 | ||
| Q4 24 | $1.06 | $1.32 | ||
| Q3 24 | $1.05 | $0.85 | ||
| Q2 24 | $0.72 | $0.67 | ||
| Q1 24 | $0.60 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $48.8M | $1.7B |
| Total Assets | $2.5B | $5.1B |
| Debt / EquityLower = less leverage | 43.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.8M | $299.3M | ||
| Q3 25 | $419.7M | $274.8M | ||
| Q2 25 | $61.9M | $233.7M | ||
| Q1 25 | $176.3M | $181.0M | ||
| Q4 24 | $115.8M | $279.3M | ||
| Q3 24 | $154.3M | $179.8M | ||
| Q2 24 | $187.9M | $208.1M | ||
| Q1 24 | $164.6M | $216.5M |
| 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 | $1.7B | ||
| Q3 25 | $503.9M | $1.8B | ||
| Q2 25 | $332.7M | $1.8B | ||
| Q1 25 | $482.3M | $1.7B | ||
| Q4 24 | $363.8M | $1.7B | ||
| Q3 24 | $452.7M | $1.7B | ||
| Q2 24 | $289.4M | $1.7B | ||
| Q1 24 | $177.8M | $1.7B |
| Q4 25 | $2.5B | $5.1B | ||
| Q3 25 | $2.2B | $5.8B | ||
| Q2 25 | $2.1B | $4.7B | ||
| Q1 25 | $2.2B | $4.5B | ||
| Q4 24 | $2.1B | $4.4B | ||
| Q3 24 | $2.1B | $4.6B | ||
| Q2 24 | $2.0B | $4.2B | ||
| Q1 24 | $1.8B | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $217.6M | $-680.1M |
| FCF MarginFCF / Revenue | 48.2% | -200.0% |
| Capex IntensityCapex / Revenue | 0.3% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $644.6M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $219.0M | $-664.3M | ||
| Q3 25 | $178.6M | $-948.1M | ||
| Q2 25 | $99.7M | $-238.5M | ||
| Q1 25 | $154.2M | $-281.1M | ||
| Q4 24 | $178.5M | $129.4M | ||
| Q3 24 | $115.4M | $-202.0M | ||
| Q2 24 | $55.8M | $-237.8M | ||
| Q1 24 | $129.4M | $38.4M |
| Q4 25 | $217.6M | $-680.1M | ||
| Q3 25 | $175.6M | $-950.4M | ||
| Q2 25 | $98.1M | $-241.0M | ||
| Q1 25 | $153.3M | $-284.7M | ||
| Q4 24 | $175.4M | $116.4M | ||
| Q3 24 | $113.9M | $-204.0M | ||
| Q2 24 | $53.2M | $-241.7M | ||
| Q1 24 | $125.9M | $35.2M |
| Q4 25 | 48.2% | -200.0% | ||
| Q3 25 | 49.6% | -281.5% | ||
| Q2 25 | 30.1% | -75.5% | ||
| Q1 25 | 57.9% | -120.0% | ||
| Q4 24 | 58.9% | 34.1% | ||
| Q3 24 | 39.3% | -69.8% | ||
| Q2 24 | 23.0% | -89.3% | ||
| Q1 24 | 64.3% | 15.4% |
| Q4 25 | 0.3% | 4.6% | ||
| Q3 25 | 0.9% | 0.7% | ||
| Q2 25 | 0.5% | 0.8% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 1.0% | 3.8% | ||
| Q3 24 | 0.5% | 0.7% | ||
| Q2 24 | 1.1% | 1.4% | ||
| Q1 24 | 1.8% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | -28.34× | ||
| Q2 25 | 0.60× | -7.02× | ||
| Q1 25 | 1.31× | -102.07× | ||
| Q4 24 | 1.30× | 2.89× | ||
| Q3 24 | 0.84× | -7.01× | ||
| Q2 24 | 0.60× | -10.49× | ||
| Q1 24 | 1.68× | 3.24× |
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% |
WD
Segment breakdown not available.
