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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.
HORIZON BANCORP INC is the larger business by last-quarter revenue ($63.5M vs $47.7M, roughly 1.3× IRONWOOD PHARMACEUTICALS INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -4.8%, a 47.2% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $74.3M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs -20.2%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
HBNC vs IRWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $47.7M |
| Net Profit | $26.9M | $-2.3M |
| Gross Margin | — | — |
| Operating Margin | 51.5% | 14.3% |
| Net Margin | 42.4% | -4.8% |
| Revenue YoY | 19.5% | -47.3% |
| Net Profit YoY | 347.4% | -200.9% |
| EPS (diluted) | $0.44 | $0.01 |
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 | $63.5M | $47.7M | ||
| Q3 25 | $58.4M | $122.1M | ||
| Q2 25 | $66.3M | $85.2M | ||
| Q1 25 | $68.8M | $41.1M | ||
| Q4 24 | $53.1M | $90.5M | ||
| Q3 24 | $58.4M | $91.6M | ||
| Q2 24 | $55.8M | $94.4M | ||
| Q1 24 | $53.2M | $74.9M |
| Q4 25 | $26.9M | $-2.3M | ||
| Q3 25 | $-222.0M | $40.1M | ||
| Q2 25 | $20.6M | $23.6M | ||
| Q1 25 | $23.9M | $-37.4M | ||
| Q4 24 | $-10.9M | $2.3M | ||
| Q3 24 | $18.2M | $3.6M | ||
| Q2 24 | $14.1M | $-860.0K | ||
| Q1 24 | $14.0M | $-4.2M |
| Q4 25 | 51.5% | 14.3% | ||
| Q3 25 | -490.4% | 61.8% | ||
| Q2 25 | 36.8% | 53.2% | ||
| Q1 25 | 40.8% | -70.7% | ||
| Q4 24 | -41.3% | 34.8% | ||
| Q3 24 | 31.0% | 28.0% | ||
| Q2 24 | 28.5% | 26.5% | ||
| Q1 24 | 28.8% | 14.7% |
| Q4 25 | 42.4% | -4.8% | ||
| Q3 25 | -380.2% | 32.8% | ||
| Q2 25 | 31.1% | 27.7% | ||
| Q1 25 | 34.8% | -90.9% | ||
| Q4 24 | -20.5% | 2.5% | ||
| Q3 24 | 31.1% | 4.0% | ||
| Q2 24 | 25.4% | -0.9% | ||
| Q1 24 | 26.3% | -5.6% |
| Q4 25 | $0.44 | $0.01 | ||
| Q3 25 | $-4.69 | $0.23 | ||
| Q2 25 | $0.47 | $0.14 | ||
| Q1 25 | $0.54 | $-0.23 | ||
| Q4 24 | $-0.25 | $0.03 | ||
| Q3 24 | $0.41 | $0.02 | ||
| Q2 24 | $0.32 | $-0.01 | ||
| Q1 24 | $0.32 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.5M | $215.5M |
| Total DebtLower is stronger | $248.6M | — |
| Stockholders' EquityBook value | $688.3M | $-261.8M |
| Total Assets | $6.4B | $396.9M |
| Debt / EquityLower = less leverage | 0.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | $215.5M | ||
| Q3 25 | $458.3M | $140.4M | ||
| Q2 25 | $137.9M | $92.9M | ||
| Q1 25 | $169.7M | $108.5M | ||
| Q4 24 | $293.4M | $88.6M | ||
| Q3 24 | $234.8M | $88.2M | ||
| Q2 24 | $146.1M | $105.5M | ||
| Q1 24 | — | $121.5M |
| Q4 25 | $248.6M | — | ||
| Q3 25 | — | $199.5M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $199.2M | ||
| Q4 24 | $1.2B | $199.0M | ||
| Q3 24 | — | $198.8M | ||
| Q2 24 | — | $198.6M | ||
| Q1 24 | — | $398.3M |
| Q4 25 | $688.3M | $-261.8M | ||
| Q3 25 | $660.8M | $-264.2M | ||
| Q2 25 | $790.9M | $-308.2M | ||
| Q1 25 | $776.1M | $-334.1M | ||
| Q4 24 | $763.6M | $-301.3M | ||
| Q3 24 | $754.8M | $-311.3M | ||
| Q2 24 | $726.7M | $-321.7M | ||
| Q1 24 | $721.3M | $-330.5M |
| Q4 25 | $6.4B | $396.9M | ||
| Q3 25 | $6.7B | $396.1M | ||
| Q2 25 | $7.7B | $342.9M | ||
| Q1 25 | $7.6B | $327.2M | ||
| Q4 24 | $7.8B | $350.9M | ||
| Q3 24 | $7.9B | $389.5M | ||
| Q2 24 | $7.9B | $395.6M | ||
| Q1 24 | $7.9B | $438.8M |
| Q4 25 | 0.36× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $79.2M | $74.6M |
| Free Cash FlowOCF − Capex | $74.3M | $74.6M |
| FCF MarginFCF / Revenue | 117.0% | 156.3% |
| Capex IntensityCapex / Revenue | 7.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | $127.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $74.6M | ||
| Q3 25 | $10.9M | $47.6M | ||
| Q2 25 | $19.5M | $-15.1M | ||
| Q1 25 | $15.2M | $20.0M | ||
| Q4 24 | $6.4M | $15.2M | ||
| Q3 24 | $32.3M | $9.9M | ||
| Q2 24 | $15.9M | $33.5M | ||
| Q1 24 | $6.5M | $45.0M |
| Q4 25 | $74.3M | $74.6M | ||
| Q3 25 | $9.4M | $47.6M | ||
| Q2 25 | $18.1M | $-15.1M | ||
| Q1 25 | $14.1M | $19.9M | ||
| Q4 24 | $1.3M | — | ||
| Q3 24 | $31.0M | $9.9M | ||
| Q2 24 | $15.1M | $33.4M | ||
| Q1 24 | $5.4M | $44.9M |
| Q4 25 | 117.0% | 156.3% | ||
| Q3 25 | 16.1% | 39.0% | ||
| Q2 25 | 27.3% | -17.7% | ||
| Q1 25 | 20.5% | 48.4% | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 53.1% | 10.8% | ||
| Q2 24 | 27.1% | 35.4% | ||
| Q1 24 | 10.1% | 60.0% |
| Q4 25 | 7.8% | 0.0% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 2.1% | 0.0% | ||
| Q1 25 | 1.6% | 0.1% | ||
| Q4 24 | 9.6% | 0.0% | ||
| Q3 24 | 2.2% | 0.0% | ||
| Q2 24 | 1.5% | 0.1% | ||
| Q1 24 | 2.2% | 0.1% |
| Q4 25 | 2.94× | — | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | 0.94× | -0.64× | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | 6.74× | ||
| Q3 24 | 1.78× | 2.71× | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
