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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $63.5M, roughly 1.1× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs 2.0%, a 40.4% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs -1.8%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $33.5M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
HBNC vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $71.1M |
| Net Profit | $26.9M | $1.4M |
| Gross Margin | — | — |
| Operating Margin | 51.5% | 13.1% |
| Net Margin | 42.4% | 2.0% |
| Revenue YoY | 19.5% | -1.8% |
| Net Profit YoY | 347.4% | -75.2% |
| EPS (diluted) | $0.44 | — |
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 | $71.1M | ||
| Q3 25 | $58.4M | $73.2M | ||
| Q2 25 | $66.3M | $72.8M | ||
| Q1 25 | $68.8M | $74.5M | ||
| Q4 24 | $53.1M | $72.5M | ||
| Q3 24 | $58.4M | $78.5M | ||
| Q2 24 | $55.8M | $78.5M | ||
| Q1 24 | $53.2M | $78.3M |
| Q4 25 | $26.9M | $1.4M | ||
| Q3 25 | $-222.0M | $4.0M | ||
| Q2 25 | $20.6M | $4.7M | ||
| Q1 25 | $23.9M | $-2.0M | ||
| Q4 24 | $-10.9M | $5.8M | ||
| Q3 24 | $18.2M | $966.0K | ||
| Q2 24 | $14.1M | $3.7M | ||
| Q1 24 | $14.0M | $-3.4M |
| Q4 25 | 51.5% | 13.1% | ||
| Q3 25 | -490.4% | 25.0% | ||
| Q2 25 | 36.8% | 19.3% | ||
| Q1 25 | 40.8% | 7.2% | ||
| Q4 24 | -41.3% | 5.9% | ||
| Q3 24 | 31.0% | 19.4% | ||
| Q2 24 | 28.5% | 20.6% | ||
| Q1 24 | 28.8% | 5.8% |
| Q4 25 | 42.4% | 2.0% | ||
| Q3 25 | -380.2% | 5.4% | ||
| Q2 25 | 31.1% | 6.4% | ||
| Q1 25 | 34.8% | -2.6% | ||
| Q4 24 | -20.5% | 8.0% | ||
| Q3 24 | 31.1% | 1.2% | ||
| Q2 24 | 25.4% | 4.7% | ||
| Q1 24 | 26.3% | -4.3% |
| Q4 25 | $0.44 | — | ||
| Q3 25 | $-4.69 | — | ||
| Q2 25 | $0.47 | — | ||
| Q1 25 | $0.54 | — | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $0.41 | — | ||
| Q2 24 | $0.32 | — | ||
| Q1 24 | $0.32 | — |
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 | $118.7M |
| Total DebtLower is stronger | $248.6M | $432.2M |
| Stockholders' EquityBook value | $688.3M | $452.4M |
| Total Assets | $6.4B | $582.5M |
| Debt / EquityLower = less leverage | 0.36× | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | $118.7M | ||
| Q3 25 | $458.3M | $107.5M | ||
| Q2 25 | $137.9M | $94.3M | ||
| Q1 25 | $169.7M | $89.1M | ||
| Q4 24 | $293.4M | $96.6M | ||
| Q3 24 | $234.8M | $83.8M | ||
| Q2 24 | $146.1M | $66.1M | ||
| Q1 24 | — | $82.1M |
| Q4 25 | $248.6M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $1.2B | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
| Q4 25 | $688.3M | $452.4M | ||
| Q3 25 | $660.8M | $448.1M | ||
| Q2 25 | $790.9M | $442.4M | ||
| Q1 25 | $776.1M | $433.5M | ||
| Q4 24 | $763.6M | $429.5M | ||
| Q3 24 | $754.8M | $423.1M | ||
| Q2 24 | $726.7M | $418.4M | ||
| Q1 24 | $721.3M | $412.0M |
| Q4 25 | $6.4B | $582.5M | ||
| Q3 25 | $6.7B | $582.2M | ||
| Q2 25 | $7.7B | $574.8M | ||
| Q1 25 | $7.6B | $571.4M | ||
| Q4 24 | $7.8B | $581.6M | ||
| Q3 24 | $7.9B | $578.6M | ||
| Q2 24 | $7.9B | $571.4M | ||
| Q1 24 | $7.9B | $566.7M |
| Q4 25 | 0.36× | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 1.61× | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | $74.3M | $33.5M |
| FCF MarginFCF / Revenue | 117.0% | 47.1% |
| Capex IntensityCapex / Revenue | 7.8% | 10.4% |
| Cash ConversionOCF / Net Profit | 2.94× | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $40.9M | ||
| Q3 25 | $10.9M | $17.7M | ||
| Q2 25 | $19.5M | $4.6M | ||
| Q1 25 | $15.2M | $5.7M | ||
| Q4 24 | $6.4M | $59.7M | ||
| Q3 24 | $32.3M | $17.6M | ||
| Q2 24 | $15.9M | $15.9M | ||
| Q1 24 | $6.5M | $9.4M |
| Q4 25 | $74.3M | $33.5M | ||
| Q3 25 | $9.4M | $16.4M | ||
| Q2 25 | $18.1M | $2.9M | ||
| Q1 25 | $14.1M | $4.0M | ||
| Q4 24 | $1.3M | $53.0M | ||
| Q3 24 | $31.0M | $16.3M | ||
| Q2 24 | $15.1M | $14.0M | ||
| Q1 24 | $5.4M | $6.8M |
| Q4 25 | 117.0% | 47.1% | ||
| Q3 25 | 16.1% | 22.4% | ||
| Q2 25 | 27.3% | 4.0% | ||
| Q1 25 | 20.5% | 5.3% | ||
| Q4 24 | 2.4% | 73.2% | ||
| Q3 24 | 53.1% | 20.8% | ||
| Q2 24 | 27.1% | 17.8% | ||
| Q1 24 | 10.1% | 8.6% |
| Q4 25 | 7.8% | 10.4% | ||
| Q3 25 | 2.6% | 1.8% | ||
| Q2 25 | 2.1% | 2.2% | ||
| Q1 25 | 1.6% | 2.3% | ||
| Q4 24 | 9.6% | 9.1% | ||
| Q3 24 | 2.2% | 1.7% | ||
| Q2 24 | 1.5% | 2.4% | ||
| Q1 24 | 2.2% | 3.3% |
| Q4 25 | 2.94× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | 0.94× | 0.97× | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | 1.78× | 18.22× | ||
| Q2 24 | 1.13× | 4.29× | ||
| Q1 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HBNC
Segment breakdown not available.
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
