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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $63.5M, roughly 1.2× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -178.3%, a 220.7% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 0.4%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $23.2M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
HBNC vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $78.6M |
| Net Profit | $26.9M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 51.5% | -182.2% |
| Net Margin | 42.4% | -178.3% |
| Revenue YoY | 19.5% | 0.4% |
| Net Profit YoY | 347.4% | -3304.1% |
| EPS (diluted) | $0.44 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $58.4M | $77.7M | ||
| Q2 25 | $66.3M | $75.6M | ||
| Q1 25 | $68.8M | $77.3M | ||
| Q4 24 | $53.1M | $78.3M | ||
| Q3 24 | $58.4M | $79.1M | ||
| Q2 24 | $55.8M | $74.9M | ||
| Q1 24 | $53.2M | $80.7M |
| Q4 25 | $26.9M | $-140.1M | ||
| Q3 25 | $-222.0M | $-6.4M | ||
| Q2 25 | $20.6M | $-102.3M | ||
| Q1 25 | $23.9M | $-7.9M | ||
| Q4 24 | $-10.9M | $-4.1M | ||
| Q3 24 | $18.2M | $3.2M | ||
| Q2 24 | $14.1M | $-4.1M | ||
| Q1 24 | $14.0M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 51.5% | -182.2% | ||
| Q3 25 | -490.4% | -3.9% | ||
| Q2 25 | 36.8% | -138.7% | ||
| Q1 25 | 40.8% | -4.7% | ||
| Q4 24 | -41.3% | -1.5% | ||
| Q3 24 | 31.0% | -0.9% | ||
| Q2 24 | 28.5% | -4.6% | ||
| Q1 24 | 28.8% | -3.1% |
| Q4 25 | 42.4% | -178.3% | ||
| Q3 25 | -380.2% | -8.3% | ||
| Q2 25 | 31.1% | -135.2% | ||
| Q1 25 | 34.8% | -10.3% | ||
| Q4 24 | -20.5% | -5.3% | ||
| Q3 24 | 31.1% | 4.1% | ||
| Q2 24 | 25.4% | -5.4% | ||
| Q1 24 | 26.3% | -6.5% |
| Q4 25 | $0.44 | $-1.68 | ||
| Q3 25 | $-4.69 | $-0.08 | ||
| Q2 25 | $0.47 | $-1.15 | ||
| Q1 25 | $0.54 | $-0.09 | ||
| Q4 24 | $-0.25 | $-0.04 | ||
| Q3 24 | $0.41 | $0.03 | ||
| Q2 24 | $0.32 | $-0.04 | ||
| Q1 24 | $0.32 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | $248.6M | $280.1M |
| Stockholders' EquityBook value | $688.3M | $484.4M |
| Total Assets | $6.4B | $1.2B |
| Debt / EquityLower = less leverage | 0.36× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | $115.7M | ||
| Q3 25 | $458.3M | $95.7M | ||
| Q2 25 | $137.9M | $162.6M | ||
| Q1 25 | $169.7M | $165.5M | ||
| Q4 24 | $293.4M | $189.5M | ||
| Q3 24 | $234.8M | $168.7M | ||
| Q2 24 | $146.1M | $147.1M | ||
| Q1 24 | — | $128.3M |
| Q4 25 | $248.6M | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | $1.2B | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $688.3M | $484.4M | ||
| Q3 25 | $660.8M | $616.9M | ||
| Q2 25 | $790.9M | $633.7M | ||
| Q1 25 | $776.1M | $755.7M | ||
| Q4 24 | $763.6M | $761.3M | ||
| Q3 24 | $754.8M | $754.7M | ||
| Q2 24 | $726.7M | $815.4M | ||
| Q1 24 | $721.3M | $813.8M |
| Q4 25 | $6.4B | $1.2B | ||
| Q3 25 | $6.7B | $1.3B | ||
| Q2 25 | $7.7B | $1.4B | ||
| Q1 25 | $7.6B | $1.5B | ||
| Q4 24 | $7.8B | $1.6B | ||
| Q3 24 | $7.9B | $1.6B | ||
| Q2 24 | $7.9B | $1.5B | ||
| Q1 24 | $7.9B | $1.5B |
| Q4 25 | 0.36× | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 1.61× | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $74.3M | $23.2M |
| FCF MarginFCF / Revenue | 117.0% | 29.6% |
| Capex IntensityCapex / Revenue | 7.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $23.3M | ||
| Q3 25 | $10.9M | $32.2M | ||
| Q2 25 | $19.5M | $33.1M | ||
| Q1 25 | $15.2M | $2.5M | ||
| Q4 24 | $6.4M | $34.3M | ||
| Q3 24 | $32.3M | $60.1M | ||
| Q2 24 | $15.9M | $31.0M | ||
| Q1 24 | $6.5M | $24.8M |
| Q4 25 | $74.3M | $23.2M | ||
| Q3 25 | $9.4M | $32.1M | ||
| Q2 25 | $18.1M | $33.0M | ||
| Q1 25 | $14.1M | $2.4M | ||
| Q4 24 | $1.3M | $34.0M | ||
| Q3 24 | $31.0M | $59.8M | ||
| Q2 24 | $15.1M | $30.5M | ||
| Q1 24 | $5.4M | $24.7M |
| Q4 25 | 117.0% | 29.6% | ||
| Q3 25 | 16.1% | 41.3% | ||
| Q2 25 | 27.3% | 43.6% | ||
| Q1 25 | 20.5% | 3.0% | ||
| Q4 24 | 2.4% | 43.5% | ||
| Q3 24 | 53.1% | 75.6% | ||
| Q2 24 | 27.1% | 40.7% | ||
| Q1 24 | 10.1% | 30.6% |
| Q4 25 | 7.8% | 0.1% | ||
| Q3 25 | 2.6% | 0.2% | ||
| Q2 25 | 2.1% | 0.1% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 9.6% | 0.3% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 1.5% | 0.6% | ||
| Q1 24 | 2.2% | 0.1% |
| Q4 25 | 2.94× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.78× | 18.52× | ||
| Q2 24 | 1.13× | — | ||
| 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.
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
