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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $63.5M, roughly 2.0× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs 1.5%, a 40.9% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs -3.9%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $16.3M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
HBNC vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $124.7M |
| Net Profit | $26.9M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 51.5% | 3.3% |
| Net Margin | 42.4% | 1.5% |
| Revenue YoY | 19.5% | -3.9% |
| Net Profit YoY | 347.4% | -53.6% |
| EPS (diluted) | $0.44 | $0.04 |
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 | $124.7M | ||
| Q3 25 | $58.4M | $85.1M | ||
| Q2 25 | $66.3M | $140.8M | ||
| Q1 25 | $68.8M | $115.9M | ||
| Q4 24 | $53.1M | $129.7M | ||
| Q3 24 | $58.4M | $88.3M | ||
| Q2 24 | $55.8M | $159.1M | ||
| Q1 24 | $53.2M | $137.5M |
| Q4 25 | $26.9M | $1.9M | ||
| Q3 25 | $-222.0M | $-3.4M | ||
| Q2 25 | $20.6M | $8.6M | ||
| Q1 25 | $23.9M | $2.1M | ||
| Q4 24 | $-10.9M | $4.5M | ||
| Q3 24 | $18.2M | $-1.9M | ||
| Q2 24 | $14.1M | $27.9M | ||
| Q1 24 | $14.0M | $7.9M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | 51.5% | 3.3% | ||
| Q3 25 | -490.4% | -3.5% | ||
| Q2 25 | 36.8% | 9.3% | ||
| Q1 25 | 40.8% | 4.1% | ||
| Q4 24 | -41.3% | 5.8% | ||
| Q3 24 | 31.0% | -1.7% | ||
| Q2 24 | 28.5% | 17.4% | ||
| Q1 24 | 28.8% | 8.2% |
| Q4 25 | 42.4% | 1.5% | ||
| Q3 25 | -380.2% | -4.0% | ||
| Q2 25 | 31.1% | 6.1% | ||
| Q1 25 | 34.8% | 1.8% | ||
| Q4 24 | -20.5% | 3.5% | ||
| Q3 24 | 31.1% | -2.1% | ||
| Q2 24 | 25.4% | 17.5% | ||
| Q1 24 | 26.3% | 5.7% |
| Q4 25 | $0.44 | $0.04 | ||
| Q3 25 | $-4.69 | $-0.08 | ||
| Q2 25 | $0.47 | $0.19 | ||
| Q1 25 | $0.54 | $0.05 | ||
| Q4 24 | $-0.25 | $0.10 | ||
| Q3 24 | $0.41 | $-0.04 | ||
| Q2 24 | $0.32 | $0.60 | ||
| Q1 24 | $0.32 | $0.17 |
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 | $22.4M |
| Total DebtLower is stronger | $248.6M | — |
| Stockholders' EquityBook value | $688.3M | $363.2M |
| Total Assets | $6.4B | $548.6M |
| Debt / EquityLower = less leverage | 0.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | $22.4M | ||
| Q3 25 | $458.3M | $18.0M | ||
| Q2 25 | $137.9M | $25.2M | ||
| Q1 25 | $169.7M | $26.7M | ||
| Q4 24 | $293.4M | $39.1M | ||
| Q3 24 | $234.8M | $35.5M | ||
| Q2 24 | $146.1M | $60.8M | ||
| Q1 24 | — | $47.4M |
| Q4 25 | $248.6M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $688.3M | $363.2M | ||
| Q3 25 | $660.8M | $364.4M | ||
| Q2 25 | $790.9M | $372.5M | ||
| Q1 25 | $776.1M | $366.9M | ||
| Q4 24 | $763.6M | $371.5M | ||
| Q3 24 | $754.8M | $380.0M | ||
| Q2 24 | $726.7M | $399.9M | ||
| Q1 24 | $721.3M | $376.4M |
| Q4 25 | $6.4B | $548.6M | ||
| Q3 25 | $6.7B | $554.6M | ||
| Q2 25 | $7.7B | $559.6M | ||
| Q1 25 | $7.6B | $578.9M | ||
| Q4 24 | $7.8B | $587.4M | ||
| Q3 24 | $7.9B | $571.3M | ||
| Q2 24 | $7.9B | $577.4M | ||
| Q1 24 | $7.9B | $570.6M |
| 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 | $27.3M |
| Free Cash FlowOCF − Capex | $74.3M | $16.3M |
| FCF MarginFCF / Revenue | 117.0% | 13.1% |
| Capex IntensityCapex / Revenue | 7.8% | 8.8% |
| Cash ConversionOCF / Net Profit | 2.94× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $27.3M | ||
| Q3 25 | $10.9M | $-8.1M | ||
| Q2 25 | $19.5M | $40.8M | ||
| Q1 25 | $15.2M | $-9.8M | ||
| Q4 24 | $6.4M | $-7.4M | ||
| Q3 24 | $32.3M | $-30.8M | ||
| Q2 24 | $15.9M | $43.7M | ||
| Q1 24 | $6.5M | $25.2M |
| Q4 25 | $74.3M | $16.3M | ||
| Q3 25 | $9.4M | $-12.4M | ||
| Q2 25 | $18.1M | $33.5M | ||
| Q1 25 | $14.1M | $-16.1M | ||
| Q4 24 | $1.3M | $-10.7M | ||
| Q3 24 | $31.0M | $-35.5M | ||
| Q2 24 | $15.1M | $38.2M | ||
| Q1 24 | $5.4M | $7.0M |
| Q4 25 | 117.0% | 13.1% | ||
| Q3 25 | 16.1% | -14.6% | ||
| Q2 25 | 27.3% | 23.8% | ||
| Q1 25 | 20.5% | -13.9% | ||
| Q4 24 | 2.4% | -8.3% | ||
| Q3 24 | 53.1% | -40.2% | ||
| Q2 24 | 27.1% | 24.0% | ||
| Q1 24 | 10.1% | 5.1% |
| Q4 25 | 7.8% | 8.8% | ||
| Q3 25 | 2.6% | 5.0% | ||
| Q2 25 | 2.1% | 5.2% | ||
| Q1 25 | 1.6% | 5.4% | ||
| Q4 24 | 9.6% | 2.5% | ||
| Q3 24 | 2.2% | 5.3% | ||
| Q2 24 | 1.5% | 3.5% | ||
| Q1 24 | 2.2% | 13.2% |
| Q4 25 | 2.94× | 14.22× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.94× | 4.73× | ||
| Q1 25 | 0.64× | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 1.13× | 1.57× | ||
| Q1 24 | 0.47× | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
