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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $63.5M, roughly 1.6× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -7.0%, a 49.4% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 14.5%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $14.1M). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
HBNC vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $100.0M |
| Net Profit | $26.9M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 51.5% | -10.7% |
| Net Margin | 42.4% | -7.0% |
| Revenue YoY | 19.5% | 14.5% |
| Net Profit YoY | 347.4% | 76.0% |
| EPS (diluted) | $0.44 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $58.4M | $161.9M | ||
| Q2 25 | $66.3M | $172.6M | ||
| Q1 25 | $68.8M | $111.4M | ||
| Q4 24 | $53.1M | $87.3M | ||
| Q3 24 | $58.4M | $150.5M | ||
| Q2 24 | $55.8M | $160.1M | ||
| Q1 24 | $53.2M | $110.6M |
| Q4 25 | $26.9M | $-7.0M | ||
| Q3 25 | $-222.0M | $8.1M | ||
| Q2 25 | $20.6M | $16.0M | ||
| Q1 25 | $23.9M | $-6.0M | ||
| Q4 24 | $-10.9M | $-29.2M | ||
| Q3 24 | $18.2M | $5.9M | ||
| Q2 24 | $14.1M | $13.3M | ||
| Q1 24 | $14.0M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 51.5% | -10.7% | ||
| Q3 25 | -490.4% | 13.3% | ||
| Q2 25 | 36.8% | 14.3% | ||
| Q1 25 | 40.8% | -4.4% | ||
| Q4 24 | -41.3% | -14.9% | ||
| Q3 24 | 31.0% | 8.9% | ||
| Q2 24 | 28.5% | 12.5% | ||
| Q1 24 | 28.8% | -1.9% |
| Q4 25 | 42.4% | -7.0% | ||
| Q3 25 | -380.2% | 5.0% | ||
| Q2 25 | 31.1% | 9.3% | ||
| Q1 25 | 34.8% | -5.4% | ||
| Q4 24 | -20.5% | -33.4% | ||
| Q3 24 | 31.1% | 3.9% | ||
| Q2 24 | 25.4% | 8.3% | ||
| Q1 24 | 26.3% | -7.1% |
| Q4 25 | $0.44 | $-0.06 | ||
| Q3 25 | $-4.69 | $0.07 | ||
| Q2 25 | $0.47 | $0.13 | ||
| Q1 25 | $0.54 | $-0.05 | ||
| Q4 24 | $-0.25 | $-0.24 | ||
| Q3 24 | $0.41 | $0.05 | ||
| Q2 24 | $0.32 | $0.11 | ||
| Q1 24 | $0.32 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $248.6M | $279.8M |
| Stockholders' EquityBook value | $688.3M | $405.9M |
| Total Assets | $6.4B | $823.2M |
| Debt / EquityLower = less leverage | 0.36× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | — | ||
| Q3 25 | $458.3M | — | ||
| Q2 25 | $137.9M | — | ||
| Q1 25 | $169.7M | — | ||
| Q4 24 | $293.4M | — | ||
| Q3 24 | $234.8M | — | ||
| Q2 24 | $146.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | $248.6M | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | $1.2B | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $688.3M | $405.9M | ||
| Q3 25 | $660.8M | $408.4M | ||
| Q2 25 | $790.9M | $398.4M | ||
| Q1 25 | $776.1M | $381.1M | ||
| Q4 24 | $763.6M | $387.2M | ||
| Q3 24 | $754.8M | $416.6M | ||
| Q2 24 | $726.7M | $408.1M | ||
| Q1 24 | $721.3M | $391.8M |
| Q4 25 | $6.4B | $823.2M | ||
| Q3 25 | $6.7B | $844.4M | ||
| Q2 25 | $7.7B | $822.1M | ||
| Q1 25 | $7.6B | $824.6M | ||
| Q4 24 | $7.8B | $794.2M | ||
| Q3 24 | $7.9B | $853.4M | ||
| Q2 24 | $7.9B | $830.0M | ||
| Q1 24 | $7.9B | $808.6M |
| Q4 25 | 0.36× | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | 1.61× | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $14.1M |
| FCF MarginFCF / Revenue | 117.0% | 14.1% |
| Capex IntensityCapex / Revenue | 7.8% | 9.2% |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $23.3M | ||
| Q3 25 | $10.9M | $51.0M | ||
| Q2 25 | $19.5M | $36.0M | ||
| Q1 25 | $15.2M | $-46.9M | ||
| Q4 24 | $6.4M | $6.2M | ||
| Q3 24 | $32.3M | $37.2M | ||
| Q2 24 | $15.9M | $52.4M | ||
| Q1 24 | $6.5M | $-34.5M |
| Q4 25 | $74.3M | $14.1M | ||
| Q3 25 | $9.4M | $45.2M | ||
| Q2 25 | $18.1M | $29.1M | ||
| Q1 25 | $14.1M | $-50.3M | ||
| Q4 24 | $1.3M | $-98.0K | ||
| Q3 24 | $31.0M | $33.2M | ||
| Q2 24 | $15.1M | $47.9M | ||
| Q1 24 | $5.4M | $-39.9M |
| Q4 25 | 117.0% | 14.1% | ||
| Q3 25 | 16.1% | 27.9% | ||
| Q2 25 | 27.3% | 16.8% | ||
| Q1 25 | 20.5% | -45.2% | ||
| Q4 24 | 2.4% | -0.1% | ||
| Q3 24 | 53.1% | 22.1% | ||
| Q2 24 | 27.1% | 29.9% | ||
| Q1 24 | 10.1% | -36.0% |
| Q4 25 | 7.8% | 9.2% | ||
| Q3 25 | 2.6% | 3.6% | ||
| Q2 25 | 2.1% | 4.0% | ||
| Q1 25 | 1.6% | 3.1% | ||
| Q4 24 | 9.6% | 7.2% | ||
| Q3 24 | 2.2% | 2.7% | ||
| Q2 24 | 1.5% | 2.8% | ||
| Q1 24 | 2.2% | 4.8% |
| Q4 25 | 2.94× | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | 0.94× | 2.25× | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.78× | 6.32× | ||
| Q2 24 | 1.13× | 3.95× | ||
| 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.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
