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Side-by-side financial comparison of HCI Group, Inc. (HCI) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $159.9M, roughly 1.5× INSTEEL INDUSTRIES INC). HCI Group, Inc. runs the higher net margin — 39.7% vs 4.7%, a 34.9% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 23.3%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
HCI vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $159.9M |
| Net Profit | $97.7M | $7.6M |
| Gross Margin | — | 11.3% |
| Operating Margin | 58.5% | 6.0% |
| Net Margin | 39.7% | 4.7% |
| Revenue YoY | 52.1% | 23.3% |
| Net Profit YoY | 3679.2% | 602.4% |
| EPS (diluted) | $7.29 | $0.39 |
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 | $246.2M | $159.9M | ||
| Q3 25 | $216.3M | $177.4M | ||
| Q2 25 | $221.9M | $179.9M | ||
| Q1 25 | $216.4M | $160.7M | ||
| Q4 24 | $161.9M | $129.7M | ||
| Q3 24 | $175.3M | $134.3M | ||
| Q2 24 | $206.2M | $145.8M | ||
| Q1 24 | $206.6M | $127.4M |
| Q4 25 | $97.7M | $7.6M | ||
| Q3 25 | $65.5M | $14.6M | ||
| Q2 25 | $66.2M | $15.2M | ||
| Q1 25 | $69.7M | $10.2M | ||
| Q4 24 | $2.6M | $1.1M | ||
| Q3 24 | $5.7M | $4.7M | ||
| Q2 24 | $54.1M | $6.6M | ||
| Q1 24 | $47.6M | $6.9M |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 10.6% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | 58.5% | 6.0% | ||
| Q3 25 | 41.9% | 10.8% | ||
| Q2 25 | 42.5% | 11.0% | ||
| Q1 25 | 46.4% | 8.3% | ||
| Q4 24 | 3.6% | 1.1% | ||
| Q3 24 | 8.0% | 4.5% | ||
| Q2 24 | 36.9% | 6.0% | ||
| Q1 24 | 37.5% | 7.0% |
| Q4 25 | 39.7% | 4.7% | ||
| Q3 25 | 30.3% | 8.2% | ||
| Q2 25 | 29.8% | 8.4% | ||
| Q1 25 | 32.2% | 6.4% | ||
| Q4 24 | 1.6% | 0.8% | ||
| Q3 24 | 3.2% | 3.5% | ||
| Q2 24 | 26.2% | 4.5% | ||
| Q1 24 | 23.0% | 5.4% |
| Q4 25 | $7.29 | $0.39 | ||
| Q3 25 | $4.90 | $0.74 | ||
| Q2 25 | $5.18 | $0.78 | ||
| Q1 25 | $5.35 | $0.52 | ||
| Q4 24 | $0.32 | $0.06 | ||
| Q3 24 | $0.52 | $0.24 | ||
| Q2 24 | $4.24 | $0.34 | ||
| Q1 24 | $3.81 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $15.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $358.8M |
| Total Assets | $2.5B | $456.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $15.6M | ||
| Q3 25 | $987.9M | $38.6M | ||
| Q2 25 | $947.2M | $53.7M | ||
| Q1 25 | $754.5M | $28.4M | ||
| Q4 24 | $532.5M | $36.0M | ||
| Q3 24 | $518.8M | $111.5M | ||
| Q2 24 | $445.8M | $97.7M | ||
| Q1 24 | $655.4M | $83.9M |
| Q4 25 | $1.0B | $358.8M | ||
| Q3 25 | $821.8M | $371.5M | ||
| Q2 25 | $758.6M | $356.2M | ||
| Q1 25 | $522.7M | $341.4M | ||
| Q4 24 | $453.3M | $331.6M | ||
| Q3 24 | $455.3M | $350.9M | ||
| Q2 24 | $447.3M | $346.0M | ||
| Q1 24 | $395.7M | $340.6M |
| Q4 25 | $2.5B | $456.1M | ||
| Q3 25 | $2.3B | $462.6M | ||
| Q2 25 | $2.4B | $471.9M | ||
| Q1 25 | $2.3B | $421.9M | ||
| Q4 24 | $2.2B | $404.7M | ||
| Q3 24 | $2.0B | $422.6M | ||
| Q2 24 | $1.9B | $414.6M | ||
| Q1 24 | $1.8B | $397.2M |
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 | $444.4M | $-701.0K |
| Free Cash FlowOCF − Capex | $440.8M | $-2.2M |
| FCF MarginFCF / Revenue | 179.0% | -1.4% |
| Capex IntensityCapex / Revenue | 1.5% | 0.9% |
| Cash ConversionOCF / Net Profit | 4.55× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $-701.0K | ||
| Q3 25 | $26.7M | $-17.0M | ||
| Q2 25 | $145.0M | $28.5M | ||
| Q1 25 | $162.0M | $-3.3M | ||
| Q4 24 | $331.8M | $19.0M | ||
| Q3 24 | $104.1M | $16.2M | ||
| Q2 24 | $-29.0M | $18.8M | ||
| Q1 24 | $182.0M | $1.4M |
| Q4 25 | $440.8M | $-2.2M | ||
| Q3 25 | $25.9M | $-18.7M | ||
| Q2 25 | $144.5M | $26.9M | ||
| Q1 25 | $160.3M | $-5.5M | ||
| Q4 24 | $327.8M | $16.3M | ||
| Q3 24 | $103.2M | $14.5M | ||
| Q2 24 | $-30.1M | $15.5M | ||
| Q1 24 | $181.0M | $-580.0K |
| Q4 25 | 179.0% | -1.4% | ||
| Q3 25 | 12.0% | -10.6% | ||
| Q2 25 | 65.1% | 15.0% | ||
| Q1 25 | 74.1% | -3.5% | ||
| Q4 24 | 202.5% | 12.6% | ||
| Q3 24 | 58.9% | 10.8% | ||
| Q2 24 | -14.6% | 10.7% | ||
| Q1 24 | 87.6% | -0.5% |
| Q4 25 | 1.5% | 0.9% | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.8% | 1.4% | ||
| Q4 24 | 2.5% | 2.1% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 0.5% | 2.2% | ||
| Q1 24 | 0.5% | 1.5% |
| Q4 25 | 4.55× | -0.09× | ||
| Q3 25 | 0.41× | -1.17× | ||
| Q2 25 | 2.19× | 1.88× | ||
| Q1 25 | 2.32× | -0.32× | ||
| Q4 24 | 128.41× | 17.56× | ||
| Q3 24 | 18.33× | 3.48× | ||
| Q2 24 | -0.54× | 2.86× | ||
| Q1 24 | 3.82× | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
