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Side-by-side financial comparison of HCI Group, Inc. (HCI) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $153.1M, roughly 1.6× CPI Card Group Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 4.8%, 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 22.3%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $35.2M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
HCI vs PMTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $153.1M |
| Net Profit | $97.7M | $7.3M |
| Gross Margin | — | 31.5% |
| Operating Margin | 58.5% | 12.0% |
| Net Margin | 39.7% | 4.8% |
| Revenue YoY | 52.1% | 22.3% |
| Net Profit YoY | 3679.2% | 8.5% |
| EPS (diluted) | $7.29 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $216.3M | $138.0M | ||
| Q2 25 | $221.9M | $129.8M | ||
| Q1 25 | $216.4M | $122.8M | ||
| Q4 24 | $161.9M | $125.1M | ||
| Q3 24 | $175.3M | $124.8M | ||
| Q2 24 | $206.2M | $118.8M | ||
| Q1 24 | $206.6M | $111.9M |
| Q4 25 | $97.7M | $7.3M | ||
| Q3 25 | $65.5M | $2.3M | ||
| Q2 25 | $66.2M | $518.0K | ||
| Q1 25 | $69.7M | $4.8M | ||
| Q4 24 | $2.6M | $6.8M | ||
| Q3 24 | $5.7M | $1.3M | ||
| Q2 24 | $54.1M | $6.0M | ||
| Q1 24 | $47.6M | $5.5M |
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 37.1% |
| Q4 25 | 58.5% | 12.0% | ||
| Q3 25 | 41.9% | 9.4% | ||
| Q2 25 | 42.5% | 7.3% | ||
| Q1 25 | 46.4% | 11.5% | ||
| Q4 24 | 3.6% | 12.7% | ||
| Q3 24 | 8.0% | 14.3% | ||
| Q2 24 | 36.9% | 12.5% | ||
| Q1 24 | 37.5% | 12.6% |
| Q4 25 | 39.7% | 4.8% | ||
| Q3 25 | 30.3% | 1.7% | ||
| Q2 25 | 29.8% | 0.4% | ||
| Q1 25 | 32.2% | 3.9% | ||
| Q4 24 | 1.6% | 5.4% | ||
| Q3 24 | 3.2% | 1.0% | ||
| Q2 24 | 26.2% | 5.1% | ||
| Q1 24 | 23.0% | 4.9% |
| Q4 25 | $7.29 | $0.62 | ||
| Q3 25 | $4.90 | $0.19 | ||
| Q2 25 | $5.18 | $0.04 | ||
| Q1 25 | $5.35 | $0.40 | ||
| Q4 24 | $0.32 | $0.56 | ||
| Q3 24 | $0.52 | $0.11 | ||
| Q2 24 | $4.24 | $0.51 | ||
| Q1 24 | $3.81 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | — | $286.7M |
| Stockholders' EquityBook value | $1.0B | $-17.3M |
| Total Assets | $2.5B | $403.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $21.7M | ||
| Q3 25 | $987.9M | $16.0M | ||
| Q2 25 | $947.2M | $17.1M | ||
| Q1 25 | $754.5M | $31.5M | ||
| Q4 24 | $532.5M | $33.5M | ||
| Q3 24 | $518.8M | $14.7M | ||
| Q2 24 | $445.8M | $7.5M | ||
| Q1 24 | $655.4M | $17.1M |
| Q4 25 | — | $286.7M | ||
| Q3 25 | — | $308.4M | ||
| Q2 25 | — | $310.9M | ||
| Q1 25 | — | $280.7M | ||
| Q4 24 | — | $280.4M | ||
| Q3 24 | — | $280.2M | ||
| Q2 24 | — | $269.7M | ||
| Q1 24 | — | $265.3M |
| Q4 25 | $1.0B | $-17.3M | ||
| Q3 25 | $821.8M | $-25.7M | ||
| Q2 25 | $758.6M | $-29.0M | ||
| Q1 25 | $522.7M | $-29.7M | ||
| Q4 24 | $453.3M | $-35.6M | ||
| Q3 24 | $455.3M | $-42.8M | ||
| Q2 24 | $447.3M | $-44.6M | ||
| Q1 24 | $395.7M | $-48.5M |
| Q4 25 | $2.5B | $403.2M | ||
| Q3 25 | $2.3B | $407.1M | ||
| Q2 25 | $2.4B | $399.8M | ||
| Q1 25 | $2.3B | $351.9M | ||
| Q4 24 | $2.2B | $349.7M | ||
| Q3 24 | $2.0B | $342.3M | ||
| Q2 24 | $1.9B | $321.4M | ||
| Q1 24 | $1.8B | $319.8M |
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 | $39.6M |
| Free Cash FlowOCF − Capex | $440.8M | $35.2M |
| FCF MarginFCF / Revenue | 179.0% | 23.0% |
| Capex IntensityCapex / Revenue | 1.5% | 2.9% |
| Cash ConversionOCF / Net Profit | 4.55× | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $39.6M | ||
| Q3 25 | $26.7M | $10.0M | ||
| Q2 25 | $145.0M | $4.3M | ||
| Q1 25 | $162.0M | $5.6M | ||
| Q4 24 | $331.8M | $26.7M | ||
| Q3 24 | $104.1M | $12.5M | ||
| Q2 24 | $-29.0M | $-4.8M | ||
| Q1 24 | $182.0M | $8.9M |
| Q4 25 | $440.8M | $35.2M | ||
| Q3 25 | $25.9M | $5.3M | ||
| Q2 25 | $144.5M | $533.0K | ||
| Q1 25 | $160.3M | $292.0K | ||
| Q4 24 | $327.8M | $21.6M | ||
| Q3 24 | $103.2M | $11.1M | ||
| Q2 24 | $-30.1M | $-6.0M | ||
| Q1 24 | $181.0M | $7.4M |
| Q4 25 | 179.0% | 23.0% | ||
| Q3 25 | 12.0% | 3.8% | ||
| Q2 25 | 65.1% | 0.4% | ||
| Q1 25 | 74.1% | 0.2% | ||
| Q4 24 | 202.5% | 17.3% | ||
| Q3 24 | 58.9% | 8.9% | ||
| Q2 24 | -14.6% | -5.0% | ||
| Q1 24 | 87.6% | 6.6% |
| Q4 25 | 1.5% | 2.9% | ||
| Q3 25 | 0.4% | 3.4% | ||
| Q2 25 | 0.2% | 2.9% | ||
| Q1 25 | 0.8% | 4.3% | ||
| Q4 24 | 2.5% | 4.0% | ||
| Q3 24 | 0.5% | 1.2% | ||
| Q2 24 | 0.5% | 1.0% | ||
| Q1 24 | 0.5% | 1.3% |
| Q4 25 | 4.55× | 5.39× | ||
| Q3 25 | 0.41× | 4.32× | ||
| Q2 25 | 2.19× | 8.39× | ||
| Q1 25 | 2.32× | 1.17× | ||
| Q4 24 | 128.41× | 3.94× | ||
| Q3 24 | 18.33× | 9.70× | ||
| Q2 24 | -0.54× | -0.79× | ||
| Q1 24 | 3.82× | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
