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Side-by-side financial comparison of Hillman Solutions Corp. (HLMN) and PicoCELA Inc. (PCLA). Click either name above to swap in a different company.
Hillman Solutions Corp. is the larger business by last-quarter revenue ($370.1M vs $252.6M, roughly 1.5× PicoCELA Inc.). Hillman Solutions Corp. runs the higher net margin — -1.3% vs -125.2%, a 123.9% gap on every dollar of revenue. Hillman Solutions Corp. produced more free cash flow last quarter ($-34.3M vs $-256.6M).
Hillman Solutions is an American hardware manufacturing, distribution and consumer fabrication services company.
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
HLMN vs PCLA — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $370.1M | $252.6M |
| Net Profit | $-4.7M | $-316.2M |
| Gross Margin | — | — |
| Operating Margin | 1.9% | -114.8% |
| Net Margin | -1.3% | -125.2% |
| Revenue YoY | 3.0% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.02 | — |
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.
| Q1 26 | $370.1M | — | ||
| Q4 25 | $365.1M | — | ||
| Q3 25 | $424.9M | — | ||
| Q2 25 | $402.8M | — | ||
| Q1 25 | $359.3M | $252.6M | ||
| Q4 24 | $349.6M | — | ||
| Q3 24 | $393.3M | — | ||
| Q2 24 | $379.4M | — |
| Q1 26 | $-4.7M | — | ||
| Q4 25 | $1.6M | — | ||
| Q3 25 | $23.2M | — | ||
| Q2 25 | $15.8M | — | ||
| Q1 25 | $-317.0K | $-316.2M | ||
| Q4 24 | $-1.2M | — | ||
| Q3 24 | $7.4M | — | ||
| Q2 24 | $12.5M | — |
| Q1 26 | 1.9% | — | ||
| Q4 25 | 4.6% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | 4.2% | -114.8% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 6.8% | — | ||
| Q2 24 | 8.3% | — |
| Q1 26 | -1.3% | — | ||
| Q4 25 | 0.4% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | -0.1% | -125.2% | ||
| Q4 24 | -0.3% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 3.3% | — |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.00 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.08 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.00 | — | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $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 | $27.7M | $456.8M |
| Total DebtLower is stronger | $714.1M | — |
| Stockholders' EquityBook value | $1.2B | $354.8M |
| Total Assets | $2.4B | $1.2B |
| Debt / EquityLower = less leverage | 0.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $27.7M | — | ||
| Q4 25 | $27.3M | — | ||
| Q3 25 | $37.7M | — | ||
| Q2 25 | $34.2M | — | ||
| Q1 25 | $36.3M | $456.8M | ||
| Q4 24 | $44.5M | — | ||
| Q3 24 | $59.8M | — | ||
| Q2 24 | $54.0M | — |
| Q1 26 | $714.1M | — | ||
| Q4 25 | $668.3M | — | ||
| Q3 25 | $683.2M | — | ||
| Q2 25 | $683.1M | — | ||
| Q1 25 | $713.5M | — | ||
| Q4 24 | $691.7M | — | ||
| Q3 24 | $730.7M | — | ||
| Q2 24 | $732.1M | — |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | $354.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — |
| Q1 26 | 0.59× | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | — | $-245.6M |
| Free Cash FlowOCF − Capex | $-34.3M | $-256.6M |
| FCF MarginFCF / Revenue | -9.3% | -101.6% |
| Capex IntensityCapex / Revenue | 4.0% | 4.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $22.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.9M | — | ||
| Q3 25 | $26.2M | — | ||
| Q2 25 | $48.7M | — | ||
| Q1 25 | $-655.0K | $-245.6M | ||
| Q4 24 | $43.1M | — | ||
| Q3 24 | $63.7M | — | ||
| Q2 24 | $64.8M | — |
| Q1 26 | $-34.3M | — | ||
| Q4 25 | $16.1M | — | ||
| Q3 25 | $9.1M | — | ||
| Q2 25 | $31.2M | — | ||
| Q1 25 | $-21.3M | $-256.6M | ||
| Q4 24 | $22.1M | — | ||
| Q3 24 | $39.6M | — | ||
| Q2 24 | $42.5M | — |
| Q1 26 | -9.3% | — | ||
| Q4 25 | 4.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | -5.9% | -101.6% | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 11.2% | — |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | 4.0% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 5.7% | 4.3% | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | 5.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 19.33× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 3.08× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.57× | — | ||
| Q2 24 | 5.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLMN
Segment breakdown not available.
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
