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Side-by-side financial comparison of Hamilton Lane INC (HLNE) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
Hamilton Lane INC is the larger business by last-quarter revenue ($198.6M vs $124.7M, roughly 1.6× SMITH & WESSON BRANDS, INC.). Hamilton Lane INC runs the higher net margin — 29.4% vs 1.5%, a 27.9% gap on every dollar of revenue. On growth, Hamilton Lane INC posted the faster year-over-year revenue change (18.0% vs -3.9%). Hamilton Lane INC produced more free cash flow last quarter ($72.4M vs $16.3M). Over the past eight quarters, Hamilton Lane INC's revenue compounded faster (6.0% CAGR vs -4.8%).
Hamilton Lane Incorporated is an American alternative investment management and advisory company headquartered in Conshohocken, Pennsylvania. The company provides private markets investments to its clients.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
HLNE vs SWBI — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $198.6M | $124.7M |
| Net Profit | $58.4M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 60.5% | 3.3% |
| Net Margin | 29.4% | 1.5% |
| Revenue YoY | 18.0% | -3.9% |
| Net Profit YoY | 10.2% | -53.6% |
| EPS (diluted) | — | $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 | $198.6M | $124.7M | ||
| Q3 25 | $190.9M | $85.1M | ||
| Q2 25 | $176.0M | $140.8M | ||
| Q1 25 | $198.0M | $115.9M | ||
| Q4 24 | $168.3M | $129.7M | ||
| Q3 24 | $150.0M | $88.3M | ||
| Q2 24 | $196.7M | $159.1M | ||
| Q1 24 | $176.7M | $137.5M |
| Q4 25 | $58.4M | $1.9M | ||
| Q3 25 | $70.9M | $-3.4M | ||
| Q2 25 | $53.7M | $8.6M | ||
| Q1 25 | $50.5M | $2.1M | ||
| Q4 24 | $53.0M | $4.5M | ||
| Q3 24 | $55.0M | $-1.9M | ||
| Q2 24 | $59.0M | $27.9M | ||
| Q1 24 | $48.4M | $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 | 60.5% | 3.3% | ||
| Q3 25 | 61.6% | -3.5% | ||
| Q2 25 | 54.2% | 9.3% | ||
| Q1 25 | 44.6% | 4.1% | ||
| Q4 24 | 53.6% | 5.8% | ||
| Q3 24 | 51.4% | -1.7% | ||
| Q2 24 | 54.3% | 17.4% | ||
| Q1 24 | 55.0% | 8.2% |
| Q4 25 | 29.4% | 1.5% | ||
| Q3 25 | 37.1% | -4.0% | ||
| Q2 25 | 30.5% | 6.1% | ||
| Q1 25 | 25.5% | 1.8% | ||
| Q4 24 | 31.5% | 3.5% | ||
| Q3 24 | 36.7% | -2.1% | ||
| Q2 24 | 30.0% | 17.5% | ||
| Q1 24 | 27.4% | 5.7% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | $0.19 | ||
| Q1 25 | — | $0.05 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $0.60 | ||
| Q1 24 | — | $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 | — | $22.4M |
| Total DebtLower is stronger | $279.5M | — |
| Stockholders' EquityBook value | $877.4M | $363.2M |
| Total Assets | $2.2B | $548.6M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $22.4M | ||
| Q3 25 | — | $18.0M | ||
| Q2 25 | — | $25.2M | ||
| Q1 25 | — | $26.7M | ||
| Q4 24 | — | $39.1M | ||
| Q3 24 | — | $35.5M | ||
| Q2 24 | — | $60.8M | ||
| Q1 24 | — | $47.4M |
| Q4 25 | $279.5M | — | ||
| Q3 25 | $285.6M | — | ||
| Q2 25 | $288.6M | — | ||
| Q1 25 | $290.3M | — | ||
| Q4 24 | $292.0M | — | ||
| Q3 24 | $195.0M | — | ||
| Q2 24 | $195.6M | — | ||
| Q1 24 | $196.2M | — |
| Q4 25 | $877.4M | $363.2M | ||
| Q3 25 | $825.8M | $364.4M | ||
| Q2 25 | $758.8M | $372.5M | ||
| Q1 25 | $717.3M | $366.9M | ||
| Q4 24 | $649.3M | $371.5M | ||
| Q3 24 | $606.6M | $380.0M | ||
| Q2 24 | $566.4M | $399.9M | ||
| Q1 24 | $525.2M | $376.4M |
| Q4 25 | $2.2B | $548.6M | ||
| Q3 25 | $2.0B | $554.6M | ||
| Q2 25 | $1.8B | $559.6M | ||
| Q1 25 | $1.7B | $578.9M | ||
| Q4 24 | $1.6B | $587.4M | ||
| Q3 24 | $1.4B | $571.3M | ||
| Q2 24 | $1.4B | $577.4M | ||
| Q1 24 | $1.3B | $570.6M |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.37× | — |
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 | $74.1M | $27.3M |
| Free Cash FlowOCF − Capex | $72.4M | $16.3M |
| FCF MarginFCF / Revenue | 36.5% | 13.1% |
| Capex IntensityCapex / Revenue | 0.8% | 8.8% |
| Cash ConversionOCF / Net Profit | 1.27× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $606.5M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.1M | $27.3M | ||
| Q3 25 | $118.9M | $-8.1M | ||
| Q2 25 | $128.9M | $40.8M | ||
| Q1 25 | $300.8M | $-9.8M | ||
| Q4 24 | $64.4M | $-7.4M | ||
| Q3 24 | $117.4M | $-30.8M | ||
| Q2 24 | $79.7M | $43.7M | ||
| Q1 24 | $120.9M | $25.2M |
| Q4 25 | $72.4M | $16.3M | ||
| Q3 25 | $117.8M | $-12.4M | ||
| Q2 25 | $127.6M | $33.5M | ||
| Q1 25 | $288.7M | $-16.1M | ||
| Q4 24 | $58.8M | $-10.7M | ||
| Q3 24 | $115.8M | $-35.5M | ||
| Q2 24 | $78.2M | $38.2M | ||
| Q1 24 | $109.8M | $7.0M |
| Q4 25 | 36.5% | 13.1% | ||
| Q3 25 | 61.7% | -14.6% | ||
| Q2 25 | 72.5% | 23.8% | ||
| Q1 25 | 145.8% | -13.9% | ||
| Q4 24 | 34.9% | -8.3% | ||
| Q3 24 | 77.2% | -40.2% | ||
| Q2 24 | 39.8% | 24.0% | ||
| Q1 24 | 62.1% | 5.1% |
| Q4 25 | 0.8% | 8.8% | ||
| Q3 25 | 0.6% | 5.0% | ||
| Q2 25 | 0.8% | 5.2% | ||
| Q1 25 | 6.1% | 5.4% | ||
| Q4 24 | 3.3% | 2.5% | ||
| Q3 24 | 1.0% | 5.3% | ||
| Q2 24 | 0.8% | 3.5% | ||
| Q1 24 | 6.3% | 13.2% |
| Q4 25 | 1.27× | 14.22× | ||
| Q3 25 | 1.68× | — | ||
| Q2 25 | 2.40× | 4.73× | ||
| Q1 25 | 5.96× | -4.68× | ||
| Q4 24 | 1.22× | -1.63× | ||
| Q3 24 | 2.14× | — | ||
| Q2 24 | 1.35× | 1.57× | ||
| Q1 24 | 2.50× | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLNE
| Management And Advisory Fee Revenue Specialized Funds | $98.5M | 50% |
| Incentive Fee Revenue Specialized Funds | $39.4M | 20% |
| Management And Advisory Fee Revenue Customized Separate Accounts | $36.1M | 18% |
| Management And Advisory Fee Revenue Reporting And Other | $9.3M | 5% |
| Incentive Fee Revenue Customized Separate Accounts | $5.9M | 3% |
| Management And Advisory Fee Revenue Advisory | $4.8M | 2% |
| Management And Advisory Fee Revenue Fund Reimbursement Revenue | $3.9M | 2% |
SWBI
Segment breakdown not available.
