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Side-by-side financial comparison of H2O AMERICA (HTO) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $159.9M, roughly 1.2× INSTEEL INDUSTRIES INC). H2O AMERICA runs the higher net margin — 8.1% vs 4.7%, a 3.4% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 12.0%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $159.9M |
| Net Profit | $16.2M | $7.6M |
| Gross Margin | — | 11.3% |
| Operating Margin | 16.6% | 6.0% |
| Net Margin | 8.1% | 4.7% |
| Revenue YoY | 1.5% | 23.3% |
| Net Profit YoY | -29.2% | 602.4% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $159.9M | ||
| Q3 25 | $243.5M | $177.4M | ||
| Q2 25 | $197.8M | $179.9M | ||
| Q1 25 | $164.9M | $160.7M | ||
| Q4 24 | $196.5M | $129.7M | ||
| Q3 24 | $216.7M | $134.3M | ||
| Q2 24 | $173.1M | $145.8M | ||
| Q1 24 | $150.0M | $127.4M |
| Q4 25 | $16.2M | $7.6M | ||
| Q3 25 | $45.1M | $14.6M | ||
| Q2 25 | $24.7M | $15.2M | ||
| Q1 25 | $16.6M | $10.2M | ||
| Q4 24 | $22.9M | $1.1M | ||
| Q3 24 | $38.7M | $4.7M | ||
| Q2 24 | $20.7M | $6.6M | ||
| Q1 24 | $11.7M | $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 | 16.6% | 6.0% | ||
| Q3 25 | 26.5% | 10.8% | ||
| Q2 25 | 22.2% | 11.0% | ||
| Q1 25 | 21.8% | 8.3% | ||
| Q4 24 | 22.2% | 1.1% | ||
| Q3 24 | 26.9% | 4.5% | ||
| Q2 24 | 23.4% | 6.0% | ||
| Q1 24 | 18.6% | 7.0% |
| Q4 25 | 8.1% | 4.7% | ||
| Q3 25 | 18.5% | 8.2% | ||
| Q2 25 | 12.5% | 8.4% | ||
| Q1 25 | 10.0% | 6.4% | ||
| Q4 24 | 11.7% | 0.8% | ||
| Q3 24 | 17.8% | 3.5% | ||
| Q2 24 | 12.0% | 4.5% | ||
| Q1 24 | 7.8% | 5.4% |
| Q4 25 | $0.45 | $0.39 | ||
| Q3 25 | $1.27 | $0.74 | ||
| Q2 25 | $0.71 | $0.78 | ||
| Q1 25 | $0.49 | $0.52 | ||
| Q4 24 | $0.70 | $0.06 | ||
| Q3 24 | $1.17 | $0.24 | ||
| Q2 24 | $0.64 | $0.34 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $15.6M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $358.8M |
| Total Assets | $5.1B | $456.1M |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $15.6M | ||
| Q3 25 | $11.3M | $38.6M | ||
| Q2 25 | $19.8M | $53.7M | ||
| Q1 25 | $23.7M | $28.4M | ||
| Q4 24 | $11.1M | $36.0M | ||
| Q3 24 | $4.0M | $111.5M | ||
| Q2 24 | $22.8M | $97.7M | ||
| Q1 24 | $4.5M | $83.9M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $358.8M | ||
| Q3 25 | $1.5B | $371.5M | ||
| Q2 25 | $1.5B | $356.2M | ||
| Q1 25 | $1.4B | $341.4M | ||
| Q4 24 | $1.4B | $331.6M | ||
| Q3 24 | $1.3B | $350.9M | ||
| Q2 24 | $1.3B | $346.0M | ||
| Q1 24 | $1.2B | $340.6M |
| Q4 25 | $5.1B | $456.1M | ||
| Q3 25 | $5.0B | $462.6M | ||
| Q2 25 | $4.8B | $471.9M | ||
| Q1 25 | $4.7B | $421.9M | ||
| Q4 24 | $4.7B | $404.7M | ||
| Q3 24 | $4.6B | $422.6M | ||
| Q2 24 | $4.4B | $414.6M | ||
| Q1 24 | $4.4B | $397.2M |
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $63.5M | $-701.0K |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -1.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | 3.92× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | — | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $-701.0K | ||
| Q3 25 | $77.3M | $-17.0M | ||
| Q2 25 | $60.8M | $28.5M | ||
| Q1 25 | $43.2M | $-3.3M | ||
| Q4 24 | $41.5M | $19.0M | ||
| Q3 24 | $53.5M | $16.2M | ||
| Q2 24 | $49.3M | $18.8M | ||
| Q1 24 | $51.2M | $1.4M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $-18.7M | ||
| Q2 25 | — | $26.9M | ||
| Q1 25 | — | $-5.5M | ||
| Q4 24 | — | $16.3M | ||
| Q3 24 | — | $14.5M | ||
| Q2 24 | — | $15.5M | ||
| Q1 24 | — | $-580.0K |
| Q4 25 | — | -1.4% | ||
| Q3 25 | — | -10.6% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 10.7% | ||
| Q1 24 | — | -0.5% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | 3.92× | -0.09× | ||
| Q3 25 | 1.71× | -1.17× | ||
| Q2 25 | 2.47× | 1.88× | ||
| Q1 25 | 2.61× | -0.32× | ||
| Q4 24 | 1.81× | 17.56× | ||
| Q3 24 | 1.39× | 3.48× | ||
| Q2 24 | 2.38× | 2.86× | ||
| Q1 24 | 4.38× | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
