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Side-by-side financial comparison of H2O AMERICA (HTO) and MASIMO CORP (MASI). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $199.4M, roughly 1.9× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs -27.0%, a 35.2% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -26.4%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -17.7%).
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.
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
HTO vs MASI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $371.5M |
| Net Profit | $16.2M | $-100.4M |
| Gross Margin | — | 62.1% |
| Operating Margin | 16.6% | 22.5% |
| Net Margin | 8.1% | -27.0% |
| Revenue YoY | 1.5% | -26.4% |
| Net Profit YoY | -29.2% | -1124.5% |
| EPS (diluted) | $0.45 | $-1.84 |
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 | — | ||
| Q3 25 | $243.5M | $371.5M | ||
| Q2 25 | $197.8M | $370.9M | ||
| Q1 25 | $164.9M | $372.0M | ||
| Q4 24 | $196.5M | $600.7M | ||
| Q3 24 | $216.7M | $504.6M | ||
| Q2 24 | $173.1M | $496.3M | ||
| Q1 24 | $150.0M | $492.8M |
| Q4 25 | $16.2M | — | ||
| Q3 25 | $45.1M | $-100.4M | ||
| Q2 25 | $24.7M | $51.3M | ||
| Q1 25 | $16.6M | $-170.7M | ||
| Q4 24 | $22.9M | $-349.6M | ||
| Q3 24 | $38.7M | $9.8M | ||
| Q2 24 | $20.7M | $16.0M | ||
| Q1 24 | $11.7M | $18.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 62.1% | ||
| Q2 25 | — | 62.9% | ||
| Q1 25 | — | 62.9% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 51.3% | ||
| Q1 24 | — | 49.0% |
| Q4 25 | 16.6% | — | ||
| Q3 25 | 26.5% | 22.5% | ||
| Q2 25 | 22.2% | 17.4% | ||
| Q1 25 | 21.8% | 21.0% | ||
| Q4 24 | 22.2% | -59.8% | ||
| Q3 24 | 26.9% | 6.0% | ||
| Q2 24 | 23.4% | 5.7% | ||
| Q1 24 | 18.6% | 6.9% |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 18.5% | -27.0% | ||
| Q2 25 | 12.5% | 13.8% | ||
| Q1 25 | 10.0% | -45.9% | ||
| Q4 24 | 11.7% | -58.2% | ||
| Q3 24 | 17.8% | 1.9% | ||
| Q2 24 | 12.0% | 3.2% | ||
| Q1 24 | 7.8% | 3.8% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $1.27 | $-1.84 | ||
| Q2 25 | $0.71 | $0.94 | ||
| Q1 25 | $0.49 | $-3.12 | ||
| Q4 24 | $0.70 | $-6.54 | ||
| Q3 24 | $1.17 | $0.18 | ||
| Q2 24 | $0.64 | $0.29 | ||
| 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 | $312.3M |
| Total DebtLower is stronger | $1.9B | $559.1M |
| Stockholders' EquityBook value | $1.5B | $810.0M |
| Total Assets | $5.1B | $1.8B |
| Debt / EquityLower = less leverage | 1.23× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | — | ||
| Q3 25 | $11.3M | $312.3M | ||
| Q2 25 | $19.8M | $149.6M | ||
| Q1 25 | $23.7M | $130.8M | ||
| Q4 24 | $11.1M | $177.6M | ||
| Q3 24 | $4.0M | $158.5M | ||
| Q2 24 | $22.8M | $129.6M | ||
| Q1 24 | $4.5M | $157.6M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | $559.1M | ||
| Q2 25 | — | $613.7M | ||
| Q1 25 | — | $651.0M | ||
| Q4 24 | $1.7B | $765.2M | ||
| Q3 24 | — | $772.6M | ||
| Q2 24 | — | $781.6M | ||
| Q1 24 | — | $876.0M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $810.0M | ||
| Q2 25 | $1.5B | $1.0B | ||
| Q1 25 | $1.4B | $946.4M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $1.2B | $1.4B |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $1.8B | ||
| Q2 25 | $4.8B | $2.4B | ||
| Q1 25 | $4.7B | $2.3B | ||
| Q4 24 | $4.7B | $2.6B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.4B | $2.9B | ||
| Q1 24 | $4.4B | $3.0B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 1.26× | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.64× |
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 | $56.8M |
| Free Cash FlowOCF − Capex | — | $50.9M |
| FCF MarginFCF / Revenue | — | 13.7% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | — | ||
| Q3 25 | $77.3M | $56.8M | ||
| Q2 25 | $60.8M | $69.4M | ||
| Q1 25 | $43.2M | $31.1M | ||
| Q4 24 | $41.5M | $50.5M | ||
| Q3 24 | $53.5M | $25.6M | ||
| Q2 24 | $49.3M | $74.5M | ||
| Q1 24 | $51.2M | $45.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | $50.9M | ||
| Q2 25 | — | $65.6M | ||
| Q1 25 | — | $28.5M | ||
| Q4 24 | — | $46.0M | ||
| Q3 24 | — | $16.9M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $37.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 17.7% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | 1.35× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | 2.61× | ||
| Q2 24 | 2.38× | 4.66× | ||
| Q1 24 | 4.38× | 2.42× |
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% |
MASI
Segment breakdown not available.
