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Side-by-side financial comparison of H2O AMERICA (HTO) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $175.3M, roughly 1.1× QUALYS, INC.). QUALYS, INC. runs the higher net margin — 30.3% vs 8.1%, a 22.2% gap on every dollar of revenue. On growth, QUALYS, INC. posted the faster year-over-year revenue change (10.1% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 9.6%).
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.
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
HTO vs QLYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $175.3M |
| Net Profit | $16.2M | $53.1M |
| Gross Margin | — | 83.4% |
| Operating Margin | 16.6% | 33.6% |
| Net Margin | 8.1% | 30.3% |
| Revenue YoY | 1.5% | 10.1% |
| Net Profit YoY | -29.2% | 20.9% |
| EPS (diluted) | $0.45 | $1.47 |
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 | $175.3M | ||
| Q3 25 | $243.5M | $169.9M | ||
| Q2 25 | $197.8M | $164.1M | ||
| Q1 25 | $164.9M | $159.9M | ||
| Q4 24 | $196.5M | $159.2M | ||
| Q3 24 | $216.7M | $153.9M | ||
| Q2 24 | $173.1M | $148.7M | ||
| Q1 24 | $150.0M | $145.8M |
| Q4 25 | $16.2M | $53.1M | ||
| Q3 25 | $45.1M | $50.3M | ||
| Q2 25 | $24.7M | $47.3M | ||
| Q1 25 | $16.6M | $47.5M | ||
| Q4 24 | $22.9M | $44.0M | ||
| Q3 24 | $38.7M | $46.2M | ||
| Q2 24 | $20.7M | $43.8M | ||
| Q1 24 | $11.7M | $39.7M |
| Q4 25 | — | 83.4% | ||
| Q3 25 | — | 83.6% | ||
| Q2 25 | — | 82.4% | ||
| Q1 25 | — | 81.9% | ||
| Q4 24 | — | 81.8% | ||
| Q3 24 | — | 81.3% | ||
| Q2 24 | — | 82.2% | ||
| Q1 24 | — | 81.3% |
| Q4 25 | 16.6% | 33.6% | ||
| Q3 25 | 26.5% | 35.3% | ||
| Q2 25 | 22.2% | 31.3% | ||
| Q1 25 | 21.8% | 32.4% | ||
| Q4 24 | 22.2% | 31.0% | ||
| Q3 24 | 26.9% | 29.2% | ||
| Q2 24 | 23.4% | 32.3% | ||
| Q1 24 | 18.6% | 30.7% |
| Q4 25 | 8.1% | 30.3% | ||
| Q3 25 | 18.5% | 29.6% | ||
| Q2 25 | 12.5% | 28.8% | ||
| Q1 25 | 10.0% | 29.7% | ||
| Q4 24 | 11.7% | 27.6% | ||
| Q3 24 | 17.8% | 30.0% | ||
| Q2 24 | 12.0% | 29.4% | ||
| Q1 24 | 7.8% | 27.2% |
| Q4 25 | $0.45 | $1.47 | ||
| Q3 25 | $1.27 | $1.39 | ||
| Q2 25 | $0.71 | $1.29 | ||
| Q1 25 | $0.49 | $1.29 | ||
| Q4 24 | $0.70 | $1.19 | ||
| Q3 24 | $1.17 | $1.24 | ||
| Q2 24 | $0.64 | $1.17 | ||
| Q1 24 | $0.36 | $1.05 |
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 | $250.3M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $561.2M |
| Total Assets | $5.1B | $1.1B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $250.3M | ||
| Q3 25 | $11.3M | $225.3M | ||
| Q2 25 | $19.8M | $194.0M | ||
| Q1 25 | $23.7M | $290.7M | ||
| Q4 24 | $11.1M | $232.2M | ||
| Q3 24 | $4.0M | $235.4M | ||
| Q2 24 | $22.8M | $281.2M | ||
| Q1 24 | $4.5M | $273.8M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $561.2M | ||
| Q3 25 | $1.5B | $529.4M | ||
| Q2 25 | $1.5B | $508.2M | ||
| Q1 25 | $1.4B | $498.0M | ||
| Q4 24 | $1.4B | $477.1M | ||
| Q3 24 | $1.3B | $449.6M | ||
| Q2 24 | $1.3B | $427.8M | ||
| Q1 24 | $1.2B | $404.2M |
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.0B | ||
| Q2 25 | $4.8B | $999.5M | ||
| Q1 25 | $4.7B | $996.5M | ||
| Q4 24 | $4.7B | $973.5M | ||
| Q3 24 | $4.6B | $908.3M | ||
| Q2 24 | $4.4B | $876.6M | ||
| Q1 24 | $4.4B | $861.8M |
| 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 | $75.7M |
| Free Cash FlowOCF − Capex | — | $74.9M |
| FCF MarginFCF / Revenue | — | 42.8% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | 3.92× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | — | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $75.7M | ||
| Q3 25 | $77.3M | $90.4M | ||
| Q2 25 | $60.8M | $33.8M | ||
| Q1 25 | $43.2M | $109.6M | ||
| Q4 24 | $41.5M | $47.7M | ||
| Q3 24 | $53.5M | $61.0M | ||
| Q2 24 | $49.3M | $49.8M | ||
| Q1 24 | $51.2M | $85.5M |
| Q4 25 | — | $74.9M | ||
| Q3 25 | — | $89.5M | ||
| Q2 25 | — | $32.4M | ||
| Q1 25 | — | $107.5M | ||
| Q4 24 | — | $41.9M | ||
| Q3 24 | — | $57.6M | ||
| Q2 24 | — | $48.8M | ||
| Q1 24 | — | $83.5M |
| Q4 25 | — | 42.8% | ||
| Q3 25 | — | 52.7% | ||
| Q2 25 | — | 19.8% | ||
| Q1 25 | — | 67.3% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 32.8% | ||
| Q1 24 | — | 57.2% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 3.92× | 1.42× | ||
| Q3 25 | 1.71× | 1.80× | ||
| Q2 25 | 2.47× | 0.71× | ||
| Q1 25 | 2.61× | 2.31× | ||
| Q4 24 | 1.81× | 1.09× | ||
| Q3 24 | 1.39× | 1.32× | ||
| Q2 24 | 2.38× | 1.14× | ||
| Q1 24 | 4.38× | 2.15× |
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% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
