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Side-by-side financial comparison of H2O AMERICA (HTO) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $188.3M, roughly 1.1× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 8.1%, a 39.8% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -21.9%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -15.4%).
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.
HTO vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $188.3M |
| Net Profit | $16.2M | $90.3M |
| Gross Margin | — | 79.5% |
| Operating Margin | 16.6% | 32.3% |
| Net Margin | 8.1% | 47.9% |
| Revenue YoY | 1.5% | -21.9% |
| Net Profit YoY | -29.2% | 1710.8% |
| EPS (diluted) | $0.45 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $243.5M | $215.3M | ||
| Q2 25 | $197.8M | $188.2M | ||
| Q1 25 | $164.9M | $197.2M | ||
| Q4 24 | $196.5M | $241.0M | ||
| Q3 24 | $216.7M | $225.5M | ||
| Q2 24 | $173.1M | $256.0M | ||
| Q1 24 | $150.0M | $263.4M |
| Q4 25 | $16.2M | $90.3M | ||
| Q3 25 | $45.1M | $91.1M | ||
| Q2 25 | $24.7M | $139.5M | ||
| Q1 25 | $16.6M | $-10.0M | ||
| Q4 24 | $22.9M | $-5.6M | ||
| Q3 24 | $38.7M | $-284.4M | ||
| Q2 24 | $20.7M | $-433.6M | ||
| Q1 24 | $11.7M | $-49.2M |
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
| Q4 25 | 16.6% | 32.3% | ||
| Q3 25 | 26.5% | 30.4% | ||
| Q2 25 | 22.2% | 5.7% | ||
| Q1 25 | 21.8% | -31.2% | ||
| Q4 24 | 22.2% | -69.2% | ||
| Q3 24 | 26.9% | -36.4% | ||
| Q2 24 | 23.4% | -90.8% | ||
| Q1 24 | 18.6% | -6.1% |
| Q4 25 | 8.1% | 47.9% | ||
| Q3 25 | 18.5% | 42.3% | ||
| Q2 25 | 12.5% | 74.1% | ||
| Q1 25 | 10.0% | -5.1% | ||
| Q4 24 | 11.7% | -2.3% | ||
| Q3 24 | 17.8% | -126.1% | ||
| Q2 24 | 12.0% | -169.4% | ||
| Q1 24 | 7.8% | -18.7% |
| Q4 25 | $0.45 | $2.78 | ||
| Q3 25 | $1.27 | $2.91 | ||
| Q2 25 | $0.71 | $4.50 | ||
| Q1 25 | $0.49 | $-0.39 | ||
| Q4 24 | $0.70 | $-0.01 | ||
| Q3 24 | $1.17 | $-9.39 | ||
| Q2 24 | $0.64 | $-14.35 | ||
| Q1 24 | $0.36 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | $1.9B | $1.4B |
| Stockholders' EquityBook value | $1.5B | $-171.5M |
| Total Assets | $5.1B | $1.7B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $226.6M | ||
| Q3 25 | $11.3M | $184.2M | ||
| Q2 25 | $19.8M | $267.4M | ||
| Q1 25 | $23.7M | $138.3M | ||
| Q4 24 | $11.1M | $146.9M | ||
| Q3 24 | $4.0M | $159.2M | ||
| Q2 24 | $22.8M | $236.9M | ||
| Q1 24 | $4.5M | $190.7M |
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $-171.5M | ||
| Q3 25 | $1.5B | $-260.5M | ||
| Q2 25 | $1.5B | $-351.7M | ||
| Q1 25 | $1.4B | $-496.8M | ||
| Q4 24 | $1.4B | $-488.2M | ||
| Q3 24 | $1.3B | $-497.6M | ||
| Q2 24 | $1.3B | $-218.3M | ||
| Q1 24 | $1.2B | $228.4M |
| Q4 25 | $5.1B | $1.7B | ||
| Q3 25 | $5.0B | $1.7B | ||
| Q2 25 | $4.8B | $1.5B | ||
| Q1 25 | $4.7B | $1.5B | ||
| Q4 24 | $4.7B | $1.8B | ||
| Q3 24 | $4.6B | $2.2B | ||
| Q2 24 | $4.4B | $3.2B | ||
| Q1 24 | $4.4B | $5.0B |
| 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 | $26.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $26.2M | ||
| Q3 25 | $77.3M | $-60.6M | ||
| Q2 25 | $60.8M | $-25.6M | ||
| Q1 25 | $43.2M | $184.0K | ||
| Q4 24 | $41.5M | $-2.7M | ||
| Q3 24 | $53.5M | $19.5M | ||
| Q2 24 | $49.3M | $111.5M | ||
| Q1 24 | $51.2M | $135.4M |
| Q4 25 | 3.92× | 0.29× | ||
| Q3 25 | 1.71× | -0.66× | ||
| Q2 25 | 2.47× | -0.18× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
