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Side-by-side financial comparison of H2O AMERICA (HTO) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $124.7M, roughly 1.6× SMITH & WESSON BRANDS, INC.). H2O AMERICA runs the higher net margin — 8.1% vs 1.5%, a 6.6% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -3.9%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
HTO vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $124.7M |
| Net Profit | $16.2M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 16.6% | 3.3% |
| Net Margin | 8.1% | 1.5% |
| Revenue YoY | 1.5% | -3.9% |
| Net Profit YoY | -29.2% | -53.6% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $124.7M | ||
| Q3 25 | $243.5M | $85.1M | ||
| Q2 25 | $197.8M | $140.8M | ||
| Q1 25 | $164.9M | $115.9M | ||
| Q4 24 | $196.5M | $129.7M | ||
| Q3 24 | $216.7M | $88.3M | ||
| Q2 24 | $173.1M | $159.1M | ||
| Q1 24 | $150.0M | $137.5M |
| Q4 25 | $16.2M | $1.9M | ||
| Q3 25 | $45.1M | $-3.4M | ||
| Q2 25 | $24.7M | $8.6M | ||
| Q1 25 | $16.6M | $2.1M | ||
| Q4 24 | $22.9M | $4.5M | ||
| Q3 24 | $38.7M | $-1.9M | ||
| Q2 24 | $20.7M | $27.9M | ||
| Q1 24 | $11.7M | $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 | 16.6% | 3.3% | ||
| Q3 25 | 26.5% | -3.5% | ||
| Q2 25 | 22.2% | 9.3% | ||
| Q1 25 | 21.8% | 4.1% | ||
| Q4 24 | 22.2% | 5.8% | ||
| Q3 24 | 26.9% | -1.7% | ||
| Q2 24 | 23.4% | 17.4% | ||
| Q1 24 | 18.6% | 8.2% |
| Q4 25 | 8.1% | 1.5% | ||
| Q3 25 | 18.5% | -4.0% | ||
| Q2 25 | 12.5% | 6.1% | ||
| Q1 25 | 10.0% | 1.8% | ||
| Q4 24 | 11.7% | 3.5% | ||
| Q3 24 | 17.8% | -2.1% | ||
| Q2 24 | 12.0% | 17.5% | ||
| Q1 24 | 7.8% | 5.7% |
| Q4 25 | $0.45 | $0.04 | ||
| Q3 25 | $1.27 | $-0.08 | ||
| Q2 25 | $0.71 | $0.19 | ||
| Q1 25 | $0.49 | $0.05 | ||
| Q4 24 | $0.70 | $0.10 | ||
| Q3 24 | $1.17 | $-0.04 | ||
| Q2 24 | $0.64 | $0.60 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $22.4M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $363.2M |
| Total Assets | $5.1B | $548.6M |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $22.4M | ||
| Q3 25 | $11.3M | $18.0M | ||
| Q2 25 | $19.8M | $25.2M | ||
| Q1 25 | $23.7M | $26.7M | ||
| Q4 24 | $11.1M | $39.1M | ||
| Q3 24 | $4.0M | $35.5M | ||
| Q2 24 | $22.8M | $60.8M | ||
| Q1 24 | $4.5M | $47.4M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $363.2M | ||
| Q3 25 | $1.5B | $364.4M | ||
| Q2 25 | $1.5B | $372.5M | ||
| Q1 25 | $1.4B | $366.9M | ||
| Q4 24 | $1.4B | $371.5M | ||
| Q3 24 | $1.3B | $380.0M | ||
| Q2 24 | $1.3B | $399.9M | ||
| Q1 24 | $1.2B | $376.4M |
| Q4 25 | $5.1B | $548.6M | ||
| Q3 25 | $5.0B | $554.6M | ||
| Q2 25 | $4.8B | $559.6M | ||
| Q1 25 | $4.7B | $578.9M | ||
| Q4 24 | $4.7B | $587.4M | ||
| Q3 24 | $4.6B | $571.3M | ||
| Q2 24 | $4.4B | $577.4M | ||
| Q1 24 | $4.4B | $570.6M |
| 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 | $27.3M |
| Free Cash FlowOCF − Capex | — | $16.3M |
| FCF MarginFCF / Revenue | — | 13.1% |
| Capex IntensityCapex / Revenue | — | 8.8% |
| Cash ConversionOCF / Net Profit | 3.92× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $27.3M | ||
| Q3 25 | $77.3M | $-8.1M | ||
| Q2 25 | $60.8M | $40.8M | ||
| Q1 25 | $43.2M | $-9.8M | ||
| Q4 24 | $41.5M | $-7.4M | ||
| Q3 24 | $53.5M | $-30.8M | ||
| Q2 24 | $49.3M | $43.7M | ||
| Q1 24 | $51.2M | $25.2M |
| Q4 25 | — | $16.3M | ||
| Q3 25 | — | $-12.4M | ||
| Q2 25 | — | $33.5M | ||
| Q1 25 | — | $-16.1M | ||
| Q4 24 | — | $-10.7M | ||
| Q3 24 | — | $-35.5M | ||
| Q2 24 | — | $38.2M | ||
| Q1 24 | — | $7.0M |
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | -14.6% | ||
| Q2 25 | — | 23.8% | ||
| Q1 25 | — | -13.9% | ||
| Q4 24 | — | -8.3% | ||
| Q3 24 | — | -40.2% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 5.1% |
| Q4 25 | — | 8.8% | ||
| Q3 25 | — | 5.0% | ||
| Q2 25 | — | 5.2% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 13.2% |
| Q4 25 | 3.92× | 14.22× | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | 4.73× | ||
| Q1 25 | 2.61× | -4.68× | ||
| Q4 24 | 1.81× | -1.63× | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | 1.57× | ||
| Q1 24 | 4.38× | 3.20× |
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% |
SWBI
Segment breakdown not available.
