vs
Side-by-side financial comparison of H2O AMERICA (HTO) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($295.9M vs $199.4M, roughly 1.5× H2O AMERICA). Bio-Techne runs the higher net margin — 12.8% vs 8.1%, a 4.7% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -6.4%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 4.2%).
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.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
HTO vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $295.9M |
| Net Profit | $16.2M | $38.0M |
| Gross Margin | — | 64.6% |
| Operating Margin | 16.6% | 18.4% |
| Net Margin | 8.1% | 12.8% |
| Revenue YoY | 1.5% | -6.4% |
| Net Profit YoY | -29.2% | 68.3% |
| EPS (diluted) | $0.45 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $243.5M | — | ||
| Q2 25 | $197.8M | $317.0M | ||
| Q1 25 | $164.9M | $316.2M | ||
| Q4 24 | $196.5M | $297.0M | ||
| Q3 24 | $216.7M | $289.5M | ||
| Q2 24 | $173.1M | $306.1M | ||
| Q1 24 | $150.0M | $303.4M |
| Q4 25 | $16.2M | $38.0M | ||
| Q3 25 | $45.1M | — | ||
| Q2 25 | $24.7M | $-17.7M | ||
| Q1 25 | $16.6M | $22.6M | ||
| Q4 24 | $22.9M | $34.9M | ||
| Q3 24 | $38.7M | $33.6M | ||
| Q2 24 | $20.7M | $40.6M | ||
| Q1 24 | $11.7M | $49.1M |
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 62.7% | ||
| Q1 25 | — | 67.9% | ||
| Q4 24 | — | 65.3% | ||
| Q3 24 | — | 63.2% | ||
| Q2 24 | — | 66.4% | ||
| Q1 24 | — | 67.4% |
| Q4 25 | 16.6% | 18.4% | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 22.2% | -7.5% | ||
| Q1 25 | 21.8% | 12.2% | ||
| Q4 24 | 22.2% | 16.0% | ||
| Q3 24 | 26.9% | 13.8% | ||
| Q2 24 | 23.4% | 15.0% | ||
| Q1 24 | 18.6% | 22.1% |
| Q4 25 | 8.1% | 12.8% | ||
| Q3 25 | 18.5% | — | ||
| Q2 25 | 12.5% | -5.6% | ||
| Q1 25 | 10.0% | 7.1% | ||
| Q4 24 | 11.7% | 11.7% | ||
| Q3 24 | 17.8% | 11.6% | ||
| Q2 24 | 12.0% | 13.3% | ||
| Q1 24 | 7.8% | 16.2% |
| Q4 25 | $0.45 | $0.24 | ||
| Q3 25 | $1.27 | — | ||
| Q2 25 | $0.71 | $-0.11 | ||
| Q1 25 | $0.49 | $0.14 | ||
| Q4 24 | $0.70 | $0.22 | ||
| Q3 24 | $1.17 | $0.21 | ||
| Q2 24 | $0.64 | $0.26 | ||
| Q1 24 | $0.36 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | $1.9B | $260.0M |
| Stockholders' EquityBook value | $1.5B | $2.0B |
| Total Assets | $5.1B | $2.5B |
| Debt / EquityLower = less leverage | 1.23× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $172.9M | ||
| Q3 25 | $11.3M | — | ||
| Q2 25 | $19.8M | $162.2M | ||
| Q1 25 | $23.7M | $140.7M | ||
| Q4 24 | $11.1M | $177.5M | ||
| Q3 24 | $4.0M | $187.5M | ||
| Q2 24 | $22.8M | $152.9M | ||
| Q1 24 | $4.5M | $145.3M |
| Q4 25 | $1.9B | $260.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | $1.7B | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M | ||
| Q1 24 | — | $389.0M |
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.3B | $2.1B | ||
| Q1 24 | $1.2B | $2.0B |
| Q4 25 | $5.1B | $2.5B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.8B | $2.6B | ||
| Q1 25 | $4.7B | $2.6B | ||
| Q4 24 | $4.7B | $2.7B | ||
| Q3 24 | $4.6B | $2.7B | ||
| Q2 24 | $4.4B | $2.7B | ||
| Q1 24 | $4.4B | $2.7B |
| Q4 25 | 1.23× | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 1.26× | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | — | ||
| Q3 25 | $77.3M | — | ||
| Q2 25 | $60.8M | $98.2M | ||
| Q1 25 | $43.2M | $41.1M | ||
| Q4 24 | $41.5M | $84.3M | ||
| Q3 24 | $53.5M | $63.9M | ||
| Q2 24 | $49.3M | $75.5M | ||
| Q1 24 | $51.2M | $81.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $93.3M | ||
| Q1 25 | — | $31.0M | ||
| Q4 24 | — | $77.5M | ||
| Q3 24 | — | $54.7M | ||
| Q2 24 | — | $57.5M | ||
| Q1 24 | — | $64.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 29.4% | ||
| Q1 25 | — | 9.8% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 18.9% | ||
| Q2 24 | — | 18.8% | ||
| Q1 24 | — | 21.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | 1.82× | ||
| Q4 24 | 1.81× | 2.42× | ||
| Q3 24 | 1.39× | 1.90× | ||
| Q2 24 | 2.38× | 1.86× | ||
| Q1 24 | 4.38× | 1.65× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
