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Side-by-side financial comparison of H2O AMERICA (HTO) and VICOR CORP (VICR). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $113.0M, roughly 1.8× VICOR CORP). VICOR CORP runs the higher net margin — 18.3% vs 8.1%, a 10.2% gap on every dollar of revenue. On growth, VICOR CORP posted the faster year-over-year revenue change (20.2% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 14.7%).
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.
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
HTO vs VICR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $113.0M |
| Net Profit | $16.2M | $20.7M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 59.7% |
| Net Margin | 8.1% | 18.3% |
| Revenue YoY | 1.5% | 20.2% |
| Net Profit YoY | -29.2% | 713.9% |
| EPS (diluted) | $0.45 | $0.44 |
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.
| Q1 26 | — | $113.0M | ||
| Q4 25 | $199.4M | $107.3M | ||
| Q3 25 | $243.5M | $110.4M | ||
| Q2 25 | $197.8M | $96.0M | ||
| Q1 25 | $164.9M | $94.0M | ||
| Q4 24 | $196.5M | $96.2M | ||
| Q3 24 | $216.7M | $93.2M | ||
| Q2 24 | $173.1M | $85.9M |
| Q1 26 | — | $20.7M | ||
| Q4 25 | $16.2M | $46.5M | ||
| Q3 25 | $45.1M | $28.3M | ||
| Q2 25 | $24.7M | $41.2M | ||
| Q1 25 | $16.6M | $2.5M | ||
| Q4 24 | $22.9M | $10.2M | ||
| Q3 24 | $38.7M | $11.6M | ||
| Q2 24 | $20.7M | $-1.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 55.4% | ||
| Q3 25 | — | 57.5% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 52.4% | ||
| Q3 24 | — | 49.1% | ||
| Q2 24 | — | 49.8% |
| Q1 26 | — | 59.7% | ||
| Q4 25 | 16.6% | 14.6% | ||
| Q3 25 | 26.5% | 18.9% | ||
| Q2 25 | 22.2% | 47.3% | ||
| Q1 25 | 21.8% | -0.2% | ||
| Q4 24 | 22.2% | 9.6% | ||
| Q3 24 | 26.9% | 5.8% | ||
| Q2 24 | 23.4% | 0.2% |
| Q1 26 | — | 18.3% | ||
| Q4 25 | 8.1% | 43.4% | ||
| Q3 25 | 18.5% | 25.6% | ||
| Q2 25 | 12.5% | 42.9% | ||
| Q1 25 | 10.0% | 2.7% | ||
| Q4 24 | 11.7% | 10.7% | ||
| Q3 24 | 17.8% | 12.4% | ||
| Q2 24 | 12.0% | -1.4% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $0.45 | $1.01 | ||
| Q3 25 | $1.27 | $0.63 | ||
| Q2 25 | $0.71 | $0.91 | ||
| Q1 25 | $0.49 | $0.06 | ||
| Q4 24 | $0.70 | $0.24 | ||
| Q3 24 | $1.17 | $0.26 | ||
| Q2 24 | $0.64 | $-0.03 |
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 | $404.2M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $754.1M |
| Total Assets | $5.1B | $804.9M |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $404.2M | ||
| Q4 25 | $20.7M | $402.8M | ||
| Q3 25 | $11.3M | $362.4M | ||
| Q2 25 | $19.8M | $338.5M | ||
| Q1 25 | $23.7M | $296.1M | ||
| Q4 24 | $11.1M | $277.3M | ||
| Q3 24 | $4.0M | $267.6M | ||
| Q2 24 | $22.8M | $251.9M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $754.1M | ||
| Q4 25 | $1.5B | $711.6M | ||
| Q3 25 | $1.5B | $630.1M | ||
| Q2 25 | $1.5B | $608.6M | ||
| Q1 25 | $1.4B | $580.3M | ||
| Q4 24 | $1.4B | $570.1M | ||
| Q3 24 | $1.3B | $554.6M | ||
| Q2 24 | $1.3B | $537.2M |
| Q1 26 | — | $804.9M | ||
| Q4 25 | $5.1B | $785.8M | ||
| Q3 25 | $5.0B | $710.2M | ||
| Q2 25 | $4.8B | $693.5M | ||
| Q1 25 | $4.7B | $665.0M | ||
| Q4 24 | $4.7B | $641.1M | ||
| Q3 24 | $4.6B | $632.8M | ||
| Q2 24 | $4.4B | $613.2M |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $15.7M | ||
| Q3 25 | $77.3M | $38.5M | ||
| Q2 25 | $60.8M | $65.2M | ||
| Q1 25 | $43.2M | $20.1M | ||
| Q4 24 | $41.5M | $10.1M | ||
| Q3 24 | $53.5M | $22.6M | ||
| Q2 24 | $49.3M | $15.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $34.5M | ||
| Q2 25 | — | $59.0M | ||
| Q1 25 | — | $15.6M | ||
| Q4 24 | — | $8.4M | ||
| Q3 24 | — | $14.1M | ||
| Q2 24 | — | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 31.2% | ||
| Q2 25 | — | 61.5% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 0.34× | ||
| Q3 25 | 1.71× | 1.36× | ||
| Q2 25 | 2.47× | 1.58× | ||
| Q1 25 | 2.61× | 7.93× | ||
| Q4 24 | 1.81× | 0.99× | ||
| Q3 24 | 1.39× | 1.95× | ||
| Q2 24 | 2.38× | — |
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% |
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
