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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $152.8M, roughly 1.0× Riot Platforms, Inc.). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs -452.0%, a 456.7% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 7.2%). INSTEEL INDUSTRIES INC produced more free cash flow last quarter ($-2.2M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
IIIN vs RIOT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $152.8M |
| Net Profit | $7.6M | $-690.7M |
| Gross Margin | 11.3% | — |
| Operating Margin | 6.0% | -447.9% |
| Net Margin | 4.7% | -452.0% |
| Revenue YoY | 23.3% | 7.2% |
| Net Profit YoY | 602.4% | -606.3% |
| EPS (diluted) | $0.39 | $-1.89 |
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 | $159.9M | $152.8M | ||
| Q3 25 | $177.4M | $180.2M | ||
| Q2 25 | $179.9M | $153.0M | ||
| Q1 25 | $160.7M | $161.4M | ||
| Q4 24 | $129.7M | $142.6M | ||
| Q3 24 | $134.3M | $84.8M | ||
| Q2 24 | $145.8M | $70.0M | ||
| Q1 24 | $127.4M | $79.3M |
| Q4 25 | $7.6M | $-690.7M | ||
| Q3 25 | $14.6M | $104.5M | ||
| Q2 25 | $15.2M | $219.5M | ||
| Q1 25 | $10.2M | $-296.4M | ||
| Q4 24 | $1.1M | $136.4M | ||
| Q3 24 | $4.7M | $-154.4M | ||
| Q2 24 | $6.6M | $-84.4M | ||
| Q1 24 | $6.9M | $211.8M |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 6.0% | -447.9% | ||
| Q3 25 | 10.8% | 44.4% | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 8.3% | -144.9% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 4.5% | -143.3% | ||
| Q2 24 | 6.0% | -167.2% | ||
| Q1 24 | 7.0% | — |
| Q4 25 | 4.7% | -452.0% | ||
| Q3 25 | 8.2% | 58.0% | ||
| Q2 25 | 8.4% | 143.4% | ||
| Q1 25 | 6.4% | -183.6% | ||
| Q4 24 | 0.8% | 95.7% | ||
| Q3 24 | 3.5% | -182.1% | ||
| Q2 24 | 4.5% | -120.6% | ||
| Q1 24 | 5.4% | 267.1% |
| Q4 25 | $0.39 | $-1.89 | ||
| Q3 25 | $0.74 | $0.26 | ||
| Q2 25 | $0.78 | $0.58 | ||
| Q1 25 | $0.52 | $-0.90 | ||
| Q4 24 | $0.06 | $0.39 | ||
| Q3 24 | $0.24 | $-0.54 | ||
| Q2 24 | $0.34 | $-0.32 | ||
| Q1 24 | $0.35 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.6M | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $358.8M | $2.9B |
| Total Assets | $456.1M | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $233.5M | ||
| Q3 25 | $38.6M | $330.7M | ||
| Q2 25 | $53.7M | $255.4M | ||
| Q1 25 | $28.4M | $163.7M | ||
| Q4 24 | $36.0M | $277.9M | ||
| Q3 24 | $111.5M | $355.7M | ||
| Q2 24 | $97.7M | $481.2M | ||
| Q1 24 | $83.9M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $358.8M | $2.9B | ||
| Q3 25 | $371.5M | $3.5B | ||
| Q2 25 | $356.2M | $3.3B | ||
| Q1 25 | $341.4M | $2.9B | ||
| Q4 24 | $331.6M | $3.1B | ||
| Q3 24 | $350.9M | $2.7B | ||
| Q2 24 | $346.0M | $2.6B | ||
| Q1 24 | $340.6M | $2.5B |
| Q4 25 | $456.1M | $3.9B | ||
| Q3 25 | $462.6M | $4.5B | ||
| Q2 25 | $471.9M | $4.3B | ||
| Q1 25 | $421.9M | $3.7B | ||
| Q4 24 | $404.7M | $3.9B | ||
| Q3 24 | $422.6M | $2.9B | ||
| Q2 24 | $414.6M | $2.7B | ||
| Q1 24 | $397.2M | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| 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 | $-701.0K | $-572.9M |
| Free Cash FlowOCF − Capex | $-2.2M | $-774.3M |
| FCF MarginFCF / Revenue | -1.4% | -506.6% |
| Capex IntensityCapex / Revenue | 0.9% | 131.8% |
| Cash ConversionOCF / Net Profit | -0.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $-572.9M | ||
| Q3 25 | $-17.0M | $-114.0M | ||
| Q2 25 | $28.5M | $-231.3M | ||
| Q1 25 | $-3.3M | $-122.1M | ||
| Q4 24 | $19.0M | $-255.1M | ||
| Q3 24 | $16.2M | $-56.3M | ||
| Q2 24 | $18.8M | $-42.5M | ||
| Q1 24 | $1.4M | $-57.9M |
| Q4 25 | $-2.2M | $-774.3M | ||
| Q3 25 | $-18.7M | $-139.7M | ||
| Q2 25 | $26.9M | $-291.7M | ||
| Q1 25 | $-5.5M | $-154.9M | ||
| Q4 24 | $16.3M | $-495.4M | ||
| Q3 24 | $14.5M | $-127.6M | ||
| Q2 24 | $15.5M | $-96.1M | ||
| Q1 24 | $-580.0K | $-115.2M |
| Q4 25 | -1.4% | -506.6% | ||
| Q3 25 | -10.6% | -77.5% | ||
| Q2 25 | 15.0% | -190.7% | ||
| Q1 25 | -3.5% | -96.0% | ||
| Q4 24 | 12.6% | -347.5% | ||
| Q3 24 | 10.8% | -150.5% | ||
| Q2 24 | 10.7% | -137.2% | ||
| Q1 24 | -0.5% | -145.2% |
| Q4 25 | 0.9% | 131.8% | ||
| Q3 25 | 1.0% | 14.3% | ||
| Q2 25 | 0.9% | 39.5% | ||
| Q1 25 | 1.4% | 20.4% | ||
| Q4 24 | 2.1% | 168.6% | ||
| Q3 24 | 1.3% | 84.1% | ||
| Q2 24 | 2.2% | 76.5% | ||
| Q1 24 | 1.5% | 72.3% |
| Q4 25 | -0.09× | — | ||
| Q3 25 | -1.17× | -1.09× | ||
| Q2 25 | 1.88× | -1.05× | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | 17.56× | -1.87× | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
