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Side-by-side financial comparison of iQSTEL Inc (IQST) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $84.2M, roughly 1.2× iQSTEL Inc). iQSTEL Inc runs the higher net margin — -3.2% vs -7.0%, a 3.8% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -14.9%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-1.2M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs -4.9%).
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
IQST vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $100.0M |
| Net Profit | $-2.7M | $-7.0M |
| Gross Margin | 3.5% | 28.0% |
| Operating Margin | -2.9% | -10.7% |
| Net Margin | -3.2% | -7.0% |
| Revenue YoY | -14.9% | 14.5% |
| Net Profit YoY | -44.5% | 76.0% |
| EPS (diluted) | $-0.92 | $-0.06 |
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 | $84.2M | $100.0M | ||
| Q3 25 | $102.9M | $161.9M | ||
| Q2 25 | $72.2M | $172.6M | ||
| Q1 25 | $57.6M | $111.4M | ||
| Q4 24 | $98.9M | $87.3M | ||
| Q3 24 | $54.2M | $150.5M | ||
| Q2 24 | $78.6M | $160.1M | ||
| Q1 24 | $51.4M | $110.6M |
| Q4 25 | $-2.7M | $-7.0M | ||
| Q3 25 | $-2.3M | $8.1M | ||
| Q2 25 | $-2.3M | $16.0M | ||
| Q1 25 | $-1.1M | $-6.0M | ||
| Q4 24 | $-1.9M | $-29.2M | ||
| Q3 24 | $-773.0K | $5.9M | ||
| Q2 24 | $-2.0M | $13.3M | ||
| Q1 24 | $-580.2K | $-7.9M |
| Q4 25 | 3.5% | 28.0% | ||
| Q3 25 | 2.7% | 35.4% | ||
| Q2 25 | 2.6% | 37.1% | ||
| Q1 25 | 3.4% | 29.5% | ||
| Q4 24 | 2.7% | 24.6% | ||
| Q3 24 | 3.7% | 32.4% | ||
| Q2 24 | 2.8% | 33.1% | ||
| Q1 24 | 2.7% | 27.7% |
| Q4 25 | -2.9% | -10.7% | ||
| Q3 25 | -0.5% | 13.3% | ||
| Q2 25 | -0.9% | 14.3% | ||
| Q1 25 | -1.0% | -4.4% | ||
| Q4 24 | -0.3% | -14.9% | ||
| Q3 24 | -0.1% | 8.9% | ||
| Q2 24 | -0.4% | 12.5% | ||
| Q1 24 | -0.4% | -1.9% |
| Q4 25 | -3.2% | -7.0% | ||
| Q3 25 | -2.3% | 5.0% | ||
| Q2 25 | -3.3% | 9.3% | ||
| Q1 25 | -2.0% | -5.4% | ||
| Q4 24 | -1.9% | -33.4% | ||
| Q3 24 | -1.4% | 3.9% | ||
| Q2 24 | -2.5% | 8.3% | ||
| Q1 24 | -1.1% | -7.1% |
| Q4 25 | $-0.92 | $-0.06 | ||
| Q3 25 | $-0.68 | $0.07 | ||
| Q2 25 | $-0.82 | $0.13 | ||
| Q1 25 | $-0.44 | $-0.05 | ||
| Q4 24 | $-1.19 | $-0.24 | ||
| Q3 24 | $-0.40 | $0.05 | ||
| Q2 24 | $-0.90 | $0.11 | ||
| Q1 24 | $-0.37 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.2M | — |
| Total DebtLower is stronger | $4.1M | $279.8M |
| Stockholders' EquityBook value | $16.3M | $405.9M |
| Total Assets | $51.1M | $823.2M |
| Debt / EquityLower = less leverage | 0.25× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | — | ||
| Q3 25 | $2.3M | — | ||
| Q2 25 | $2.0M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $2.1M | — | ||
| Q2 24 | $797.2K | — | ||
| Q1 24 | $2.7M | — |
| Q4 25 | $4.1M | $279.8M | ||
| Q3 25 | $2.7M | $281.1M | ||
| Q2 25 | $4.5M | $281.5M | ||
| Q1 25 | $3.5M | $306.9M | ||
| Q4 24 | $2.5M | $281.5M | ||
| Q3 24 | $3.2M | $282.8M | ||
| Q2 24 | $2.5M | $282.4M | ||
| Q1 24 | $194.0K | $282.8M |
| Q4 25 | $16.3M | $405.9M | ||
| Q3 25 | $17.9M | $408.4M | ||
| Q2 25 | $14.3M | $398.4M | ||
| Q1 25 | $11.6M | $381.1M | ||
| Q4 24 | $11.9M | $387.2M | ||
| Q3 24 | $8.1M | $416.6M | ||
| Q2 24 | $7.6M | $408.1M | ||
| Q1 24 | $8.4M | $391.8M |
| Q4 25 | $51.1M | $823.2M | ||
| Q3 25 | $46.9M | $844.4M | ||
| Q2 25 | $51.4M | $822.1M | ||
| Q1 25 | $42.0M | $824.6M | ||
| Q4 24 | $79.0M | $794.2M | ||
| Q3 24 | $32.4M | $853.4M | ||
| Q2 24 | $30.0M | $830.0M | ||
| Q1 24 | $22.1M | $808.6M |
| Q4 25 | 0.25× | 0.69× | ||
| Q3 25 | 0.15× | 0.69× | ||
| Q2 25 | 0.31× | 0.71× | ||
| Q1 25 | 0.31× | 0.81× | ||
| Q4 24 | 0.21× | 0.73× | ||
| Q3 24 | 0.40× | 0.68× | ||
| Q2 24 | 0.34× | 0.69× | ||
| Q1 24 | 0.02× | 0.72× |
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 | $-1.2M | $23.3M |
| Free Cash FlowOCF − Capex | $-1.2M | $14.1M |
| FCF MarginFCF / Revenue | -1.5% | 14.1% |
| Capex IntensityCapex / Revenue | 0.0% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $23.3M | ||
| Q3 25 | $-953.0K | $51.0M | ||
| Q2 25 | $257.7K | $36.0M | ||
| Q1 25 | $-1.9M | $-46.9M | ||
| Q4 24 | $-403.7K | $6.2M | ||
| Q3 24 | $625.0K | $37.2M | ||
| Q2 24 | $-2.6M | $52.4M | ||
| Q1 24 | $-536.9K | $-34.5M |
| Q4 25 | $-1.2M | $14.1M | ||
| Q3 25 | $-969.2K | $45.2M | ||
| Q2 25 | $211.7K | $29.1M | ||
| Q1 25 | $-2.0M | $-50.3M | ||
| Q4 24 | $-421.3K | $-98.0K | ||
| Q3 24 | $594.5K | $33.2M | ||
| Q2 24 | $-2.6M | $47.9M | ||
| Q1 24 | $-608.5K | $-39.9M |
| Q4 25 | -1.5% | 14.1% | ||
| Q3 25 | -0.9% | 27.9% | ||
| Q2 25 | 0.3% | 16.8% | ||
| Q1 25 | -3.4% | -45.2% | ||
| Q4 24 | -0.4% | -0.1% | ||
| Q3 24 | 1.1% | 22.1% | ||
| Q2 24 | -3.4% | 29.9% | ||
| Q1 24 | -1.2% | -36.0% |
| Q4 25 | 0.0% | 9.2% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.1% | 4.0% | ||
| Q1 25 | 0.1% | 3.1% | ||
| Q4 24 | 0.0% | 7.2% | ||
| Q3 24 | 0.1% | 2.7% | ||
| Q2 24 | 0.0% | 2.8% | ||
| Q1 24 | 0.1% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
