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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.

RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $47.7M, roughly 1.5× IRONWOOD PHARMACEUTICALS INC). RE/MAX Holdings, Inc. runs the higher net margin — 2.0% vs -4.8%, a 6.8% gap on every dollar of revenue. On growth, RE/MAX Holdings, Inc. posted the faster year-over-year revenue change (-1.8% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $33.5M). Over the past eight quarters, RE/MAX Holdings, Inc.'s revenue compounded faster (-4.7% CAGR vs -20.2%).

Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.

RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.

IRWD vs RMAX — Head-to-Head

Bigger by revenue
RMAX
RMAX
1.5× larger
RMAX
$71.1M
$47.7M
IRWD
Growing faster (revenue YoY)
RMAX
RMAX
+45.5% gap
RMAX
-1.8%
-47.3%
IRWD
Higher net margin
RMAX
RMAX
6.8% more per $
RMAX
2.0%
-4.8%
IRWD
More free cash flow
IRWD
IRWD
$41.1M more FCF
IRWD
$74.6M
$33.5M
RMAX
Faster 2-yr revenue CAGR
RMAX
RMAX
Annualised
RMAX
-4.7%
-20.2%
IRWD

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IRWD
IRWD
RMAX
RMAX
Revenue
$47.7M
$71.1M
Net Profit
$-2.3M
$1.4M
Gross Margin
Operating Margin
14.3%
13.1%
Net Margin
-4.8%
2.0%
Revenue YoY
-47.3%
-1.8%
Net Profit YoY
-200.9%
-75.2%
EPS (diluted)
$0.01

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.

Revenue
IRWD
IRWD
RMAX
RMAX
Q4 25
$47.7M
$71.1M
Q3 25
$122.1M
$73.2M
Q2 25
$85.2M
$72.8M
Q1 25
$41.1M
$74.5M
Q4 24
$90.5M
$72.5M
Q3 24
$91.6M
$78.5M
Q2 24
$94.4M
$78.5M
Q1 24
$74.9M
$78.3M
Net Profit
IRWD
IRWD
RMAX
RMAX
Q4 25
$-2.3M
$1.4M
Q3 25
$40.1M
$4.0M
Q2 25
$23.6M
$4.7M
Q1 25
$-37.4M
$-2.0M
Q4 24
$2.3M
$5.8M
Q3 24
$3.6M
$966.0K
Q2 24
$-860.0K
$3.7M
Q1 24
$-4.2M
$-3.4M
Operating Margin
IRWD
IRWD
RMAX
RMAX
Q4 25
14.3%
13.1%
Q3 25
61.8%
25.0%
Q2 25
53.2%
19.3%
Q1 25
-70.7%
7.2%
Q4 24
34.8%
5.9%
Q3 24
28.0%
19.4%
Q2 24
26.5%
20.6%
Q1 24
14.7%
5.8%
Net Margin
IRWD
IRWD
RMAX
RMAX
Q4 25
-4.8%
2.0%
Q3 25
32.8%
5.4%
Q2 25
27.7%
6.4%
Q1 25
-90.9%
-2.6%
Q4 24
2.5%
8.0%
Q3 24
4.0%
1.2%
Q2 24
-0.9%
4.7%
Q1 24
-5.6%
-4.3%
EPS (diluted)
IRWD
IRWD
RMAX
RMAX
Q4 25
$0.01
Q3 25
$0.23
Q2 25
$0.14
Q1 25
$-0.23
Q4 24
$0.03
Q3 24
$0.02
Q2 24
$-0.01
Q1 24
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IRWD
IRWD
RMAX
RMAX
Cash + ST InvestmentsLiquidity on hand
$215.5M
$118.7M
Total DebtLower is stronger
$432.2M
Stockholders' EquityBook value
$-261.8M
$452.4M
Total Assets
$396.9M
$582.5M
Debt / EquityLower = less leverage
0.96×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IRWD
IRWD
RMAX
RMAX
Q4 25
$215.5M
$118.7M
Q3 25
$140.4M
$107.5M
Q2 25
$92.9M
$94.3M
Q1 25
$108.5M
$89.1M
Q4 24
$88.6M
$96.6M
Q3 24
$88.2M
$83.8M
Q2 24
$105.5M
$66.1M
Q1 24
$121.5M
$82.1M
Total Debt
IRWD
IRWD
RMAX
RMAX
Q4 25
$432.2M
Q3 25
$199.5M
$433.3M
Q2 25
$199.3M
$434.4M
Q1 25
$199.2M
$435.3M
Q4 24
$199.0M
$436.2M
Q3 24
$198.8M
$437.2M
Q2 24
$198.6M
$438.1M
Q1 24
$398.3M
$439.0M
Stockholders' Equity
IRWD
IRWD
RMAX
RMAX
Q4 25
$-261.8M
$452.4M
Q3 25
$-264.2M
$448.1M
Q2 25
$-308.2M
$442.4M
Q1 25
$-334.1M
$433.5M
Q4 24
$-301.3M
$429.5M
Q3 24
$-311.3M
$423.1M
Q2 24
$-321.7M
$418.4M
Q1 24
$-330.5M
$412.0M
Total Assets
IRWD
IRWD
RMAX
RMAX
Q4 25
$396.9M
$582.5M
Q3 25
$396.1M
$582.2M
Q2 25
$342.9M
$574.8M
Q1 25
$327.2M
$571.4M
Q4 24
$350.9M
$581.6M
Q3 24
$389.5M
$578.6M
Q2 24
$395.6M
$571.4M
Q1 24
$438.8M
$566.7M
Debt / Equity
IRWD
IRWD
RMAX
RMAX
Q4 25
0.96×
Q3 25
0.97×
Q2 25
0.98×
Q1 25
1.00×
Q4 24
1.02×
Q3 24
1.03×
Q2 24
1.05×
Q1 24
1.07×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IRWD
IRWD
RMAX
RMAX
Operating Cash FlowLast quarter
$74.6M
$40.9M
Free Cash FlowOCF − Capex
$74.6M
$33.5M
FCF MarginFCF / Revenue
156.3%
47.1%
Capex IntensityCapex / Revenue
0.0%
10.4%
Cash ConversionOCF / Net Profit
28.39×
TTM Free Cash FlowTrailing 4 quarters
$127.0M
$56.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IRWD
IRWD
RMAX
RMAX
Q4 25
$74.6M
$40.9M
Q3 25
$47.6M
$17.7M
Q2 25
$-15.1M
$4.6M
Q1 25
$20.0M
$5.7M
Q4 24
$15.2M
$59.7M
Q3 24
$9.9M
$17.6M
Q2 24
$33.5M
$15.9M
Q1 24
$45.0M
$9.4M
Free Cash Flow
IRWD
IRWD
RMAX
RMAX
Q4 25
$74.6M
$33.5M
Q3 25
$47.6M
$16.4M
Q2 25
$-15.1M
$2.9M
Q1 25
$19.9M
$4.0M
Q4 24
$53.0M
Q3 24
$9.9M
$16.3M
Q2 24
$33.4M
$14.0M
Q1 24
$44.9M
$6.8M
FCF Margin
IRWD
IRWD
RMAX
RMAX
Q4 25
156.3%
47.1%
Q3 25
39.0%
22.4%
Q2 25
-17.7%
4.0%
Q1 25
48.4%
5.3%
Q4 24
73.2%
Q3 24
10.8%
20.8%
Q2 24
35.4%
17.8%
Q1 24
60.0%
8.6%
Capex Intensity
IRWD
IRWD
RMAX
RMAX
Q4 25
0.0%
10.4%
Q3 25
0.0%
1.8%
Q2 25
0.0%
2.2%
Q1 25
0.1%
2.3%
Q4 24
0.0%
9.1%
Q3 24
0.0%
1.7%
Q2 24
0.1%
2.4%
Q1 24
0.1%
3.3%
Cash Conversion
IRWD
IRWD
RMAX
RMAX
Q4 25
28.39×
Q3 25
1.19×
4.45×
Q2 25
-0.64×
0.97×
Q1 25
Q4 24
6.74×
10.28×
Q3 24
2.71×
18.22×
Q2 24
4.29×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IRWD
IRWD

Segment breakdown not available.

RMAX
RMAX

Franchising Segment$50.1M70%
Broker Fees$13.9M20%
Annual Dues$7.4M10%

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