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Side-by-side financial comparison of Lifeway Foods, Inc. (LWAY) and MARINE PRODUCTS CORP (MPX). Click either name above to swap in a different company.
MARINE PRODUCTS CORP is the larger business by last-quarter revenue ($64.6M vs $55.4M, roughly 1.2× Lifeway Foods, Inc.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs 3.7%, a 0.9% gap on every dollar of revenue. On growth, MARINE PRODUCTS CORP posted the faster year-over-year revenue change (35.0% vs 18.0%). MARINE PRODUCTS CORP produced more free cash flow last quarter ($4.1M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs -3.5%).
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
LWAY vs MPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.4M | $64.6M |
| Net Profit | $2.5M | $2.4M |
| Gross Margin | 27.8% | 19.6% |
| Operating Margin | 6.8% | 5.8% |
| Net Margin | 4.6% | 3.7% |
| Revenue YoY | 18.0% | 35.0% |
| Net Profit YoY | 1688.1% | -44.6% |
| EPS (diluted) | $0.15 | $0.07 |
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 | $55.4M | $64.6M | ||
| Q3 25 | $57.1M | $53.1M | ||
| Q2 25 | $53.9M | $67.7M | ||
| Q1 25 | $46.1M | $59.0M | ||
| Q4 24 | $46.9M | $47.8M | ||
| Q3 24 | $46.1M | $49.9M | ||
| Q2 24 | $49.2M | $69.5M | ||
| Q1 24 | $44.6M | $69.3M |
| Q4 25 | $2.5M | $2.4M | ||
| Q3 25 | $3.5M | $2.6M | ||
| Q2 25 | $4.2M | $4.2M | ||
| Q1 25 | $3.5M | $2.2M | ||
| Q4 24 | $-160.0K | $4.3M | ||
| Q3 24 | $3.0M | $3.4M | ||
| Q2 24 | $3.8M | $5.6M | ||
| Q1 24 | $2.4M | $4.6M |
| Q4 25 | 27.8% | 19.6% | ||
| Q3 25 | 28.7% | 19.2% | ||
| Q2 25 | 28.6% | 19.1% | ||
| Q1 25 | 23.9% | 18.6% | ||
| Q4 24 | 25.3% | 19.2% | ||
| Q3 24 | 25.7% | 18.4% | ||
| Q2 24 | 27.0% | 18.9% | ||
| Q1 24 | 25.8% | 20.2% |
| Q4 25 | 6.8% | 5.8% | ||
| Q3 25 | 8.8% | 5.4% | ||
| Q2 25 | 10.8% | 7.1% | ||
| Q1 25 | 3.4% | 4.4% | ||
| Q4 24 | 1.5% | 7.7% | ||
| Q3 24 | 9.1% | 7.2% | ||
| Q2 24 | 11.0% | 8.3% | ||
| Q1 24 | 8.0% | 7.6% |
| Q4 25 | 4.6% | 3.7% | ||
| Q3 25 | 6.2% | 5.0% | ||
| Q2 25 | 7.9% | 6.1% | ||
| Q1 25 | 7.7% | 3.7% | ||
| Q4 24 | -0.3% | 8.9% | ||
| Q3 24 | 6.5% | 6.8% | ||
| Q2 24 | 7.7% | 8.0% | ||
| Q1 24 | 5.4% | 6.6% |
| Q4 25 | $0.15 | $0.07 | ||
| Q3 25 | $0.23 | $0.07 | ||
| Q2 25 | $0.28 | $0.12 | ||
| Q1 25 | $0.23 | $0.06 | ||
| Q4 24 | $0.00 | $0.13 | ||
| Q3 24 | $0.19 | $0.10 | ||
| Q2 24 | $0.25 | $0.14 | ||
| Q1 24 | $0.16 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $85.8M | $125.0M |
| Total Assets | $105.6M | $147.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | — | ||
| Q3 25 | $23.0M | — | ||
| Q2 25 | $21.2M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $16.7M | — | ||
| Q3 24 | $20.6M | — | ||
| Q2 24 | $14.6M | — | ||
| Q1 24 | $12.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.5M | — |
| Q4 25 | $85.8M | $125.0M | ||
| Q3 25 | $82.8M | $126.3M | ||
| Q2 25 | $78.7M | $127.2M | ||
| Q1 25 | $74.2M | $126.4M | ||
| Q4 24 | $71.9M | $129.0M | ||
| Q3 24 | $71.5M | $128.8M | ||
| Q2 24 | $68.0M | $129.3M | ||
| Q1 24 | $63.5M | $151.4M |
| Q4 25 | $105.6M | $147.2M | ||
| Q3 25 | $109.5M | $179.5M | ||
| Q2 25 | $98.3M | $173.2M | ||
| Q1 25 | $93.7M | $182.9M | ||
| Q4 24 | $90.5M | $171.2M | ||
| Q3 24 | $91.3M | $176.3M | ||
| Q2 24 | $84.9M | $175.7M | ||
| Q1 24 | $82.8M | $204.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.04× | — |
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 | $267.0K | $4.7M |
| Free Cash FlowOCF − Capex | $-17.4M | $4.1M |
| FCF MarginFCF / Revenue | -31.5% | 6.4% |
| Capex IntensityCapex / Revenue | 31.9% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.11× | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.4M | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0K | $4.7M | ||
| Q3 25 | $6.9M | $2.6M | ||
| Q2 25 | $3.9M | $-1.6M | ||
| Q1 25 | $-150.0K | $10.8M | ||
| Q4 24 | $-2.6M | $4.6M | ||
| Q3 24 | $7.5M | $5.1M | ||
| Q2 24 | $6.5M | $3.8M | ||
| Q1 24 | $1.5M | $15.9M |
| Q4 25 | $-17.4M | $4.1M | ||
| Q3 25 | $1.8M | $2.1M | ||
| Q2 25 | $1.6M | $-2.0M | ||
| Q1 25 | $-2.4M | $10.7M | ||
| Q4 24 | $-3.8M | $3.6M | ||
| Q3 24 | $5.9M | $3.2M | ||
| Q2 24 | $5.1M | $3.0M | ||
| Q1 24 | $-923.0K | $15.0M |
| Q4 25 | -31.5% | 6.4% | ||
| Q3 25 | 3.1% | 4.0% | ||
| Q2 25 | 3.0% | -3.0% | ||
| Q1 25 | -5.1% | 18.1% | ||
| Q4 24 | -8.2% | 7.6% | ||
| Q3 24 | 12.8% | 6.5% | ||
| Q2 24 | 10.4% | 4.4% | ||
| Q1 24 | -2.1% | 21.7% |
| Q4 25 | 31.9% | 0.9% | ||
| Q3 25 | 9.0% | 0.8% | ||
| Q2 25 | 4.3% | 0.6% | ||
| Q1 25 | 4.8% | 0.2% | ||
| Q4 24 | 2.7% | 2.1% | ||
| Q3 24 | 3.3% | 3.8% | ||
| Q2 24 | 2.9% | 1.1% | ||
| Q1 24 | 5.5% | 1.3% |
| Q4 25 | 0.11× | 2.00× | ||
| Q3 25 | 1.96× | 0.97× | ||
| Q2 25 | 0.92× | -0.39× | ||
| Q1 25 | -0.04× | 4.88× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | 2.50× | 1.51× | ||
| Q2 24 | 1.73× | 0.68× | ||
| Q1 24 | 0.64× | 3.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
