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Side-by-side financial comparison of Lifeway Foods, Inc. (LWAY) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $50.3M, roughly 1.1× READING INTERNATIONAL INC). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -5.1%, a 9.7% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs -14.2%). READING INTERNATIONAL INC 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 5.6%).
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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
LWAY vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.4M | $50.3M |
| Net Profit | $2.5M | $-2.6M |
| Gross Margin | 27.8% | — |
| Operating Margin | 6.8% | -1.9% |
| Net Margin | 4.6% | -5.1% |
| Revenue YoY | 18.0% | -14.2% |
| Net Profit YoY | 1688.1% | -14.5% |
| EPS (diluted) | $0.15 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $57.1M | $52.2M | ||
| Q2 25 | $53.9M | $60.4M | ||
| Q1 25 | $46.1M | $40.2M | ||
| Q4 24 | $46.9M | $58.6M | ||
| Q3 24 | $46.1M | $60.1M | ||
| Q2 24 | $49.2M | $46.8M | ||
| Q1 24 | $44.6M | $45.1M |
| Q4 25 | $2.5M | $-2.6M | ||
| Q3 25 | $3.5M | $-4.2M | ||
| Q2 25 | $4.2M | $-2.7M | ||
| Q1 25 | $3.5M | $-4.8M | ||
| Q4 24 | $-160.0K | $-2.2M | ||
| Q3 24 | $3.0M | $-7.0M | ||
| Q2 24 | $3.8M | $-12.8M | ||
| Q1 24 | $2.4M | $-13.2M |
| Q4 25 | 27.8% | — | ||
| Q3 25 | 28.7% | — | ||
| Q2 25 | 28.6% | — | ||
| Q1 25 | 23.9% | — | ||
| Q4 24 | 25.3% | — | ||
| Q3 24 | 25.7% | — | ||
| Q2 24 | 27.0% | — | ||
| Q1 24 | 25.8% | — |
| Q4 25 | 6.8% | -1.9% | ||
| Q3 25 | 8.8% | -0.6% | ||
| Q2 25 | 10.8% | 4.8% | ||
| Q1 25 | 3.4% | -17.2% | ||
| Q4 24 | 1.5% | 2.6% | ||
| Q3 24 | 9.1% | -0.6% | ||
| Q2 24 | 11.0% | -16.4% | ||
| Q1 24 | 8.0% | -16.7% |
| Q4 25 | 4.6% | -5.1% | ||
| Q3 25 | 6.2% | -8.0% | ||
| Q2 25 | 7.9% | -4.4% | ||
| Q1 25 | 7.7% | -11.8% | ||
| Q4 24 | -0.3% | -3.8% | ||
| Q3 24 | 6.5% | -11.7% | ||
| Q2 24 | 7.7% | -27.4% | ||
| Q1 24 | 5.4% | -29.4% |
| Q4 25 | $0.15 | $-0.11 | ||
| Q3 25 | $0.23 | $-0.18 | ||
| Q2 25 | $0.28 | $-0.12 | ||
| Q1 25 | $0.23 | $-0.21 | ||
| Q4 24 | $0.00 | $-0.11 | ||
| Q3 24 | $0.19 | $-0.31 | ||
| Q2 24 | $0.25 | $-0.57 | ||
| Q1 24 | $0.16 | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | — | $185.1M |
| Stockholders' EquityBook value | $85.8M | $-18.2M |
| Total Assets | $105.6M | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $10.5M | ||
| Q3 25 | $23.0M | $8.1M | ||
| Q2 25 | $21.2M | $9.1M | ||
| Q1 25 | $19.4M | $5.9M | ||
| Q4 24 | $16.7M | $12.4M | ||
| Q3 24 | $20.6M | $10.1M | ||
| Q2 24 | $14.6M | $9.3M | ||
| Q1 24 | $12.0M | $7.5M |
| Q4 25 | — | $185.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.5M | — |
| Q4 25 | $85.8M | $-18.2M | ||
| Q3 25 | $82.8M | $-12.1M | ||
| Q2 25 | $78.7M | $-7.7M | ||
| Q1 25 | $74.2M | $-8.1M | ||
| Q4 24 | $71.9M | $-4.4M | ||
| Q3 24 | $71.5M | $1.6M | ||
| Q2 24 | $68.0M | $6.5M | ||
| Q1 24 | $63.5M | $18.0M |
| Q4 25 | $105.6M | $434.9M | ||
| Q3 25 | $109.5M | $435.2M | ||
| Q2 25 | $98.3M | $438.1M | ||
| Q1 25 | $93.7M | $441.0M | ||
| Q4 24 | $90.5M | $471.0M | ||
| Q3 24 | $91.3M | $495.7M | ||
| Q2 24 | $84.9M | $494.9M | ||
| Q1 24 | $82.8M | $494.9M |
| 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 | $4.3M |
| Free Cash FlowOCF − Capex | $-17.4M | $4.1M |
| FCF MarginFCF / Revenue | -31.5% | 8.2% |
| Capex IntensityCapex / Revenue | 31.9% | 0.3% |
| Cash ConversionOCF / Net Profit | 0.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.4M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0K | $4.3M | ||
| Q3 25 | $6.9M | $295.0K | ||
| Q2 25 | $3.9M | $1.6M | ||
| Q1 25 | $-150.0K | $-7.7M | ||
| Q4 24 | $-2.6M | $8.0M | ||
| Q3 24 | $7.5M | $1.3M | ||
| Q2 24 | $6.5M | $-10.4M | ||
| Q1 24 | $1.5M | $-2.8M |
| Q4 25 | $-17.4M | $4.1M | ||
| Q3 25 | $1.8M | $-246.0K | ||
| Q2 25 | $1.6M | $1.2M | ||
| Q1 25 | $-2.4M | $-8.0M | ||
| Q4 24 | $-3.8M | $7.0M | ||
| Q3 24 | $5.9M | $-1.1M | ||
| Q2 24 | $5.1M | $-10.6M | ||
| Q1 24 | $-923.0K | $-4.7M |
| Q4 25 | -31.5% | 8.2% | ||
| Q3 25 | 3.1% | -0.5% | ||
| Q2 25 | 3.0% | 1.9% | ||
| Q1 25 | -5.1% | -19.8% | ||
| Q4 24 | -8.2% | 12.0% | ||
| Q3 24 | 12.8% | -1.8% | ||
| Q2 24 | 10.4% | -22.7% | ||
| Q1 24 | -2.1% | -10.4% |
| Q4 25 | 31.9% | 0.3% | ||
| Q3 25 | 9.0% | 1.0% | ||
| Q2 25 | 4.3% | 0.6% | ||
| Q1 25 | 4.8% | 0.6% | ||
| Q4 24 | 2.7% | 1.7% | ||
| Q3 24 | 3.3% | 4.0% | ||
| Q2 24 | 2.9% | 0.5% | ||
| Q1 24 | 5.5% | 4.3% |
| Q4 25 | 0.11× | — | ||
| Q3 25 | 1.96× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | -0.04× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.50× | — | ||
| Q2 24 | 1.73× | — | ||
| Q1 24 | 0.64× | — |
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% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
