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Side-by-side financial comparison of Lifeway Foods, Inc. (LWAY) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $55.4M, roughly 1.1× Lifeway Foods, Inc.). TSS, Inc. runs the higher net margin — 20.0% vs 4.6%, a 15.4% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 18.0%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-17.4M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 11.4%).
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.
LWAY vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.4M | $60.9M |
| Net Profit | $2.5M | $12.2M |
| Gross Margin | 27.8% | 17.6% |
| Operating Margin | 6.8% | 1.5% |
| Net Margin | 4.6% | 20.0% |
| Revenue YoY | 18.0% | 21.8% |
| Net Profit YoY | 1688.1% | 535.7% |
| EPS (diluted) | $0.15 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $57.1M | $41.9M | ||
| Q2 25 | $53.9M | $44.0M | ||
| Q1 25 | $46.1M | $99.0M | ||
| Q4 24 | $46.9M | $50.0M | ||
| Q3 24 | $46.1M | $70.1M | ||
| Q2 24 | $49.2M | $12.2M | ||
| Q1 24 | $44.6M | $15.9M |
| Q4 25 | $2.5M | $12.2M | ||
| Q3 25 | $3.5M | $-1.5M | ||
| Q2 25 | $4.2M | $1.5M | ||
| Q1 25 | $3.5M | $3.0M | ||
| Q4 24 | $-160.0K | $1.9M | ||
| Q3 24 | $3.0M | $2.6M | ||
| Q2 24 | $3.8M | $1.4M | ||
| Q1 24 | $2.4M | $15.0K |
| Q4 25 | 27.8% | 17.6% | ||
| Q3 25 | 28.7% | 11.1% | ||
| Q2 25 | 28.6% | 17.8% | ||
| Q1 25 | 23.9% | 9.3% | ||
| Q4 24 | 25.3% | 14.4% | ||
| Q3 24 | 25.7% | 11.3% | ||
| Q2 24 | 27.0% | 37.3% | ||
| Q1 24 | 25.8% | 17.1% |
| Q4 25 | 6.8% | 1.5% | ||
| Q3 25 | 8.8% | -2.2% | ||
| Q2 25 | 10.8% | 5.1% | ||
| Q1 25 | 3.4% | 4.2% | ||
| Q4 24 | 1.5% | 0.0% | ||
| Q3 24 | 9.1% | 5.4% | ||
| Q2 24 | 11.0% | 14.0% | ||
| Q1 24 | 8.0% | 1.6% |
| Q4 25 | 4.6% | 20.0% | ||
| Q3 25 | 6.2% | -3.6% | ||
| Q2 25 | 7.9% | 3.4% | ||
| Q1 25 | 7.7% | 3.0% | ||
| Q4 24 | -0.3% | 3.8% | ||
| Q3 24 | 6.5% | 3.8% | ||
| Q2 24 | 7.7% | 11.5% | ||
| Q1 24 | 5.4% | 0.1% |
| Q4 25 | $0.15 | $0.44 | ||
| Q3 25 | $0.23 | $-0.06 | ||
| Q2 25 | $0.28 | $0.06 | ||
| Q1 25 | $0.23 | $0.12 | ||
| Q4 24 | $0.00 | $0.08 | ||
| Q3 24 | $0.19 | $0.10 | ||
| Q2 24 | $0.25 | $0.06 | ||
| Q1 24 | $0.16 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $85.8M | $76.6M |
| Total Assets | $105.6M | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $85.5M | ||
| Q3 25 | $23.0M | $70.7M | ||
| Q2 25 | $21.2M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $16.7M | $23.2M | ||
| Q3 24 | $20.6M | $46.4M | ||
| Q2 24 | $14.6M | $8.3M | ||
| Q1 24 | $12.0M | $14.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.5M | — |
| Q4 25 | $85.8M | $76.6M | ||
| Q3 25 | $82.8M | $63.4M | ||
| Q2 25 | $78.7M | $9.5M | ||
| Q1 25 | $74.2M | $9.4M | ||
| Q4 24 | $71.9M | $7.1M | ||
| Q3 24 | $71.5M | $7.7M | ||
| Q2 24 | $68.0M | $5.2M | ||
| Q1 24 | $63.5M | $3.7M |
| Q4 25 | $105.6M | $184.9M | ||
| Q3 25 | $109.5M | $165.4M | ||
| Q2 25 | $98.3M | $139.5M | ||
| Q1 25 | $93.7M | $113.5M | ||
| Q4 24 | $90.5M | $96.6M | ||
| Q3 24 | $91.3M | $67.3M | ||
| Q2 24 | $84.9M | $28.9M | ||
| Q1 24 | $82.8M | $26.8M |
| 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 | $16.3M |
| Free Cash FlowOCF − Capex | $-17.4M | $15.8M |
| FCF MarginFCF / Revenue | -31.5% | 25.9% |
| Capex IntensityCapex / Revenue | 31.9% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.11× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.4M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0K | $16.3M | ||
| Q3 25 | $6.9M | $-18.4M | ||
| Q2 25 | $3.9M | $16.3M | ||
| Q1 25 | $-150.0K | $20.6M | ||
| Q4 24 | $-2.6M | $-21.6M | ||
| Q3 24 | $7.5M | $38.6M | ||
| Q2 24 | $6.5M | $-4.3M | ||
| Q1 24 | $1.5M | $2.6M |
| Q4 25 | $-17.4M | $15.8M | ||
| Q3 25 | $1.8M | $-24.9M | ||
| Q2 25 | $1.6M | $5.4M | ||
| Q1 25 | $-2.4M | $5.8M | ||
| Q4 24 | $-3.8M | $-28.4M | ||
| Q3 24 | $5.9M | $38.6M | ||
| Q2 24 | $5.1M | $-6.0M | ||
| Q1 24 | $-923.0K | $2.6M |
| Q4 25 | -31.5% | 25.9% | ||
| Q3 25 | 3.1% | -59.3% | ||
| Q2 25 | 3.0% | 12.3% | ||
| Q1 25 | -5.1% | 5.8% | ||
| Q4 24 | -8.2% | -56.7% | ||
| Q3 24 | 12.8% | 55.1% | ||
| Q2 24 | 10.4% | -49.4% | ||
| Q1 24 | -2.1% | 16.4% |
| Q4 25 | 31.9% | 0.9% | ||
| Q3 25 | 9.0% | 15.3% | ||
| Q2 25 | 4.3% | 24.8% | ||
| Q1 25 | 4.8% | 15.0% | ||
| Q4 24 | 2.7% | 13.4% | ||
| Q3 24 | 3.3% | 0.1% | ||
| Q2 24 | 2.9% | 13.8% | ||
| Q1 24 | 5.5% | 0.2% |
| Q4 25 | 0.11× | 1.34× | ||
| Q3 25 | 1.96× | — | ||
| Q2 25 | 0.92× | 11.02× | ||
| Q1 25 | -0.04× | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | 2.50× | 14.60× | ||
| Q2 24 | 1.73× | -3.09× | ||
| Q1 24 | 0.64× | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
