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Side-by-side financial comparison of MARA Holdings, Inc. (MARA) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $202.3M, roughly 1.3× MARA Holdings, Inc.). Smith Douglas Homes Corp. runs the higher net margin — 1.4% vs -14298.3%, a 14299.6% gap on every dollar of revenue. On growth, MARA Holdings, Inc. posted the faster year-over-year revenue change (-5.6% vs -9.4%). Smith Douglas Homes Corp. produced more free cash flow last quarter ($8.7M vs $-1.2B). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% CAGR vs 10.7%).
MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
MARA vs SDHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.3M | $260.4M |
| Net Profit | $-1.7B | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | -11795.9% | 6.5% |
| Net Margin | -14298.3% | 1.4% |
| Revenue YoY | -5.6% | -9.4% |
| Net Profit YoY | -423.5% | -14.3% |
| EPS (diluted) | $-4.25 | $0.39 |
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 | $202.3M | $260.4M | ||
| Q3 25 | $252.4M | $262.0M | ||
| Q2 25 | $238.5M | $223.9M | ||
| Q1 25 | $213.9M | $224.7M | ||
| Q4 24 | $214.4M | $287.5M | ||
| Q3 24 | $131.6M | $277.8M | ||
| Q2 24 | $145.1M | $220.9M | ||
| Q1 24 | $165.2M | $189.2M |
| Q4 25 | $-1.7B | $3.5M | ||
| Q3 25 | $123.1M | $2.1M | ||
| Q2 25 | $808.2M | $2.4M | ||
| Q1 25 | $-533.4M | $2.7M | ||
| Q4 24 | $528.5M | $4.1M | ||
| Q3 24 | $-124.8M | $5.3M | ||
| Q2 24 | $-199.7M | $3.6M | ||
| Q1 24 | $337.2M | $3.0M |
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | -2613.4% | 25.5% | ||
| Q3 24 | -1065.0% | 26.5% | ||
| Q2 24 | -587.6% | 26.7% | ||
| Q1 24 | -289.4% | 26.1% |
| Q4 25 | -11795.9% | 6.5% | ||
| Q3 25 | 18.9% | 6.6% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | -253.0% | 8.7% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | -130.8% | 14.2% | ||
| Q2 24 | -160.1% | 11.7% | ||
| Q1 24 | — | 11.3% |
| Q4 25 | -14298.3% | 1.4% | ||
| Q3 25 | 48.8% | 0.8% | ||
| Q2 25 | 338.9% | 1.1% | ||
| Q1 25 | -249.4% | 1.2% | ||
| Q4 24 | 5367.4% | 1.4% | ||
| Q3 24 | -94.8% | 1.9% | ||
| Q2 24 | -137.6% | 1.7% | ||
| Q1 24 | 204.1% | 1.6% |
| Q4 25 | $-4.25 | $0.39 | ||
| Q3 25 | $0.27 | $0.24 | ||
| Q2 25 | $1.84 | $0.26 | ||
| Q1 25 | $-1.55 | $0.30 | ||
| Q4 24 | $1.60 | $0.50 | ||
| Q3 24 | $-0.42 | $0.58 | ||
| Q2 24 | $-0.72 | $0.40 | ||
| Q1 24 | $1.26 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $547.1M | $12.7M |
| Total DebtLower is stronger | $3.6B | — |
| Stockholders' EquityBook value | $3.5B | $86.7M |
| Total Assets | $7.3B | $557.6M |
| Debt / EquityLower = less leverage | 1.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.1M | $12.7M | ||
| Q3 25 | $826.4M | $14.8M | ||
| Q2 25 | $109.5M | $16.8M | ||
| Q1 25 | $196.2M | $12.7M | ||
| Q4 24 | $391.8M | $22.4M | ||
| Q3 24 | $164.3M | $23.7M | ||
| Q2 24 | $256.0M | $17.3M | ||
| Q1 24 | $324.3M | $32.8M |
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $618.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $86.7M | ||
| Q3 25 | $5.2B | $82.2M | ||
| Q2 25 | $4.8B | $80.0M | ||
| Q1 25 | $3.7B | $76.9M | ||
| Q4 24 | $4.1B | $73.6M | ||
| Q3 24 | $2.9B | $68.4M | ||
| Q2 24 | $2.6B | $62.1M | ||
| Q1 24 | $2.5B | $59.7M |
| Q4 25 | $7.3B | $557.6M | ||
| Q3 25 | $9.2B | $571.6M | ||
| Q2 25 | $7.7B | $570.2M | ||
| Q1 25 | $6.4B | $513.9M | ||
| Q4 24 | $6.8B | $475.9M | ||
| Q3 24 | $3.6B | $460.1M | ||
| Q2 24 | $3.1B | $429.3M | ||
| Q1 24 | $3.0B | $401.3M |
| Q4 25 | 1.04× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.22× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-802.7M | $9.8M |
| Free Cash FlowOCF − Capex | $-1.2B | $8.7M |
| FCF MarginFCF / Revenue | -598.0% | 3.4% |
| Capex IntensityCapex / Revenue | 201.2% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.0B | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-802.7M | $9.8M | ||
| Q3 25 | $-199.0M | $22.8M | ||
| Q2 25 | $-163.4M | $-28.9M | ||
| Q1 25 | $-215.5M | $-34.9M | ||
| Q4 24 | $-677.0M | $5.5M | ||
| Q3 24 | $-160.1M | $22.9M | ||
| Q2 24 | $-115.2M | $39.0K | ||
| Q1 24 | $-88.3M | $-9.3M |
| Q4 25 | $-1.2B | $8.7M | ||
| Q3 25 | $-283.9M | $21.4M | ||
| Q2 25 | $-282.4M | $-31.1M | ||
| Q1 25 | $-254.3M | $-35.9M | ||
| Q4 24 | $-927.8M | $4.8M | ||
| Q3 24 | $-198.1M | $22.3M | ||
| Q2 24 | $-132.4M | $-2.1M | ||
| Q1 24 | $-97.4M | $-9.7M |
| Q4 25 | -598.0% | 3.4% | ||
| Q3 25 | -112.5% | 8.2% | ||
| Q2 25 | -118.4% | -13.9% | ||
| Q1 25 | -118.9% | -16.0% | ||
| Q4 24 | -432.8% | 1.7% | ||
| Q3 24 | -150.5% | 8.0% | ||
| Q2 24 | -91.2% | -1.0% | ||
| Q1 24 | -59.0% | -5.1% |
| Q4 25 | 201.2% | 0.4% | ||
| Q3 25 | 33.6% | 0.5% | ||
| Q2 25 | 49.9% | 0.9% | ||
| Q1 25 | 18.2% | 0.5% | ||
| Q4 24 | 117.0% | 0.2% | ||
| Q3 24 | 28.9% | 0.2% | ||
| Q2 24 | 11.9% | 1.0% | ||
| Q1 24 | 5.5% | 0.2% |
| Q4 25 | — | 2.77× | ||
| Q3 25 | -1.62× | 10.70× | ||
| Q2 25 | -0.20× | -12.24× | ||
| Q1 25 | — | -13.01× | ||
| Q4 24 | -1.28× | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | — | 0.01× | ||
| Q1 24 | -0.26× | -3.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MARA
Segment breakdown not available.
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
