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Side-by-side financial comparison of MARA Holdings, Inc. (MARA) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $202.3M, roughly 1.9× MARA Holdings, Inc.). Bristow Group Inc. runs the higher net margin — 4.9% vs -14298.3%, a 14303.2% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs -5.6%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $-1.2B). Over the past eight quarters, MARA Holdings, Inc.'s revenue compounded faster (10.7% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
MARA vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.3M | $377.3M |
| Net Profit | $-1.7B | $18.4M |
| Gross Margin | — | — |
| Operating Margin | -11795.9% | 8.5% |
| Net Margin | -14298.3% | 4.9% |
| Revenue YoY | -5.6% | 6.7% |
| Net Profit YoY | -423.5% | -42.1% |
| EPS (diluted) | $-4.25 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $252.4M | $386.3M | ||
| Q2 25 | $238.5M | $376.4M | ||
| Q1 25 | $213.9M | $350.5M | ||
| Q4 24 | $214.4M | $353.5M | ||
| Q3 24 | $131.6M | $365.1M | ||
| Q2 24 | $145.1M | $359.7M | ||
| Q1 24 | $165.2M | $337.1M |
| Q4 25 | $-1.7B | $18.4M | ||
| Q3 25 | $123.1M | $51.5M | ||
| Q2 25 | $808.2M | $31.7M | ||
| Q1 25 | $-533.4M | $27.4M | ||
| Q4 24 | $528.5M | $31.8M | ||
| Q3 24 | $-124.8M | $28.2M | ||
| Q2 24 | $-199.7M | $28.2M | ||
| Q1 24 | $337.2M | $6.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -2613.4% | — | ||
| Q3 24 | -1065.0% | — | ||
| Q2 24 | -587.6% | — | ||
| Q1 24 | -289.4% | — |
| Q4 25 | -11795.9% | 8.5% | ||
| Q3 25 | 18.9% | 13.1% | ||
| Q2 25 | — | 11.3% | ||
| Q1 25 | -253.0% | 9.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -130.8% | 9.1% | ||
| Q2 24 | -160.1% | 12.4% | ||
| Q1 24 | — | 6.8% |
| Q4 25 | -14298.3% | 4.9% | ||
| Q3 25 | 48.8% | 13.3% | ||
| Q2 25 | 338.9% | 8.4% | ||
| Q1 25 | -249.4% | 7.8% | ||
| Q4 24 | 5367.4% | 9.0% | ||
| Q3 24 | -94.8% | 7.7% | ||
| Q2 24 | -137.6% | 7.8% | ||
| Q1 24 | 204.1% | 2.0% |
| Q4 25 | $-4.25 | $0.61 | ||
| Q3 25 | $0.27 | $1.72 | ||
| Q2 25 | $1.84 | $1.07 | ||
| Q1 25 | $-1.55 | $0.92 | ||
| Q4 24 | $1.60 | $1.07 | ||
| Q3 24 | $-0.42 | $0.95 | ||
| Q2 24 | $-0.72 | $0.96 | ||
| Q1 24 | $1.26 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | $3.6B | $671.5M |
| Stockholders' EquityBook value | $3.5B | $1.1B |
| Total Assets | $7.3B | $2.3B |
| Debt / EquityLower = less leverage | 1.04× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.1M | $286.2M | ||
| Q3 25 | $826.4M | $245.5M | ||
| Q2 25 | $109.5M | $251.8M | ||
| Q1 25 | $196.2M | $191.1M | ||
| Q4 24 | $391.8M | $247.5M | ||
| Q3 24 | $164.3M | $200.3M | ||
| Q2 24 | $256.0M | $178.6M | ||
| Q1 24 | $324.3M | $140.6M |
| Q4 25 | $3.6B | $671.5M | ||
| Q3 25 | $3.2B | $675.0M | ||
| Q2 25 | $2.3B | $705.2M | ||
| Q1 25 | $2.3B | $701.9M | ||
| Q4 24 | $2.4B | $689.8M | ||
| Q3 24 | $618.7M | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $3.5B | $1.1B | ||
| Q3 25 | $5.2B | $1.0B | ||
| Q2 25 | $4.8B | $984.4M | ||
| Q1 25 | $3.7B | $931.7M | ||
| Q4 24 | $4.1B | $891.7M | ||
| Q3 24 | $2.9B | $899.2M | ||
| Q2 24 | $2.6B | $849.1M | ||
| Q1 24 | $2.5B | $820.7M |
| Q4 25 | $7.3B | $2.3B | ||
| Q3 25 | $9.2B | $2.3B | ||
| Q2 25 | $7.7B | $2.3B | ||
| Q1 25 | $6.4B | $2.2B | ||
| Q4 24 | $6.8B | $2.1B | ||
| Q3 24 | $3.6B | $2.1B | ||
| Q2 24 | $3.1B | $2.0B | ||
| Q1 24 | $3.0B | $1.9B |
| Q4 25 | 1.04× | 0.63× | ||
| Q3 25 | 0.63× | 0.65× | ||
| Q2 25 | 0.47× | 0.72× | ||
| Q1 25 | 0.62× | 0.75× | ||
| Q4 24 | 0.59× | 0.77× | ||
| Q3 24 | 0.22× | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $-1.2B | $47.8M |
| FCF MarginFCF / Revenue | -598.0% | 12.7% |
| Capex IntensityCapex / Revenue | 201.2% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.0B | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-802.7M | $76.9M | ||
| Q3 25 | $-199.0M | $23.1M | ||
| Q2 25 | $-163.4M | $99.0M | ||
| Q1 25 | $-215.5M | $-603.0K | ||
| Q4 24 | $-677.0M | $51.1M | ||
| Q3 24 | $-160.1M | $66.0M | ||
| Q2 24 | $-115.2M | $33.7M | ||
| Q1 24 | $-88.3M | $26.7M |
| Q4 25 | $-1.2B | $47.8M | ||
| Q3 25 | $-283.9M | $-6.2M | ||
| Q2 25 | $-282.4M | $67.4M | ||
| Q1 25 | $-254.3M | $-52.7M | ||
| Q4 24 | $-927.8M | $-32.4M | ||
| Q3 24 | $-198.1M | $9.0M | ||
| Q2 24 | $-132.4M | $-16.7M | ||
| Q1 24 | $-97.4M | $-37.9M |
| Q4 25 | -598.0% | 12.7% | ||
| Q3 25 | -112.5% | -1.6% | ||
| Q2 25 | -118.4% | 17.9% | ||
| Q1 25 | -118.9% | -15.0% | ||
| Q4 24 | -432.8% | -9.2% | ||
| Q3 24 | -150.5% | 2.5% | ||
| Q2 24 | -91.2% | -4.6% | ||
| Q1 24 | -59.0% | -11.2% |
| Q4 25 | 201.2% | 7.7% | ||
| Q3 25 | 33.6% | 7.6% | ||
| Q2 25 | 49.9% | 8.4% | ||
| Q1 25 | 18.2% | 14.9% | ||
| Q4 24 | 117.0% | 23.6% | ||
| Q3 24 | 28.9% | 15.6% | ||
| Q2 24 | 11.9% | 14.0% | ||
| Q1 24 | 5.5% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | -1.62× | 0.45× | ||
| Q2 25 | -0.20× | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | -1.28× | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | -0.26× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MARA
Segment breakdown not available.
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
