vs
Side-by-side financial comparison of MASIMO CORP (MASI) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
TRUPANION, INC. is the larger business by last-quarter revenue ($376.9M vs $371.5M, roughly 1.0× MASIMO CORP). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs -26.4%). MASIMO CORP produced more free cash flow last quarter ($50.9M vs $25.3M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
MASI vs TRUP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $376.9M |
| Net Profit | $-100.4M | — |
| Gross Margin | 62.1% | 17.3% |
| Operating Margin | 22.5% | 1.9% |
| Net Margin | -27.0% | — |
| Revenue YoY | -26.4% | 11.7% |
| Net Profit YoY | -1124.5% | — |
| EPS (diluted) | $-1.84 | $0.13 |
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 | — | $376.9M | ||
| Q3 25 | $371.5M | $366.9M | ||
| Q2 25 | $370.9M | $353.6M | ||
| Q1 25 | $372.0M | $342.0M | ||
| Q4 24 | $600.7M | $337.3M | ||
| Q3 24 | $504.6M | $327.5M | ||
| Q2 24 | $496.3M | $314.8M | ||
| Q1 24 | $492.8M | $306.1M |
| Q4 25 | — | — | ||
| Q3 25 | $-100.4M | — | ||
| Q2 25 | $51.3M | — | ||
| Q1 25 | $-170.7M | — | ||
| Q4 24 | $-349.6M | — | ||
| Q3 24 | $9.8M | — | ||
| Q2 24 | $16.0M | — | ||
| Q1 24 | $18.9M | — |
| Q4 25 | — | 17.3% | ||
| Q3 25 | 62.1% | 16.4% | ||
| Q2 25 | 62.9% | 15.5% | ||
| Q1 25 | 62.9% | 14.9% | ||
| Q4 24 | 40.7% | 15.7% | ||
| Q3 24 | 52.2% | 15.1% | ||
| Q2 24 | 51.3% | 12.8% | ||
| Q1 24 | 49.0% | 11.8% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | 22.5% | 1.6% | ||
| Q2 25 | 17.4% | 0.7% | ||
| Q1 25 | 21.0% | -0.4% | ||
| Q4 24 | -59.8% | 0.1% | ||
| Q3 24 | 6.0% | 0.5% | ||
| Q2 24 | 5.7% | -1.7% | ||
| Q1 24 | 6.9% | -2.0% |
| Q4 25 | — | — | ||
| Q3 25 | -27.0% | — | ||
| Q2 25 | 13.8% | — | ||
| Q1 25 | -45.9% | — | ||
| Q4 24 | -58.2% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.8% | — |
| Q4 25 | — | $0.13 | ||
| Q3 25 | $-1.84 | $0.13 | ||
| Q2 25 | $0.94 | $0.22 | ||
| Q1 25 | $-3.12 | $-0.03 | ||
| Q4 24 | $-6.54 | $0.04 | ||
| Q3 24 | $0.18 | $0.03 | ||
| Q2 24 | $0.29 | $-0.14 | ||
| Q1 24 | $0.35 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $312.3M | $370.7M |
| Total DebtLower is stronger | $559.1M | $101.8M |
| Stockholders' EquityBook value | $810.0M | $383.9M |
| Total Assets | $1.8B | $915.0M |
| Debt / EquityLower = less leverage | 0.69× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $370.7M | ||
| Q3 25 | $312.3M | $348.5M | ||
| Q2 25 | $149.6M | $319.6M | ||
| Q1 25 | $130.8M | $321.8M | ||
| Q4 24 | $177.6M | $307.4M | ||
| Q3 24 | $158.5M | $293.1M | ||
| Q2 24 | $129.6M | $277.2M | ||
| Q1 24 | $157.6M | $275.2M |
| Q4 25 | — | $101.8M | ||
| Q3 25 | $559.1M | — | ||
| Q2 25 | $613.7M | — | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | $127.5M | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — | ||
| Q1 24 | $876.0M | — |
| Q4 25 | — | $383.9M | ||
| Q3 25 | $810.0M | $368.6M | ||
| Q2 25 | $1.0B | $355.5M | ||
| Q1 25 | $946.4M | $333.7M | ||
| Q4 24 | $1.1B | $323.3M | ||
| Q3 24 | $1.5B | $320.2M | ||
| Q2 24 | $1.4B | $305.8M | ||
| Q1 24 | $1.4B | $303.4M |
| Q4 25 | — | $915.0M | ||
| Q3 25 | $1.8B | $880.2M | ||
| Q2 25 | $2.4B | $847.8M | ||
| Q1 25 | $2.3B | $837.2M | ||
| Q4 24 | $2.6B | $806.9M | ||
| Q3 24 | $3.1B | $816.1M | ||
| Q2 24 | $2.9B | $795.9M | ||
| Q1 24 | $3.0B | $789.5M |
| Q4 25 | — | 0.27× | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | 0.39× | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — |
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 | $56.8M | $29.3M |
| Free Cash FlowOCF − Capex | $50.9M | $25.3M |
| FCF MarginFCF / Revenue | 13.7% | 6.7% |
| Capex IntensityCapex / Revenue | 1.6% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $29.3M | ||
| Q3 25 | $56.8M | $29.2M | ||
| Q2 25 | $69.4M | $15.0M | ||
| Q1 25 | $31.1M | $16.0M | ||
| Q4 24 | $50.5M | $23.7M | ||
| Q3 24 | $25.6M | $15.3M | ||
| Q2 24 | $74.5M | $6.9M | ||
| Q1 24 | $45.8M | $2.4M |
| Q4 25 | — | $25.3M | ||
| Q3 25 | $50.9M | $23.9M | ||
| Q2 25 | $65.6M | $12.0M | ||
| Q1 25 | $28.5M | $14.0M | ||
| Q4 24 | $46.0M | $21.8M | ||
| Q3 24 | $16.9M | $13.4M | ||
| Q2 24 | $66.9M | $4.0M | ||
| Q1 24 | $37.6M | $-631.0K |
| Q4 25 | — | 6.7% | ||
| Q3 25 | 13.7% | 6.5% | ||
| Q2 25 | 17.7% | 3.4% | ||
| Q1 25 | 7.7% | 4.1% | ||
| Q4 24 | 7.7% | 6.5% | ||
| Q3 24 | 3.3% | 4.1% | ||
| Q2 24 | 13.5% | 1.3% | ||
| Q1 24 | 7.6% | -0.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 1.0% | 0.8% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 0.7% | 0.6% | ||
| Q3 24 | 1.7% | 0.6% | ||
| Q2 24 | 1.5% | 0.9% | ||
| Q1 24 | 1.7% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.61× | — | ||
| Q2 24 | 4.66× | — | ||
| Q1 24 | 2.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MASI
Segment breakdown not available.
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
