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Side-by-side financial comparison of MIDDLEFIELD BANC CORP (MBCN) and Sol-Gel Technologies Ltd. (SLGL). Click either name above to swap in a different company.

MIDDLEFIELD BANC CORP is the larger business by last-quarter revenue ($19.9M vs $17.3M, roughly 1.2× Sol-Gel Technologies Ltd.). Sol-Gel Technologies Ltd. runs the higher net margin — 67.3% vs 26.7%, a 40.5% gap on every dollar of revenue. On growth, Sol-Gel Technologies Ltd. posted the faster year-over-year revenue change (217.7% vs 18.3%).

Star Banc Corporation was a Cincinnati, Ohio-based regional bank holding company that acquired Firstar in 1998 and took the Firstar name; the merged bank acquired U.S. Bancorp in 2001 and took the U.S. Bancorp name. The company can trace its origins back to 1863 when it was first founded as the First National Bank of Cincinnati.

Sol-Gel Technologies Ltd. is a specialty biopharmaceutical company focused on developing and commercializing innovative dermatology treatments. Leveraging its proprietary sol-gel delivery technology, it creates topical therapies for common skin conditions including acne, rosacea and atopic dermatitis, with primary markets across North America and Europe, partnering with established healthcare firms to expand product reach.

MBCN vs SLGL — Head-to-Head

Bigger by revenue
MBCN
MBCN
1.2× larger
MBCN
$19.9M
$17.3M
SLGL
Growing faster (revenue YoY)
SLGL
SLGL
+199.4% gap
SLGL
217.7%
18.3%
MBCN
Higher net margin
SLGL
SLGL
40.5% more per $
SLGL
67.3%
26.7%
MBCN

Income Statement — Q3 FY2025 vs Q2 FY2025

Metric
MBCN
MBCN
SLGL
SLGL
Revenue
$19.9M
$17.3M
Net Profit
$5.3M
$11.6M
Gross Margin
Operating Margin
32.2%
65.1%
Net Margin
26.7%
67.3%
Revenue YoY
18.3%
217.7%
Net Profit YoY
127.4%
487.6%
EPS (diluted)
$0.65
$4.17

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.

Revenue
MBCN
MBCN
SLGL
SLGL
Q3 25
$19.9M
Q2 25
$20.5M
$17.3M
Q1 25
$18.0M
Q4 24
$17.5M
Q3 24
$16.8M
Q2 24
$16.8M
$5.4M
Q1 24
$16.8M
Q4 23
$15.4M
Net Profit
MBCN
MBCN
SLGL
SLGL
Q3 25
$5.3M
Q2 25
$6.2M
$11.6M
Q1 25
$4.8M
Q4 24
$4.8M
Q3 24
$2.3M
Q2 24
$4.2M
$2.0M
Q1 24
$4.2M
Q4 23
$3.5M
Operating Margin
MBCN
MBCN
SLGL
SLGL
Q3 25
32.2%
Q2 25
35.9%
65.1%
Q1 25
31.9%
Q4 24
33.4%
Q3 24
16.1%
Q2 24
28.8%
29.9%
Q1 24
29.4%
Q4 23
27.7%
Net Margin
MBCN
MBCN
SLGL
SLGL
Q3 25
26.7%
Q2 25
30.0%
67.3%
Q1 25
26.8%
Q4 24
27.8%
Q3 24
13.9%
Q2 24
24.7%
36.4%
Q1 24
24.9%
Q4 23
23.0%
EPS (diluted)
MBCN
MBCN
SLGL
SLGL
Q3 25
$0.65
Q2 25
$0.76
$4.17
Q1 25
$0.60
Q4 24
$0.60
Q3 24
$0.29
Q2 24
$0.52
$0.71
Q1 24
$0.51
Q4 23
$0.44

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
MBCN
MBCN
SLGL
SLGL
Cash + ST InvestmentsLiquidity on hand
$24.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$224.1M
$31.9M
Total Assets
$2.0B
$39.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MBCN
MBCN
SLGL
SLGL
Q3 25
Q2 25
$24.3M
Q1 25
Q4 24
Q3 24
Q2 24
$26.5M
Q1 24
Q4 23
Stockholders' Equity
MBCN
MBCN
SLGL
SLGL
Q3 25
$224.1M
Q2 25
$216.1M
$31.9M
Q1 25
$213.8M
Q4 24
$210.6M
Q3 24
$210.7M
Q2 24
$206.8M
$34.9M
Q1 24
$205.6M
Q4 23
$205.7M
Total Assets
MBCN
MBCN
SLGL
SLGL
Q3 25
$2.0B
Q2 25
$1.9B
$39.3M
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$1.9B
Q2 24
$1.8B
$42.0M
Q1 24
$1.8B
Q4 23
$1.8B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
MBCN
MBCN
SLGL
SLGL
Operating Cash FlowLast quarter
$4.8M
Free Cash FlowOCF − Capex
$3.4M
FCF MarginFCF / Revenue
17.0%
Capex IntensityCapex / Revenue
7.2%
Cash ConversionOCF / Net Profit
0.91×
TTM Free Cash FlowTrailing 4 quarters
$32.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MBCN
MBCN
SLGL
SLGL
Q3 25
$4.8M
Q2 25
$4.8M
Q1 25
$8.0M
Q4 24
$17.5M
Q3 24
$6.0M
Q2 24
$3.4M
Q1 24
$5.4M
Q4 23
$7.7M
Free Cash Flow
MBCN
MBCN
SLGL
SLGL
Q3 25
$3.4M
Q2 25
$4.2M
Q1 25
$7.7M
Q4 24
$16.7M
Q3 24
$5.8M
Q2 24
$3.3M
Q1 24
$5.3M
Q4 23
$7.7M
FCF Margin
MBCN
MBCN
SLGL
SLGL
Q3 25
17.0%
Q2 25
20.5%
Q1 25
42.9%
Q4 24
95.6%
Q3 24
34.7%
Q2 24
19.3%
Q1 24
31.9%
Q4 23
50.1%
Capex Intensity
MBCN
MBCN
SLGL
SLGL
Q3 25
7.2%
Q2 25
3.0%
Q1 25
1.5%
Q4 24
4.4%
Q3 24
1.0%
Q2 24
0.6%
Q1 24
0.5%
Q4 23
0.2%
Cash Conversion
MBCN
MBCN
SLGL
SLGL
Q3 25
0.91×
Q2 25
0.78×
Q1 25
1.66×
Q4 24
3.60×
Q3 24
2.57×
Q2 24
0.81×
Q1 24
1.31×
Q4 23
2.18×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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