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Side-by-side financial comparison of MBIA INC (MBI) and Sol-Gel Technologies Ltd. (SLGL). Click either name above to swap in a different company.

MBIA INC is the larger business by last-quarter revenue ($28.0M vs $17.3M, roughly 1.6× Sol-Gel Technologies Ltd.). Sol-Gel Technologies Ltd. runs the higher net margin — 67.3% vs -182.1%, a 249.4% gap on every dollar of revenue. On growth, Sol-Gel Technologies Ltd. posted the faster year-over-year revenue change (217.7% vs -24.3%).

MBIA Inc. is an American financial services company. It was founded in 1973 as the Municipal Bond Insurance Association. It is headquartered in Purchase, New York, and as of January 1, 2015 had approximately 180 employees. MBIA is the largest bond insurer.

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.

MBI vs SLGL — Head-to-Head

Bigger by revenue
MBI
MBI
1.6× larger
MBI
$28.0M
$17.3M
SLGL
Growing faster (revenue YoY)
SLGL
SLGL
+242.0% gap
SLGL
217.7%
-24.3%
MBI
Higher net margin
SLGL
SLGL
249.4% more per $
SLGL
67.3%
-182.1%
MBI

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
MBI
MBI
SLGL
SLGL
Revenue
$28.0M
$17.3M
Net Profit
$-51.0M
$11.6M
Gross Margin
Operating Margin
-200.0%
65.1%
Net Margin
-182.1%
67.3%
Revenue YoY
-24.3%
217.7%
Net Profit YoY
-106.1%
487.6%
EPS (diluted)
$-1.01
$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
MBI
MBI
SLGL
SLGL
Q4 25
$28.0M
Q3 25
$15.0M
Q2 25
$23.0M
$17.3M
Q1 25
$14.0M
Q4 24
$37.0M
Q3 24
$29.0M
Q2 24
$-37.0M
$5.4M
Q1 24
$13.0M
Net Profit
MBI
MBI
SLGL
SLGL
Q4 25
$-51.0M
Q3 25
$-8.0M
Q2 25
$-56.0M
$11.6M
Q1 25
$-62.0M
Q4 24
$831.0M
Q3 24
$-56.0M
Q2 24
$-254.0M
$2.0M
Q1 24
$-86.0M
Operating Margin
MBI
MBI
SLGL
SLGL
Q4 25
-200.0%
Q3 25
-46.7%
Q2 25
-243.5%
65.1%
Q1 25
-442.9%
Q4 24
-135.1%
Q3 24
-175.9%
Q2 24
683.8%
29.9%
Q1 24
-669.2%
Net Margin
MBI
MBI
SLGL
SLGL
Q4 25
-182.1%
Q3 25
-53.3%
Q2 25
-243.5%
67.3%
Q1 25
-442.9%
Q4 24
2245.9%
Q3 24
-193.1%
Q2 24
686.5%
36.4%
Q1 24
-661.5%
EPS (diluted)
MBI
MBI
SLGL
SLGL
Q4 25
$-1.01
Q3 25
$-0.17
Q2 25
$-1.12
$4.17
Q1 25
$-1.28
Q4 24
$-1.07
Q3 24
$-1.18
Q2 24
$-5.34
$0.71
Q1 24
$-1.84

Balance Sheet & Financial Strength

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

Metric
MBI
MBI
SLGL
SLGL
Cash + ST InvestmentsLiquidity on hand
$24.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$-2.2B
$31.9M
Total Assets
$2.0B
$39.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MBI
MBI
SLGL
SLGL
Q4 25
Q3 25
Q2 25
$24.3M
Q1 25
Q4 24
Q3 24
Q2 24
$26.5M
Q1 24
Stockholders' Equity
MBI
MBI
SLGL
SLGL
Q4 25
$-2.2B
Q3 25
$-2.2B
Q2 25
$-2.2B
$31.9M
Q1 25
$-2.1B
Q4 24
$-2.1B
Q3 24
$-2.0B
Q2 24
$-2.0B
$34.9M
Q1 24
$-1.7B
Total Assets
MBI
MBI
SLGL
SLGL
Q4 25
$2.0B
Q3 25
$2.1B
Q2 25
$2.1B
$39.3M
Q1 25
$2.1B
Q4 24
$2.2B
Q3 24
$2.2B
Q2 24
$2.3B
$42.0M
Q1 24
$2.5B

Cash Flow & Capital Efficiency

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

Metric
MBI
MBI
SLGL
SLGL
Operating Cash FlowLast quarter
$38.0M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MBI
MBI
SLGL
SLGL
Q4 25
$38.0M
Q3 25
$90.0M
Q2 25
$1.0M
Q1 25
$-43.0M
Q4 24
$-176.0M
Q3 24
$-139.0M
Q2 24
$-10.0M
Q1 24
$-30.0M
Cash Conversion
MBI
MBI
SLGL
SLGL
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
-0.21×
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

MBI
MBI

US Public Finance Insurance$15.0M54%
Corporate Operations$7.0M25%
International And Structured Finance Insurance$5.0M18%
Other$1.0M4%

SLGL
SLGL

Segment breakdown not available.

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