vs
Side-by-side financial comparison of Pediatrix Medical Group, Inc. (MD) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
Pediatrix Medical Group, Inc. is the larger business by last-quarter revenue ($493.8M vs $382.7M, roughly 1.3× INNOVATE Corp.). Pediatrix Medical Group, Inc. runs the higher net margin — 6.8% vs -1.9%, a 8.8% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -1.7%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs -0.1%).
Pediatrix Medical Group, Inc. is a leading U.S. specialized medical service provider focusing on maternal-fetal care, neonatology, pediatric cardiology and other pediatric subspecialties. It partners with U.S. healthcare facilities to deliver evidence-based care to women, newborns and children.
Innovate Corp. is an American public financial services company founded in 1994.
MD vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $493.8M | $382.7M |
| Net Profit | $33.7M | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | 9.9% | 3.7% |
| Net Margin | 6.8% | -1.9% |
| Revenue YoY | -1.7% | 61.7% |
| Net Profit YoY | 10.5% | 55.4% |
| EPS (diluted) | $0.40 | $-0.57 |
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 | $493.8M | $382.7M | ||
| Q3 25 | $492.9M | $347.1M | ||
| Q2 25 | $468.8M | $242.0M | ||
| Q1 25 | $458.4M | $274.2M | ||
| Q4 24 | $502.4M | $236.6M | ||
| Q3 24 | $511.2M | $242.2M | ||
| Q2 24 | $504.3M | $313.1M | ||
| Q1 24 | $495.1M | $315.2M |
| Q4 25 | $33.7M | $-7.4M | ||
| Q3 25 | $71.7M | $-8.9M | ||
| Q2 25 | $39.3M | $-19.8M | ||
| Q1 25 | $20.7M | $-24.5M | ||
| Q4 24 | $30.5M | $-16.6M | ||
| Q3 24 | $19.4M | $-15.0M | ||
| Q2 24 | $-153.0M | $14.4M | ||
| Q1 24 | $4.0M | $-17.4M |
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
| Q4 25 | 9.9% | 3.7% | ||
| Q3 25 | 13.8% | 1.8% | ||
| Q2 25 | 12.8% | 2.0% | ||
| Q1 25 | 7.0% | 1.2% | ||
| Q4 24 | 7.8% | 1.1% | ||
| Q3 24 | 6.6% | 2.4% | ||
| Q2 24 | -31.3% | 9.2% | ||
| Q1 24 | 3.2% | 0.9% |
| Q4 25 | 6.8% | -1.9% | ||
| Q3 25 | 14.5% | -2.6% | ||
| Q2 25 | 8.4% | -8.2% | ||
| Q1 25 | 4.5% | -8.9% | ||
| Q4 24 | 6.1% | -7.0% | ||
| Q3 24 | 3.8% | -6.2% | ||
| Q2 24 | -30.3% | 4.6% | ||
| Q1 24 | 0.8% | -5.5% |
| Q4 25 | $0.40 | $-0.57 | ||
| Q3 25 | $0.84 | $-0.71 | ||
| Q2 25 | $0.46 | $-1.67 | ||
| Q1 25 | $0.24 | $-1.89 | ||
| Q4 24 | $0.37 | $-0.72 | ||
| Q3 24 | $0.23 | $-1.18 | ||
| Q2 24 | $-1.84 | $1.03 | ||
| Q1 24 | $0.05 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $375.2M | $112.1M |
| Total DebtLower is stronger | $570.5M | $80.3M |
| Stockholders' EquityBook value | $865.9M | $-240.1M |
| Total Assets | $2.2B | $950.1M |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $375.2M | $112.1M | ||
| Q3 25 | $340.1M | $35.5M | ||
| Q2 25 | $224.7M | $33.4M | ||
| Q1 25 | $99.0M | $33.3M | ||
| Q4 24 | $229.9M | $48.8M | ||
| Q3 24 | $103.8M | $51.0M | ||
| Q2 24 | $19.4M | $80.2M | ||
| Q1 24 | $8.0M | $38.4M |
| Q4 25 | $570.5M | $80.3M | ||
| Q3 25 | $577.2M | $97.3M | ||
| Q2 25 | $583.9M | $160.1M | ||
| Q1 25 | $590.5M | $139.9M | ||
| Q4 24 | $597.1M | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $865.9M | $-240.1M | ||
| Q3 25 | $890.7M | $-233.3M | ||
| Q2 25 | $833.8M | $-224.8M | ||
| Q1 25 | $789.2M | $-204.2M | ||
| Q4 24 | $764.9M | $-180.4M | ||
| Q3 24 | $732.5M | $-163.1M | ||
| Q2 24 | $706.5M | $-149.0M | ||
| Q1 24 | $856.2M | $-184.4M |
| Q4 25 | $2.2B | $950.1M | ||
| Q3 25 | $2.2B | $913.2M | ||
| Q2 25 | $2.1B | $890.9M | ||
| Q1 25 | $2.0B | $868.0M | ||
| Q4 24 | $2.2B | $891.1M | ||
| Q3 24 | $2.1B | $897.2M | ||
| Q2 24 | $2.0B | $898.9M | ||
| Q1 24 | $2.2B | $943.5M |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | — | — | ||
| 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 | $114.1M | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.39× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.1M | $101.1M | ||
| Q3 25 | $137.3M | $19.2M | ||
| Q2 25 | $137.2M | $40.4M | ||
| Q1 25 | $-117.5M | $-14.1M | ||
| Q4 24 | $133.0M | $41.4M | ||
| Q3 24 | $91.8M | $-28.4M | ||
| Q2 24 | $107.0M | $21.5M | ||
| Q1 24 | $-125.2M | $-25.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | — | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | 3.39× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 3.49× | — | ||
| Q1 25 | -5.66× | — | ||
| Q4 24 | 4.36× | — | ||
| Q3 24 | 4.72× | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | -31.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
