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Side-by-side financial comparison of Maiden Holdings, Ltd. (MHLA) and XCF Global, Inc. (SAFX). Click either name above to swap in a different company.

Maiden Holdings, Ltd. is the larger business by last-quarter revenue ($14.0M vs $9.6M, roughly 1.5× XCF Global, Inc.). Maiden Holdings, Ltd. runs the higher net margin — -61.5% vs -131.0%, a 69.5% gap on every dollar of revenue.

Maiden Holdings Ltd. is a Bermuda based holding company with insurance subsidiaries that provides specialty reinsurance products for the global property and casualty market. The company has operating subsidiaries in the United States, Europe, and Bermuda.

MHLA vs SAFX — Head-to-Head

Bigger by revenue
MHLA
MHLA
1.5× larger
MHLA
$14.0M
$9.6M
SAFX
Higher net margin
MHLA
MHLA
69.5% more per $
MHLA
-61.5%
-131.0%
SAFX

Income Statement — Q1 FY2025 vs Q3 FY2025

Metric
MHLA
MHLA
SAFX
SAFX
Revenue
$14.0M
$9.6M
Net Profit
$-8.6M
$-12.5M
Gross Margin
35.0%
Operating Margin
-42.1%
-90.3%
Net Margin
-61.5%
-131.0%
Revenue YoY
-51.4%
Net Profit YoY
-692.5%
EPS (diluted)
$-0.09
$-0.08

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
MHLA
MHLA
SAFX
SAFX
Q3 25
$9.6M
Q1 25
$14.0M
Q4 24
$11.6M
Q3 24
$14.5M
Q2 24
$20.5M
Q1 24
$28.9M
Q4 23
$25.2M
Q3 23
$21.8M
Net Profit
MHLA
MHLA
SAFX
SAFX
Q3 25
$-12.5M
Q1 25
$-8.6M
Q4 24
$-158.0M
Q3 24
$-34.5M
Q2 24
$-10.0M
Q1 24
$1.5M
Q4 23
$-20.8M
Q3 23
$-3.5M
Gross Margin
MHLA
MHLA
SAFX
SAFX
Q3 25
35.0%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Q4 23
Q3 23
Operating Margin
MHLA
MHLA
SAFX
SAFX
Q3 25
-90.3%
Q1 25
-42.1%
Q4 24
2103.0%
Q3 24
-243.1%
Q2 24
-53.7%
Q1 24
3.0%
Q4 23
-84.2%
Q3 23
-26.4%
Net Margin
MHLA
MHLA
SAFX
SAFX
Q3 25
-131.0%
Q1 25
-61.5%
Q4 24
2125.8%
Q3 24
-238.1%
Q2 24
-48.7%
Q1 24
5.0%
Q4 23
-82.4%
Q3 23
-16.2%
EPS (diluted)
MHLA
MHLA
SAFX
SAFX
Q3 25
$-0.08
Q1 25
$-0.09
Q4 24
$-1.57
Q3 24
$-0.35
Q2 24
$-0.10
Q1 24
$0.01
Q4 23
$-0.21
Q3 23
$-0.03

Balance Sheet & Financial Strength

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

Metric
MHLA
MHLA
SAFX
SAFX
Cash + ST InvestmentsLiquidity on hand
$28.7M
$879.2K
Total DebtLower is stronger
$254.8M
$122.8M
Stockholders' EquityBook value
$37.6M
$5.2M
Total Assets
$1.2B
$408.7M
Debt / EquityLower = less leverage
6.78×
23.55×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MHLA
MHLA
SAFX
SAFX
Q3 25
$879.2K
Q1 25
$28.7M
Q4 24
$25.7M
Q3 24
$110.0M
Q2 24
$24.8M
Q1 24
$20.7M
Q4 23
$35.4M
Q3 23
$17.9M
Total Debt
MHLA
MHLA
SAFX
SAFX
Q3 25
$122.8M
Q1 25
$254.8M
Q4 24
$254.8M
Q3 24
$254.7M
Q2 24
$254.7M
Q1 24
$254.6M
Q4 23
$254.6M
Q3 23
$254.6M
Stockholders' Equity
MHLA
MHLA
SAFX
SAFX
Q3 25
$5.2M
Q1 25
$37.6M
Q4 24
$45.2M
Q3 24
$208.2M
Q2 24
$238.0M
Q1 24
$249.4M
Q4 23
$249.2M
Q3 23
$263.2M
Total Assets
MHLA
MHLA
SAFX
SAFX
Q3 25
$408.7M
Q1 25
$1.2B
Q4 24
$1.3B
Q3 24
$1.4B
Q2 24
$1.4B
Q1 24
$1.5B
Q4 23
$1.5B
Q3 23
$1.6B
Debt / Equity
MHLA
MHLA
SAFX
SAFX
Q3 25
23.55×
Q1 25
6.78×
Q4 24
5.64×
Q3 24
1.22×
Q2 24
1.07×
Q1 24
1.02×
Q4 23
1.02×
Q3 23
0.97×

Cash Flow & Capital Efficiency

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

Metric
MHLA
MHLA
SAFX
SAFX
Operating Cash FlowLast quarter
$-21.1M
$-13.8M
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
MHLA
MHLA
SAFX
SAFX
Q3 25
$-13.8M
Q1 25
$-21.1M
Q4 24
$-67.4M
Q3 24
$-3.8M
Q2 24
$-23.4M
Q1 24
$8.0M
Q4 23
$6.2M
Q3 23
$-2.3M
Cash Conversion
MHLA
MHLA
SAFX
SAFX
Q3 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
5.52×
Q4 23
Q3 23

Financial Flow Comparison

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

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