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Side-by-side financial comparison of TPG Mortgage Investment Trust, Inc. (MITT) and Avidity Biosciences, Inc. (RNA). Click either name above to swap in a different company.

TPG Mortgage Investment Trust, Inc. is the larger business by last-quarter revenue ($20.4M vs $12.5M, roughly 1.6× Avidity Biosciences, Inc.). TPG Mortgage Investment Trust, Inc. runs the higher net margin — 65.0% vs -1398.3%, a 1463.3% gap on every dollar of revenue. On growth, Avidity Biosciences, Inc. posted the faster year-over-year revenue change (434.0% vs 17.7%). Over the past eight quarters, Avidity Biosciences, Inc.'s revenue compounded faster (138.5% CAGR vs 9.1%).

TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.

Eli Lilly and Company, doing business as Lilly, is an American multinational pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union army veteran during the American Civil War for whom the company was later named.

MITT vs RNA — Head-to-Head

Bigger by revenue
MITT
MITT
1.6× larger
MITT
$20.4M
$12.5M
RNA
Growing faster (revenue YoY)
RNA
RNA
+416.4% gap
RNA
434.0%
17.7%
MITT
Higher net margin
MITT
MITT
1463.3% more per $
MITT
65.0%
-1398.3%
RNA
Faster 2-yr revenue CAGR
RNA
RNA
Annualised
RNA
138.5%
9.1%
MITT

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
MITT
MITT
RNA
RNA
Revenue
$20.4M
$12.5M
Net Profit
$13.3M
$-174.4M
Gross Margin
Operating Margin
67.1%
-1513.5%
Net Margin
65.0%
-1398.3%
Revenue YoY
17.7%
434.0%
Net Profit YoY
-7.0%
-117.0%
EPS (diluted)
$0.27
$-1.27

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
MITT
MITT
RNA
RNA
Q4 25
$20.4M
Q3 25
$19.5M
$12.5M
Q2 25
$17.8M
$3.8M
Q1 25
$18.8M
$1.6M
Q4 24
$17.4M
$3.0M
Q3 24
$14.9M
$2.3M
Q2 24
$16.4M
$2.0M
Q1 24
$17.2M
$3.5M
Net Profit
MITT
MITT
RNA
RNA
Q4 25
$13.3M
Q3 25
$20.0M
$-174.4M
Q2 25
$3.9M
$-157.3M
Q1 25
$11.5M
$-115.8M
Q4 24
$14.3M
$-102.3M
Q3 24
$16.6M
$-80.4M
Q2 24
$3.9M
$-70.8M
Q1 24
$20.9M
$-68.9M
Operating Margin
MITT
MITT
RNA
RNA
Q4 25
67.1%
Q3 25
-1513.5%
Q2 25
20.9%
-4448.7%
Q1 25
54.6%
-8360.9%
Q4 24
76.7%
-4069.6%
Q3 24
-4200.9%
Q2 24
18.4%
-4040.4%
Q1 24
-2178.6%
Net Margin
MITT
MITT
RNA
RNA
Q4 25
65.0%
Q3 25
102.5%
-1398.3%
Q2 25
22.2%
-4089.3%
Q1 25
60.9%
-7360.0%
Q4 24
82.2%
-3439.5%
Q3 24
111.3%
-3441.7%
Q2 24
24.0%
-3461.8%
Q1 24
121.6%
-1943.4%
EPS (diluted)
MITT
MITT
RNA
RNA
Q4 25
$0.27
Q3 25
$0.47
$-1.27
Q2 25
$-0.05
$-1.21
Q1 25
$0.21
$-0.90
Q4 24
$0.30
$-0.80
Q3 24
$0.40
$-0.65
Q2 24
$-0.02
$-0.65
Q1 24
$0.55
$-0.79

Balance Sheet & Financial Strength

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

Metric
MITT
MITT
RNA
RNA
Cash + ST InvestmentsLiquidity on hand
$57.8M
$350.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$560.7M
$1.9B
Total Assets
$8.7B
$2.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MITT
MITT
RNA
RNA
Q4 25
$57.8M
Q3 25
$59.0M
$350.2M
Q2 25
$88.7M
$243.9M
Q1 25
$115.5M
$254.2M
Q4 24
$118.7M
$219.9M
Q3 24
$102.5M
$370.2M
Q2 24
$120.9M
$575.8M
Q1 24
$100.3M
$471.4M
Stockholders' Equity
MITT
MITT
RNA
RNA
Q4 25
$560.7M
Q3 25
$559.8M
$1.9B
Q2 25
$536.4M
$1.2B
Q1 25
$543.9M
$1.3B
Q4 24
$543.4M
$1.4B
Q3 24
$540.1M
$1.5B
Q2 24
$533.5M
$1.2B
Q1 24
$539.6M
$830.9M
Total Assets
MITT
MITT
RNA
RNA
Q4 25
$8.7B
Q3 25
$9.0B
$2.1B
Q2 25
$7.5B
$1.4B
Q1 25
$7.3B
$1.5B
Q4 24
$6.9B
$1.6B
Q3 24
$7.0B
$1.6B
Q2 24
$7.1B
$1.3B
Q1 24
$6.4B
$951.5M

Cash Flow & Capital Efficiency

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

Metric
MITT
MITT
RNA
RNA
Operating Cash FlowLast quarter
$59.6M
$-156.2M
Free Cash FlowOCF − Capex
$-156.9M
FCF MarginFCF / Revenue
-1257.6%
Capex IntensityCapex / Revenue
5.7%
Cash ConversionOCF / Net Profit
4.48×
TTM Free Cash FlowTrailing 4 quarters
$-592.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MITT
MITT
RNA
RNA
Q4 25
$59.6M
Q3 25
$17.4M
$-156.2M
Q2 25
$11.5M
$-199.7M
Q1 25
$12.0M
$-124.8M
Q4 24
$55.8M
$-99.9M
Q3 24
$14.5M
$-65.6M
Q2 24
$13.7M
$-65.0M
Q1 24
$12.0M
$-70.4M
Free Cash Flow
MITT
MITT
RNA
RNA
Q4 25
Q3 25
$-156.9M
Q2 25
$-203.0M
Q1 25
$-128.6M
Q4 24
$-103.8M
Q3 24
$-67.3M
Q2 24
$-65.5M
Q1 24
$-71.3M
FCF Margin
MITT
MITT
RNA
RNA
Q4 25
Q3 25
-1257.6%
Q2 25
-5277.1%
Q1 25
-8174.3%
Q4 24
-3491.0%
Q3 24
-2881.8%
Q2 24
-3204.6%
Q1 24
-2012.3%
Capex Intensity
MITT
MITT
RNA
RNA
Q4 25
Q3 25
5.7%
Q2 25
86.9%
Q1 25
238.6%
Q4 24
131.7%
Q3 24
72.9%
Q2 24
26.0%
Q1 24
25.8%
Cash Conversion
MITT
MITT
RNA
RNA
Q4 25
4.48×
Q3 25
0.87×
Q2 25
2.92×
Q1 25
1.05×
Q4 24
3.91×
Q3 24
0.87×
Q2 24
3.50×
Q1 24
0.57×

Financial Flow Comparison

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

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