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Side-by-side financial comparison of MARINE PRODUCTS CORP (MPX) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $64.6M, roughly 1.5× MARINE PRODUCTS CORP). MARINE PRODUCTS CORP runs the higher net margin — 3.7% vs -7.0%, a 10.7% gap on every dollar of revenue. On growth, MARINE PRODUCTS CORP posted the faster year-over-year revenue change (35.0% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $4.1M). Over the past eight quarters, MARINE PRODUCTS CORP's revenue compounded faster (-3.5% CAGR vs -4.9%).
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
MPX vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $100.0M |
| Net Profit | $2.4M | $-7.0M |
| Gross Margin | 19.6% | 28.0% |
| Operating Margin | 5.8% | -10.7% |
| Net Margin | 3.7% | -7.0% |
| Revenue YoY | 35.0% | 14.5% |
| Net Profit YoY | -44.6% | 76.0% |
| EPS (diluted) | $0.07 | $-0.06 |
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 | $64.6M | $100.0M | ||
| Q3 25 | $53.1M | $161.9M | ||
| Q2 25 | $67.7M | $172.6M | ||
| Q1 25 | $59.0M | $111.4M | ||
| Q4 24 | $47.8M | $87.3M | ||
| Q3 24 | $49.9M | $150.5M | ||
| Q2 24 | $69.5M | $160.1M | ||
| Q1 24 | $69.3M | $110.6M |
| Q4 25 | $2.4M | $-7.0M | ||
| Q3 25 | $2.6M | $8.1M | ||
| Q2 25 | $4.2M | $16.0M | ||
| Q1 25 | $2.2M | $-6.0M | ||
| Q4 24 | $4.3M | $-29.2M | ||
| Q3 24 | $3.4M | $5.9M | ||
| Q2 24 | $5.6M | $13.3M | ||
| Q1 24 | $4.6M | $-7.9M |
| Q4 25 | 19.6% | 28.0% | ||
| Q3 25 | 19.2% | 35.4% | ||
| Q2 25 | 19.1% | 37.1% | ||
| Q1 25 | 18.6% | 29.5% | ||
| Q4 24 | 19.2% | 24.6% | ||
| Q3 24 | 18.4% | 32.4% | ||
| Q2 24 | 18.9% | 33.1% | ||
| Q1 24 | 20.2% | 27.7% |
| Q4 25 | 5.8% | -10.7% | ||
| Q3 25 | 5.4% | 13.3% | ||
| Q2 25 | 7.1% | 14.3% | ||
| Q1 25 | 4.4% | -4.4% | ||
| Q4 24 | 7.7% | -14.9% | ||
| Q3 24 | 7.2% | 8.9% | ||
| Q2 24 | 8.3% | 12.5% | ||
| Q1 24 | 7.6% | -1.9% |
| Q4 25 | 3.7% | -7.0% | ||
| Q3 25 | 5.0% | 5.0% | ||
| Q2 25 | 6.1% | 9.3% | ||
| Q1 25 | 3.7% | -5.4% | ||
| Q4 24 | 8.9% | -33.4% | ||
| Q3 24 | 6.8% | 3.9% | ||
| Q2 24 | 8.0% | 8.3% | ||
| Q1 24 | 6.6% | -7.1% |
| Q4 25 | $0.07 | $-0.06 | ||
| Q3 25 | $0.07 | $0.07 | ||
| Q2 25 | $0.12 | $0.13 | ||
| Q1 25 | $0.06 | $-0.05 | ||
| Q4 24 | $0.13 | $-0.24 | ||
| Q3 24 | $0.10 | $0.05 | ||
| Q2 24 | $0.14 | $0.11 | ||
| Q1 24 | $0.13 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $125.0M | $405.9M |
| Total Assets | $147.2M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $125.0M | $405.9M | ||
| Q3 25 | $126.3M | $408.4M | ||
| Q2 25 | $127.2M | $398.4M | ||
| Q1 25 | $126.4M | $381.1M | ||
| Q4 24 | $129.0M | $387.2M | ||
| Q3 24 | $128.8M | $416.6M | ||
| Q2 24 | $129.3M | $408.1M | ||
| Q1 24 | $151.4M | $391.8M |
| Q4 25 | $147.2M | $823.2M | ||
| Q3 25 | $179.5M | $844.4M | ||
| Q2 25 | $173.2M | $822.1M | ||
| Q1 25 | $182.9M | $824.6M | ||
| Q4 24 | $171.2M | $794.2M | ||
| Q3 24 | $176.3M | $853.4M | ||
| Q2 24 | $175.7M | $830.0M | ||
| Q1 24 | $204.0M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $4.7M | $23.3M |
| Free Cash FlowOCF − Capex | $4.1M | $14.1M |
| FCF MarginFCF / Revenue | 6.4% | 14.1% |
| Capex IntensityCapex / Revenue | 0.9% | 9.2% |
| Cash ConversionOCF / Net Profit | 2.00× | — |
| TTM Free Cash FlowTrailing 4 quarters | $14.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.7M | $23.3M | ||
| Q3 25 | $2.6M | $51.0M | ||
| Q2 25 | $-1.6M | $36.0M | ||
| Q1 25 | $10.8M | $-46.9M | ||
| Q4 24 | $4.6M | $6.2M | ||
| Q3 24 | $5.1M | $37.2M | ||
| Q2 24 | $3.8M | $52.4M | ||
| Q1 24 | $15.9M | $-34.5M |
| Q4 25 | $4.1M | $14.1M | ||
| Q3 25 | $2.1M | $45.2M | ||
| Q2 25 | $-2.0M | $29.1M | ||
| Q1 25 | $10.7M | $-50.3M | ||
| Q4 24 | $3.6M | $-98.0K | ||
| Q3 24 | $3.2M | $33.2M | ||
| Q2 24 | $3.0M | $47.9M | ||
| Q1 24 | $15.0M | $-39.9M |
| Q4 25 | 6.4% | 14.1% | ||
| Q3 25 | 4.0% | 27.9% | ||
| Q2 25 | -3.0% | 16.8% | ||
| Q1 25 | 18.1% | -45.2% | ||
| Q4 24 | 7.6% | -0.1% | ||
| Q3 24 | 6.5% | 22.1% | ||
| Q2 24 | 4.4% | 29.9% | ||
| Q1 24 | 21.7% | -36.0% |
| Q4 25 | 0.9% | 9.2% | ||
| Q3 25 | 0.8% | 3.6% | ||
| Q2 25 | 0.6% | 4.0% | ||
| Q1 25 | 0.2% | 3.1% | ||
| Q4 24 | 2.1% | 7.2% | ||
| Q3 24 | 3.8% | 2.7% | ||
| Q2 24 | 1.1% | 2.8% | ||
| Q1 24 | 1.3% | 4.8% |
| Q4 25 | 2.00× | — | ||
| Q3 25 | 0.97× | 6.29× | ||
| Q2 25 | -0.39× | 2.25× | ||
| Q1 25 | 4.88× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.51× | 6.32× | ||
| Q2 24 | 0.68× | 3.95× | ||
| Q1 24 | 3.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
