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Side-by-side financial comparison of MATRIX SERVICE CO (MTRX) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $210.5M, roughly 1.6× MATRIX SERVICE CO). MATRIX SERVICE CO runs the higher net margin — -0.4% vs -12.9%, a 12.5% gap on every dollar of revenue. On growth, MATRIX SERVICE CO posted the faster year-over-year revenue change (12.5% vs -0.4%). MATRIX SERVICE CO produced more free cash flow last quarter ($6.3M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 12.6%).
Matrix Telecom, Inc., operating as Matrix Business Technologies, Trinsic, Powered by Matrix, Excel Telecommunications and various other niche brands is a United States telecommunications firm that provides voice and data services to consumers and small and medium businesses as well as multi-location distributed enterprise markets. The firm also provides wholesale voice services to the telecommunications, wireless and cable industries.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
MTRX vs WD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.5M | $340.0M |
| Net Profit | $-894.0K | $-13.9M |
| Gross Margin | 6.2% | — |
| Operating Margin | -1.0% | -17.2% |
| Net Margin | -0.4% | -12.9% |
| Revenue YoY | 12.5% | -0.4% |
| Net Profit YoY | 83.8% | -131.0% |
| EPS (diluted) | $-0.03 | $-0.41 |
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 | $210.5M | $340.0M | ||
| Q3 25 | $211.9M | $337.7M | ||
| Q2 25 | $216.4M | $319.2M | ||
| Q1 25 | $200.2M | $237.4M | ||
| Q4 24 | $187.2M | $341.5M | ||
| Q3 24 | $165.6M | $292.3M | ||
| Q2 24 | $189.5M | $270.7M | ||
| Q1 24 | $166.0M | $228.1M |
| Q4 25 | $-894.0K | $-13.9M | ||
| Q3 25 | $-3.7M | $33.5M | ||
| Q2 25 | $-11.3M | $34.0M | ||
| Q1 25 | $-3.4M | $2.8M | ||
| Q4 24 | $-5.5M | $44.8M | ||
| Q3 24 | $-9.2M | $28.8M | ||
| Q2 24 | $-4.4M | $22.7M | ||
| Q1 24 | $-14.6M | $11.9M |
| Q4 25 | 6.2% | — | ||
| Q3 25 | 6.7% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 3.4% | — |
| Q4 25 | -1.0% | -17.2% | ||
| Q3 25 | -2.6% | 13.6% | ||
| Q2 25 | -6.0% | 14.5% | ||
| Q1 25 | -2.5% | 2.2% | ||
| Q4 24 | -3.4% | 15.3% | ||
| Q3 24 | -6.5% | 12.8% | ||
| Q2 24 | -2.8% | 10.4% | ||
| Q1 24 | -8.7% | 6.0% |
| Q4 25 | -0.4% | -12.9% | ||
| Q3 25 | -1.7% | 9.9% | ||
| Q2 25 | -5.2% | 10.6% | ||
| Q1 25 | -1.7% | 1.2% | ||
| Q4 24 | -3.0% | 13.1% | ||
| Q3 24 | -5.6% | 9.9% | ||
| Q2 24 | -2.3% | 8.4% | ||
| Q1 24 | -8.8% | 5.2% |
| Q4 25 | $-0.03 | $-0.41 | ||
| Q3 25 | $-0.13 | $0.98 | ||
| Q2 25 | $-0.41 | $0.99 | ||
| Q1 25 | $-0.12 | $0.08 | ||
| Q4 24 | $-0.20 | $1.32 | ||
| Q3 24 | $-0.33 | $0.85 | ||
| Q2 24 | $-0.16 | $0.67 | ||
| Q1 24 | $-0.53 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $199.0M | $299.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $137.6M | $1.7B |
| Total Assets | $650.2M | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $199.0M | $299.3M | ||
| Q3 25 | $192.3M | $274.8M | ||
| Q2 25 | $224.6M | $233.7M | ||
| Q1 25 | $185.5M | $181.0M | ||
| Q4 24 | $156.8M | $279.3M | ||
| Q3 24 | $124.6M | $179.8M | ||
| Q2 24 | $115.6M | $208.1M | ||
| Q1 24 | $69.7M | $216.5M |
| Q4 25 | $137.6M | $1.7B | ||
| Q3 25 | $136.3M | $1.8B | ||
| Q2 25 | $142.7M | $1.8B | ||
| Q1 25 | $150.7M | $1.7B | ||
| Q4 24 | $151.9M | $1.7B | ||
| Q3 24 | $156.5M | $1.7B | ||
| Q2 24 | $164.2M | $1.7B | ||
| Q1 24 | $165.8M | $1.7B |
| Q4 25 | $650.2M | $5.1B | ||
| Q3 25 | $598.2M | $5.8B | ||
| Q2 25 | $600.3M | $4.7B | ||
| Q1 25 | $613.7M | $4.5B | ||
| Q4 24 | $513.8M | $4.4B | ||
| Q3 24 | $470.2M | $4.6B | ||
| Q2 24 | $451.4M | $4.2B | ||
| Q1 24 | $440.0M | $3.8B |
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 | $7.5M | $-664.3M |
| Free Cash FlowOCF − Capex | $6.3M | $-680.1M |
| FCF MarginFCF / Revenue | 3.0% | -200.0% |
| Capex IntensityCapex / Revenue | 0.6% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $45.5M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.5M | $-664.3M | ||
| Q3 25 | $-25.9M | $-948.1M | ||
| Q2 25 | $40.7M | $-238.5M | ||
| Q1 25 | $31.2M | $-281.1M | ||
| Q4 24 | $33.6M | $129.4M | ||
| Q3 24 | $11.9M | $-202.0M | ||
| Q2 24 | $47.0M | $-237.8M | ||
| Q1 24 | $24.8M | $38.4M |
| Q4 25 | $6.3M | $-680.1M | ||
| Q3 25 | $-27.9M | $-950.4M | ||
| Q2 25 | $38.4M | $-241.0M | ||
| Q1 25 | $28.7M | $-284.7M | ||
| Q4 24 | $32.7M | $116.4M | ||
| Q3 24 | $10.0M | $-204.0M | ||
| Q2 24 | $45.7M | $-241.7M | ||
| Q1 24 | $20.0M | $35.2M |
| Q4 25 | 3.0% | -200.0% | ||
| Q3 25 | -13.2% | -281.5% | ||
| Q2 25 | 17.8% | -75.5% | ||
| Q1 25 | 14.3% | -120.0% | ||
| Q4 24 | 17.5% | 34.1% | ||
| Q3 24 | 6.0% | -69.8% | ||
| Q2 24 | 24.1% | -89.3% | ||
| Q1 24 | 12.1% | 15.4% |
| Q4 25 | 0.6% | 4.6% | ||
| Q3 25 | 0.9% | 0.7% | ||
| Q2 25 | 1.0% | 0.8% | ||
| Q1 25 | 1.3% | 1.5% | ||
| Q4 24 | 0.5% | 3.8% | ||
| Q3 24 | 1.2% | 0.7% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 2.9% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MTRX
| Storage And Terminal Solutions | $99.9M | 47% |
| Utility And Power Infrastructure | $75.4M | 36% |
| Process And Industrial Facilities | $35.3M | 17% |
WD
Segment breakdown not available.
