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Side-by-side financial comparison of Enpro Inc. (NPO) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $295.4M, roughly 1.3× Enpro Inc.). INNOVATE Corp. runs the higher net margin — -1.9% vs -10.8%, a 8.9% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 14.3%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 7.1%).
Enpro is a US-based industrial technology company that designs and manufactures products and materials for technology-intensive sectors. The company serves industries such as semiconductors, aerospace, power generation, heavy-duty trucking, agricultural machinery, chemical processing, pulp and paper, and life sciences from 61 primary manufacturing facilities located in 12 countries, worldwide. It is organized under three segments: Sealing Technologies, Advanced Surface Technologies, and Engin...
Innovate Corp. is an American public financial services company founded in 1994.
NPO vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $295.4M | $382.7M |
| Net Profit | $-32.0M | $-7.4M |
| Gross Margin | 42.1% | 15.4% |
| Operating Margin | 11.2% | 3.7% |
| Net Margin | -10.8% | -1.9% |
| Revenue YoY | 14.3% | 61.7% |
| Net Profit YoY | -330.2% | 55.4% |
| EPS (diluted) | $-1.50 | $-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 | $295.4M | $382.7M | ||
| Q3 25 | $286.6M | $347.1M | ||
| Q2 25 | $288.1M | $242.0M | ||
| Q1 25 | $273.2M | $274.2M | ||
| Q4 24 | $258.4M | $236.6M | ||
| Q3 24 | $260.9M | $242.2M | ||
| Q2 24 | $271.9M | $313.1M | ||
| Q1 24 | $257.5M | $315.2M |
| Q4 25 | $-32.0M | $-7.4M | ||
| Q3 25 | $21.6M | $-8.9M | ||
| Q2 25 | $26.4M | $-19.8M | ||
| Q1 25 | $24.5M | $-24.5M | ||
| Q4 24 | $13.9M | $-16.6M | ||
| Q3 24 | $19.8M | $-15.0M | ||
| Q2 24 | $26.7M | $14.4M | ||
| Q1 24 | $12.5M | $-17.4M |
| Q4 25 | 42.1% | 15.4% | ||
| Q3 25 | 41.9% | 14.3% | ||
| Q2 25 | 43.3% | 18.8% | ||
| Q1 25 | 43.3% | 16.6% | ||
| Q4 24 | 42.3% | 19.6% | ||
| Q3 24 | 42.3% | 19.9% | ||
| Q2 24 | 43.8% | 21.0% | ||
| Q1 24 | 41.2% | 15.4% |
| Q4 25 | 11.2% | 3.7% | ||
| Q3 25 | 14.3% | 1.8% | ||
| Q2 25 | 15.9% | 2.0% | ||
| Q1 25 | 15.3% | 1.2% | ||
| Q4 24 | 12.5% | 1.1% | ||
| Q3 24 | 13.1% | 2.4% | ||
| Q2 24 | 17.7% | 9.2% | ||
| Q1 24 | 10.9% | 0.9% |
| Q4 25 | -10.8% | -1.9% | ||
| Q3 25 | 7.5% | -2.6% | ||
| Q2 25 | 9.2% | -8.2% | ||
| Q1 25 | 9.0% | -8.9% | ||
| Q4 24 | 5.4% | -7.0% | ||
| Q3 24 | 7.6% | -6.2% | ||
| Q2 24 | 9.8% | 4.6% | ||
| Q1 24 | 4.9% | -5.5% |
| Q4 25 | $-1.50 | $-0.57 | ||
| Q3 25 | $1.01 | $-0.71 | ||
| Q2 25 | $1.25 | $-1.67 | ||
| Q1 25 | $1.15 | $-1.89 | ||
| Q4 24 | $0.65 | $-0.72 | ||
| Q3 24 | $0.94 | $-1.18 | ||
| Q2 24 | $1.27 | $1.03 | ||
| Q1 24 | $0.59 | $-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 | $114.7M | $112.1M |
| Total DebtLower is stronger | $655.3M | $80.3M |
| Stockholders' EquityBook value | $1.5B | $-240.1M |
| Total Assets | $2.7B | $950.1M |
| Debt / EquityLower = less leverage | 0.42× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.7M | $112.1M | ||
| Q3 25 | $132.9M | $35.5M | ||
| Q2 25 | $107.1M | $33.4M | ||
| Q1 25 | $240.3M | $33.3M | ||
| Q4 24 | $236.3M | $48.8M | ||
| Q3 24 | $206.9M | $51.0M | ||
| Q2 24 | $175.9M | $80.2M | ||
| Q1 24 | $163.9M | $38.4M |
| Q4 25 | $655.3M | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $640.1M | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | $644.9M | $641.5M |
| Q4 25 | $1.5B | $-240.1M | ||
| Q3 25 | $1.5B | $-233.3M | ||
| Q2 25 | $1.5B | $-224.8M | ||
| Q1 25 | $1.5B | $-204.2M | ||
| Q4 24 | $1.4B | $-180.4M | ||
| Q3 24 | $1.5B | $-163.1M | ||
| Q2 24 | $1.4B | $-149.0M | ||
| Q1 24 | $1.4B | $-184.4M |
| Q4 25 | $2.7B | $950.1M | ||
| Q3 25 | $2.4B | $913.2M | ||
| Q2 25 | $2.4B | $890.9M | ||
| Q1 25 | $2.5B | $868.0M | ||
| Q4 24 | $2.5B | $891.1M | ||
| Q3 24 | $2.5B | $897.2M | ||
| Q2 24 | $2.5B | $898.9M | ||
| Q1 24 | $2.5B | $943.5M |
| Q4 25 | 0.42× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.46× | — |
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 | — | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 4.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $101.1M | ||
| Q3 25 | $65.3M | $19.2M | ||
| Q2 25 | $52.2M | $40.4M | ||
| Q1 25 | $21.0M | $-14.1M | ||
| Q4 24 | $59.4M | $41.4M | ||
| Q3 24 | $54.0M | $-28.4M | ||
| Q2 24 | $43.2M | $21.5M | ||
| Q1 24 | $6.3M | $-25.4M |
| Q4 25 | — | — | ||
| Q3 25 | $53.4M | $19.0M | ||
| Q2 25 | $42.3M | — | ||
| Q1 25 | $13.0M | $-18.8M | ||
| Q4 24 | $49.1M | $34.2M | ||
| Q3 24 | $48.3M | $-31.5M | ||
| Q2 24 | $38.3M | $18.4M | ||
| Q1 24 | $-1.9M | $-31.0M |
| Q4 25 | — | — | ||
| Q3 25 | 18.6% | 5.5% | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 4.8% | -6.9% | ||
| Q4 24 | 19.0% | 14.5% | ||
| Q3 24 | 18.5% | -13.0% | ||
| Q2 24 | 14.1% | 5.9% | ||
| Q1 24 | -0.7% | -9.8% |
| Q4 25 | 4.1% | — | ||
| Q3 25 | 4.2% | 0.1% | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.9% | 1.7% | ||
| Q4 24 | 4.0% | 3.0% | ||
| Q3 24 | 2.2% | 1.3% | ||
| Q2 24 | 1.8% | 1.0% | ||
| Q1 24 | 3.2% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | 3.02× | — | ||
| Q2 25 | 1.98× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 1.62× | 1.49× | ||
| Q1 24 | 0.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NPO
| Sealing Technologies Segment | $187.0M | 63% |
| General Industrial | $71.3M | 24% |
| Power Generation | $19.9M | 7% |
| Oiland Gas Market | $15.0M | 5% |
| Semiconductors | $2.2M | 1% |
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% |
