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Side-by-side financial comparison of Orion Properties Inc. (ONL) and STEM, INC. (STEM). Click either name above to swap in a different company.

STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $35.2M, roughly 1.3× Orion Properties Inc.). STEM, INC. runs the higher net margin — -33.9% vs -101.7%, a 67.8% gap on every dollar of revenue. On growth, Orion Properties Inc. posted the faster year-over-year revenue change (-8.2% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -13.6%).

StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.

ONL vs STEM — Head-to-Head

Bigger by revenue
STEM
STEM
1.3× larger
STEM
$47.1M
$35.2M
ONL
Growing faster (revenue YoY)
ONL
ONL
+7.4% gap
ONL
-8.2%
-15.6%
STEM
Higher net margin
STEM
STEM
67.8% more per $
STEM
-33.9%
-101.7%
ONL
Faster 2-yr revenue CAGR
STEM
STEM
Annualised
STEM
36.1%
-13.6%
ONL

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ONL
ONL
STEM
STEM
Revenue
$35.2M
$47.1M
Net Profit
$-35.8M
$-16.0M
Gross Margin
48.9%
Operating Margin
-101.5%
-17.7%
Net Margin
-101.7%
-33.9%
Revenue YoY
-8.2%
-15.6%
Net Profit YoY
-9.3%
68.8%
EPS (diluted)
$-0.63
$-4.40

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
ONL
ONL
STEM
STEM
Q4 25
$35.2M
$47.1M
Q3 25
$37.1M
$38.2M
Q2 25
$37.3M
$38.4M
Q1 25
$38.0M
$32.5M
Q4 24
$38.4M
$55.8M
Q3 24
$39.2M
$29.3M
Q2 24
$40.1M
$34.0M
Q1 24
$47.2M
$25.5M
Net Profit
ONL
ONL
STEM
STEM
Q4 25
$-35.8M
$-16.0M
Q3 25
$-69.0M
$-23.8M
Q2 25
$-25.1M
$202.5M
Q1 25
$-9.4M
$-25.0M
Q4 24
$-32.8M
$-51.1M
Q3 24
$-10.2M
$-148.3M
Q2 24
$-33.8M
$-582.3M
Q1 24
$-26.2M
$-72.3M
Gross Margin
ONL
ONL
STEM
STEM
Q4 25
48.9%
Q3 25
35.5%
Q2 25
33.4%
Q1 25
32.4%
Q4 24
-4.4%
Q3 24
21.2%
Q2 24
27.6%
Q1 24
-95.0%
Operating Margin
ONL
ONL
STEM
STEM
Q4 25
-101.5%
-17.7%
Q3 25
-185.8%
-33.6%
Q2 25
-67.1%
-34.8%
Q1 25
-24.4%
-65.0%
Q4 24
-85.4%
-84.4%
Q3 24
-25.9%
-493.2%
Q2 24
-84.1%
-1705.5%
Q1 24
-55.4%
-267.0%
Net Margin
ONL
ONL
STEM
STEM
Q4 25
-101.7%
-33.9%
Q3 25
-186.0%
-62.2%
Q2 25
-67.3%
527.8%
Q1 25
-24.6%
-76.9%
Q4 24
-85.4%
-91.6%
Q3 24
-26.1%
-506.3%
Q2 24
-84.2%
-1712.6%
Q1 24
-55.6%
-283.9%
EPS (diluted)
ONL
ONL
STEM
STEM
Q4 25
$-0.63
$-4.40
Q3 25
$-1.23
$-2.84
Q2 25
$-0.45
$-1.79
Q1 25
$-0.17
$-0.15
Q4 24
$-0.59
$-15.29
Q3 24
$-0.18
$-18.24
Q2 24
$-0.60
$-71.81
Q1 24
$-0.47
$-0.46

Balance Sheet & Financial Strength

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

Metric
ONL
ONL
STEM
STEM
Cash + ST InvestmentsLiquidity on hand
$22.4M
$48.9M
Total DebtLower is stronger
$465.0M
Stockholders' EquityBook value
$623.2M
$-249.4M
Total Assets
$1.2B
$308.9M
Debt / EquityLower = less leverage
0.75×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ONL
ONL
STEM
STEM
Q4 25
$22.4M
$48.9M
Q3 25
$32.6M
$43.1M
Q2 25
$17.4M
$40.8M
Q1 25
$9.4M
$58.6M
Q4 24
$15.6M
$56.3M
Q3 24
$16.6M
$75.4M
Q2 24
$24.2M
$89.6M
Q1 24
$23.6M
$112.8M
Total Debt
ONL
ONL
STEM
STEM
Q4 25
$465.0M
Q3 25
$483.0M
Q2 25
$483.0M
Q1 25
$505.0M
Q4 24
$492.0M
Q3 24
$485.0M
Q2 24
$462.0M
Q1 24
$471.0M
Stockholders' Equity
ONL
ONL
STEM
STEM
Q4 25
$623.2M
$-249.4M
Q3 25
$658.8M
$-235.7M
Q2 25
$728.0M
$-214.1M
Q1 25
$753.5M
$-417.5M
Q4 24
$763.9M
$-398.4M
Q3 24
$800.9M
$-344.1M
Q2 24
$816.1M
$-203.2M
Q1 24
$854.6M
$371.6M
Total Assets
ONL
ONL
STEM
STEM
Q4 25
$1.2B
$308.9M
Q3 25
$1.2B
$362.6M
Q2 25
$1.3B
$379.2M
Q1 25
$1.3B
$405.1M
Q4 24
$1.3B
$437.4M
Q3 24
$1.4B
$537.8M
Q2 24
$1.3B
$691.5M
Q1 24
$1.4B
$1.3B
Debt / Equity
ONL
ONL
STEM
STEM
Q4 25
0.75×
Q3 25
0.73×
Q2 25
0.66×
Q1 25
0.67×
Q4 24
0.64×
Q3 24
0.61×
Q2 24
0.57×
Q1 24
0.55×

Cash Flow & Capital Efficiency

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

Metric
ONL
ONL
STEM
STEM
Operating Cash FlowLast quarter
$23.6M
$8.2M
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
ONL
ONL
STEM
STEM
Q4 25
$23.6M
$8.2M
Q3 25
$5.7M
$11.4M
Q2 25
$11.6M
$-21.3M
Q1 25
$-2.2M
$8.5M
Q4 24
$54.3M
$-14.7M
Q3 24
$13.8M
$-9.4M
Q2 24
$17.0M
$-11.9M
Q1 24
$11.0M
$-621.0K
Cash Conversion
ONL
ONL
STEM
STEM
Q4 25
Q3 25
Q2 25
-0.11×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

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