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Side-by-side financial comparison of PAMT CORP (PAMT) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $141.3M, roughly 1.1× PAMT CORP). PAMT CORP runs the higher net margin — -20.7% vs -452.0%, a 431.3% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs -15.1%). PAMT CORP produced more free cash flow last quarter ($-25.0M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -12.0%).
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
PAMT vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $152.8M |
| Net Profit | $-29.3M | $-690.7M |
| Gross Margin | — | — |
| Operating Margin | -27.0% | -447.9% |
| Net Margin | -20.7% | -452.0% |
| Revenue YoY | -15.1% | 7.2% |
| Net Profit YoY | 7.4% | -606.3% |
| EPS (diluted) | $-1.38 | $-1.89 |
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 | $141.3M | $152.8M | ||
| Q3 25 | $150.3M | $180.2M | ||
| Q2 25 | $151.1M | $153.0M | ||
| Q1 25 | $155.3M | $161.4M | ||
| Q4 24 | $166.5M | $142.6M | ||
| Q3 24 | $182.6M | $84.8M | ||
| Q2 24 | $182.9M | $70.0M | ||
| Q1 24 | $182.6M | $79.3M |
| Q4 25 | $-29.3M | $-690.7M | ||
| Q3 25 | $-5.6M | $104.5M | ||
| Q2 25 | $-9.6M | $219.5M | ||
| Q1 25 | $-8.1M | $-296.4M | ||
| Q4 24 | $-31.6M | $136.4M | ||
| Q3 24 | $2.4M | $-154.4M | ||
| Q2 24 | $-2.9M | $-84.4M | ||
| Q1 24 | $281.0K | $211.8M |
| Q4 25 | -27.0% | -447.9% | ||
| Q3 25 | -3.8% | 44.4% | ||
| Q2 25 | -7.3% | — | ||
| Q1 25 | -5.9% | -144.9% | ||
| Q4 24 | -22.6% | — | ||
| Q3 24 | 1.3% | -143.3% | ||
| Q2 24 | -0.4% | -167.2% | ||
| Q1 24 | -0.4% | — |
| Q4 25 | -20.7% | -452.0% | ||
| Q3 25 | -3.7% | 58.0% | ||
| Q2 25 | -6.4% | 143.4% | ||
| Q1 25 | -5.2% | -183.6% | ||
| Q4 24 | -19.0% | 95.7% | ||
| Q3 24 | 1.3% | -182.1% | ||
| Q2 24 | -1.6% | -120.6% | ||
| Q1 24 | 0.2% | 267.1% |
| Q4 25 | $-1.38 | $-1.89 | ||
| Q3 25 | $-0.27 | $0.26 | ||
| Q2 25 | $-0.46 | $0.58 | ||
| Q1 25 | $-0.37 | $-0.90 | ||
| Q4 24 | $-1.44 | $0.39 | ||
| Q3 24 | $0.11 | $-0.54 | ||
| Q2 24 | $-0.13 | $-0.32 | ||
| Q1 24 | $0.01 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $83.7M | $233.5M |
| Total DebtLower is stronger | $333.9M | $840.8M |
| Stockholders' EquityBook value | $210.5M | $2.9B |
| Total Assets | $697.9M | $3.9B |
| Debt / EquityLower = less leverage | 1.59× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.7M | $233.5M | ||
| Q3 25 | $115.6M | $330.7M | ||
| Q2 25 | $117.3M | $255.4M | ||
| Q1 25 | $102.7M | $163.7M | ||
| Q4 24 | $110.7M | $277.9M | ||
| Q3 24 | $92.3M | $355.7M | ||
| Q2 24 | $114.0M | $481.2M | ||
| Q1 24 | $125.8M | $688.5M |
| Q4 25 | $333.9M | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | $325.6M | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $210.5M | $2.9B | ||
| Q3 25 | $239.5M | $3.5B | ||
| Q2 25 | $244.9M | $3.3B | ||
| Q1 25 | $269.6M | $2.9B | ||
| Q4 24 | $277.5M | $3.1B | ||
| Q3 24 | $308.9M | $2.7B | ||
| Q2 24 | $306.7M | $2.6B | ||
| Q1 24 | $314.6M | $2.5B |
| Q4 25 | $697.9M | $3.9B | ||
| Q3 25 | $715.2M | $4.5B | ||
| Q2 25 | $707.9M | $4.3B | ||
| Q1 25 | $712.6M | $3.7B | ||
| Q4 24 | $741.7M | $3.9B | ||
| Q3 24 | $756.7M | $2.9B | ||
| Q2 24 | $733.5M | $2.7B | ||
| Q1 24 | $746.4M | $2.6B |
| Q4 25 | 1.59× | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 1.17× | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-5.8M | $-572.9M |
| Free Cash FlowOCF − Capex | $-25.0M | $-774.3M |
| FCF MarginFCF / Revenue | -17.7% | -506.6% |
| Capex IntensityCapex / Revenue | 13.6% | 131.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $-572.9M | ||
| Q3 25 | $5.9M | $-114.0M | ||
| Q2 25 | $12.2M | $-231.3M | ||
| Q1 25 | $5.0M | $-122.1M | ||
| Q4 24 | $15.2M | $-255.1M | ||
| Q3 24 | $15.5M | $-56.3M | ||
| Q2 24 | $18.7M | $-42.5M | ||
| Q1 24 | $9.6M | $-57.9M |
| Q4 25 | $-25.0M | $-774.3M | ||
| Q3 25 | $2.5M | $-139.7M | ||
| Q2 25 | $5.9M | $-291.7M | ||
| Q1 25 | $-6.8M | $-154.9M | ||
| Q4 24 | $-39.9M | $-495.4M | ||
| Q3 24 | $-33.6M | $-127.6M | ||
| Q2 24 | $4.1M | $-96.1M | ||
| Q1 24 | $-12.2M | $-115.2M |
| Q4 25 | -17.7% | -506.6% | ||
| Q3 25 | 1.7% | -77.5% | ||
| Q2 25 | 3.9% | -190.7% | ||
| Q1 25 | -4.4% | -96.0% | ||
| Q4 24 | -24.0% | -347.5% | ||
| Q3 24 | -18.4% | -150.5% | ||
| Q2 24 | 2.2% | -137.2% | ||
| Q1 24 | -6.7% | -145.2% |
| Q4 25 | 13.6% | 131.8% | ||
| Q3 25 | 2.3% | 14.3% | ||
| Q2 25 | 4.2% | 39.5% | ||
| Q1 25 | 7.6% | 20.4% | ||
| Q4 24 | 33.1% | 168.6% | ||
| Q3 24 | 26.9% | 84.1% | ||
| Q2 24 | 8.0% | 76.5% | ||
| Q1 24 | 12.0% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 34.11× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
