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Side-by-side financial comparison of CPI Card Group Inc. (PMTS) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $100.0M, roughly 1.5× Latham Group, Inc.). CPI Card Group Inc. runs the higher net margin — 4.8% vs -7.0%, a 11.8% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs 14.5%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $14.1M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% CAGR vs -4.9%).
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
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.
PMTS vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $153.1M | $100.0M |
| Net Profit | $7.3M | $-7.0M |
| Gross Margin | 31.5% | 28.0% |
| Operating Margin | 12.0% | -10.7% |
| Net Margin | 4.8% | -7.0% |
| Revenue YoY | 22.3% | 14.5% |
| Net Profit YoY | 8.5% | 76.0% |
| EPS (diluted) | $0.62 | $-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 | $153.1M | $100.0M | ||
| Q3 25 | $138.0M | $161.9M | ||
| Q2 25 | $129.8M | $172.6M | ||
| Q1 25 | $122.8M | $111.4M | ||
| Q4 24 | $125.1M | $87.3M | ||
| Q3 24 | $124.8M | $150.5M | ||
| Q2 24 | $118.8M | $160.1M | ||
| Q1 24 | $111.9M | $110.6M |
| Q4 25 | $7.3M | $-7.0M | ||
| Q3 25 | $2.3M | $8.1M | ||
| Q2 25 | $518.0K | $16.0M | ||
| Q1 25 | $4.8M | $-6.0M | ||
| Q4 24 | $6.8M | $-29.2M | ||
| Q3 24 | $1.3M | $5.9M | ||
| Q2 24 | $6.0M | $13.3M | ||
| Q1 24 | $5.5M | $-7.9M |
| Q4 25 | 31.5% | 28.0% | ||
| Q3 25 | 29.7% | 35.4% | ||
| Q2 25 | 30.9% | 37.1% | ||
| Q1 25 | 33.2% | 29.5% | ||
| Q4 24 | 34.1% | 24.6% | ||
| Q3 24 | 35.8% | 32.4% | ||
| Q2 24 | 35.7% | 33.1% | ||
| Q1 24 | 37.1% | 27.7% |
| Q4 25 | 12.0% | -10.7% | ||
| Q3 25 | 9.4% | 13.3% | ||
| Q2 25 | 7.3% | 14.3% | ||
| Q1 25 | 11.5% | -4.4% | ||
| Q4 24 | 12.7% | -14.9% | ||
| Q3 24 | 14.3% | 8.9% | ||
| Q2 24 | 12.5% | 12.5% | ||
| Q1 24 | 12.6% | -1.9% |
| Q4 25 | 4.8% | -7.0% | ||
| Q3 25 | 1.7% | 5.0% | ||
| Q2 25 | 0.4% | 9.3% | ||
| Q1 25 | 3.9% | -5.4% | ||
| Q4 24 | 5.4% | -33.4% | ||
| Q3 24 | 1.0% | 3.9% | ||
| Q2 24 | 5.1% | 8.3% | ||
| Q1 24 | 4.9% | -7.1% |
| Q4 25 | $0.62 | $-0.06 | ||
| Q3 25 | $0.19 | $0.07 | ||
| Q2 25 | $0.04 | $0.13 | ||
| Q1 25 | $0.40 | $-0.05 | ||
| Q4 24 | $0.56 | $-0.24 | ||
| Q3 24 | $0.11 | $0.05 | ||
| Q2 24 | $0.51 | $0.11 | ||
| Q1 24 | $0.46 | $-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 | $21.7M | — |
| Total DebtLower is stronger | $286.7M | $279.8M |
| Stockholders' EquityBook value | $-17.3M | $405.9M |
| Total Assets | $403.2M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.7M | — | ||
| Q3 25 | $16.0M | — | ||
| Q2 25 | $17.1M | — | ||
| Q1 25 | $31.5M | — | ||
| Q4 24 | $33.5M | — | ||
| Q3 24 | $14.7M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $17.1M | — |
| Q4 25 | $286.7M | $279.8M | ||
| Q3 25 | $308.4M | $281.1M | ||
| Q2 25 | $310.9M | $281.5M | ||
| Q1 25 | $280.7M | $306.9M | ||
| Q4 24 | $280.4M | $281.5M | ||
| Q3 24 | $280.2M | $282.8M | ||
| Q2 24 | $269.7M | $282.4M | ||
| Q1 24 | $265.3M | $282.8M |
| Q4 25 | $-17.3M | $405.9M | ||
| Q3 25 | $-25.7M | $408.4M | ||
| Q2 25 | $-29.0M | $398.4M | ||
| Q1 25 | $-29.7M | $381.1M | ||
| Q4 24 | $-35.6M | $387.2M | ||
| Q3 24 | $-42.8M | $416.6M | ||
| Q2 24 | $-44.6M | $408.1M | ||
| Q1 24 | $-48.5M | $391.8M |
| Q4 25 | $403.2M | $823.2M | ||
| Q3 25 | $407.1M | $844.4M | ||
| Q2 25 | $399.8M | $822.1M | ||
| Q1 25 | $351.9M | $824.6M | ||
| Q4 24 | $349.7M | $794.2M | ||
| Q3 24 | $342.3M | $853.4M | ||
| Q2 24 | $321.4M | $830.0M | ||
| Q1 24 | $319.8M | $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 | $39.6M | $23.3M |
| Free Cash FlowOCF − Capex | $35.2M | $14.1M |
| FCF MarginFCF / Revenue | 23.0% | 14.1% |
| Capex IntensityCapex / Revenue | 2.9% | 9.2% |
| Cash ConversionOCF / Net Profit | 5.39× | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.3M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.6M | $23.3M | ||
| Q3 25 | $10.0M | $51.0M | ||
| Q2 25 | $4.3M | $36.0M | ||
| Q1 25 | $5.6M | $-46.9M | ||
| Q4 24 | $26.7M | $6.2M | ||
| Q3 24 | $12.5M | $37.2M | ||
| Q2 24 | $-4.8M | $52.4M | ||
| Q1 24 | $8.9M | $-34.5M |
| Q4 25 | $35.2M | $14.1M | ||
| Q3 25 | $5.3M | $45.2M | ||
| Q2 25 | $533.0K | $29.1M | ||
| Q1 25 | $292.0K | $-50.3M | ||
| Q4 24 | $21.6M | $-98.0K | ||
| Q3 24 | $11.1M | $33.2M | ||
| Q2 24 | $-6.0M | $47.9M | ||
| Q1 24 | $7.4M | $-39.9M |
| Q4 25 | 23.0% | 14.1% | ||
| Q3 25 | 3.8% | 27.9% | ||
| Q2 25 | 0.4% | 16.8% | ||
| Q1 25 | 0.2% | -45.2% | ||
| Q4 24 | 17.3% | -0.1% | ||
| Q3 24 | 8.9% | 22.1% | ||
| Q2 24 | -5.0% | 29.9% | ||
| Q1 24 | 6.6% | -36.0% |
| Q4 25 | 2.9% | 9.2% | ||
| Q3 25 | 3.4% | 3.6% | ||
| Q2 25 | 2.9% | 4.0% | ||
| Q1 25 | 4.3% | 3.1% | ||
| Q4 24 | 4.0% | 7.2% | ||
| Q3 24 | 1.2% | 2.7% | ||
| Q2 24 | 1.0% | 2.8% | ||
| Q1 24 | 1.3% | 4.8% |
| Q4 25 | 5.39× | — | ||
| Q3 25 | 4.32× | 6.29× | ||
| Q2 25 | 8.39× | 2.25× | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 9.70× | 6.32× | ||
| Q2 24 | -0.79× | 3.95× | ||
| Q1 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
