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Side-by-side financial comparison of PIONEER POWER SOLUTIONS, INC. (PPSI) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $5.6M, roughly 1.5× PIONEER POWER SOLUTIONS, INC.). On growth, SWK Holdings Corp posted the faster year-over-year revenue change (-29.7% vs -42.3%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-2.2M). Over the past eight quarters, PIONEER POWER SOLUTIONS, INC.'s revenue compounded faster (30.3% CAGR vs -12.5%).
Caterpillar Energy Solutions GmbH, is a mechanical engineering company based in Mannheim, Baden-Württemberg, Germany. It was known as MWM GmbH Motoren-Werke Mannheim (MWM) until November 2013. In 2009 the company was the third-largest producer by revenue of gas and diesel engines.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
PPSI vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.6M | $8.7M |
| Net Profit | $-1.4M | $-19.4M |
| Gross Margin | 23.5% | — |
| Operating Margin | -19.4% | 9.9% |
| Net Margin | -24.7% | — |
| Revenue YoY | -42.3% | -29.7% |
| Net Profit YoY | -103.8% | -430.2% |
| EPS (diluted) | $-0.12 | $-1.59 |
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 | $5.6M | $8.7M | ||
| Q3 25 | $6.9M | $10.9M | ||
| Q2 25 | $8.4M | $10.1M | ||
| Q1 25 | $6.7M | $11.8M | ||
| Q4 24 | $9.8M | $12.4M | ||
| Q3 24 | $6.4M | $10.4M | ||
| Q2 24 | $3.4M | $10.8M | ||
| Q1 24 | $3.3M | $11.4M |
| Q4 25 | $-1.4M | $-19.4M | ||
| Q3 25 | $-2.4M | $8.8M | ||
| Q2 25 | $-1.3M | $3.5M | ||
| Q1 25 | $-929.0K | $4.5M | ||
| Q4 24 | $36.3M | $5.9M | ||
| Q3 24 | $-1.1M | $3.5M | ||
| Q2 24 | $-2.3M | $3.7M | ||
| Q1 24 | $-1.0M | $468.0K |
| Q4 25 | 23.5% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 15.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 23.7% | — | ||
| Q2 24 | 18.9% | — | ||
| Q1 24 | 16.1% | — |
| Q4 25 | -19.4% | 9.9% | ||
| Q3 25 | -21.0% | 61.3% | ||
| Q2 25 | -20.4% | 46.1% | ||
| Q1 25 | -34.8% | 68.6% | ||
| Q4 24 | -11.0% | 44.7% | ||
| Q3 24 | -11.1% | 39.2% | ||
| Q2 24 | -51.1% | 8.3% | ||
| Q1 24 | -52.1% | 9.5% |
| Q4 25 | -24.7% | — | ||
| Q3 25 | -34.1% | 80.7% | ||
| Q2 25 | -15.9% | 35.2% | ||
| Q1 25 | -13.8% | 38.4% | ||
| Q4 24 | 372.1% | 47.5% | ||
| Q3 24 | -17.5% | 33.3% | ||
| Q2 24 | -67.2% | 33.9% | ||
| Q1 24 | -31.2% | 4.1% |
| Q4 25 | $-0.12 | $-1.59 | ||
| Q3 25 | $-0.21 | $0.72 | ||
| Q2 25 | $-0.12 | $0.29 | ||
| Q1 25 | $-0.09 | $0.37 | ||
| Q4 24 | $3.31 | $0.47 | ||
| Q3 24 | $-0.10 | $0.28 | ||
| Q2 24 | $-0.21 | $0.30 | ||
| Q1 24 | $-0.10 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $29.3M | $235.1M |
| Total Assets | $35.5M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $42.8M | ||
| Q3 25 | — | $10.2M | ||
| Q2 25 | $18.0M | $8.0M | ||
| Q1 25 | $25.8M | $29.8M | ||
| Q4 24 | $41.6M | $5.9M | ||
| Q3 24 | $3.1M | $17.2M | ||
| Q2 24 | $6.5M | $5.5M | ||
| Q1 24 | $6.2M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $29.3M | $235.1M | ||
| Q3 25 | $30.7M | $254.2M | ||
| Q2 25 | $33.0M | $246.5M | ||
| Q1 25 | $34.5M | $292.7M | ||
| Q4 24 | $35.4M | $288.7M | ||
| Q3 24 | $14.7M | $283.4M | ||
| Q2 24 | $15.8M | $282.8M | ||
| Q1 24 | $18.1M | $279.9M |
| Q4 25 | $35.5M | $272.4M | ||
| Q3 25 | $37.6M | $289.4M | ||
| Q2 25 | $39.1M | $285.7M | ||
| Q1 25 | $47.5M | $331.3M | ||
| Q4 24 | $66.0M | $332.2M | ||
| Q3 24 | $40.1M | $321.3M | ||
| Q2 24 | $38.0M | $321.0M | ||
| Q1 24 | $39.3M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $-1.0M | $27.3M |
| Free Cash FlowOCF − Capex | $-2.2M | $26.8M |
| FCF MarginFCF / Revenue | -38.8% | 308.1% |
| Capex IntensityCapex / Revenue | 20.3% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.5M | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $27.3M | ||
| Q3 25 | $-817.0K | $906.0K | ||
| Q2 25 | $-5.5M | $7.8M | ||
| Q1 25 | $1.5M | $8.3M | ||
| Q4 24 | $-2.1M | $23.0M | ||
| Q3 24 | $-2.7M | $6.3M | ||
| Q2 24 | $571.0K | $5.4M | ||
| Q1 24 | $-1.9M | $4.4M |
| Q4 25 | $-2.2M | $26.8M | ||
| Q3 25 | $-1.6M | $557.0K | ||
| Q2 25 | $-5.6M | $7.7M | ||
| Q1 25 | $907.0K | $8.2M | ||
| Q4 24 | $-4.6M | $22.9M | ||
| Q3 24 | $-3.4M | $6.3M | ||
| Q2 24 | $170.0K | $5.4M | ||
| Q1 24 | $-2.2M | — |
| Q4 25 | -38.8% | 308.1% | ||
| Q3 25 | -23.4% | 5.1% | ||
| Q2 25 | -67.0% | 77.0% | ||
| Q1 25 | 13.5% | 69.1% | ||
| Q4 24 | -46.9% | 185.3% | ||
| Q3 24 | -53.0% | 60.4% | ||
| Q2 24 | 5.0% | 49.7% | ||
| Q1 24 | -65.2% | — |
| Q4 25 | 20.3% | 5.9% | ||
| Q3 25 | 11.5% | 3.2% | ||
| Q2 25 | 1.7% | 0.6% | ||
| Q1 25 | 8.8% | 0.8% | ||
| Q4 24 | 25.4% | 1.1% | ||
| Q3 24 | 10.3% | 0.3% | ||
| Q2 24 | 11.8% | 0.2% | ||
| Q1 24 | 6.4% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | -0.06× | 3.93× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PPSI
| Total Revenue | $4.0M | 70% |
| Other | $1.7M | 30% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
