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Side-by-side financial comparison of P10, Inc. (PX) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $81.0M, roughly 1.5× P10, Inc.). P10, Inc. runs the higher net margin — 11.7% vs 1.5%, a 10.1% gap on every dollar of revenue. On growth, SMITH & WESSON BRANDS, INC. posted the faster year-over-year revenue change (-3.9% vs -4.7%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $16.3M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs -4.8%).
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
PX vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $81.0M | $124.7M |
| Net Profit | $9.5M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 31.9% | 3.3% |
| Net Margin | 11.7% | 1.5% |
| Revenue YoY | -4.7% | -3.9% |
| Net Profit YoY | 79.0% | -53.6% |
| EPS (diluted) | $0.08 | $0.04 |
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 | $81.0M | $124.7M | ||
| Q3 25 | $75.9M | $85.1M | ||
| Q2 25 | $72.7M | $140.8M | ||
| Q1 25 | $67.7M | $115.9M | ||
| Q4 24 | $85.0M | $129.7M | ||
| Q3 24 | $74.2M | $88.3M | ||
| Q2 24 | $71.1M | $159.1M | ||
| Q1 24 | $66.1M | $137.5M |
| Q4 25 | $9.5M | $1.9M | ||
| Q3 25 | $2.1M | $-3.4M | ||
| Q2 25 | $3.4M | $8.6M | ||
| Q1 25 | $4.5M | $2.1M | ||
| Q4 24 | $5.3M | $4.5M | ||
| Q3 24 | $1.4M | $-1.9M | ||
| Q2 24 | $7.0M | $27.9M | ||
| Q1 24 | $5.0M | $7.9M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | 31.9% | 3.3% | ||
| Q3 25 | 14.1% | -3.5% | ||
| Q2 25 | 24.4% | 9.3% | ||
| Q1 25 | 16.6% | 4.1% | ||
| Q4 24 | 26.9% | 5.8% | ||
| Q3 24 | 11.9% | -1.7% | ||
| Q2 24 | 23.7% | 17.4% | ||
| Q1 24 | 18.3% | 8.2% |
| Q4 25 | 11.7% | 1.5% | ||
| Q3 25 | 2.8% | -4.0% | ||
| Q2 25 | 4.7% | 6.1% | ||
| Q1 25 | 6.7% | 1.8% | ||
| Q4 24 | 6.2% | 3.5% | ||
| Q3 24 | 1.9% | -2.1% | ||
| Q2 24 | 9.8% | 17.5% | ||
| Q1 24 | 7.6% | 5.7% |
| Q4 25 | $0.08 | $0.04 | ||
| Q3 25 | $0.02 | $-0.08 | ||
| Q2 25 | $0.03 | $0.19 | ||
| Q1 25 | $0.04 | $0.05 | ||
| Q4 24 | $0.05 | $0.10 | ||
| Q3 24 | $0.01 | $-0.04 | ||
| Q2 24 | $0.06 | $0.60 | ||
| Q1 24 | $0.04 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.2M | $22.4M |
| Total DebtLower is stronger | $373.2M | — |
| Stockholders' EquityBook value | $403.5M | $363.2M |
| Total Assets | $928.3M | $548.6M |
| Debt / EquityLower = less leverage | 0.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.2M | $22.4M | ||
| Q3 25 | $40.0M | $18.0M | ||
| Q2 25 | $33.4M | $25.2M | ||
| Q1 25 | $74.4M | $26.7M | ||
| Q4 24 | $67.5M | $39.1M | ||
| Q3 24 | $61.5M | $35.5M | ||
| Q2 24 | $31.2M | $60.8M | ||
| Q1 24 | $29.0M | $47.4M |
| Q4 25 | $373.2M | — | ||
| Q3 25 | $393.4M | — | ||
| Q2 25 | $373.0M | — | ||
| Q1 25 | $357.2M | — | ||
| Q4 24 | $319.8M | — | ||
| Q3 24 | $319.4M | — | ||
| Q2 24 | $300.6M | — | ||
| Q1 24 | $314.0M | — |
| Q4 25 | $403.5M | $363.2M | ||
| Q3 25 | $396.8M | $364.4M | ||
| Q2 25 | $388.9M | $372.5M | ||
| Q1 25 | $374.3M | $366.9M | ||
| Q4 24 | $386.9M | $371.5M | ||
| Q3 24 | $394.1M | $380.0M | ||
| Q2 24 | $396.9M | $399.9M | ||
| Q1 24 | $400.1M | $376.4M |
| Q4 25 | $928.3M | $548.6M | ||
| Q3 25 | $936.0M | $554.6M | ||
| Q2 25 | $932.2M | $559.6M | ||
| Q1 25 | $877.4M | $578.9M | ||
| Q4 24 | $869.3M | $587.4M | ||
| Q3 24 | $857.0M | $571.3M | ||
| Q2 24 | $823.2M | $577.4M | ||
| Q1 24 | $832.8M | $570.6M |
| Q4 25 | 0.93× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 0.96× | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 0.83× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.78× | — |
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 | $23.0M | $27.3M |
| Free Cash FlowOCF − Capex | $18.1M | $16.3M |
| FCF MarginFCF / Revenue | 22.3% | 13.1% |
| Capex IntensityCapex / Revenue | 6.0% | 8.8% |
| Cash ConversionOCF / Net Profit | 2.43× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $14.1M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.0M | $27.3M | ||
| Q3 25 | $-8.6M | $-8.1M | ||
| Q2 25 | $13.4M | $40.8M | ||
| Q1 25 | $-4.7M | $-9.8M | ||
| Q4 24 | $101.0M | $-7.4M | ||
| Q3 24 | $27.5M | $-30.8M | ||
| Q2 24 | $34.8M | $43.7M | ||
| Q1 24 | $11.0M | $25.2M |
| Q4 25 | $18.1M | $16.3M | ||
| Q3 25 | $-9.5M | $-12.4M | ||
| Q2 25 | $11.6M | $33.5M | ||
| Q1 25 | $-6.0M | $-16.1M | ||
| Q4 24 | $96.6M | $-10.7M | ||
| Q3 24 | $25.2M | $-35.5M | ||
| Q2 24 | $33.9M | $38.2M | ||
| Q1 24 | $10.7M | $7.0M |
| Q4 25 | 22.3% | 13.1% | ||
| Q3 25 | -12.6% | -14.6% | ||
| Q2 25 | 15.9% | 23.8% | ||
| Q1 25 | -8.9% | -13.9% | ||
| Q4 24 | 113.6% | -8.3% | ||
| Q3 24 | 34.0% | -40.2% | ||
| Q2 24 | 47.7% | 24.0% | ||
| Q1 24 | 16.2% | 5.1% |
| Q4 25 | 6.0% | 8.8% | ||
| Q3 25 | 1.2% | 5.0% | ||
| Q2 25 | 2.5% | 5.2% | ||
| Q1 25 | 1.9% | 5.4% | ||
| Q4 24 | 5.2% | 2.5% | ||
| Q3 24 | 3.0% | 5.3% | ||
| Q2 24 | 1.3% | 3.5% | ||
| Q1 24 | 0.4% | 13.2% |
| Q4 25 | 2.43× | 14.22× | ||
| Q3 25 | -4.01× | — | ||
| Q2 25 | 3.96× | 4.73× | ||
| Q1 25 | -1.05× | -4.68× | ||
| Q4 24 | 19.12× | -1.63× | ||
| Q3 24 | 19.54× | — | ||
| Q2 24 | 4.98× | 1.57× | ||
| Q1 24 | 2.18× | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
SWBI
Segment breakdown not available.
