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Side-by-side financial comparison of RCI HOSPITALITY HOLDINGS, INC. (RICK) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $70.9M, roughly 1.4× RCI HOSPITALITY HOLDINGS, INC.). Latham Group, Inc. runs the higher net margin — -7.0% vs -7.8%, a 0.7% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -3.1%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $11.5M). Over the past eight quarters, RCI HOSPITALITY HOLDINGS, INC.'s revenue compounded faster (-2.0% CAGR vs -4.9%).
RCI Hospitality Holdings, Inc., through its subsidiaries, operates strip clubs, nightclubs, sports bars/restaurants, and a media and convention company that serves the adult club industry. RCI went public with an IPO in 1995 is listed on The NASDAQ Global Market under the symbol RICK.
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.
RICK vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $70.9M | $100.0M |
| Net Profit | $-5.5M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | -0.7% | -10.7% |
| Net Margin | -7.8% | -7.0% |
| Revenue YoY | -3.1% | 14.5% |
| Net Profit YoY | -2354.9% | 76.0% |
| EPS (diluted) | $-0.60 | $-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 | — | $100.0M | ||
| Q3 25 | $70.9M | $161.9M | ||
| Q2 25 | $71.1M | $172.6M | ||
| Q1 25 | $65.9M | $111.4M | ||
| Q4 24 | $71.5M | $87.3M | ||
| Q3 24 | $73.2M | $150.5M | ||
| Q2 24 | $76.2M | $160.1M | ||
| Q1 24 | $72.3M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-5.5M | $8.1M | ||
| Q2 25 | $4.1M | $16.0M | ||
| Q1 25 | $3.2M | $-6.0M | ||
| Q4 24 | $9.0M | $-29.2M | ||
| Q3 24 | $244.0K | $5.9M | ||
| Q2 24 | $-5.2M | $13.3M | ||
| Q1 24 | $774.0K | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | -0.7% | 13.3% | ||
| Q2 25 | 12.2% | 14.3% | ||
| Q1 25 | 12.4% | -4.4% | ||
| Q4 24 | 19.5% | -14.9% | ||
| Q3 24 | 4.8% | 8.9% | ||
| Q2 24 | -3.3% | 12.5% | ||
| Q1 24 | 6.4% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -7.8% | 5.0% | ||
| Q2 25 | 5.7% | 9.3% | ||
| Q1 25 | 4.9% | -5.4% | ||
| Q4 24 | 12.6% | -33.4% | ||
| Q3 24 | 0.3% | 3.9% | ||
| Q2 24 | -6.9% | 8.3% | ||
| Q1 24 | 1.1% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-0.60 | $0.07 | ||
| Q2 25 | $0.46 | $0.13 | ||
| Q1 25 | $0.36 | $-0.05 | ||
| Q4 24 | $1.01 | $-0.24 | ||
| Q3 24 | $0.04 | $0.05 | ||
| Q2 24 | $-0.56 | $0.11 | ||
| Q1 24 | $0.08 | $-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 | $33.7M | — |
| Total DebtLower is stronger | $238.2M | $279.8M |
| Stockholders' EquityBook value | $261.1M | $405.9M |
| Total Assets | $596.9M | $823.2M |
| Debt / EquityLower = less leverage | 0.91× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $33.7M | — | ||
| Q2 25 | $29.3M | — | ||
| Q1 25 | $32.7M | — | ||
| Q4 24 | $34.7M | — | ||
| Q3 24 | $32.4M | — | ||
| Q2 24 | $34.9M | — | ||
| Q1 24 | $20.0M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | $238.2M | $281.1M | ||
| Q2 25 | $243.8M | $281.5M | ||
| Q1 25 | $244.1M | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | $241.1M | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | — | $405.9M | ||
| Q3 25 | $261.1M | $408.4M | ||
| Q2 25 | $269.5M | $398.4M | ||
| Q1 25 | $268.8M | $381.1M | ||
| Q4 24 | $269.0M | $387.2M | ||
| Q3 24 | $263.4M | $416.6M | ||
| Q2 24 | $271.2M | $408.1M | ||
| Q1 24 | $285.8M | $391.8M |
| Q4 25 | — | $823.2M | ||
| Q3 25 | $596.9M | $844.4M | ||
| Q2 25 | $597.4M | $822.1M | ||
| Q1 25 | $589.8M | $824.6M | ||
| Q4 24 | $586.2M | $794.2M | ||
| Q3 24 | $584.4M | $853.4M | ||
| Q2 24 | $601.0M | $830.0M | ||
| Q1 24 | $609.9M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | 0.91× | 0.69× | ||
| Q2 25 | 0.90× | 0.71× | ||
| Q1 25 | 0.91× | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | 0.92× | 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 | $13.7M | $23.3M |
| Free Cash FlowOCF − Capex | $11.5M | $14.1M |
| FCF MarginFCF / Revenue | 16.2% | 14.1% |
| Capex IntensityCapex / Revenue | 3.2% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $34.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $13.7M | $51.0M | ||
| Q2 25 | $13.8M | $36.0M | ||
| Q1 25 | $8.5M | $-46.9M | ||
| Q4 24 | $13.3M | $6.2M | ||
| Q3 24 | $15.7M | $37.2M | ||
| Q2 24 | $15.8M | $52.4M | ||
| Q1 24 | $10.8M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | $11.5M | $45.2M | ||
| Q2 25 | $10.1M | $29.1M | ||
| Q1 25 | $5.7M | $-50.3M | ||
| Q4 24 | $7.6M | $-98.0K | ||
| Q3 24 | $10.3M | $33.2M | ||
| Q2 24 | $9.3M | $47.9M | ||
| Q1 24 | $3.2M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | 16.2% | 27.9% | ||
| Q2 25 | 14.2% | 16.8% | ||
| Q1 25 | 8.6% | -45.2% | ||
| Q4 24 | 10.6% | -0.1% | ||
| Q3 24 | 14.0% | 22.1% | ||
| Q2 24 | 12.3% | 29.9% | ||
| Q1 24 | 4.4% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | 3.2% | 3.6% | ||
| Q2 25 | 5.2% | 4.0% | ||
| Q1 25 | 4.3% | 3.1% | ||
| Q4 24 | 8.0% | 7.2% | ||
| Q3 24 | 7.3% | 2.7% | ||
| Q2 24 | 8.4% | 2.8% | ||
| Q1 24 | 10.6% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | 3.40× | 2.25× | ||
| Q1 25 | 2.65× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 64.14× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | 14.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RICK
| Transferred At Point In Time | $60.8M | 86% |
| Food And Merchandise | $10.4M | 15% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
