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Side-by-side financial comparison of Riot Platforms, Inc. (RIOT) and Science Applications International Corp (SAIC), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Science Applications International Corp is the larger business by last-quarter revenue ($1.9B vs $152.8M, roughly 12.2× Riot Platforms, Inc.). Science Applications International Corp runs the higher net margin — -452.0% vs 4.2%, a 456.1% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs 2.6%). Science Applications International Corp produced more free cash flow last quarter ($120.0M vs $-188.0M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 2.3%).
Meta Platforms, Inc. is an American multinational technology company headquartered in Menlo Park, California. Meta owns and operates several prominent social media platforms and communication services, including Facebook, Instagram, WhatsApp, Messenger, Threads and Manus. The company also operates an advertising network for its own sites and third parties; as of 2023, advertising accounted for 97.8 percent of its total revenue. Meta has been described as a part of Big Tech, which refers to th...
Science Applications International Corporation, Inc. (SAIC) is an American technology company headquartered in Reston, Virginia that provides government services and information technology support.
RIOT vs SAIC — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $152.8M | $1.9B |
| Net Profit | $-690.7M | $78.0M |
| Gross Margin | — | 12.2% |
| Operating Margin | -447.9% | 6.9% |
| Net Margin | -452.0% | 4.2% |
| Revenue YoY | 7.2% | 2.6% |
| Net Profit YoY | -606.3% | -3.7% |
| EPS (diluted) | $-1.89 | $1.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $152.8M | $1.9B | ||
| Q3 25 | $180.2M | — | ||
| Q2 25 | $153.0M | $1.9B | ||
| Q1 25 | $161.4M | — | ||
| Q4 24 | $142.6M | $2.0B | ||
| Q3 24 | $84.8M | $1.8B | ||
| Q2 24 | $70.0M | $1.8B | ||
| Q1 24 | $79.3M | $1.7B |
| Q4 25 | $-690.7M | $78.0M | ||
| Q3 25 | $104.5M | — | ||
| Q2 25 | $219.5M | $68.0M | ||
| Q1 25 | $-296.4M | — | ||
| Q4 24 | $136.4M | $106.0M | ||
| Q3 24 | $-154.4M | $81.0M | ||
| Q2 24 | $-84.4M | $77.0M | ||
| Q1 24 | $211.8M | $39.0M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | -447.9% | 6.9% | ||
| Q3 25 | 44.4% | — | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | -144.9% | — | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | -143.3% | 7.4% | ||
| Q2 24 | -167.2% | 7.1% | ||
| Q1 24 | — | 4.5% |
| Q4 25 | -452.0% | 4.2% | ||
| Q3 25 | 58.0% | — | ||
| Q2 25 | 143.4% | 3.6% | ||
| Q1 25 | -183.6% | — | ||
| Q4 24 | 95.7% | 5.4% | ||
| Q3 24 | -182.1% | 4.5% | ||
| Q2 24 | -120.6% | 4.2% | ||
| Q1 24 | 267.1% | 2.2% |
| Q4 25 | $-1.89 | $1.69 | ||
| Q3 25 | $0.26 | — | ||
| Q2 25 | $0.58 | $1.42 | ||
| Q1 25 | $-0.90 | — | ||
| Q4 24 | $0.39 | $2.13 | ||
| Q3 24 | $-0.54 | $1.58 | ||
| Q2 24 | $-0.32 | $1.48 | ||
| Q1 24 | $0.81 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $233.5M | $45.0M |
| Total DebtLower is stronger | $840.8M | $2.5B |
| Stockholders' EquityBook value | $2.9B | $1.5B |
| Total Assets | $3.9B | $5.4B |
| Debt / EquityLower = less leverage | 0.29× | 1.64× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $233.5M | $45.0M | ||
| Q3 25 | $330.7M | — | ||
| Q2 25 | $255.4M | $47.0M | ||
| Q1 25 | $163.7M | — | ||
| Q4 24 | $277.9M | $46.0M | ||
| Q3 24 | $355.7M | $48.0M | ||
| Q2 24 | $481.2M | $49.0M | ||
| Q1 24 | $688.5M | $94.0M |
| Q4 25 | $840.8M | $2.5B | ||
| Q3 25 | $5.3M | — | ||
| Q2 25 | $5.3M | $2.3B | ||
| Q1 25 | $5.3M | — | ||
| Q4 24 | $5.3M | $2.2B | ||
| Q3 24 | $5.7M | $2.2B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $2.9B | $1.5B | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $3.1B | $1.6B | ||
| Q3 24 | $2.7B | $1.6B | ||
| Q2 24 | $2.6B | $1.8B | ||
| Q1 24 | $2.5B | $1.8B |
| Q4 25 | $3.9B | $5.4B | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.3B | $5.2B | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.9B | $5.3B | ||
| Q3 24 | $2.9B | $5.3B | ||
| Q2 24 | $2.7B | $5.3B | ||
| Q1 24 | $2.6B | $5.3B |
| Q4 25 | 0.29× | 1.64× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | 1.52× | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | 1.34× | ||
| Q3 24 | 0.00× | 1.33× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 1.18× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-105.5M | $129.0M |
| Free Cash FlowOCF − Capex | $-188.0M | $120.0M |
| FCF MarginFCF / Revenue | -123.0% | 6.4% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 54.0% | 0.5% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-774.3M | $478.0M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-105.5M | $129.0M | ||
| Q3 25 | $-114.0M | — | ||
| Q2 25 | $-231.3M | $100.0M | ||
| Q1 25 | $-122.1M | — | ||
| Q4 24 | $-98.4M | $143.0M | ||
| Q3 24 | $-56.3M | $138.0M | ||
| Q2 24 | $-42.5M | $98.0M | ||
| Q1 24 | $-57.9M | $63.0M |
| Q4 25 | $-188.0M | $120.0M | ||
| Q3 25 | $-139.7M | — | ||
| Q2 25 | $-291.7M | $92.0M | ||
| Q1 25 | $-154.9M | — | ||
| Q4 24 | $-156.6M | $134.0M | ||
| Q3 24 | $-127.6M | $132.0M | ||
| Q2 24 | $-96.1M | $92.0M | ||
| Q1 24 | $-115.2M | $52.0M |
| Q4 25 | -123.0% | 6.4% | ||
| Q3 25 | -77.5% | — | ||
| Q2 25 | -190.7% | 4.9% | ||
| Q1 25 | -96.0% | — | ||
| Q4 24 | -109.8% | 6.8% | ||
| Q3 24 | -150.5% | 7.3% | ||
| Q2 24 | -137.2% | 5.0% | ||
| Q1 24 | -145.2% | 3.0% |
| Q4 25 | 54.0% | 0.5% | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 39.5% | 0.4% | ||
| Q1 25 | 20.4% | — | ||
| Q4 24 | 40.8% | 0.5% | ||
| Q3 24 | 84.1% | 0.3% | ||
| Q2 24 | 76.5% | 0.3% | ||
| Q1 24 | 72.3% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | -1.09× | — | ||
| Q2 25 | -1.05× | 1.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.72× | 1.35× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | -0.27× | 1.62× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
SAIC
| Prime Contractor | $1.3B | 71% |
| Civilian | $427.0M | 23% |
| Subcontractor | $116.0M | 6% |
| Commercial State And Local Agencies | $7.0M | 0% |
