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Side-by-side financial comparison of Relay Therapeutics, Inc. (RLAY) and Sachem Capital Corp. (SACH). Click either name above to swap in a different company.

Sachem Capital Corp. is the larger business by last-quarter revenue ($12.0M vs $7.0M, roughly 1.7× Relay Therapeutics, Inc.).

Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.

Sachem Head Capital Management is an American value-oriented investment management firm based in New York City, managed by Scott Ferguson.

RLAY vs SACH — Head-to-Head

Bigger by revenue
SACH
SACH
1.7× larger
SACH
$12.0M
$7.0M
RLAY

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
RLAY
RLAY
SACH
SACH
Revenue
$7.0M
$12.0M
Net Profit
$997.0K
Gross Margin
Operating Margin
-3.1%
Net Margin
8.3%
Revenue YoY
-18.8%
Net Profit YoY
119.7%
EPS (diluted)
$0.00

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.

Revenue
RLAY
RLAY
SACH
SACH
Q4 25
$7.0M
Q3 25
$0
$12.0M
Q2 25
$10.8M
Q1 25
$7.7M
$11.4M
Q4 24
$0
$10.8M
Q3 24
$0
$14.8M
Q2 24
$0
$15.1M
Q1 24
$10.0M
$16.8M
Net Profit
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
$-74.1M
$997.0K
Q2 25
$1.9M
Q1 25
$-77.1M
$904.0K
Q4 24
$-36.1M
Q3 24
$-88.1M
$-5.1M
Q2 24
$-92.2M
$-3.1M
Q1 24
$-81.4M
$4.7M
Operating Margin
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
-3.1%
Q2 25
9.9%
Q1 25
-1105.2%
9.0%
Q4 24
-131.1%
Q3 24
-32.6%
Q2 24
-20.6%
Q1 24
-903.0%
25.4%
Net Margin
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
8.3%
Q2 25
17.5%
Q1 25
-1003.6%
7.9%
Q4 24
-335.6%
Q3 24
-34.2%
Q2 24
-20.2%
Q1 24
-813.3%
27.8%
EPS (diluted)
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
$-0.43
$0.00
Q2 25
$0.02
Q1 25
$-0.46
$0.00
Q4 24
$-0.79
Q3 24
$-0.63
$-0.13
Q2 24
$-0.69
$-0.09
Q1 24
$-0.62
$0.08

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
RLAY
RLAY
SACH
SACH
Cash + ST InvestmentsLiquidity on hand
$84.0M
$12.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$567.1M
$175.6M
Total Assets
$621.3M
$484.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
RLAY
RLAY
SACH
SACH
Q4 25
$84.0M
Q3 25
$91.6M
$12.6M
Q2 25
$23.5M
Q1 25
$93.5M
$25.8M
Q4 24
$124.3M
$19.6M
Q3 24
$152.4M
$7.4M
Q2 24
$134.1M
$12.4M
Q1 24
$152.9M
$56.8M
Total Debt
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
Q2 25
Q1 25
$230.2M
Q4 24
$230.2M
Q3 24
$264.7M
Q2 24
$264.7M
Q1 24
$288.4M
Stockholders' Equity
RLAY
RLAY
SACH
SACH
Q4 25
$567.1M
Q3 25
$607.7M
$175.6M
Q2 25
$177.9M
Q1 25
$721.1M
$179.3M
Q4 24
$777.8M
$181.7M
Q3 24
$838.9M
$220.6M
Q2 24
$681.7M
$230.2M
Q1 24
$745.8M
$237.4M
Total Assets
RLAY
RLAY
SACH
SACH
Q4 25
$621.3M
Q3 25
$670.0M
$484.4M
Q2 25
$501.8M
Q1 25
$799.4M
$491.4M
Q4 24
$871.3M
$492.0M
Q3 24
$930.1M
$555.5M
Q2 24
$772.5M
$586.3M
Q1 24
$841.4M
$626.5M
Debt / Equity
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
Q2 25
Q1 25
1.28×
Q4 24
1.27×
Q3 24
1.20×
Q2 24
1.15×
Q1 24
1.21×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
RLAY
RLAY
SACH
SACH
Operating Cash FlowLast quarter
$-235.5M
$4.9M
Free Cash FlowOCF − Capex
$-235.9M
FCF MarginFCF / Revenue
-3370.0%
Capex IntensityCapex / Revenue
5.9%
Cash ConversionOCF / Net Profit
4.95×
TTM Free Cash FlowTrailing 4 quarters
$-622.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
RLAY
RLAY
SACH
SACH
Q4 25
$-235.5M
Q3 25
$-62.1M
$4.9M
Q2 25
$501.0K
Q1 25
$-73.2M
$191.0K
Q4 24
$-249.1M
$12.9M
Q3 24
$-75.1M
$2.3M
Q2 24
$-65.8M
$7.0M
Q1 24
$-50.3M
$4.2M
Free Cash Flow
RLAY
RLAY
SACH
SACH
Q4 25
$-235.9M
Q3 25
$-62.1M
Q2 25
Q1 25
$-73.6M
Q4 24
$-251.1M
Q3 24
$-75.3M
Q2 24
$-65.8M
Q1 24
$-52.1M
FCF Margin
RLAY
RLAY
SACH
SACH
Q4 25
-3370.0%
Q3 25
Q2 25
Q1 25
-958.4%
Q4 24
Q3 24
Q2 24
Q1 24
-520.7%
Capex Intensity
RLAY
RLAY
SACH
SACH
Q4 25
5.9%
Q3 25
Q2 25
Q1 25
5.0%
Q4 24
Q3 24
Q2 24
Q1 24
17.8%
Cash Conversion
RLAY
RLAY
SACH
SACH
Q4 25
Q3 25
4.95×
Q2 25
0.27×
Q1 25
0.21×
Q4 24
Q3 24
Q2 24
Q1 24
0.90×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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