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Side-by-side financial comparison of Southland Holdings, Inc. (SLND) and Stoke Therapeutics, Inc. (STOK). Click either name above to swap in a different company.

Stoke Therapeutics, Inc. is the larger business by last-quarter revenue ($158.6M vs $104.0M, roughly 1.5× Southland Holdings, Inc.). Stoke Therapeutics, Inc. runs the higher net margin — 71.2% vs -208.2%, a 279.4% gap on every dollar of revenue. On growth, Stoke Therapeutics, Inc. posted the faster year-over-year revenue change (3661.1% vs -61.1%). Stoke Therapeutics, Inc. produced more free cash flow last quarter ($131.7M vs $9.3M).

Southland Holdings, Inc. is a leading North American infrastructure construction firm. It offers full-suite services for transportation projects including highways, bridges and airports, water and wastewater system construction, and commercial site development, serving both public sector and private industry clients across regional core markets.

Stoke Therapeutics, Inc. is a clinical-stage biotechnology company developing innovative RNA-targeted therapies for severe rare genetic diseases. Its lead candidates address unmet needs for Dravet syndrome, a rare epilepsy, and other neurological monogenic disorders, serving patients across North America and global markets.

SLND vs STOK — Head-to-Head

Bigger by revenue
STOK
STOK
1.5× larger
STOK
$158.6M
$104.0M
SLND
Growing faster (revenue YoY)
STOK
STOK
+3722.2% gap
STOK
3661.1%
-61.1%
SLND
Higher net margin
STOK
STOK
279.4% more per $
STOK
71.2%
-208.2%
SLND
More free cash flow
STOK
STOK
$122.4M more FCF
STOK
$131.7M
$9.3M
SLND

Income Statement — Q4 FY2025 vs Q1 FY2025

Metric
SLND
SLND
STOK
STOK
Revenue
$104.0M
$158.6M
Net Profit
$-216.4M
$112.9M
Gross Margin
-186.0%
Operating Margin
-202.4%
70.2%
Net Margin
-208.2%
71.2%
Revenue YoY
-61.1%
3661.1%
Net Profit YoY
-5108.5%
528.0%
EPS (diluted)
$-4.01
$1.90

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
SLND
SLND
STOK
STOK
Q4 25
$104.0M
Q3 25
$213.3M
Q2 25
$215.4M
Q1 25
$239.5M
$158.6M
Q4 24
$267.3M
$22.6M
Q3 24
$173.3M
Q2 24
$251.5M
Q1 24
$288.1M
Net Profit
SLND
SLND
STOK
STOK
Q4 25
$-216.4M
Q3 25
$-75.3M
Q2 25
$-10.3M
Q1 25
$-4.6M
$112.9M
Q4 24
$-4.2M
$-10.5M
Q3 24
$-54.7M
Q2 24
$-46.1M
Q1 24
$-406.0K
Gross Margin
SLND
SLND
STOK
STOK
Q4 25
-186.0%
Q3 25
1.5%
Q2 25
6.2%
Q1 25
9.0%
Q4 24
2.9%
Q3 24
-29.5%
Q2 24
-15.9%
Q1 24
7.1%
Operating Margin
SLND
SLND
STOK
STOK
Q4 25
-202.4%
Q3 25
-5.3%
Q2 25
-0.1%
Q1 25
2.1%
70.2%
Q4 24
-3.0%
-60.4%
Q3 24
-39.6%
Q2 24
-22.1%
Q1 24
2.1%
Net Margin
SLND
SLND
STOK
STOK
Q4 25
-208.2%
Q3 25
-35.3%
Q2 25
-4.8%
Q1 25
-1.9%
71.2%
Q4 24
-1.6%
-46.4%
Q3 24
-31.6%
Q2 24
-18.3%
Q1 24
-0.1%
EPS (diluted)
SLND
SLND
STOK
STOK
Q4 25
$-4.01
Q3 25
$-1.39
Q2 25
$-0.19
Q1 25
$-0.08
$1.90
Q4 24
$-0.08
$-0.15
Q3 24
$-1.14
Q2 24
$-0.96
Q1 24
$-0.01

Balance Sheet & Financial Strength

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

Metric
SLND
SLND
STOK
STOK
Cash + ST InvestmentsLiquidity on hand
$52.7M
$274.8M
Total DebtLower is stronger
$257.7M
Stockholders' EquityBook value
$-140.9M
$350.1M
Total Assets
$989.3M
$406.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SLND
SLND
STOK
STOK
Q4 25
$52.7M
Q3 25
$40.5M
Q2 25
$46.5M
Q1 25
$65.1M
$274.8M
Q4 24
$72.2M
$128.0M
Q3 24
$91.4M
Q2 24
$52.4M
Q1 24
$31.2M
Total Debt
SLND
SLND
STOK
STOK
Q4 25
$257.7M
Q3 25
$267.8M
Q2 25
$278.6M
Q1 25
$288.1M
Q4 24
$300.1M
Q3 24
$318.3M
Q2 24
$307.8M
Q1 24
$302.0M
Stockholders' Equity
SLND
SLND
STOK
STOK
Q4 25
$-140.9M
Q3 25
$75.0M
Q2 25
$151.1M
Q1 25
$159.1M
$350.1M
Q4 24
$163.7M
$229.0M
Q3 24
$149.1M
Q2 24
$203.3M
Q1 24
$249.3M
Total Assets
SLND
SLND
STOK
STOK
Q4 25
$989.3M
Q3 25
$1.1B
Q2 25
$1.2B
Q1 25
$1.2B
$406.9M
Q4 24
$1.2B
$271.6M
Q3 24
$1.2B
Q2 24
$1.3B
Q1 24
$1.2B
Debt / Equity
SLND
SLND
STOK
STOK
Q4 25
Q3 25
3.57×
Q2 25
1.84×
Q1 25
1.81×
Q4 24
1.83×
Q3 24
2.14×
Q2 24
1.51×
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
SLND
SLND
STOK
STOK
Operating Cash FlowLast quarter
$9.7M
$131.8M
Free Cash FlowOCF − Capex
$9.3M
$131.7M
FCF MarginFCF / Revenue
8.9%
83.0%
Capex IntensityCapex / Revenue
0.4%
0.1%
Cash ConversionOCF / Net Profit
1.17×
TTM Free Cash FlowTrailing 4 quarters
$12.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SLND
SLND
STOK
STOK
Q4 25
$9.7M
Q3 25
$5.9M
Q2 25
$-5.4M
Q1 25
$6.4M
$131.8M
Q4 24
$-10.3M
$-23.2M
Q3 24
$-5.3M
Q2 24
$27.4M
Q1 24
$-9.9M
Free Cash Flow
SLND
SLND
STOK
STOK
Q4 25
$9.3M
Q3 25
$5.3M
Q2 25
$-6.5M
Q1 25
$4.6M
$131.7M
Q4 24
$-11.5M
$-23.2M
Q3 24
$-7.3M
Q2 24
$26.3M
Q1 24
$-13.0M
FCF Margin
SLND
SLND
STOK
STOK
Q4 25
8.9%
Q3 25
2.5%
Q2 25
-3.0%
Q1 25
1.9%
83.0%
Q4 24
-4.3%
-102.7%
Q3 24
-4.2%
Q2 24
10.5%
Q1 24
-4.5%
Capex Intensity
SLND
SLND
STOK
STOK
Q4 25
0.4%
Q3 25
0.3%
Q2 25
0.5%
Q1 25
0.7%
0.1%
Q4 24
0.5%
0.2%
Q3 24
1.1%
Q2 24
0.4%
Q1 24
1.1%
Cash Conversion
SLND
SLND
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
1.17×
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

SLND
SLND

Civil$58.4M56%
Transportation$45.6M44%

STOK
STOK

Segment breakdown not available.

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