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Side-by-side financial comparison of STEM, INC. (STEM) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $37.2M, roughly 1.3× Waterstone Financial, Inc.). On growth, Waterstone Financial, Inc. posted the faster year-over-year revenue change (16.7% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 7.1%).
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
Waterstone Financial, Inc. is a U.S. bank holding company headquartered in Wisconsin. It offers retail and commercial banking services, residential mortgages, and wealth management solutions, primarily serving consumers and small to medium-sized businesses across the U.S. Midwest region.
STEM vs WSBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.1M | $37.2M |
| Net Profit | $-16.0M | — |
| Gross Margin | 48.9% | — |
| Operating Margin | -17.7% | 27.0% |
| Net Margin | -33.9% | — |
| Revenue YoY | -15.6% | 16.7% |
| Net Profit YoY | 68.8% | — |
| EPS (diluted) | $-4.40 | $0.43 |
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 | $47.1M | $37.2M | ||
| Q3 25 | $38.2M | $37.0M | ||
| Q2 25 | $38.4M | $38.0M | ||
| Q1 25 | $32.5M | $29.7M | ||
| Q4 24 | $55.8M | $31.8M | ||
| Q3 24 | $29.3M | $34.1M | ||
| Q2 24 | $34.0M | $37.2M | ||
| Q1 24 | $25.5M | $32.4M |
| Q4 25 | $-16.0M | — | ||
| Q3 25 | $-23.8M | $7.9M | ||
| Q2 25 | $202.5M | $7.7M | ||
| Q1 25 | $-25.0M | $3.0M | ||
| Q4 24 | $-51.1M | — | ||
| Q3 24 | $-148.3M | $4.7M | ||
| Q2 24 | $-582.3M | $5.7M | ||
| Q1 24 | $-72.3M | $3.0M |
| Q4 25 | 48.9% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | 32.4% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | 21.2% | — | ||
| Q2 24 | 27.6% | — | ||
| Q1 24 | -95.0% | — |
| Q4 25 | -17.7% | 27.0% | ||
| Q3 25 | -33.6% | 26.6% | ||
| Q2 25 | -34.8% | 25.4% | ||
| Q1 25 | -65.0% | 13.1% | ||
| Q4 24 | -84.4% | 19.5% | ||
| Q3 24 | -493.2% | 17.3% | ||
| Q2 24 | -1705.5% | 19.2% | ||
| Q1 24 | -267.0% | 14.7% |
| Q4 25 | -33.9% | — | ||
| Q3 25 | -62.2% | 21.4% | ||
| Q2 25 | 527.8% | 20.3% | ||
| Q1 25 | -76.9% | 10.2% | ||
| Q4 24 | -91.6% | — | ||
| Q3 24 | -506.3% | 13.9% | ||
| Q2 24 | -1712.6% | 15.4% | ||
| Q1 24 | -283.9% | 9.4% |
| Q4 25 | $-4.40 | $0.43 | ||
| Q3 25 | $-2.84 | $0.45 | ||
| Q2 25 | $-1.79 | $0.43 | ||
| Q1 25 | $-0.15 | $0.17 | ||
| Q4 24 | $-15.29 | $0.28 | ||
| Q3 24 | $-18.24 | $0.26 | ||
| Q2 24 | $-71.81 | $0.31 | ||
| Q1 24 | $-0.46 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $48.9M | — |
| Total DebtLower is stronger | — | $412.3M |
| Stockholders' EquityBook value | $-249.4M | $349.4M |
| Total Assets | $308.9M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.9M | — | ||
| Q3 25 | $43.1M | — | ||
| Q2 25 | $40.8M | — | ||
| Q1 25 | $58.6M | — | ||
| Q4 24 | $56.3M | — | ||
| Q3 24 | $75.4M | — | ||
| Q2 24 | $89.6M | — | ||
| Q1 24 | $112.8M | — |
| Q4 25 | — | $412.3M | ||
| Q3 25 | — | $469.1M | ||
| Q2 25 | — | $465.7M | ||
| Q1 25 | — | $395.9M | ||
| Q4 24 | — | $446.5M | ||
| Q3 24 | — | $560.1M | ||
| Q2 24 | — | $660.8M | ||
| Q1 24 | — | $634.2M |
| Q4 25 | $-249.4M | $349.4M | ||
| Q3 25 | $-235.7M | $345.5M | ||
| Q2 25 | $-214.1M | $341.5M | ||
| Q1 25 | $-417.5M | $341.4M | ||
| Q4 24 | $-398.4M | $339.1M | ||
| Q3 24 | $-344.1M | $342.0M | ||
| Q2 24 | $-203.2M | $334.9M | ||
| Q1 24 | $371.6M | $338.0M |
| Q4 25 | $308.9M | $2.3B | ||
| Q3 25 | $362.6M | $2.3B | ||
| Q2 25 | $379.2M | $2.3B | ||
| Q1 25 | $405.1M | $2.2B | ||
| Q4 24 | $437.4M | $2.2B | ||
| Q3 24 | $537.8M | $2.2B | ||
| Q2 24 | $691.5M | $2.3B | ||
| Q1 24 | $1.3B | $2.2B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | 1.88× |
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 | $8.2M | $24.2M |
| Free Cash FlowOCF − Capex | — | $23.0M |
| FCF MarginFCF / Revenue | — | 61.9% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $24.2M | ||
| Q3 25 | $11.4M | $32.7M | ||
| Q2 25 | $-21.3M | $-38.4M | ||
| Q1 25 | $8.5M | $26.7M | ||
| Q4 24 | $-14.7M | $48.1M | ||
| Q3 24 | $-9.4M | $74.1M | ||
| Q2 24 | $-11.9M | $-39.5M | ||
| Q1 24 | $-621.0K | $-9.9M |
| Q4 25 | — | $23.0M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $-38.5M | ||
| Q1 25 | — | $26.5M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $73.9M | ||
| Q2 24 | — | $-39.7M | ||
| Q1 24 | — | $-10.3M |
| Q4 25 | — | 61.9% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | -101.2% | ||
| Q1 25 | — | 89.2% | ||
| Q4 24 | — | 147.5% | ||
| Q3 24 | — | 216.9% | ||
| Q2 24 | — | -106.7% | ||
| Q1 24 | — | -31.9% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | -0.11× | -4.98× | ||
| Q1 25 | — | 8.81× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.67× | ||
| Q2 24 | — | -6.92× | ||
| Q1 24 | — | -3.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
