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Side-by-side financial comparison of TECHPRECISION CORP (TPCS) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $7.1M, roughly 53.9× TECHPRECISION CORP). INNOVATE Corp. runs the higher net margin — -1.9% vs -20.8%, a 18.8% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -6.9%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs -9.2%).
TechPrecision Corp is a manufacturer of custom high-precision metal fabricated components and integrated systems, serving aerospace, defense, medical technology, renewable energy, and industrial end markets primarily across North America and Europe. It specializes in producing tight-tolerance, mission-critical parts that adhere to rigorous industry quality requirements.
Innovate Corp. is an American public financial services company founded in 1994.
TPCS vs VATE — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $382.7M |
| Net Profit | $-1.5M | $-7.4M |
| Gross Margin | 5.4% | 15.4% |
| Operating Margin | -19.1% | 3.7% |
| Net Margin | -20.8% | -1.9% |
| Revenue YoY | -6.9% | 61.7% |
| Net Profit YoY | -84.4% | 55.4% |
| EPS (diluted) | $-0.15 | $-0.57 |
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 | $7.1M | $382.7M | ||
| Q3 25 | $9.1M | $347.1M | ||
| Q2 25 | $7.4M | $242.0M | ||
| Q1 25 | $9.5M | $274.2M | ||
| Q4 24 | $7.6M | $236.6M | ||
| Q3 24 | $8.9M | $242.2M | ||
| Q2 24 | $8.0M | $313.1M | ||
| Q1 24 | $8.6M | $315.2M |
| Q4 25 | $-1.5M | $-7.4M | ||
| Q3 25 | $825.0K | $-8.9M | ||
| Q2 25 | $-597.0K | $-19.8M | ||
| Q1 25 | $112.0K | $-24.5M | ||
| Q4 24 | $-799.0K | $-16.6M | ||
| Q3 24 | $-601.0K | $-15.0M | ||
| Q2 24 | $-1.5M | $14.4M | ||
| Q1 24 | $-5.1M | $-17.4M |
| Q4 25 | 5.4% | 15.4% | ||
| Q3 25 | 27.1% | 14.3% | ||
| Q2 25 | 14.0% | 18.8% | ||
| Q1 25 | 22.0% | 16.6% | ||
| Q4 24 | 13.0% | 19.6% | ||
| Q3 24 | 11.3% | 19.9% | ||
| Q2 24 | 3.0% | 21.0% | ||
| Q1 24 | 14.3% | 15.4% |
| Q4 25 | -19.1% | 3.7% | ||
| Q3 25 | 10.4% | 1.8% | ||
| Q2 25 | -6.3% | 2.0% | ||
| Q1 25 | 3.9% | 1.2% | ||
| Q4 24 | -9.1% | 1.1% | ||
| Q3 24 | -5.5% | 2.4% | ||
| Q2 24 | -16.8% | 9.2% | ||
| Q1 24 | -28.6% | 0.9% |
| Q4 25 | -20.8% | -1.9% | ||
| Q3 25 | 9.1% | -2.6% | ||
| Q2 25 | -8.1% | -8.2% | ||
| Q1 25 | 1.2% | -8.9% | ||
| Q4 24 | -10.5% | -7.0% | ||
| Q3 24 | -6.7% | -6.2% | ||
| Q2 24 | -18.3% | 4.6% | ||
| Q1 24 | -59.5% | -5.5% |
| Q4 25 | $-0.15 | $-0.57 | ||
| Q3 25 | $0.08 | $-0.71 | ||
| Q2 25 | $-0.06 | $-1.67 | ||
| Q1 25 | $0.01 | $-1.89 | ||
| Q4 24 | $-0.08 | $-0.72 | ||
| Q3 24 | $-0.06 | $-1.18 | ||
| Q2 24 | $-0.16 | $1.03 | ||
| Q1 24 | $-0.59 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $50.0K | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $8.0M | $-240.1M |
| Total Assets | $32.8M | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.0K | $112.1M | ||
| Q3 25 | $220.0K | $35.5M | ||
| Q2 25 | $143.0K | $33.4M | ||
| Q1 25 | $195.0K | $33.3M | ||
| Q4 24 | $165.0K | $48.8M | ||
| Q3 24 | $132.0K | $51.0M | ||
| Q2 24 | $44.8K | $80.2M | ||
| Q1 24 | $138.0K | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | $3.0K | $139.9M | ||
| Q4 24 | $19.0K | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $8.0M | $-240.1M | ||
| Q3 25 | $9.1M | $-233.3M | ||
| Q2 25 | $8.2M | $-224.8M | ||
| Q1 25 | $8.7M | $-204.2M | ||
| Q4 24 | $8.1M | $-180.4M | ||
| Q3 24 | $8.9M | $-163.1M | ||
| Q2 24 | $7.9M | $-149.0M | ||
| Q1 24 | $7.8M | $-184.4M |
| Q4 25 | $32.8M | $950.1M | ||
| Q3 25 | $33.8M | $913.2M | ||
| Q2 25 | $32.1M | $890.9M | ||
| Q1 25 | $33.5M | $868.0M | ||
| Q4 24 | $32.2M | $891.1M | ||
| Q3 24 | $35.0M | $897.2M | ||
| Q2 24 | $35.7M | $898.9M | ||
| Q1 24 | $34.7M | $943.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.0K | $101.1M |
| Free Cash FlowOCF − Capex | $-827.0K | — |
| FCF MarginFCF / Revenue | -11.7% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0K | $101.1M | ||
| Q3 25 | $-1.1M | $19.2M | ||
| Q2 25 | $646.0K | $40.4M | ||
| Q1 25 | $396.0K | $-14.1M | ||
| Q4 24 | $-570.0K | $41.4M | ||
| Q3 24 | $-532.0K | $-28.4M | ||
| Q2 24 | $107.0K | $21.5M | ||
| Q1 24 | $-452.0K | $-25.4M |
| Q4 25 | $-827.0K | — | ||
| Q3 25 | $-2.1M | $19.0M | ||
| Q2 25 | $-604.0K | — | ||
| Q1 25 | $-930.0K | $-18.8M | ||
| Q4 24 | $-1.7M | $34.2M | ||
| Q3 24 | $-2.0M | $-31.5M | ||
| Q2 24 | $-94.0K | $18.4M | ||
| Q1 24 | $-900.0K | $-31.0M |
| Q4 25 | -11.7% | — | ||
| Q3 25 | -22.9% | 5.5% | ||
| Q2 25 | -8.2% | — | ||
| Q1 25 | -9.8% | -6.9% | ||
| Q4 24 | -22.9% | 14.5% | ||
| Q3 24 | -21.8% | -13.0% | ||
| Q2 24 | -1.2% | 5.9% | ||
| Q1 24 | -10.5% | -9.8% |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 11.0% | 0.1% | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 14.0% | 1.7% | ||
| Q4 24 | 15.4% | 3.0% | ||
| Q3 24 | 15.9% | 1.3% | ||
| Q2 24 | 2.5% | 1.0% | ||
| Q1 24 | 5.2% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | -1.31× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.54× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TPCS
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
