vs
Side-by-side financial comparison of TSS, Inc. (TSSI) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $37.2M, roughly 1.6× Waterstone Financial, Inc.). On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 16.7%). Waterstone Financial, Inc. produced more free cash flow last quarter ($23.0M vs $15.8M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 7.1%).
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.
TSSI vs WSBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $60.9M | $37.2M |
| Net Profit | $12.2M | — |
| Gross Margin | 17.6% | — |
| Operating Margin | 1.5% | 27.0% |
| Net Margin | 20.0% | — |
| Revenue YoY | 21.8% | 16.7% |
| Net Profit YoY | 535.7% | — |
| EPS (diluted) | $0.44 | $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 | $60.9M | $37.2M | ||
| Q3 25 | $41.9M | $37.0M | ||
| Q2 25 | $44.0M | $38.0M | ||
| Q1 25 | $99.0M | $29.7M | ||
| Q4 24 | $50.0M | $31.8M | ||
| Q3 24 | $70.1M | $34.1M | ||
| Q2 24 | $12.2M | $37.2M | ||
| Q1 24 | $15.9M | $32.4M |
| Q4 25 | $12.2M | — | ||
| Q3 25 | $-1.5M | $7.9M | ||
| Q2 25 | $1.5M | $7.7M | ||
| Q1 25 | $3.0M | $3.0M | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | $2.6M | $4.7M | ||
| Q2 24 | $1.4M | $5.7M | ||
| Q1 24 | $15.0K | $3.0M |
| Q4 25 | 17.6% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 17.8% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 17.1% | — |
| Q4 25 | 1.5% | 27.0% | ||
| Q3 25 | -2.2% | 26.6% | ||
| Q2 25 | 5.1% | 25.4% | ||
| Q1 25 | 4.2% | 13.1% | ||
| Q4 24 | 0.0% | 19.5% | ||
| Q3 24 | 5.4% | 17.3% | ||
| Q2 24 | 14.0% | 19.2% | ||
| Q1 24 | 1.6% | 14.7% |
| Q4 25 | 20.0% | — | ||
| Q3 25 | -3.6% | 21.4% | ||
| Q2 25 | 3.4% | 20.3% | ||
| Q1 25 | 3.0% | 10.2% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.8% | 13.9% | ||
| Q2 24 | 11.5% | 15.4% | ||
| Q1 24 | 0.1% | 9.4% |
| Q4 25 | $0.44 | $0.43 | ||
| Q3 25 | $-0.06 | $0.45 | ||
| Q2 25 | $0.06 | $0.43 | ||
| Q1 25 | $0.12 | $0.17 | ||
| Q4 24 | $0.08 | $0.28 | ||
| Q3 24 | $0.10 | $0.26 | ||
| Q2 24 | $0.06 | $0.31 | ||
| Q1 24 | $0.00 | $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 | $85.5M | — |
| Total DebtLower is stronger | — | $412.3M |
| Stockholders' EquityBook value | $76.6M | $349.4M |
| Total Assets | $184.9M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $85.5M | — | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $23.2M | — | ||
| Q3 24 | $46.4M | — | ||
| Q2 24 | $8.3M | — | ||
| Q1 24 | $14.4M | — |
| 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 | $76.6M | $349.4M | ||
| Q3 25 | $63.4M | $345.5M | ||
| Q2 25 | $9.5M | $341.5M | ||
| Q1 25 | $9.4M | $341.4M | ||
| Q4 24 | $7.1M | $339.1M | ||
| Q3 24 | $7.7M | $342.0M | ||
| Q2 24 | $5.2M | $334.9M | ||
| Q1 24 | $3.7M | $338.0M |
| Q4 25 | $184.9M | $2.3B | ||
| Q3 25 | $165.4M | $2.3B | ||
| Q2 25 | $139.5M | $2.3B | ||
| Q1 25 | $113.5M | $2.2B | ||
| Q4 24 | $96.6M | $2.2B | ||
| Q3 24 | $67.3M | $2.2B | ||
| Q2 24 | $28.9M | $2.3B | ||
| Q1 24 | $26.8M | $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 | $16.3M | $24.2M |
| Free Cash FlowOCF − Capex | $15.8M | $23.0M |
| FCF MarginFCF / Revenue | 25.9% | 61.9% |
| Capex IntensityCapex / Revenue | 0.9% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $24.2M | ||
| Q3 25 | $-18.4M | $32.7M | ||
| Q2 25 | $16.3M | $-38.4M | ||
| Q1 25 | $20.6M | $26.7M | ||
| Q4 24 | $-21.6M | $48.1M | ||
| Q3 24 | $38.6M | $74.1M | ||
| Q2 24 | $-4.3M | $-39.5M | ||
| Q1 24 | $2.6M | $-9.9M |
| Q4 25 | $15.8M | $23.0M | ||
| Q3 25 | $-24.9M | $32.4M | ||
| Q2 25 | $5.4M | $-38.5M | ||
| Q1 25 | $5.8M | $26.5M | ||
| Q4 24 | $-28.4M | $47.0M | ||
| Q3 24 | $38.6M | $73.9M | ||
| Q2 24 | $-6.0M | $-39.7M | ||
| Q1 24 | $2.6M | $-10.3M |
| Q4 25 | 25.9% | 61.9% | ||
| Q3 25 | -59.3% | 87.5% | ||
| Q2 25 | 12.3% | -101.2% | ||
| Q1 25 | 5.8% | 89.2% | ||
| Q4 24 | -56.7% | 147.5% | ||
| Q3 24 | 55.1% | 216.9% | ||
| Q2 24 | -49.4% | -106.7% | ||
| Q1 24 | 16.4% | -31.9% |
| Q4 25 | 0.9% | 3.1% | ||
| Q3 25 | 15.3% | 0.8% | ||
| Q2 25 | 24.8% | 0.2% | ||
| Q1 25 | 15.0% | 0.9% | ||
| Q4 24 | 13.4% | 3.5% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | 13.8% | 0.4% | ||
| Q1 24 | 0.2% | 1.2% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | 11.02× | -4.98× | ||
| Q1 25 | 6.93× | 8.81× | ||
| Q4 24 | -11.32× | — | ||
| Q3 24 | 14.60× | 15.67× | ||
| Q2 24 | -3.09× | -6.92× | ||
| Q1 24 | 176.40× | -3.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
WSBF
Segment breakdown not available.
