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Side-by-side financial comparison of INNOVATE Corp. (VATE) and Westrock Coffee Co (WEST). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $339.5M, roughly 1.1× Westrock Coffee Co). INNOVATE Corp. runs the higher net margin — -1.9% vs -6.6%, a 4.7% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 48.3%). Over the past eight quarters, Westrock Coffee Co's revenue compounded faster (32.8% CAGR vs 10.2%).
Innovate Corp. is an American public financial services company founded in 1994.
Westrock Coffee Co is a global integrated coffee, tea and functional beverage solutions provider. It sources, roasts, manufactures and distributes coffee products, ready-to-drink beverages and custom formulations for retail, foodservice and commercial clients across North America and other key markets.
VATE vs WEST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $382.7M | $339.5M |
| Net Profit | $-7.4M | $-22.6M |
| Gross Margin | 15.4% | 11.5% |
| Operating Margin | 3.7% | -2.6% |
| Net Margin | -1.9% | -6.6% |
| Revenue YoY | 61.7% | 48.3% |
| Net Profit YoY | 55.4% | 8.3% |
| EPS (diluted) | $-0.57 | $-0.22 |
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 | $382.7M | $339.5M | ||
| Q3 25 | $347.1M | $354.8M | ||
| Q2 25 | $242.0M | $280.9M | ||
| Q1 25 | $274.2M | $213.8M | ||
| Q4 24 | $236.6M | $229.0M | ||
| Q3 24 | $242.2M | $220.9M | ||
| Q2 24 | $313.1M | $208.4M | ||
| Q1 24 | $315.2M | $192.5M |
| Q4 25 | $-7.4M | $-22.6M | ||
| Q3 25 | $-8.9M | $-19.1M | ||
| Q2 25 | $-19.8M | $-21.6M | ||
| Q1 25 | $-24.5M | $-27.2M | ||
| Q4 24 | $-16.6M | $-24.6M | ||
| Q3 24 | $-15.0M | $-14.3M | ||
| Q2 24 | $14.4M | $-17.8M | ||
| Q1 24 | $-17.4M | $-23.7M |
| Q4 25 | 15.4% | 11.5% | ||
| Q3 25 | 14.3% | 11.7% | ||
| Q2 25 | 18.8% | 14.7% | ||
| Q1 25 | 16.6% | 13.6% | ||
| Q4 24 | 19.6% | 16.6% | ||
| Q3 24 | 19.9% | 16.8% | ||
| Q2 24 | 21.0% | 19.9% | ||
| Q1 24 | 15.4% | 19.4% |
| Q4 25 | 3.7% | -2.6% | ||
| Q3 25 | 1.8% | -2.4% | ||
| Q2 25 | 2.0% | -5.3% | ||
| Q1 25 | 1.2% | -6.1% | ||
| Q4 24 | 1.1% | -4.3% | ||
| Q3 24 | 2.4% | -5.8% | ||
| Q2 24 | 9.2% | -7.9% | ||
| Q1 24 | 0.9% | -5.3% |
| Q4 25 | -1.9% | -6.6% | ||
| Q3 25 | -2.6% | -5.4% | ||
| Q2 25 | -8.2% | -7.7% | ||
| Q1 25 | -8.9% | -12.7% | ||
| Q4 24 | -7.0% | -10.7% | ||
| Q3 24 | -6.2% | -6.5% | ||
| Q2 24 | 4.6% | -8.5% | ||
| Q1 24 | -5.5% | -12.3% |
| Q4 25 | $-0.57 | $-0.22 | ||
| Q3 25 | $-0.71 | $-0.20 | ||
| Q2 25 | $-1.67 | $-0.23 | ||
| Q1 25 | $-1.89 | $-0.29 | ||
| Q4 24 | $-0.72 | $-0.26 | ||
| Q3 24 | $-1.18 | $-0.16 | ||
| Q2 24 | $1.03 | $-0.20 | ||
| Q1 24 | $-2.21 | $-0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $112.1M | $49.9M |
| Total DebtLower is stronger | $80.3M | $444.1M |
| Stockholders' EquityBook value | $-240.1M | $-1.9M |
| Total Assets | $950.1M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.1M | $49.9M | ||
| Q3 25 | $35.5M | $34.0M | ||
| Q2 25 | $33.4M | $44.0M | ||
| Q1 25 | $33.3M | $33.1M | ||
| Q4 24 | $48.8M | $26.2M | ||
| Q3 24 | $51.0M | $22.4M | ||
| Q2 24 | $80.2M | $24.3M | ||
| Q1 24 | $38.4M | $12.6M |
| Q4 25 | $80.3M | $444.1M | ||
| Q3 25 | $97.3M | — | ||
| Q2 25 | $160.1M | — | ||
| Q1 25 | $139.9M | — | ||
| Q4 24 | $500.6M | $393.1M | ||
| Q3 24 | $502.4M | — | ||
| Q2 24 | $638.3M | — | ||
| Q1 24 | $641.5M | — |
| Q4 25 | $-240.1M | $-1.9M | ||
| Q3 25 | $-233.3M | $11.4M | ||
| Q2 25 | $-224.8M | $18.2M | ||
| Q1 25 | $-204.2M | $71.4M | ||
| Q4 24 | $-180.4M | $97.5M | ||
| Q3 24 | $-163.1M | $110.3M | ||
| Q2 24 | $-149.0M | $81.5M | ||
| Q1 24 | $-184.4M | $91.7M |
| Q4 25 | $950.1M | $1.2B | ||
| Q3 25 | $913.2M | $1.2B | ||
| Q2 25 | $890.9M | $1.2B | ||
| Q1 25 | $868.0M | $1.1B | ||
| Q4 24 | $891.1M | $1.1B | ||
| Q3 24 | $897.2M | $1.1B | ||
| Q2 24 | $898.9M | $1.1B | ||
| Q1 24 | $943.5M | $983.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.03× | ||
| 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 | $101.1M | $36.7M |
| Free Cash FlowOCF − Capex | — | $27.8M |
| FCF MarginFCF / Revenue | — | 8.2% |
| Capex IntensityCapex / Revenue | — | 2.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $101.1M | $36.7M | ||
| Q3 25 | $19.2M | $-26.6M | ||
| Q2 25 | $40.4M | $-7.0M | ||
| Q1 25 | $-14.1M | $-22.1M | ||
| Q4 24 | $41.4M | $2.8M | ||
| Q3 24 | $-28.4M | $-332.0K | ||
| Q2 24 | $21.5M | $-23.7M | ||
| Q1 24 | $-25.4M | $8.0M |
| Q4 25 | — | $27.8M | ||
| Q3 25 | $19.0M | $-44.7M | ||
| Q2 25 | — | $-27.5M | ||
| Q1 25 | $-18.8M | $-63.4M | ||
| Q4 24 | $34.2M | $-15.4M | ||
| Q3 24 | $-31.5M | $-36.7M | ||
| Q2 24 | $18.4M | $-59.9M | ||
| Q1 24 | $-31.0M | $-60.9M |
| Q4 25 | — | 8.2% | ||
| Q3 25 | 5.5% | -12.6% | ||
| Q2 25 | — | -9.8% | ||
| Q1 25 | -6.9% | -29.7% | ||
| Q4 24 | 14.5% | -6.7% | ||
| Q3 24 | -13.0% | -16.6% | ||
| Q2 24 | 5.9% | -28.7% | ||
| Q1 24 | -9.8% | -31.7% |
| Q4 25 | — | 2.6% | ||
| Q3 25 | 0.1% | 5.1% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | 1.7% | 19.3% | ||
| Q4 24 | 3.0% | 7.9% | ||
| Q3 24 | 1.3% | 16.5% | ||
| Q2 24 | 1.0% | 17.4% | ||
| Q1 24 | 1.8% | 35.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
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% |
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
