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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $455.0M, roughly 1.4× American Homes 4 Rent). American Homes 4 Rent runs the higher net margin — 31.7% vs -2.0%, a 33.7% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Cloudflare, Inc. is an American technology company headquartered in San Francisco, California, that provides a range of internet services, including content delivery network (CDN) services, cloud cybersecurity, DDoS mitigation, and ICANN-accredited domain registration. The company's services act primarily as a reverse proxy between website visitors and a customer's hosting provider, improving performance and protecting against malicious traffic.
AMH vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $614.5M |
| Net Profit | $144.3M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | — | -8.0% |
| Net Margin | 31.7% | -2.0% |
| Revenue YoY | 4.2% | 33.6% |
| Net Profit YoY | 0.3% | 6.0% |
| EPS (diluted) | $0.33 | $-0.03 |
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 | $455.0M | $614.5M | ||
| Q3 25 | $478.5M | $562.0M | ||
| Q2 25 | $457.5M | $512.3M | ||
| Q1 25 | $459.3M | $479.1M | ||
| Q4 24 | $436.6M | $459.9M | ||
| Q3 24 | $445.1M | $430.1M | ||
| Q2 24 | $423.5M | $401.0M | ||
| Q1 24 | $423.6M | $378.6M |
| Q4 25 | $144.3M | $-12.1M | ||
| Q3 25 | $116.8M | $-1.3M | ||
| Q2 25 | $123.6M | $-50.4M | ||
| Q1 25 | $128.7M | $-38.5M | ||
| Q4 24 | $143.9M | $-12.8M | ||
| Q3 24 | $87.6M | $-15.3M | ||
| Q2 24 | $108.5M | $-15.1M | ||
| Q1 24 | $128.1M | $-35.5M |
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.5% |
| Q4 25 | — | -8.0% | ||
| Q3 25 | — | -6.7% | ||
| Q2 25 | — | -13.1% | ||
| Q1 25 | — | -11.1% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | — | -7.2% | ||
| Q2 24 | — | -8.7% | ||
| Q1 24 | — | -14.4% |
| Q4 25 | 31.7% | -2.0% | ||
| Q3 25 | 24.4% | -0.2% | ||
| Q2 25 | 27.0% | -9.8% | ||
| Q1 25 | 28.0% | -8.0% | ||
| Q4 24 | 33.0% | -2.8% | ||
| Q3 24 | 19.7% | -3.6% | ||
| Q2 24 | 25.6% | -3.8% | ||
| Q1 24 | 30.2% | -9.4% |
| Q4 25 | $0.33 | $-0.03 | ||
| Q3 25 | $0.27 | $0.00 | ||
| Q2 25 | $0.28 | $-0.15 | ||
| Q1 25 | $0.30 | $-0.11 | ||
| Q4 24 | $0.33 | $-0.05 | ||
| Q3 24 | $0.20 | $-0.04 | ||
| Q2 24 | $0.25 | $-0.04 | ||
| Q1 24 | $0.30 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $943.5M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $7.0B | $1.5B |
| Total Assets | $13.2B | $6.0B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $943.5M | ||
| Q3 25 | $45.6M | $1.1B | ||
| Q2 25 | $323.3M | $1.5B | ||
| Q1 25 | $69.7M | $204.5M | ||
| Q4 24 | $199.4M | $147.7M | ||
| Q3 24 | $162.5M | $182.9M | ||
| Q2 24 | $718.4M | $157.0M | ||
| Q1 24 | $124.8M | $254.4M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $7.0B | $1.5B | ||
| Q3 25 | $7.2B | $1.3B | ||
| Q2 25 | $7.2B | $1.2B | ||
| Q1 25 | $7.2B | $1.4B | ||
| Q4 24 | $7.2B | $1.0B | ||
| Q3 24 | $7.0B | $973.1M | ||
| Q2 24 | $7.0B | $881.5M | ||
| Q1 24 | $7.0B | $797.2M |
| Q4 25 | $13.2B | $6.0B | ||
| Q3 25 | $13.3B | $5.8B | ||
| Q2 25 | $13.6B | $5.6B | ||
| Q1 25 | $13.3B | $3.7B | ||
| Q4 24 | $13.4B | $3.3B | ||
| Q3 24 | $12.8B | $3.1B | ||
| Q2 24 | $13.3B | $2.9B | ||
| Q1 24 | $12.8B | $2.8B |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.64× | — |
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 | $864.3M | $190.4M |
| Free Cash FlowOCF − Capex | $823.7M | $105.2M |
| FCF MarginFCF / Revenue | 181.0% | 17.1% |
| Capex IntensityCapex / Revenue | 8.9% | 13.9% |
| Cash ConversionOCF / Net Profit | 5.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $190.4M | ||
| Q3 25 | $223.3M | $167.1M | ||
| Q2 25 | $271.9M | $99.8M | ||
| Q1 25 | $223.4M | $145.8M | ||
| Q4 24 | $811.5M | $127.3M | ||
| Q3 24 | $233.6M | $104.7M | ||
| Q2 24 | $274.0M | $74.8M | ||
| Q1 24 | $201.8M | $73.6M |
| Q4 25 | $823.7M | $105.2M | ||
| Q3 25 | $214.5M | $82.5M | ||
| Q2 25 | $257.7M | $39.9M | ||
| Q1 25 | $215.9M | $59.9M | ||
| Q4 24 | $777.5M | $54.2M | ||
| Q3 24 | $225.3M | $54.5M | ||
| Q2 24 | $263.3M | $45.2M | ||
| Q1 24 | $191.0M | $41.5M |
| Q4 25 | 181.0% | 17.1% | ||
| Q3 25 | 44.8% | 14.7% | ||
| Q2 25 | 56.3% | 7.8% | ||
| Q1 25 | 47.0% | 12.5% | ||
| Q4 24 | 178.1% | 11.8% | ||
| Q3 24 | 50.6% | 12.7% | ||
| Q2 24 | 62.2% | 11.3% | ||
| Q1 24 | 45.1% | 11.0% |
| Q4 25 | 8.9% | 13.9% | ||
| Q3 25 | 1.8% | 15.1% | ||
| Q2 25 | 3.1% | 11.7% | ||
| Q1 25 | 1.6% | 17.9% | ||
| Q4 24 | 7.8% | 15.9% | ||
| Q3 24 | 1.9% | 11.7% | ||
| Q2 24 | 2.5% | 7.4% | ||
| Q1 24 | 2.6% | 8.5% |
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | — | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
