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Side-by-side financial comparison of AvalonBay Communities (AVB) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
AvalonBay Communities is the larger business by last-quarter revenue ($767.9M vs $614.5M, roughly 1.2× Cloudflare, Inc.). AvalonBay Communities runs the higher net margin — 9040.6% vs -2.0%, a 9042.5% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 3.7%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
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.
AVB vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $614.5M |
| Net Profit | $166.0M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | 64.2% | -8.0% |
| Net Margin | 9040.6% | -2.0% |
| Revenue YoY | 3.7% | 33.6% |
| Net Profit YoY | -41.2% | 6.0% |
| EPS (diluted) | $1.18 | $-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 | $767.9M | $614.5M | ||
| Q3 25 | $766.8M | $562.0M | ||
| Q2 25 | $760.2M | $512.3M | ||
| Q1 25 | $745.9M | $479.1M | ||
| Q4 24 | $740.5M | $459.9M | ||
| Q3 24 | $734.3M | $430.1M | ||
| Q2 24 | $726.0M | $401.0M | ||
| Q1 24 | $712.9M | $378.6M |
| Q4 25 | $166.0M | $-12.1M | ||
| Q3 25 | $381.3M | $-1.3M | ||
| Q2 25 | $268.7M | $-50.4M | ||
| Q1 25 | $236.6M | $-38.5M | ||
| Q4 24 | $282.1M | $-12.8M | ||
| Q3 24 | $372.5M | $-15.3M | ||
| Q2 24 | $253.9M | $-15.1M | ||
| Q1 24 | $173.4M | $-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 | 64.2% | -8.0% | ||
| Q3 25 | 65.7% | -6.7% | ||
| Q2 25 | 67.6% | -13.1% | ||
| Q1 25 | 68.5% | -11.1% | ||
| Q4 24 | 63.1% | -7.5% | ||
| Q3 24 | 65.4% | -7.2% | ||
| Q2 24 | 66.6% | -8.7% | ||
| Q1 24 | 67.2% | -14.4% |
| Q4 25 | 9040.6% | -2.0% | ||
| Q3 25 | 49.7% | -0.2% | ||
| Q2 25 | 35.3% | -9.8% | ||
| Q1 25 | 31.7% | -8.0% | ||
| Q4 24 | 38.1% | -2.8% | ||
| Q3 24 | 50.7% | -3.6% | ||
| Q2 24 | 35.0% | -3.8% | ||
| Q1 24 | 24.3% | -9.4% |
| Q4 25 | $1.18 | $-0.03 | ||
| Q3 25 | $2.68 | $0.00 | ||
| Q2 25 | $1.88 | $-0.15 | ||
| Q1 25 | $1.66 | $-0.11 | ||
| Q4 24 | $1.99 | $-0.05 | ||
| Q3 24 | $2.61 | $-0.04 | ||
| Q2 24 | $1.78 | $-0.04 | ||
| Q1 24 | $1.22 | $-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 | $187.2M | $943.5M |
| Total DebtLower is stronger | $9.3B | — |
| Stockholders' EquityBook value | $11.6B | $1.5B |
| Total Assets | $22.2B | $6.0B |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $943.5M | ||
| Q3 25 | $123.3M | $1.1B | ||
| Q2 25 | $102.8M | $1.5B | ||
| Q1 25 | $53.3M | $204.5M | ||
| Q4 24 | $108.6M | $147.7M | ||
| Q3 24 | $552.4M | $182.9M | ||
| Q2 24 | $545.8M | $157.0M | ||
| Q1 24 | $287.9M | $254.4M |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.1B | — | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.4B | — | ||
| Q1 24 | $8.0B | — |
| Q4 25 | $11.6B | $1.5B | ||
| Q3 25 | $11.9B | $1.3B | ||
| Q2 25 | $11.9B | $1.2B | ||
| Q1 25 | $11.9B | $1.4B | ||
| Q4 24 | $11.9B | $1.0B | ||
| Q3 24 | $11.9B | $973.1M | ||
| Q2 24 | $11.7B | $881.5M | ||
| Q1 24 | $11.7B | $797.2M |
| Q4 25 | $22.2B | $6.0B | ||
| Q3 25 | $21.9B | $5.8B | ||
| Q2 25 | $21.8B | $5.6B | ||
| Q1 25 | $21.2B | $3.7B | ||
| Q4 24 | $21.0B | $3.3B | ||
| Q3 24 | $21.3B | $3.1B | ||
| Q2 24 | $21.0B | $2.9B | ||
| Q1 24 | $20.6B | $2.8B |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.68× | — |
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 | $1.7B | $190.4M |
| Free Cash FlowOCF − Capex | $1.4B | $105.2M |
| FCF MarginFCF / Revenue | 183.5% | 17.1% |
| Capex IntensityCapex / Revenue | 34.1% | 13.9% |
| Cash ConversionOCF / Net Profit | 10.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $190.4M | ||
| Q3 25 | $477.0M | $167.1M | ||
| Q2 25 | $377.8M | $99.8M | ||
| Q1 25 | $415.9M | $145.8M | ||
| Q4 24 | $1.6B | $127.3M | ||
| Q3 24 | $486.2M | $104.7M | ||
| Q2 24 | $380.0M | $74.8M | ||
| Q1 24 | $412.9M | $73.6M |
| Q4 25 | $1.4B | $105.2M | ||
| Q3 25 | $402.2M | $82.5M | ||
| Q2 25 | $317.1M | $39.9M | ||
| Q1 25 | $367.5M | $59.9M | ||
| Q4 24 | $1.4B | $54.2M | ||
| Q3 24 | $434.2M | $54.5M | ||
| Q2 24 | $333.0M | $45.2M | ||
| Q1 24 | $375.4M | $41.5M |
| Q4 25 | 183.5% | 17.1% | ||
| Q3 25 | 52.5% | 14.7% | ||
| Q2 25 | 41.7% | 7.8% | ||
| Q1 25 | 49.3% | 12.5% | ||
| Q4 24 | 191.0% | 11.8% | ||
| Q3 24 | 59.1% | 12.7% | ||
| Q2 24 | 45.9% | 11.3% | ||
| Q1 24 | 52.7% | 11.0% |
| Q4 25 | 34.1% | 13.9% | ||
| Q3 25 | 9.8% | 15.1% | ||
| Q2 25 | 8.0% | 11.7% | ||
| Q1 25 | 6.5% | 17.9% | ||
| Q4 24 | 26.1% | 15.9% | ||
| Q3 24 | 7.1% | 11.7% | ||
| Q2 24 | 6.5% | 7.4% | ||
| Q1 24 | 5.3% | 8.5% |
| Q4 25 | 10.07× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 5.70× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
